the banks including the regionals? >> including the toxic waste, yeah, i would. listen, these stocks are in an uptrend. >> jimmy? >> keep it simple. apple. >> my stock. >> there you go. ubs positive today. >> sherwin williams, big growth, integrating and acquisition. we like it. >> good having you today. "power" starts now. i'm melissa lee. a tale of two auto stocks. ford betting big money on made in america while gm getting m major pressure from hedge fund honcho, both stocks moving big. apple to $200 a share. the details on a new call outlining three steps that will take the stock another 40% higher from here. shares, meantime, sitting near all-time highs now. inside the fed's head we are minutes away from an exclusive interview from from stan fischer, trump, taxes, rate hikes and money. "power lunch" starts right now.

all right, thanks, melissa. as you can see behind me stocks are back in rally mode after the highest consumer confidence reading since december of the year 2000. the dow aiming to avoid its first nine-day streak with the big movies that year, 1978. why pimto? why not? the s&p 500 trying to dodge an eighth loss in nine sessions. check out the big movers, carnival cruise, it tesla rallying 3%, chinese internet buying 5% of tesla, and spice maker mccormick down about 2% after a mixed quarter for the company. tyler, i speak for everybody when i say remain calm, all is well. >> all is well, brian. thank you very much. welcome, everybody. i'm tyler mathisen. here is what else is happening at this hour. brian highlighting that consumer confidence number rising. what else is rising? home prices.

the latest case schiller index sees prices up about 6% from a year ago. twitter ceo jack dorsey brushing off calls to step down as ceo in an interview with cnbc europe dorsey saying he will do whatever it takes to make sure twitter and square, his other charge, will do well. and weighing whether to take an investment back. however, according to people familiar with the matter, the investment could dilute backers such as apple. melissa? >> thank you, tyler. let's get to the big news. general motors rallying more than 3%. hedge fund titan einhorn putting pressure. speaking about it a moment ago. leslie has all the details on mr. einhorn's push. leslie? >> that's right, melissa. speaking with scott wapner earlier einhorn compared his plan to ice cream.

there are two flavors of investors, he said, the ones who like dividends and the ones who like earnings growth. because the two types of investors are mixed in gm stock, it has traded at a discount to its intrinsic value, he said. he thinks that by separating gm stock into two classes, what he calls dividend shares and capital appreciation shares, gm could unlock between $13 billion and $38 billion in value. >> our idea is essentially to pay the same money to the same people, just do it in two different times so everybody can have what they want. it doesn't change anything else that's going on with the company. when you do simple valuation analysis, if you implement ed this plan, which we expect that they will, you're going to unlock a tremendous amount of value. >> after seven months of discussions with einhorn and his firm green light capital gm has dismissed this plan. the company in a statement today saying that it involves risks such as a ground grade in it

gm's credit rating and governance challenges from having two classes of stock. now einhorn told cnbc he has submitted notice to gm to nominate directors but hasn't determined how many or which ones yet. guys? >> the issue, though, with the two classes of stock is that the dividend shares, they only have 0.1 of a vote. the regular gm shares, if gm wants to cut dividends the people depending on the dividend have no say. >> exactly. and we've seen these multiple voting rights and the multiple share classes before but we've never seen anything like this where the difference in voting rights also coincides with different types of investors being dividend investors as well as growth investors. that was one of the main concerns gm highlighted in terms of governance issues. >> a company is what a company is. you can't go to gm and say i want to buy a chevy cruz but call it a camry and in colors you don't offer. david einhorn can make a case for value but to go in and push around a company like gm and say

you need to change the structure of your stock. >> that's what's so interesting about the strategy. there's no operational push here, no operational changes that he's pushing for with this company. it's more on the -- >> he just wants a different cone of ice cream, as he said best. sorry, you're getting vanilla. >> we should call it power dessert. >> you're getting none and like it. >> it's financial engineering, part of this, to unlock value. >> i don't use the term. >> gm is not the only automaker in the headlines. we'll dig deeper in a moment. rival ford announcing a $1.2 billion investment into three michigan factories, driving shares higher up 2%. here to break it down is the auto analyst. brian, great to have you with us. >> good afternoon. >> what do you make of einhorn's suggestions to gm? >> without getting to the merits of the specific financial proposal, i think it highlights

the valuation discrepancy there in the market which is gm and ford as well are undervalued on their dividend potential as well as where the auto cycle is and longer term about their role in the eb and the autonomous world will be. >> do you think investors out there are over calculating or over including peak auto and underestimating their role in the eb auto cycle? >> yes. there's a couple different issues there. the auto cycle we think will continue on for a couple more years in the mid-17s. we think with increased pricing pressure both automakers look relatively cheap. and in terms of the longer term it's not just tesla that will be there in the eb world. in that particular case gm in particular has made some interesting investments between its ride sharing activities and its electrification and autonomous activities. >> i don't get it, though,

because gm and ford haven't done well at a time they should have done well, when financing was easy, when their autos rolling off of the sales lots left and right, and now we're coming at a time where perhaps we're seeing already auto prices are declining that could put pressure on new ougauto prices financing terms won't be as easy these days. >> right. they performed well operationally. it has not, as your chart points out, been recognized by the stock market. the key thing this proposal highlights what is the commitment to the dividend in the down cycle? ford has been firm that it would pay the dividend as gm has and really if you think the dividend is safe through the down cycle then the strong case of shares are undervalued. >> brian, we'll leave it there. thanks for your time. >> consume earp confidence coming in with a monster beat. get this, consumer confidence surged to its highest level since the year 2000. stocks getting a nice boost from it. we are at session highs.

so is the so-called eight-day skinny-dip done? let's check in with bob pisani. referenced the skinny-dip because we were down eight days but we only fell about 2% in that time. it was a slow bleed. >> reporter: you rarely see, brian, consumer confidence move the markets. it did today. stocks moved. things turned around. the dollar got stronger. ten-year yields got strong er. oil provided another boost. you see where the markets are at the highs of the day. take a look at the sectors. banks, industrials, materials. we used to call this the trump trade. a lot of guys are saying stop calling it that. let's call it the economy is improving trade. a whole move in the last few days to get away from washington and focus on the fundamentals and the earning situation. a big note out late last night, very typical example of this. fundamentals over politics is

what we want. the indicators are strong. we saw that with the consumer numbers. no reason to walk away from the trade and buy on weakness. we talked yesterday, guys, about the great hope on earnings here up 10% for the first quarter. it would be the best quarter in nearly six years, revenues so far up 7%. best quarter again in nearly six years. the numbers are very good here. trading trends now, demand has been weak and volumes light. bottom line is we're approaching oversold conditions. you can see it today. people seem to be interested in getting back into the markets a little bit. if you look at these travel stocks today we have historic highs on the big names right now. carnival, price line, marriott set historic highs. 52-week highs. everybody is out looking to travel right now. back to you. >> thank you very much. bob pisani. what's an investor to do now? chief investment officer of northern trust wealth management, welcome. good to have you with us.

you heard what tobias said, focus on the fundamentals? does he have that right? and what are the fundamentals saying to you? >> the fund aamentals are good. we do see an improvement in the macro picture and it's interesting because this improvement in the mack co-picture does buy time for the administration to get their act together, to get some of the pro growth policies in place that the market has been looking for. >> within a few days we'll start seeing a trickle and torrent of earnings reports looking backwards into the first quarter. number one, what do you expect there and, number two, what do you expect about corporate earnings in the u.s. as we move through the rest of the year with the uncertainty about tax reform in the stew here? >> lots of uncertainty around the tax impact, the potential impact of tax reform. even without tax reform we see a 10% earnings growth here in the u.s., and that is without making any heroic assumptions.

we have a couple of improvements in energy and a 5% organic growth rate for the s&p 500. you can get there pretty easily without tax reform. meaningful tax reform can have a very large impact on bottom line results. i don't think that's priced in right. >> one more in and then i'll be quiet. we're going to hear from stanley fischer on the fed. how important is the fed this year? what do you expect him to do? is it a serious impediment to the market moving forward or not? >> well, the fed is play iing i right at this point. slow and steady, data dependent, very patient, waiting to see the whites of the eyes and the stainability of the recovery and growth and inflation outlook, and i think that's what the market expects. so any deviation from that in terms of becoming more aggressive, i think, would be a negative surprise. we think the fed will hold true to their word and continue to take a gradual pace to normalization. >> can you answer maybe the biggest debate that is out there

now and certainly the one we're having internally the most, if you had -- and you have to pick one. don't give me this 60/40 stuff. what is more important for our viewers' money, earnings, fundamentals, et cetera, or dc? >> earnings. >> why? >> because long term fundamentals drive stock prices. short term the political noise can impact certainly sentiment. we've seen that -- >> tax reform would theoretically help earnings by reducing obligations. >> tax reform could help earnings. as you said, that would manifest in earnings, right, so to the extent earnings are positive and that the fundamentals show up and, you know, tyler, you asked about first quarter earnings and what we look for is more signs of optimism. you see the sentiment indicators, small businesses, large businesses, consumer sentiment comes in it well above expectations and we see the word optimism being used frequently in analyst reports and ceo

reports. we're looking for it to be in stronger fundamentals that will ultimately drive stock prices. now volatility around the political landscape is inevitable. ultimately fundamentals will rule the day. >> katie, thanks. great as always to see you. katie nixon. we are just getting started on "power lunch." what companies and stocks could be the big winers in trump's plan to roll back epa regulations? we'll name names. plus, a new pair of shoes and a bullish call on nikies. should you just buy it? later on, one of the world's biggest gold koips just stole friend a museum and, get this, police say the genius thieves may have simply climbed in a window using a ladder. more details on the heist of the century coming up on "power lunch" in two minutes. the command performance sales event is here. experience exceptional offers on our most refined models ever.

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all right, folks. let's take a look at the dow industrials pushing toward daily highs at 20,675, up about 125 points. we haven't seen that kind of rise in quite a few days for the dow. multiday losing streak there. about two-thirds of a percent higher. s&p 500 also about two-thirds of a percent higher. and the nasdaq a little less in percentage terms. let's go to deirdre for a news alert. uber releasing its diversity report, a report we've all been

waiting for. here are the numbers. gender overall, 36% are women. the percent of women in technical roles which include engineers just 15.4%. that is a hair under its competitors. over at facebook, google and twitter. also giving us an updated race break yawn, caucasians topping the list followed by asians at 30%. now when it comes to leadership roles, 22% were women and almost 80% of the leadership team was caucasian. ceo travis kalanick admitting they've been too slow in publishing numbers and the best way to demonstrate our commitment to change is through transparency. they also included here in the report that 15% of its employees are under work visas and this, of course, comes as the ride sharing company is embroiled in controversy. >> thank you, deirdre bosa. yum brands up. sitting down with the ceo greg

creed. here is what he had to say about playing catch-up on the tech side of the business. >> i think we missed the plot a few years ago that food had gone from food is fuel to food is an experience and part of the experience is making it easier. this whole seamless society we now live in, we were a little slow to catch on to that. the most important thing we're trying to catch up quickly not just on pizza hut but kfc and taco bell. >> shares of darden surging more than 8% after reporting better than expected third quarter earnings and giving the street a full year profit above estimates. they also announced they're buying cheddar, scratch kitchen for $780 million in cash. >> have you been at one of their season 52 restaurants? >> i have actually. >> they're great. they're always full. i've stepped a foot in a couple of them, 5:30 on a monday. >> a specialty restaurant. >> they've done well. some people think that they're ugly, some people think they're

cool, but the market thinks they will be a hit. they are that. the new nike air max 2017 shoe. it has a unique sole. >> i have a unique soul. >> you really do. >> nike stock having a good year, too, up 11%. here with more on the company and why he remains bullish, s simeon, it's a running shoe with a funny looking sole. unlike tyler's wonderful soul. why are you so bullish on nike? >> hey, guys. good to see you. i'll apologize for the amount of kool-aid i'm probably about to take down, but this shoe symbolizes a lot of the conversation we've had about nike in general. the reason we like nike, the company, they have the willingness and the ability to spend. and in this world of retail commoditization whether it's sweaters or really anything across the board we keep talking about this notion of the inability to take price. they differentiate themselves on

technology. the technology spend, call it very low single digits, which is still a nice amount of dollars on that base, but it's all about marketing. we know how much the biggest operating expense for nike and the rest of the group is that marketing element. it's 10% of sales. >> is that shoe big enough to move the needle? >> the reality is nike is -- the amount of launches that come out, every launch matters and every launch doesn't matter. they came on the earnings call and talked about the space jam 11 as being the number one launch of all time. talking about the 11th in a series and now we're talking about the 30th year of air mack, it shows for the staying power and how long the halo you want to keep creating. what's interesting about this shoe and air max in general they literally took the sole, the technology, and made it visible. this seeing is believing idea that you can take technology but it transpose that is and tells the consumer this is what you want to buy. >> question, can i see air? can air be seen? we're talking about the sole

here and it fits together to me. is this a branded shoe in the idea that it bears the name of some sports star or some runner? what is it? is it a running shoe or is it a line of shoes? what's going to get my 11-year-old to say i want that shoe just the way he says i want the kyrie or the lebron or i want the jordan? >> so we can ask the people that helped sell it out yesterday at certain stores. it went. and i would say yes to all of the above. it's a running shoe. you have in addition laceless, without shoelaces, that was a fashion shoe. so this idea of having, again, that 30th lebron 14s, space jam 11s this becomes a brand. they turned the jordan shoe into a brand that is larger than a lot of companies we look at. so from that perspective i would say yes to all of the above and the reason that your children will want this is because that marketing element teaches them that either they're going to be a cool factor or convince them

there's something else there. >> it's going to be the hot shoe. >> in terms of aleafing the concerns wall street might have in futures orders down to basics simeon, is this shoe going to help on that? they need to hit those metrics the next time they report. is it doesn't matter how cool the shoe is. >> i guess it matters how cool it is in that it drives sales and you're right. we're talking about a stock not just the company. the stock does have to work and beat our numbers. what's interesting about that point is it does go back to the fact, the conversation we had previously where at the end of the day valuations are somewhat decoupling from stocks so this group of consistent consumer companies are earning the ability to, if you believe they're going to compound, it's hard to sell that story. >> did i see that you have a price target on nike? you say buy it, right? you have a price target? >> i do. it's 60. what i would tell you, it doesn't look like that much. >> it doesn't. >> it continues, which i assume was the leading question there.

thank you, tyler. >> you read my mind. >> if i was there i would fist bump you guys. this is a price target that likely we've seen right across the board. and the reason you can't come out and give this this meaningfully higher price target right now is if i put that on you, you would say, really, are you going to spend 25, 30 times earnings. what happens is the street continues to hover around the few consistent companies where a lot of the companies that we talk about, the off price companies, there's a lot in this group that are trading at meaningfully higher multiples and, conversely, a lot of companies you wouldn't want to own that are cheaper than they've ever been. >> i always enjoy talking to you. can i get the shoe in other colors than red, do you know? >> there are a lot of color waves. >> lots of different reds. >> yes, different colors. >> okay, great. simeon, thanks. >> good to see you. >> appreciate it. and one of the world's biggest gold coins has been stolen from a museum in germany. wait until you hear how big it is and how they got it out of

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dollars. it would be worth more than $4 million at market prices. police said it was probably stolen by a group of thieves. oh, yeah? enter the museum undetect ed through a window. possibly with the help of a ladder. >> love it. >> it's so basic. and they lock their windows? >> through a window. >> i love the story not because i'm glad the thing was stolen. i hope they get it back. it's a valuable coin. >> do you think it's melted? >> everything is cyber hacking and lasers and drones. hey, let's get a ladder. >> there's a window open on the second floor. >> now let's get a pint. >> get more than that. all right, on deck, d.c. takes a rare breather. the markets get to focus on the fed. we have got a huge interview coming up with fed vice chair stan fischer. it's a biggie. steve liesman and stan fischer

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hi, everybody, i'm sue herera. here is your news update this hour. amazon says it's reached a deal

to buy the largest online retailer in the middle east. souq.com has over 45 million visits a month and sells products in categories such as consumer electronics, fashion and beauty this is amazon's first push into that region. a hero for saving a wounded police officer in last week's london terror attack returned to work today. in an address he said he was one of many that stepped forward to help that day. recalling more than 1 million pounds of those chicken nuggets after consumers found metal objects in them. they were produced between september and march and sold by several retailers including walmart. and europe's most active volume kay know is putting on quite a show. take a look at that. bright red flows of lava continue to pour down the side of mt. etna after a series of eruptions which began last month.

that's the news update this hour. melissa, back up to. >> stunning photos. strong consumer confidence data fueling gains. jpmorgan and lehman leading the way. we have s&p financings at session highs. energy materials among the other leading sectors. apple, meantime, we're watching that one hitting all-time highs. a note saying the firm's most bullish scenarios have shares hitting $200 a share over the next two to three years. iphone growth must continue beyond 2018. the company must create new product categories and also buy back more than $50 billion in stock. sears, meantime, soaring to the tune of 14.5%. buying nearly 526,000 shares just last week according to a filing. also a sears board member.

investors are looking for clues on raising rates this comes amid uncertainty on the president's agenda. right to washington where reporter steve liesman has a huge interview with the fed chair advice stan fischer. >> the big news was not the recent price hike but the fail europe of the republican health care bill. how closely are you at the fed watching those kind of developments on the fiscal side? >> we're watching them very closely. they'll certainly have an impact on what happens on the economy and they'll certainly probably go through that have an impact on our future actions. >> did what happened last week change your calculus what is likely to happen when it comes to more significant fiscal policies like tax cuts? >> it may change my internal calculus but in terms of what we

do which is to say what will we do if "a" or "b," it doesn't change very much the things we look at. >> the fed has taken a wait and see approach, is that a better bet given what happened last week? >> it's the sensible thing to do. you get out there and say i expect a deficit or such and such size and tax cuts. it comes from the administration. it'll go through the congress. it'll be different than what went in. and we don't -- i think it's a good way of doing it. >> have you personally in your own forecast incorporated fiscal policy? >> a small fiscal expansion has been included in the forecast that we receive and, of course, in the plots everyone is making

their own assumptions about that. >> what i'm trying to understand is the average fed member now forecast two additional rate hikes this year. does that include a large tax cut bill in there? >> they don't tell us. they tell what's they think is the apropropriate policy given their other expectations. we won't see a significantly large tax cut until 2018. we assume when they're filling out the forms as to what they expect. >> do you feel it's the right policy to react once a bill is adopted, or should the fed be preemptive? >> you know, some bills when they're presented have some

impact on the economy immediately. i think that was the case with the early days of the administration. and so the stock market goes up and so forth. you take those effects into account. the policy hasn't been done yet. the expectation of the policy does. you don't have to put a huge weight on something that you don't really know is going to happen. we take it into account. >> more or possibly fewer? >> that's my forecast as well. you know for sure that you don't get everything right particul particularly about the future. and you need to think about what happens if the economy is growing more slowly or faster. >> which way are the risks in your opinion, towards more policy tightening or less?

>> i think -- i think the risks are more or less balanced. >> your term as a fed chair expires next year. >> right. vice chair. >> as vice chair. pardon me. but your governship extends further. have you considered staying on? >> of course i've considered it. all the fed's history and i don't have to make a decision about that right now. >> getting back to the economy there was a piece in "the journal" an op-ed by robert barrel suggesting the u.s. economy could grow 3% or 4%. is that something that's within the realm of possibilities as

far as the u.s. economy? >> well, that article said that the economy could grow at 3% to 4% for a couple of years. it was about what would happen if we reduced taxes if there was an infrastructure program, et cetera, et cetera. and then we'd get a bump when the changes take place. but it didn't at any point say we can move to a stronger growth rate of 3% to 4%. it was about the short run and you increase the flow of government spending in the short run. >> what about raising the potential up to that level? >> that's what everybody would like to see but the really big factor is productivity growth and it's been very likely the

reasons are not fully understood. but we're looking recent lip at rights of productivity growth of 1% and sometimes less for a few years. it's very low. it could be higher if there's a burst that generate employment as well as enjoyment. people changing their minds. the rate is very low at the moment. >> they take that into account. it puts numbers on things and they're part of his calculation. >> first about the possibility of protectionism.

are those fears that you have as high as they were before? >> probably about as high as they were before. we've had the health of the bill but that's probably a one-off. the next is obviously taxes and at some point they'll turn their attention to the global economy. >> the way the world economic system is being challenged right now. >> i'm concerned about the possible that something worked very well, the policies put in place off world war ii and continued recently.

with ups and downs we imposed tariffs on japan in the '70s and so forth. that worked for china. it worked for us. we've been able to buy many thing. we wouldn't have had it all be up to us. so we benefit from that as well. and we could -- i'd be concerned if that basic model is overturned. >> one more question, stan, you've had concerns about emerging markets and the impact of higher fed rates in emerging markets. is that still a concern you have? >> i was as concerned about that than quite a lot of other people.

so far we're not seeing any great difficulties. and the dollar has not strengthened. it's weakened. that helps them out in terms of their debts, the debts they have to pay. not in terms of their exports. so i think the emerging market countries and developing countries have a good chance than we were thinking some months ago. >> thanks for joining us today. >> thank you very much. >> brian, back to you from washington, d.c. >> it is d.c. just in a different way. >> this is the fed. it's different. >> steve leashman, thank you very much. guys, again, the fed has certainly been put on the back

burner a bit, right? the trump agenda has dominated. charlie evans making comments this morning. stanley fischer, the fed still relevant, yes or no? >> oh, yeah. absolutely relevant. absolutely particularly if they accelerate the pace of interest rate hikes. as you point out mr. fischer was trying hard to say as little as he could. steve was trying as hard as he could to get him out on a limb more. he said what you would expect and that is that they have their eye on the fiscal stimulus that may come out of the administration no matter what it may be, but it's hard to know what to do until you know what gets done. >> and if deregulation is really more at risk after the failure to pass aha, really leading the charge here financials are at session highs and we're seeing the s&p as well as the dow and nasdaq right now. >> and still ahead, the health care bill failed so the question

becomes will tax reform meet a similar fate. a trip back to our nation's capital next. whether it's connecting one of the world's most innovative campuses. or bringing wifi to 65,000 fans.

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welcome back. let's take a look at the markets. we are hitting highs this hour. helping the s&p up 0.7% gain. the nasdaq powered by big cap moves such as the moves in apple, higher by 1.8%. this is a record high and it exceeds $1,000 a share and a split adjusted basis. it didn't split it would be over $1,000 right now. we are seeing a new high on shares of apple. republicans couldn't seal the deal with health care. will tax reform meet a similar fate? live on capitol hill with the very latest. >> reporter: members of the house ways and means committee convened this morning to talk about the next steps on tax reform. paul ryan tried to reassure they

are making progress on their plan. house ways and means committee chairman brady has opened the door to potential compromise going forward talking about the possibility of phasing in some of the most controversial provisions of his tax plan and that includes perhaps adjustment, waiting to see how the dollar reacts, waiting to see how businesses might adjust to those provisions, but the main message we heard from house leadership today was not about tax reform but health care. representative steve king of iowa who was one of the critical swing votes supporting the health care bill came out of the conference saying he still thinks a deal could be done by easter. so there is a sense here health care is not dead yet. now congressional aides do assure me that health care and tax reform can move on parallel tracks. we'll have to see how well

lawmakers can multitask in washington. >> ylan mui, we'll see you soon. though the gop may control both houses of congress and the white house, as we clearly saw with health care and as we have said many times, democrats still matter especially if the gop continues to fracture between the moderates of the freedom caucus, the president himself recently suggesting he may reach out to democrats to work with them to get other parts of his agenda done. so let's chat with the ranking member of the house budget committee, congressman john yarmouth of kentucky. do you, sir, believe a new budget will be passed by april 28th, or do you think we'll have yet another government shutdown? >> well, this really is totally in the republicans' court. it depends on whether they're willing to pass what we call a clean cr which is to continue funding at existing levels through september 30th with no policy riders and no things like

defunding planned parenthood. if they're willing to do that, then there won't be a problem. they'll get lots of democratic votes if not every one of them. they're going to have a problem with most everything with their freedom caucus and we just got a document today and it's not labelled so i don't know exactly where it came from but it was somewhere within the administration talked about adding $33 billion to defense spending for the remainder of the year, so it's the five months remaining, and cutting $18 billion in nondefense discretionary spending which is going to be very, very hard to sell to many democrats and, again, i think the increased spending in defense may be hard for some republicans. >> this is cnbc, as you know, congressman, so we want to bring everything back to the world of business and money and investing. with that in mind, perhaps no money plan out there is bigger than infrastructure yet there is no plan and yet there are multiple plans as we have talked

about. do you believe that, "a," any infrastructure plan will be done this year and, "b," if so, what is it likely to look like? what are you as a democrat willing to do with the republicans to get done? >> well, again, this is a question whether republicans negotiate with themselves or with us. i think if they proceed with a plan that is largely tax credits for wealthy investors, then i don't think they're going to get much support from us which means i think it will be doomed. if they talk about new spending, creating a democratic process inside the congress that actually allocates spending based on necessity and not necessarily on the profit potential of projects, then i think there will be a lot of bipartisan support for that. >> can i turn your attention to what the president is about to do in roughly an hour's time and that is sign executive orders repealing or beginning the process to repeal some

environmental rules prom you will under the obama administration, some affecting coal and the coal industry. and the goal the president said multiple it times is to bring coal jobs back. do you think coal jobs really will ever come back in a big way in your state? >> no, and i think it's one of the most cruel deceptions that are being played in the political realm these days. the power plan that is now being contested and the president is going to scrap has been factored in by most utility companies, they've decommissioned a lot of coal fired plants, gone to unnatural gas plants. i'm not sure that there's going to be that much of an impact even in terms of increasing demand for coal. even if it does increase demand for coal places like eastern kentucky, appalachia, those jobs won't come back because that coal is too expensive to mine. it's not competitive anymore

with natural gas. >> congressman, thank you very much for your point of view today. we appreciate it. >> okay, brian. >> congressman john yarmuth of kentucky. technology is changing ameri america's classrooms. how exactly and how effective is it? we have a closer look next. hey . hey! i just wanted to thank your support team for walking me through my first options trade. we only do it for everyone gary. well, i feel pretty smart. well, we're all about educating people on options strategies. well, don't worry, i won't let this accomplishment go to my head. i'm still the same old gary. wait, you forgot your french dictionary. oh, mucho gracias. get help on options trading with thinkorswim, only at td ameritrade. whyour boss?ork for? yourself? your family? our financial advisors are free to realize a plan to fit your family's unique needs. we'll listen. we'll talk. we'll plan. baird.

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welcome back, everybody. technology is already playing a leading role in classrooms across the country and will play a bigger one. julia borestin and the rising role in technology. >> reporter: giving teachers around the world software to find best practices, manage assignments and submit evaluation evaluations, they are a $5.2 billion industry expected to grow. the leaders is d2l, bright space platform incorporating into its teaching software and helps messaging and grading used by over 700 clients and 8 million students including about half of k-12 and higher ed institutions in canada. black board helps teachers bring their classrooms online and

provide customized programs. the company tells its teaching and analytics platform to over 16,000 clients not just schools but also governments and businesses. >> it's taken time to really develop new learning models that take advantage of platform, but i think what you'll see in the next couple of years is that most schools become part of a platform network. has a common learning model and a shared learning platform and professional learning experiences. >> reporter: the tech giants are looking to tap into this market as well. google, microsoft and apple each offer free classroom tools for students and teachers looking to hook lifelong customers. their investment has had a dampening effect in ed tech startups since 2015. $930 million was still poured into ed tech startups last year.

michelle, back over to you. >> i'll take it, julia. julia boorstin. president trump is set to sign an executive order in a few moments' time. a look at the potential stock winners and losers ahead. why pause a spontaneous moment? cialis for daily use treats ed and the urinary symptoms of bph. tell your doctor about your medicines, and ask if your heart is healthy enough for sex.

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all right. two hours until the closing bell and here are your top business headlines. the consumer bump trumping the trump agenda slump. stock highs after consumer confidence hit its highest level in 16 years. but here's the question, if you're so confident, america, why aren't you going to the mall? we're going to ask more than 500 shopping centers where all the shoppers have gone. and as always we are bringing you the big money impact and the wonky political headlines naming three stocks that may benefit from the president's plan, the roll backs of epa regulations. let's check out the movers. apple is trading right now at

pretty much an interday record high. to close at these levels saying the stock has $200 a share within the next couple of years. more on apple in trading nation. meantime we're watching tesla shares zooming higher as a 5% stake for the company for about $1.8 billion. and red hat, beating expectations sales were better than expected and guidance for the rest of the year. that stock soaring 15%. fed vice chair stanley fischer speaking on "power lunch." he says two more raid hikes seem about right. his term. but that the rate of investment is very low at the moment, so is the rate of growth in productivity. fischer adding the fed's outlook hasn't changed very much but a lot can change based on the president's spending plan. the president also taking aim at energy regulation. at the same time a house

committee discussing changes to bank rules. kayla tausche is live with more. kayla? >> reporter: brian, in the thousands of pages of dodd frank there is one four-letter word banks fear the most, a label given to the biggest financial firms that deems them too big to fail and brings high regulatory costs and high levels of required capital with that distinction. house financial services committee is holding a hearing on what it calls the, quote, arbitrary and inconsistent way that fsoc applies that label to nonbank financial firms. congresswoman ann wagner says the cost trickles down to consumers. >> the annual consumer cost of designating a nonbank financial institution as such could range from $5 billion to $8 billion. yet fails to conduct any cost benefit analysis. >> aig, met life and prudential

are the three insurance companies that have this distinction. a new financial reform bill suggested that these labels would be stripped and the council that designates them would have it revoked. those companies will no longer have this title. that would be a near time win. other topics that lawmakers are exploring in hearings like the effective regulation on lending have bigger, broader picture effects, guys, and it's important to remember those will take months or perhaps even years to come to bear through full legislation out of congress. kayla, thank you very much. rolling back dodd-frank not the only headline. after consumer confidence soars to a 16-year high and home prices surge to a 31-month high.

some positive data erase the health care hangover? larry kudlow, cnbc senior contributor. how do you factor in something like consumer confidence which can be a very flighty measure. it's one of the soft numbers. >> you've seen it. home builders. maybe part of it is the election of trump. who knows. people are out there. there's some spending going on. what's missing, and i thought stanley fischer had it right on, what's missing is investment, business investment, the single most important part of the economy in my judgment and, behind that what's missing is productivity. and i don't think that's a monetary issue at all. >> it's a tax issue.

>> that is right. what you need to do is what's on the board. repatriati repatriation, get the cash over here. slash the business tax rates for large and small companies and immediate expensing so you'll get your investment triggered right away. it can be done. charts show productivity can respond nice ly inside five years. >> speaker ryan and the administration lost on health care, a reduction in the capital-gains tax went with that loss that would help investors. >> you're right. europe dead right. i was glad to see ryan had energy in him. okay, you win a few, you lose a few in life. get with it. he did a good job this morning. health care may not be over for the year. he did push tax reform. i like that. i think the rally is in no small part due to his energy and emphasis on taxes. >> do you do tax reform all of a

piece, do you try and separate out what i know has been perhaps most near and dear to your heart and that is business tax reform from the individual side or is that not the way to go? >> i would. look, technically right now -- because business tax reform easier to get through? >> i believe so. not everybody agrees with that point of view and from what i gather the administration and the house do not want to split up individual taxes. >> spicer said that today. middle class income tax cuts plus corporate tax cuts are the centerpiece of the plan. >> i have to get to the biggest benefit from corporate tax cuts, large and small, is the wage earning middle class. going in there as a chairman, once they vet him. the administration has to sell that. look at the numbers. some people think it's almost

100% go to the wage earners from corporate tax reform and as a sideline nobody is going to do this but you could take right now today the business tax reform and couple that with the health care bill and put it into reckon sill yigs technically and legally possible. it could be done. put them both in the same bill. >> how about this, though, if, to tyler's point on business taxes, if the tax dies, and you want it to die -- >> i want it to die. >> the revenue hit, which means people are talking that the corporate tax cut is going to be less than expected if at all, that instead of going to 20 it may go down to 28 because they have to make the money up somewhere. >> no, they don't. by the way, they don't. >> i thought it had to be revenue neutral. >> it does not require that. it is not a legal thing at all. it goes back to -- >> that's what they're talking about. >> then you have a hard time

bringing fiscal conservatives along in anything. >> they don't care about that stuff. you know, nobody -- obama stimulus, there was no offset. there was no pay for. they just knocked that $850 billion of stimulus, boom. >> i want to -- just because i love to see the reaction, i just want to say b.a.t. tax. >> it's done, gone, over. >> ryan doesn't seem to think so and the president was quoted in a favorable term for it. >> actually he's flip-flopped on the issue. >> i don't know whether that means anything or not. >> and neither do i. the business people, i think, are opposed to that. i think it's dead. i think kevin brady today signaled when he said we're open to amendments and changes to the tax bill he's talking b.a.t.

b.a.t. is dead. i think it's done in the house. i know it's dead in the senate. someone will bury that little baby. once you get rid of that, then the rest will flow nicely. and to sully's point, you can limit loopholes, deductions, which you will not need at a 20% carpet rat corporate rate -- >> if you're cutting off revenue from the b.a.t., you're going to have to make it up over here. >> the b.a.t. -- first of all, if you raise taxes, it could have been a couple hundred billion. we've done this before. you and i can sit down and get you there. 15 minutes is all it will take. get rid of the loopholes. you don't need loopholes if you're getting tack cuts and repatriation. i'm just thinking ahead, even some democrats might be very

interested -- i don't like this from an economic standpoint but politically if you're going to repatriate $2 trillion or $3 trillion, some could be funneled into infrastructure. i don't like government direction of money but it could -- we could make positive noises about it. >> if you allow companies to repatriate you should say, okay, you have to invest some of that in this kind of thing. you said i don't like that because that's the government telling you what you have to do with your money, and i take your point on that. >> i'm a free market guy. >> i can see a bargain under which an infrastructure piece is married to a repatriation piece. you give me this, i'll give you that. we have to leave it there. >> i agree. better that than b.a.t., than bridges to nowhere and judgeships. i would take that if i needed to get it through. you have to do business, melissa. it's transactional. >> larry, thanks. larry kudlow. >> i appreciate it very much.

>> you're welcome. big moves in the auto sector, ford up over 2% after announcing it it will invest $1.2 billion in three plants in michigan. general motors up nearly 3%. einhorn calling for gm to split its stock into two classes. there's a potential dark cloud for auto sales and auto credit hasn't been too good for too long and could that put lenders at risk? let's bring in jason, the senior credit officer at moody's. great to have you with us. i thought the report was interesting and highlighted some of the warning signs we got, their credit and allied financial. fewer auto sales next year means fewer loans to make which means lenders will compete more and may loosen their credit terms but there's another, the trade and treadmill is what caught my eye because i think that people don't really understand what that is. >> yes, so the trade and treadmill is a situation where

you go into a dealership and the value of their existing car is lower than the balance on their loan. and that differential, which we consider to be negative equity, gets wrapped into the balance on the new lone with the new car purchase. >> which means the lenders take on more credit risk, correct, because they're taking on the negative equity and they're lengthen iing the term of the ln so the monthly peyton manning can be the same. >> yes, that's right. the lenders are taking on the risk on their balance sheet and looking to accommodate the borrower with the monthly payment and they're doing that with extending the loan term as well. >> the other dynamic in all of this, as you well know, jason, is that used car prices are also dropping, which is adding another sort of drag on new car pricing as well. we spoke about this with auto analyst adam jonas. here is what he had to say about the impact.

>> in a five-year period we're running scenarios of used values off by 50%. so we are telling our clients at morgan stanley, please, we are warning you, please be careful. there are implications across the capital stack and sector stack. >> i imagine this is another pressure that you're mentioning. at what point do investors start getting concerned this could actually have an impact on the credit of the auto lenders? >> you know, we put the sector on negative outlook last year so we've been seeing these trends. there's been a lot of leasing in the sector. there's going to be meaningful used vehicle supply for the next few years. so as far as profitability and balance sheet metrics, they are already looking concerning and it's something that we're watching closely.

>> all right, jason, i appreciate your time. here is what's coming up on "power lunch." president trump to sign executive orders aimed at rolling back environmental regulations. what that could mean for energy stocks. consumers still spending a lot of money but not necessarily at the places they once did. we'll talk to the head of a major shopping center in a few moments' time. and not everyone in oakland is upset about the raiders leaving. why it could be good for oakland. all that and much more coming up on "power lunch." as we head out a nice rally going on right now. stocks at session highs. look at the moves for apple, dupo dupont, goldman and the industrials up about four-fifths of a point. and a team of experienced traders ready to help if you need it. it's like having the power of a trading floor, wherever you are. it's your trade. e*trade

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consumer confidence jumping to its highest level but it hasn't been all good news with store closures at some well-known retailers and recent job losses. kimco reality owns and operates over 500 shopping centers in the united states. top ten apts include the parent company of t.j. maxx, kohl's and walmart. here is connor flynn, president and ceo of kimco reality. welcome back to the show. >> thanks for having me. >> when people hear about store closures they think that's bad news but a lot of the publicly traited don't have these guys as tenants. what are you seeing in terms of

store closures? >> that's a good point. when you look at kimco we've positioned the portfolio so if a tenant closes up a store we get the market to market opportunity there to bring that lease to market. and so when you look at kimco as a whole our anchor boxes are 65% below market. we've positioned the portfolio to be really opportunistic if we get the boxes back. but what's happening in a lot of retail eers today is a lot of t secondary markets is where the store closures are happening. if you look at a map it's really in low population areas, areas that don't have the density or population growth to sustain the store. >> when an anchor box leaves and there may be quite a few of those this year, what's the next anchor box that comes in? who are they? >> we're a shopping center company so 72% anchored by grocery stores. so when you look at the specialty grocers, trader joe's, traditional growth like

albertson's or kroeger's, the off price categories, so t.j. maxx has t.j. maxx, marshalls, home goods, sierra trading post. the home goods -- nordstrom rack. >> you have to have a lot of anchors. >> burlington. >> you have to have a lot of anchors. >> we love anchors. >> we love anchors here. we love ourselves. >> how long, though, does it take to replace that anchor box, so to speak, and are you at risk at all of triggering co-tenants agreement where you have to have a certain amount of foot traffic to satisfy the leases of the other tenants? >> good question. we're over 97% occupied in our anchor spaces. when we look at that to get the spaces back and it depends on the location obviously. real estate is a local business so you want to look at the opportunity there of who is the best retailer to complement what you're trying to drive to the center so entertainment is another good concept that's been

a big boost, movie theaters. there's a lot of new concepts of dine-in, reclining chairs. >> booze. >> connor, can i widen it out a bit. and i understand you guys have changed your portfolio. it's not a kimco question, it's an america question, i guess, to melissa's point, they may be in the youngstown of ohio, what are the solutions to that, though? it breeds crime, lower property values, does the industry -- does your industry have any responsibility? not kimco but the industry, if you build stuff and people leave it's empty, what do we do about that? what's the solution? they're ugly and they're dangerous and they hurt everybody. >> it's a hard question. i think when you look at some of the higher and better uses for the locations, it may be industrial. it may be something totally different than retail, medical might be a good use for it.

a lot of services today are doing new deals. when you look at gyms and fitness facilities, those are the most aggressive. >> maybe by a jeans seller but maybe there's -- doctor's office -- >> indoor trampoline parks as well. >> there's one in new jersey. sky zone. that place, i wish i had that business. it's crazy good. so what i hear -- >> you'd flip over it if you had it. >> when saks pulls out the next tenant might be kroeger? >> depending on where the box is located. if it's a mall, there's usually four anchors in a mall and sometimes they're in the back of the mall. it will be hard for a grocery store to relocate to an enclosed mall if the box is in the back. >> half empty strip malls are uglier than me without makeup. they're bad. they're bad for america. they are tough for communities. >> why is your stock down 12%

and it's underperforming the retail etf, the retail sector? >> retail is getting painted with a broad brush. >> or the ret sector. >> we're dealing with negative headlines. we're trying to make the case the strength is there and we're showing it and have to put up the numbers and execute. >> thank you. appreciate it. >> all right. coming up, the investing opportunity around the president a president's plan to roll back some epa regulations, plus, a small cap texas-based metals company. one analyst says you could earn nearly 30% of your money on. that name coming up on "street talk." we price, we can help guide your retirement savings. so wherever your retirement journey takes you, we can help you reach your goals. call us or your advisor t. rowe price. invest with confidence.

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and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be. we kick it off with carnival. sun trust evaluating first quarter reiterating buying of the stock. the highlights include volumes and pricing running well ahead of pace for the remained earp of 2017. also during the quarter and during the all-important season when people buy trips positive on volumes and pricing. we're seeing the stock pop.

>> booking trips not buying jeans. number two, credit suisse upgrading from a neutral, commercial -- it's the company i teased and i couldn't remember the name. commercial metals, should see significant growth over the next two years. the global row bar. i know you've been looking for rebar markets. recessionary margins, inventory is leaning out. demand finally picking up. u.s. and global metal margins last year hit historic lows the second half of the year. an analyst says they are recovering nicely, boosts the target 28% up. i wrote it this morning, now it's up 6%. still 25% or so on cmc. >> red hat blow-out quarter from the company prompting them to raise the price target up $5. strong initial guidance for fiscal year 2018. red hat saw some big deals in the quarter along with acceleration. you can expect to hear more

about this during the analyst meeting may 2nd which could be a cataly catalyst. >> and your smaller cap call of the day is an illinois-based an o outperform from a sector perform. they remain optimistic he especially because larger players in the industries, adp, continue to see attrition. they say the failure to reveal removes the risk because revenue should be 7% to 8% of total revenue. rbc boosts target from 38%. so a nice upside on pcty. a look at energy stocks and the president's epa roll back plan.

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hi, everybody. i'm sue herera. scotland wants another chance to gain its independence. scottish lawmakers approving a measure today that allows their leader to ask the british government for a formal vote to break from the united kingdom. the move was prompted by the uk's decision to leave the european union. the coast guard confiscated nearly 16 tons of cocaine with a

street value of $420 million. they did it in the eastern pacific ocean. the drugs were unloaded this morning at port everglades -- in ft. lauderdale, i should say. it took place over 26 days and netted smugglers from 17 different operations. dunkin' donuts is teaming up with ways to keep coffee seeking drivers pretty happy. starting today you can use the navigation app to find nearby locations on your route and place orders in advance. and images and videos from accepts or triggered cameras dep within thailand have led to an amazing diskocovery, tiger cubs participate of a rare subspecies, showed up among a group of adults. that is good news because they are endangered. melissa, back to you. no pandas but tigers. >> thanks, sue. we are 90 minutes away from the closing bell on wall street. stocks are set to break their longest losing streak. the dow up by 0.8%.

oil closing up almost 1.5% and we are expecting some video this hour on president trump signing an executive order, obama-era climate change regulations. the president saying his administration is putting an end of the war on coal. we'll bring you that playback tape when we have it. fed vice chair stanley fischer speaking to steve liesman on "power lunch." fischer saying two more rate hikes seem about right. typical fed speak. the rate of investment remains low at the moment overall. still, fischer adding it has not changed very much. fischer was asked whether the fed's forecast aroring in any large tax cut. >> they don't have to tell us. they tell us what they think is -- what they think is the

appropriate policy given other expectations. but, you know, there's a lot outside the fed of forecasts that we won't see a significantly large tax cut until 2018. but what the members of the fed assumes when they're filling out the forms what they expect i don't know. >> meantime, regeneron looking for drug approval. it's all important for this one. >> you can't talk about a new drug approval without talking about the price. and they have told us to us. the stock is not responding super dramatically. it's been approved for atopic dermattis, a form of eczema. it was approved today. they put a list price on this of $37,000 per year. now this coming in about within

expectations that analysts set out there and they say the target population for the drug in the u.s. is about 300,000 patients. you may say $37,000 for a drug that treats skin rashes, we talked about this with the ceo back in january. listen to how he described it. >> moderate to severe, a terrible disease characterized by itching and scratching and bleeding and discomfort, lack of sleep, even suicide in some patients this is an important disease. >> analysts are talking about this potential blockbuster here. consensus sales estimates going out to beyond 2020. some expecting more than $3 billion in annual sales here. of course regeneron has a splitting agreement. this is a big drug for them. >> are you surprised at the stock reaction? >> no because people expected approval by today and analysts have been pegging the price around this amount, actually fascinating note out this morning saying $30,000 is the new $50,000 in this drug price

environment. people hoping not to really raise the eyebrows with the very high price tag in this environment right now. >> meg, thank you. >> meg, let's take a left turn a little bit, talk about president trump signing executive orders aimed at rolling back environmental regulations. joining us is karen harbert, president and ceo. she was with president trump during the signing. what did he sign and what does it mean? >> great to be with you. energy accounts for one-third of all investment in the united states and what president trump did today with the stroke of a pen is unleash the potential of that one-third to benefit the rest of the economy. we'll be able to export more american energy, put more people back to work and attract more investment. it's a great day for america. >> what's the environmental effect of that going to be? >> so right now our emissions are about where they were in 1995. before any of the regulations

came into effect. we're cleaning up the environment, cleaning up the air. and charged pruitt to keep going. the obama-era regulations did little to actually clean up any greenhouse gas emissions but had he were good at putting people out of work. >> it was already getting cleaner, in other words? >> we're on a great trajectory. we need to keep it going. it's about american innovation, technology, and putting that into our system and that needs to continue, by the way, we have good regulations here to produce energy more cleanly here than any place in the world and we can still continue to do good things and produce more american energy in a clean manner. >> the president will end the war on coal. what does that mean in terms of jobs? we had a congressman on last hour from kentucky, a coal state, who said it's a cruel deception to believe those coal jobs will come back in any big, measurable way because the coal

in his state, he said, was so expensive to mine it's not competitive. >> we've been losing coal mining jobs and shutting down coal powered fire stations for a number of years. >> it allows us to invest more efficiently and cleanly. we will turn this ship around and let these coal miners have some hope of future jobs. >> karen, thank you very much for your point of view. we appreciate it. karen harbert of the u.s. chamber. there's the news. why don't we cnbc it up and get specific to up money and what the best investments are now for your portfolio and bring in the he head. the president signing this at the epa. why is that good for, say, a williams partners, wpz? >> i think it's important to

take the underlying theme to what the winning size will be going back to natural gas. demand will be here to stay. that will help the adoption of natural gas here and across the world. with prices around $3, an ample amount of supply that will continue to be abundant here. so far williams i think you want to step back and look at a name like roc, they have some of the biggest acreage, break evens are closer to $2 on nat gas. they're an emp game. the pipelines, like you mentioned, wpz, we've seen the pipeline that will push to natural gas fuels. it owns the assets from the parent for which wiilliams. that's one you want to play in williams.

heard you talk about the tax with larry, there's uncertainty there. they purchased williams -- i'm sorry, western, wnr, late last year and western has ample and good supply to both the mexican gas market and chicago gas markets. they need our gas big time. >> thri admire what the preside is trying to do from a jobs perspective. natural gas you mentioned, not even epa regulations because it can't compete on a price basis. >> i think you nailed it on the head there. >> they look good but aren't doing anything fundamentally.

for cole, like you mentioned, the damage for the last eight years is far reaching. the coal plant 50 years in the making there's no utility that will turn and try to make a new coal plant that may be turned around in four years. with natural gas around $3 it makes too much sense to continue using natural gas and go that way. the fact is the mendoza line and the break evens don't even start. >> you bring three ideas for us, range, wpz, we'll see you again soon. thank you very much. and coming up on cnbc, pepa administrator scott pruitt at 3:30 eastern will talk about what we just talked about from his perspective. meantime, back to the stock market, apple hitting a new all-time high and, get this, one

analyst sees $200 a share in the next couple of years. what is the trading nation team think? we'll find out.

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dominick chu? >> we're watching dow transportation stocks outperforming the broader market overall, the index is up about 2% so far. this is interesting because it's tracking for its best day so far this year, all of 2017. you have to go back to december of 2016 when it gained 2% again on that particular span. all the components in the index are positive. united, jetblue, ryder, up around 3% despite the gains, we should point out, transports still down 3% on pace to break a four-month winning streak and still 5%, brian, bloep the highs we saw this month. >> big move there. it is time for "trading nation." let's trade apple. why not? it's the biggest company in the world. it's hitting a record high today crossing $144 a share for the first time ever. and if not for its 7-1 stock split it would have just hit -- you have to put the pinky to the

mouth, $1,000 for the first time ever. your trading nation team today. gene, $200 a share on apple, do you think it's coming? >> i think it is. i think that if our range is $180 to $200 and we think that is going to happen because the numbers get so easy for them over the next few quarters from 3% to 12% growth from now until september. you have all the hype around the phone. 171 days, by the way, likely until the next iphone is released. traders should think about this is the golden opportunity. will the numbers get better and probably trade it off once that phone gets announced. >> i thought that as the numbers -- going to what you just said before i go to ari, it gets easier, the numbers will get bigger, i thought as the company got bigger the comps got harder and made less impact. >> the next three quarters they get easier because it was such an abombable last year.

they will be difficult in march of 2018 but at least for the next three quarters and 171 days things should be clear sailing. don't forget there will be a likely increased dividend tax holiday so a lot of things that can keep this 14 multiple inching high er. >> ari wall, do you think $175, $200 is on the horizon? >> yeah. the key takeaway from the charts, brian, is that the stock is breaking above resistance from its 2015 peak this is a sign of new demand for shares and it does set the stock up for a continuation of its rally and additional outperformance over the coming months. here are the levels you have to watch. that breakout above the prior resistance at 135 is now support. that's what we can think of in terms of down side risk. now on the up side the projection measures to $180 assuming how the stock traded in

the prior range we can see on the upside so that argues for a 3 to 1 upside to down side risk, a very attractive risk/reward balance as we see it. we rate the stock as buy. >> all right. two bullish views there on apple. it's another record high. guys, thank you very much. appreciate that. for more trading nation go to our website, tradingnation.cnbc.com. football fans in las vegas are thrilled at the prospect of the raiders coming to town, but many in oakland happy to see them go. why losing a team may be a good thing. that's next on "power lunch." it's risky to buy a stock selling off. don't buy just because it's on sale. we've seen the item in the store marked down 10% and three weeks later it's marked down 25% or

more. purchasing the so-called sale he items early on can put a dent in your trading account. yes?

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video coming in right now from moments ago, president trump signing executive order

aimed at rolling back obama era environmental regulations. trump cede the administration east ending the war on coal and signed the bill, saying, you know what this is? you're going back to work. markets now are at session highs. again, moments ago, signing that executive order. oaklands raiders moving to las vegas, and while vegas is thrilled, those in oakland are not mourning the loss. josh lipton is outside the oakland coliseum with the story, josh? >> reporter: well, tyler, this is really just the latest blow for east bay sports fans. that iconic raiders franchise valued at $2.1 billion. as you moengse ementioned, it'so sin city. they included a billion dollar stadium in vegas, and it's not just the raiders leaving. the golden state warriors are moving out too, heading to a new

$1 billion stadium in san francisco. sports teams are moving out of the area and real estate analysts say the sky high prices in san francisco shift demand, prompting migrations and expenses across the bridge. the east bay welcomed over 100 new companies since 2010 with most going to oakland, for example, uber moved a few hundred employees there by the second half of next year. in all, some 200 tech firms now located in oakland including online music service pandora, and in total, the tech companies occupy 1.7 million square feet, and prices for the real estate keep moving higher. in q1, office represents in downtown oakland served 18% to $57 per square foot, and that was the highest ever, and it's not just companies. over the last six years, the

east bay welcome over 90,000 new residen residents, more than one-third of the bay area's population now actually lives in the east bay. that kind of big shift brings challenges, of course, including complaints when it comes to costs of living. don't expect the growth to stop. they say that momentum keeps going with office represents moving higher in 2017. guys, back to you. >> hey, josh, thank you very much. let's stay on the story from a business angle. joining us on the newsline is a sports management professor at the university of san francisco, and she's lived in the bay area for 20 years. nola, it's interesting, reading the headlines, from a sports perspective, it's sad. you hear words like "oakland lost the raiders, losing the warriors," but your research shows the quote, loss, is the city's economic gain. explain. >> caller: brian, that's absolutely true.

it's a sad day for raiders fans, especially because this happened before, but from my perspective, professional teams don't benefit host cities, meaning their absence doesn't have negative economic effects. >> how so? dive in deeper for us. >> well, so, you know, the best example is if you think about fans, spending their hard earned money locally on the team. teams have enormous expenses pushing money outside the city. best example is players. the raiders have 150 million payroll. that's 150 million dollars that's leaving oakland, coming from the residents, but pushed out to the economy. that's leakages. what it means is that teams are not necessarily bringing money into the community. they are also pushing it back out. >> you know, it's interesting because what we think about in the simplistic way to view it, nola, there's video of people going to games, they are probably had a few adult beverages, spending money, they

eat in the local restaurants. you say that's mitigated and oakland may come out ahead? >> in a lot of ways. i mean, you also think about substitutions, so if i'm a resident and i've got money to burn in my pocket, i can go to a game. i can go out to dinner, see the movie. there's a variety of things i can do, and i can spend money locally, and often, if i spend money in a restaurant or movie theater, it's likely to stay in my community than if i spend it on the raiders, so, absolutely. there's all sorts of examples of cities. look no further than st. louis losing the rams. they are doing okay. >> another dynamic on terms of impact on las vegas because it's a tourist city? you have money that otherwise might not be spent being spent on tickets for games that was not an option before? >> caller: so the same dynamic still applies, which is a local resident might have an option, right? they can gamble, drink, go out to dinner, go to a raiders game.

what the raiders are relying on in las vegas is for there to be influx. they need to have a lot of new people to come to the city in order to pay off that enormous subsidy, but the dynamics apply. professional teams do not benefit the communities. we're probably not going too to see a boom in vegas either. >> professor, thank you. >> caller: thanks for having me. >> check, please, after this. ♪ guyhey nicole, happening here? this is my new alert system for whenever anything happens in the market. kid's a natural. but thinkorswim already lets you create custom alerts for all the things that are important to you.

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there is a lot of green on the board. the s&p 500 higher now, financials among the leading sectors there. regional banks and more. things moving on up today. quite a little change of discipline from what we've been seeing the past couple days. >> there's an argument to be made, the trump agenda is just good old fashioned earnings, economics, a global rally, every market in the world is up big this year other than two. the nikkei in japan and russia. >> what's helping today's rally? shares of apple. apple on a record high, 144.03 was the level, and if they close here, that's a closing record high for shares of apple. ubs positive saying there's a path to $200 a share.

that, no doubt, helps this, and this, in turn, helps indexes across the board, the dow, the s&p, hitting session highs. >> shall ewe discuss apple on "fast money"? >> we might be. >> a bite of the apple. >> yep. >> thank you for watching, and "closing bell" continues this rallying coverage, and it starts? right now. hi, everybody. welcome to the closing bill. ooem kelly evans at the new york stock exchange. >> i'm bill griffeth. a late day surge for the targets. there's confidence, stan fisher, i don't know if you saw this, telling cnbc two more fed rate hikes this year, quote, sounds right. we have more on whether this rally can last. that'll be coming up in a moment here. >> meanwhile, snap shares falls after facebook has a new feature that