see maduro out final exchange connecticut, the economy in connecticut. same size as it was back in 2004 after you adjust for inflation that's the legacy. they lost a lot of population and business why there are so many broken hearts with this news. that does it for "the exchange". "power lunch" starts now >> new at 2:00 stocks soaring on optimism about trade talks border wall politics still hang over investors can the bulls keep charge. anger over amazon. protesters in manhattan set to go under way businesses and real estate stunned by amazon's decision was it time to crackdown on corporate welfare. all-star interview, adam silver will join us live. we have a slam dunk edition of "power lunch". it starts right now.

>> welcome to "power lunch". i'm tyler mathison a strong rally on wall street. the dow up more than 300 points. nasdaq breaking above key technical levels on track for its longest winning streak since last agriculture transports aiming to close above their 200 day moving average for the first time since december 3rd and on track for their seventh positive week out of the past eight let's get to dominic chu, tracking the action from the new york stock exchange. >> like you said a 340-point rally so far on the dow. what you got is optimism over trade than idea that perhaps some of the concern about global economic growth is at least waning for a tiny bit. let's take you through some of the big movers in terms of points on the new york stock exchange and the dow jones industrials average. home depot right now one of the biggest point contributors worth a little 30 points scoot over to the panel next to that, goldman sachs also one of

the biggest point contributors accounting for maybe around 35, 40 points. united health group another one of those stories with regard to the dow jones industrials average worth 30, 35 points. then if you swing over to imc, boeing shares one of the biggest point contributors as well, up by $6.5. worth 40 plus points as we talk about some of the gains, china a big part of that story and those names driving a lot of the action in the dow jones industrials average. back to you. >> let's go to the white house now. president trump expected to sign the spending bill that went through congress yesterday to avoid a government shutdown. but he's also declared a national emergency on the border with mexico to get money to build a wall eamon javers is at the white house. >> reporter: you're right. we're starting to get reaction from democrats up on the capitol hill to the president's national emergency declaration here at the white house. first a look inside the numbers

here this is what the president will be doing about $8 billion in spending some of it from the national emergency. that $1.375 billion comes from the appropriations bill that passed on capitol hill yesterday. a couple of other buckets, treasury forfeiture fund and department of defense drug interdiction program and it gives president access to that $3.6 billion from the military defense construction budget democrats leaders called this an unlawful power grab by a disappointed president and they are pointing to this comment that the president made in the q and a in the rose garden suggesting that the president is admitting here that he didn't actually need to declare a national emergency here's that moment >> i could do the wall overa longer period of time. i didn't need to do this but i rather do it much faster i don't have to do it for the election i've already done a lot of wall

for the election 2020 and the only reason we're up here talking about this is because of the election. because they want to try and win an election which it looks like they are not going to be able to do >> reporter: so democrats seizing on that comment of the president saying i didn't need to do this and the only reason we're up here to do this is because of the election. they are saying that means this is political the white house says no there's a national crisis on the border, it's humanitarian, it involves national security, and this is legal and appropriate way to get the money to build the wall. >> what is the likelihood this moves into the courts and that there are some stays of activity that the president would otherwise like to take >> reporter: the key give away was unlufl democrats are arguing this is against the law. you can imagine that's teeing up a series of lawsuits we can expect at any moment this afternoon. it's very likely this goes to the courts and so does the president. he said as much in the rose

garden earlier today >> thank you very much president trump also talking about trade talks with china saying they are going very well and more meetings are planned next week. kayla tausche has the latest from the white house >> reporter: the president spending a significant amount of time in that national emergency declaration talking about china and those ongoing trade talks with the u.s. team on its way back from beijing, setting up for another round of talks here in washington next week. the agenda is unclear as is the specific progress notched in bay ying this week the president today said he would be willing to extend that march 1st deadline just two weeks away if, in fact, these talks continue to go well. here's the president earlier >> it's very complicated there are many, many point that we're bringing up that nobody brought up or thought to bring up but it's important. we were on the wrong side of every one of them. there's a possibility i'll

extend the date and if i do that, if i see we're close to a deal or the deal is going in the right direction i would do that at the same tariffs that we're charging now i would not increase the tariffs. >> reporter: when the president was asked another time about the possibility of extending that date he said you're asking the wrong person i happen to like tariffs he thinks they are good leverage what's unclear is what the u.s. is getting in return for putting those tariffs on the president said if this deal happens it would be the biggest deal ever and the u.s. would get billions and billions of dollars. optimism on trade but a lot of d.c. drama. dow is on pace for it's eighth straight weekly gain can it keep going? >> we have rallyed into this notion a deal will happen. when a deal does happen will it be a sell the news event

>> there's a chance of that. i do think having clarity on a deal is good news. i'm not surprised the market is hopeful. just because we get that hand shake and signature from president xi and trump there's three big things out there that could weigh on sentiment ahead one is technology. even if we have a trade deal the u.s.-china war on technology, so to speak, continues especially ahead of 5g getting rolled out over the coming years. and that's going to be a lid on scenement. secondly president trump today said tariffs are leverage. we get the report on auto imports probably this weekend which would give the president the authority to possibly have tariffs on foreign auto parts and automakers that's uncertainty for germany, for japan, for korea, for other countries and that uncertainty could put a lid on equity investor sentiment like enforcement of a china trade

deal finally if china becomes a current account deficit country which could happen on the back of this trade deal, there's a whole set of implications there, including the potential for a weaker chinese membi it could be a big negative shock. >> that could contribute to a stronger u.s. dollar which has been a head wind for a lot of multi-nationals. on top of this we have data that continues to -- i don't want to say -- it can be question marks for an investor who is unsure of the rally we've seen >> yes >> whether ip, retail sales number, data out of europe all of it could be question marks. >> global data seems real as far as they are weakening. questioning whether the u.s. data is accurate one thing that's interesting about this rally we're in a place now where we don't have to fight the fed. we've seen technical improvement in the stock market. if we hold these advance decline

numbers today the cumulative advance decline lynn will have made a new high. having said that we've had a goodyear in six weeks. so if you're overextend in some individual stocks or overextended in some sectors you might want to rebalance your portfolio and take stock of what's going on. >> to that point, rebecca, we've had a goodyear and we're only six weeks in so what are you recommending your clients do. what are you doing with your own portfolios in light of your forecast and in light of how far we've come how far fast? >> i agree we're selling into strength. we're keeping plenty of equity exposure if we keep seeing the market go up over the coming months we can participate but as we get a 9%, 10% move in a matter of weeks we're recommending to our clients to take little bits off the table because we do look at 2020 and whether we have a recession or not it seems likely to us that global economy will

slow in part because u.s. fiscal stimulus disappears and turns into a drag and china structurally is slowing and europe is the most vulnerable. if we have a goodyear this year that's amazing but let's not be greedy take advantage of it and inkplentally take some money off the table and move it into more defensive pockets. >> would you look hard at industrials which is the stek r -- sector leader to date? >> if the dollar weakens which people expect. even if we see a china become a current account deficit country. we've seen huge runs in oil service, semiconductors and a host of other russell 2000 you play quality here. no matter what asset you're looking at whether it's equities, fixed income, whatever you're doing right now you

gravitate torts quality. better companies will outperform and i think that it also limits some of the headwinds you might face going forward >> thank you all coming up, the great amazon debate was this a victory for the people over corporate welfare or a terrible mistake that will cost thousands of jobs, billions of dollars that have ripple effects widely amazon's decision has turned support nears to protester contessa brewer is at amazon book store where a demonstration is about to begin. >> reporter: it's already under way now. guess what these are guys that saw amazon as a potential gold mine their hopes were dashed. instead of blaming politicians they have amazon squarely in their sights i got more on what's the beef ahead on "power lunch" [leaf blower]

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he borrowed a million dollars and then when they pulled out yesterday, he got left in the lurch. >> if we're not good enough for them then maybe they are not good enough for us we won buy their product if they don't want to talk to us let's talk, let's hash it out. >> reporter: he's hoping that politically they can encourage amazon to come back to the table. when i said to him look amazon said they would focus on virginia and nashville they might add jobs elsewhere in manhattan. for now this looks like a done deal he said no never a done deal at this point they are asking new yorkers to follow a call to boycott amazon we're out here in midtown manhattan. >> tyler, only a couple of people there >> he wants to bring amazon back to the table by calling for a boycott of amazon. sometimes you want to use honey. that doesn't make any sense to me

>> reporter: i asked him about that specifically. >> all nine of the protester contessa, thank you very much. let's talk more about this hot topic with howard dean and ceo of park street strategies long time washington hand gentlemen welcome. governor dean, without taking a position on this at all, why does a multi-billion dollar company, one of the two or three most valuable companies in the world need any subsidy at all to locate a headquarters? >> they don't. they don't but, and i went through this as governor multiple times, although amazon never offered to relocate in vermont. but the problem is that everybody does it. amazon set this up so they have to do it when the state next door is offering -- this is an estimate of $28 billion worth coming in to the coffers of new york state and new york city. to pay $3 billion which you aren't paying it's tax relief

seems like a good deal if the state next door does a better deal they will get the 30 jobs that's why we do it. they don't need the subsidy but they get it because it's a gold mine for the citizens. >> did this go wrong governor dean because the negotiations were so much held in secret, number one and because the state did not get from amazon the kinds of contributions to infrastructure improvements, to housing and so forth that amazon clearly might have been able to pay if they negotiated harder? >> i actually think the way amazon set this up was bound to result in something like this, because in order to do something like this you have to pre-sell it there are always nay sayers to every deal some reasons they are nay saying are decent and reasonable and some are not

but there are always nay sayers. the way you gate deal like this done you and the company go sell the deal to the public and then when you find out what they are really upset about you have to change those things. amazon didn't set it up that way. it was our way or the highway whoever has the highest bid gets it the mayor and governor were in these negotiations they didn't go out and sell this pretty hard to sell something unless you have some control over what amazon is willing to do if they put in writing there will be 10,000 jobs for the people in the public housing nearby and going to do some things, some amenities for folks who felt like they were going to be disadvantaged they might have got en the way it was set up they didn't have chance it was everybody's bid you opened up the bid and that's how it happened. amazon didn't negotiate. they didn't have to. they have 20 other places they can go >> there was an interesting comment this morning

the comment was i think it's stupid for a rich state to drive a company out. who wouldn't want rich people? >> i don't think it's a question of driving rich people out i think it's a question of at what point does the taxpayer willing to subsidize a company that makes billion of dollars in profits. think about it in terp of the amazon case in new york. they are asking $2 billion to create 25,000 jobs which works out to about $80,000 in rebates for jobs now that's a pretty tough sell under the best of circumstances. when you have a company that also pays on average between 2011 and 2016 paid about 11% tax rate last year paid zero, on $11 billion in profits >> you don't think a single job other than the -- they only get the $1.2 billion if they create the 20,000 jobs.

>> there would be jobs created at some point when you make that much money when you're worth that much in terms of your market cap which literally is in the billions when the person that owns the company is a billionaire >> they don't have to come to new york so new york is trying to make it attractive to them this is how this is working. >> this should not be the city having to beg a company to come to them. >> but that's the situation the city is in >> on top of it having to subsidize them i hate to say it and this is the choice and this is going to get worse. this is bigger than amazon there's a lot of frustration in this country between income equality and what they see unfair subsidization of companies. >> i understand in the foxconn and tesla situation in upstate new york if you look at the specifics of this deal won't this be worse for queens, worse for long island city in the the long run. >> that's the right question to ask. >> no it's not

>> yes it is >> this has been going on for 25 years. >> it's been wrong for 25 years. >> chris >> you don't have to do it but your choice that you just laid out. it to hear why that's not the right question that should be the question. why shouldn't we say if not amazon then what is the future for long island city what's is the future for job creation in new york couldn't this have given us a big advantage to jump start job creation in manhattan. >> here's the reality what amazon is trying to do in terms of their business model where they want to go is adopt more automation. amazon go store model is something they want to push. we know there's been studies that have done that show in the next decade or so the potential job losses in retail -- >> you're against amazon >> no. i'm against subsidizing multi-billion dollar companies on the backs of taxpayers because taxpayers are not in the business of having to subsidize a company that can afford to

open a headquarters there. this is a different question of let's say subsidize a company that's trying to promote a new product. innovative new roduct. that i can understand to some degree you're talking about a company that makes tens ever billions of dollars in profit. >> for amazon to make any profit -- >> what you have to decide -- there's only one question you have to ask. would long island city have been better off if amazon had gone there. the answer is if you crafted a deal better for the local people the answer is yes. now nashville will be better off and that's too bad >> also a legitimate concern of current people who live in long island city and say wait a minute, what about my rent that's going up, hat about my subway >> that's legitimate >> wouldn't your answer be so going forward what's the right way to say hey we want this to work for you -- >> if amazon had been willing to do this and their bidding structure was different so they

had a dialogue -- amazon, we want $3 billion worth of tax savings. in return we'll invest a certain amount in affordable housing, provide jobs to people who live in public housing whose rent won't go up unless it's based on their income there's a deal to be had but too late now >> so that's the problem that i think so many taxpayers have an issue with this idea this is a trade off. this should not be trade off in order to get amazon to come to new york city or any other city we have to give them billions of dollars. can they afford it can they afford to open it without subsidies. the answer to that question is yes. you shown have to pay $80,000 to a company that makes billions of dollars in profit that doesn't pay federal taxes zero last year shouldn't have to pay them to open a headquarters. that is what's wrong in this country.

that's why so many taxpayers -- >> i agree with everything you just said and the fact is as a result of this this plant is going to nashville and virginia and those are the places that will get the 30,000 jobs you have to live in the real world. i agree it shouldn't be this way. >> i too live in the real world. >> gentlemen, gentlemen, gentlemen we have to leave it there. thank you very much for a very spirited debate. by the way a majority of new yorkers did want amazon to come subsidies and all. thank you howard dean. the real estate impact of amazon's decision what about all those people who gobbled up land hoping it would soar when amazon moved in will that real estate get cheaper. plenty of companies to report this earnings season walmart out on tuesday should you shop for walmart shares now trading nation is up next on "power lunch".

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craig, stock is actually making another valid attempt over the $100 a share mark. all time high was 110 of january of 2018. how does the set up look for the numbers? >> i look at this chart. i'm not going to trade this on the long side because the trade set up to me looks like this you pull up the longer term chart you can see we have $9 back to the old highs. $9 back to the long term from my perspective i got a divergence happening and from my perspective i want to trade this to the down side, given some consumer numbers we will get that retest back i would trade this on the down side >> john, you know, as craig suggests some cross currents on the fundamental side for walmart. we had that down side surprise on government reported retail sales yesterday but walmart has been performing relatively well. kind of a defensive play in the

sector how would you treat it here? >> i would not be buying walmart ahead of earnings. we had this disappointing december retail sales number walmart still generates $500 billion in sales on an annualized basis and paying 21 times earnings for it. stock ever only down 7% in the fourth quarter with the market down 12% so i would be on a wait and see hold and see what the company has to say at least from a fundamental standpoint >> specifically what would you want to hear from the company once they report >> let's see if there's any impact from on a cost side from china, from the trade tariff situation. i want to hear, you know, the jet.com team has been there for a couple of years. i want to see what cultural shifts they are making how much they are pushing out the ecommerce portion of the business because when you're a big box retailer and you have sales that large, large numbers kick in and hard to grow the top line. the market is baking in their

ecommerce business will continue to grow at above market trend and that will help move the needle >> we'll in be listening for that thanks for joining us. for more trading nation head to our website or follow us on twitter. oil market soaring let's go to dominic chu. >> we saw a nice big move to the upside for crude today wti crude up 2% on the back of some optimism surrounding opec led production cuts. headlines we got saudi arabia announcement that it was going to cut over half a million barrels more per day in march than it was expected by analysts also take a look at brent crude prices climbing about 56 bucks to highest level so far this year around 6% for the week nearing about a three month high keep in mind earlier this afternoon we got those weekly baker hughes count numbers oil rigs in the united states, count rows by three to 857 total

rigs tyler, back to you >> ahead on "power lunch" amazon no longer setting up shop in new york city. the impact this could have on real estate in queens. plus the biggest hedge funds getting more cautious? we'll explore that an all-star interview with the commissioner of the nba adam virtually will join us live. all this when "power lunch" returns. >> announcer: now the latest from trading nation.cnbc.com and a word from our sponsor.

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welcome back, everyone i'm sue herrera. here's your cnbc update. at his rose garden announcement he'll declare national emergency on the u.s. southern border president trump said he was looking forward to his upcoming summit with north korean leader kim jong-un in vietnam later this month >> we have also established a very good relationship which has never happened between him or

his family and the united states they have really taken advantage of the u.p.s., billionited stats of $have been paid to them >> u.s. attorney general william barr leaving his home en route to the justice department for his first day of work. ignoring reporters shouted questions. he's charged with overseeing special counsel robert mueller's russia investigation and will decide whether and how to make that report public and jimmy carter and his wife rosa lynn stole the show last night at the atlanta hawks-new york knicks babl game. the couple were highlighted on the kiss cam there you go the former president obliged by giving the former first lady a smooch overshadowing the knicks first win in 19 games. that's the news update this hour melissa, back to you >> she looked like she was

humoring him >> that's what i read when i saw that >> i don't know. i just think they are an amazing couple let just put it that way >> very key moment tyler said what a way to spend valentine's day at the atlanta hawks. 90 minutes until the close bell. let's get a check on the rally do you up by 1.4%. s&p 500 four points off the session highs up by .8% and nasdaq up 28 points or .4% official, nbc news reporting sarah huckabee sanders has told report terrifies president has signed the spending bail few moments ago so that officially does avoid another government shutdown so we have the markets firmly in the green. amazon's decision not to come to new york city threatens to have a big impact on the real estate market here rocket frank has that story. >> after amazon announced last november it was coming to long island city local real estate

exploded between november and february 10th there were 135 sales contracts signed in long island city that was up 181% from the year earlier period over a half a billion dollars of commercial space and multi-family dwellings were sold during that same per prices jumped as investors speculators, even amazon employees fought a lot of bidding wars to buy townhouses and don'ts those houses may be hard to unload since there's an increasing pipeline of new condos real estate agents said some deals headed to contract have gone dark. shares of sl green really, was under pressure yesterday vornado realty also one pressure but some say they will recover quickly. some say all this publicity over long island city real estate could help in the long term.

>> stay right there. let's talk more about this in terms of the fallout joining us is the ceo of modern space which a brokerage based in new york city. it's extraordinary what you say happened after the announcement you had 200 units in long island city, the amazon's original announcement it was going to long island city, 200 units sold in two weeks 20 units you sold via text message within 24 hours. five units on thanksgiving what happened after they nuclear weaponsed their decision yesterday that they weren't going to go after all? >> we're still doing deals nothing has changed. the market is going to stay. it was great three months ago before amazon made the announcement and continue the way it was prior to amazon long island city has been an exciting and hot neighborhood for the past ten years it will continue to be a hot and exciting neighborhood. >> this isn't wishful thinking or pitch for everyone who is thinking of pulling out? >> not at all. my company is based in long

island city. we have a 70% market share i'm not worried at all business for me will be fine regardless >> come on you got to figure that if 25,000 jobs were going to be landing right in your neighborhood business was going to be better. i'm not going to say it's going to be bad for you but it would be better. >> i won't argue that. of course it was going to be better 25 house to people a good percentage would be living in long island city but also living in other places like manhattan, brooklyn, new jersey. three months ago it's going to be the way it was three months ago, absorption rates will go at the same pace it was earlier last year in 2018. it will continue >> what are those people going to do who bought the 200 units you sold have you gotten any word from them have they gone through on closing on those deals have you gotten any calls on

backing out of the deals when amazon deal was still on your pace must have been brisk in terms of inquiries in terms to buy what's happening on the flip side >> no calls yet. last 24 hours it's just neighborhood people and local businesses and wondering what's going on if this is our last chance, if they left or who knows what? a lot of people who bought was actually 300 not 200 but people who bought were pre-construction units in buildings that haven't closed. they won close for another eight, nine, ten months. we'll have to wait and see i don't think any of those >> check if your cell phone on every broker i talked to of getting bombarded with calls and texts from people looking for contingencies to get out of those contracts. is there any possible clause they can use if they did want to get out that maybe an amazon clause or something local

conditions can change. any legal way to do that >> if you spoke to those brokers most are mine and work for me. i down that would happen as for regards to clause anybody getting out, there was nothing in the contract that said if amazon doesn't come here you can leave. >> go ahead. >> everybody unders when you purchase an apartment in a new development there's no contingencies. >> it will remain a bedroom community. could have been more than that you said you feel bad for the local restaurants and mom and pops >> correct i drink the long island cool aid. i'm on the board of several local organizations. we've been sitting down with amazon for the last few weeks. this is a shame what happened. only because a few numbys and local politicians had their egos

shot or marching to some other politicians drum beat. it's a shame we do about probably in my career close to $9 billion in transactions i would like to maybe do one more deal. jeff bezos if you want come down to long island city. amazon you have my information we'll sit down with cuomo. let's make this deal happen. >> you can give us the scoop, erik >> will do >> thank you so much to the bond market rick santelli tracking the action at the cme. >> if you look at the chart going back to last january what you showed notice is we're only about ten basis points off the low yield close of the year and we're basically trading in the zone we haven't seen since the beginning of last year when rates zoomed up to three and a quarter. so as much as the data has held up and our economy is doing

better than others the downward pull of global rates is having an effect in the u.s not just there the vix trading at 15. we reversed all the odds look at these etf rebounds trading at a four month high if you look at the muni etf, it's at a one year high. if you look at the dollar index which has been the star all week, once again it's still up at lofty levels but we lost the 97 handle again. every time the dollar gets above 97 it has a short life traders are playing the range and selling it every time it gets up there and backing away once again tyler, back to you >> coming up, we will go live to charlotte, north carolina the site of the nba all-star game and nba commissioner will join

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>> big hedge fund revealing their latest trade less risk. >> embedded in the multitude of filings is clear trend hedge funds derisking in the fourth quarter they are deleveraging and selling out of equities all together they soured on big cap tech and specifically fang. berkshire hathaway sold some of its shares tlsz 1 financials turned out ooh omega selling shares in large banks like bank of america

and citi berkshire sold some of bank of america but sold their position in jpmorgan. these positions are 45 days old as of december 31st and they have changed in the six weeks since. >> thank you very much nba all-star game this weekend commissioner adam silver will join us nt.ex

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the nba all-star weekend kicking off in charlotte today more than just a game and a slam dunk contest the league also hosts a tech summit showing off cool things like a jersey to change its name and number my son will want me to get that. for him. eric live in charlotte with the nba commissioner eric >> tyler, that's right here in charlotte at a local food bank where the nba and commissioner and michael jordan doing a day of service, helping out a lot of people that could really use it an pleased to be joined by commissioner silver here on cnbc. >> thank you for being here. >> thank you for having me are you getting offers to go run a different league or some fortune 500 companies? shareholders out there thinking maybe you run their company. >> i'm flattered but i'm not going anywhere i love my jab at the nba the nba has never been on a

greater trajectory i think, you know, i know you talked to other team owners today. michael jordan's here. one of our owners. things are fantastic here. >> you've had an amazing five-year track record that's what people look to and say you have done a great job as the ceo of this business a lot of ceos, publicly traded shares and traders say it's been a good run, the good news is baked in i'd be a seller rather than a buyer. don't you think someone would be smarter to sell than buy a $2 billion team >> not at all f. there's a public market for the teams they would be trading at higher evaluations. the discussions i have i wish i had something to sell them right now, i mean, think about the global opportunity for this league, we are doing all kinds of new things in africa, china, india. we're having new initiatives in sports betting as you well know. i think just the popularity of

the sport generally of this sport never been greater kids are playing basketball all around the world so we had a business summit this morning and i true law think the best days of the league still ahead of it and even michael jordan was saying the same thing. >> we have a question coming from tyler in the studio tyler, go ahead. >> i don't know whether commissioner silver can hear me or not but maybe you can relay it it's an observation and question i am amazed at how well the nba has turned itself into a 12-month a year subject of sports conversation. the question is, like some other leagues, you have got some teams and franchises that are haves and some that are have notes and some spends on the size of the market and other cases it depends on the stadium deal or the arena deal how do you think about not only competitive balance but the economic balance when you have that situation of haves and have

notes? >> tyler's question is, competitive balance between haves and have notes how do you balance that in a league where there's small and big markets? >> well, there's no doubt that over time we can do a better job creating more competition in this league and very lit toll do these days with small and big markets. think of a player like giannis antetokounmpo from greece by way of nigeria, a global icon and plays in milwaukee i don't think anyone thinks if he were down the road in chicago somehow he would be more popular just based on that and this day and age it is about success on the floor so i think there are things over time we can do deal with in terms of competitive balance and very lit toll do with market size and players tended to congregate together in certain markets. we had a spike in the cap allowing golden state to bring in kevin durant. i think you had a player become a free agent, a desire to play

on a top-notch team and he went so those are things to be worked out over time and increasingly not about market size. it is about management in this league and it is about developing a great culture and winning. >> there's a question from new york because they're so media focused, for lebron doesn't make the playoffs, a big star, a big market what does that do to the league and media partners and maybe as a commentator on tnt and espn? >> let me begin by once again i don't think it has to do with the market size. lebron is a huge draw in the united states, globally. whether or not he was playing in cleveland, miami or l.a. so obviously, if lebron if it turns out don't make the playoffs with the lakers, that will impact ratings and only way the next generation grows a large following issing with being in the league and he brn's still one of the best players in the league. >> if you had a pick an area of growth, is it e-sports

is it international growth or is it sports gambling what's the number one way to grow the nba next five years >> internationally only because as your listeners well know that the united states is less than 5% of global population and this is a global business so i think that the most immediate expansion will come by additional distribution through streaming media of the games around the world and obviously e-sports continues to be big, as well. sports betting in the united states an how quickly sports betting is rolled out to lots of other states legalized in eight states. 35 other states consider it and not going as fast as others predicted. >> thank you for coming here on a busy day a lot of chaos and good work done here at the local food bank here in shar lot slam dunk contest term night back the you. >> did you see michael jordan, eric >> michael jordan's right over there. he is right there. they were doing boxes together. >> maybe we can -- >> right down there.

>> go get him. >> maybe an autograph for you, kelly. >> bring him on. >> for "closing bell"! >> yeah. >> i think time's running out. >> we would love this. >> thank you, guys, very, very much eric and commissioner silver maybe he will pop up elsewhere fortune 500. who knows? >> definitely. thank you for watching. >> "closing bell" starts right now. see you tuesday. ♪ happy friday welcome to "closing bell." i'm ra eisen. >> i'm david faber. >> good to have you here we'll talk about the state of retail gearing up for a big week of earnings. former sacks ceo staeve sadove i here. plus kareem kareem