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tv   The Exchange  CNBC  March 26, 2019 1:00pm-2:01pm EDT

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exposure >> i'm going with biotech index, staying there. >> starbucks keeps chucking higher today >> xle >> okay. all right. good stuff dow is now up 115 points that does it for us the exchange with kelly evans begins now a rally for stocks submit a calmer day for bonds indexes are on pace for their best start to the year since 2012 this morning's data showing weakness in the housing market that was before the big drop in interest rates plus, prices are rising as much. red-hot ipo's. a wave of start-ups are set to hit the market that are debaying with giant losing. is it 1999 all over again? >> the positivity right now is
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there all the sectors are higher on the day at one point we were up about 279 points can you see here, up about 113 now. the positivity is there, but not nearly as much so as it was earlier this morning the s&p hanging around the 2815 level, we've been watching for months at this point watch that and the nasdaq up by 2/3 of 1%. energy the best performer on the day today, and you can see here over the course of the past year, the energy etf, the oil and gas exploration of production have some rough goes. as of late, we're watching those energy trades play in here as well the worst performer on the s&p 500 carnival cruise lines, earnings and sales came in better the outlook disappointed they cited a head wind because of fuel prices carnival shares off by about 9%. you can see they're a down trend ever since
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our stock of the day over to you. >> we'll see you in a bit. welcome to the exchange, everyone meanwhile, tech companies have issued the most negative warnings about first quarter results of any sector and the highest number of warnings for 2012 the stocks have had a strong start for the year let's drill down on this now with bob posani. >> no big headlines, we are off of our highs, europe closed a half hour ago. boeing in under pressure today we started at 374 for boeing we're down a little. energy as a bright spot. we're ten cents away from $6 0e oil. energy stocks up 2 or 3% we're waiting for breakouts.
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we're not getting any high breakouts. still littered with the same names. you're looking at consumer names like general mills and her muchy. waiting for some tech breakouts, still a couple points away the global growth slowdown we saw interest rates go down, the market tends to drop trades move up, the market tends to stabilize >> the s&p 500 is now on track for its best gain in 10 years, let's bring in art hogan welcome to you both. what do you make about the strong start to the year there's been a lot of negative warnings from the tech sector it helps just fine
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>> it helps to have a bad end to the year we had a terrible end. that helps a bit, it also helps to have a year where you're down and earnings are up 25%. we've had a few things that have pivoted this year, that are really kick started -- we have the fed pivot in january and get even more done we've had a stabilization of the down draft of earnings the s&p 500 is where it's been after three weeks. that's the first time we've seen that stabilization there's an impression we're going to get a deal done with china. i think those three things are helping propel the markets here. >> there's a little less talk about the yield curve inversion. it's really the two-year ten year that matters. >> mike has been talking about this for a while this idea that we focus on certain parts of the yield
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curve, those tell stories at certain times. one of the things we've been paying close attention to is the idea that final stocks banks in particular, the regionals, the ones that do more traditional lending have been a weak spot. that's been troublesome. some people are making comparisons on a consistent basis. like in japan, have depressed the financial sector, as we talk about what's going to happen for the coming months, one place the folks are looking beyond the yield curve are whether or not those banks can still thrive in an environment like that where cyclicality -- >> the auction happened at the top of the hour rick, how did it go >> i give it an a minus. i was impressed with this kickoff of 113 billion until supply the offer side of the market was
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227 and the went issued. lower yield higher price solid 2.60 cover that's against a 2.65 ten auction average. and if you consider it's the best since november of 18, it's not too bad. by the way, you were looking at trends in bid to cover the trend auction is 265 the 5 auction trend is 252 the indirect is really stellar, 56%, the best since january of '18. just a smith below average, dealers take a small 30 point 7% of the auction tomorrow we'll be 41 billion 5 but a nice start to supply >> you're now giving an a minus to a bond auction going off after we've had this big slide in rates over the last week or so, going back to the feds
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meeting. you'd think, okay, yields are falling and that's getting a little less attractive, you're saying it's getting more so? >> it's hard to get into the psychology of investors. it would make sense to me, i would be more aggressive in selling off rising rates than rallying with lower rates. then again, if the markets get in sync with the fed, and the fed's in the canoe just floating for a while, it makes more sense to think about it along those lines. >> the relativer form answer of the two-year yield versus the 10 if you have the two year trading pretty close in yield from the ten year which would you rather be. >> it's a strange period you ordinarily don't think you have more of a growth coverage for that, inflation coverage risk premium, you're not seeing any of that right now. >> the worrisome part.
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what does it say about the longer term prospects for the outlook for what we could see for growth and inflation in the 5, 7 or 10 years >> tell us where you think investors should be positioned with all this. >> a quick answer to what you're talking about. we have seen for the last two years, the front end of the curve has been anchored to our monetary policy. the 10-year competes against the global ten-year and the front end is just competing with every iteration of what the fed says we've had a flag for the better part of 18 months now. i think what you have to think about -- >> the president actually speaking live, impromptu at the capitol, he's on his way there from the white house you want to listen in. >> that was it, to listening in. arthur, finish your thought, please >> one of the things i always tell invest irs to be careful
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of, it's attractive to look at things like utilities and staples and reeds in this environment. you're searching right now staples is trading at some of the lowest yields for a long time. >> would you avoid them? >> i think they move around pretty quickly >> where would you be? >> reeds are okay. if you're looking for yield, that's where we would go away from that, you'd look at technology, i think energy has an up side to it, i think that technology is going to have a good run here. i think as a counter intuitive plan, financials are very cheap. >> thank you so much a mixed bag of data in housing today, starts last month, coming in weaker than expected building permits dropping as well none of this affects the recent drop in rates for the 30 year fixed mortgage in the last few weeks. >> the chief economist at the national association of
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realtors diana, first to you, in a way, it's not a drop, the slower increase in home prices, plus low rates could help affordability and the market, right? >> it could help the market, if you're going into the spring market right now, and have you the lowest rates we've seen in over a year, and you see the price gains shrinking, it's a great time to get in to be a buyer. what are you going to buy? >> we saw housing starts drop year over year the builders need to step up obviously, create more entry level housing, what is available for sale is on the pricier end even that drop in mortgage rates is not enough to make up for that pricing market. >> i'm curious if you can speak to the regional dynamics, and if the salt cap is having a negative effect across california and new york in particular is that part of why those markets are softening with other parts doing well what are you seeing playing out
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across the country >> the market is a slower market, and no doubt the limitation on salt is having an impact on the higher end market. and consequently, the northeastern states of new york, connecticut and new jersey softer california, i would say is more affordability issues right now we are seeing a revival of interest. one looks at the closing datdat furthermore, we track some of the softer data, such as opening up the lock boxes, we have a century lock company that measures how many times the lock boxes are being opened to show clients a home that is rising buyers are clearly taking advantage of the lower interest rates. >> that may be my new favorite economic indicator i didn't know you could track the lock box activity out there in the housing market. >> diana, same question to you are we seeing regional variability here or is it the
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same message no matter where you look >> all housing is local. in pricier markets it's going to be more difficult. it's just a question of supply at this point. we're seeing big markets with great economies. in dallas, austin, texas in charlotte, north carolina or in virginia where you talk about the amazon effect. you're seeing great demand there's a lot of buyer traffic coming through these homes will that traffic translate into closed sales if mortgage rates stay low, you will see a more robust spring. it was interesting today that everyone was kind of on the fence, i talked to a lot of analysts who come out saying, we think there's a lot of demand here, there should be all this pent up demand but we're still worried about that affordability. on the kbrit sibright side, i to one analyst who said, big builders are starting to enter the mark petp especially for the big production builders who can build a lot of smaller homes more cheaply in a production
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line they're going to be moving and that is some good news you. >> mentioned the high end of the market is weak do you see the lower end holding up >> lower end is very hot anything that shows up is being grabbed by the buyers. sometimes multiple bidding still hanging around in markets. there is a demand, along the millennial generation it's just a matter of inventory choices. the consumers are saying they want to see few homes. we need increased supply on the lower end. >> i think we opened 30 lock boxes before we found one we liked. here's what else is coming up >> your music, your browsing, your health, and now your finances apple launches its own credit card, boasting a slew of perks one expert says it's more bite than bark.
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we're going to party like it's 1999 many of hot ipo's set to hit the market make no money is this a repeat of the dot com bubble and the drive through may soon know what you want to order before you do.
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welcome back, apple announcing it's partnering with goldman sachs and mastercard it will have no fees, cash back rewards paid out daily dynamic financial tools, plus a card made out of titanium. it could be more gimmick than game changer joining me with their takes are kate rooney. it's great to have you both here what does differentiate apple card from what's already on the market if anything >> the biggest differentiator is the titanium card. it's a really cool laser edge. >> couldn't someone else come out with a titanium card tomorrow if that's the case? >> they could. >> when you look into the meat of this, the rewards, the fees, the interest rates all that stuff exists on other
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cards. the big differentiator here is the metal itself or the apple name >>. >> they're clearly looking to sell the interface, that's why i wonder if it's a glimpse of having larger aspirations p.m. >> it sounds like that, and especially, you think of all these tech companies, that's their thing, having the cool interface, no fees these cool looking credit cards. i think that's going to be a credit to thin tech, why not go on your iphone versus going and getting a brand new account, a brand new credit card. >> i wonder too. yes, i understand it's just a credit card, and it's not as if apple is going to become a bank tomorrow, is there a way in which they could say -- those types of features where it's rounding up to the nearest dollar to help you save. or other things that are already
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embedded in this card, that suggest they can take on some of those aspects if they wanted to. >> i think so, the big worry is if they ever got into customer deposits even just the customer base in general, apple has a really large and loyal customer base. the security aspects of this, they don't have a signature, there's no number on this card as far as keeping your information safe they proved you're able to provide something that won't be harked and if you do get hacked you're going to the genius bar. >> there's not a number or constant changing security code. is this likely something that we're going to see others adopt? >> it's blending the app with a physical card.
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what i would have done is go all in on one of these categories, having something truly differentiated in fintech. take on mint for instance. or have a mega signup bonus or really amazing ongoing rewards or some incredible zero% offer they did a series of half measures, they have enough cash on their balance sheet i would have gone all in on one of those and gain that market share >> how would you do that right now? 2% cash back, 3% on apple products, what would be a enough >> you can get 2% cash back on the citi double cash 3% on the mobil bank card. i think 3% cash back on everything would have gotten a lot of attention maybe worth $11,000 or more. that would get more people's attention. >> but it would also cost money. even with the chase card, sapphire and others have almost done too well. we don't care, we want these
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people for the long run, it's worth it can apple afford for this to be a loss leader? >> it's a fair point what i would do for the future, i would get in now, try to gobble up a ton of market share, maybe take cash off that balance sheet and get more people in the door, that's what we've seen in china. those services are really becoming the rails that proceed ses all of these financial transactions. >> through messaging >> it's hard to do in the u.s. because of regulation and it's hard to get a bank charter, i think there are ways that these social media companies could be doing more, because right now, like apple pay, it just processes through the existing rails. i think there's more that could be done. >> irwonder about on boarding people too a credit card implies you have credit who's responsible for saying, you don't qualify for the apple
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card and is that a brand issue? >> what happens if you have an iphone and can't get access to the credit card. whether they have larger intentions here, we'll see i think you're right thank you very much, kate rooney and ted rossman. a lot of the tech companies going public this year have one thing in common, they're not making money speaking of 1999, mcdonald's is making its largest acquisition since then, when it rkught boston maet this one is all about machine learning shipsticks.c om! no more lugging your clubs through the airport or risk having your clubs lost or damaged by the airlines. sending your own clubs ahead with shipsticks.com makes it fast & easy to get to your golf destination. with just a few clicks or a phone call, we'll pick up and deliver your clubs on-time, guaranteed, for as low as $39.99. shipsticks.com saves you time and money. make it simple. make it ship sticks.
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welcome back to the exchange bed, bath and beyond is a big story today. three different activist investors prepare to replace the company's entire board at the same time, raymond james is saying the company could be right for a merger or to be taken private in the foreseeable future a 25% surge of bbby. elon musk has won a securities lawsuit tesla up 2 1/2% today. medicaid stocks are under pressure following the trump administration's decision to side with texas and gop state that is want the whole affordable care act thrown out molina is down almost 9% >> here's what's happening at
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this hour. acting defense secretary patrick shanahan appearing before the house armed services committee after signing off on a plan to shift a billion dollars to boarder fence construction the committee chairman opposed the move >> what everyone feels about the boarder wall, to look at the pentagon as sort of a piggybank/slush fund where you can go in and grab money when you need it, really undermines the credibility of the entire dod budget. duke university has chosen to settle a lawsuit. they knowingly submitted claims for dozens of research grants that contain falsified or information. major league baseball suspending larry baer without pay through
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july 31st. he was in a physical altercation with his wife in a san francisco plaza on march first you are up to date that's the news update at this hour kelly, back to you >> here's what's ahead on the exchange >> carnival hits rough waters. your next car may be more expensive than ever. spielberg's apple appearance is causing an uproar. each day our planet awakens with signs of opportunity. but with opportunity comes risk. and to manage this risk, the world turns to cme group. we help farmers lock in future prices, banks manage interest rate changes and airlines hedge fuel costs. all so they can manage their risks and move forward. it's simply a matter of following the signs. they all lead here. cme group - how the world advances.
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let's catch you up on a few stories today that should be on your radar dominick chiu is back. let's talk about purdue pharma which just agreed to a settlement with the attorney general of oklahoma. the wall street journal is reporting that purdue will pay 270 million to settle the first of over 1600 lawsuits. >> this is huge only because of the sheer size of settlement number one and then the natural inclination
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is to try to translate that into 1600 other cases and there's no way this company can survive the company has said they have to look at bankruptcy to protect assets there's no way they can pay out a settlement more than 1600 times you have a national stage for opiod addiction. and this one company is the lightning rod of it. >> if that company doesn't have the resources, is it going to go elsewhere. >> the tobacco settlement in the '90s they do have their viable companies. they're even lower today >> how much can purdue really afford to pay out. >> well, the family that owns purdue, quite a bit. >> you had purdue paying 270, of that 270, 25 million of that
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came from the family for years they said they were passive shareholders in this now it emerges from the massachusetts case that they were directly involved so they could be liable. they're worth $13 billion, and this is only a small drop in the bucket and their fortune is well diversified. they're going to face a lot of pressure plus now people looking to give that money back. >> is this a prelude of what's to come? other manufacturers are still expected to proceed, including j & j. >> that's a good point look at some of the others that are mentioned, there's not a lot of pricing in of billions of dollars of these payouts to be made >> the question is, is this a
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realtime handicapping? many of these companies could be ensnared it doesn't feel like wall street really feels as though many of these companies that are mentioned, in but perhaps not as clearly focused on as purdue are going to find so much of that fallout. these days, people talk about johnston and johnston. they're more worried about baby powder. >> the family has more resources. moving on to carnival, the cruise line falling as much as 8% today they did beat on eps and revenue, but issued weak guidance fuel prices are going to eat away at future earnings. this on the back of the cruise injury seen with that norwegian ship that ran into some problems this weekend. >> it did. the company lowered their guidance carnival has a european problem,
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bookings are up, but at lower pricing. which is typically not what wall street wants to see. >> that's a great point, we know it's in germany and france and some of these other companies. we talk about friday, the big selloff day. a lot of the weakness was centered there >> if you take a look at, when it comes to travel and leisure, these are some of the most discretionary type stocks. you don't take a nice cruise vacation unless you feel comfortable enough in your income and ability to take that vacation we've been looking towards some of these hospitality companies as bell weathers and they've been pretty good up until now. what i find a little more heartening, they don't mention there's a drop off >> lower pricing >> and currencies. >> and fuel. >> be sure to catch arnold
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donald coming up at 3:00 p.m kind of following on this discussion, up next, auto sales this year are expected to fall by nearly 5% from a year ago that's according to jd power fewer cars are being bought. used car sales are on pace to hit their highest level since the recession. we get headlines all the time now about slowdown in parts of the housing market, the car market these are some specific parts, not necessarily the whole thing. >> they share being interest rate sensitive we did see interest rates start to decline a little bit. like the housing market. you saw prices go up and up and up it became unaffordable for a lot of hard earning workers. people backed up and said, i'm going to rent for now. it's a reset >> the average price of a
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vehicle now. over 33,000, you have to wonder some of these first time buyers, if it's just squeezing out that market >> kevin o'leary talked about this idea, if p you were a young person again, you would advise them not to buy a car. use ride hailing, use lyft and uber >> they're still selling 2.9 million cars a year, relative to the recession levels, we're still way up from there. it's falling down a little bit but it's the first fall in a long time. >> it's odd to see when you have a growing economy. >> critics were outraged that spielberg is pushing apple's streaming service. >> he's going to need a bigger
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pr firm. >> this is a little disingenuous for people to criticize him. >> he was saying all streaming services he might continue to uphold that even working for apple he hasn't said that apple should, netflix shouldn't. it is a little strange for one of the greatest filmmakers of our time, who has loved the awards to then go to apple >> you make a declaration like that, and you're steven spielberg, we want full disclosure you want something that's working on a netflix sort of competitor >> it speaks to this landscape, and whether folks were entrenched in a certain way of doing things are married to that platform a little more in this case i would not decide to not watch or watch a movie because of that particular comment. but maybe it's one of those situations where folks do tend to gravitate more toward certain platforms because of the
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filmmakers are involved in >> they like what they do or don't. i don't think many people will say, spielberg is a hack, i'm not going to watch his films bad news for peloton users this is a crazy story, they are yanking classes that featured music named in a big publishing lawsuit filed against the company. nearly two thirds of the cycling classes in peloton's on demand library are now offline. one user commented, i want to cry. i had over 20 book marked rides and now only one is left i'm so sad >> what is left. >> you get rid of all the songs, is it work out to kenny g. or someone yelling at you. >> it's astounding to me that they didn't get this stuff approved and licensed before they launched.
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what kind of deal are you going to get >> you're so small -- no one really cares >> is this the under the radar type offense >> the business model that works while you're small until you have to stand on your own two feet >> until you're about to go public with an $8 million valuation. >> it's certainly notable here >> having a peloton bike in your house is a big investment. it's over $2400. the monthly subscription fee is around $40 a month >> that's why the customers are upset. put invested a lot of money for this >> maybe you should be paying $10 a month. >> people who are big fans of
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peloton are going to say this is the best thing that happened since jane fonda leggings. >> they think peloton is the way to go, even if those classes they loved -- >> i feel bad for some of the instructors whose classes are gone forever now >> yeah, they were tied to songs. from a negotiating point the only thing that was dumber to not do it in the first place is to have a huge user base that's really upset. >> now they're going to have to pay a little more. they could have tried to resolve it instead of paying up. i'm surprised they didn't go that route it undermined the whole thing. >> that's my point, once that number one they just should have paid it, whatever that number was they were already negotiating they should have done that
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>> this is detante >> maybe not the leverage. >> thank you all lyft is the first of this year's ipo's that are set to debut on friday. we'll take a look at why investors have such an appetite for money losing companies no matter where you are in life or what your dreams entail,
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lyft is expected to go public friday. it's going to be the first in a wave of start-ups according to the wall street journal that are debut i
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debuting giant losses. elliott, how unusual are the losses for this year's round of companies? >> they are record high when it comes to u.s. start-ups. $911 million last year i thought dot k078 was full of giant losses this is the biggest 12-year loss -- 12-month loss. >> what about facebook and google back in the day before they ipoed >> both of them were returning profits by the time they ipoed >> it's one thing if you're losing money, because you're growing so quickly it's another thing if you're losing money, all of a sudden have you to make money on your own without that >> part of the reason they've been able to grow so quickly
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they are burning cash at this point. they've allowed companies to put growth first and profit second private investors have been receptive to that. we're going to get an indication whether public investors feel the same way lift is above the specific range. when it comes to uber which is expected to ipo in the next month or so. losses of nearly $2 billion this year this is enormous. >> elliott, i wonder, does lyft, we compare them with uber. does that have a path to profitability based on its current business model do they have to raise prices to get there? >> that is the question. it does not have -- we will be profitable by this year.
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it's sort of up to the investors to infer a lot of it is how much does the war with uber go on over market share which is where this is going. >> do companies have to make less attractive pricing, the one thing that has drawn them so many users >> i think that's a really good question part of the equation is the drivers. they're profitable, they can keep their drivers and drivers as we saw yesterday you had uber and lyft drivers, there's been some regulatory discussion if they're employed as employees in the future, that's a big change >> where does this leave us? >> we can compare this to 1999, that was a dot com and ipo
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frenzy they're having their best quarter ever, you're seeing pretty good performance. we're seeing a lot of companies debuting it doesn't feel like it did back then do you think investors are being too kind to these companies thinking they're going to be the next facebook and google and not remembering that even those companies were profitable by this point >> certainly that's a lot of what's driving it? >> we need to get into the next big thing. where it ends sort of lies with the fundamental business and how much they can actually make per ride. right now they lose money on every ride >> i think that's fomo in the market now, you've never seeing a ride sharing company debut this is something new and shiny for investors. you don't want to miss that, especially if uber, which is calling itself the platform, a transportation platform and diversifying into so many businesses really is the next amazon or facebook
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>> great stuff appreciate it very much. ordering your big mac at the medical donald's drive through could soon be easier we'll have those details next. plus, would you know what to do with your finances if your life went sideways coming up on power lunch today arthur of the new book shares crucial strategies for preparing li's finances for fe unexpected moments stay with us bank. bank. capital one is anything but typical. that's why we designed capital one cafes. you can get savings and checking accounts with no fees or minimums. and one of america's best savings rates. to top it off, you can open one from anywhere in 5 minutes. this isn't a typical bank. this is banking reimagined. what's in your wallet?
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welcome back mcdonald's making a big acquisition of israeli marketing firm dynamic yield this is in hopes of modernizing the drive through windows. it's the biggest acquisition for mcdonald's since buying boston market back in 1999. kate rogers with the details. >> mcdonald's spending $300 million on dynamic yield according to people who are familiar with the deal the company uses decision technology to help personalize the customer experience in its drive throughs the new menu shows food based on the time of day, whether current traffic in stores and even trending menu items. the tech will use data to instantly suggest and display additional items that customers might like based on what they've
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just ordered the company tested this technology in a few lochs laatis last year and then top international markets. from there, mcdonald's will integrate the technology into digital experience touch points including key yoioskkiosks the experience of the future rollout the store has taken on as it modernizes and adapts to changing customer preferences and analysts i talked to basically said restaurant companies know that customers more than ever want the speed and convenience. sometimes even more so than value and this is the really smart move for mcdonald's because it's forward thinking, keeps them very relevant and make things easier and more personalized >> it's fascinating because back in the '90s, we talked about boston market or the fact they used to own chipotle, this is a non-fast food acquisition. it's a marketing firm to help on technology it's different and fascinating and if i'm going through the drive-in, kate, what's likely to change the menu i'm looking at? are they going to know from my
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license plate, for example, what i've ordered in the past and customized for that? >> my understanding, they'll use the data on what you order and suggest things you like but items that work well in the region they might be popular this, based on the weather, you could see an ice cream cone today. they'll change and adapt depending on those different factors. make it more personal for you, people love that. >> the drive-thru is important >> chipotle is testing and dunkin with a mobile order only drive-thru and in terms of starbucks, $100 million into restaurant and retail start-up tech companies they're helping to foster talent with. a lot of interest in this area >> and by the way, starbucks all time high again today. kate, thank you so much. there's mcdonald's up three quarters of a percent on this news february jobs report
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welcome back february jobs disappointed we only added 20,000 payrolls but not bad as it appears. here to break down job trends and more is carolina fairchild >> thank you, kelly. >> you saw a 3% slowdown on hiring february from last year is that right? >> that is right it was the third consecutive month we've seen a slowdown of hiring on linked in. jobs still there but employers not hiring the rate they were before the end of the year. >> on the demand side, they're looking, the positions might be open or more, some theories say the labor market is slowing because people can't find qualified workers to fill the position. >> there is a component here with the workforce needing to adapt to the positions that are there in the workforce right now. we talk about ai, automation, changing the jobs that are available. what we're seeing is workers move out of more routine jobs into non-routine jobs that don't
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require as much technology. >> it's interesting. you say they're repetitive desk jobs and those on the decline because of technology. >> that is correct so these workers are seeing a decline in jobs and providing more flexibility and higher pay. a lot of myths of people without college degree not seeing enough job opportunities but there are a lot for non-routine work electricians, plumbers, drivers. >> construction, health care, all non-routine and the growth, how much growth are we talking about? and so these are jobs that basically anybody could fill >> the growth we're seeing in non-routine jobs is like mimicking some of the decline in non-routine. 4% growth that's mimicking 3% decline. >> okay, that's happening underneath the surface i'm curious going back to this overall number here about the hiring slowing down. anything more you can tell us anecdotally why companies might
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be slowing up a bit? >> i think what we see on linked in is employees beefing up their profiles to be more attractive to employers perhaps take classes on linkedin learning to be more attractive for the jobs becoming fewer and fewer. >> it is interesting that, you know, because the payroll itself, 20,000, that was a slowdown, but the wage number in there was very good. the unemployment rate comes from different surveys, very good the share of people in the labor force, a lot of positive trends and i wonder, is the slowdown reflecting something in weather literally or trade issues and parts of the economy are slowing. >> there is some of that going on and see an uptick after the shutdown in some of the sectors where there was more of a slowdown because of the shutdown we're seeing more players pick up those jobs. it really depends. also, software and i.t. is picking up this month.
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>> a bright spot caroline, thank you so much. >> thank you, kelly. appreciate all the details the managing news editor of linkedin that does it for "the exchange." i'll join tyler on "power lunch" which begins right now. >> we'll see you in a moment welcome to "power lunch. i'm tyler mathisen new at 2:00 today, bets on a fed rate cut are rising. we'll tell you what that could mean for investors like you. plus, 24 hours later is apple's much hyped tv service leaving more questions than answers? and passwords, bank accounts, wills, investments, essential strategies when life throws you a curveball. stocks in the green right now but well off the highs up about 62 on the industrials, 28 on the nasdaq dow up 280 points earlier today. we'll explore the whys and wherefores as "power lunch" begins

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