year, gotten through some tough territory territory, it's cull out of it well we like it a lot >> john? >> i like fedex. i already said it for unusual activity, we took profited, but we rolled up, i'm still in it. this is going higher >> jeff, katherine, bob, jimmy, joe, thank you that's does it for the "halftime report." "the exchange" begins right now. >> thank you, brian. we'll see you on rapidfire hi, everybody. here's what's ahead this hour. the president just wrapping up a crucial meeting with the leader of south korea trump saying he's discussion potential further meetings with north korea's kim, even after kim today said north korea needs to deliver a serious blow to those imposing sanctions we'll have the very latest plus, a very simple and a very, very costly new scam how criminals are stealing employee paychecks with a single email. we'll talk about how you can protect yourself, as well. plus, the shorts are strangling lyft. is amazon listening to your

alexa conversations? and we begin in today's markets and tech has been on a tear. >> and it's still outperforming. one of the reasons why the nasdaq has been outperforming ever since the lows that we saw back in december, if you look at today's trade setup, we're off just fractionally at this point. off by about one quarter of 1% for the dow. the s&p 500, off just about flat at this point. but the nasdaq, let's put a check mark here it's been an outperformer. if you take a look at the charts for the nasdaq composite, take a look at this, because we are within just striking distance of all-time highs for the nasdaq. we're just 2% away from that and by the way, we mentioned the outperformance, we're up 28% since the december lows for the nasdaq composite that beats the 23% gain for the s&p and the 20% gain for the dow. so the nasdaq, certainly a focus for traders and the stock of the day, no surprise here, it's not as big of an ipo, but still important. pagerduty shares, up by 59%. the share's priced at 24, opened

up at $36.75 and you can see right now, up 59%, 38.14, the last trade there. all of this, of course, the anticipation of what happens with uber later on down the line, kelly. back over you. >> that is a huge mover. dom, thanks. welcome to t"the exchange," everyone i'm kelly evans. in a positive sign for the economy, jobless claims dropped below 250,000 last week for the first time in 50 years they're now down for four straight weeks skb and we had the producer price index this morning core readings overall remain on a down trend and national economic director larry kudlow this morning told reporters, he doesn't think we'll see another rate hike in his lifetime let's drill down on the markets. more with bob pisani at the new york stock exchange. bob, we're going to get a lot of earnings, really starting tomorrow, jpmorgan and so forth. >> and we've gotten a few already. it's a pretty good picture the earnings picture is about to change a little bit and i think it's going to change for the

better analysts have been fretting that earnings have turned negative for the first quarter. now expected to be down 2.5% that would be the first down quarter, kelly, since the second quarter of 2016. but the early returns indicate that analysts may be too pessimistic. look at fastenal reporting today. a boring, but reliable industrial company they beat on earnings by a small amount, gave positive commentary, up nearly 5% just off an historic high look over in europe. luxury goods maker lmvh at a record high. this is the maker of louis vuitton's fashion house. reported sales up 16%. the rich are spending like crazy. that stock also up 5%. overall, 25 companies have reported in the first quarter. already 84% are beating, and they are beating by a much wider margin than usual. 7 1/2 percentage points beats. that's much more than the typical 3.5% beat that we see. and this is likely, kelly,

because analysts have been overreacting in december on concerns about a global slowdown and they cut the numbers too much now these companies are beating by a much wider amount we'll see what happens tomorrow, kelly. >> bob, what do you think about the pagerduty ipo? that is a big number on day one. >> it's a very good number another software company, and they do cybersecurity, they're sort of in the similar space two very hot ipos that priced frankly too few shares these tech companies are floating very small amounts of stock. about 10% in this case obviously, they could have floated 12, 14, 15% more that's more along the license of a typical number so restrict the amount that's available and got a hot stock market, you've got an u po market that's still got a lot of demand and you get that kind of move up. it's very good, kelly, and you want to look for these mid-level ipos that are out there, not just the uber ones, to see how the overrule market are doiall .

>> bob, thanks. now, president trump sat down with south korean president moon at the white house just moments ago. it's their first meeting since the u.s./north korean nuclear talks collapsed. ft. saying in that meeting, this isn't the right time for economic concessions with north korea. he admitted he didn't fulfill what he wanted to in those talks, but the discussing a potential new meeting with kim earlier today, the north korean leader threatened a serious blow to those imposing sanctions on his country. let's talk about the impact this could have across the region welcome to you both. professor, i was struck -- i mean, you had said last night, even ahead of the actual announcement from north korea to expect them to try to upstage these talks somehow. how serious is his threat when he's really talking about the need for north korea to be more economically independent >> well, the north korean leader

a blow to the hostile forces, which always means the united states, who presume with sanctions they can bring the dprk, north korea, to its knees, that's a slightly polite way of kim jong-un of saying, if you don't relax sanctions enforcement against us, we will make -- we will cause more problems for you and in the past, over the past 30 years, in the main, that kind of provocation followed by concessions has been wonderful, a wonderful business model for the north korean leadership, reaping billions of dollars in aid, for simple lip causing problems, being threatening, and toning things down a little bit. but now kim jong-un is smarting from that historic snub by trump in hanoi i'm sure he has never been treated that way by anyone in his life kim is treated as a demigod in his own nation so that was a setback. but kim probably still believes he can call the shots and with another false, illusory

concession, maybe compel president trump, mr. trump to go back to relaxing sanctions and having another show summit meeting. >> michelle, it sounds like the u.s. is not in the mood to relax sanctions. and if anything, given that now he's talking about hypothetically about possible future meetings, what kind of relationship are we back to the sort of old days of 10, 15 years ago or where does this leave things >> i don't think where we were 10, 158 years a years ago, but it has been a setback. the collapse of the talks was very meaningful and signified that the president wasn't going to get as far as he wanted but i think the big issue the president faces today with president moon of south korea, president moon wants to do all the traditional things that historically have been argued for. like, let's give a few economic concessions and that will bring them to the table. the u.s. has been through that so many times, john bolton's not going to buy that, pompeo's not going to buy that. it's a much more difficult

situation for moon today, who really has staked a lot of his reputation on improving this so this to me sounds like a little bit of a desperation by president moon >> and emphasizing your point that north korea has played this into a business model. why is president moon coming to trump? does he think he can change trump's mind is he offering something like defense provisions, which is involved is something like that going to do it? >> last year when kim jong-un made that proposition for the first summit meeting in march, thereafter president moon vigorously lobbied on behalf of the north korean regime, trying to persuade the united states that kim is serious, that he means -- he means it when he says he's willing to denuclearize, he means it when he says he wants to perform the economy and so on, but that sales pitch has grown a bit old from the u.s. side, the u.s. perspective. so it is an arduous task for

president moon to come to washington on what is a seminole commemorative event, april 11th. it is the 100th anniversary of the establishment of the korean provisional government in 1919 so to skip such an important event, to come all the way to washington for a few hours of face time with president trump shows you how desperate moon is to bring about that kind of rapprochement and the illusion of reconciliation, peace, and denuclearization wh wh why, simply because it's good business for him his ratings will go up and the public will support him. >> if he goes away emptyhanded with no sign that the u.s. is softening or coming around to his position, and the idea that sanctions could increase, then what >> then he will voigorously try unilaterally to approach kim web sending a special envoy to kim and so far, but so far, kim jong-un has been unresponsive.

he's very good at playing hard to get, vis-a-vis the u.s. and south korea. but at the same time, i think there's some gnawing uncertainty for kim jong-un. the latest news is that a sha w shadowy group raided the dprk embassy in spain in february is the cia behind it what's next. so that kind of uncertainty, the shattering of the taboo that it's an impossibility to challenge the north korea regime, that taboo has been broken by this blatant act of defiance by a mysterious organization so the sway of forces, the dynamics in the region are not in kim's favor for now perhaps for the first time in some time. >> all right, guys thanks appreciate it very much. professor lee, michelle caruso-cabrera here's what else is coming up don't go anywhere on "the exchange." ahead, boeing and the faa. the two have has a cozy relationship for years but that may soon change

and could have a big impact on the industry plus, streaming prices are rising and it may not be worth it to cut the cord anymore and a prescription for managing health care costs how a simple strategy can help you save more and be better prepared at&t this is "the exchange" on cnbc because your cto says we've got allies on the outside... ...& security algorithms on the inside... ...& that way you can focus on expanding into eastern europe... ...& that makes the branch managers happy & yes, that's the branch manager at&t provides edge-to-edge intelligence. it can do so much for your business, the list goes on and on. that's the power of &. & when this happens you'll know how to quickly react...

welcome back let's get to the latest in the boeing fallout the faa is scheduled to meet tomorrow to get an update on the 737 max 8, the ntsb and boeing are all scheduled to be here phil lebeau is taking a look at the relationship between the faa and boeing and the growing scrutiny >> reporter: and the main people question that a lot of people are asking, should there be processes by boeing engineers who are tabbed by the faa to essentially approve certain things as the airplane goes through the certification process. that's at the heart of the question between boeing and the faa. and that's why they're facing crisp that they haven't been stringent enough, criticism that experts who have been at the faa have said is going to intensify. >> should there be a system where you have regulators, who are not paid even indirectly by

boeing, but completely paid for by the faa that's something that's not just an engineering or an aviation question that's something that will have to work through congress >> that's one of the main questions that's being asked on capitol hill as you mentioned, at the top of the report, the faa and boeing, they're going to be giving a status update tomorrow at a meeting where they're going to be talking with pilot unions, some of the airlines that are some of the key fliers of the 737 max, and the recertification, increasingly, it looks like it's going to have to be a global approval before it happens >> i think in the past, the faa would have just assumed they would be the lead and their decision made in a vacuum would be good enough but i think they recognize that that's not the case anymore, for whatever reason. and they're going to make sure that the wld kind of buys into the decision >> jeff gazette ty also points out that he's skeptical that the faa would be the lone wolf and say, look, we prive, it's ready to fly, but they would

essentially be out on an island before europe, the chinese, and other regulators around the world potentially sign off on the 737 max. by the way, kelly, we get the update, if you will, in terms of when this gets filed with the faa, perhaps by the end of the month. >> phil, stay right there. let's bring in jack nickis from "the new york times" who has been following this story, as well he's out with a new report today on how the software changes on the 737 max escaped faa scrutiny in the first place earlier this week, he spoke with current and former engineers involved in the 737's original design and its three redesigns since. jack, welcome. >> thank you for having me >> we also know the faa has suffered a reputational below from not grounding this plane earlier than it did. what does it have to do tomorrow to convince the public that it's on the right track now >> well, i think, certainly, there is -- as phil noted, a lot of scrutiny on the faa and this is probably one of the biggest challenges the faa and boeing have faced in years

there has been enormous safety, you know, success for the aviation industry for a while. i think the faa is going to have to, you know, be a little more specific about its processes and what happened in this case and obviously, the investigation is continuing. but as we have reported this morning, you know, there's more details now coming out about the faa not doing a safety review on changes to the automated system that is now at the center of some of these fatal crash investigations >> jack, does your reporting suggest that's different, there's something unusual in this case, or is the concern about the way the faa does business ordinarily by virtue of sort of the self-regulation or however you would want to call it of the industry >> it doesn't seem like in this case there was anything out of the ordinary in fact, what had happened is boeing made significant changes to the system at the center of these crashes. it quadrupled the power of the system and also expanded the scope of the system shortly after test flights began

those changes didn't trigger an faa review but really whab the faa is saying, listen, our employees were following the rules we have in place, but now i think that raises questions about, rather than being proactive and maybe thinking a bit more creative about what sort of views were necessary, instead, they were following more bureaucratic procedures, which have worked in the past, but in this case, it may have been too little >> phil, what is the possible scope of changes to the faa that are under discussion >> well, that's a very good question >> phil, sorry, go ahead >> as jack was talking about, in terms of the software and these changes and they didn't catch the attention of the faa, this gets right to the question, are the faa investigators, regulators -- not investigators, but those who are in charge of the certification process, are they stringent enough? are they the ones who are saying, look, have there been any changes here look, there are so many parts that get approval as a plane is being developed and built, kelly, that the question is, are

the faa managers, executives, whatever term you want to use, the ones who are in charge, are they checking all of the ones that they should be checking or is it a case where they've worked closely with some of the boeing engineers and it's not that they think that the boeing engineers are doing anything nefarious, but that they take their word for it and say, okay, these guys signed off on it and we're good with that those are the types of changes that ultimately somebody might be saying, we need to have that changed. >> jack, are we talking about major staffing out of the agency then i'm sure part of this comes down to a quoef resourestion of reso. >> it certainly does i think as phil has noted, one of the reasons that so much has been delegated to boeing, was a matter of resources. congress realized that the faa lacked really the people and the time to do the thorough saanalys that were necessary, so started outsourcing more of that to the aircraft companies like boeing themselves so that might be an issue. but as phil noted, this is a

congressional issue to some degree and this is going to take many years. i want to use a note of comparison when we had a colgan air crash in 2009, which was the last major passenger jet air crash in the country, some of those changes didn't kick in until just a few months ago. more than ten years it took for some of those changes to happen. and this fades from the headlines and people start forgetting about it. >> absolutely. guys, thanks for now appreciate it. jack nicas and our own phil lebeau with the latest on boeing coming up, jeff bezos issuing a challenge to his retail competitors and one of them fired back. we'll have all the details ahead. plus, phishing for your paycheck a look at the latest scam out there and why people keep falling for it and how much it's hexcngneessiss hexcngneessiss "t ehae" is back in two. and they took my toothpaste away. and you should be mad at people who take unnecessary risks.

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welcome back to "the exchang exchange". weight watchers is sinking and on pace for its worst day in two months jpmorgan lowered its estimates the shares are down 11%. bed bath and beyond is also under pressure its same-store sales fell more than expected and it reported an unadjusted annual loss for the first time nin three decades tesla is also in the red again today, after reports that the company and its partner, panason panasonic, have put their plans

to expand the gig factory on hold tesla shares down just about 3% to 268 now to sue herrera for a cnbc news update. >> hello, kelly. hello, everyone. here's what's happening at this hour the editor in chief of wikileaks, lashing out over the arrest of wikileaks founder, julian assange in london, calling it political persecution for doing journalism assange taken to court in london after british police arrested him at the ecuadorian embassy. this paving the way for his possible extradition to the united states. >> if this goes forward, no journalist, anywhere in the world, will be safe from extradition to the united states for doing his job or even to another country. so this must stop. this must end. former penn state president graham spanier has been given three months to report to jail to start serving his sentence in the jerry sandusky case.

spanier has remained out on bail since his 2016 conviction. and the u.s. postal service says the number of postal carriers attacked by dogs nationwide fell to 5,700 in 2018, more than 500 fewer than in 2017. it cites technology as part of the reason the city with the most attacks, houston. you are up to date that's the news update this hour zp >> technology meaning they're not delivering mail? >> i think it's a combination of that and also a lot of postal carriers now basically they have device that they can use, technological devices that, you know, make a loud sound or a high-pitched sound and it scares the dog. >> i'll tell you what our mail carrier uses, dog biscuits it works really well >> mine as well. just about 30 minutes until "power lunch." i'm joined by melissa marie. >> i need one of those devices to keep producers away from me just kidding just kidding okay, on "power lunch," did you see that riteaid is going to

begin selling lotions, all sorts of products that have cbd in them >> i did see that. >> we are going to have the former fda commissioner, scott gottlieb, who was the fda commissioner until the beginning of this month to see what his take on cbd is the fda hasn't issued any official guidelines. but if you are a consumer who's thinking about using these products, if you are an investor in some of these publicly traded cannabis companies, you will want to hear what he has to say and what he has to say about the potential unknowns around using these products >> because this is not the stuff that gets you high, so to speak. >> it's not the stuff that gets you high, and a lot of people swear by this in terms of alleviating pain and arthritis and things like that but there are some real questions about, what if you use lotions on your face and ingest it, the cumulative impact. that's all unknown we'll ask them all about that. >> we'll see you then. melissa, thanks. here's what ahead on t"the exchang exchange". >> coming up, streaming prices are on the rise.

the shorts target lyft are amazon employees listening to your alexa commands and dogs are truly a man's best friend we'll explain. we'llthe rhythm of the world. but to us, it's the pace of tomorrow. with ingenuity, technologies, we create the possible. and when you do that, you don't chase the pace of tomorrow. you set it. nasdaq. rewrite tomorrow.

welcome back let's catch you up on a few stories that should be on your radar. it's time for "rapid fire. here to break down today's headlines are julia boorstin, brian sullivan, who's in rare form, and leslie picker. >> it's not rare, it's very common >> big, big topic of the day, disney kicking off their investor day later on. investors are eagerly awaiting details on the new streaming service. in the meantime, their competitors are raising prices netflix, youtube tv, slingtv, and directvnow all hiking prices >> but hulu did lower the price of their on-demand price either the commercial one, where you just pay for on demand, not for television but here's the thing, disney owns two-thirds of hulu, so they'll be bundling hulu

together with espn plus so we'll have to see what kind of package they give people >> when youtube tv launched, so march 2018, it was $35 it is now $50. that is a humongous increase percentage wise for a service where the entire appeal basically, leslie, especially to cord cutters, is cheapness >> is price! >> it's all about price in this market and we actually still have cable in my household, we pay for that every month in addition to some of these streaming services. $50 is at least about a third of what we're already paying for cable, to have everything. >> and if you want broadband, you're talking about, what, 80 bucks for most households, anyway >> so that $80 and $50 is $130 so if you want an internet subscription plus one of these packages, brian, that's already costing you a pretty penny >> i want to be very clear that there's no company better in this world than comcast. and i say this as a comcast homeowner, and i admit it,

there's still 90-some-million cable households >> it's lower every year >> but the pace of decline has slowed, has it not at what point, julia, do you get to a point -- it's like going for tapas. you order seven things, the bill's $100, and you're still hungry at some point, isn't the old-school cable bundle going to be a better deal -- >> i think what we'll see is the rise of this skinny bundle and one reason we saw youtube raise its prices, because their skinny bundle just got a little bit fatter, as they raised their prices, they added discovery >> i'm sorry >> no, with i think it's really just about the new skinny bundle, which is about digital, more control about how you access it, and less about scrolling through a million challenges and not being able to find something to watch. >> and it's about quality. if your entree will be a whole lot better than the tapas, you'll go for the entree >> i think you say what you want to watch >> i wish we could have it >> and it opens up in various

things >> the currently navigation, i think we have fios, is horrendous your tapas analogy is any new favorite for the streamers >> by the way, the disney meeting, we'll get the details at 5:00 p.m. >> between 5:00 and 7:00 they'll all come out >> let's talk about lyft now people were saying, this was partly because of uber's lowered valuation for its ipo. lyft, up about 2.5% today. it's sill under 62 bucks went public at 72. nearly 44%, we're told, of lyft shares are now sold short. the stock is down 30% from its intraday high. >> it's amazing. it used to be, what was bad for lyft was good for uber and vice versa, and now it's clear that these two things, especially in the public market, and as investors look at this, you kind of want both to be doing well, and that is incumbent upon how

the other one will do. so, for example, just the news that uber was looking to lower its valuations, its expected valuations, that sent lyft shares down. there was no other real news that caused that drop. it's expected over the next couple of weeks as uber's ipo process really accelerates, that every little dribble drabble of news from either company is expected to impact the company >> you talked about how they were pushing to get out first. do you think that's going to turn to be the case over the long run >> i think that's a really good question i think that depends on how you define "advantage. and if you look at the amount of proceeds they were able to raise in this ipo, one could argue that it is more than if they had gone after -- >> 30% more -- well, now, we say, 10 on 62, 15% more than they might have gotten after -- >> it's hard to know >> it goes to the cord-cutting

analogy. yes, i understand there's still more people, but the pace -- the growth rate of ridesharing i think is 4%. it is slowing down pretty much everybody uses a rideshare who wants to or can. so where are the growth rates? is it delivering food or delivering packages. >> or scooters the scourge of santa monica. >> is it the autonomous vehicle. >> by the way, she said dribble drabble, and you didn't give her any -- that's not even a word. >> it's a perfectly acceptable phrase photograph three, if you've ever been worried that a live human slng to what you say to your smart speaker, you may be right. there are reports that they're listening to voice recordings from users, transcribing them and feeding them back into the software there is, i guess, an opt-out feature. but my guess is, most consumers are learning about this as they go >> this is terrifying.

i report on privacy all the time, through the lens of companies like facebook and google but this is the next frontier. this is these voice-automated, voice listening. >> i want nothing to do with them >> listening to us constantly. i have several of them in my house. this is the next frontier when it comes to advertising, to ecommerce. so much business is going to be going on through those devices and so far, americans have proven not to care that much about privacy. this is going to be the real test when people realize that they're listening, are they going to be okay buying these devices and putting them in their kitchen. >> are you going to take yours out of the house >> i thought it was cute what you said to your 7-year-old the other day. i'm kidding! >> i thought you needed a federal warrant to get a wiretap. >> you can put them on mute, but when you say say, hey, google, set timer for -- >> is it that hard to set a timer on a watch >> idon't they just disclose this and say, hey, by the way, consumer, you may be part of this small minority of users who

we listen to help make our product better >> are they listening in romania, though? >> but those disclosures could be buried so deep, maybe if you weren't really reading them. >> there's even been accidental leaks. the convenience will win in the long run, we know. >> police are subpoenaing some of these records in murder cases. >> exactly >> were you fighting in the house? >> alexa says you were there and you were screaming >> yeah, crazy sticking with amazon for a moment, jeff bezos offering a challenge to his retail competitors in his annual letter to shareholders. the ceo saying, i challenge my top retail competitors, you know who you are, to match our employee benefits and $15 minimum wage walmart, one of them responded saying, trying to jab back at amazon saying youb guys didn't pay any taxes. there's the tweet. hey, retail competitors out there, how about paying your taxes, tweeting @jeffbezos that was dan bartlett from walmart. is this smart business of his to

try to get right to the biggest issue for traditional retail right now, which is, they face potential loss of share to amazon, higher wage costs, lower profit margins they are in a fight for survival >> i think that -- i think that, first off, this is going to narrow the income inequality debate overall in this country a lot of this data has not been put entitle. doesn't solve any problems, but certainly it's going to narrow that, in a good way, in a positive way, where you're paying people more for doing a job. i also think, where you live, i think we both live in new jersey, i have no idea where you live and you can't find help. i mean, literally, every store around me has a help wanted sign if you can pay them a little bit more skpe with as consumers should have to pay a little bit more. and we should view that as a little bit of a tax on keeping our neighbor employed and maybe from keeping have that mall an empty store which is gross and brings down all the profit in all the property values around it >> i think it's fine when company by company, they're saying, we can and we will raise

wages appropriately. i do think you have to point out in some cases, when it's done across the border by a lot of communities or states, there's an adverse effect on employment. looks a what's happened in restaurants. employment in restaurants is lower. you put on price controls on something. there's going to be some people who are priced out of the market again, of course -- applaud amazon for doing this. see if retail can follow suit. but i do think we're going to have to take a longer look at the effects across the economy we have to quickly talk about puppy dogs dog owners are roughly twice as likely as cat owners to say they're very happy people, guys. cat owners reported being less happy than people who owned no pets at all. and we need a final comment on this before we can end the show today. >> i have two cats, but they kind of behave like dogs and meet me at the front door when i come home, so i think it counts more as -- >> so you're a very happy person >> causeuation or correlation, people with dogs, because they live in houses and have big backyards where the dogs can run around >> more likely to be married as

well and to have a dog, than to have a cat, which is more likely to have single people. >> we don't have any pets. >> i have the world's happiest dog. literally, the dog jumps 10 feet in the air when i come home. i think it was far side, remember that cartoon? said, the difference between cats and dogs -- i believe it was far side and there was a dog at the window that says, when's he coming home, when he's he coming and a cat writing in a journal saying, day 300 in my captivity. >> in my cat-ivity >> coming up, it's financial literacy month and next guest says there's one thing that people tend to forget when saving for the future that can derail financial wellness. derail financial wellness. we'll have those details, next derail financial wellness. we'll have those details, next yeah, i totally agree, they don't have any of those. i want to know what i'm paying upfront. yes, absolutely.

do you just say yes to everything? hm. well i say no to kale. mm. yeah, they say if you blanch it it's better, but that seems like a lot of work. no hidden fees. no platform fees. no trade minimums. and yes, it's all at one low price. td ameritrade. ♪

welcome back conference board president and ceo steve oddland petting a new

op-ed on cnbc.com today, highlighting the tax benefits of a health savings account to help manage health care costs it's part of our financial education initiative, called "invest in you: ready, set, grow" in partnership with investing app acorn. thank you for joining me, sir. >> glad to be here >> it's glad to have you on set and i'm glad you're highlighting health savings accounts. this is one of the rare triple-tax exempt vehicles that people have access to. how should they best take advantage? >> i think what you're doing on the show with financial education is so important, not only for the millennial generation, but for everybody. but i thinkthis hsa, health savings account is a hidden gem. most people think, that's what you get when you get a high-deductible plan but the benefits are huge. contributions are tax free, the earnings are tax-free, and the withdrawals are tax free, which makes it one more tax free tax break s versus iras.

some people say, you should be doing these health savings accounts >> you're talking about the average retirement health care spending of $280,000 that's in present dollars, obviously. these have to be ear marked for those purposes but it's an obvious way to save for a cost you're going to have down the road. actually, it turns out a lot of people are in them already we're looking at the figures and the participation of millennials, of those who are eligible, is something like 80%. >> you have a lot of millennials in there and you need to contribute more. you can have other contributor, employers can contributor, but they're portable, you can keep them, you can keep them all the way through retirement you can spend on -- you know, millennials don't think about this, but you can spend on, you know, the medicare insurance policy so put it all in there, because you're going to be able to use it all the way through and not lose it. >> if you're one of the people who has not taken advantage, see if you can while you're here, i want to ask you about the jobs market. you do a bunch of great surveys, which actually had lately showed

some deceleration. this morning, we get the jobless claims numbers which is fabulous, one of the best ratings we've ever had for this country. can you dig underneath the surface and tell us what's going on in the labor market >> the jobless claims hit nearly a 50-year low. this is really huge. and compared -- when you put the consumer confidence index, which has bounced around a little bit, but remember, at really historic highs. and the leading economic indicator is very high i think what you see here is that we have gotten to a great place in our economy now, we're projecting at the conference board that the gdp growth will slow it will come down closer to 2 than 3 by the end of the year, but i think -- and i think that's what you're starting to see in the numbers that people are saying, it can't get much better than this. we're really at historic highs, very high levels of employment but you still see people come off the sidelines, people going from part-time to full-time. i think there's still labor supply out there >> is there an issue with -- because the biggest concern for the market right now is any sign

of a slowdown, in unemployment and growth and so much else. are you seeing any signs of a slowdown, "a"? and if so, does it seem to be from a shortage of workers like we were just talking about or a mismatch or any of those things? >> there clearly are labor pressures. the pressures come in various skills and ironically, it's blue collar skills rather than the old college graduate skills, which is where you have seen them in the past, and then there are regional skills. you know, the coasts are more pressured than some of the interior of the country. but you put it all aside, and you're starting to see, you know, supply, demand, and the function of price, so therefore you're seeing wages rise, which is actually a good thing, when you talked about that with walmart and amazon and everyone else >> absolutely. >> so that's great for quality of living. >> yes and that's one of the last piece that would really point to a vigorous economy, is to see that go consistently higher steve, thanks so much. steve oddland is president and ceo of the conference board. for more from invest in you,

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welcome back india's general elections are kicking off today. and it hasn't been without controversy, with fake online political content on facebook, once again a factor, again a fa. seema mody explains what's at stake. >> it is an election like no other. 900 million eligible to vote, making india's national election the world's largest democratic exercise the decision for voters comes down to this allow prime minister modi to continue for the next five years. or give ra hul gandy the head of the congress party a shot. the stakes are high. india is one of the fastest growing economies in the world the stock market up 70% in the past five years. over 500 million indians connected to the internet, netflix, amazon, pouring millions into generating indian content. facebook and twitter working around the clock to get more

indians online while also combatting fake news india has given birth to tech unicorns, ola, flipcart among others backed by soft bank, tiger global and sequoia capital. >> there's a strategy for additional india catching a business model change, a social model change and economic change and technology change and he's positioned his country for the future of that. >> reporter: while modi is largely seen as pro-business experts say some of his actions suggest otherwise. >> the modi government has moved further on increasing fdi caps in a number of different sectors but also moved backwards on increasing tariffs to some extent. >> reporter: experts caution a more protectionist modi might make economist policy a bigger concern for both citizens and foreign investors. >> seema mody joins me now it's interesting you brought up this idea of moving backwards because especially we saw some headlines in regard to amazon

and walmart over the last year or so. even if modi wins or doesn't, as friendly a place for u.s. business >> that's the big concern. even if he does, likely with a coalition where he doesn't have much latitude to get economic reforms in place additionally, more protectionist over the last few months with the e-commerce rulings that make expansion for amazon and walmart, which now owns flipcart, much more complicated. the reason he's doing that is because he's trying to protect the small business, mom and pop shop that dominates india's retail market, making up over 80%. they've been complaining and to win the political vote, makes sure he protects his base and doesn't allow these two companies to really dominate the space and take market share from them. >> that stock market rally has been incredible. so we'll see if this is a repeat of that or a break seema, thanks so much. seema mody. the emails looks like the ceo or payroll director but from a criminal trying to reroute your paycheck. we have the details of this

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after employees' direct deposits what's different about the latest wire fraud scheme, scammers send an email that looks like it's from your boss to update your banking information. ibm's financial group and cnbc.com's tech reporter and j.p. morgan who wrote this piece. let's sketch the outlines of how many people are seeing these emails that appear to be from their boss and how these scammers are able to do that >> this is just the next iteration of something called business email compromise. and last year, the fbi saw more than 20,000 of these attempts. it can be, come in this form, a fairly new one looking for direct deposit information, or it can be trying to convince you to wire money to fulfill an invoice or pay a lawyer or anything like that companies also have $1.3 billion. >> by going this route, they end up having, what, they're able to claim your paycheck?

what happens >> they can take, even if it's just one payment usually people notice that right away but the company is on the hook for that. and so doing this several times a day, by automating this process, they can take several hundred thousand dollars in one pay. >> wow, judith, if the banking system is caught up in rerouting people's paychecks, how do they respond to that? >> well, they work with the small and mid-sized companies to coach them and putting additional processes and security procedures in place to help them prevent this going forward. right now, we have a number of criminals that are taking advantage of the fact that people are very busy and want to please the executives of their firm and are very hesitant to not fulfill the request. and so we're seeing them, you know, provide more coaching advice and providing them a little bit more training in what they can do to improve their

securi security, you know >> alarming not only they're doing this after your paycheck, which is probably the most dangerous thing for any american, judith, but that they would be able to impersonate your boss. how would they have the information or know who my boss is >> unfortunately, they have a lot of information and either they have gathered that by just scanning corporate web sites and finding out who the senior exec t executives and take advantage of your trust of the senior executives you know, ibm has seen that 45% of phishing attempts involve business email compromise. so obviously, this is a very lucrative business for these criminals. >> you mentioned a small and medium sized businesses. are they more likely to be vulnerable to something like this >> without having a lot more of their internal automated, small and medium sized businesses.

individuals. i've also talked about how people who are closing on a home can be susceptible to this kind of fraud you get an email from somebody who looks like your attorney having you wire a down payment >> they said to me, and that process so important, if they need any information, would have immediately sent it. >> and that's how these hackers work so they use that sense of urgency against you. this is something called social engineering where if you get an email from your ceo, you as judith said, want to respond affirmatively. there's a solution to this which is you can talk to your bank, if you're a small business, you can talk to your employees and let them know if somebody comes out of the blue and asks for whether it's direct deposit or a wire, to call that person and to verify and that can save you a lot. >> i'm sure report it to the authorities and everything else but gives us a sense of what to

look for really interesting stuff, unfortunately, kate fazzini. thank you. that does it for "the exchange." join tyler and melissa for "power lunch" which begins right now. see you in a few, kelly. tyler mathisen new at 2:00. disney ready to unveil the grand plan to take on netflix. what's at stake. marijuana in america the battle over vaping and e-cigarettes former fda chief scott gottlieb will join us live and esg, three little letters getting a lot of attention on wall street why you need to know about this and how it's going to impact your portfolio "power lunch" starts right now >> welcome to "power lunch." i'm tyler mathisen i hope you have a good day stocks though, not under pressure this hour, despite renewed optimism over those trade talks with china headlines from europe about negative interest rates fueling the declines, as you see, but the declines are v