equity. >> so generally motors is up there. i like that. but i like cleveland ticks clf great earnings today. >> daniel jones super bowl mvp 2020. >> that does it for us on "the halftime report. i'll see you on "power lunch." "the exchange" begins now. thank you. we'll see you soon hi, everybody. here is what is ahead today. a huge first quarter gdp and low inflation. we'll go inside the numbers with kevin, chair of the counsel of economic advisors. as wall street is minting millions on the flood of ipos main street is in the throes of a retirement crisis. we'll talk to jay clayton on the smart ways investors can save for the future amazon has big shipping news and it is tanking shares of walmart and target today we'll have more on that coming up in rapid fire we begin, as always, with

today's market this friday is about stability in the markets we're not that far away from record levels but a mixed session, as you can see here, the dow industrials we're going to call them flat. they're up 10 points on a basis of 26,000 plus yes, green but not that much the s&p 500 up by about three points the nasdaq down by abo we'll get into the bigger theme with semiconducts and technical overall. we know many of the stocks have been trading well above their averages take a look at the particular eti. tech software igb up fractionally we're talking about record high levels this today interactive media technology go into this portfolio. semiconductors taking a hit tale echoing concerns there could be

later cycle second half of the year weakness for many of these companies. intel off by 10% a dow component. it's not as important in boeing but sentiment wise talking about a sharp move lower here. that's a big story traders will be grappling with over the next few weeks. over to you. >> thank you welcome to the "the exchange first quarter gdp came in above expectations at 3.2% if that holds, it will be the best start to a year since 2015. meanwhile, oil is sinking today. it's down more than 3% after the president said he told opec to take action to temper fuel costs a rough week for china the shanghai stock index has fallen more than 5% for the week speaking of which, we'll drill down how china is affecting corporate earnings intel is one we go to bob pisani. >> we're nearing the half way mark on earnings the big issue for the multinational corporations is

has china bottomed or not? unfortunately the data is not consistent and it's causing confusion. for example, chip companies, which are very dependent on china sales seem to say no it's not bottoming intel, for example, said customers are more cautious and there's been a deceleration in china. texas instruments earlier in the week said weakness in chip sales may continue and lam research said the spending correction in memory chips will extend through the calendar year. however, auto companies are more positive on china. for example, ford today said that chinese economy seems to be stabilizing and the luxury goods manufacturer said sales were actually accelerated in china. the bottom line here, kelly, despite massive stimulus over there, it's still not exactly clear whether the chinese economy is accelerating or decelerating. >> i think that's the best way

to put it, bob the economy in the u.s. powering ahead in the first quarter. growing at the 3.2% rate it was better than expected despite concerns about global weakness and trade war, a partial government shutdown. joining me now is chairman of the counsel of economic advisors welcome, sir it's good to see you. >> great to be here. >> we can go through this line by line and maybe if you'll indulge me, we will. >> yeah. >> the headline number, if you look at the last four or five quart quarters, we're at a higher run rate. is it sustainable? >> absolutely. our forecast for the year -- wait for it, was 3.2% for the year the first quarter was 3.2% given the news of the first quarter, you can revise your forecast i have a hard time thinking of why except maybe revise it up. the number was three times slower because of the government shutdown and you covered a lot over the years, the first quarter tends to be low because

the winter weather isn't accounted for in the statistics. i think you add it together it's block buster news. >> yeah. and so let's go through the market reaction was interesting. they shrugged it off you saw treasury bond rate -- yields falling a little bit on the back of this the reason why is the boost from exports, the boost from inventories. morgan stanley is saying because they were temporary gains in the first kwauquarter, the second quarter gdp will be 1.1% do you have a better explanation? >> that's what everybody was saying about the first quarter, if do ygo back to the beginning the inventory story is correct this they're pros. when you get growth from inventories, it should give you pause about the next quarter because inventories tend to go up-and-down. the fact is that incomes are growing at a high rate and consumption has not been so our expectations is that the shells are being filled but they're going to be emptied out

and production won't go down you can see it in the latest retail sales number. i think the consumers are having their consumption catch up with income that will be like the story for the next couple quarters >> last year it was block buster a lot of incentives in the tax bill it slowed lately a they're saying this is investment is slowing despite the incentives, trade policy is weighing on investment and resolution of a deal with china would be better sooner rather than later what can you tell the business community? >> right the fact is that in our model that gives us the 3.2% growth this year. investment doesn't grow as fast as last year we got a jump to a much higher level. that's really good news. if you can sustain that level, then you can sustain higher growth for awhile. it's like if your income went from $50,000 to $100,000, then you grew from $100,000 to 105

then the five wouldn't be bad news we had a big boom in investment last year and if had gone back done it would have been inconsistent with the models going up a little slower from here it's what we expect. what happens is that people, you know, build new factories last year this year turning them on and beginning to produce output. in the first quarter, i think the new output went into inventories. i expect it will be sold >> they take it into account the question is tell us what is going on with the china talks. give us in the business community some insight because we're now in late april, if i have the right month. but we were supposed to have, you know, this deal by now we don't even have details on whether -- when the summit might be coming between the president and china's leader it sounds like there's progress but then we've heard -- i can understand why the business community is going we have to wait to see what is going on here what can you tell us >> i give grief every tuesday on

"the progress. there's ample progress there are discussions about the next round of talks ongoing. nothing to announce yet. i can say the idea of uncertainty is pushing down capital spending in the u.s. i think it's probably the other way. people are worried we'll keep our tariffs on china then their new activity they would be more likely to locate in the u.s. than in china right now. i don't think uncertainty on that is a negative it doesn't mean we want to deal with me do and you might have noticed over the last few months i've been using a wedding analogy. for the last weeks you don't want the groom to see the bride. now i think we're at the point you don't want dustin hoffmann to show up at the wedding. i think it's getting close there's a lot of things to work out. >> we'll take you at your word it's been frustrating to follow this it's a big deal. these are delicate talks and hopefully all will turn out well this then brings into the summer period, kevin. that starts to point into the fall where the debt ceiling looms with so many other issues

and starting to get more focus today. the "washington post" is writing about it saying the white house is trying to avoid having all of these things come to a head and hurt the economy what is the plan for dealing with the debt ceiling? >> well, i think in the president's budget, you know, we actually are trying to get ahead of the curve on spend and that's the position we're going to take into the fall. i think our bingt budget is a good guideline the fact is, we came in, there are a lot of problems that had to be fixed like, you know, a defense that was sort of under tooled that you saw like airplanes getting hit by hurricanes because they didn't have enough parts. so we had to spend more money on defense. we had to fix the tax system now i think getting ahead of the curve is the high priority for us that's why the president is calling for a% across the board spending cuts for cabinet agencies i think that, you know, you're right to look ahead to that and say it's probably something that is going to be a focus of a lot of debate in the fall. and probably at times

uncertainty. >> who do we have to look for for comprise on this nancy pelosi it's 5% spending cuts might sound good to the president but not the congress. >> i'm not an negotiator if we can get ahead of the curve on spending and reduce the deficit then given where we are in the strong economy, it's a good time and it would be good for the long run. >> i want to go back to the gdp number and ask if there's a way you guys have quantified the impact of deregulation, for example, on the economy. so we know a lot of things going on behind the scenes everything from pipeline permitting processes to other things happening certainly that aren't in headlines every day could be contributing to the better growth rate we've seen lately. do you have a way to quantify that >> you know, it's funny you ask that as a teaser, it's one of the things we've been working on as a paper that will document and quantify the games coming soon to a white house near you i can't give the numbers yet

the deregulation effects are large. we're going document it. >> we look forward now you have to give me the exclusive. >> there you go. >> kevin, thank you very much. it's good to see you kevin hassett. stick around, here is what is ahead on "the exchange. coming up, the big are getting bigger even as the space gets more crowded. a look at who is winning the streaming race in the eyes of the consumers. plus, the chairman of the fcc on what they're doing to protect and help investors when it comes to these hot new ipos and amazon ups the ante again. this time with one-day shipping. what do advisors look for in an etf?

i tell clients, etfs can follow an index, but which ones target your goals? it's not about quantity. it's about quality. no trendy stuff. i want etfs backed by research. is it built for the long-term? my reputation depends on it. flexshares etfs are designed and managed around investor objectives. so you can advise with confidence. before investing, consider the fund's investment objectives, risks, charges and expenses. go to flexshares.com for a prospectus containing this information. read it carefully. through the at&t network, edge-to-edge intelligence gives you the power to see every corner of your growing business. from managing inventory... to detecting and preventing threats... to scaling up your production. giving you a nice big edge over your competition. that's the power of edge-to-edge intelligence.

the latest inisn't just a store.ty it's a save more with a new kind of wireless network store. it's a look what your wifi can do now store. a get your questions answered by awesome experts store. it's a now there's one store that connects your life like never before store. the xfinity store is here. and it's simple, easy, awesome. welcome back to "the exchange." comcast is in talks to sell the 30% stake in hulu to disney. it would leave disney with full ownership of the streaming service as its own disney plus launch is coming later this year we bring in the managing director and head of u.s. media research for morgan stanley. good to see you.

welcome. >> hey, kelly. >> we're doing well. comcast you raced your price target this morning. it's interesting i guess what they're doing here, and you tell me what you think is saying we don't care which streaming service the consumer wants to use. we're going it provide you internet for all of them and benefit from that raising all of those. is that right? >> yeah. i think if you look at comcast, earnings at the end the day, this is primarily a cable business and that cable business is increasinglied by broadband. the more we stream, the more you need internet access, the better for comcast broadband. the market is starting to pick up on that. >> you have hulu one of the biggest streaming partners it's losing money. it's losing a billion or so dollars a year for the foreseeable future how important strategically is it for disney to have full ownership of that asset? >> look i think it would be

better and helpful for them if they owned it outright as they try to steer that asset into the future we think hulu is an appreciating asset. owning more is probably a po positive the biggest question for disney around hulu is the international opportunity. the extent they can own the whole thing. it clears the path for them to take it outside the united states i should say what it looks like remains to be seen the rights hulu has to content in the united states, they don't have it outside the u.s. most of the content is already spoken for at least in the short term hulu outside the u.s. will look different than it does here. you did your ninth annual streaming survey it shows some trends that the big are getting bigger we often see any new industry consolidating into four big players. in this case, those early winners appear to be netflix,

youtube, hulu, and prime video what will apple do to compete? what about disney? do you agree we're heading toward that consolidation or that number of winners >> yeah, i mean, we think over the long-term it will be a relatively short list of global scale platforms that can generate successful amount of profits. we certainly think that disney has a good chance. look at the survey results and we have the survey in the field before with the disney plus details were announced we were asking people about a hypothetical product at 8:00 price point, which is higher than they'll launch with we were encouraged we saw about 40% of the survey expressed some level of interest at disney plus and households with kids, families, that was up to 60% so you lay it against a 100 million broadband household u.s. market and think about the global opportunity, you can see whe why everyone is excited.

>> if we end up having proliferation of niche players like disney, maybe bigger than niche. hbo now you mentioned their usage is down year on year obviously they're still there. they're in the field who is going to navigate all this content for us? we're effectively talking about new channels you access in a different kind of way. >> yeah. i think for the consumer, this overwhelming feeling of content probably continues for awhile. as we try to figure out how to cure rate and help people discover that programming. one of the things i found interesting in our survey we asked people how do you figure out what to batch -- watch. the number one chosen answer is word of mouth. think about the billions of dollars they're spending market and promoting their content, it's not saying it isn't a having an impact the end of the day, i think we're feeling overwhelmed by the amount of programming and the for the companies or companies that figure out cure ration and

drive discovery. there's clearly an opportunity to create value in the ecosystem there. >> ben, good to get your thoughts good to see you. thank you. >> thank you uber is kicking off the ipo road show today and setting a price range from $44 to $50. leslie picker is live in manhattan with the latest. so much for the hundred billion dollar headlines at least for now >> reporter: for now it could still potentially get there. at least on the first day of trading. time will tell right now looking at a high end of that range at about 90.5 billion on a fully diluted basis. i should tell you, we're standing here in bank of america upstairs the uber executives and the sales force are wrapping up a lunch. now media was not allowed in the lunch, but able to get our hand on some of the swag that was served in the room at that meeting, it's where they teach the sales force the executives teach the sales force how to market the deal to

investors. they have a lot to sell. about $10 billion worth. as you mentioned, they set a price range this morning between $44 and $50 a share. that's quite wider than what we've seen a typical ipo it's common among larger deals because it's imperative they find the right price it allows them to assess investor demand at each of the various price points and gives them more wiggle room if the demand is less than expected or greater than expected to price their shares accordingly. >> i think they're so lucky that lyft went first. what better environment to walk into neighbor they'll leave a billion or so on the table they'll be able to get a more conservative price, probably a better performance and better headline. >> you bring up a good point it depends on how you define lucky. if you're going public as a capital raise, you may want to price it at a higher vailgs and

not be too concerned about how your stock trades in the weeks and months after that. but if you are going public to get that very positive day one experience and that you believe that positive day one experience to filter through to your stock price, then certainly going second seems to be the best play here. >> all right i'm looking at that traffic behind you on 42nd street and i'm glad i'm in the suburbs. it's brutal. >> i'm glad i'm inside. >> good to see you thank you so much. coming up, amazon is throwing down the gauntlet once again. free one-day shipping for prime members. walmart and target are sinking then one company said no more messaging between certain hours and not at all on weekends does encouraging workers not to work help productivity that's ahead

welcome back to "the exchange." here are some of the movers this hour auto nation is soaring more than 9% and on pace for the best day since november of 2017 that company on higher earnings per vehicle. fedex is falling nearly 3% after a downgrade to sell from neutral at ubs expecting to slow the international economy to result

in several quarters of limited growth and blooming brands is jumping 8% after reporting better than expected earnings and strong u.s. comps. outback steakhouse and bone fish grill were standouts australia's prime minister said the suicide bombers who attacked churches and hotels in sri lanka were helped by isis. scott morrisson said those who fought in iraq and syria and returned home pose a major threat around the world. >> what this demonstrates is the new front we're seeing in combatting terrorism around the world. and that is returning foreign fighters going back to wherever they come from, whether they're fighting in syria or elsewhere. going back with skills and training and capability to be able to deploy these types of attacks. >> the driver of the semitruck has been arrested and charged with causing a fatal multicar crash on a colorado interstate that left four people dead

police say the driver has been charged with vehicular homicide. they don't believe drugs or alcohol were involved. in clemson football coach d dabo sweeny signed a 10-year $93 million contract clemson won two of the last three college football championships. that's the cnbc news update at this hour. over to you. >> $93 million. >> more highly paid than nick saban. >> and jim harbaugh of michigan. >> what are we talking about >> you can't play the players. >> yeah. by the way, didn't the giants pick a clemson guy last night? >> i believe they did. a defensive player. >> yeah. >> melissa, i love how we're passing the baton back and forth. >> i know. come on over. >> yeah. tyler is here to tell us what we'll have on tap. >> we had fun with the stock draft yesterday before the nfl

draft kicked off today we're going to pick apart some of the portfolios michael far will be along to el us his surprising, i think, people will find it, surprising choice for the one he thinks was best we'll look at the stocks left on the board. >> many were. >> yeah. and many were including maybe surprises. >> yeah. apple and the others. >> google was one left on the board. >> and here. we're all here the gang is here. >> i was right over there. i felt left out. >> which portfolio do you think will win the stock draft >> i like maria. >> united health. >> right. >> yeah. united health. here is what is ahead on "the exchange." coming up slack said they're

ready to ipo but have a big warning for investors. when two-day shipping isn't good enough. the barbie boost and pepsi's proprietary potato it's ahead

welcome back let's catch you up on a few stories on your radar today. it's time for rapid fire here to break it down th headlines are dominique chu, kate rogers, and robert grey first up, workplace messagin company slack is filing its plans for a direct listing ipo today. they included this interesting wording for investor that caught our attention. the security incident could potentially harm future results and failure to comply with privacy and data protections could result in big penalties. there what i love about the story is the founder story so it's stewart butterfield who didn't grow up in connecticut but in a log cabin with no running water in british colombia in a small fishing village and started a few companies that some are successful and one of which is not. now is going to be a billionaire after this. >> good for him! >> he was a philosophy major

go philosophy majors >> right. >> the thing about this story i find unbelievably fascinating is the idea you have a messaging app. these are communications platforms. we know the risks are there for everything else. but when you find you a company like this or develop it, do you think it's going to become the next big thing or are you waiting for it to get taken out like what's app did. like, you know, at one point we were using aol instant messenger. >> right some megacap technology company comes along x months or years from now and said let's use this. >> sales force. >> yeah. there's so many. >> yeah. so many companies would love this in. >> yeah. it's rumored that it stands for searchable log of all communication and knowledge. i wonder if they're what they're alluding to in the s 1 if employees feel comfortable or there's a breach, all of this communication is out there there's a back for the company. >> that struck me as standard, though. >> yeah. it seems direct, though.

i think it was an attention-grabbing for that reason you say do i use it? we use it internally. >> yeah. >> i i'm on it. >> do we have space for more messaging apps at this point >> i prefer e-mail. >> yeah. i use three or four actively every day just for work. >> that's a lot. >> it's a lot. >> plus you're on twitter every three seconds. >> i know. >> you're all over the map. >> there's more than one of you, isn't there? >> there is. >> that's how he gets it done. >> i know. >> he's a simulation he's not real. >> exactly we have big news from amazon next they posted block buster earnings which the stock is giving them no credit for. they're going amp up their efforts to offer one-day delivery to prime customers. check out the reaction of shares and walmart and target down more than 5%. >> thing is just amazon basically saying this is how it's going to be now right. so everyone else is going to be forced to keep up, which is why i think you're seeing the stock reaction from target and walmart. i thought it was interesting, too, that target pointed out guests have numerous ways to

shop same day including you can pick up at target stores you have to wonder if these retailers will focus on in-store experiences because, obviously, that's something amazon doesn't necessarily have. >> i think this is the right move for amazon at the right time two-day shipping with the innovations everyone is making starting to feel stale. >> it's a first mover advantage story. and amazon, for better or worst, dending on which side of the business they're had the position for some time now they have set the agenda they have set the narrative. they have basically laid out what businesses need to do to react. so they're the ones viewed as being proactive in this whole discussion. >> as salutely. >> as opposed to everybody who has to be reactive to what amazon does. >> they turn it on like it's no big deals. behind the scenes investment and warehouse and investigation. i got this by accident i ordered a few things and all of them said they'll be here tomorrow. >> i feel like i'm getting things before i order them it's so fast it's scary it's scary they're not competing against

other companies anymore. they're competing against how much each of can buy it's just they are so good at the customer experience. no one comes close. >> yeah. now you can return it in kohls they have to do something about the card board boxes mattell shares are higher but off session highs. they had demand for barbie dolls. a sixth straight quarter of growth for barbie. >> i love the new career they thought "frozen" which has bro has the doll rights for was going to do amazing. frozen is so 2013. >> yeah. >> i have two daughters. but, also, they have a lot of new careers for barbie there's a bee keeper barbie! >> is that a career? >> sure. >> i think it might be a few people. >> right there's astronaut barbie a tractor barbie there's a muslim fencing barbie. >> there you go. >> we know there's one out

there. >> right she's amazing. so some of this more diversification of barbie helps. >> the flip side jumps out the fisher price rock and play. >> yes i used one and i never had an issue with it. >> so did we. >> you didn't use one. >> no. my daughter did. >> okay. >> i don't fit into one. we used one for my daughter. we never had an issue with it but i'm looking tat now saying was there supposed to be. >> she slept in it for months. >> yeah. it was the only thing worked. >> you hear it so often. it's true he could have turned around and been right. and i understand the risk but -- so anyway, kate, they're facing $30 million potentially as a hit because of the recall for those. >> certainly but i have heard just what i'm saying from what both of you said so many new parents saying it's an amazing way to put your kid to sleep. >> we had a momma roo that costs more than a rock and play and we thought it was going to be awesome. it wasn't. it didn't work we put her in a simple one of

those rock and plays and it somehow just was the magical sleep aid. >> i know. and now i don't know. >> yeah. >> do you return it? do you say we shouldn't have used it? there's a little bit of reputational issue for them, as well yeah, that came up on the call a bun bunch, as well sweet green. the salad chains this is going to strap the z-- scrap the cashless policy. they have to take cash amazon ghost said earlier this month it would begin taking cash i'm thinking about some of the sports stadiums. i think the cardinals new stadium, the rays were going cashless some had reverse vending machines you can bring cash because the whole idea to optimize the experience. >> they issue a card based upon the cash you put in a machine. >> i think one of the trends we thought was coming was you would be able to document cash flows better that's where the government's purpose and anti-money

laundering and everything else you forget in those situations, there are people under served in the banking community and you don't want to exclude those people but the fine line will be whether these businesses and the government overall are going to want to hinder the development of cashless systems. >> i wonder can the reverse atm solve a lot of issues. >> are those people not banking buying $14 quinoa bowls? >> i think it's right what they are doing. they need to include everybody but i also think that, you know, it's pretty rare that, you know, people aren't paying with cards in these places. >> shake shack got a push back it's under $20. >> it's a safety thing, too. they don't want cash lying around. >> right we have to hit poe ptato pepsico is suing a farming group in india for growing a potato they own the exclusive rights

to pepsi seeks to amicably settle with the farmers i've never looked at my lays so admirably and say it's an exclusive indian potato? >> that's the comment we got forcefully from pes si coe on the statement. there's no loss to play now we're agreeing to try to settle it but i would say this, i spoke to a person familiar with the operations at pepsico with regard to the potatoes and they said the reason why they're doing this is because it is a key product in their supply chain. >> that's awesome. >> and it is their intellectual property. >> sure. >> right. >> >> i never heard of exclusive rights to growing a potato i think they wanted them to pay $143,000 each. not a great look from pepsico to be suing -- >> right. >> farmers. >> but come on they have to protect their ip. if it includes a certain potato. you got to protect it. no one else can get their hands on the lays. i love it. >> you can't eat just one.

right. thank you all. coming up, fcc commissioner jay clayton thinks we have a retirement crisis in our hands and has vi fadceor investors he'll join us next

welcome back april is national financial literacy month and fcc chair jay clayton has been making a push to better educate the public about investing and what investors need to do to save for retirement he joins us now as cnbc's financial initiative he's with bob down at the new york stock exchange. bob pisani >> thank you so much for joining us we know there's a retirement crisis out there you've taken a particular interest in this perhaps unusual, unlike your predecessors, weren't that involved in this what is the motivation here? you have an interesting website

up tips from the chairman i recommend it to everyone why do you feel the need to speak out on retirement and what is going on with savings >> thank you for having me it's an extremely important issue. people are living much longer and they have more responsibility to take care of their own retirement than in the past so we've got the two factors driving the need to get your own retirement house in order. but what drove this? look, we've been traveling the country talking to people about standards of conduct for broker dealers and investmented a visors and how to change them. every investor telling me two things i wish i started earlier and i wish i knew more earlier so we're doing what we can to help people start earlier and learn more earlier. >> yep tips for investing very interesting you keep it simple you talk about the wonders of compounding. the wonders of the diversification, the wonders of taking the free money 401(k) money. a lot of people don't, surpri

surprisingly wh should the government be doing more to make it easier for people to save we have a retirement problem we know that what can the government do >> let me use the word drag. when i tell people about retirement investing and vesting, i say reduce the drag the cost, the fees, the taxes. that's money you never get back. the government can do and we're trying to do is make sure that draft is as low as possible. you want as much as your money going to work for you. get rid of the costs and the frictions. and, you know, as a government, that's something we should be looking to go. get rid as many frictions as we can. >> shouldn't we be making it easier for people to get into 401(k)s small businesses or something like that? >> i try stay in my lane, but for the extent we do the extent we do those things and congress is able to do that, you know, i love it. >> one of the big things that

the secc is in charge of a capital formation. ipos you have been outspoke about the need to make it public uber announcing terms today. we have 200 companies going public this year how do you feel about that is this a good sign to you bad sign market top what do you think? >> as a general long-term matter, i feel much better than people are starting to access our capital markets. i wish the companies were looking to access our public capital markets earlier in their life cycle i like it when growth companies are in our markets so our retail investors have an opportunity to participate in the growth not just the large and in many cases, liquidity transaction. >> you said before we need to make it easier do you want to change the recording terms for smaller companies? what do we do? this has been a big year but before that, it's been pretty sparse for the last 15 years. >> we're looking at whether our one size fits all model for

becoming a public a company makes sense in an area where you have trillion dollar companies and $100 million companies it can't be that one size fits all. >> yeah. let me ask you about one other subject and that's tesla and elon musk. you had a request for a second delay with the court maybe on or before april 3rd you'll have an agreement can you give us any information at all or any closer to an agreement to settle on that dispute regarding musk's use of twitter? >> the short answer is no. >> you're not any closer >> no. i can't give you any information. >> can't give me any information. okay the important thing, though, right now is april 30th is still looking like it's going to happen >> i'll let the parties work it out. >> okay. jay has a lot of issues and questions concerning retirement and, kelly, the important thing is, sec.gov. >> yeah.

we appreciate him coming back even though we'll keep asking about elon musk. thank you. we have cnbc market flash. dom, what is going on? >> we're watching shares of tesla. we're keeping a close eye on market caps of two industry heavy weights. tesla the other one and ford on the other side following strong earnings from ford the automaker has now surpassed tesla in terms of market value for the first time since late may of last year. the charts you're looking at there is ford in orange versus tesla in blue. because of that, at the close, on may 24th in 2018, that was the last time, ford's market cap topped tesla's $42.2 billion back over to you. >> yeah. like you said, ford having the best day in a decade

fox con promised two years ago to build a manufacturing plan in wisconsin that would create 13,000 jobs that deal could be changing. we'll get the latest live at the plant's site the latest innovation from xfinity

isn't just a store. it's a save more with a new kind of wireless network store. it's a look what your wifi can do now store. a get your questions answered by awesome experts store. it's a now there's one store that connects your life like never before store. the xfinity store is here. and it's simple, easy, awesome.

foxconn promised to build a $10 million manufacturing plant in wii back in 2017 but after communications between the company and state officials, that deal looks like it will be renegotiated scott cohn is out in mt. pleasant, wisconsin. how many jobs do you think we're talking about now? >> reporter: they still say 13,000, but it's a question of when and of course, if they will be created as you can see, there is construction going on here that's 120,000 square foot multipurpose building they've built but they were supposed to also have begun work on a state-of-the-art manufacturing plant by now they haven't even broken ground on that and already said that it is not going to be now the plant they originally envisioned foxconn thus far hired about a thousand people. that's well short of the goals as we've said, 13,000 projected within 15 years and we're in year two and just the other day,

the head of u.s. strategic initiatives sent out this tweet in response to all of the concerns who has the crystal ball to predict if 13,000 jobs will be created by the year 2032 that's not at all what the people of wisconsin want to hear and why this contract with $4.5 billion in state subsidies is now being renegotiated >> clearly, the deal that was struck is no longer in play and so he'll be working with individuals of foxconn and to see how a new set of parameters should be negotiated >> reporter: the wedc is the wisconsin economic development corporation which is really the counter party in this deal and confirmed talks are ongoing as foxconn's plans and the authority's words, evolves. >> we'll see

thank you, scott cohn. up next, a look at how constant emailing and messaging for works affects lives and relationships and why one ceo has a no late night or weekend email policy "the exchange" will be right back

workers clocking out don't really leave the office these days thanks to all the after hours work messages. researchers have found these emails takes a toll on mental health, relationships and behavior here to take a closer look, an associate professor who's been researching the effects of work emails and jeff of south carolina consulting company vynamic where there's a policy to curb after hours messaging. to you both, jeff, what specifically does your company do to fight this and why try to fight it >> we implemented a policy called z mail, a nod to zzz mail to promote better health and balance and the policy states that employees are to refrain from sending other employees emails between the hours of 10:00 p.m. and 6:00 a.m. mondays through fridays, all day saturday and sunday and holidays if something is really urgent to get a hold of somebody, call or

text preferred over email. >> people are using g mail >> they are not. we filed a policy. >> what did this spring from >> when our company was founded in 2002, upon the principles of a better way and creating a sustainable model for management consulting so we've done a lot of stuff with healthy culture, z mail being one of those things to make working in traditionally an industry with a lot of burnout to be a sustainable model. >> lou, when i was working, a reporter, you know, ten years ago, i was thrilled to have a blackberry because it meant i could physically leave the office and do work a lot of people realize, it means you're on 24/7 what kind of toll is this taking >> well, because of technology, we really have flexible boundaries right now the problem is that a lot of times, companies say you have to be on notice 9:00 to 5:00 and then a couple of hours after hours. this flexible boundaries is turning into work without boundaries and what we're

suggesting is that our research has suggested that there are really negative outcomes on mental health, nxiety, turnove intentions, work family conflict and what you find. a recent stream of research said thousands of significant others also suffering because of anxiety that their closed ones are checking the phone when they have quality time, still not really mentally with their significant others it's taking, really, a huge toll on mental health and physical health >> jeff, people will say that one of the advantages these days of the workplace is that it's not the rigid 9:00 to 5:00 that it used to be. is there anything to be said for this idea of, okay, you're available 24/7 but maybe you don't have to be in the office all that much or maybe you're on the road, you're doing work a different way? why is it that we seem to have taken a lot of the negatives from this framework instead of being able to say, hey, the positives are, i don't have to physically be there per se

>> that's right. we're huge advocates of flexibility. people should be able to work where they want and it should be about results. the policy we've put in place, it may seem counterintuitive but it's putting in place structured disengagement that creates more employee engagement in the long run, because people are going to get burned out if they're in this always on world we're in now, if you don't create some sort of structured december engagement, employees burn out. >> since you're in consulting, how does this approach work when you talk to other companies about it >> this isn't a work curfew. we empower team members to work where they want to work. if they're in a groove on saturday and want to crank out work, that's fine but don't go through your to do list and fire off ten emails and gets into a back and forth on a weekend which wasn't the intention >> all right well, i have to think through, before i hit send this weekend >> that's right. >> to give my team a break thank you both great stuff. with the research, of course, jeff dill with firsthand

experience appreciate it and that does it for our future of work series this week. hope you've enjoiped it all on our web site, to look back at anything don't send emails this weekend and stick around for "power lunch" which stiarts right now. >> i'm melissa lee with tyler mathisen the american economy firing on all cylinders. fears about a slowdown overdone. target and walmart getting slammed. amazon raising the stakes in the battle over one day shipping what it all means for all three of them. bobby's bulls, mr. wonderful, oz knows, which team with the best portfolio in the stock draft and which stocks left on the board worth buying "power lunch" starts right now >> ndeed it does welcome to "power lunch. i'm tyler mathisen stocks at this hour are steady they are well off their lows the latest read on the economy offsetting fears about earning