resemblance? >> good stuff. >> under armour, a new management team doing a great job. >> stocks trading no later than the 17th, and the gm price play. >> steve liesman, thanks for being with us. >> have a great weekend, earn and "the exchange" starts now. thank you, scott hi, everybody. here is what's ahead today overreaction are markets makingtoo much of today's disappointing jobs report are rate cuts this summer really on the table now we will debate and the clock is ticking. negotiators are racing against time to cut a deal before the president's tariffs on mexico go into effect on monday. we'll tell you why the auto unions are a key group to watch there. plus breaking up could be bullish for big tech broken miller saying the companies could be worth more on a breakup all except one of them and which one? that's coming up

dom chu is here and this could be the best week of the year. >> it could be the best week of the year and it could be the best week of the year for key sectors, kelly, because as you can see, there are strong gains in the green across the board and the dow up just around session highs and a little bit below their 320 points up over a percent. and the s&p up a third of a percent and the nasdaq up by almost 2% as well and a standout there, and tech and com services key sectors to watch because technology, one of the best-performing sectors so far this week. also, materials. materials right now on pace for its best week in about ten years. technology the best week its had since november last year and communication service e the laggard only up about a percent and if you're looking at the macro picture and interest rates are a key focus and we got a hair up 2.7% and still the

lowest yields that we've seen since september 2017 remember, key levels to watch here that psychologically significant 2% level we're keeping it there, kelly. back over to you >> dom, thank you so much. welcome back to "the exchange. i'm kelly evans. payrolls came in at just 75,000 and that was well below expectations of 180,000. the unemployment rate did hold steady at 3.6% and that's a 50-year low and overseas encouraging comments from chinese president xi today saying neither china more the u.s. are interested in disrupting ties. let's look at more on the markets and how that affected the market with bob pisani at the new york stock exchange. bob? >> it helped a little bit. we are four days straight up and more than president xi's comments and the one fact is that job growth is definitely slowing, but that's it the rest of this rally is a lot of hopium that the fed will cut

hope, hopes for the outline of a deal with mexico and tariffs and also immigration and finally, hopes of a deal with china treasury secretary steve mnuchin might have something positive to say maybe after his meeting with his chinese counter parts that will be at the g-20 meeting this weekend and all of those beaten-up trade sectors have rallied big this week and not surprisingly, autoparts, semiconductors and mining stocks and transportation if we don't get a resolution on trade ceos will start cutting earnings estimates for the second half of the year. look at these numbers and these estimates have been stable for the last month or so and they're going to come down big time for the third and fourth quarter if we don't get a resolution on trade. kelly, those numbers are positive now and they're going to go negative in the next month or two back to you. >> thank you very much bob pisani stanley drunken miller was on

"squawk box" this morning and this was his take on the jobs report. >> i don't use job numbers to predict the economy. it's unbelievable the obsession with the lagging indicator i use them for entry and exit points to fade, but i think if the job number is weak given everything else the fed will be on a clear easing path by july. >> do my next guests feel the same way rebecca paterson, mcculley is the former chief economist at pimco, and the chief economics commentator at "the wall street journal," barclays is cutting for a half-point cut in july and that echoes what drunken miller does >> i think you're trying to weigh two different elements and how much is trade related that was causing a problem even if trade wasn't an issue. it's troubling that there's weakness outside of manufacturing and construction very anemic and it's disturbing

that despite the big drop in market rates since the fed pivoted, you haven't seen that much pickup in housing and even if there is a clarification of the trade war clouds at the end of this month, july does increasingly look like a good time for them to reverse the cycle. >> rebecca, is that your view? >> it's interesting that we can have a lot of the other data holding weal and the non-manufacturing survey holding up decently. do you see the slowdown or the urgent rate cuts >> it is given what greg just said, the unemployment rate is slow and that's the biggest chunk of the economy it's difficult for me to see with the high probability with the fed wanting to cut as quickly as july, when they have more clarity on what's happening with the economy and the fed's preferred inflation measure is down below target at around

1.6%, but most inflation measures are at near or at target and some are above. it's difficult for me to see the fed feeling strongly about the rate cut quickly until we see data points. we know the payroll numbers can be incredibly volatile month to month. >> exactly that's why i'm surprised that this fed would even open the door toward a rate cut, if i'm reading this correctly, you also think is possible or likely come july don't we need a few more months of data to figure out what's going on >> i don't think we do for a simple reason. for the last decade the fed has missed its inflation target on the down side. for ten years we've been waiting to get to north of 2% for inflation and they haven't done it not withstanding the incredibly low unemployment rate and the fed will be easing and the only issue is how they configured the rhetoric and the timing and so forth, but july looks good for me.

>> it's frustrating to me and greg, i'm curious what you think about this is that the fed continues to think about rate hikes and the speed-ups and slowdowns. that aside, we're focused on inflation and to paul's point it's been low and it's been missing. why do we need it to be one side of the boat or the other in terms of the expansion >> it's a great question and they are looking at both things together and indeed one of the reasons that they did not feel like they were missing on inflation for the last few months and the economy was growing at 2.5% to 3% and it tells them that the economy is running out of spare room. what's changing now is you still have the inflation below target and it's there as a reason to cut. you probably no long kerr say the economy is growing above trend. it's at best, growing at trend and we might see data points to suggest it's growing below trend, which i mean below 2% they've kind of lost that other

reason to stay their hand. >> for how long, greg? we've been through this before in 2016, the economy slowed and it was below 100k and that's because they didn't hike rates that year and maybe it's a reaction function to what the fed's doing. in other words, so we go through a slowdown and that doesn't mean the expansion is over and do they need to do more just to keep it going? >> their job is to basically keep the expansion going and they can take a view on whether any particular rate is the right rate it looks for them what inflation and growth is and they need to adjust this stance. >> is the ten-year yield going below 2% if the rate cuts were coming >> i don't think it can live below 2% it can go below 2% and we also have, you know, the trade issue which will increase volatility and therefore make longer dated treasurys and natural sort of

hedge, but i think clearly where the market is where the fed is is too tight, the inverted yield curve and that's an important factor in their equation, as well is that inflation's low target and the economy is slowing particularly on the job side of things and you have the market already priced for a reversal in fed policy and i think they will effectively endorse that proposition >> we can't live below 2% and we can go there on the ten-year and investors seem to think the opposite because last week we saw a three-year high in terms of people piling into bonds and picked income. it's not to say those things go hand in hand and spreads continue to narrow and i get that on a slowing economy and what would you guys do with fixed income here. >> we've added to our fixed income exposure this spring and we have a modest underweight to equities and we wanted to get defensive enough that we could

lead enough with what clearly is increasing trade rhetoric and trade-related uncertainty and we didn't want to get so defensive knowing that the fed will keep the global approximately see loose. we wanted to have enough e fitty exposure so we're kind of trying to straddle these things which is not a comfortable place to be. if we're seeing more pockets of strength, if that continues over the next few weeks ouren chin asian is to trim more of the equity risk and we don't think the fed will cut into next year unless the economy gets much worse. >> are you thinking ten years below 2%, then, rebecca? >> it's not our base case that we are below 2% at the end of this year, but again, a lot of this will have to do on what happens on the trade front and what that does for manufacturing

and capex. >> it feels odd to ask and we were up 3% thank you all very, very much. rebecca paterson, paul macaulay. here's what's still ahead on "the exchange". >> coming up, will he or won't he negotiators are racing against the clock before the president implements new tariffs on mexico how likely they are to get it and stan drunkenmiller says two stocks will be winners if the tech giantss a are forced to brk up and the winds are changing and a look at the industry that's expected to be the second fastest growing profession in the nation xtgeons is "the exchan" c ne most of us don't know how much data we use.

but we all know we're paying too much for it. enter xfinity mobile. america's best lte, with the most wifi hotspots combined for the first time. when you're near an xfinity hotspot you're connected to wifi, saving on data. when you're not, you pay for data one gig at a time. use a little, pay a little. use a lot, just switch to unlimited. it's a new kind of network. call, visit or go to xfinitymobile.com.

welcome back talks between the u.s. and mexico are coming down to the wire as the two try to strike a deal by monday when they impose a 5% tariff on imports let's go to the ambassador with the usmca until it was terminated late last year and michelle caruso-cabrera is with me and michelle, what's the news flow right now telling you >> well, there's been progress according to vice president trump, and yet we're being told

that the tariffs will happen on monday so it's impossible to tell at this moment. we have to wait for trump to get back and from here, i can't tell exactly what's going on, but certainly it's not gotten worse. it appears to have gotten better >> peter navarro has been surprisingly dovish and outlining things the mexican side can do in order for the president to say yes what do you think are examples of the action they're looking for? >> for example, mexicans have apparently offered to put 6,000 troops on the border of guatemala and mexico to slow down the flow of central americans coming across the border they are very frustrated in mexico as well about the number of central americans coming and trying to get to the united states so that's one example, but they're also saying they will not do that if the tariffs are put in place, so it's this chicken egg that both sides are playing. >> mr. ambassador, do you think it's a prudent move for mexico to be doing in order to stem the

flow of migrants >> i think that first of all, we should try not to mix immigration with trade they're important. both are important things. >> they've been mixed up now. >> they are, but the mexican government has been very clear in that it's willing to work with the united states to address immigration and i simply don't think that establishing tariffs is the right way to go it will end up hurting the u.s. economy, the mexican economy, and i, quite frankly, i don't think it will get mexico to further work with the united states on addressing immigration. it's just a bad idea. >> we can find out because it looks like they're coming in just a couple of days and so if it's going to be punitive and hurt the mexican economy do you think the leadership will say fine, we will make some changes in order to keep this from happening? >> well, i think mexico has already signaled that it's willing to improve its operational control of the southern border, to increase

resources to the institutions and authorities and i think that will be something important, but again, i think it will be very difficult if those tariffs are established. i think it will pretty much affect the possibility of moving forward with the usmca, something that the u.s. administration has clearly described as a good thing for both countries and for the united states, any yd you know, find it hard to believe that mexico would be wanot be in a position to retaliate. >> michelle, you're saying watch the auto sector in particular. they're caught up in this, aren't they? >> for sure. we have highlighted how much the auto sector is impacted because there are so many parts that go across the border continuously and also the autoworkers i wouldn't be surprised if president trump is thinking about the 2020 election when he

gets hard on mexico. if you see joe biden is the number one candidate thus far in the polling with his democratic opponent he may be thinking, how do i keep those people who voted for me from voting for joe biden and this would be a way to do that >> a win for either candidate means getting the vote of autoworkers, those displaced by nafta, against -- frankly, it sounds even against the u.s. -- >> exactly it sounds like you never get a dale and he doesn't care about the usmca. if you go to the united workers, and there were 1 million cars and now it's 4 million cars. look at their wages. their wages are only $6 per hour and then because the peso has weakened so much the workers there cost even less, like nothing compared to a u.s. worker >> yes since nafta.

mr. ambassador, the president is on the wires right now saying if we're unable to make the deal mexico will begin paying tariffs at the 5% level on monday. he says there is a good chance that a deal will be reached. what's your reaction to this and what michelle is talking about in terms of u.s. autoworkers being a politically sensitive group here that is probably looking for some response from who's going to be elected in 2020 yes. first of all, i think both sides had mentioned -- have mentioned that there's progress and negotiations are ongoing so i think there's still an opportunity to find a solution to these with respect to what michelle says, i think the usmca was appropriately described as a good deal for the north american auto industry in general and there are other sectors that would suffer with this measure mexico buys a lot of products from the midwest of the united states and those people and that

sector will also be affected if we get again into some sort of tit for tat with tariffs. >> 10.5 gdp is almost twice the level of texas which has the largest dollar amount exposure even though it might be in the short-term harm of the auto industry there, they might be looking at the long term that we've been hollowed out for over 25 years >> exactly that would be -- and by the way, even if they get hurt, look at how the farmers have reacted and even though they've been hurt, so far olitically, they haven' abandoned him. >> that's a great point. thank you both michelle caruso-cabrera and geronimo gutierrez, thank you for joining us today. >> thank you very much. america's wind power is experiencing record growth and there are global risks including the trade tensions kate rogers is at shenandoah, pennsylvania, at one of these

wind farms kate >> that's right. the number of jobs reported by the wind energy industry hit an all-time high and we'll tell you why and what tariffs could mean for this industry coming up next after the break on "the exchange." the perfect soundtrack. ♪ to fill your world with fun. ♪ to share my culture with my community. ♪ to make each journey more elegant. ♪ i'm working for all the adventure two wheels can bring. ♪ at adp we're designing a better way to work, so you can achieve what you're working for.

you should be mad they gave this guy a promotion. you should be mad at forced camaraderie. and you should be mad at tech that makes things worse. but you're not mad, because you have e*trade, who's tech makes life easier by automatically adding technical patterns on charts and helping you understand what they mean. don't get mad. get e*trade's simplified technical analysis. welcome back to "the exchange." let's get you caught up to the markets on this busy day the stocks are in full rally mode the s&p and nasdaq up four days in a row

it is up 2.76 at the session highs and we're up 352 shares of online fashion retailer revolve group soaring in their first day of trading today. now they're up more than 70%, believe it or not. meantime, another recent ipo, zoom video is also popping after reporting better than expected earnings and raising its guidance in its first release since going public zoom is up 20% today shares of fedex are volatile after the company announced it made a strategic decision not to renew the fedex express domestic company with amazon. the shares are holding on to a half a percent gain and we'll follow that story. now to sue herera for a cnbc news update. >> hello, kelly. here's what's happening at this hour police in detroit are looking for a possible serial killer targeting women on the east side so far the bodies of three women have been found in vacation apartment homes. today 40 officers will begin a search of all empty productures in that area a minneapolis police officer

has been sensenced to 12 1/2 years in prison for the shooting death of an unarmed woman. he is accused of murdering just teen damon as she approached his squad car. during his commencement address at m.i.t., the billionaire announced he's spending $5 million on an initiative called beyond carbon. today is national doughnut day, which means major chains that sell the tasty treats as well as small bakeries are offering free items or some other deals. you're up-to-date and that's the news update. >> my mom already had hers she sent me a photo with her coffee thank you very much, sue, we'll see you later. the labor department projecting wind turbine service technicians will be the second fastest serving profession in the u.s. until 2026. the industry is facing challenges and that includes

pressure and kate rogers is at a wind farm in pennsylvania. hi, kate >> the number of jobs reported from the wind industry from construction to manufacturing did hit a new all-time high last year of 114,000 jobs so companies like grid renewables are actively recruiting. the company has some 60 wind facilities like this one across the united states and another five that are under construction so finding those technicians is a top priority they climbed to the top of the turbines to service them and serve that they're officially providing power to the regional supply grid. the majority of these turbines are made in the u.s. and experts say the supply chain is global and that tariffs may hinder that job growth going forward >> we would have been hiring more people if it weren't for the current tariffs and if the tariffs increase as the president's proposing that will either further reduce our growth or could at some point lead to a decline in the number of jobs in

the wind industry. >> now that's something we did see in the solar industry and tariffs kicked in and there were job losses and they eventually rebounded and like we said, record growth the past few years, kelly. >> over to you >> that's a harrowing climb. what do these jobs pay >> so these technician jobs in particular can pay a median of about $50,000. you can move up the ladder as the lead or one of these sites and managers and developers can make into six figures and they can have competitive benefits and signing bonuses and they're across state lines and as we know it's a tight labor market and they're focused on hiring veterans right now thank you very much. >> kate rogers here's what's still ahead on "the exchange". >> coming up, beyond expectations for beyond meat walmart wants access to your home and your fridge the one name that could lose

big if the tech breakup plays out. and why the action is really off the court during the nba finals. it's all ahead in rapid fire s why go with anybody else? we know their rates are good, we know that they're always going to take care of us. it was an instant savings and i should have changed a long time ago. we're the tenney's and we're usaa members for life. call usaa to start saving on insurance today.

welcome back let's catch you up on stories that should be on the radar. it is time for rapid fire. here with me are bill griffith, seema modi. >> hello >> you know what it is today it is beyond meat. look at the chart. it went public at 25 and we are at $125. >> crazy this after they reported last night for the first time they had better than expected guidance in particular and their revenue has tripled at this point. does that now say 33% that we are up on the day? this is probably the ipo story of what would you say, the last five years >> yeah, i mean -- clearly, novelty is a powerful sales tool and they are a total novelty right now. everybody wants to try should ask the curiosity factor is there. now, though, they're going to start playing the game of innovating and coming out with different forms of the beyond meat category. something for different holidays, you know

something for different palates and these kind of things and eventually we'll see a whole suite of things and if they don't then it's another fad. >> the successful ipo of beyond meat sparked consumer demand and inbound interests from restaurant chains has increased following its tremendous ipo so usually you see the opposite for the consumer demand and the growth profile and it's the opposite. >> yes, it's a liquidity and the ipo is a marketing event and in this case it worked brilliantly. >> i wonder if they're the tesla of fake meat >> this is the model s >> well, they're the first mover, but you have nestle coming in and tyson coming in. they generate two times forward

sales and this is now at 22, 27 times forward sales. >> wow >> so i think the competition will get tough. >> or they have to ratchet up and take advantage of the moment and get production as high as they possibly can to protect the inroads and it will be tough and everyone will be coming at them. next, walmart is announcing a new in-home delivery program here's how it works. employees of walmart will deliver groceries online, directly to your fridge and they will wear a body camera so you can see exactly what they're doing while they're inside i would have signed up for this today, but it begins this fall across three test cities >> well, that answers that >> who's going to do this? kelly evans will do this >> i can see coming home from a long day of work and coming home to a fridge that's stacked with the produce i want sign me up and the quality of produce that the shopper is going to -- that person needs to be trained and they need to know exactly what i

want because i do not want any rotten avocados. >> they can pick my cans of diced tomatoes but not my avocados. >> because you're picky about those things >> you enjoy the market. >> i asked bill for his recipe just the other thing for something and i'm not necessarily that person. >> i hate going to the grocery store. >> when i go to whole foods, it is packed with shoppers doing the work of the delivery stuff, and they leave the carts in the middle of the aisle and when you go it's super crowded and the carts are on the way and they're doing the shopping for other people so for those of us still doing our own shopping, grocery stores are a nightmare now. they should have it all done from warehouses so that we can shop in the store. >> that's a good point >> one point to this as well is walmart should be applauded for what it's doing here you go back three, five years and this company was seen as completely flat-footed in the amazon era and they're a step ahead and they rolled out one-day shipping and first, the

details are differentand they're the ones talking about getting trusted workers inside your house and i'm not sure i would be as quick to sign up as if it were from amazon >> the stock has done quite well despite a series of poor earnings from the retailers and it's been sort of the defensive pick among the retail pack. >> and plenty of offense, too. >> let me know how this works out for you. when you sign up and love it -- >> that will be the peak right there. >> speaking of peaks, meggy noonan peggy noonan is in "the wall call journal" calling for the breakup of big tech. she includes google and amazon saying they should be broken into separate companies, after stanley drunkenmiller was on "squawk box" and said google and amazon would be worth more if they were broken up, but facebook would be worth less >> the peggy op ed is worth reading especially when she

calls zucker bergan impeerious twerp. >> in this column, she says they invite mead to this sort of sham meeting with conservatives, but they should be broken up it's unclear is it because of data privacy? because of political bias? monopoly, is it because of fake news she admits i don't care if it's done incompetently by government as long as it's done this is a bizarre statement from a free marketeer like peggy. >> for sure. the anecdotes are great, but the prescription for these companies ironically and even some invests on are saying, fine with me. >> my take is i doubt it's going to happen the way a lot of the people calling for a break upper hoping it will happen because this takes years to achieve and in the meantime what could happen these companies would make adjustments on their own that

would satisfy some of the concerns and they could head things off the way microsoft couldn't during its monopolistic anti-trust trial and the way at&t couldn't back in the '70s and '80s when they broke ma bell up i think they'll make adjustments. >> it's not like, we all hate them >> it might be the interesting thing is it might be. >> there has to be a pricing mechanism that has to be adjusted to prove that there is a monopoly >> let's get cuba and talk some nba. come on down look who's here. >> don't stand in front of my camera so you're in the light after pushing a raptors player during game three of the nba playoffs which was tuesday night, wednesday night what's today friday >> tuesday night >> tuesday night mark stephens has now been banned from games and from team activities for a year. here was his fine. half a million dollars and some

are wondering if this punishment is too light and it's ironic that we're talking about the off the court action this playoff, and rather than the on the court action. >> maybe if you've upset half the side on both sides and maybe you've got it just right here's the thing the guy is a billionaire it doesn't matter how much that you fine him what difference does it make to his pocketbook if he was forced to sell it he could make $180 million profit, so what's the difference in 1 million or it's nothing. they're opening a billion-dollar stadium this fall. he's not going to get to be there. he's probably spent millions o dollars as one of the investors. >> he's barred for a year? >> he's barred from any nba activities for a year. they're opening a billion dollar shea stadium and there's another news and thhe might be forced. >> is there a mechanism to actually have removed him or

does he have rights as an investor -- whatever i do, i own this >> so 75%. >> they didn't go there. >> it's 75% of the 30 governors and the lead owner of each team decides to remove any other owner, and they're not going do it for this -- they're not going to do this for a very small minority owner and think of it as an investor in the team and not really an owner in the team and he's got the punishment and he's got the shame and the public humiliation >> should he be planned forever? what is the precedent for that >> there is no precedent >> you know who i'm thinking about? russell westbrook. you expect a different decorum from a fan than an investor. >> should it be tougher for a guy that -- >> it is tougher half a million dollars is the biggest fine the nba has imposed, right >> right. >> mark cuban, so much attention on social media regarding this and beyonce. >> i can't get into beyonce.

>> does anybody care what's happening on the court that's my point? >> the ratings are up so the nba should be happy, right >> they're watching drake and beyonce. >> i'm watching. >> bill, seema and robert, thank you all as well. the regulatory pressures and break-up calls that the like of facebook, amazon and google are facing is reminiscence of 20 years ago when microsoft was in the hot seat the lessons the giants can learn omhat antitrust movement are next welcome back

in 2001 microsoft endured a grueling antitrust case that nearly split it in half. the doj argued that the company behaved like a monopoly, stymieing innovation in silicon valley, but did the government stifle innovation at microsoft the stock barely budged from 2001 to 2014 with regulatory agencies now looking at some of today's tech giants, what can they and investors learn from microsoft? here to explain is ashby jones,

chief of "the wall street journal's", bureau thanks for joining me. >> you bet thanks for having me >> how analogous do you think this is to the microsoft case which took years and the stock went nowhere, as we said and frankly, innovation failed, as well >> exactly right right now i would say there are some parallels, but we haven't yet seen a theory of the case brought by the government yet. i have not read nor have i seen anybody say hey, here's what we'll be targeting in regard to any of these companies and there's been this vague conversation about ads and it's been about privacy, and about free speech. you guys talked about it in the last segment and your guests were right you can't just come in and break up a company without a very sound legal theory, like they have with microsoft and it's extremely hard to do. >> so i think that the two,

maybe there will be parallels and maybe they'll come together and we'll see that they're similar, but right now i think we have a ways to go on that front. so in the microsoft case it was a charge that anyone could get their head around and they used their dominance in desktop operating system to gain market share and browser and we all remember why that pdz and it had windows on it and it was internet explorer and there wasn't a chance for anyone get in there, was it analogous to the apple store to you or what piece of that do you think points to how today could be pursued? >> apple and the app store and there have been antitrust challenges on that that are working their way through the courts not brought by the government, but brought by private parties and other legal scholarships talked about amazon and amazon because it's so dominant in online retail, it can then sort of move its own products much more easily because of that dominant

position with google and with facebook it's harder to draw those direct analogy, but i do think they are rough analogies to be drawn with apple and am one and we'll haazt of the reading of the tea leaves at this point and we'll have to see how this firms up. >> in microsoft's case was there a consumer outcry that led to all of this because with big tech today there's a lot of angst about these companies and people used their products and enjoyed using their products especially for free which many of them are. what do we see back then >> i do think there are similarities in that at the time we had microsoft and it was the dominant player on desktop operating systems and it was woesz. everybody had used windows, and if you remember back in time everybody had complaints about windows and i think that when they started introducing the internet browser when the internet frankly was only about 3 years old, at least 3 years old for you and me and others that were using it, people were

a little resentful hey, this guy, why do we have to use their browser? et cetera, and there was resentment about microsoft being too big and being a little bit of a bully and it really doesn't reach the level that we have today where people are just throwing, you know, everything in the world at these companies. with microsoft, i think that it was a much more sort of limited set of attacks. >> it was a love hate and my computer keeps crashing. we'll check in with you as this proceeds ashby jones from "the wall street journal," thank you for joining me today lacrosse is the fastest growing sport in america and there is a new pro league in the circuit shaking things up. we'll talk about the owe-founder about his plans to win over fans and sponsors as we head to break, stocks are in rally mode with the s&p and dow on pace for their best week, believe it or not, of the year the dow is up 300 and the s&p up 35 and the nasdaq the

outperformer with a gain of 136 points that's 1.8%. we're back in two. (henry) i thought it was unfair. when-- when you hear those words that you get diagnosed with cancer. (osamah) successfully treating it still remains one of the most enormous challenges facing us today. we realized that, if we developed the technology that could take 2-dimensional patient imaging and convert it into 3-dimensional holographic renderings, we could enable surgeons to dissect around the cancer so we can precisely remove it. when we first started, we felt like this might just not be possible because computing power just wasn't there, but verizon 5g ultra wideband will give us the ability to do this. we won't rest until we see this technology being able to change lives.

what do you look for i want free access to research. yep, td ameritrade's got that. free access to every platform. yeah, that too. i don't want any trade minimums. 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. ♪ puppbunny, bunny, bunny!on. alright, alright. what's going on? my owner got a new puppy. my name is tiny. nobody cares. woi felt completely helpless. trashed online, my entire career and business were in jeopardy. i called reputation defender. they were able to restore my good name. if you're under attack, i recommend calling reputation defender.

and consider joining their groundbreaking campaign to give every american the right to remove old, inaccurate search results by going to righttobeforgotten.org. vo: if you have search results that are wrong or unfair, call reputation defender at 1-877-492-6705. mno kidding.rd. but moving your internet and tv? that's easy. easy?! easy? easy. because now xfinity lets you transfer your service online in just about a minute with a few simple steps. really? really. that was easy. yup. plus, with two-hour appointment windows, it's all on your schedule. awesome. now all you have to do is move...that thing. [ sigh ] introducing an easier way to move with xfinity. it's just another way we're working to make your life simple, easy, awesome. go to xfinity.com/moving to get started. welcome back

a new pro lacrosse league is trying to hustle the competition where the whole league is on the road every weekend like a traveling concert tour will draw more fans to the fastest growing sport in america joining me huge venture here. how are you doing? how are you getting the money to start this >> thanks for having me. it's great to be here. you were a college lacrosse player >> a little different than your lacrosse career. >> well, my brother and i set off to build the p.o.l. probably two and a half years ago our first attempt was to go through the former league, major league lacrosse and we went into to buy up all the teams and rolled it out this tour-based model and that didn't work, so we went the route of finding new capital and primarily venture capital led by joe si.

>> is he a big lacrosse guy? >> he is but what's required is the right capital that understood the long-term play the ufc essentially did what we're trying to do to mma which is professionalize it, commercialize these athletes using new media. that new media is social, a lot of new technology, and so what we're doing, we built out a plan to essentially hack growth by attention in media and then also put on great events. our events are at premium venues, and all six teams. a little bit of a nascar approach >> so this will take place in 14 tour weekends. 13 major cities. culminating in a september 21st championship in philadelphia, to me, makes a lot of sense because the festival model i'm curious about the tv side of it you're partnering with nbc as i understand what are viewers watching for?

when i'm watching the regional base league, i get that. but in your case, it's more athlete-driven is that right? do you think that's going to get the tv audience sort of stuck? how do they figure out who to follow >> we're certainly athlete-driven our players have increased equity in the league the only one that's taking care of its athletes that way though you can't have team sport competition without the vital groundwork of one team competing against the other. but underneath that, and players versus the helmet, and referenced ufc, the old story is the conor mcgregor. >> you guys are great on social. you need to understand, you're cool and cool is what makes social work and it's a natural fit for this how do you get the kids there? a lot of them are playing

lacrosse every weekend they don't have the time >> you have to have a really strong inside and outside. directly to consumer and a lot of the youth leagues that are playing this summer. we think the tour-based model, offering two games on a saturday and one on a sunday can offset the existing compcompetition they can come to the sunday game we also think as you mentioned, the nbc partnership. and 19 games are live on nbc or nbc sports and 19 games live on nbc sports gold. and so this weekend, our 4:00 game is on nbc sports and then on sunday, our game is on nbc main network at 2:00 and the 1:00 game is nbc gold. >> you're going to be looking at betting in the future and so much more. i wonder, can the current major league lacrosse, you took the best players this is a high stakes effort. >> it's definitely high stakes and in the near term, what we've seen is a huge spike in

viewership and attention to professional lacrosse. there's two existing leagues competing. but like you said, 160 of the best players in the world. major distribution deal and we play at world class venues those are the three things that drive pro sports we think the long-term is going to be one winner and that's why we make a long-term bet with how we index with media and getting people into the stands at these great venues >> thank you so much for joining me the founder of the premier, i'm thinking players, but it's premier. don't miss coverage, as you said, of the league sunday match-up on nbc at 2:00 p.m. eastern time goldman sachs ceo david solomon saying it's digital e mming efforts being ignored by thcounity and his plans to change that are straight ahead t? 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. that i won the "best of" i casweepstakes it. and i get to be in this geico commercial? let's do the eyebrows first, just tease it a little. slather it all over, don't hold back. well, the squirrels followed me all the way out to california! and there's a very strange badger staring at me... no, i can't believe how easy it was to save hundreds of dollars on my car insurance with geico. uh-huh, where's the camel? "mr. big shot's" got his own trailer. ♪ wheeeeeee! believe it! geico could save you 15% or more on car insurance.

goldman sachs ceo david solomon is speaking out about the company's growing retail business he says if marcus, their digital bank, was a silicon valley start-up, people would be, quote, throwing money at us. banking reporter hugh son spoke with me. he said we're not getting any respect here.

>> i think that's the interesting to this guy's personality. he's complaining, essentially, if they were separate, they'd get this huge valuation. being an investment banker, i think he knows his stuff about that, however, it sits within a huge investment bank and that's the problem. all of these capital businesses, they're not growing very fast. >> they've done quite well 4 to 6 billion in deposits, start to make loans. they're offering the highest rates on the street. how much applause should they be getting? >> if it's economic for them, it's okay. they say every billion, they save 100 in wholesale costs. this is still economic for them to offer 2.25% >> that makes sense why. spin it off and watch it get a higher valuation but then that would undercut the model how does that compare with j.p. morgan which was a similar effort. >> shut down fin nobody understood what fin was about. it was supposed to be this thing for millennials. it had emojis.

it shows you that j.p. morgan and other banks experiment and come out with clunkers and the important thing is the experiment. >> amazon had plenty of clunkers and also done just fine. i like your point here, why do you need a separate brand when chase works just fine? i use the chase app. i think it's great >> sapphire, another millennial product and that's the same demo >> could they do something though on the rate side, which is working and differentiating markets. why would someone else enter that game? >> one thing about fin, you make a good point, it paid, i think, effectively zero interest rates, even in the savings. so maybe that was one reason why people didn't sign up for it however, a big engine for the market is the net interest margin and want to preserve that as long as they can. >> goldman isn't as worried but they're an investment bank instead of a consumer one. >> no brick and mortar too with markets. >> makes the economics better.

>> it is a little window inside the psyche of goldman. give us some credit. we're not getting any love >> they'll get there that does it for "the exchange." i'll join tyler and melissa for "power lunch" which begins right now. >> thank you, kelly. see you in just a moment i'm melissa lee with tyler mathisen a weaker than expected jobs report leading to a big market rally. markets expecting jay powell and the fed to come to the rescue. but will they? is there a creeping credit crisis parked outside in your crisis auto loans with a record high and would you trust the walmart worker to come into your house and put your groceries into your fridge "power lunch" starts right now >> welcome to "power lunch." i'm tyler mathisen big rally as the weak jobs report makes a fed rate cut seem more likely. that's what'