world of cyber crime in our her book which is out now. thanks for joining me. time to join tyler for "power lunch" which begins now. >> welcome, we'll see kelly in a minute trump -- what's next if we don't get a trade deal we've got three of the best banks for your buck and it's the era, the man behind some of apple's most important products. the designer johnny is leaving what it means for apple and the future of that company "power lunch" starts right now >> let get a check of the

markets. they're striing to close out a stellar month in green we are looking like that ham, but u off the session highs. the dow was up now up about oh, about a fifth of a percent it's the ipo of the day. more on that one coming up 40%. shares of consolation brands we have an exclusive with the ceo straight ahead >> thanks. >> we begin this hour with a trade war. president trump getting ready for a face fo face meeting with president xi in a few hours. kayla is live at the g-20 summit in o saka, japan, with the latest kayla. >> kelly, that 90-minute meeting is taking place 209 days after these two leaders last met at the summit in argentina and white house officials are exp t expecting a similar outcome. a cease fire of sorts. although aqui knowledged the

situation is trickier. china has walked back some principles that had been ironed out and the white house has introduced some of its own hard line policies in the meantime. so that makes the situation tricky, but none the less, any cease fire this weekend is still going to be followed by a very difficult road of negotiations chris krueger joined the cease fire camp today, but points out just that very issue he says we suspect that any breakthrough will be more cosmetic than real and more a truce than armistice the conflict remains filled wit holes. perhaps that's why president trump when asked by reporters when he had agreed to suspend this next round of tariffs wouldn't say >> we're dwoigoing to have a men with president xi tomorrow as you probably have heard. seems to be a rumor about that and we are deal we look forward to it. i think it will be prukive

and who knows, but i think it will be productive at a minimum, it will be productive >> once the television producer, always a television producer loves to build that suspense we'll get an answer, we hope, in just a few hours from now. >> let's bring in head of research strategy at the yur shah group woeck to both. glad to have you with us today meredith, let me begin with you. are you with the consensus that believes that what we're going to get tat outcome of this meeting is a trade truce limited bay deadline, maybe not. >> certainly the consensus is that there's going to be a trade truce and at this point, the group places a 65% probability on that. but more importantly, what is going to be the outcome of that truce. and in that, we see falling prospects of an eventual trade

deal actually getting done this year placing only a 45% probablity based upon the remaining gap between washington and beijing as well as by the complications introduced by the u.s. placement of huawei, on the entity list. >> that's an interesting point there, that the odds of an eventual deal in your view are coming down. john, do you subscribe to this view and how thorny a problem is huawei in all of this? >> well, the lead is i think that this trade war is just politically too profitable to end. this trade war is going to go on right into the election season next year. >> in other words, too delicious an issue for the president to let go of it. >> absolutely. hating foreigners is easy in politics, but we'll probably get a truce this weekend we're hearing a lot of rumbles

about it probably without a deadline. i don't think that's going to make a deal. truth is, a deal has been in place since february and has been undermined since then by the huawei sanctions and by the sanctions last week on the five additional companies and so i think they're going to have a nice meeting. they won't announce a deal, but they'll announce we're going to go back and talk to each other i'm just glad in this world i'm not steve mnuchin. he has the hardest job in the world. >> what do you think that means for tariffs? which way are they going >> i think they won't be raised, which is what the proximate quick goal is of this thing. is that you know, save the increase on the $300 billion a great sword to hold over somebody's head. we'll want to continue holding that, but this thing is expanded now. early on, it was a trade war thought of as an economics issue. it has turned into foreign policy the foreign policy guys in the white house are involved now they're trying to stop china from growing and getting important and influential.

that's not going to go waway >> meredith, do you see it that way? the way john does? that this has me tas sized from a simple trade and balance of payments issue into something bigger than that at least within some quarters of the white house? >> i would say that the u.s. president probably still thinks about this as primarily a trade issue and has used huawei and some other pressure means to get his deal we're bradley speaking the way the national security hacks are thinking and importantly, how beijing is perceiving this situation. beijing does see this as not a simple trade deal, but a long-term economic struggle and we see signs that beijing is taking steps, monetary and others to prepare its economy. to be able to withstand this quind kind of pressure coming from washington over the long-term. so if i'm xi and showing up at

the g-20 in our view, his goal is not to come to the table ready to negotiate and ready to make concessions, but rather to see what can be done to stave off onward escalation and manage the risk coming washington until it's clear whether he's going to have a different partner >> let me conclude with a reference back to what john said a moment ago is there a incentive for the president of the united states to make a a deal or a disincentive, really no incentive if he declares a truce, because this issue is working for him politically. >> china and immigration do work for him politically, but the key risk here and i think the one that the president, the u.s. president is increasingly mindful of is that if we have no truce, if we have a breakdown in talks that forces his hand in moving forward, the last batch of tariffs on the remaining 300

billion, that's going to hit u.s. pocketbooks mainstream voters. it's going to add further pressure to the u.s. economy that we've been watching closely since may. and the question is at what point will that economic pressure be too much for the average american voter to be able to withstand. >> as john points out and the chart indicates, there's an economic drag that attaches to those tariffs and it can be as much as 1.2 trillion by 2021 john, thank you. meredith, thank you. >> thank you >> thanks. >> the dow heading higher on this final day of the first half of the year and that leaves the index with 14% gain so far for a look at what's worked, let's go to bob pisani at the new york stock exchange. bob. >> hello, kelly. ipos, interest rate sensitive stocks and despite the china trade worrieworries, technologye big winners in the first half of the year look at technology semiconductors, they're the

proxy for the trade wars rising in the last month on hopes for a truce in the trade war there, building on big gains in january, in february, so look at these gains here. land research applied materials and qualcomm all up. elsewhere, low rates have helpeded home construction stops despite higher home prices being a problem and made it a lot more attractive environment for alternative investments like utilities also up on the year. now it's curious that the banks have done well, but you've got to look carefully here all the gains in the banks came in january as the banking industry and economy recovered from concerns about a slowdown in the second half of this year. finally, one of the most successful investment of the year, what would have thought it would be ipos? really, the renaissance capital etf, a basket of the most recent large ipos, up more than 30% this year. that's the orange line twice the gains of the s&p 500 on huge demand for unicorns like zoom, crowd strike, pinterest

and slack and there's a lot more waiting in the second half back to you u. >> it's been impressive. thanks the dow still on pace for its best june in more than 80 years and if you listen to our next guest on "power lunch" at the end of may, you would have made a lot of money he predicted a june rally after that rough month jeff is editor in chief of the stock trader's almanac so, what happens now >> following the strong start we had, expect it to be down. a month in production year it doesn't bode well for july or q3 but it doesn't ruin the whole year so we're looking at the worst four months. easily, july, usually can be up about two and a half percent when june is down, but only about a half a per spent when june is up >> is it true there are some just months that are more outliers than others in other words, when you have a month like may then june, it's

easy to talk about that cadence. but from here, you know you talk to the fundamental guys, they say it depends on tariffs. >> we look at fundamentals, technicals the season altar i haves set up. the average pattern of the preelection ear, we're right o it i mean average gains at 16% for the dow and s&p. close to 30 for nasdaq we're already there. taek cals could use some breath. everyone wants to either be bullish or bearish >> so you seem cautious over the next four months that's been a rough patch, but do you expect the markets will end higher at the enof the year? >> i do. >> a little or a lot. >> happened fful or so than the highs. i think we'll see new high december is in the preelection

heyear is where we've seen most highs, in december and even on the last trading day of the year >> of the 2019 the third year what happens in 2020 in general in the election year itself? >> election years have become a battleground a constant campaigning starts when they an inauguration day these days, we've seen some nasty election year, 2000, 2008, '16, we had some trouble leading into it. from what we're seeing on the television with the debates and what everyone's talking about and the tariff debates and immigration debate, i suspect we'll have some tougher sledding in 2020. >> and the possibility of a slowing economy. i mean a lot of people >> it's going to be hard the comparisons are going to be more difficult now that we've had the tax cuts and that sort of thing >> from the president's point of view, doesn't he try to do everything in his power you know to throw things to the economy that -- >> yeah, that's page in the

book how the government, the almanac, excuse me, to stay in power. he's trying that right now was it mr. rutledge talk about the plitization of this tariff battle if both xi and trump are doipg that and they're both solid politicians. tru trump's kind of a rookie >> but we're a year and a half out. do they focus, when is that sweet spot for them saying this is going to have the most bang for its buck >> it usually happens in the preelection year and that's why preelection year has the best record of the four year cycle. tax cuts getting through you know back in '17 that's the kind of thing he'll try to do. he's already got some things going on i know him and the democrats have some issue, but you know, he'll want to make a deal. >> they have some issues >> thank you

i try to be polite we're market neutral i think it's time for some patience over the summer july 1st, best trading day of the year >> in performance. >> performance up 85.7% last 21 years but a half a percent gain. >> thanks very much. good to see you. coming up, big banks are soaring today as they pass the fed's stress test. now they have the green light to buy out stock. which are the best bets from here we'll tell you and a huge day for the realreal and its ipo and if the company's ceo seems familiar to you, maybe you have a good memory. we'll tell you where you may have seen julie wainwright before.

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leslie picker joins us now with more. >> hey, kelly. that's right now julie wane right, a lot of people are looking at this as a potential second chance and a rebound for her as you u

mentioned, was the ceo of pets.com and the it's important i think to distinguish the differences between the realreal and b pets.com the key difference is that pets.com was losing money on every single sale on its site. it generated less than $200,000. the year it went public in annual revenue 200,000. the realreal, about $200 million in revenue at least in 2018 so there are some clear differences in terms of the business models. in terms of o the timing, which wainwright spoke about today on sidewalk on the street the economy is more accepting.

people are buying more things online these days. >> we did 711 million last year. the total opportunity in the u.s. is 200 billion. so we're going to continue to focus on growth, but nout at any cost we're hyper conscious ant unit economics. we have a path to profitability. and we're going to execute against that path. >> i think that's the key investors are focusing on. the pathway to profitability the idea that wainwright believe this is company which is still losing money as did pets.com many many of the other companies, that she believes that the realreal has a path to profitability. >> $200,000. 200 million. amazing. thanks very much financials are rallying today. a number of banks raising dividends after passing the fed's latest stress test

is this group starting to look attractive again joining us now, jason goldberg, managing director with barclays, he's got three smart plays for us what do you think? a few years ago, we waited really on knifes edge for that he has stress tests. >> the median bank is going to buy back over 8% of its shares over the next 12 months. that's up from about 6% and the banks yield is about 3, 3.5% that's the highest of any of the 24 s&p sub sectors, so this group clearly is attractive from a yield perspective. >> before we get to your three recommendation, let me just narrow it down there are banks and there are

banks. some small, some trust banks and some are full service. where's the sweet spot >> if you look at the stress test last night, the money center, money center and trust banks or custody banks, better than the regional banks. they were able to kind of skip this year's stress test but had some constraints based on what they did last year, so from a yield per speck ty, their results were on the lower end. you know in addition, the interest rate environment is a bit challenging at the moment. so we have a bias towards the biggest banks given that's that -- >> what's the deal with the search >> three months to the day, these things take three, four, five months. >> jpmorgan we've talk obviously at length about pnc.

is there a play in general that is is going to come up here at some point with the banks or no? is it all pretty much locked in at least for the top ones? >> we think the industry will see continued consolidation. we think the backs will halve over the next 25 years some big, small small. sun trust, bb&t earlier this year we look for the fed to ai approve by the end of the year and that could serve as a cataly catalyst so we don't think it's fully cleared out yet. >> wells fargo is the worst behind it dividend yields also reflect a stressed stock price often >> 4.4% yield against 2% ten year, so outstanding there and then on top of that, they're going to buy back over 11% of their stock over the next 12 months, so that's you know, that's real and capital going back to shareholders this company has done a you know, a a good job on credit quality, buying back a lot of

stock. we think there's a lot of wood for them to chop on the expense front. we think once they get a new ceo in the door, that will be a big foe focus. if they hire the right person, that's not something that's hard to do from here. >> thanks very much. preeappreciate it. >> thank you technology is the best performing sector on the s&p 500 sor pha this year. can any more big gains be in store? trading nation tackles that next and the ceo of consolation brands ha has vowed to join us here the stock is higher, but what uz does it bheeb tariffs? stay wit"perun" d 'lask.ow lchan

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♪ wheeeeeee! believe it! geico could save you 15% or more on car insurance. welcome back tech stocks leading wall street in their best first half since 1998 the likes of and, paypal, mast e card powering up with double digit gains. so it the time to stick with the tech winners for the second half craig johnson and steve are your trading nation team today. craig, obviously, been years now

with good strength from the technology sector. where would you look to continue to outperform? >> mike, the overall basic question is would we stick with tech i think the answer is yes and we remain overweight tech at this point. now two names to talk about first, if there's going to be a trade deal, take a look at the chart of amd here's a stock that's been in a pretty well defined uptrend. a close above 33.50 on the stock would be a nice topside breakout you see an objective that would take the stop up mid 40s on the weaker side, i'd point out the stock of paypal. this stock has been in a very well defined uptrend but the most cent advance hasn't been as strong and moved to the upper end of the channel that could be from if facebook announcement with lie bra point. so from my perspective, that's a pan and i would will looking to take profits but stay long at this point in time amd >> steve, i guess b youb for you, the big picture question would be is this the category,

the style of stock that you think is well positioned here going into this next phase for the market obviously the it's got a little bit of f a defensive sense about it as well as sec already growth >> we definitely think it is so with the market at highs here, we have taken a couple of chips off the table. but we have done it on the value side and internationally and specifically chosen not to reduce growth. these companies are sitting at the vanguard of what we've talked about a lot, the digital revolution when you look at the group of companies you've mentioned here they're all tied in some way, mobile payments or big data or ai we think that's a durable thing. we like the second >> all right last couple of days has been a little bit of a stutter step in that outperformance. we'll see if it's quarter end noise or not guys, thank you very much. for more trading nation, head to our website or follow us on

twitter. tyler back to you. zpl ahead on "power lunch," an exclusive. the ceo of consolation brands. earnings, trade and he's going to bring the beer. plus apple's design chief is leaving. what is his departure means for apple's future and would you drink water out of a can why pepsi is ditching plastic bottles for water. all this when "power lunch" returns.

i'm contessa brewer. several democratic candidates appeared on "morning joe." california senator kamala harris talked about sparring last night with former vice president joe

biden over school bussing. >> he and i have a difference of opinion and also difference of opinion on states rights i was actually a bit surprised to hear how he described in defense of his position, his perspective on the role of the federal government and in particular, he mentioned the department of education. >> elizabeth holmes in san jose is facing fraud and conspiracy charges for allegedly misleading investors in her blood testing start up, but her trial's going to take a while. july 28th, 2020. her jury selection with opening statements to begin on august 4 next year. the martha's vineyard estate of jacqueline kennedy onassis is on the market for $65 million. property listed by christie's international real estate and it's been maintained by her daughter, caroline that's the cnbc news update this mour back to you, tyler >> thank you very much

the oil market closing for the day and prices are dropping. seema is following frit the commodity desk >> want to draw your attention to oil prices because you are right. a steep intraday reversal heading into the close on the last trading day of the month. wti crude closing down 58.29 down nearly 2% crude at $66.51. basically holding on to the flat line, but we did start the session in positive territory and as you can see, closing down on the day and for the year, it's worth noting debt miss the volatility that we have been seeing in oil prices and in the larger energy sector, we're still higher for 2019. now the big factor to focus on for the second half of the year will be the u.s. iran relationship and whether geo political risk will pressure prices further >> thank you very much constellation brands surging on

the back of its earnings beat. expegting a big boost from 2020. wine and spirits seas are expected to drop as young consumers shift from cheap wine and beer with us now is bill, the ceo of constellation brands and it's great to have you. welcome. >> thanks. good to be here. >> it's fascinating when you can be down 25% on wine and that's better than you originally thought. can you tell us what the heck is going on with this category lately >> well, as you probably know, we are sell iing roughly 40% of our wine port foal low to gallo. so the reality of it is that our remaining business was actually up in the first quarter. ou depletions were up over 4% with our critical brands like kim crawford and naomi we're pleased with the results if you're selling 40% of the business but it's on going to fall 25%, you think there's decent growth? where would that be coming from. what does the consumer want? is it wine beer craft beer

cannabis >> it's actually some of all of those. one of the things that's change nd the last 20 years is today's consume drinks across all three categories, beer, wine and spirits much more than what had happened historically. and we're perfectly positioned for that we have all of our products in the high-end whether you talk about our wine business, beer business or our spirit business, we're playing in the high growth, high margin sectors of the business. and it's paying off for us >> high growth, high margin sectors of the business. and as you said, that's partly why you're divesting the lower price. how does cannabis fit into that? >> well, can dnabis is going toe a big business and we studies it very carefully for a long time got a lot of external help on the question we said this is something that we need to be in the consumer is interested we see as somewhere in the next ten years of a $200 billion business it's going to be big business. we felt it would be important to be involved with that and be a

part of that and we choose, chose to make it through canopy. >> i'm curious and i certainly understand the business case forgetting into the cannabis industry, but i wonder as you went through that internal conversation, where and how did the moral questions about getting into fit in? how did you, how did you get there as you are as you are buying >> we did a study as to how cannabis works and what the medicinal benefits as you probably know, cbd has gotten legalized here in the united states and is a huge opportunity. so we certainly had a lot of discussion around the topic.

but the benefits the plant can provide to the kooumer is immense. there's a lot of ways that -- >> are you saying then it's going to depend more on medicinal use than it is on recreational use and constellation is is basically a recreational kind of company so i have to think that that's a, a critical part of the business decision that you made and that you think it is not goonly going to be a big busine, but a moral business to be b in. >> for sure. zpl. >> we are very aware of the social responsibility elements from our core business today and we think that both the medicinal side and the recreational side are both going

to be important characteristics. but we will do it in a socially responsible way in the same way we run our core business today >> bill, i bet you thought when you know you had such a home run with modello and corona, i bet you never thought you'd have to worry about tariffs, right what kind of planning is going on now around that exposure if any? >> certainly looks like they're off the table as it relates to mexico if in fact something, trading relationship with mexico and our preference is that we continue to see the free trade so the great brands like mo ddeo and corona continue to flow into the united states unabated >> that said, do you think you have the scale that basically you would just push back on your

suppliers? >> well, i think certainly there would be some hit. if that in fact occurred we're actually preparing to move forward. we think this is largely behind us and certainly as you saw in q1, the results around our mexican portfolio have been excellent and we're really focused on making sure the consumer is getting what they want >> we just ran a little clip of one. your ads make me thirsty they're very, very effective what is your big prosecco. . >> rafino is one of our prosecco opportunities. we bring that in from italy. it fits right in with some of the consumer trends that we're aloud luded and people enjoying during the summer. >> i've got the song many any head now thanks for joining us. we appreciate it

>> i'm thirsty >> apple's design chief leaving the company. how big a loss is that for tim cook and the red sox and yankees going across the pond to play a two-game series in london. on a soccer field. in the middle of the world cricket. h is that going to work?

shares of apple are down following news that the design chief officer is leaving after two decades at apple he was responsible for some of the most iconic designs of all mac, iphone, ipad, the apple park, the campus out there so what does his departure mean to apple and where does apple g from here? joining us is joanna stern from

"the wall street journal" and steve kovach what do we know about how this came about anything was he just done >> yeah, it's been in the works. we've been to these apple events for the last several years it's funny to see him out there looking at the products. i would joke, seeinging fit for the first time he's been rell tyly checked out. the last major product he did was the apple watch. as far as where the technology is today, there's not much for him to do. every f few years, a revolutionary new product. from the iphone to the ipad to the apple watch. technology has hit the limit so he's bored >> he b had been working on incremental changes. >> versus max changes. >> as steve said, the last big new product was the watch and the question is what is that next new big product we've been hearing maybe it's glasses. maybe glasses might have been

the last thing ive had been designing. they're not out yet, but maybe this was f the mark he felt comfortable. i saw in his interview with the financial times, this was the natural or gentle time to leave. >> but that's interesting because now it maybes me wonder while we've said what what's it mean, you guys are suggest iing there's no reason for its most important designer to stick around because there wasn't anything to work around. >> no product pipeline >> i think there's a product pipeline i think the need to reinvent what the phone looks is really hard to keep doing when was the last time your phone changed in shape or design >> does that mean you forgive him or he was never at fault they've had a number of design blunders in the last couple of years. there were faulty keyboards. a light leakage around the iphone notch 10r. apple stylus pencil charging issue. so have those blunders been an indictment on him or does it

subject he wasn't really involved >> i have a big peeve about the keyboard i wrote a a big piece about this because my keyboard broke and i was so excited about this laptop because the keys kept pressing or double pressing i spoke to a ton to have people about this and attributed it to the thinness the obsession with the thinness. apple's obsession to make things thinner and thinner. we've always heard it was his biggest thing. did the thinness cause the keyboard not to work there are signs it had to do with dine. >> can never be too rich or thin >> jony ive minimalism >> he's the guy at the top with who has to sign off >> as you're pushing to get these things thinner and thinner, there's going to be a limit. >> and a laptop that's better after 30 years

who then is in charge design wise at this company how important is is that going to be? it's the coo, jeff williams, who's overseeing the design group and that's an interesting choice there's no other jono ive. so it's jeff williams, who's more of a seen as not a product guy or stedesigner, but an op rs guy. so it's an interesting choice to have him overseeing the design group. >> an operations guy ultimate insult. >> where does he rank in the great sort of pantheon of industrial designers >> he's up there >> yeah and you mentioned all those products as you started the segment. those are iconic products. they are beautiful and he is certainly a design genius no other tech company has had so many hits when it comes to both the design and functionality of

his proteducts. >> thank you "power lunch" tasting menu is ne next don't go anywhere. amazon delivers the airlines take and could bottled water get a makeover right after this thank you so much for coming in. is something going around? yeah, uh, welcome to cold season. [ sneeze ] you know at cdw we get that sometimes it's smart to work outside the office. that's why we would suggest the powerful, portable lenovo thinkpad t480. to let your people stay productive from anywhere. wow, i feel really great about this. [ sneeze ] it's probably nothing... or something, really bad.

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time for a taste of some of the other stories we're watching today. amazon has become is own biggest shipper now. it delivered 48% of its own packages this year this is a dramatic shift from just two years ago when the postal service delivered more than 60% of amazon's orders. i guess this is an example of vertical integration you own the delivery as well as -- >> the question is what is that number going towards >> and might there be an acquisition in their future? >> good point. if you check your luggage, check your pockets, too. u.s. airlines collected $1.3 billion in baggage fees in the first quarter of this year, on pace for more than $5 billion for 2019 they say the fees allow them to keep ticket prices down. critics say it makes ticket prices seem lower than they really are >> well, it's the whole cost of the flight that matters really to me. >> do you ever pack luggage? >> do you mean check it? >> yes >> occasionally. >> i assume you pack luggage >> yes, i do get ready to crack a nice

cold can of water. pepsi announcing it will roll out aluminum cans to limit single use plastic bottles studies show consumers are more than seven times -- seven times -- more likely to recycle aluminum cans compared with plastic bottles. that is a good idea because there's so much plastic in the oceans the idea of drinking water out of a can doesn't do it to me >> they have to get mathison onboard. >> i expect something carbonated or alcoholic when it comes out of a can i'm sorry. i'm shallow. >> no, your water would be a disappointment why are people looking at the real estate market to predict nba free agency? that's next on "power lunch. you should be mad that this is your daily commute. you should be mad at people who forget they're in public. and you should be mad at simple things

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did you know i grew up here? i used to come here every saturday as a kid. do you still have family here? a lot of cousins. it's nice to be back.

this is it - the company's new home. we'll finally have the space we need to keep expanding. all that work is definitely paying off. congratulations. thank you. at u.s. bank, we believe hard work works. and that's why we work hard together to help your business realize its full potential. ♪ the boston red sox and new york yankees are playing a two-game series in london tomorrow and sunday. looking at some of the challenges baseball faces putting this game on, eric is this the first? >> it is the first time ever, exactly. the first time major league baseball is playing a game in europe as the sport tries to drive revenue growth by attracting new fans. for the most part they've been successful at getting europeans to buy tickets, not just american tourists, but the challenges range far and wide like explaining how baseball works and answering vexing questions such as why is it

called the foul pole instead of the fair pole. the league is sending a link to a baseball 101 webpage to its entire london database concession stands will sell portable radios so fans can get live explanations. the games will combine customs from both countries including grounds keeping performing "the ymca," "sweet caroline," and espn and fox have faced additional trying to get the right camera angles. it's led to odd dimensions like a short home run wall but immense foul territory >> what's the foul/fair play wording issue? >> we call it the foul pole, and that's where a ball would be fair or foul, so then they say why isn't it called the fair pole >> if it hits the fair pole, it's foul. >> that's why they're confused >> is the mlb way too late the nba has done well. >> they're not too late.

again, baseball is international in different places like japan and asia and latin america so going to europe is a different market for them. they've done well internationally in different countries. >> they have the cricket world cup to compete with. tough timing while we have you, nba free agency starts sunday night >> sunday night at 6:00. >> people are watching the real estate listings? >> there's alternative data. everyone is trying to track whatever it is to figure out mark funlds kevin durant just sold his malibu home for $12 million. maybe he's leaving the west coast. a few months ago kawhi leonard bought a $13 million house in southern california. everyone thought he's going to come back to the west coast. but then there was all this controversy, did he also buy a house in toronto >> do we know? >> there's a wealthy ceo in toronto offering kawhi a multimillion dollar penthouse to stay in toronto. all this real estate transaction is your way at getting information about where people are going like lebron was locking at schools in los

angeles well before -- >> it was a tip, it was a tell >> it's the alt data for basketball >> what's the latest on durant >> no one really knows a lot of experts say we don't know what he's going to do >> that's the most honest thing they could say right now i guess. okay anyway >> all right, thank you. >> you've got it >> i do wonder, though, we should mention while you're here, full transition into check, please. >> stick around, will you? >> i'll be like melissa, third person >> james holzhauer is tweeting joking sometimes you ditch work for a month and take down a whole state's economy. >> it's not nevada, guys, it's nevada >> they misspelled it. >> spell nevada right. >> if he's saying they're doing worse because he's not there, he loses money and the sports books gain the money he's supposed to be a good bettor

>> presumably he knows what it means. >> and elizabeth holmes not wearing her trademark black turtleneck is leaving court. the trial is not going to begin until 2020 in july that's a long time to wait for that one >> a whole year from now thanks for watching "power lunch. >> "closing bell" right now. welcome, everyone, to "closing bell. happy friday down here at the jpmorgan post we'll tell you everything as an investor that you need to know on this final day of the first half of trading for the year >> let's get to what is driving the action, of course, the last day of what has been a strong first half to the year for stocks banks and small caps are leading for a trump/xi meeting the market is up about 12 points on the dow we're of