. good afternoon welcome to "power lunch. along with frank holland, i'm tyler matheson the fed minutes breaking right now. what were they thinking at the last meeting steve liesman is digging through that. georgia is on everyone's mind it seems. businesses are caught in the middle over that new voting law. and two heavy hitters teaming up rick caruso with the winkle boss twins. caruso will accept rent payments and more in bitcoin. he'll join us with tyler

winklevoss frank? >> thank you. we await details from the fed minutes. you might think today'squiet based on the numbers but there's always action somewhere and today it is in the big mega cap tech names you probably already own, talking google, facebook and microsoft all hitting all-time highs today let's bring in bob pisani with what's working today and what isn't? >> frank, things are flattish. that's good news things have been going great the vaccine rollout is really strong so it's certainly good news to move sideways at record highs. everything is rotating through really nicely. you mentioned the tech stocks with leadership overall and not concerned that we're flattish this week. people love trading the thematic tech etfs and clean energy and 3d printing, cyber security

etfs they've been showing some signs of weakness. i think the prices are very high on the thematic tech etfs. not surprising they're pausing a little bit here. the reopening stocks with runs up and down and weaker today and not saying that much see some hotels, airlines a bit on the downside but a pretty good run, particularly in the last two weeks finally some industrials and big consumer names with great runs, too. some stay at home stocks like sherwin williams and whirlpool they're weaker the key story is guidance for next week. they want more guidance. we don't have the visibility we can't tell you what's going on that's 2020. nobody wants to hear that. prices are too high. they want to hear the ceos

giving guidance of how business is going to be in the second, third and fourth quarter no saying you can't have visibility and they will get the pushback on that idea. ceos give better guidance and support the stock prices that's what the market's expecting. an interesting earnings season. >> interesting point no guidance last year. this year you better give it. let's see how the bond markets are reacting to the minutes. >> the headlines are starting to come out a couple headlines and sticking with what i think is the big one, the fed -- bob talking about guidance if you look for guidance from the fed it won't have anything new because they won't recalibrate it very often. that seems to be a headline comes out. what does that mean? they're sticking to their dovish

story line and we heard from chicago's evans to take months before we have a judgment on some of this and other headlines say it's a long time in the economy before we see substantial progress all of that sounds different than many of the numbers we see every morning. let's look at a chart of 2-year chart yields the whole chart is flat line from the beginning of 2020 but when you zoom this year, year to date, this is important, even a 2-year note, the short maturities, are starting to turn higher if you look at a 10-year note yield since the end of march we are sliding and another commodity that's sliding is the dollar it's sliding i think a reason is because one thing from the data is painting a strong picture the fed is painting a different picture and many investors are nervous but who wins

the market where's the dow jones industrial average? trying to find direction with the minutes coming out but last i looked it was very close to 33,500 gentleman j that's a dizzying height with regard to a price. frank, back to you. >> all right we appreciate it. now over to steve liesman for much on the minutes. what do you got? >> just a couple comments on the economy that came from the minutes saying that the pace of recovery picked up and when they met in march they saw encouraging developments regarding the pandemic particularly the vaccinations and the vaccination rate is something that buoyed the review and pent-up demand home sales were seen as robust, may be an understatement given the actual data. the economy, though, far from achieving the fed's employment goals and they said that changes to policy should be based on outcomes, not forecast that's the federal reserve

really reiterating this idea of getting rid of the notion of preemption i'll take another look at the headlines and the looks like pretty much sums it up the fed standing pat for quite a while until it gets to where it wants to be, which is much lower unemployment, much more gain as to the lost jobs in the pandemic and not signaling any near term change in policy tyler? >> thank you stay with us for more reaction to the minutes and the impact to market and the economy, let's bring in two guests folks, welcome back. it is always good to see you both lindsay, it sounds to me like

the fed is much more concerned about employment than it is about inflation. >> right now it does seem the fed is focused on if labor market and the here and now, really acknowledging the improvements that we have seen in terms of payroll growth, the decline in the unemployment rate and emphasizing that the recover is far from complete we did see a discussion also in terms of the asymmetry of the labor market meaning the harder hit sectors, the factions of the labor force that have been impacted, maybe lagging behind that national improvement and emphasizing the frame work that they'll be using when they judge whether or not we are back to the full employment level and looking at the labor market. inflation is a secondary consideration as they view any sort of uptick -- temporary or transitory the focus on the labor market.

>> it sounds like this -- these minutes much of a nothing burger there's not much in there but not to move against inflation until they really, really see inflation. >> this is good news that the fed is being trance important, that it is the status quo, that the low rates are for longer which will continue to be a boost in the economy and the markets. so all of this is additive and positive coming to the markets. >> turning back over to you, a lot of talk about inflation but we are expecting the march cpi in a few days but as of right now inflation at 1.7 pe% over te last year. how do they get it as high as 2 ha2.4% and address real unemployment there's a lot of parts of the

economy left behind in the recovery how can you do both? >> looking at the phillips curve as there's increased economic activity then we see more jobs that are created, all of that also leads to a higher level of inflation so there could be a coupling the phillips curve doesn't always hold but there's a lot of reasons for inflation that are a part of employment numbers so i would say that we do expect inflation numbers to continue to go up for a while. and that the fed is much more concerned about unemployment than inflation numbers and want to see the labor participation market back to a more su stanible long-term market for unemployment where we have women participating in that labor participation number. >> let's go back to steve.

i don't mean to be snar iky as nothing burger - >> this is my life's work, tyler. my life ice work call it a nothing burger. >> i'm feeling bad. >> thank you all good. >> find nuggets in there for us. >> i am going to find you some nuggets. some large nuggets, tyler. let me just give you a quick headline the first one to add is that the fed said sometime before there was substantial further progress, that's the three-word phrase to signal when it is reducing its asset purchases but let's take a step back if you can put up the two-year note for the grand point to make here, the big story here is the debate right now is whether or not the fed does some interest rate hike in 2022 versus 2023. i kept thinking about that debate i deal with it every day all day

long wow. that's a long way off to be having that debate and if you compare it and go back and do like a 10-year chart on that 2-year note almost the whole time when bernanke and yellen kept rates near zero in the great crisis and the aftermath the market kept anticipating that rate hikes were coming. the big story is how fed chair jay powell and the fed have convinced markets how patient it will be in raising rates the 2-year note barely changed after $1.9 trillion of stimulus passed by the biden administration a jobs report in march that was a million jobs if you include the revisions from february. this is the big story. this is a big part in my opinion of what underpins the stock market right now this belief in patience.

it is like powell has convinced everybody to take the blue pill and nobody knows that, a reference from matrix if you haven't seen the movie. >> i have. that was a something burrito. >> he had something there. >> the life work take it easy jamie dimon bullish about the economy and saying that those stimulus payments are a big reason why do you agree with him on the bullish stance do you feel like this deficit spending is okay if it leads us to a recovery? >> i think what we have seen is forecast and expectations have been revised significantly higher as the virus has been controlled vaccinations picked up speed and because of the trillions of dollars in spending that's been alloca allocated into the economy so essentially to his point we are creating this perfect equation for short-term robust

growth essentially you have businesses at this point very willing, very able to open and welcome back customers and you have a consumer base, stimulus fueled consumer base anxious and willing to go back out and continue to spend. so this certainly does create again the perfect equation for robust growth near term and we have to consider the long run consequences talking about a massive expansion of the government's balance sheet and while the fed may not be concerned about inflation in the near term there has to be implications that we do have to consider and should be concerned about. >> the president has said that he has not spoken to the fed chair i guess since taking office but doesn't mean that the administration isn't coordinating with, in contact with the fed does it? i think that's what we have seen in the prior administration. it is a coordination of efforts

between treasury and the fed that we hadn't happen before in the last administration it was much more vocal, much more public in this administration it is much more public and yellen and powell in a sense coming together but i definitely see a shift and a change in this kind of policy and we'll see where that leads us >> all right, folks. thank you very much. thank you. >> thank you. >> thank you. coming up here on "power lunch," businesses in the state of georgia put in a difficult position, first threatenedwith boycotts not opposing the voting law and now from the other side for supposedly caving in to the woke crowd that's next on "power lunch. if you wake up thinking about the market and want to make the right moves fast...

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home depot, delta, coke, georgia-based and caught in a political fight. fist faced boycotts and now boycotts threatened from the other side for supposedly caving in seema mody joins us live from atlanta with more details. hi. >> reporter: now a last-minute decision to postpone that boycott from local religious leaders and would have taken aim companies like coca-cola, home depot. while georgia's voting law invited strong opposition, we have been speaking to a number

of residents here in atlanta some reject it and others that support it. >> i think you need to be able to show an i.d. to vote. you show an i.d. to get on an airplane so to me it is just logical. >> reporter: focus is now turned to the masters tournament, most celebrated sporting event. we heard from augusta national chairman who spoke out on the georgia law. >> i believe as does every one in our organization that the right to vote is fundamental in our democratic society no one should be disadvantaged in exercising that right. >> reporter: but ridley facing criticism not saying whether or not he supports the law after mlb pulled the all-star game from atlanta to denver back to you. >> thank you for that reporting. joining us now is georgia

secretary of state brad raffensperger. secretary, you just heard the report thank you for being here there's controversy on the top of mind for many people. >> thank you for having me i'm glad to clear up the misunderstandings. >> secretary, in addition to being an elected official you are a business owner and an engineer why what are you hearing from corporate leaders and business owners? are you worried about the impact on the business community long term >> georgia rolled out the welcome bat for corporations to locate and expand businesses in georgia probably back in the early '60s relocate from birmingham years ago with an unstable political environment in birmingham and excited to have such great corporations in georgia. obviously what i wish is every business owner before they make decisions would read the bill.

it is not what's been represented in the social media and also in the political narrative. >> secretary, in all fairness, i understand what you wish but what are you hearing i'm certain you're hearing from leaders in your position with the state and with your company. >> i'm a small business owner. most small business owners figure out how to make ends meet in the middle of a pandemic. it is tough year for many of us and what they are focused in on. as secretary of state i make sure that we have good laws and looked at sb 202 with a lot of good provisions and one is that we will go to driver's license as identification. it is an objective measure so yes people with your driver's license number and how you get your absentee ballot. >> many other states have similar requirements for either

in-person voting or getting an absentee ballot with a government i.d. and the counter argument is many, many, many more people in the minority, poor communities do not have driver's licenses. do not know how to or the transportation to get to a place where they can easily secure some sort of state-issued i.d. but you said you wanted to clear up the misunderstandings about this law and so my question to you will be this. what are those misunderstandings? how if at all do you think this law is out of the mainstream of other tates' voting laws >> right now we have photo i.d. for in-person voting now we will have photo i.d. using driver's licenses for absentee ballots to shore up confidence in the system we have now made it mandatory that every county in the entire

state will have minimum of 17 days of early voting up from 16 and then optional sunday voting. we have made it a law that counties need to make sure that the lines no longer than one hour so that's very important. and we have shortened the runoff period it will be down to one month for all overseas military ballots and that's very good, also. >> secretary, make sure that your line isn't an hour or longer that is subjective how do you make sure what are the penalties i think that's what people are asking questions about you also handle applications to start corporations and llcs. are you worried that the law leads to companies leaving georgia or not coming there? we have seen the culture of a community a business is in is

more and more important. are you worried that people will look at georgia as a town they don't want to start a business in or move a corporate headquarters to? >> new corporations filings are up in spite of the pandemic here in georgia we have seen no let-up in the past week due to this t controversy. >> are you worried long term >> i'm always concerned about a healthy business climate in georgia. this is an issue that's spun out of control and to look at the bill and read the bill, it's a very -- i don't want to say -- it hasn't really changed much and now switched from signature match to photo i.d. for absentee and increased early voting made sure that we can reduce the runoff period to one month and lines are short. we had an average of two-minute

wait time in the fall and counties continue that great progress that we have had. >> let me come back to my earlier question i like to get it specifically. do you view this law out of the mainstream or not in terms of what it requires voters to do to be able to vote? >> it's in the mainstream. there's 50 states and 50 states have different sections but look at the driver's license i.d. that's what they use in minnesota. this law was patterned after the minnesota law, a democrat state. this is used in red and blue states it is a nonpartisan, bipartisan measure. >> a couple of final questions if i don't have a driver's license what other kinds of photo i.d. might be acceptable >> we have other 14 other approved ways of identifying yourself and also you an identification from the state by free just like for in-person voting so it's very similar and

so we have not had an issue over 12 years with in-person voting photo i.d. >> an do i infer that business are like coca-cola the ceo there, like the ceo at delta air line that they have got it wrong and they should read the bill that they're not right to take the stance and major league baseball an enwhat they're doing is a misreading of the law and is unfair? >> if you -- our state and compare it with other states we have 19 days of early voting which is generous. we have automatic voter registration when you get the driver's license record registrations and when you look at georgia we have been leading on election reforms for several years. >> georgia secretary of state brad raffensperger we appreciate you being here and discussing this controversial topic thank you. >> thank you.

>> thank you. up next, new york state to legalize online sports gambling. we'll talk that and more in today's "power movers. it used to be that brainstorming required a whiteboard and squeaky markers, but when you have devices that let you collaborate in real time from anywhere, the future works better. microsoft surface devices with teams, orchestrated by cdw enable employees to stay productive when working together, with high-quality audio-visual features designed for natural collaboration. so your team always captures every detail. microsoft and it orchestration by cdw. people who get it.

welcome back to "power lunch. it is time for ""power movers. draftkings gave up the gains as the details around the language of the law and when the rules could change is vanlg. snapchat surging 6% and 15% in a week saying data from the platform shows a 6% increase in users last quarter. finally, dell technologies rising today after deutsche bank called it a top recovery idea for 2021 saying that i.t. spending will continue to recover. how a largest private real estate company in america is getting into bitcoin we'll talk to rick caruso and a guy with an amazing first name, tyler winklevoss about the new partnership right after this

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communities hit the hardest by the coronavirus. covid coordinator says that the health center program is essential to ensure equity in distribution. france's largest stadium has now been turned into a covid-19 vaccination site lines of people as you can see there snaked around waiting for a turn as the country seeks to catch up on vaccinations with just about 13% of the population having received at least 1 dose. how about this one a 104-year-old woman in colombia beaten covid for a second time doctors in colombia say that the woman first contracted and recovered from the virus last june and then back in february after being vaccinated she was diagnosed for a second time and hospitalized carmen hernandez received cheers from hospital staff as she was discharged that is a strong woman there. >> that is resist yens >> yes, it is.

president biden delivering the remarks on the american jobs plan and let's get to kayla tausche in washington for the details. >> reporter: in a roughly 20-minute speech president biden defended the breadth of the more than $2 trillion in the american jobs plan saying it is not national that infrastructure only comprises highways and bridges and used this definition of what he sees as infrastructure saying infrastructure is what the works class needs to build a better life it is about building the needs of a nation and willing to meet moneys halfway if they're willing to negotiate and also willing to be flexible on the corporate tax rate and plans to raise to $28% to 21% when asked by kristen welker of

nbc news whether a potential outcome where he would need to pass this package along party lines like with the covid stimulus package to have failed on the promise to deliver bipartisanship president biden offered this interesting anecdote saying he would have been willing to compromise with republicans on the american rescue plan but when they proposed a package of just $600 billion and refused to move an inch that is when he decided to go it alone and move forward with the $1.9 trillion plan as is and would have been prepared to compromise but they didn't move an inch tyler? >> thank you very much. the cryptocurrency market hitting $2r billion in total value this year and bitcoin rallying more than 90% this year alone. and now one of the largest privately held real estate companies in the u.s. is betting -- getting in on the

craze with a significant investment in bitcoin through a partnership with the crypto exchange gemini. let's bring in rick caruso and ge gemini ceo and co-founder tyler winklevoss rick, what is the appeal of not only an investment in bitcoin, but also, offering to be paid rent from commercial and residential tenants in bitcoin >> hello, tyler and tyler. listen. >> hey, rick. >> this is an exciting annoya announcement to make we believe that cryptocurrency is here to stay and bitcoin is right for us and allocated a percent to the capital markets into bitcoin and we use gemini as a platform in order to be able to execute that what's equally exciting is applications that gemini are doing, winklevosses are doing

that will literally be a game changer for consumers and i always benefit from partnering with the most thought forward people and cameron and tyler are ahead of the curve on this so our consumers are going to benefit mightily from this one more thing when this pandemic is over and it will be over consumers want to reengage and a sense of community and have enrichment in the lives but some behaviors are going to change and the companies that win their loyalty will be the companies that anticipate those changes and meet the consumer where they are. and that's what gemini is helping us do and we are very excited about it. >> tyler, it is tyler and welcome. >> that's right. >> rick refers to game changing things to change the whole retail landscape and experience. what's he talking about? >> i think that cryptocurrency

will have to be part of a 21st century experience, whether consumers shop and earn crypto back in rewards with the credit card or spend cryptocurrency to buy things or even nfts to commemorate moments or provenance of goods and part of any retail and real estate experience. >> tyler, this is frank. i don't know you my name's not tyler but i feel like i know you from the movie how do you deal with the volatility of bitcoin? familiar with real estate and retail are you turning that into cash how do you deal with the potential of $1,000 one day is 500 the next day >> part is why we have a relationship with gemini they will help advise us on that

and the market is unpredictable, no different than right now but bitcoin had a long run and we believe in it and spent a lot of time with gemini and the teams thinking about this but i want to add on the consumer experience side that tyler talked about one example, there are billions and billions of dollars of reward point that is none of us ever get back, travel or whatever the case is and we have a loyalty program and our loyal program and what i envision is to earn coin, a cryptocurrency you could use that on the block chain, spend at the properties, check into a resort. when you live with us, pay the rent we create an ecosystem because shopping is a commodity. and the only way to create value and loyalty is to overlay an experience on it and reduce friction and part of the

reinvention going through with gemini and been so forward thinking with the team it is not about the next year or five years but looking forward to the next decade. >> a thing that has alluded me or i have a hard time getting my head around is if i want to use the cryptocurrency to buy something or to redeem a reward or something like that, mighten there be -- it's an asset. mighten there be a tax linty associated with that how will you as a platform report that tax obligation to me at the end of the year if i bought -- gotten paid in bointd at 50,000 and spending it at 80,000, there's a tax liability there, right >> yeah. so we support and issue stable coin like a dollar it is called the gemini dollar so you don't have to spend

necessarily bitcoin. you can spend dollars on the block chain. gemini has extensive reporting for transactions that users download into a pdf and use for tax reporting so it's easy to follow for consumers and users to follow the tax situations. >> that's interesting. because you need a solution to that quick final question, rick the governor has said june 15, full reopening of california does it go far enough? is it soon enough? >> i don't know if it's soon enough probably not a lot of small businesses are still impacted businesses bounce back very strongly and happy to see it and i think people are still being safe and we should continue to be safe but we got to get out there and start enjoying life again. >> thank you >> thank you. >> it is interesting good to see you again. >> thank you very much for your

time. >> thank you for having us. >> thank you tyler and tyler. >> yep >> that's like a drinking game to me. >> anybody watching? 17 shots. too close to the sun a big upgrade and solar stocks crushed this year. our traders will discuss next.

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and i'd ask them, "why is it different? you know, you didn't charge me this much last time." no one could ever answer me. but now with goodrx you can look on your phone and it'll tell you exactly how much it's going to be. and when i get to the pharmacy they charge me exactly what it says on that app. and it's so much cheaper than that prescription drug plan. it's all about saving money with me. i like watching my dollars. welcome back to "power lunch. it's a cloudy day fora solar stock. sunrun falling this as other solar stocks cool

off with the reopening trade heating up invesco down nearly 30% from the january highs. katie stockton and another guest is the team today. a 50% increase of sunrun of right now. what is your take? >> the solar stocks have been under pressure along with growth stocks more broadly speaking we actually had a short recommendation out on 'em phase of the tan etf but we have since recommended covering that position the reason being we have an intermediate term oversold reading having returned with the correction we saw. and yet it did not reverse the long term up trend and seeing the stabilization on the back of that intermediate term oversold reading nicely above the 200-day

moving average and close to support in mid-80s for tan and i think a nice staging ground for a potential relief rally the eft up nearly 500% off that covid vote from last year so retracement like this is healthy in our opinion and something that can contribute to the long term up trend. >> quinn, that etf down 30% since january but up over 200% for the year >> frank, we are in some of the solars and it is not all that hot. no pun intended but i like the analyst call, a bold call. we don't own the specific name it's easy to fall asleep on these names with un underperformance but our first in the group is first solar and viewed like a utility stock. the company has tangible book value of $52 a share

almost no debt and right now trading about 25 times forward growing 30% so i think there's value to be found here we need traders, a momentum that's true for growth as casey said true for solar but don't fall. >> sleep on these names and will shine again. >> all right thank you for joining me for more head to the web side or follow us on twitter. up next, taking stock with teens. how the zoomers -- supposed to look around here now >> we are never here together. my name is not tyler. >> how do teens spend the free time and now the money here's a hint. it is shopping and tv. when "power lunch" returns >> and now the latest from trading nation.cnbc.com and a word from our sponsor.

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welcome back fien spending might be rising again as gen z consumer clamor to dress up, get out and socialize. i think we all are piper sandler today releasing its report, taking stock with teens, highlighting the key trend and which companies are benefiting lauren thomas is here to help us break it all down. >> thanks for having me, frank. >> of course first topic, what are the top apparel brand with consumers under 23 years old, also known as gen z >> sure. i think to start and set the stage, i mean we are all really looking for green chutes teens are giving us tines of optimism and reasons to be optimistic about this recovery, particularly within the apparel

space. females are really driving the rebound here, female teens their wallet share that they devote toward clothing is the highest it has been since 2013, again according to this piper sandler survey among their favorites, nike remains the top choice in both the clothing sector and for footwear nike is clearly a dominant player here. i think it hits on some of the trend that we have seen during the pandemic this trend and move toward add leisure wear, loungewear, sneakers, more comfortable clothing all the time nike is still dominant within that space american eagle was second on list lululemon moved up to the fourth spot this was its highest position on this list. urban outfitters and ambercrombie and fitch's hollister also on the list two interesting things i want to call out here. one is this on line chinese

fashion marketplace called sheen. it ranksed number eight on the list, the first time it has ever cracked the top ten. that's largely driven to this rise of tiktok influencers and whatnot really seeing a surge of popularity in sheen. and consignment and thrift stores ranked number ten, up from 23 just a year ago. a huge increase with the consignment trends. >> nike is my favorite brand, too, but i don't understand the consign men and thrift trend is there any reason younger people are gravitating towards clothing someone else has worn >> secondhand mark places, poshmark, threat up, both just recently went public the real real is public as well. another platform called d pop are popular among younger consumers. gen z, when they are asked what they care about, they often answer sustainability. that ranks high on the list.

putt idea of not cloeg as much apparel away each year, 47% of teens say they have bought something on a secondhand marketplace. 55% of teens say they have sold something. it is another way to make cash, maybe they don't have a job. really with the growth of these platforms on line we are really seeing a transition from teens into that space as well. >> the sneaker retail market, that's definitely hot. get that part. >> oh, yeah. >> how else are teens spending their time besides shopping? >> so, if they are not on amazon, if they are not on sheen, teens are of course thesh on social media, teens are spend being 12 hours per week on average on social media apps snap chat is still the most popular among teens. instagram is up there as well. tiktok, one to watch they actually stole some market share in this survey from both snap kmat and instagram this

time around. and they are watching videos as well about 37% of the time teens are spending on line, that's netflix. netflix is take being 37% of that youtube as well. cable tv fell on the list. so it appears that more teens are either cutting the cord or their parents are. >> lauren thomas from cnbc.com, we appreciate it thank you very much. tie her letter. >> reporter: more "power lunch" ahead. don't forget you can always watch and listen to us live on the go, on the app, tiktok, wel rht, snap -- 'lbeig back. >> i might be a gen zer, i like nike, i spend a lot of time on netflix. and in an emergency, they need a network that puts them first. that connects them to technology, to each other, and to other agencies. that's why at&t built firstnet with and for first responders the emergency response network authorized by congress. firstnet.

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the market is kind of a slow moving stream today. even on a day like this one, there are all-time highs and they are really across the board. here's the list of all-time highs right now, technology, google, food, mcdonald's, black rock, pharma, medtronic. stanny touchy, black and decker, and it really shows you the breadth of this upward draft. >> poulte group and waste management when you buy new homes you have got to throw stuff out makes sense. >> interesting conversation on georgia. >> what was your take on that? one thing the governor and the secretary of state both have not said was there was not fraud a lot of questions for the motivation for the law.

>> i think the motivation was the georgia gop lost a couple of close races. our guest seemed to down play as far as i could tell and think it was an overreaction on the part of businesses to be so critical of the new georgia law interesting point of view. an anyhow, we leave it there. much more to say, thanks for watching "power lunch. frank thank you for joining us. >> great to be with you and the other tyler. >> can't have enough tylers. "closing bell" starts right now. >> gents thanks. welcome to "closing bell." i'm wilfred frost along with sara eisen stocks trading in a very tight range again today with the dow and s&p 500 still near record highs as we head into the final hour of trade. let's look at what's driving the action minutes show fed officials expect it will be some time before it starts tightening policy jp morgan's ceo jamie dimon out with his share holer