good after knoop noon, everybody, welcome to "power lunch. we start with a big week for the dow. the best in three months the nasdaq higher, not up as much as the dow. we'll talk to an analyst who is cautious on chips. >> fading the rally. and travel demand has come back so fast american airlines can't keep up. it doesn't have enough workers >> worker shortage everywhere. big-name teams, a lot of them

out of the nba playoffs. it's phoenix, atlanta, milwaukee and los angeles. not the lakers the clippers this time we'll talk with the owner of the phoenix suns about his team's dynamic run and much more as "power lunch" starts right now but we begin with the markets, because, as tyler mentioned, we are seeing a pretty strong bounceback after last week's sell-off the dow having its best day in months the gain right now all s&p sectors are higher united health, home depot and goldman sachs contributing to the gain and outperformance. the generals up 2% cboe, charles schwab and silicon valley among the biggest gainers. a big boost as transocean passed halliburton. and we're also seeing a big move in bonds let's go over to dom chu for

that the ten-year treasury note deal was the most searched ticker on cnbc.com on friday and for good reason. those rates have been volatile and recently falling earlier today the benchmark on 1.35%, the lowest level since february 24th, and the difference between longer and shorter-term rates, between the two-year and ten-year note deals bouncing modestly today. it's still in a downward trajectory since the end of march that has helped contribute to a severe underperformance as of late in bank stocks it will be a bigger week on a relative basis for what some call the belly of the yield curve, meaning those treasury note maturities around the five to seven-year length, auctioning off around $60 billion worth on tuesday, and $62 billion of seven-year notes on thursday so a decent part of that belly of the curve coming up for auction this week. i'll send things back over to you.

>> people are also wondering if this can persist the way that it has been is it one thing to react to the fed and maybe inflation isn't going to be as hot as we previously thought and how a ten-year could be down to 135. >> i've been talking to a number of traders this notion that you could see even with the hawkish tilt and some of the chatter from fed officials that interest rates could be coming down and them of them told me it's a positioning issue. so many folks were betting so much on a steepening of the yield curve. a longer end bond sell-off raising rates on that end and things getting stable on the other side when that trade unwound people were covering the shorts, buying up longer-term debt, forcing yields lower there's a question right now about what the staying power is for this current interest rate trajectory especially if you think inflation will pick up >> dom, thank you very much.

morningstar research announcing the 2021 winners of their annual awards for investing excellence today right here on "power lunch." these awards recognize portfolio managers, asset management firms, and up-and-coming managers in three separate categories here are the names that came out on top the winner for exemplary stewardship dodge and cox. the morningstar winner for rising talent is pimco and the 2021 morningstar winner for outstanding portfolio manager is joel tillinghast he runs fidelity's low priced stock fund up 16% year to date and up more than 30% over the past year and joel joins us now. joel, welcome. nice to have you with us give us an example of the kinds of stocks you buy and what the criteria are for inclusion in the low-price portfolio.

>> businesses that i understand well have honest, capable management who were taking a long view. i wanted resilient adaptable businesses all of that selling for less than their fair value. >> so give me a sense -- by the way, congratulations on the award. it's really a great recognition of what you've done and done over a long period of time give me an example if i were to say -- if you were to say here is a classic joel tillinghast stock, may have been in your portfolio now or one that treated you well >> i tend to stick with my winners. so i have several. maybe the all-time best is monster energy >> monster beverage? >> yes, monster beverage

over 20 years the stock is up over 1,000 fold. our purchase cost is, i think, eight pennies. and it started as a fruit juice company, sort of a juice bar for the stars. and then i met them at a tech conference, actually, and they were serving up their energy drink and really like the fruit drinks which i chose what i know now they are coming into hard seltzer. >> as is everybody so you found out about them how? you just ran into them at a tech conference and you were sampling the befverage and said i like i so i'll buy it that's great

>> i met them and it was like ten times earnings they were growing. i thought they could take market share from snapple which was in disarray but i like they were experimental and innovative and would try new things >> very cool >> joel, it's kelly. if i could ask, in some ways it reminds me of what's going on with stocks today with the retail army who has looked at names like hertz last year and resurrected them you not only have identified companies early on but you've held on to them. do you have any advice for people who might be looking at some of the stocks they picked up and trying to figure out when to sell? >> i've seen people who were great traders, but i am not one of them and so i can't give them

much trading advice. do your research, please, please, please fidelity has some awesome research and if you're more into the fast growing thing we have some cool blogs. reddit has some cool blogs please do some research. >> let me ask you one final question, you said when you find a stock that you like and you believe in it you tend to hold on to it how long do you hold your average stock or what is your annual turnover rate >> the turnover is in the teens. >> that implies like a six-year holding period >> yep >> well, that sounds fantastic joel, you're not related to the famed golf course architect, are you? >> yeah, a distant relation.

there are not many tillinghasts. >> there are a lot of golf courses around here. i'm sure dom chu knows all of them congratulations on your recognition today and continued good luck to you >> fascinating what an awesome story. coming up, the pc food chain. citi says its checks indicates it may be at risk. plus, american airlines forced to cancel flights not because of too little demand but too much of it. it doesn't have the workers to keep up. and a look at the dow just off session highs up 577 we're back in a moment

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welcome back let's get you a call on semis. where citi is lowering estimates and price target on intel from 65 to $60, the reason is pc and demand weakness. shares of intel are down double digits over the past three months struggles are well documented. the semi etf is still in the green. is this a call on intel a warning sign or not for the rest of the sector? christopher danely joins us now. weak pc demand sounds like it could be more than an intel issue.

>> i wish i knew it was the pc specific problem or all of the above and a harbinger of things to come. we've been picking up negative data points out of taiwan for the last couple of months. and last week we found out this appears to be spreading to the u.s., which is, you know, fairly common in semis. as it stands right now i would say not a lot of alarm bells on poor demand for the space and the ending of the cycle. we felt that it was just our responsibility to come out and put this out and talk about that possibility. and then, also, it's undercut numbers on intel, as everybody knows they're very leveraged to the pc industry. >> sure. people have to know that some kind of hangover is coming after how strong demand was last year, right? >> exactly and so we had 10% growth in pcs last year. we're on track for 10% growth this year. and for the previous five or six years it was essentially nothing. the drivers of that were

obvious, right, so it was school from home, work from home. that, thank goodness, appears to be ending. you have to believe that at some point this pc strength will end and we'll get at least a couple of quarters if not a year of some poor demand out of the pc space. >> and you're saying that's risk for amd and micron in particular >> yes remember, we did not cut numbers on amd because they're gaining share versus intel we're unsure how much of an effect it has on them. as far as micron goes, the one difference between micron's product, cpus is like what intel makes were in shortage last year, so good evidence there's an inventory build tons of dram floating around last year. we're not sure the extent of the inventory build there. it should impact the space less than micro processors like what intel makes. >> and for nvidia, over the past month in particular, has been an outperformer would this not apply

>> i don't cover nvidia so i apologize but i'm not really allowed to answer that with restrictions here. i would have to refer to you the other analysts >> the different segmentation of the industry a final word on this, any reason you can imagine that softness in pc demand post pandemic should be a warning sign for the broader market >> great question. i don't know about the broader market but for semis the reason we're worried and have been writing about this is it's hard to believe that pcs are still the single largest end market for semiconductors 33% are sold into pcs and that's why we're paying such close attention and publishing on it right now. >> the supply chain is still something like what it once was. christopher danely with a reminder we're seeing weakness there. thank you for joining us >> anytime have a good one. coming up the nba down to its final four and there are some new kids on the block this year some teams that haven't been around the finals for a long

time including the phoenix suns looking for their first title in franchise history. i think you could say that about atlanta as well as the clippers. coming up we'll talk to the owner of the sons. he paid $400 million for them in 2004 now his team is valued at nearly $2 billion >> not too shabby. and the growth etf closing in on an all-time high its longest winning streak since august is a bigger breakout ahead take a look at the top nasdaq performers we're back in a moment obsession has many names. this is ours. the lexus is. all in on the sport sedan. lease the 2021 is 300 for

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hi, everybody. welcome back to "power lunch." let's take a look at the markets. the dow is up more than 500 points the rally has been picking up steam as we've headed throughout the session today. the nasdaq, the laggard, still up about 113 points. all sectors are higher, energy, financials up. in the bond market the ten-year yield has been going the other way. helping to support growth stocks in particular. the yield about 1.48%. all right. time now for our power movers

kicking things off with door as much dash. the food delivery company has super sized ambitions in the supermarket business now doordash partnering with albertsons within an hour, yes, through the dash pass membership program. doordash up 5% glad i slowed down >> i don't think your son will be ordering a lot of groceries is my guess. >> no. it's jersey mike's, a lot of that >> china's crackdown on bitcoin, the chip makers nvidia and amd using bitcoin mining, coin base even down about 3% >> and materials catching a bit today, one of the best performing sectors cf industry gains of nearly 7% as you see right there eastman chemical, the mosaic

company, west rock and dow incorporated, that's not the dow jones incorporated, out there among the leaders. look at the dow up 1.73% >> american airlines is down 2% in the past month, though. 15% off its 52-week high they are canceling hundreds of flights saying they need to trim their schedule through mid-july. it's not a demand issue. it's a worker shortage leslie josephs is covering the story for us she joins us now leslie, why is it america in particular that can't seem to get workers? >> so what they have done is they've packed their schedule fuller than some competitors like delta and united. and what they're finding there are a shortage of workers. they're in the middle of training pilots. that might have been idled during the pandemic. i mean, remember, think back to a year ago we were retiring planes airlines were telling employees to please, please, please, take an early retirement or a buyout

package. so their focus has switched entirely that's why they're seeing this strain add to that a little bit of seasonal weather and this is the recipe for what we're seeing right now. >> did it catch them off guard in the sense that they were planning on workers showing up who somehow didn't or was there more attrition than they realized, or did something change or was it actually poor planning they added more flights and somehow just couldn't get the staffers to show up for them >> i think one of the things that has caught many airlines off guard is how quickly demand has bounced back we had more than 2 million people pass through checkpoints over the week. that's double where we were two months ago so the vaccine efforts have ramped up quickly attractions are opening up quickly, everything from restaurants to theme parks, travel restrictions are lifting. and then some of the airlines like delta and united had been more conservative with their schedules and they didn't pack them as tightly as american did.

so what american is doing now, they're cutting about 1% from their schedule through mid-july, talking around 1,000 flights here not a ton. but what they want to avoid is that customers get to the airport and their flight is suddenly canceled because they don't have a crew available or something along those lines. i'm hearing from pilots, the pilot union, is saying, hey, give us overtile and allow us to change trips they say there's a technology issue. some outdated technology behind that it would be more helpful if they could switch their schedules >> you don't want canceled flights if you're a traveler is there any idea, leslie, as to how long this situation may persist for them >> well, as of now they are going to the middle of july. obviously this is a peak demand period we have people that were cooped up for more than a year and now everyone is stampeding back to the airport to get out of their homes and to get away from other

people and take that much-needed vacation they need to see how things pan out. they don't want a repeat of previous years where there were operational strains. and they have had growing pains during the pandemic, during the recovery period. this happened with delta and some shortage of pilots. they are racing to get back to the staffing levels that are needed for summer that is much more robust than previously thought. >> how is the balance sheet looking for american this has been one of the stats because of the high debt it took on to get through the pandemic >> well, all u.s. airlines have added a tremendous amount of debt and that's going to be weighing on earnings for the next several years. american, of course, has more debt than its competitors and that's something they're going to have to look at

they have been able to get through this raising more money with frequent flier programs to other assets so they say that they're on the right track, but they do have this enormous debt load they will have to work through. >> i'm sure canceling even a few flights probably makes that sting. leslie, thanks so much for more on travel troubles go to cnbc.com. now over to dom chu for our news update. kelly, tyler, i am dominic chu. cleanup and recovery efforts are under way after tornadoes ripped through several communities south of chicago at least five were injured during the overnight storms while dozens more have been displaced by the extensive damage as you see there from torn roofs, fallen trees and smashed windows. wildfires erupting in california colorado, arizona and oregon as record high temperatures take hold of that region. 7 million people across six

states are under fire advisories right now. dozens of belarusian officials hit for their involvement in last month's arrest of an opposition journalist the country forcibly diverted a ryanair line to arrest the journalist on his way to lithuania. history will be made at this year's games in tokyo. new zealand weightlifter hubbard will be the first ever transgender olympian meeting all eligibility criteria put in place by the international olympic committee for transgender athletes a big story there. history in the making. tyler, kelly, back over to you >> it will be fascinating to see what happens at the olympics as they restrict the participation of fans. ahead on "power lunch," energy stocks leading the s&p 500. we're going to check on oil as it closes for trading and the

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welcome back the oil market is closing for the day. what a session for energy. let's get the latest a big session for energy stocks here and oil is once again rising after posting four straight positive weeks. wti crude futures breaking above the $73 mark for the first time since october of 2018, up 2.8% at $73 for the july contract which is set to roll tomorrow. so we are seeing some thin trading volume the august contract also posting a strong session finishing here about 2.5% higher. advancing about 1.9% to $74.88 now the tsa screened 2.1 million passengers, which is a pandemic-era high. some are saying the return to levels is coming faster than previously expected while supply remains tight. at a certain point higher prices

will have the opposite effect and curtail demand something to watch here longer term the energy sector is responding. the group is up more than 4% halliburton and marathon oil are leading the way. >> pippa, bank of america is calling for this $100 oil. it's one thing when traders are speculating. it's another thing when you get the big names saying this really could be around the corner $100 oil that would not be -- gasoline prices, i would have to imagine, close to $5 in a lot of places >> yeah, i shudder to think about the impact on filling up at the pump. but bank of america is not the first one to say $100 oil is a possibility. but they are putting a specific time frame on it they say brent could hit that $100 level, it's a factor of demand rising and supply staying constraints. consumers are hitting the road, driving, flying. they want to take that trip and then all the while companies are

still reining in their spending and not opening up the pumps at the rate we had previously seen and that will shift the market that 100 level for brent next summer but ultimately u.s. producers will respond and put downward pressure on oil so that will be short-lived and they say trading around $65 per barrel come 2023. >> all right then. it's going to be quite a journey if that's what gets us there pippa, thanks so much. the sun is shining bright again in arizona as the phoenix suns continue their remarkable turnaround season. the suns beating the l.a. clippers yesterday to take game one of their first appearance in the western conference finals since 2010 it's their fourth conference finals since robert sarver bought the team. the team is estimated to be four times that the owner of the phoenix suns, welcome, and congratulations on the suns great run fantastic for phoenix.

i was a suns fan back in the '70s when they had alvin adams, paul westphal. they played some great, memorable finals against the celtics and dave cowan and havlicek it's been a long time. congratulations. >> yeah, thank you i was a suns fan back then, too. i remember the trip to the finals and alvin winning rookie of the year. he still works for the organization and manages our arena. >> that's cool let's talk about the nba i had the pleasure to go to the nets/bucks game saturday night it was an epic game. it was a war the playoffs are just different. and one of the worries this year has been that so many of the key players have had injuries. the nets certainly had the lakers certainly did your team was without chris paul do you think the back-to-back seasons contributed to all of

these injuries now, chris paul is out for health protocol. we'll get to that in just a moment >> yeah, i mean, i guess i'll give you a contrarian view to that there was less time off. then during last season there was quite a bit of time off. if you look at the scheduling this year we only added one game a month. because we played back-to-backs we reduced travel by 15% >> so in truth the strain on the bodies maybe wasn't as high as we might be led to believe >> yeah, i don't think so, and the number of injuries wasn't higher than what we've seen over the previous years the names of some of the players that have had injuries during this playoff series has been unfortunate and those are some of the names the fans want to watch. >> it certainly has been what can you tell us about chris paul i know that there are protocols and privacy issues involved

here do you expect him to play in the next game of the series or later in this series >> yeah. i expect them to play the series but i don't know exactly when. that's up in the air at this point. but i do know he's been actively engaged with our players fortunately during the season helped us set a foundation of winning culture and next man up. and we have a number of players that are taking advantage of that opportunity and filled in really good last night to help our team to a victory. >> $44 million contract, is that going to be worth the price, robert i'm curious how you make a decision like that for keeping someone like chris paul. >> that's not a hard decision. >> it's good to be in a position you can say that's not a hard decision >> i know those numbers are kind of hard to fathom, you know, for the general public, but, for me, he's been worth every penny of it >> let me ask you a related

question as i read you bought the team in 2004 for a then record $401 million. did you buy it out of loyalty and passion, kind of thinking i don't care if this is worth it or not, or did you think it was an undervalued asset and given how much the team is worth now, how long do you hang on to it >> that's a good question. i thought long and hard about it i've been a passionate basketball fan and growing up in arizona a passionate seeks suns fan. i say we do two things with our life, two things we want to do and things we have to do i've been things i should have done for a long period of time thought i wanted to try something i really wanted to do. ended up buying the franchise. it happened to be for sale at an opportune time for me. and i had a long conversation with my wife about it. she just said, hey, don't lose all our money.

and make sure we stay married. >> i said i can commit to both >> happy outcomes all around let's talk a little bit about -- there are two questions i want to ask you one is about fan behavior. your team was involved in sort of -- not to say your team was -- but there was some fan misbehavior at one of the games in the denver series there have been incidents of popcorn being poured on russ westbrook of the washington wizards and other instances, i believe, in new york city. trey young of the hawks was spat upon how can you control that and get better behavior in the stands? and, oh, by the way, talking to the fans whose language is troublesome for kids or parents of kids. >> yeah, i agree with you. one of the beauties about our game is that it's played up and close to the fans. our players don't have pads on they don't have helmets.

they don't have facemasks. they're right there and the fans are real close to the players. and that's one of the beauties of going to an nba basketball game and i would hope that our fans think about that before they do things they shouldn't be doing we don't condone any violence amongst our fans in our arena. we want them to be respectful to fellow fans and players. anytime you see a situation like that, it's unfortunate >> robert, i want to ask you, because you are involved with so much you own this team. you own a soccer team in spain you have a real estate company you have a really successful bank do you spend your time on all of those things every day do you have seasons in your life i think about your attention and focus on the suns right now, the questions that we're asking you, but this is one of many, many things you're doing all at a very high level. how do you sort of move throughout your day? >> well, i've been fortunate i try to surround myself with really good people

our team at the bank, we've worked together for a very long time the same with our real estate company. the fellow running that now, he and i went to high school and college together came to work with me in 1984 a lot of good people i trust and i try to pick the areas i can make the most impact and that's kind of how i allocate my time >> and to go back to what i was asking earlier about selling the team, i'm curious whether it's the team or the bank are there personal catalysts for you? are there financial catalysts for you? is it simply how much energy you have to do everything? i can understand the appeal of wanting to be involved in so many different things but at what point do you say, okay, it's time to -- you clearly know when to buy. how do you know when to sell >> well, it depends on the assets i think in our real estate business time is extremely important. when you have a business like

the phoenix suns and you're part of the nba, the growth potential is still tremendous. i firmly believe my investment in our bank and in the phoenix suns is one of the best investments i can make going forward. at the end of the day, it's really not a lot about the money. i don't think most sports owners get into the business for pure financial reasons but out of passion and pleasure i'm still very passionate about the businesses and i don't see any reason to make changes here. >> let's talk about the real estate business and what you're seeing there sort of sector by sector the pandemic affected certain areas, residential, office, commercial, what are you seeing? >> good question asset prices across the board have recovered and are pretty high right now

the residential market has been booming and i see major price increases and pressure on costs of housing and rental pressure and i see prices of gasoline and wages and everything going up. i'm in the camp that i think rates will be going up probably sooner than maybe most people think. commercial real estate has been pretty strong, too a lot of talk in different sectors. it has transformed itself into more lifestyle type retail with restaurants and entertainment. the industrial mark has been super strong and i know some of how many employees will be working remotely and i think we'll see a little bit of an impact on that. most of the ceos think in order

to build a successful company with a strong culture have to be in the office. >> i was speaking with an associate over the weekend, and he made the same point billing culture with a sense of belonging. robert, continued good luck to you. you have a compelling young people led by one of the great all-time great point guards. a good coach in monty williams, executive year in the nba. congratulations on your progress, and we'll be watching. thank you. >> thanks. i appreciate the support and thanks for having me on today. >> hope to see you again all right. >> glad he could make the time he's a busy guy. >> you point out, those people have other businesses that they're doing. >> which require, i would imagine, a lot of attention. >> i don't have that bandwidth

investors shake off inflation fears. you see bond yields go the other way right now. you see the dow up 561 points. that growth etf hitting an all-time high. is this rotation here to stay or not? uno, dos, tres, cuatro! [sfx]: typing [music starts] [sfx]: happy screaming [music ends]

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welcome back to "power lunch. growth and tech stocks making a comeback in june, some of the largest stocks in the nasdaq 100, adobe, nvidia, paypal up. is this the beginning of a bigger breakout? gentlemen, great to see you. is this a meaningful rebound in technologies is this something investors should get behind? >> we think so we're still playing by bull market rules it does seem that technology and

nasdaq is set up to see better relative returns it's just suffered one of its deepest relative setbacks since 2016 on an equal weighted basis the nasdaq 100 retraced 50% of its returns since 201838% of its returns since 2016, and is coming off its most oversold condition since 2016 so the technical setup is there. the larger cap names are just starting to break higher apple, amazon, really flat over the last ten months and adobe with a sign of relative strength would be a name to buy >> whether it's software, hardware, social media, where would you be putting money to work in technology >> i think to complement what he's saying on the fundamental sides they are quite strong.

the sell-off has been on where is the pace and breadth and you have a new risk with the appointment starting to rattle the cage on the potential breakup of big tech stocks are you short term or long term? long term the fundamentals are set up strongly for the tech sector in general. in the short term with the amount of cash on the sidelines a sell-off in tech stocks should be viewed as a buying opportunity. a buy that's hit the mentality for the long-term investor today. >> john and ari, thank you for joining me head to our website or follow us on twitter for more "trading nation." shares of lordstown motor has lost half their value as

many people egged on by short sellers have begun to doubt the company's claims and lordstown hoping to convince people. we will have the details of the open house

welcome back to "power lunch. we are watching big moves in the covid-19 vaccine arena, especially for moderna, as it ramps up the manufacturing capability later this year to supply more countries and prepare for booster shots. biontech also high, that it's a substantially higher

effectiveness than the china vaccine tiler, kelly, the vaccine front is big back over to you. lordstown motors hopping to prove itself to investors today. phil lebeau joins you us with the details. >> tyler, they are holding what they call lordstown week or the beginning of it in northeastern ohio our affiliate there is on a tour that they are giving of this plant. it was up for a few minutes, then went to color bars. we'll see what we'll see from them they are ostensibly going to show them some production on the endirge pickup truck, and the endurance pickup truck is the key focus. the production is supposed to start by late september. last week they said we have firm orders and two days later said, no, we don't have firm orders

yesterday, capital is needed to not only begin production, but ramp up production after that. if you take a look at shares of lordstown this year, keep in mind that a number of the executives sold sizable portions of their shares in lordstown motors back in february, and as that report came out over the last couple days, it once again had people saying how solid of an investment is this if some of the executives were selling stock, a sizable portion of their holdings back in february for the first earnings report. again, this is a company that does not have a ceo. the executive chairman was the independent director from the board of directors who now is a executive chairman of the company and the question will become who will become ceo they don't have a lot of times to make a decision. >> phil, we have also seen insider sales as tesla, a key executive leaving and selling shares on the way out the door >> jerome guillen left at the

beginning of june. we reached out through different people it if he had a comment, but we know he's sold about $274 million worth of his tesla shares shortly after leaving the company. there's nothing illegal about that he's entitled to sell them or hold on to them. but he did sell them starting on june 10th. >> phil, thank you very much phil lebeau. let's check the markets now. dow is up about 550 points up next, did the pandemic provide americans with a much-needed financial reset? we're back in a moment that building you're trying to buy, you should ten-x it. ten-x is the world's largest online commercial real estate exchange. and it's fast.

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welcome back, everybody. the pandemic may have given some people the motivation and the opportunity to get themselves in better financial shape dom chu has the surprising story for us >> wonderful silver linings is how focused it made americans when it comes to matters of personal financial it'selatively easier to be disciplined when you're dealing with the necessity of budgeting around possibly less income and more uncertainty about the future when you're forced to be more budget-conscious, it's not the most pleasant of experiences northwestern mutual puts out a survey of year on america's financial health the late it's data shows that 32% of americans have gotten

more disciplined about money among those people, 95% expected to stay that way there are new did you found personality paradimes coming into play. the most common habit is cut back on living costs and expenses and spending. 45% of people have done that 34% said they paid down debt or deleveraged. about a third say they've begun investing more that's going to be the big takeaway we talk with the k-shaped recovery is for more people on the top part of the k, maybe that narrows in the future. >> i spent less, because i had less to spend on i wasn't going out the first time a couple months ago where i signed for a check in a restaurant, i'm like, boy, when was t last time i did this my friends was before the first time you ever paid for somebody's check, but the truth is, there wasn't as much to

spend on. >> here's the thing. we spent a bit more on things, but things were so easy to get i would say that's something we did. >> i think people had the time there was millennial looking into life insurance, because there was a moment of what would i do we talked about wills and such dom, thanks. we appreciate it. thanks for watching "power lunch," everything "closing bell" starts right now. >> see you tomorrow. welcome to "closing bell." the market is heating up on the first day of trading for summer. let's look at -- every sector in the green with energy, industrials and financials among the biggest winners. tech is a relative underperformer nasdaq is still firmly in