isn't as high as that 28% president biden originally supported because of moderates like joe manchin, maybe they have to use some of the other proposals to make up the revenue. >> very interesting. that's a good framework, i think, for watching these negotiations play out. ylan, thank you. that does it for "the exchange." stay right there "power lunch" begins right now kelly, thank you very much welcome, everybody i'm tyler mathison here is what's coming up on today's edition of "power lunch. a busy day for apple a judge rules against the company on a key part of the epic games lawsuit making big moves in the car business as well is apple, spending a lot of money on apple tv. they're expecting the iphone 13 announcement next week and some stock picking advice plus, the biden administration making a big push behind solar energy we will talk to an analyst who

is initiating on two big players in the solar business giving one a buy rating and a big upside calling the other one a hold and stocks losing their early pop lower again today. should you be concerned about the market's losing streak i'm much more concerned about the yankees' losing streak >> but that was a good football game last night. >> it sure was welcome to "power lunch. i'm kelly evans. stocks are lower the dow and s&p headed for five-day losing streaks, the longest down streak. two down for the s&p, the nasdaq fighting into the green by two points at the open it looked like today might be different the gains did quickly evaporate. you can see the interday chart as we slip into the red. one stock bucking the trend is affirm strong revenue growth. the stock is up 36% today and 91%, tyler, over the past month.

>> all right, kelly. thank you. shares of apple falling today after a federal judge in california ruled that the company violated the state's unfair competition law the court issuing an injunction forcing apple to allow developers to offer their own payment roots within their app apple down about 2.5%. the news comes in what's already been a headline heavy week for apple. the information reporting it is looking to spend $500 million marketing apple tv plus, that is apple would spend that amount of money, double the pace of its content output as well there's continued rumors about the apple car with personnel changes continuing in that division, and it doesn't end there. next week will be even bigger. the company's product event is scheduled for tuesday. new phones and upgrades to the watch and air pods both expected let's dive into every bit of it with the senior analyst at piper

sandler covering apple, and joanna stern, personal steccy correspondent at the "wall street journal" and a cnbc contributor. let's begin with the lawsuit or the ruling by a california judge that as i understand it means that apple will be losing a slice of its revenue pie to app developers who can now collect money directly and not have to collect it through the apple store and pay a 30% cut to apple. am i understanding that correctly, and how much money are we talking about here? >> so, yes first of all, thank you for having me on the show. you are understanding this correctly but, remember, this is just has 90 days to be imp implemented. i'm sure there will be more legal action on it one of the things the judge, judge gonzalez did say, is apple is not a monopoly. i'm sure apple will find a way

to legally challenge, but let's not forget about one fact. first of all, is this material to apple and, secondly, the popularity of the app store. we did some quick back of the envelope math. if i take out $1.2 billion of revenue from apple, somewhere in the ballpark, apple will lose between 3 to 4 cents of earnings per year on an earnings base of $5.80. so it is practically immaterial to apple this revenue. the second point is let's talk about the popularity of the app store. it is still by far the most popular franchise to put your apps on, if an app wants to be discovered, wants to be successful, the owner has a reason to be on this now once you start to take away the laws and apple has no slice

of the in-app revenue, to put somebody on there decreases quite dramatically there's simply no money to be made, let's face it. that calls for a different model where apple might charge a company that has potential for in-app purchases up front in a yearly fee, something of that nature, to cut off that $1.2 billion impact we were talking about. or they might meet the app developer down the line and reduce the 30% payout to make the impact more palpable to apple. that's the way we're thinking about this >> that's really fair and interesting. >> it's impematerial >> that's the bottom line. even if it goes through, and you're telling us clearly there's more legal action on this trail to come here over the next 90 days and you cite the judge did not describe apple as a monopoly, so there's a lot more to come number two, even if it does happen, it does get verified in

court. the impact on apple will be, quote, immaterial because it is so small joanna, let me turn to you i'm not sure -- there's one element of this i'm not sure i do understand and harsh or joanna you can jump in let me direct it to you, joanna. if i am a user of one of these apps that has in-app purchases and that revenue currently runs through the app store, am i going to have to change anything i'm a creature of habit. once i've signed up to have the payment taken through one way, i am very loathe to change it so that it would go a different route. joanna >> no, you're asking the totally right question for the consumer end. how does this impact us, right on the one hand you could see it as possibly passing on the savings to us. if the developers no longer have

to pay the 30% cut to apple and they could lower the price on in-app purchases, say by 30%, and pass on that savings to consumers, right win for consumers, that's great. will the developers all do that? i don't know i think they could see this as a way to make more money what they would have to do would be to implement their own payment systems. not going through apple and that's what the ceo is saying on twitter about the response to this is they feel they want that level playing field, being able to use apple systems for the cost that makes sense, which they believe is not the 30%. so this is all what needs to play out as this conversation has proven, we have a lot of big questions about how the legal route will affect what we actually get on our phones and in our hands. >> so, joanna, say that again. basically epic wants to have the ease of use of apple's system just without paying the toll >> that's what i seem to infer from the tweets today from tim sweeney. i've seen some of their

statements which they still want to continue to fight on this they are, i believe, just not feeling this was a win for them. the thing about this mixed verdict today, who has really won. a lot more went to epic than many thought and a big win in terms of this concession in the 30% and being able to steer and able to direct people to their own payment systems and stores there's a part that says apple is not a monopoly and as harsh be was saying there's possibly a lot there that can go back and forth. >> harsh, let's turn forward to next week. there's a widely anticipated product announcement of what could be the apple phone or iphone 13, and where do you see this fitting in? where is the demand for this product? what could be different that would compel system to come out and spend what i suspect would

be an even higher price given the shortage of chips for a new phone right now. >> so let's talk about this. i think apple is in a mode where it has a fairly steady install base it has a very good brand name. i think apple is looking for small incremental changes as of last year. once they made the move to 5g, don't expect any changes to the phone or the watch from this point on it will be small, incremental changes, better camera, different features here and there. the push towards 5g continues. we did a survey of 1,000 american households and talked to stores and what we found was stunning very little interest ahead of the september 14 announcement by apple for the iphone 13 because the features are not out, the

pricing is not out as of last week, as of earlier this week, people were coming up in droves and upgrading to the iphone 12. and the big reason the iphone 12 is being practically given away free by the carriers at&t, verizon, t-mobile all have extremely sweet programs to try and tap into the consumer base and lock them in between two to three years. you can get between $1,200 and $700 which is practically the cost of the phone. so that's what's making the iphone hum here. so what i would say to you is the phone itself doesn't matter. 5g matters the most important thing, i think this is what everyone misses on apple, the install base is a billion units, roughly 2.6 years old and in three to four years you look to upgrade 5g is a major upgrade push to the base a billion units, possibly looking to upgrade 200 million, 220 million sold each year, this

could be a multiyear phenomenon with the push from 5g. that's the key here. >> i have a 5g phone, but i don't get 5g service in many places that's been my frustration i want the gs but give them to me joanna, you had something to say there? >> i do. i think that has been the case with 5g. it is a nice marketing point for carriers it has been a great thing for the carrier deals, faster service, brand new phone but, 5g makes no difference to me on this thing and i've had it for a year >> tell all those people sitting behind you to take the rest of the day off, will you? joanna stern -- >> we're working hard here we're working hard >> harsh, thank you for illuminating us. >> really interesting. apple is moving lower on the news a range of subscription based companies moving higher. check out the stocks that saw pops and continue to rise. netflix up 1.5%.

spotify nearly 3%. match up 6.5%. also bumble, roblox and zynga. zynga up 7%. alphabet moving lower and, in fact, seems to be news the app store could be the next target modest decline 1.5%. let's turn to the silver stocks having a good day. first solar and sun run. for sun run the firm setting a buy rating of 60% upside and run is up 3.5% this stock is down about 30% so far this year. they're saying the industry can keep growing at a fast pace due to easy adoption for solar and the rest of the space, the analyst is here welcome. >> thank you for having me >> why is sunrun struggling so much this year >> next year an advantage from

people who install on solar. we think they will not expire:i think there was some disappointment in the minds of investors what they were expecting from the administration did not come sooner or was not as high as people expected it to be >> so this is, again, just to everybody who is following, the tax credits that have been a key source of spurring solar panel investment the biden administration released some sort of clean energy framework last night. what was in there for solar? >> there are a couple of provisions for solar itc was not part of it for utility which increase production by 1.5% annually.

no clear advantages but we think that it happens. i think that is the power this administration has it has been extended in 2006 and i think if the biden administration wants to achieve their target of solar increasing solar generation 45% this is made to renew and will be incorporated as well >> i have a zillion more questions about the cost of solar installations, but your point is sunrun, after the acquisition is kind of the leader in this space as consumers make this determination for themselves, this is who you say they will be turning to really interesting case, a different kind of business model. in many ways the buy american play for solar panels which the biden administration is cracking down on in terms of the silicon

production line in china will there technology be a breakthrough and why are you only a hold on the stock >> we are a hold after the stock is up from 33 dollars. it has tripled it is because the biden administration focuses on buy american, restricting the ability of installers and manufacturers which is mostly from china it comes from china and 50% is always off human rights nations. so putting curbs on policy has given a boost to first solar first solar is also not exposed to what they're getting from

because of the differented technology coming back from their technology, it is more efficient, it's high quality it performs better and that's why the company has capacity through the end of 2022. >> wow >> and increasing their capacity to 16 and installing a plant in ohio which will be the largest solar manufacturing facility out of china technology has been and the company has shown it can improve that technology every single year 5.5% the last ten years and they've shown the ability to continue doing that. >> as you point out, they also -- this is a technology kind of light flat screen tvs. they sell cheaper and cheaper every year and face supply chain pressures. you don't think it will get better like many of your

colleagues do to the same extent thank you for joining us and walking us through good to have you >> thank you coming up, china stocks are bouncing back today on optimism over biden g discussions is it too soon to think the crackdown on the economy is over plus, why is jpmorgan getting into the restaurant review business this seemingly unusual move under the microscope look at the stocks hitting not just 52-week highs but all time highs today. tractor supply, generac and albermarle deal! yeah, it's kind of our thing. huh, that's a great deal... what if i'm new to at&t? cam, can you...? hey... but what about for existing customers? same deal. it's the same deal. is he ok?

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to receive one-thousand dollars off your kohler walk-in bath. and take advantage of our special offer of no payments for eighteen months. as america marks the 20th anniversary of the 9/11 attacks, it is believed more people have lost their lives than on september 11th itself. more than 100 health conditions associated with 9/11 survivors and first responders are the hardest hit. ylan mui has the story of one new york city police officer >> i wasn't thinking about protective equipment we were invaded, so my concern about my health was way down on the list of concerns >> reporter: on the day of the attacks former nypd sergeant tom wilson helped stunned survivors covered in dust cross the williamsburg bridge. afterward he spent months

working on the pile. that's when he started getting severe conjunction vis. >> i would get constant pneumonia. so that's when i got really concerned. and then, of course, in 2008, my tongue cancer diagnosis. that knocked me on my ass. i had a very young daughter, a newborn. and she had to breast-feed up there in the waiting room while i was in the hospital. i had a tracheotomy. i had to be fed through a slushy liquid through my nose through tubes. it was pretty devastating. i have five kids >> reporter: roughly 1,800 names are etched into the granite wall at the 9/11 responders remembered memorial park in long island it's dedicated to those who died of illness after the terrorist attacks. wilson knows many of the names >> he retired and then he died

of blood cancer two weeks later. >> reporter: what pains him the most is not the sacrifice they made or his own ailments, it's his memory of the pile >> i often think back and it haunts me of what i probably missed and now it remains there at a landfill that's the final resting place of the heroic people who just went to work that day, ordinary people, heroic first responders who responded and never been recovered. >> reporter: talking can be physically difficult for wilson, but it's also therapeutic and he's hoping his story will help other people suffering from 9/11 health conditions to know that they are not alone, and they have someone to reach out to guys >> i think no one at the time knew the health risk that the first responders or anyone in the neighborhood was eventually going to have to confront.

what are some of the principle ailments people have suffered or died from? >> reporter: the most common ailment is inflammation of the lining of the nose and of the sinuses, gastric reflux. but cancer, like tom wilson is suffering from, is the number three ailment. 14,000 first responders were diagnosed with cancer as according to a law that requires them to be monitored this is an issue that is on sl going. some of the conditions that we normally associate with people getting older are exacerbated in the community because of the things they've been exposed to >> the cancers are tracking much higher in the group. it's absolutely traceable to what these individuals on 9/11 and in the weeks and months afterwards >> reporter: in order to be covered by the 2010 law, they have to be able to show that

there is this exposure to the 9/11 events and debris and dust, et cetera. these are things that are connected back to what they experienced on that day. >> ylan, thank you very much and as we head to break we're reflecting on the impact 9/11 made on our country and new york over the past 20 years the number of tourists visiting downtown has nearly doubled. it reached about 14 million pre-covid. a sign of those who are still interested in visiting down there but just the vitality of manhattan. we'll be right back. for skin that never holds you back don't settle for silver #1 for diabetic dry skin* #1 for psoriasis symptom relief* and #1 for eczema symptom relief* gold bond champion your skin ♪ ♪

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welcome back a quick check on markets the dow was down, i think, 224 at the lows but down 51 right now. nasdaq down 12 it would be the fifth for the blue chips let's flip over and take a quick check on bonds 1.34%. the 30 year 1.9% obviously that's muted as we head into the afternoon. oil is getting a bump. wti crude is almost back at $70

a barrel up about 2% right now and obviously keeping a close eye on natural gas this one after spiking so much to start the year, it's about doubled taking a bit of a breather today lumber is up 4%. copper is up 3.5%. two video game stocks going in different directions, take two interactive lower. taking a little time out, delaying its new release of grand theft auto by four months. activision blizzard. kroger tracking for its worst day after reporting slipping gross margins. the company did report an earnings beat and raise its guidance other big grocers down, albertsons and prouts down dave and busters up to $54 partly why that stock is up

2.5% they say the company cash flow is good. and for move of the top calls of the day go to cnbc.com/pro tomorrow marks the 20th anniversary of 9/11. after the break, we'll take you live to the memorial and then speak to the developer that bought the twin towers or leased it just weeks before they were destroyed.

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all backed by a dedicated team, 24/7. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. ♪ i'm shepard smith at the 9/11 memorial in lower manhattan. "power lunch" continues in a moment first, we remember 20 years later. members of the new york congressional delegation in new york city today, in manhattan today, pledging more funding for a federal program that provides health care to those affected by the 9/11 attacks senate majority leader chuck schumer saying today democrats have already agreed to include funding in the $3.5 billion budget reconciliation bill that's currently being written according to the cdc the world trade center health program serves more than 100,000 first

responders and survivors from the twin towers, pentagon and shanksville. attorney general merrick garland today marking this moment with a moment of silence at the justice department the ceremony held by a survivor tree, a desndant of the bruised and battered tree at ground zero that survived the attacks 20 years ago tomorrow the 9/11 memorial has a seedling program for the tree that still stands today here in lower manhattan. the memorial sends the trees around the world to serve as landmarks symbolizing resilience and hope hundreds of boats gathering in new york harbor this afternoon for a procession to honor victims and commemorate what became the largest water evacuation in american history over nine hours that day, hundreds of private vessels answered the coast guard's call to come to lower manhattan to help people get out. an estimated 500,000 people were

evacuated to safety that day tonight a special edition of "the news" on cnbc "america remembers: 20 years later" we'll remember and look forward from here at lower manhattan. that's right after jim cramer 7:00 eastern cnbc. tyler, back to you >> all right, shep, thank you very much. we will be watching. as america remembers september 11th we want to look at the recovery efforts since then and how far downtown manhattan has come or come back on the redevelopment front close to 70,000 people live in the area today and it's home to nearly twice as many bars and restaurants as it had 20 years ago. the ceo of silverstein properties is best known for redeveloping the world trade center, the company's founder and chairman larry silverstein leased the world trade center, 99-year lease, six weeks before the attacks. the company spent the last 20 years rebuilding welcome. we're delighted to have you with

us >> thank you, tyler. thanks for having me >> silverstein properties fundamentally owned what we think of as the twin towers, am i correct on that? it was a 99-year lease, but that is an effective ownership. how much of the cost was covered by any kind of insurance i'm curious. >> well, we paid approximately $3.2 billion for the lease hold and received $4.5 billion in insurance proceeds which we shared with the port authority but have spent about $20 billion rebuilding and we're not finished >> when you think of the twin towers that came down, those were one part of that area of downtown that was so badly struck there were other buildings at world trade center that i understand you owned or now operate. is that correct? >> yes, there were many buildings. the vista hotel, the retail

below which westfield controlled, and a number of buildings on the property as well as 7 world trade center which was off the 16-acre campus and the deutsche bank building which will soon become 5 world trade center >> buildings are just buildings, but they are also symbols of how we as humans interconnect. take us through -- i know you weren't at the company for this entire period but you've been there long enough to know how this experience has been felt by the people at silverstein properties and by the people you've dealt with as you have taken such a lead role in rebuilding and redeveloping the area >> well, it starts with larry. larry was the first person to say, you know, we have to rebuild. not just for new york but for the nation and the world he just felt it was a duty to do it and everyone from larry below feels like it's a privilege to be able to work on this project

and to be a part of the redevelopment of the world trade center, and it truly feels that way every day. it doesn't get lost on us even 20 years later >> take us through the effort that went into the rebuilding of some of those buildings and clarify me, if you would, on who actually owns what is now known as the freedom tower, which is the grand and impressive building that stands where the original twin towers did who owns that? >> it's interesting. it started with 7 world trade center it was the last building to come down, and thankfully no one died in that building we didn't have to deal with victims' families. there was no hallowed ground there. we were able to rebuild that building first it also housed all the coned vaults for lower manhattan everyone wanted to see that building come back up because we were on temporary power. that building got built quickly.

in four years in 2005-2006 that building got put up very quickly and opened, and it was about 1.7 million square foot building we were the first tenant there we tried leasing, which was very difficult to do, but then moody's came along and anchored the building it was the first to reopen in the whole area after that we started rebuilding the master plan. one world trade center was transferred from our ownership to the port authority. the port authority owns it we then opened -- >> and one world trade is the freedom tower, am i understanding that correctly >> that's correct. >> one world trade -- >> that name after some time, that was the early name for it they call it one world trade center now >> okay, okay. fantastic. and then other buildings down in that area you have built back up, quite a number of them how would you describe -- for people who aren't familiar with

downtown new york and there are many millions of people who visited there but a lot haven't, how would you describe the change that has taken place as that neighborhood has been redeveloped and rebuilt? it is much more residential and much less office dependent now, it seems to me >> i would say that prior to 9/11 it was a very financial services oriented office market, and now it is a 24/7 vibrant community that is not dependent on the financial services sector at all it is very diversified into technology, into media and advertising and legal and the bars and restaurants that have opened, as you mentioned in your opening, the schools that have opened, the cultural facilities like the whitney that came downtown, building the performing arts center there, the 9/11 memorial museum, the observatory that's at the top of one world trade center and then just the mix of tenants

that have come down, spotify and you burr and then law firms and then just firms that have grown up down there. we have the 13th stock exchange to ever become a stock exchange out of nowhere idx. just fantastic companies, casper, all headquartered down in this area >> much more diverse list of tenants there. and i just want to close by saying you say the area is well leased, but maybe not as well occupied as before the covid outbreak hit it, so there aren't maybe as many workers in the buildings. for your part the buildings are well leased. we thank you for joining us today. i know it's a solemn day and a day of remembrance, and we thank you for sharing yours with us. >> thank you so much, tyler. >> you're very welcome before we head to break, many wall street traders were right there downtown when the towers fell. here's jay woods remembering the event 20 years later

>> oh, everyone remembers the weather. it was a beautiful day you come to the trading floor and i went out to see what the commotion was. it was like a ticker tape rapade when the second plane hit, our lives changed forever. i wonder how the firm's doing without its fearless leader. you sure you want to leave that all behind? yeah. stay restless with the rx. crafted by lexus. experience amazing at your lexus dealer. this is wealth. crafted by lexus. ♪ ♪ this is worth.

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welcome back to "power lunch. a market flash on what's happening with poeloton this comes after the fitness company announced the launch of its private label brand and competitor lululemon on pace for its best week since september and first weekly gain in the last seven weeks snapping its longest weekly losing streak since its ipo in 2019. peloton riding higher. back over to you >> thank you, dom. economic uncertainty weighing on stocks as the major averages finish the shortened week in the red. investors are concerned covid cases spiking at the same time

inflation is causing the fed to take away easier policies. our next guest recommends portfolios focus on reopening, recovery and infrastructure. joanne sweeney with advisers capital management it's good to have you. this is kind of a risky gambit people are comfortable sticking with it and why do you think now is the time to double down on reopening? >> kelly, good to be with you. i think people need to recognize the recovery will take some time the early gains were made and now we're seeing labor growth still coming along nicely but at a slower pace. and so while you definitely want to have some exposure to the reopening trade, we want to be careful about being too exposed to those high multiple really big tech stocks because we are seeing inflation remain high we do see a lot of it as transitory we have to expect the fed is going to pull back and eventually rates will rise and

that will be somewhat constraining for the high multiple stock that's why we're looking at positioning our clients using individual stocks in a more diversified portfolio that includes both reopening, some key secular growth tech stocks as well as recovery stocks >> so biontech which itself is a partner of pfizer with the vaccine and train technologies, right? >> yeah. let's start with the latter. trane is an industrial and some folks think of it as a cyclical stock. when you look at trane they provide hvac systems which are going to be boosted by continued housing building but by regulations in europe and the need elsewhere to improve air handling whether it's for efficiency reasons or for covid. so it's a cyclical stock with a secular growth opportunity and it's fairly low volatility so it's a nice solution to add in to both income oriented and growth oriented strategies >> and why biontech?

>> yeah what a lot of people don't understand about biontech, famous for its covid vaccine, a lot of the forecasts out there assume a much bigger drop-off in revenues in the out years like 2023 than i think is really justified. we're seeing the need for boosters come along. we see the need for the rest of the world to continue to get vaccinated we have a long way to go and so we see that as a sustaining driver for revenues just from that vaccine but what people don't recognize is that they have a really good pipeline of other applications of what's now been proved as a successful messenger rna flat form whether it's flu or cancer vaccine. they have preclinical and clinical trials going in several different areas with other well established companies like pfizer >> very interesting. joanne, we appreciate it joanne feeney with picks for the next period of time. presidents biden and xi of china speaking for the first time since february. this as tensions between both countries have been climbing over the past few months is it still too risky to buy in

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apple officially responds to the verdict with its trial with epic games josh >> apple hosting a media call, one bit of news out of that call, apple is not saying whether or not it will appeal that decision in the case. apple is saying it is a big decision with a lot to review, but apple did give a statement, saying, we are analyzing the decision, which is 180 pages long, but the headline is that the appear store business model has been validated the court rejected the artificial view, and that developers like epic games have benefited from up ale's development and cultivation of the ios ecosystem. in short, this is a recounting victory, apple is saying

apple is declares this a victory. the judge did also saying that the developers have to allow the developers to link to -- and even if the decision did become the rule here, investors have to think about what they believe how consumers would react to that alternative would they actually choose an alternative payment system if it was available, or stick with the one you know, guys >> another great point josh, thank you. let's flip over to seema mody for trading nation. >> thanks, investor kathycathies slashing her exposure to chinese

stocks so do you trust the recent move, the recent rebound, or is there more pain ahead? let's bring in the trading nation team. we have daniel say, and craig johnson. we also a president bidened and president xi speak for the first time sin february. how do you think politics are -- >> i would say once bitten, twice shy. if you just look at the chart, these stocks peaked in february and have been making a pretty consistent series of lower lows, lower highs, from my perspective until we get back above that declining price channel, i'm not going to touch these stocks until that reversal takes place.

>> danielle, give me one name you think can defy gravity >> the one name that's starting to look better in this space i think will be jd it's starting to break above the key area of resistance if jd can show some relative strength, perhaps alibaba, and the rest can follow. >> jd is trading higher today. danielle and craig, good to see you both, thank you, for more, head to our website or follow us on twitter. >> thank you, seema. up next jpmorgan buying the owner of gap, and we'll look at the interesting move, next >> announcer: now the latest

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welcome back dom chu has an seemingly unusual transaction under the microscope. >> jpmorgan is buying something called the infatuation it's a popular website known for dining recommendations, events recommendations, reviews it also runs an annual food and music festival it also bought zagat from google back in 2018 that's an interesting combo there for jpmorgan bank and credit card providers are trying to lock in the affluent consumers that are interested in things like dining out and travel american express bought resy back in 2019, and since then has launched exclusive deals for its

amex measures. when i mention a banking deal, you always think it will be a small irbank, but to get into the lifestyle side of thing is something you don't obvious hear a company lie jpmorgan chase getting into an interesting move higher >> so they would presumably offer some kind of deal to high-end cardholders >> it could be the entry point with 'members, amex has been known for some of those benefits, with their gold card or platinum card members or black or onyx card members what it interestingly does is give you an point of relationship building that customers have chase is known for the sapphire credit card, the high reserve cards. if you can somehow take that ecosystem and wrap it around finer dining establishments, that could provide that real runway to get people more sticky in your banking system. >> i also wonder, as the world

goes more fintech if they're finding more ways to compete you know, you wonder. >> i also wondering whether or not the data provided by people going to booking restaurants or searching restaurants could be valuable to customers. >> that would be great for everybody. dom, thank you very much, sir. have a nice weekend, kelly. >> you too. all you viewers, the same. thank for you watching "power lunch. "closing bell" is right now. thank you kelly and tyler. welcome to "closing bell." a ruling in the epic/apple battle, sending shockwaves the dow looking to avoid a losing session in a row. >> i'm wilfred frost let's look at what is driving the action a federal judge ruling that apple can no longer -- directing customers away from in-app