obvious' focus but what this company talks about frequently, the consumer experience has to be god, whether you are ordering on line, via door dash, from a person or without a server they are trying to make that experience for restaurants big and small. >> kate rogers that does it for "the exchange," everybody. stay right there punch starts right now -- punch starts right now. >> good afternoon, everybody, welcome to punch, i'm tyler mathisen here is what's ahead on a busy friday afternoon the great resignation. millions of americans are leaving their jobs but can they really afford it. >> we have sue see orman here with five questions to ask yourself before you move on if you are considering it plus, the lithium decade it's here, according to every corps isi there are at least two stocks will help power our

electrified future "power lunch"s are back. the cnbc set is returning to manhattan hot spots, but with a pandemic twist a "power lunch" on "power lunch" laid they are hour. let's look at markets. dow moved down 250 points. s&p turned negative. the nasdaq holding on to a 7 point gain high pressure by lower bond yields. all of this because of covid rippling through wall street austria entered a full covid lockdown bond yields are also pulling back, sinking below the 2021 peak of 177% in october. we are down to about 1.53. oil prices are falling to a six-week low on concerns about a slowdown in global economic activity goldman put out another note trying to explain it wti back to $76 a barrel covid concerns are pressuring all the major reopening sectors. airline stocks are lower, hotels and cruise lines as well mike santoli is tracking the

emerging themes at the nyse today. >> in fact, added pressure on those sectors. really, two weeks ago is when the pure travel and leisure stocks started to underperform a little bit that was also really when the s&p 500 got to its intraday peak two weeks was also the strong dodge data it was an apex of economic reacceleration type sentiment. we have gone sideways from there. two weeks ago we were riding the five week win streak for the s&p. four weeks of s&p above everyone me included said markets will cool off a little bit. two weeks going sideways has done that. it is much more of a defensive flavor look at the nasdaq 100 versus the small cap russell 2000 over the course of this week. a stark divergence there more than five percent an points of performance spread in five days russell 2000, a cyclical proxy, higher yields tend to be a tail wind for the russel. not the case here. a handful of mega cap growth

stocks really doing the work, especially even today. apple, nvidia, and meta are essentially keeping the market from having a down half a percent day. you mentioned treasury yields. another setback from the recent highs above 176 in the teerp although we are holding above where we were a couple of weeks ago here in fact, this is right where the market was once seen to have some important support there n the low 1.50s. a couple of times not that long ago. you vaguely have the uptrend intact but it is complicated and choppy a lot of people, and tyler want to call the big rise in yields and the they gotive for bonds. it just happens only in fits did starts. >> mike santoli reporting from the new york stock exchange. with the reopening trade fading just a bit today what's the best way to invest in this market two market veterans join us now. one says market corrections are inevitable

the other says today's market shows a continued an is it tight for risk and low rates let's bring in ron insanaa and the veteran michael fehr, chief market strategist for high twoer advisors gentlemen, welcome three veterans here. >> no medals to show for it. >> no medals to show for it. >> right. >> ron, let's talk about this -- it seems to me this year has been particularly tranquil, there haven't been -- there hasn't been as much volatility that maybe we would have expected am i forgetting something? what's going on in that we haven't had a big correction and volatility seems placid. >> if you looked at it up until recently all the major themes were moving in tandem, growth and value moved together today notwithstanding. large and small moving together. europe and the u.s. moving

together that trend was powerful domestically and globally. today it is nothing more than shifting from an inflation scare to a growth scare because of covid. we are not past the point where we can be entirely comfortable that covid has gone away, from pandemic to endemic. we have 48% of the population still not vaccinated when you see austria, when you see it spreading in germany, or in michigan in the midwest, the. >> that's going to knock the market back a little bit but you are right, it has been a tranquil market, a steady upward trend. just about almost everything has worked this year. >> when you say a growth scare, let's be clear, a slowing of growth, a lack of growth. >> right. >> michael, let's -- ron pin points the growth worries on the one hand, inflation worries on the other. how do you invest when you havette got those two poles at work here?

which one worries you more >> right certainly, we know that the pandemic and covid is the greatest worry for janet yellen. she has said that, secretary yellen has said that the most important thing i think you can pay to as an investor is the price you pay. the price you pay and the multiple you pay will determine your results over time like buying a house. it is how much you pay some thing are expensive today they are getting more expensive. the faangs stocks, and the tech stocks all on a roll and the money is moving there the industrial stocks, the value names, have not kept up. i think you look at those areas that really have not participated in this rally as much, and you still look at some of the reopening trades. for instance, you lock at a medtronic or a striker, these are companies that make medical

devices, and elective surgeries haven't been happening as much, particularly when covid surged through the fall they pulled bag. i think there are students there as you get people saying i still need a new knee, a pacemaker, i have still got to do these other things and go back as soon as i can into the hospitals i think there are other names that aren't overly expensive cvs, even though it has had a good year is still reasonably inexpensive, they have growth prospects and had vertically integrated balance sheets matters, earnings matter, and you should know what you own and not get complacent about things just going up forever. >> while we are on the topic here, you know i like to raz your about your affection for johnson & johnson. are you happy they are splitting up. >> you know, i am. i have been so happy i have owned that stock forever. i think that it -- you know, you get frustrated with the johnson & johnson because they have trailed a little bit

their medical device business should be worth a lot more and their brands business probably is worth what it is, should be worth. but i think they are trying to unlock value i think it is a bit of frustration, but yes, i think it is a good move. >> ron, let me close with you. one of the things that we began the week with sort of surprised me because it seemed to come out of the ether -- and i am not talking about the crypto -- is the question of whether jerome powell will be reappointed what do you think is going to happen what would you say the market reaction will be if he is reappointed versus if he is not, no matter who the subsequent chair might be >> there might not be that much difference between jerome powell and lael brainard from a voting or inflation and growth per sect i have i think the market would be more comfortable with continuity, with the fed not trying to figure out a new set of policies if someone else were to be

appointed. and there would be senate hurdles to clear if president biden decides to change leadership my guess is that powell remains chair, brainard vice chair and then you move on from there, that the president will put in more moderate -- or liberal types to appease the progressives who have been complaining about jerome powell. two democrats said they would vote against powell and we know the likes of elizabeth warren are opposed to his renominations. i think at this point, don't change generals or switch horses whatever metaphor you want to use when you are crossing a river or fighting a war. i think jerome powell has acquitted himself well over the course of his time and probably should be given another shot. >> don't change generals in the middle of the stream, as we mix the metaphors. >> thanks, gentlemen have a bra weekend. what do we know about the

covid wave that's hitting? many countries are at seven day records for new cases. meg tirrell joins us last hour we were asking if it was simply following cold weather, following the population indoors >> some experts think there is an element of seasonality to it. we know measures came off and people started gathering together there are pockets in these places that don't have high vaccination rates. all of that together is leading to massive spikes in these countries. this has taken place look at that the blue line is austria, the orange is netherlands. the others are cups where cases are rising it is not just cases rising. hospitalizations and deaths are also on the rise to a lesser extent in austria, thatti blue line

spiking up that's deaths per million people germany's health minister saying they can't rule anything out at this point europe's reg limiter clearing merck's drug even though it is not approved yet saying you can use it for emergency use because cases are spiking so much heading into the holidays and the winter months. they are starting their review of pfizer's anti-viral as well what does this mean for the united states? cdc advisers are meeting now whether to recommend boosters be brought in to all adults after the fda cleared pfizer's and modernas for everybody 18 years of age and eight months out from their original shot. the rising cases only started two weeks ago. typically there is a lag between the hospitalsizations and deaths metrics. we could be in for a rough winter that's what folks are trying to

avoid with the booster push. >> absolutely. why is it that europe has seen so many more cases compared with a place like japan, for instance >> that's a good question. what we hear is that some of this can be attributed to behavior in terms of taking away some of the measurements, and vaccination rates. but not all of that can be explained by that, as we see, someplace with lower vaccination rates do a better job controlling the virus. it has been a perfect storm to hit europe right now in terms of those things coming together. >> yeah. it's going to be a tricky one. >> it's amazing to think that we have been in this sort of state of -- >> so long. >> paralysis almost two years. >> unbelievable. >> and on it goes. >> maybe it doesn't go maybe people are saying the case count is what it is. >> and we have to live. >> and things are normalizing in the face of it really interesting meg thank you. coming up, the great resignation. quit rates are reaching records but can you afford to join the

movement suzy orman wl ilhelp you from making a big mistake >> trading nation. i'm ready for anything. find out what's strong with you with fitbit charge 5 and daily readiness. i promise - as an independent advisor - to put the financial well-being of you and your family first. i promise to serve, not sell. i promise our relationship will be one of partnership and trust. i am a fiduciary, not just some of the time, but all of the time. charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals. visit findyourindependentadvisor.com

welcome back, everybody. the great resignation showing no signs of slowing a record 4.4 million workers quit their jobs in september alone a new op ed out today on cnbc.com's invest in you page

suze orman explores whether you can leave your job and explores five key questions to ask yourself before you move on. it is not everybody that gets play-in music, but you do. part of our partnership with acorn. she joins us now i want to throw out the script, i want to get to the five questions you say are important to ask yourself before you make a move like this but as i remember, listen, you lived your life at 200 miles an hour for many, many years. >> uh-huh. >> you had nice resources, but you scaled back a little bit you dialed back the speed at which you live your life, as i recall what was the thought process that you went through that made you decide, maybe the way i was living was not the way i want to live right now and going forward? what was it in your mind that changed? >> well, it was age. i have to tell you the truth in that -- that was about five years ago.

and i had just turned 65 i'm now 70 i look good, don't, i, ty. but that's besides the point and i knew i had enough money. but i didn't have enough time, enough time to be with kt, enough time to just be and i wanted to know, who was suze orman when she didn't have standing ovations, when she didn't have her own television show, when she wasn't doing this and doing that, who was i? and would i be happy doing, quote, nothing for two years, i did absolutely nothing. and i have to tell you, i loved it so i totally identify with why people want to, after going through a year or two of not being able to work, why they wouldn't want to go back to work, to tell you the truth. >> yeah. it's an interesting journey. i think a lot of us have come to it i mean, basically, you say these

are decisions that individuals have to make, as you did, but slow down a little bit before you take this leap and, and do some self analysis, starting with whether you are in a job and are thinking of leaving it but you haven't given sufficient thought to whether i can make this job work for me, or whether my supervisors will allow the job for tailored more to my liking in? yeah -- liking >> it is easy the think, especially when you amass like a savings account. what is interesting, during the year when the pandemic was happening -- it's still happening, when everything was shut down, savings rates went up 30%. people didn't have to pay their student loans. they were getting unemployment, they didn't have to pay for

lunches, clothes, gasoline, anything all of a sudden we saw all this money that people never had before and it gave them a cushion and made them feel like they were free so to speak, finally speaking here we are back again, inflation is rampant we will start to see the coffers going down and down and down if you have a job and you liked this job before this happened, then -- and you just want to stay home or you want to make a change, before you give up something that maybe you liked but it wasn't quite what you wanted, talk to your manager, see what you can do before you just leave because money is a necessity like i was able to leave because i had enough money if i never worked again but you have to ask yourself the question, okay, if i don't go back to work, i don't accept this, and i want to do something else, how long will my cash last me given inflation is going up, i have more expenses and

everything like that. >> suze, it is kelly let's give people two concrete things to think of health insurance, to your point, maybe you should have double the amount of finances you think you need during the time you want the take off. >> testimony pundits were always saying all you need is a three-month emergency fund and you will be fine: i was saying, no, no, you need eight months of an emergency fund. it won't last. then what people found is it took more than three months to get another job or a job that was actually better than the job they left. you need to know -- if you think it is going to take you two months to fine something else, you better have the money to pay for four, five, six, seven months you never know what can happen health insurance is a major expense. so when you leave your job, all of a sudden you are going to be

offered cobra. cobra is very expensive. at least for health insurance, check in to, you know, the affordable care act. go there and find out if in, fact, you can get health insurance for a lot less than what cobra would cost you. >> two quick questions as we wrap up here i think one of the things that is interesting is what is your confidence willful on an easy reentry on your terms if you come to a point where, a, you need to get back into the workplace because you don't have sufficient resources or b because simply you miss it if you have been out of the work force sick months a year, two years, what is your ability to come back into something that's going to be comparable remunicipal retive, comparably satisfying, isn't going to stress you that's question one. question two, i'm famous for these, how do you leave on a high note? >> you always leave on a high note we will take that one first. you just don't leave

you don't leave out of anger, out of whatever. you have to remember your employer has certain things to meet earnings, make sure their bottom line is increasing leave on good terms, especially with your human resource people. you know, it's not their fault that you are changing. they have always been the same you now have different needs you are used to staying at home. you want to stay with the kids but at least leave on good terms, do not burn bridges number one number two, you know, you may think it will be easy to get another job. it might not be. especially if you are a higher wage earner. obviously, if you are a $15 an hour worker, i think there will be a lot of jobs for you, anywhere around. but if you are different, if you want, you know, a higher wage, or you are looking for a profession, be careful because there will always be people who want the job that you had. it doesn't matter that unemployment is low. a lot of people have left.

it's very possible, right, that a lot of people wanted that job that you had, and now you left, here there, and if you want that back or something like that, it might not be there for you >> thanks for spending time with us today back and better than ever, suze orman, we appreciate it. good see you >> >> that, ty. >> read her article at cnbc.com/invest in you nbc universal and comcast are investors in acorn. the lithium dc aid has arrived as the ev craze keeps going. the analyst behind this call joins us next to discuss what stocks you should buy. stay with us wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations,

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that was the verdict in the kyle rittenhouse trial. he testified he acted in self-defense when he shot three people, kelg two of them during an anti-racist riot last year. the white house says it is concerned chinese tennis star peng shuai remains missing after accusing a senior administration official of sexual assault he is calling on the government to say where she is and provide proof she is okay. and who will president biden decide who will run the federal reserve. psaki said she would report early next week. and the u.s. capitol christmas tree arrived in washington it came from 3,300 miles away in california it will be decorated with hand

made ornaments made by californians the lighting ceremony will be next month 'tis the season. >> we can't believe how quickly it has come this year. thanks. let's get the etf tracker. $96 million going into ev funds. the rivian ipo, apple stepped up ambitions in autonomous cars elon musk's stock sales rattled tesla shares the v car tech etf up .5% this week the itf up nearly 2% and even the one that was down brought in $25 billion of new investments. all of our data comes from our partners at track insight. >> proving there is an etf for

everything everything left-handed observo player etf. all righty further ahead on the shower. the return to the "power lunch," while the business world hasn't fully returned to its prepandemic norms, one tradition is making a comeback prime spots are filling up reservations are hard to get don't worry, we have a table waiting for you. plus the next frontier of tech we look at growing trend in the music industry, direct to consumer sales we will explain, when "power lunch" returns we'll be right back.

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depot, loesz, and amazon and costco are sitting at new highs. the other is tech stock. alphabet, and microsoft. and the semiconductor etf is hitting a new high this week what is hit? travel stocks. again down witness to three percent today. peak travel optimism was a clear date november 8th the day the u.s. okayed foreign visitors to come in. since then, straight down. since november 8th same with oil. oil is a proxy for global travel topped out at $84 two week ago now it is $74. most of the big oil names are down about 10% since then. an interesting week, kelly become to you. >> key if it helps with the gas prices in next week's big travel week bob, thanks. let's go to rick santelli

and check on bonds. >> my phone was going off like a pin ball machine at 2:00 in the morning about austria and bavaria cancelling christmas festivities. closer to our time zone, germany saying an entire country lockdown wasn't going to happen. and all of this putting huge volatility in the marketplace in a sort of flight to safety trade. look the 24-hour chart of tens you could clearly see when the headlines started to hit how yields drop. right now at 1.53. down six on the day, down three on the week. look at the spreads. 30 year minus two-year 24-hour chart. boy, did the curve flatten the flight to safety was most pronounced in long dated tress reese. the short dated treasury participated but there is a lot of fed action going on there we will talk about that in a minute look at the bund

minus ten to minus 34 basis points more than triple the dollar index is on pace for its highest close since the 16th of july it has been higher against all g-10 currencies today in a flight to safety trade. what's the other flight to currency the dollar/yen, the only currency we weren't higher against as you see on the two-day chart. if you talk about fed speak and somebody saying we might need to move the taper along faster because we need to raise rates this wasn't coming from a non-voter. it was come from vice chair clarida. a big deal. >> prices are dropping for the same reason. >> the lockdown sending oil prices tumbling with crude wrapping up a ugly week, the fourth straight week of losses

the longest since march of 2020. wti down 3.7% at $76.1 a six-week low the contract rolls today the more actively traded contract for january deliverly at deliverdelivery -- -- the leg lower has quote far overshot the actual fundamental risks. with this week's losses u.s. oil is now down more than 10% from the season-year high above $85 it hit less than a month ago >> a break there pippa, thanks. my next guest says we are in the lithium decade as demand for electric vehicles soars. let's bring in steven richardon, every corps isi's battery core strategist we were talking about etf trades but tell me about where you

think investors should be posi positioned. >> the interesting thing is the broader thematic anybody that's playing electrification and mobility it is not just the oems, not just the batteries. it is upstream to the materials. so if it is lithium, cobalt, nickel, graphite, there is increasing ways to play that in the equity markets, particularly in the u.s. equity markets we think we are still early innings. we were focused on albemarle and the blue chips. >> how much pside do you see. >> you have got a company that sells on a contract basis and is 30% of the market. they are 30% market share of an

industry that -- this is really why you can really talk about the lithium decade -- lithium demand will triple between 2020 and sometime around '25, '26, and double there after it is unclear to many in the industry including us how we get that second half of the decade amount of volume i think that 30% market share gets capitalized at a high rate. also the country has interesting growth prospects and very low cost, high quality assets that allow it to capture that i think that's, you know, really -- you know, i think as -- again, this is going to be one of the key bottle necks in terms of electrification that is a goal that consumers want, but also governments, and the oems are working towards. so i think it's -- you really have to think about this out to those time frames and those types of growth possibilities. >> where does lithium come from, daddy? it is one of those questions

where do you get it? you are saying the supply is what is going to be critical here >> that's a really good question i think the thing -- the place where people go wrong, this is a commodity unlike many we have looked ott over our careers. let meal lithium is probably available under your very feet right now. the question is, you know, what we need to find is, you know -- you know, is lithium in a form that can be purified into battery grade, which is a very high quality think about the oem supply chain and the decades it took to work out all the issues with all of the elements that went into an automobile and the tolerances for failure in that supply chain we are going to do the same thing in lithium n the battery supply chain but then also think about, we are driving evs because we believe in sustainability. so the omems are going to be

under scrutiny how it is extracted, is it extracted in a sustainable way? also we are going to ship it all over the world we want it on the same continent where we are going to build the material the simple answer, elemental lithium is readily available battery grade lithium, what the consumers are going to want is difficult to find. i think that's why prices have gone absolutely parabolic this year. >> thank you for your insights steve richardson. coming up, the "power lunch" is back. not just the show. offices may be mostly empty, but business lunches are filling up. robert frank is live from a hot spot the see what is on the menu for the industry. >> reporter: on the menu today, deal, and deals. we are live from one of the premier "power lunch" hot spots, where it is back in full swing we will take look at what it means for the comeback to work, the new york city economy, and a

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"power lunch" has always been here 2:00 to 3:00 p.m. here on cnbc. but the "power lunch" disappeared during the pandemic. now it is starting to make a comeback robert frank joins us from a new old hot spot on park avenue. robert >> tyler, only about a third of manhattan office workers are actually back in the office. but they are back at power lunches. it is in full thing at some of the hot spots like where we are casa lever, which is one of the kings of the "power lunch." there are a still lot of challenges ahead for the industry but an incredible comeback here. to break it down and serve it up to us is the cfo of the parent company of casa lever, sa company. >> thank you for having us. >> you are in the heart of the midtown financial district

block rock across the street, jp morgan, ever corps, it is all right here those offices basically empty for a long time. what did your numbers look like right now for the "power lunch"? >> as early as spring we were at 40% of our prepandemic numbers looking back at october, last month, we were at 70% of our prepandemic numbers. we are now looking at november, and we are close, very close to our prepandemic numbers, which is a very encouraging sign. >> you are almost fully back. >> yes. >> at lunch. >> yes. >> to 2019. >> yes >> that's amazing. but some things have to be different, right the pandemic changed so much what about the days of the week? i am hearing that because of remote work that's kind of changed the pace, the tempo of the work week? >> yes, you see a lot of people staying home fridays and mondays, the middle of the week, tuesday, wednesday, thursday, is when we are seeing a bulk of the business. >> so wednesday is kind of the new friday. >> wednesday is the new friday, i guess. >> the interesting thing about

that is, the reason is a lot of the high powered wealthy people that come here go back on the thursday night or friday to the hamptons, to florida, to wherever. >> yeah. >> yeah. and you have restaurants in palm beach and the hamptons what are you seeing in those locations versus manhattan >> interesting numbers in palm beach 2020-2019, we were up double digit. now 2020 to 2021 we are also up double digits, which shows the me a lot of people stayed down there and we have gained new clientele down there as well in southampton we saw a double digit increase from 2020-2019. but single digits in 2021 to 2020 >> the hatch tops settled town, but south beach florida seems

permanent? >> yes. >> what also may be temporary or long term is the labor shortage. part of the challenge, even though you are back in numbers, is labor how has that restricted your fully opening or other expansions how tough is it right now to find labor in new york city? >> it is very difficult to find labor. the statistics say the restaurant and bar try is 120,000 jobs short right now, which puts a strain obviously on the industry for here, we haven't been able to open for breakfast yet. we still haven't opened up saturdays. >> is that really because of labor, that -- >> a large part of it, yes >> and food costs are going up, everything is going up. >> we are getting squeezed everywhere. >> most importantly when the masters of the universe come here, and they do. what do they order what are the most popular dishes here. >> our appetizer whic, and a

wonderful arabiatta. >> you are famous for your pasta and now vegetarian dishes, keeping with the times. >> keeping with the times. >>cally, tyler, we are dying to dig into this "power lunch." hope you can join us at some point. back to full prepandemic levels here at casa lever >> what is that? it sounds delicious? >> it is a veal with tuna. >> thank you so much the return of the "power lunch." and the return of "power lunch" after this we will talk about somis chip stocks having a strong year but micron is lagging peers is it due for a comeback? our trading nation team will weigh in on that next. power e*trade gives you an award-winning mobile app with powerful, easy-to-use tools, and interactive charts to give you an edge, 24/7 support when you need it the most.

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i need help connecting with my students. behind every last minute save, ok, that works. and holiday surprise, thank you! a customer service rep is working unseen, making it happen. and at genesys, we're proud to help them help you everyday. welcome back to "power lunch. i'm seema mody micron technologies leading the semis. a laggard this year up 11% dwarfed by huge moves in nvidia

and amc. the trading nation team is yell shay and michael there's drivers behind the outperformance in chip stocks. what is the all meaning for a stock like micron? >> first off not a lot of stocks kept up with nvidia and amd but we think those are probably going to pause or maybe pull back before powering ahead micron trades at seven times earnings it is a cyclical stock i think these two analyst reports woke people up that hey it looks like pricing will come back to the d-ram and nan market in first quarter of '22 so you need to be buying the stocks, especially micron, a quarter before that happens which is right now. i think people are starting to see that i think it's dirt cheap at seven

times. i would be a buyer today. >> hmm danielle, it is notable on a day when the broader market is down micron shares are up about 8%. >> i completely agree. normally i wouldn't go for an underperformer but i like this weekly chart pattern there's a nice consolidation on micron and nlcx, as well it is up above the 200 simple on high volume. i target 100 and then 120. we additionally have a run-in earnings on micron which is typically strong and looking at long calls makes sense and then potentially a bullish butterfly out into january targeting the new high. >> always love the bullish butterflies. thank you. for more head to the website,

follow us on twitter tyler? >> thank you. still to come, a swift change to the music business we'll explain how artists like taylor swift change the industry by taking the music directly to consumers. >> now the latest from trading nation.cnbc.com and a word from our sponsor.

taylor swift made headlines, went viral and set records when after the master recordings sold without permission she rerecorded the hit album "red" and may have completely revolutionized the music industry thanks to tools with more artists looking to own the right just julia boorstin has a look at the next frontier for music distribution julia? >> artists no longer need to rely on music labels at gatekeepers to get the songs on the radio or sell cds. now they can use new tools from music start-ups to release music. they poured $112 million into

distribution platforms this year, up to $16 last year and nearly $45 million the year before a leader in this space is united masters. it closed a $50 million series "c" and $550 million valuation in addition to distributing music, it sells rights for use in ads and merchandise and with nfts. >> this is happening around the music business where artists are finally taking control back of their career and then another generation of artists that don't want to be with a record company and own the rights, be fiercely independent because independence is the future. >> other companies help artists to release music like tunecore and cdbaby there's public stocks betting on

this new independent music e cosystem shopify and the social platforms are key to this ecosystem as they sell their merchandise via shopify. guys >> so, julia, if i don't need a label, why do i need a non-label labels to distribute my music? >> look. if you're a huge artist like taylor swift you are using a label why if you're a smaller artist you don't need a label and can benefit from using the platforms. they take care of the nuts and bolts like getting a song to an apple music, a shopify and they help with merchandise. if you're a young artist you might not know how to sell rights to the songs to be played

by the nba or espn so companies like united masters have deals in place so they can help the artists get the advantages of scale of working with a larger company. >> the moment i have been waiting for. >> yes. >> this weekend -- recording some songs. >> all right why yeah. record, distribute oh boy thank you for watching "power lunch." >> "closing bell" starts right now. >> thank you happy friday welcome to "closing bell." i i'm sara eisen here at new york stock exchange the dow is pulling back. the nasdaq is jumping. could close at a record yield. >> i'm brian sullivan in for wilfred frost once again coming headlines from europe sending the market lower this morning. austria will go to a lockdown. germany, as well house of representatives