we'll see. obviously some of the megacaps in the nasdaq all of a sudden look like they're reasonably valued even if a snap down 85% from its high, the numbers still don't seem to work that well >> even more unsettling. that's mike santoli. see you tomorrow "fast money" begins now. right now on fast, in a snap, one warning from a relatively small social media company sparking a sum of all fears scenario rippling across america. why snap's macro worries have the markets concerned about a lot more than just online advertising. plus, julian emanuel will be here and he's sticking to his guns saying the s&p will finish the year at 4800 that is a jump of nearly 25% how he says we'll get there. and later, nordstrom surging

we'll dig into the numbers and guidance straight ahead. i'm melissa lee. this is "fast money" in the heart of times scare on the desk tonight, tim, dan, guy. they wear ties we start off with a little social media company that put a nearly half trillion dollar dent in the market. its worst day since going public, but the impact felt way beyond social media. the concern it raised over everything there ad targets to the jobs market to the war in ukraine, sent shares of big tech tumbling so how could snap with essentially one product spark such a strong reaction and is it a canary in the coal mine, guy? >> well that's what rick seemed to indicate. you just heard him on the overtime he likes names other than facebook he likes google here performance advertising.

makes sense. is it a canary in the coal mine? absolutely i think snap is not just snap specific and the fact that now you're talking about companies hiring freezes, laying people off, cutting cap ex, that goes across a spectrum of sectors even if they don't make the $7 billion in revenue expected next year, say it's 5, right now, it's trading about four times revenue which i don't think is ridiculous i think it's a valuable asset. traded ten times normal today. 280 million shares weeks of capitulation to me. >> it's one thing to say pinterest was down pubmatic when you talk about apple being down as much 3% at one point in the session finish down by just about 2%, dan, i mean, these are concerns that really strike the never of wall street right now these are things we all worry about that we haven't seen the full impact of rising rates, of

supply chain issues, et cetera >> when you think about how they rely on a chinese consumer, but also rely on the supply chain and the manufacturing that exist in china, this is a really important time for them because sooner or later, they're going to have to go beyond them saying that we're supply constrained, right? they may have to say we have a demand problem in china. that might be relative to some sort of geopolitical situation and we might see a hit to their margins. who knows. i don't disagree with guy whatsoever a canary in a coal mine. we hit it on the desk last night as the news was coming out go back a few weeks in mid april when netflix surprised stock was down 35% they were telling you they were having a problem a demand problem what are they doing? they want to go to advertising what did snap tell us? advertising is a tough digital moment so i think we are not closer to

the end of this, people. this is going to be something that roils lots of different part of the consumer market over the next few months. >> the interesting thing is that we seem to be falling on the same concerns over and over again. and they're coming from different places like a walmart and a target and now with snap yet it's the same basic concern that we continue to decline on >> it's growth over inflation. and that's the concern of the front of the dashboard here and if you look treasury yields and what happened to the curve steepen which means you saw a rally from the short end where the view is the fund can move less if you look at the fed fund futures, taken off about 15 in the last 14 days the market is makes the call the market's the one we listen to and the market said what it said today, but snap is not facebook it's not apple snap is a company that going into the crisis was having a lot of problems. this is a company that was a $3

stock in 2019. i'm not going to tell you that st snap is the reason we should be worried about growth i'm going to worry about housing starts that were down 15%. dynamics from other companies, but we got the green chutes from a post recession rally in a lot of consumer stocks walmart was higher defensive consumer staple stocks were higher. i know that's not a reason to get excited, those are defensive moves, but to say this is a time to hunker down, i've added to walmart in the last couple of days and i think snap, yes, has a major impact i understand the move on facebook, but i do think we have to have careful about saying snap is an indictment of the entire growth story. >> so i can understand the argument in terms of not extrapolating snap to the overall market i think tim makes a good point i understand that. but i think you can made a read through to is the surprise of the consumer still to be there it was only a month ago that

snap came out kind of knocked the cover off the ball guided forward then it's a month later where they're guiding down and telling us they're now seeing this quote unquote unforeseen softer demand it's one of two things either companies are reluctant to admit there is softness there or this volatility or surprises isn't just endemic to snap that's where it probably has implications for the overall market >> here we are, we've got a couple of months where we don't have a read yet. that's the fear. that in between the last print and the guide given at the end of the first quarter, excuse me, and now things have changed. i think that is what, right, dan, that was what snap encapsulated >> on the set last week, ceo of target actually said the same thing about consumer behavior in such a short period of time. so we start seeing this rack up. we had this conversation i think a couple of days ago on the

desk well, most companies keep telling you demand is there. talking about jamie dimon talking about consumer credit yesterday. but that's the case until it's not. you have to think ant this as a mosaic this is not a buy the dip economy. it's not a buy the dip market right now. we're in a different market and if you go back two years when we were in the black hole of the pandemic, it took trillions of dollars of monetary and fiscal stimulus to a reversal this is not going to be reversed as it relates to snap, i bought a little today last time it was trading at 12.79 was april of 2020. they closed the year with $2.5 billion in sales. a low 50s gross margin here we are two years later, expected to have over $5 billion. 7.5 billion in sales next year margins are supposed to be up ten points from that period. so if you're telling me the stock was overdone, i believe in the next five years, the next

bull run, a stock like snap will have a $100 billion market cap >> there are stocks to buy here. that's the only thing i want to push back on i don't want to die on the hill of hey, this market's fine the economy's fine because i don't believe either i believe that banks have held on to their gains. we're going to talk about in order nordstroms you have a case here where i just think there are places where you can invest energy i know energy is 4.9% of the s&p, but by the way, that was 2.9 of the s&p at the end of the year i talked about how the increase in the energy sector is something you can get behind that's the message today is that we heard awful news in realtime out of snap but there are companies that haven't seem that same segment go away >> a lot of analysts came out in talking about snap and the related companies that there has been a reset effectively

a lot of analysts have cut estimates for revenue growth specifically for 2022 and '23 in the space. is this reset though enough, guy, or do we not have a handle on how much it should in fact -- i mean, if snap doesn't have a handle, should the analysts have a handle we are talking about earnings estimates having to come down. >> dan brought up target if you think about it, clear the market doesn't have a handle on it a company is size of target can move 25, 30% in a day. walmart, 15% we've seen these moves across a spectrum of names. that means a market by definition doesn't have a handle there's no reason to think we should now the real question comes down to at what point do you feel we've capitulated? i would say, i'm not suggesting i'm right, it's just my sense. the only panic i have seen over the last couple of months have been to the upside in some of these days today to a certain extent in the dow, not really, but you've seen

these ridiculous upside moves that have been met by sellers. the selling to me has been orderly. when that flips, that's when we know it's close. it hasn't happened yet >> this just coming out from "the wall street journal." lyft to slow hiring and slash some department's budgets. we've been talking about this in technology, how companies are going to start re-examining. if you extrapolate and think in this kind of environment, what do companies do? hunker down. they want to prepare for the worst. particularly when the stock price has been decimated what do you do that then has ripple effects on the consumer of course that gets to the core of it. >> it does at least to lower employment it's not just uber not just snap. it's netflix you're seeing it across the board. now i'm going to bring this kind of full circle there are companies that you can buy and to your point, tim, i think you're spot on the question is the time horizon

under which you're willing to deploy capital a name like facebook, apple, both of which have come in a barrage of downward selling pressure when you look at their cash balances and you talk about shoring things up, those are very symbolic of companies that are shored things up so when you do deploy capital, those are the type of balance sheets you're going to look for in terms of establishing a long position >> i wanted to mention this about unemployment which is at 3.6% that's near the pre pandemic lows of 3.5%, which were 40-year lows those are the pillars of the strong economy thesis. here's the deal. i think it's really clear that's going up, right? so we have the negative wealth affect from the stock market that's down from 20 to 30% as far as the nasdaq is concerned and tim, what you mentioned about the housing data, it's turning. the 30-year mortgage just doubled in the last few months

so you put all that together here and you have the case with rates, with the fed continuing to raise 50 in june and we know that the lag between what the fed is doing as far as raising rates is what three, six, nine months or so, we have a slowing committee. there's a very strong likelihood now that the u.s. is going to be in a recession at some part of 2022 and europe is very likely to be. >> and for the purposes of the "fast money" split screen, i want to say something to depose what you're saying because i think there's a healthy debate i think snap probably did a job of assessing in their first quarter. why do we think their numbers are drastically different? we're talking about snap here. i think there's a lot of reasons you can say reactions like today might be overdone. you bought snap. and there are opportunities to first of all to be trading through. i actually believe employment's going to get a lot worse ik the consumer is going to get smacked over the combination of their spending power is eroding

by the second and again, lower income and earnings segments i think are going to fair the worst, but right now, luxury is alive and well and we're seeing that in the numbers. >> let's bring in joe, general partner at human ventures. great to have you with us. >> thanks for having me. >> i would imagine if you're a private company and you're watching what's happen ng the public markets and those market caps are getting halved that you're girding for the worst so what are we actually seeing out there in terms of a slowdown in spending, hiring, et cetera >> i think the first slowdown in spending in vc backed companies are ones spending for growth rather than profit i hear a lot of people talking about how google, facebook, amazon and snapchat are performance advertising, but there's different types of performance.

performance for sales which drives revenue and for installs of apps. that's being funded by a lot of vc growth capital. as those go down, it gets cheaper to buy sales and revenue so i think you'll see room on that side. >> what would you say would be the most immediate knock on effect let's say that snap is a beginning for a trend of the balance for this year. what are some other areas you would expect to be weak in this ecosystem? >> so first, i'd caution saying whether snap is a great indicator for the whole sector i think you know, twitter has a very different advertising makeup more brand advertisers, more like what you would see on commercial breaks. whereas facebook, google, amazon are more direct response marketers and those show up in the market first snap is really interesting because it's kind of in between the two. it has more brand advertisers than facebook and google and

amazon, but more direct response than television. i'd caution that the last time snap underperformed then meta underperformed immediately after them, snap came right back with a big beat the fundamentals are the same. they're focused more on being a utility than a media company on the venture side, i would look at things we're focused ond buying growth and advertising versus building fundamental businesses ynl we've seen one of the biggest spenders in the entire market is crypto and i think you'll see a pullback in that spending >> joe, what happens to the so-called unicorns the big companies that are private now that were expected to go public in this market environment and what happened to those valuations >> i think you're going to see a lot. wait ones who are smart and will capitalized that were marking to public valuations will say now is not the time to go public not to be marked against that. the ones that are strongest will

outperform because their competition will go away but they will slow down on the advertising side of things which opens up the market. but the thing for the audience like coming from -- there's a lot of other public companies in the advertising sector big ad agencies. vc advertising spend is such a small portion. what makes up facebook's advertising spend, so little of it, is the proctor and gambles, unileavers i think that's still showing pretty strong. >> joe, thank you. we've got to get to breaking news on the deadly shooting out of texas >> the details are coming in 15 people total are now dead most of them students in that school one teacher from uvalde, texas. a small town about 80 miles west of san antonio and about 60

miles east of the mexican border there. a school of 600 students for kids aged 2nd to 4th grade the suspect was in custody at 1:00 local time, 2:00 eastern, but now we're told the gunman, an 18-year-old, is dead. police are giving a statement now. let's listen there was a mass casualty incident in uvalde, texas. children in second, third, and fourth grade i can confirm we have several injuries adults and students and we have some deaths. the suspect is deceased. at this point. vps assisting with the investigation and it's leading to tell us the suspect did act alone during this heinous crime.

families are being notified and we are providing services to them as the district should as far as the rest of the district is concerned, safety measures were taken to ensure we had a safe release for the rest of the district. for the city of uvalde, and we had numerous law enforcement officers who assisted with those students we want to keep all our families in your prayers and we want to respect the privacy of the family again, we'll notify the parents and families as soon as we have news for them. thank you so much. >> statement only from police more information from the texas governor, greg abbott who informed us that 14 children were killed and a teacher killed as well. in addition, two people were taken about 80 miles away to san antonio to a level one trauma center where a 66-year-old woman is now listed in critical

condition and a 10-year-old girl also critical. we've been able to learn a little bit about what's happened so far th this is the reporting of nbc news and the investigative team led by tom winter. the suspect is an 18-year-old from uvalde, texas salvador ramos the texas governor abbott said he noted local reports that this man shot his grandmother then proceeded to his elementary school the shooter again is dead and believed to have been shot by police and this is an area where some of the information doesn't fit together perfectly we're confident of that matter, but there are also reports there was a chase of some sort with that 18-year-old we'll wait for further details on that. governor abbott says two officers were struck by rounds during this confrontation with the 18-year-old.

except to say they are not life threatening and the governor says are not believed to be seriously injured. texas department of public safety is on scene as are members of the border patrol just 60 miles or so east of the mexican border there as well as uvalde police and county police on scene university health in san antonio has just received those two parents and all the other kids in the school have been taken to a local civic center there where parents are allowed to come and pick them up the notification process we're told is still underway we're waiting to find out exactly what the motive might have been. if there was anything that led up to this why in the world an 18-year-old man would go to this school and murder so many innocent children we'll have all the details tonight on the news. 7:00 eastern as they come to us our correspondy correspondents .

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reporting a beat on the top and bottom line. let's get to diana olick to break down the report. diana. >> i think this is all about price point, melissa it really had to do with it being the high-end homebuilder you're talking about an average home price of $900,000 the buyers not being affected as much by the interest rates really interesting in the report that they kept their guidance of 20% revenue growth for -- the ceo said that while demand is still solid, over the past month, it has moderated from the unprecedented ways of the past two years as buyer adjust to higher mortgage rates. the other conditions, the stock market, inflation, the fed raising interest rates that are hitting these higher end buyers. it's seen this abrupt turn in may because we didn't really see the drop in march and april.

we saw homebuilder sentiment dropping, but again, we didn't see the big drop until may >> thank you again, we hear about the change in may guy. the change in may. >> i'll say this about toll brothers there are things you can buy for trades here and i think toll brothers might be one of them. bear with me for a second. back up 35% year-over-year that's very good i'll make a valuation case this move down to 44.5 is a 50% retracement of the march 2020 low and recent high we saw in december and january i think it's okay here >> i think there is a risk that the homebuilder sub sector overall has been a value trap. there's been a lot of discussion around the fact they are amongst

the lowest multiples of publicly traded companies wh with that said, when we were in the throes of the pandemic, we talked about a v-shaped recovery versus a k-shaped. this is emblematic of a k shape. i think these are the names that are going to fair better these discount retailers >> we're seeing big pops in the afterhours as well as williams sonoma >> reports tomorrow after the bell i'm fascinated by rh and williams sonoma. it's down over 50% williams sonoma on estimated pes from next year is 6.5 to 7 hardly expensive i'll argue the same point that i think their consumer is in much better shape i think they're one or two quarters out from a disaster and i've liked this company for a long time, but when you look at the pull forward on demand, at

some point, you've got a consumer that's going to run into headwinds on inflation. these are companies whose guidance to me is very interesting and we've seen them underperform for months and their multiples look interesting, but right now, i think you have to wait >> at what point do we get concerned about the higher end consumer we've heard from a lot of luxury stocks they were pretty decent, dan, but what we're hearing for toll, there has been some impact the market in terms of it being down and the wealth effect being negative >> look at american express. the stock was making new all-time highs a few months ago and it's come in 20% in a straight line. that's a company that put up a really good quarter. when you think about the luxury market, parts of europe that are going to be affected parts of china to me, i just think that this is a really tough environment and i think we're starting to see things kind of stack up. little by little i think again, every time we get to hear a company speak on the back end of this earnings period

where we thought we were kind of out of the woods in mid to late april and now we're hearing bits and pieces, this is like, it feels like it's a slow moving train wreck. >> again, we have an acid bubble in housing it's not yoga teachers flipping houses there's been institutional investment even less affordable >> does it maker harder for the fed that's -- >> i appreciate you raising that >> for the fed to slow down the housing market if there's an institutional backing? >> i think it's harder and the market's going to have to decide for itself you buy much less house at a 6% mortgage >> the dow managing to finish with gains after falling as much as 515 points, but nasdaq tumbling more than 2%. ten-year yield falling to its lowest level in over a month let's get more from julian

emanuel. great to have you with us. i was reading through the notes and it sounded pretty gloomy then i get through target, which is 4800 on the s&p 500 and i couldn't figure out what kind of path you saw to 4800 if things look so dire >> so basically, look, we have to acknowledge that you know, friday you hit the bear market level. down 20. then the question whether this is a non-recession bear market and we see growth slow down, or a recessionary bear market the difference really means everything and from where we stand, the path to higher prices really is a function of being able to discount the macro news and focus on the fact that you're still going to have mid to high single digits earnings growth and what you really had is a valuation impression catalyzed by a rise in bond

yields which by all rights is either cooling or has ended. >> may i interrupt you, julian something just didn't strike me the right way when you said let's ignore the macro environment and believe that earnings will be this percent. doesn't one depend on the other? doesn't earnings depend on the macro environment? isn't that what we saw with walmart? with snap? >> and there's no question about that but when you look at some of the components that really point out stresses in the system they are not there. credit is a very important one if you look at the credit markets, they have a harbinger of recession time and again over the last 20 years and you got commentary yesterday from the head of the world's most important bank saying the credit markets were healthy the consumer obviously is stressed there's definitely pockets we're seeing it today in some of these reports that the stress is

not as pervasive as we thought looking for 1.4% gdp growth in 2022 is very different than looking for a recession and in terms of the market, really is an extremely material difference >> julian, 4800, obviously a big jump from where we are now i think you would submit maybe we have a little more on the downside what sectors are going to get us there? because obviously in doing your work, you have to target certain areas that are going to provide the strength >> right so the first thing and when thinking about the last month, what we overlooked was the public's desire to sell stocks our view was it was likely a tax driven event but frankly, the last month has been much more of the public selling because essentially growth stocks are where the public is overexposed. in our view, this is likely to be, and you saw it on a day like

today as some of the indices recovered, a value-led market. financials, industrials, particularly healthcare. very defensive really insensitive to yields and geopolitics, but we think the shift from growth to value is ongoing. but again, the bull case rests on essentially a drying up of the public selling of these stocks which we think when they figure out or you know, the circumstances show themselves that the employment situation remains strong and that inflation, in our view, is peaking perhaps later this summer we think actually the physical peak did occur but when things turn down, that will be a more benign environment for the equity markets. >> julian, always great to see you. thank you. >> thank you

>> you saw his favorite sectors. healthcare is number one he would recommend deploying cash into healthcare neutral on energy. tim, do you like these sector allocations? >> how can you not i think healthcare will continue in the political theatre and pharma sectors at times has been more intense and maybe that's something we should be worried about, but i think energy, i'm going to keep saying it. the waiting in the s&p was 16% at the peak in 2008. we've already seen it effectively double since the end of the year. i just want to say one thing about credit, too. i think we're smart to be bringing up. maybe we're being overly doomsday on this but when i look at the bank of america oas high yield spreads, the spread of what you're willing to pay over treasuries and high yield, we're at 5%. we're at 3% a little while ago what was the last period we had in markets outside the pandemic we thought was a stressful credit time? the fourth quarter of 2018 and got to a high of 530

we're almost right there and at this time, we were acknowledging we had credit issues >> and this is happening in just a span of a few weeks. that jump. what do you make of the 4800 call >> i have a hard time getting behind it. >> i feel like you wanted to say something else >> let's not put words in my mouth. i think we're going to take the high road here i think i can follow his logic in terms of getting there and his sector allocation makes a lot of sense, but i'm having a hard time wrapping my mine around how if we're going to see compression in groupt and that's where you tend to see the earnings growth, how are we going to make that up in terms of lower beta sub sectors? that's where i have a hard time reconciling the price target 4800 is high we expect to see continued outperformance in healthcare and energy >> i guess the real question is again, you guys are talking a

about buying for trades. we also recognize the fact that a lot of our viewers, a lot of retail investors should not be shorting stocks. we talk about the options. got a great show friday at 5:30. there's a great chance to bet against long positions i guess the point is, when do you want to buy for those bounces. we've had two 10% bounces off of lows julian's going to be right that we're going to have a very violent rally at some point. it could come from lower it could end up at 4600. it's like throwing stuff up dwen against the wall to see what the number is. we've had the price come down. haven't had the e come down. when that comes down, that's when you're going to start thi thinking about what's the proper valuation, the proper multiple you're willing to pay and i think the next rally we top out in before we have 2022 estimates really come down to say mid to low single digits year-over-year growth, i don't think it's going to be 4800 where we bounce to.

coming up, chip check. nvidia results tomorrow. that action is next and you're watching nordstrom after hours the stock is jumping we'll bring you the numbers when "fast money" returns

facebook's products harm children, stoke division and weaken our democracy. teens blame instagram for increases in the rate of anxiety and depression. it's not great when your customers are voting with their feet and deciding to kind of walk away. facebook's parent company meta dropping more than 26% last week... that is more than $230 billion in market share value. when will there be accountability? how many more people need to be harmed before mark zuckerberg listens?

welcome back news alert here on wendy's surging in the afterhours on potential interest from a hedge fund kate >> shares up over 16% after a trian filing shown the firm is exploring a potential transaction for wendy's. in this filing, they say this could include an acquisition, like a merger, or other transaction that would result in the acquisition of control of the company by trian or its affiliates they own a nearly 20% stake in wendy's. so they're exploring the possibility of a transaction

the stock up by more than 16% now. >> thank you guy, what do you make of this news >> smart thing to do is sit back and watch. april 2020, this was a $16 stock and look what happened anytime nelson gets involved, 19.4% stake, good things typically happen but if you want to take a flier here against this recent low of 16, i'm all for it because you know, when nelson puts his mite behind something, it typically works out. when he's involved, good things typically happen >> all right let's check out nvidia getting caught up in today's tech sell off. reporting earnings tomorrow after the bell and options traders are very divided over where the stock might end up when the results cross the wire. mike has the action. mike >> this is a name that has moved an average of 4% over the last

eight reported quarters, but right now, the options market is implying a move of over 10% by the end of this week and we saw big trades in both directions on the bearish side, one of the larger trades was a pucrchase o the june 151 put spreads for that to be profitable, they had need to decline by 10% that 130 level not one we've seen in a while. on the bullish side, we saw some june 3rd weekly 180 calls. those trading for about $3 that was need a move to the upside either way, it seems options traders are divided on the direction, but not the magnitude of the move. >> mike, thank you for more options action, tune in to the show friday, 5:30 p.m. eastern time coming up, nordstrom on the move shares are jumping we are digging into the numbers, next plus, mckenzie scott writing another huge check for charity this time for a youth mentoring organization

the group's ceo will join us in just a few to detail how they plan to use the money. don't go anywhere. "fast money's" back in two

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mixed quarter for the luxury retailer posting a slightly larger loss than expected. let's get to courtney reagan with the details >> hi, melissa like walmart, target, best buy, abercrombie and others, beat on sales, but unlike most others, they upped their earnings outlook for the year well above consensus. total sales grew 19% digital, flat. inventory slightly outpacing sales growth 24%, but the company points out a quarter, actually a pull forward of anniversary sell merchandise the off price division up more than 23%, though nordstrom rack and digital sales grew more than 10%. that's a sequential improvement, but still below pandemic levels.

that area has been a concern for investors. merchandise margins improved thanks to lower markdown rates apparel, shoes and designer were the strongest categories year-over-year as customers refreshed their wardrobes. shares are up more than 11%. back to you. >> so they don't see any kind of slowdown at all in the month of may as we've heard from others nothing? >> yeah. i mean, they, and they said things were looking pretty well. things were trending up. they said the new york city actually was the strongest store year-over-year, which of course you might remember is pretty good news since they spent many, many years building it, billions and dollars and opened it shortly before the pandemic set in >> thanks. >> thanks. >> how much of this is a read through to retail versus the high-end consumer? >> i think it's both i think in the case of department stores, you have a chance to evaluate their move to

digital. their better management, loyalty programs things that have been beneficial to macy's and nordstroms i think macy's has a greater digital sales growth and is a lot cheaper. i talked about this yesterday. i think the risk reward to the upside for macy's, especially when you have a four and a half times multiple, they don't have a balance sheet issue. don't have to start adding up some parts on the real estate. talk about their business with a bid possibly to their online business i think it's a floor under the stock and i just think you're not going to hear the same kikind of noise >> i would think the macy's customer is more cakin to a walmart. so, we haven't done this in a while. would you rather, guy. nordstrom or macy's? >> you know, given the fact that i think they also announced a half a billion dollar buyback on a company with a $3.5 billion

market cap, i would rather jwn i think there's now a floor under the stock. not that it's some great bastian of fvalue, but i think the stock might be buoyant here for a while. >> all right coming up, another big donation from mckenzie scott. we'll be joined by the ceo of the organization to find out what his goals are for the group. don't go anywhere. we are back in two

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with no line activation fees or term contracts... saving you up to $500 a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities.™ welcome back mckenzie scott announcing a donation to big brothers big sisters of america that is the single largest donation in the history of the donation joining me now is the ceo. the fastest growing age group, 18 to 25-year-olds looking for mentorship how will this be used? >> yeah, we're going to use it to really support, we're the largest provider of youth mentoring in the country and we're going to use it to help support kids to find their career journeys, scholarships, internships, job placements.

who they can see and understand and have that connection with it will go towards finding jobs, careers and their life's journey. >> how has this mission changed because of the pandemic? i would imagine some of these folks, you know, they didn't have any in-person work experience and here they are going out in the work fforce no. >> that's right. w one of the big ways we changed is through the use of technology we found that to be not just an enabler, but a way that we're able to support and help kids stay connected with mentors, school systems and partners. so it made us have to be more creative and be straightforward with youth and work with parents, supporters and putting young people in the middle of our work that's what we do every day with our corporate partners who really engage with our young people and we serve as a bridge to help them do that >> i'm so proud of what you've done

you took over from tan scott has said she's watched the organization now for a few years. i'm sure you had conversations what did she see to make this extraordinary donation >> yeah, i think one of the biggest things she saw was the idea that we have the opportunity, we have the scale, 230 local big brothers big sisters all across the country we have the scale to make significant impact we have the evidence-based programs in sensory. thinking about how do we connect with what's going on in our country in terms of the economy, how companies want to engage theiremployees to have more diversity and more di vverse populations and finding a population that reach kids of younger age and help them transition to a place where they can be successful. our largest growing population of young people is actually 18 to 25 young adults and we want to continue to grow and make

sure that's more robust. >> financial literacy is the pillar of the program, which i'm really happy about i think that young people should learn, especially during tough times. that's the most important time to understand the power of your money. how is that change or challenge during this time where the dollar goes not as far as it used to just a couple of months ago in terms of inflation? >> yeah, well, what our kids are learning, and remember with a lot of our kids because many of them are first generation when they go to college so in a lot of ways, sometimes they don't have the opportunity to get some of the types of engagement and connections we think about. one of the things we work on, how do you balance a checkbook how do you think about the common things of opening up a bank account how to use credit cards? this is what mentorship does to think about the every day things we think about in terms of balancing our budget.

living a life around savings and understanding your investment. that's part of the mentorship journey. we expose kids to that experience, but also connect their families as well in terms of how we build our mentorship program >> artis, thank you for all the work big brothers big sisters of america does >> thank you so much >> dan, you've been part of this program. >> really amazing program. i had the benefit of mentoring a young man who was 10 years old in a different spot as what artis just said. get involved, people i know guy's been involved and i'm sure you guys spend a lot of time mentoring people. >> and this age segment is so important. you're getting people at a time in their lives where first of all, they are excited to embrace the next challenge, but the educational tools. it's not just about money. it's about providing the resources to help people take that next step it's about entrepreneurship and learning that. again, 18 to 25. you've got young people when you

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emerging investors are absolutely investing with their heart. they're two times more likely to invest in companies that have social and environmental goals. ♪ ♪ there are so many more young investors coming in and participating in the financial marketplaces today, and that's really due to advancements in technology. there's a proliferation of innovative technology solutions to be able to interact and invest in the financial markets. younger investors today are engaging in social media in ways that we've never seen in the past. they're in forums, actively engaging with their peers on certain topics and certain investment ideas. 75% of them believe that their investment decisions can influence climate change,

and 90% of them want sustainable investing options in their 401(k). they believe that they can really impact with their investment dollars more so than prior generations. i'm naeema huq abrar, and we are morgan stanley. (all): all hail, caesar! pssst julius! you should really check in with your team on ringcentral. oh hi caesar. we were just talking about you. yeah, you should probably get out of here. ♪ ringcentral ♪ back to shepard smith. >> 15 confirmed dead

14 children we believe from this elementary school, rob elementary school in the town of uvalde, texas. population about 15,000. just 80 miles west of the city of san antonio we now know that 14 children from grades two through four are among the dead victims as well as one teacher in addition, two other victims flown to san antonio to a trauma center there university health, university hospital in san antonio, a 66-year-old woman critical and a 10-year-old girl critical. nbc news has learned some about the suspect in this case his name is salvador ramos an 18-year-old who is said to have lived recently, if not prior to his death today, there in the town of uvalde. the governor, governor greg abbott noted in a news conference just about an hour ago, he noted local reporting that the shooter had first shot his own grandmother. either somewhere near the school or somewhere nearby before going

to the school itself again, the suspect shot and killed reports indicate he was shot by local police right now, the texas department of public safety border patrol is about 60 miles away from there. route local police and sheriffs as well in addition two officers were struck by gunfire in this incident those two are local officers said to have been grazed by bullets. neither of them suffering serious injuries as described to us fourteen more people were taken to a local hospital there in uvalde they do not have life threatening injuries, we're told, and again, the death toll is 15, plus thesuspect in this case the kids from the school were all taken to a local civics center where parents were able to pick them up from school and certainly many families still waiting on details of what happened insid