the first time your sales reached 100k with godaddy was also the first time your profits left you speechless. at the counter or on the go, save 20% with the lowest transaction fees and keep more of what you make. start saving today at godaddy.com welcome to "power lunch. alongside kelly evans i'm dominic chu in for tyler mathisen today coming up, searching for answers.

alphabet's ceo warning about artificial intelligence saying every product of every company will be impacted and society is not ready. we'll discuss that and a potential major move by microsoft coming for google's own turf. >> plus, the state of housing as we enter the spring selling season are buyers getting used to the new normal for mortgage rates. we'll talk to realtors about what they're seeing. we'll start with the washington area a check on markets, we're moving more to the downside dow down 78, s&p down to 4123, nasdaq down 0.4% let's get to kristina partsinevelos for more of what's moving today. >> i like that stocks starting off the week frackly lower. wall street is waiting for a lot of corporate earnings. let's start with movers today. moderna, shares are down over 7% even though the pharmaceutical firm shared positive results from a trial of its cancer vaccine. the mrna cut the risk of death

or reacurrent of melanoma by 44% combined with merck's immunotherapy. some analysts are worried about the treatment's successful approval and that's why your seeing shares down roblox tumbling after the gaming company showed a potential drop in average bookings per daily active user compared to last year daily active users, hours engaged and estimated bookings and parents can vouch were up from a year earlier. shares down over 12%. asml leading the smh, semiconductor etf to the downside the chipmaker headed for its worst day and week since this past december after taiwan daily economic news and digit times reported taiwan semiconductor considering cutting capexoutlook, not immune to demand weakness. be tsm set to report quarterly results thursday morning very early. >> kristina partsinevelos, thank you very much. lots of google news today as

the company reportedly is planning to release a.i. powered search tools next month. sundar pichai warning about potential harm from artificial intelligence. >> it will be possible with a.i. to create, you know, a video easily where it could be saying me saying something and never said that and it could look accurate a societal scale can cause a lot of harm. >> google shares down 3% right now. alphabet, parent company, following a report that samsung is considering swapping out google and bringing in the microsoft product as the default search engine for phones so we've got a big package discussion right now let's welcome in cnbc's tech correspondent steve covac, along with arun sandranjun nyu school of business, and the managing director with roth mkm, he has a buy rating on alphabet and $126

price target so thank you, gentlemen, for being here right now steve, start with you with the bigger picture story about how important a.i. is. >> right. >> to microsoft and amazon and every other -- >> important to everyone if you listen to sundar pichai. it's important to every company is going to be using this, one of the fascinating things in that "60 minutes" interview. what struck me what we're seeing between microsoft and google, they're warning before they start breaking things. this is coming with social media and youtube and misinformation we've been grappling with for so many years they apologize after the fact, after they start asking for regulation, now they're asking for regulation before they can fully launch these products at the same time, dom, we haven't seen our congress pass laws for child safety online if they can't do that, there's like little appetite to regulate something as wonky as a.i. they don't understand it. >> let's bring into the

conversation, what's interesting about this right now, and i think kelly and i talked about this before, sometimes technology just moves at a pace that's too fast to regulate. in other words, we outrun some of the construktsz that we have for kind of establishing what the right and wrongs are about certain types of things. is this a situation where it's going to be years before lawmakers and regulators catch up to artificial intelligence? >> well, i think it depends on which country you're in. i see china move robust. they have regulations which will probably be passed this year that, you know, puts in measures to reduce bias, like restricts sort of that should be coming out of generative a.i., allows people to sort of own data that's used, so certainly ahead of the curve here.

i think in europe it's going to be longer. we're certainly moving faster today than we did ten years ago where the regular needs around social media were starting to emerge i think, you know, google's call for regulation here, it's surprising, but it could also be a tactic i think, you know, google sees for the first time probably a nontrivial threat to the business, and regulation slows down and gives google more time to catch up. >> absolutely. i don't think you're the only one considering that on that note let me turn to you and ask if you think that's what's going on here talk about it from the share point of view and the drop in google shares today? >> it is not surprising that google shares are weak i think they are in this big

sentiment black box starting since microsoft has been on an all-out aggressive war as far as pr is concerned and launching new products people are questioning whether google is truly the leader in a.i. remember, google, remember chatgpt is built on something that google released seven or eight years ago. so we think google is the leader in a.i., but they don't have direct to consumer products that people can tinker with and people can play with and get confidence i feel like they are in a black box of sentiment and stock will stay weak until we see evidence to the contrary. i agree with stock regulation. we don't expect that to happen any time soon. google is -- needs to play offensive and i feel they're just falling behind the pr campaign. >> before we move on from this, the timing now, where there are competitive suggestions people might look at other search options and regulatory threats that could push them in that

direction by breaking up preexisting deals, that's its core business. by the way, the trends show people are not moving to bing at all. there's no loss. these are competitive threats. how seriously do you take them >> i think less so from a samsung standpoint what if apple rethinks what they do on safari that's a payment from google to apple every year samsung is probably a couple billion dollars. when it comes to apple, that's where the question mark comes up and what the stock is doing today. the unknown renegotiation between google and apple happening in the next 12 months with a.i. grabbing a seat at the table that's where things start to move, and we don't know if microsoft comes to the table, that is what is going to move google to the next leg. >> what's interesting about this, row hit basically calls and said alphabet is the leader

in artificial intelligence but what metric are we using a lot of folks figure chatgpt and openai makes microsoft the leader in artificial intelligence right now steve from that perspective, how do you characterize who is in the lead so to speak at .? >> apple will tell you they're a leader because the yr iphone. >> amazon. >> amazon announced a bunch of aws products to train these models it's hard to tell. you can't say who is the win are or loser the stock moves we're watching today, there are important context that we just alluded to, the payments that go between the companies. even if samsung was seriously considering moving over to microsoft, does microsoft want to spend 3, $4 billion paying samsung to be the default search engine does microsoft want to pay apple $20 billion to be the default search engine. >> these are those so-called

tax. traffic acquisition costs. that means -- google pays mozilla, firefox web browser, tons of money to be the search engine pays apple again reportedly $20 billion a year microsoft is not a search company. do they have $20 billion to spare every year google needs it. they need iphone users to be searching google and not somewhere else even if someone wants to switch over whether or not they have the money to do it is the question. >> i mean from a competitive point of view, if i were microsoft i would spend more than $20 billion to get my competitor right there commenting on, that as you mentioned, you know, google had the a.i. technology, but they don't have the consumer product chatgpt is the consumer product. they offer plug-in with things, you can do neat -- clearly what started as not a consumer oriented company is becoming one and that benefits microsoft because they have a share in

them how else as they continue to evolve does that impact your coverage >> i think it's going to be a fascinating few months how consumer products built on top of a.i., a.i. products, are coming to market and disrupting things that nobody can imagine right now. i feel google by what we heard from sundar last night they're -- that direct to consumer road map and next six to eight weeks i feel that they would give some comfort and confidence in the stock, whether that translates to numbers - >> and to -- i guess some, you know, a part of what gives i guess -- google this is microsoft, this is not apple, you know, microsoft has historically been a business company and a tremendous amount of opportunity for large language models and a.i. will be

space and microsoft will own that. >> yeah. >> but on a consumer point of view i think part of what makes this complicated for google, is that one of the antitrust cases against them is precisely about these fees and acquisition fees they're paying apple and samsung. they have to tread lightly in terms of their response. >> arun we'll get that audio - >> i like it. >> fixed the next time. >> good for a tech segment. >> exactly throwback. rohit and arun, thank you for being here. >> before you go, what's the latest with apple finally putting into action something they announced a while ago shares down a half a percent. >> this is their high interest savings account part of the apple card which is a normal cash back card, make 1 to 3% cashback on your purchases now they let you dump the cash back into a goldman backed high interest account 4.15% annual

interest rate on this. >> no limits, no bear minimum, no minimum balance it's free for any apple card customer to use. >> the big story here for me is goldman is still there, still present with regard to lending and banking. >> and we know how much trouble that's gotten them in too. they're still in bed with apple on this one for sure. >> steve covac. coming up the state of the housing market we're heading to washington to ask a local realtor what he's hearing from buyers as the spring season gets under way an embarrassing flop for netflix ahead of the earnings report tomorrow the shares down 2.5% drop nor for roblox as the numbers disappoint the shares are down 12%. those stories and much more coming uonpor ncp "weluh. you ok, man? the internet is telling me a million different ways i should be trading. look! what's up my trade dogs? you should be listening to me. you want to be rich like me? you want to trust me on this one.

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welcome back to "power lunch. spring is the crucial time for the housing market and we're about to take a closer look at what's happening with a realtor, but first, let's get a quick check from diana olick on the latest numbers around housing. diana? >> we're getting a ton of monthly housing data this weekend. it started with builder sentiment which rose slightly but in negative territory. two out of three of its components, current sales and sales expectations over the next six months did crack into positive but buyer traffic, the third one, still low one interesting note, the builder said one third of housing inventory is new construction compared to

historical norms of around just 10%, so that's close to a record, and it points at the real shortage of existing homes for sale, not to more construction, because housing starts haven't done much lately. that speaks to what's going on in the housing market overall right now. demand is still quite strong, but supply seriously weak for existing homes new listing down about 25% from last spring and we were already seeing a shortage last spring. a new survey from realtor.com found more than half of the people who say they currently want to sell their home to buy a different one, they said they are all waiting for mortgage rates to drop before they list and that might be a problem because rates are up about 20 basis points since last friday. >> up, wow thank you. this as the spring housing season is ramping up let's check in on the state of the real estate market across the country since summer vacation hasn't started we're not doing a full road trip, just a day trip the d.c. metro area and here to give us our tour is senior vice president at ttr sotheby's

international reality. welcome to you good to see you. >> thank you, kelly and dom. >> so look, anecdotally, still crazy out there. open houses down, 1:00 saturday and sunday you see loads of cars, cash buyers in the market no inventory what do you see in washington, d.c. >> so we're seeing a strong market the market froze up as interest rates doubled at the end of last year but in the last 75 days the historic spring market has kicked into gear the real rubber on the road will be what happens at the second half of the year if the rates stay high and the cpi number doesn't moderate like it did last week. >> cory, i wonder, though, how much then can anybody at this point, real estate professional or otherwise, glean about this spring selling season if there

are this many externalities and abnormalities at play, can we trend wise establish anything worthy about the data that we're seeing in the housing market right now? >> well, year in and year out, the time period from march 1st until the end of june, is always good even in the worst markets, those are good months. as i said, second half of the year is going to be all important because we're dealing with low inventory, but the rates are still very high and to get sellers as diana just mentioned to get sellers to sell to move to another property is problematic because they don't want to trade in their 3% mortgage for one that's now in the 5.5 to 5.75 range. >> so cory, i won't get into the $40 million -- $49 million for daniel i want to talk more the everyday stuff. a bifurcation taking place which is good to think about a bunch of houses are going right away, 50% first 30 days on

the market but the ones that are starting to see price reductions, aren't they, how is that different from the market from last year and the year before >> so we're getting a much wider experience on listings right now. many properties are selling the first weekend with competitive bids and escalation clauses. but we're also seeing more and more properties sit on the market ones that would have otherwise sold a year or two ago what's happening is that those are only going to sell with price redubses or seller con -- reductions or seller concessions. having lived through the correction of 2008 and 1991, is that we're going to have more of those properties as we get through the next year or two. >> cory, since you opened the door so to speak on this, is a 2008-2009 type scenario coming for the housing market, not just in the d.c. metro area, but other markets around the

country? there are hot ones out there in places like arizona and florida people are saying hey, this could be something that is a real risk. >> i don't see it. 2008 was a shock to our economy. you know, the ceos of all of our major banks met at the treasury department to save the economy over one weekend this is a much more normalized correction it's exactly what the fed set out to do a year and a half ago. it's having its effect and going to have more of a cumulative effect as we go further into 2023 and next year. >> and then finally, you know, days on the market nine average for march versus 2030. some of that is seasonal you do have 20% more inventory than last year at what point do you think we will not be talking about a pandemic, goosed type of market? what point do you think we'll normalize? this fall, next year, couple more years >> i think it's going to take time for that existing demand

from younger buyers to play out. you know, this younger group we're told about ten years ago that buying a house was an investment not part of the american dream we're seeing they're cascading into the marketplace as long as those families are being formed, i think there's going to be decent demand. and we have to hope that the inventory picks up because we don't want to squeeze all those new buyers out of the market. >> he yeah absolutely cory, thanks the surprising resilience remains a theme. >> i have tollell you the numbeo conversations of people that will not give up their 3 handle mortgage and even if they want to move, they're not moving because they don't want to give up mortgage. >> we've seen analysts say the biggest catalyst for the market to normalize for interest rates to drop again. >> back to where they were. >> exactly. >> further ahead, convenience or

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welcome back to "power lunch. dow still down 45, the s&p down 25%, the nasdaq down 0.3%. the russells were positive let's get to bob. >> we're even on the advance-decline line banks are doing better, that's the main story, consumer staples, got momentum. semiconductors are running out of steam and so is energy, but it's been a great run for both of them. let me show you the financials because the banks are reporting, m&t good numbers, that's a relief schwab is up schwab is down 30% on what was going on with the banking crisis, but they had good numbers overall. they reported some serious drops overall in their deposit rate and said that cost of funds, paying more people was going to

weigh on their revenue zions wednesday, comerica wednesday afternoon. so we'll get more on this, but so far, better than feared is generally what we're seeing. in terms of what else is moving. mostly you're seeing consumer staples and consumer names in general. coke has been strong recently. walmart has been strong. mcdonald's is a monster. mcdonald's moved $20 in the last three weeks. that's a big move for a low beta stock like mcdonald's. it's running out of steam. and jpmorgan also has been a terrific performer that's a lot of momentum. there's where your main momentum stocks are going interested in why we're holding up well, we are 1% from a new high on the s&p 500. mostly because people are still invested in the soft landing hypothesis here. hoping for a final rate hike in may, inflation is cooling, negative sentiment is extraordinarily high that is good for the market. of course, china starting to reopen remember that's a big factor for the overall stock market

back to you. >> all right the s&p still above 4100 thank you very much for that let's move to the bond market. rick santelli tracking the action from the floor in chicago for us rick >> you know, dom, it's fascinating because despite much of the green we've seen lately in the equity complex, it certainly looks as though interest rates will continue to aim to the upside. let's look at a 2 are-year note back to early march on pace for its highest yield close since the 14th of march. little over a month. 30-year bonds as you see are right there as well. they're on pace for the highest yield close since march 14th as well look at the bottoms all slightly above 3.5% a very good formation to potentially retest at 3.90 to 4% area in 30s. wondering where 10s are, they're on pace for their highest yield close since the 21st or about one week behind from a historic perspective. now, let's really go to the

epicenter of what's changed. fed fund futures, even though it seems to everybody that if you don't want to argue about the last quarter point we're near the end of the fed run higher for longer may be true, but to think that interest rates have picked this particular time to move higher is enlightening when you pair it up against the dollar index and realize that fed fund futures are on pace for their lowest close since march 13th, or excuse me march 8th, which means that the lower they go the more fed you're building in, that normally helps the dollar index even throw the right side is aimed up there a bit you can tell that the half life of the benefits of fed fund futures falling hasn't had the efmany thought to firm up the greenback. back to you. >> thank you very much let's turn to oil now. closing down pippa tee vens for more. >> down more than be 2% does follow four straight weeks of gains. it had gone into overbought

territory. couple things to watch the stronger dollar which weighs on oil which makes it more expensive from foreign buyers. technical factor within play got within the range of the 200 day moving average leading to selling pressure there natural gas was up 7% last i checked. >> wow. >> yeah. 7.7% actually right now. eli ruben at ebw analytics say it's gas that's liquified and sent abroad, as freeport's operation get back on-line a lot of narrative has been around short covering when we got around the $2 level and unlike over the past few months this might be more than a head fake this time, that there are fundamental reasons driving it, meaning it could be more durable. it is nat gas. >> freeport operations getting back online and driving it, weather pattern shifts, colder temperatures for the next two weeks, updated over the weekend, leading to support for today.

>> is freeport fully open now? >> it's getting back there the demand is just about - >> good for everybody i guess. >> they're working on liquifying that and getting it ready for exports. one other stock to watch is the top stock in the s&p it did get upgraded at piper. >> more optimism about the u.s. residential market of all things. >> goes with what we were talking about. >> yep. >> thank you very much appreciate it. >> let's get over to contessa brewer who has the news update good afternoon. >> thank you for that. the justice department unveiled a number of criminal complaints related to chinese government operations in the united states. charges have been filed against chinese officials allegedly for harassing chinese nationals in the united states. additionally two people have been arrested in new york city on charges related to running an illegal police station for the chinese government the white house is threatening to veto a pair of gop bills expected to go to the house floor this week.

the administration said president biden would veto a republican effort to overturn a d.c. policing bill said he would not support opposition to what he considers common sense police reforms. and the white house also says biden veto a bill that bans transgender students from playing sports consistent with their gender identity. it is race day in beantown with the running of the boston marathon today there were ceremonies over the weekend to mark the 10-year anniversary of the bombing attack that killed three and injured hundreds last year's champion kenyan evan chebette won the race and helen was victorious in the women's race back to you. >> shout out to blake our local athlete 2:44. >> wow. >> great. >> contessa, thanks. ahead on "power lunch," for netflix, love hurts and so does live streaming the the second major live program falling apart. we'll discuss the details and implications, next

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welcome back to "power

lunch. shares of netflix down 2% or so ahead of its earnings due out tomorrow after the closing bell after an embarrassing situation last night technical issues preventing viewers from watching a live reunion show for the dating series "love is blind. it will now be available later on today prerecorded. so love may be blind, but investors probably are not does this call into question the company's ability to handle live programming? it's a different paradigm. for more on the drama we bring in elaine lowe this is -- i mean, in streaming it happens, right? we know that there are certain overload issues, but this is not something that netflix has really made a career of, live programming. is this going to be a hindrance in the future or somethingelse to work through to evolve? >> well, this is netflix after all. this is the dreaming market leader of the last decade or so, so never put anything past

netflix. this was absolutely a debacle last night they've only done live streaming once before really with the chris rock stand-up special. selective outrage back in march, went off without any problems, but it's very much so live a new technology for them. it appears to be -- there appears to be a need for more stress testing this is a platform that would be able to handle anything, but given its sheer engineering power but when looking at rolling out such an enormous new element at scale there are going to be kinks that have to be worked out. >> is that nick lachey this is probably great pr for those of us who didn't know about this show. >> yeah. i caught an episode recently myself and knew that there was a lot of buzz about this, a lot of reality fans were excited for this there was a lot riding on this live special yesterday, right. it's interesting because netflix

hasn't expressed that much outward interest publicly compared to apple tv plus, amazon, warner brothers discovery which has live streaming components or peacock with live news and sports. the other element here is just the immense amount that the rest of the entertainment industry seems to take whenever netflix makes a stumble because it's been the streaming leader so long any time there's an incident like this or last year with the netflix correction where they lost subscribers for the first time in a decade and laid off 450 people, there's an outsized reaction from hollywood. >> what's interesting, first of all, i don't believe elaine has only watched one episode of "love is blind." i haven't watched any by the way. just so you know i think she's underestimating how many episodes she watched. if you take a look at the reason

why this is important, like you said, this could happen to any streaming service out there if they get a really popular show or anything like that. how much of the conversation shifts towards just how much we consume live content on a streaming service as opposed to going back to where we usually got it before, the old cable bund until seat. >> that an interesting question, right. when you look at the major networks and streamers who is the only player bringing live appointment viewing back to the table. it's always been hbo and warner brothers discovery so i think maybe this was a test of appointment viewing, the kind of outsized press attention and viewership you can get from a live program and, you know, how much of that can drive subscriber growth, especially again because we saw subscriber losses at netflix last year and they hald to crack down on pass worth sharing and boost and support revenue initiatives over there. i think that's an interesting

element to it. you know, i would say that when it comes to live viewing, that's an important element for sports in particular, and given that there are so many rights that have been tied up, i think it's an interesting way to go with reality tv being the next frontier of live appointment viewing. >> i don't know. now we know why they were adamantly against live sports. >> that's a great thing about the sports things. those are multi year contracts >> prime video there are streaming services newer to the field that have had not this degree of technical problems, a few other bumps and problems here and there. with the earnings, do you think this overshadows them? password crackdown, some of the bigger issues around the stock how significant is this really in the long term >> well, i think for quarterly earnings tomorrow it will unfortunately be one of the headlines going in, right, especially since we're not looking -- we're sort of passed the major executive

restructuring it feels like. seems like the stock has rebounded from the correction last year. things seem to have sort of stabilized i think this will be a prime time moment in the earnings call that live was not ready for prime time taking the long view, there are a lot of netflix supporters who will say these were the -- these guys are the netflix -- are the streaming market leaders and always been able to overcome this hump. what's to stop them from pursuing this long term. >> judging by the disappointed fans they were able to make the appointment viewing. we appreciate it. >> thanks so much. >> elaine low. coming up, the meal kit hit to the environment we'll explore a company trying to reduce waste in the meal delivery spa das eastart right after das eastart right after this break.

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welcome back, everybody. meal delivery kits really took off during the pandemic. they're still pretty popular but there is a downside. all that wasteful packaging to keep it cold big money is now pouring in to a solution diana olick has more in her continuing series on climate startups. >> kelly, anyone who gets food deliveries like i do knows the

convenience is immeasurable and the packaging waste which is styrofoam is colossal but doesn't have to be just two years ago, fresh food meal kits were a $7 billion industry by next year, it's projected to be over $10 billion. much of that, though, is wasted on packaging that can't be recycled so companies like thermo safe, sealed air and temper pack are inventing new materials that don't go to waste. >> all of the paper in our products can be recycled and the starch, cornstarch that we use, is compostable. >> reporter: temper pack is working with grocers, meal kit companies and biotech and online pharmacies anyone who had used styrofoam coolers. >> it's very affordable. we can scale it up everything we mr. is sustainable in terms of, you know, how we get it, make it, what the options are at the end of life. >> reporter: not only is the packaging recyclable but temper

pack is putting the machines the insulation is made on, basically 3d printers inside facilities lowering costs and increasing sustainability that was a draw for martha stewart branded meal maker marley spoon. >> the goal was to save money within the supply chain. because we make it in the facility, we don't have logistics or shipping costs. >> reporter: backed by goldman sachs, grosvenor, sjf, arborview and harbert growth partners, funding over $200 million. temper pack said just one of its customers could receive 40 tractor-trailer trucks a month of insulation. producing it on-site, that goes down to just four. keep going with that math and in a year it's taking more than 400 trucks off the highway just for one customer back to you guys. >> you know, i'm kind of in a sour mood about it.

>> why. >> diana, i'm the -- the bags the stores issue and plastic straws, i can't get past it's getting worse as time goes on now i, you know, so i'm glad that they are making this more -- let me put it this way this would not materially become problem -- this is great the packaging is better. that's wonderful there's no downside. i have the kit in my house and it's better for the environment. it's the bags coming in and out of the stores that is just -- i've got -- i have like 55 -- because i pick up my groceries and they can't use - >> recyclable bags, take the same one - >> i pick up the groceries every time, so i can't give them a bag to put the groceries into and put it back in the car i have like probably 150 of these bags at this point. >> you have a work flow problem. >> dough nate them back and bring them back to the store. >> they have a sticker on them i don't know if they can get the

sticker off. >> ask temper pack. >> exactly. >> all i know i was at a facility one time and they had plastic strauss and they said no, they're not plastic. you know what they are they're made from avocado pits it was amazing. >> we did the plastic straws a company that did the plastic straws turned tem hem into anotr type of straw. wooden cutlery. >> temper pack needs to take on the grocery bag pick-up industry i'm all-in. >> yeah. coming up, we'll take you to view some key movers and calls in today's teehr stock lunch you're not going to want to miss this

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on the menu for today is merck announcing a big acquisition for about $11 billion. we have a disappointing march metrics for march and we have state street the biggest loser on the s&p today after its first quarter results missed estimates down

11% and here to help trade the mall is the head of technical analysis at oppenheimer. healthcare, it is busy. but what would you do with merck whose chairs are down a half percent? >> we were bullish. this is one of the names you want to own for exposure to the healthcare sector and this isn't a call on march pharma but the industry is more defensive and low volatility characteristics and there are risks for some of these stocks to rise at a lesser pace that what should be a bigger market but against those top-down headwinds, this is best of. we are relative strength investors and merck and eli lilly best of that mix industry and i think it is just about sticking with the uptrends and stocks currently coming into resistance at the january peak

around $116, but above that average you are buying pullbacks and it starts to become tactically attractive around 109 which is the 50 day average. >> let's move on to is it a game company or videogame or is it a human development platform content, roblox? what are we doing with this? >> i would describe it is stuck between a bull and bear in terms of a trend and i think my kids would call it a gaming company. i see a stock that has been making a series of high or lows since may of last year. it has stabilized and stopped going down and it moved above its 200 day average this year as well so with all of that going on, with it down 11% today, i think it is getting interest and it does snap back and with the stock at $38.50, i think it is a trading stock at this point and i think you need a tight stock but above $38.50

these snap back into 43 or $44 and that is the gap created this morning when you look to reduce. >> sharply even with this decline. and finally state street on this one a bit of a landmine for earnings taking down competitors and sympathy and what you do here? >> so industry wise, capitol markets, this is where we are looking for opportunity within an entire financial sector that has been down sharply since the february peak and with that said, this is the one i am looking to buy and i would probably be keen on if i were a private equity manager. the reason is we didn't really like it even before the drop and it has been making a series of highs. but nothing has really changed except for becoming i suppose oversold on this pullback. it is still down about 11% or

12% and it had been a bit of a reversal off of the initial low. there could be a little bit more near-term of a bounce back but again it starts hitting resistance at $73 which is the gap in the 200 day average following at 75% and i think that is a near-term ceiling for the stock. >> appreciate your time today. >> still to come, a few other stories catching our eye today and we will keep an eye on that and we will be back after this break. but seriously we need a reliable way to help keep everyone connected from wherever we go. well at at&t we'll help you find the right wireless plan for you. so, you can stay connected to all your drivers and stores on america's most reliable 5g network. that sounds just paw-fect. terrier-iffic i labra-dore you round of a-paws at&t 5g is fast, reliable and secure for your business.

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$363 billion and we just learned that was money market mutual funds in march and that was the highest one month total on record. >> it is crazy. we know it was coming but it is still this kind of trend in this idea that people are yield hunting and not doing it in banks per se but and short-term treasuries which is what money market farms are. >> we have moved from this kind of quick deposit to slower but still leading for the time being. >> it will be interesting to see people realize there is a settlement time before they can liquidate some of those funds on cash. last week reported on j.p. morgan ordering managing directors to come back to the office five days a week and many work from home advocate say they can be just as productive from home and more so but this status from stanford compiled this chart on

midweek golfing rounds and trips and you can see monday through thursday in 2022, number of golf trips was way up compared to 2019 before the pandemic. and twice as many people go out on the links in the middle of the afternoon. and it is when they are not in the office. so what does that say about what happens from work from home or anything else? >> maybe the golf industry under threat is this is for real but it could save commercial real estate. the job of flight attendants and airline crews is one that is burning up the internet right now and some people are taking their side on what happened with major-league baseball player anthony bass tweeting a picture of his two daughters on a plane with popcorn spilled into their seats and the text of the teat where it was complaining that they made his pregnant wife clean it up but this guy has a point. but in the comments it was overwhelmingly against him. and

you have been that guy. >> i do feel obliged and maybe it is the guilt factor but i always select i have to clean up after my kids because they are my responsibility. >> are you 20 weeks pregnant? >> i get that. >> if so, somebody should be helping. >> thank you for watching power lunch. welcome. i am live here from the new york stock exchange and this begins with the great debate over stocks and earnings and why mike wilson says things are too optimistic on both fronts and a new opposite and that the sky actually is and falling. >> you will hear from him in a bit. and then your scorecard with 60 minutes to go in regulation with the dow looking to extend its winning streak and we see modest losse