welcome to "power lunch," everybody. alongside kelly evans, across the room from kelly evans, i'm tyler mathisen everybody is talking about ai. its impact on society and the markets. seven stocks driving the gains, most of them knee deep in the ai boom plus, retail results coming in we heard from walmart, target, which is the better buy right now? sounds like the recipe for a bullfight. >> indeed, indeed. just wait, everybody quick check on the markets, tyler thank you. mixed picture, dow near session lows the s&p 500 hanging on to a two-point gain, 4161 the nasdaq up .6%. the nasdaq highest level since august, absolutely worth bearing in mind that these gains have

taken us to some potentially significant levels and ai optimism is a big reason for that a lot of ai in tech news to talk about today. steve kovach in the house, julia boorstin as well from now on,s sit is always a perfect week, but so much to get to let's start with deirdre bosa to break down the latest news we're getting. >> it doesn't stop just an hour ago, open ai said it is introducing chatgpt app to ios and iphones and that will open the door to more users and more headlines there is snowflake in a potential ai adjacent acquisition. there is dynatrace but else what do we have the entire s&p gains this year that has been driven by eight stocks, the beneficiaries of what else, artificial intelligence dare i say it, is there too much ai news? rather than go through all the individual items, let's talk about ai washing that's a phrase i'm hearing more

often in tech circles and that investors should be aware of as we get all of these headlines. i spoke to eric lyman yesterday about this idea. they are all deeply involved in building ai-based products here is what they said about ai washing. >> i think there is a lot of companies out there slapping a chatbot on their site and saying, look, we're using ai and solving customer problems. and i think it is sad, because it misses the potential to really use this new software to deeply embed it in your products >> tbd, if ramp can successfully take part in capitalize on this ai boom, but his point is a good one for investors to keep in mind as the headlines continue to roll in for now, the consensus seems to be that big tech will be a beneficiary. we talked about this before.

big tech versus the incumbents and amazon, speaking of your next guest helped with a strong ai opportunity because of its data exhaust that's what it comes down to how much data they have to crunch for the models. >> we have got all kinds of new phrases here deirdre, thanks very much. for more on that amazon call and ai, we have brett phil, analyst at jeffries and steve and julia. brett, let me begin with you where is -- we hear a lot about chatgpt, open ai, microsoft, google where is amazon in this race >> hey, tyler. amazon is in a fantastic position if you look at the enterprise, they're the cloud leader they own $85 billion run rate with aws with majority line share of the cloud market, microsoft being number two, google being number three. when you have that data, you have an advantage. today they have over 20 different ai services, they were the last ones to join the pr

party. we think that behind the scenes they have an incredible technology advantage because they have the data and they have users on the enterprise side if you look at the consumer, they have all the data what we ordered, what we have not ordered, what is our delivery preferences for advertisers, they now have access to this information and the advertising platform is far superior than walmart or target. you start to layer in things like prime video, there is an incredible opportunity, we were having -- we had an amazon day this week with our clients and seven experts and one expert said even our investment in the autonomous, the acquisition of zooks, imagine a car that picks you up, you forgot to get some -- whatever the item is, amazon can load it in the car, get in the car, you can have cnbc in the back seat of the car and it understands you watch cnbc, you don't watch espn

during the day >> well -- >> so this whole concept of tieing the signals together and all the products they're providing, it is not here yet, but you can point to the future what this is going to look like. and it is an incredible opportunity for the company. >> i'm struck by your commenti the past that amazon is trying to be like switzerland, to say we don't want to have to choose sides too quickly and alienate potential customers agency the customers themselves try to figure out who their friend and partner or not is. >> that's particularly on the cloud side so they're taking a different approach to what we're seeing for microsoft and google saying if you want to develop these ai tools, come to us. we have the cloud, the biggest cloud provider i will point out there is a risk here so much of it does hinge on aws. by the way, the ftc is about to sue amazon on antitrust grounds and aws is one of the targets. >> the fact that they're in so many different lines of business. >> and they own the pipes and the market places and all that

together makes them an antitrust target for sure. this could be a risk for them if with all the ai stuff for sure. >> think of all the ways they have pipes look at advertising as this huge growth opportunity for amazon. they have been growing so much faster than the other players and they can really use ai to better target ads and come up with ads this is something we hear the other ad players talk about as well but, also, think about alexa, right now my kids ask alexa, tell me a joke the jokes are not that great in the future, they say, alexa, tell me a knock knock joke and it might be really funny you're going to have this pipeline into people's homes and all those elected devices will be an nterface for people to interact with. >> i want to get your thought on this, if i -- this is opinion, not really fact, i think of the two software services that are indispensable to me. one is google. but i'm telling you, amazon

probably is even more indispensable to me because of amazon prime and everything i can do and hook to it, including going to whole foods, including buying whatever i want, including watching tv, including listening to all kinds of radio stations on my amazon echo. >> i think those interactions will become a lot more natural using those natural large language models. you can have a conversation with your alexa about what it is you want to buy, what you want to do, without having to look at a screen. >> and amazon has been talking about this for ages since alexa first came on the scene. that's the ultimate vision, the star trek computer that can do everything for you they haven't really made much progress there. >> give us the last word and last thought on the stock price and where it can go from here. >> we still think stocks trending to 135 plus, huge move, outperformed every other name and large cap we covered this year even while microsoft had the attention.

they're getting their costs under control and the supply chain. aws will rebound in the back half of the year we think margins continue to move slightly higher they're getting a lot of issues under control. but they have been headwinds so we think we're at a point hopefully we can stop cutting numbers, numbers have stabilized and hopefully numbers can start to go up, especially on the bottom line. >> brent, thank you very much. >> i'm struck by all the antitrust moves that are coming even as technology is shifting so quickly on that note, another key tech story, taking place out in montana. the governor signing first outright ban of tuck toiktok ine u.s. a sign of the times. let's start with the implementation here. i guess if you live inmontana, you wouldn't be able to download this from the app store. >> this broke my brain it completely misunderstands how

the app store works. this law would fine apple and google 10 grand a day for every day they keep the tiktok app available in the app store in montana. the problem is, that's not how the app store works. it cannot ban on a state by state level, they can do country by country app store in china, you can't get facebook. >> is that because we don't have state by state ip addresses? >> the app stores are nationwide. >> it is trun country, by count, not state by state if they wanted to do this, they would do what a gambling apps do as soon as you cross the montana border, boom, tiktok goes dark. >> it is so hard to regulate these things on a state by state basis and doesn't seem like anyone thinks this is going to happen because it doesn't go into effect until january. before then -- >> aclu is ready to sue the pants of -- >> there is a lot that has to

happen legally between now and january 1st. >> if you had the app and tried to open it in montana, what would happen i ask because look what the is happening in utah. they're trying to ban kids from using social media from a certain hour at night. we're seeing a ton of moves to rein in tech what is the technology by which they're going to be able to do this or not? >> in what sense >> figure out where you are, how old you are. >> geofencing seems to be the answer it shows you the misunderstanding of how the apps work my theory is they don't want to say we tiktok away from you. they're sayinging you can use it, but you can't download it. that's not going to work. >> what is the point then. if you can still use it -- >> good question, tyler. >> 150 million people are already using tiktok in the u.s. >> and five people live in

montana, so -- >> a million people in all of montana, a lot of easterners are moving there got you. >> it is beautiful. >> big sky is gorgeous, but it is not going to dent tiktok at all. >> no. >> this is a theoretical battle. it is fought over in the courts. this is important and interesting because it could help determine what ends up happening on a federal level will we have a nationwide ban on tiktok will it be prohibited from operating in the u.s.? >> i wonder if the difficulty in implementing it becomes part of the concern about them if the idea is you can't regulate them, we don't have the tools to do so, and make people go maybe we need to be able to. >> you can't prevent the app stores from selling it simply -- allowing people to download it in a certain state you have to focus on what the app itself is doing, rather than on the app stores. >> does apple need to play a role here. it could be a gatekeeper. >> it can be the app store has location

features that's not how it is designed right now. and i go back to the gambling apps if they wanted to do this, online gambling is banned in certain states you can download it, but they won't work in that state let's move on, we'll end with disney. shares popping on reports that espn plans to stream its main espn channels programming. something that is not currently available on espn plus you understand all things disney better than anybody. what are they proposing to do here and would it be -- would it mean that if i am a cable subscriber, that i would not receive espn or -- >> don't worry, i know you're not cutting the cord but you will be able to keep watching disney. this is something that bob iger had been talking about for a while and the person who runs

espn for disney. it is an inevitability they will be offering espn content direct to consumer. that's because there are so many cord cutters and cord nevers, people who never paid for a tv bundle they're trying to figure out the right moment to take that direct to consumer and they have to make deals with the cable companies. the distributors so disney is talking to comcast and other cable distributors to make sure they have the right to take the content and take it direct to consumers. >> how do numbers work as pardon of my cable bill, i'm paying $8.15 a month to receive my espn. >> whether you watch it or not. >> worth it to me. may not be worth it to somebody else who doesn't give a hoot about sports do how do the numbers work?

how do they make up for the $8.15? >> you can subscribe to espn plus what disney has to figure out at one point it is financially advantageous to take that content direct to consumer disney may earn less money from the cable providers if they're making that bundle less effective. one thing we talk about is that sports are the glue that holds the cable bundle together. people like you are always going to pay for the cable bundle because they need their live sports the more we see sports move on to other platforms, once sports is not just unique to the paid tv bundle, then maybe it is worth it for disney to say maybe we'll make less money from the tv buntle, if we get other people who aren't paying for cable tv to pay directly for sn p

espn plus. >> we thought maybe -- >> it sounds like it is a few years away. >> this is $40 a month >> i don't think it will be that >> tyler almost fell out of his chair. a lot of people pay for espn now who don't watch it what they have to figure out is how many people will subscribe direct to consumer and what is the right price point. this isn't a big process the fact there ia new headline out just indicates this is continuing to accelerate in terms of when they figure out the timeline bob iger knows this is going to happen it is a question of when and how they work things out with their paid tv partners >> and the news on disney keeps coming what is happening now? >> disney is announcing today that it is canceling its plans to build a new campus in central florida. it is no longer asking the 2,000

employees and parks experiences and products division, employees that had previously asked to relocate to florida, it is no longer asking them to do so. the disney park chief saying this was due to new leadership and changing business conditions and he remains optimistic about the direction of the disney world business and its plans to invest $17 billion and create 13,000 jobs in florida over the next ten years he says i hope we're able to do so this comes amid disney's battle with ron desantis and last week bob iger reiterated his frustration calling the state antibusiness. >> is there any way to read this other than a slapback at florida? >> 100%, come on >> bob iger said it very career on .call, why are we receiving so much if this is not -- they

had a couple of years ago announced they were moving 2,000 employees from southern california to florida, build this whole new campus for them this is an investment on many levels building physical infra infrastructure, asking people to uproot their lives and they're saying why are we doing this in they said in this note to employees just released that if they -- if people already moved to florida, they would talk to them about helping them relocate. >> this is his key issue, known as the antidisney candidate for some reason. >> thank you coming up, a tail of two retailers, walmart and target. both pointing results. walmart raising full year fwid ans, groceries offsetting the colonialing slowdown that hit

target which name is the tt bbeeret a bullfight next

target and walmart reporting earnings this week each posting a beat on the top and bottom lines but saw consumers skipping over the nonessentials. shares of both target and

walmart down 2% this week. walmart beating target year to date which one is the better buy? with the bull case for walmart is michael baker, senior research analyst welcome to both of you target discretionary, if things tighten from here, are you sure this is a place you want to be >> we have outperforms at walmart and target we think a rise in target and has more potential it is more exposed as we look at the target story, look from last year and then going forward, we think there is a much bigger earnings recovery story here last year target earned around $6 we see $10 next year that's our enthusiasm around target, big earnings recovery story and discretionary will pick up and target has gained significant share discretionary categories, so i think you could

super charge recovery next year if discretionary picks up again. >> a similar question to you, when does walmart do better, during times -- during heady times or belt tightening times >> we're seeing it right now the answer is during belt tightening times the 7% comp is bet ever than most retailers they're seeing a tradedown from higher end consumers trading into the walmart ecosystem this is the time for walmart to shine and seeing that over the last few months that sales have weakened throughout the economy. >> they have got growth, michael. how much of that growth is coming from groceries and how much of that grocery growth is coming from simple inflation >> well, the answer -- the answer to both questions is all. the general merchandise sales were negative. the growth is coming from

groceries and health and wellness but certainly those needs rather than wants and the unit growth is flat to up slightly. most of the growth is coming from bryson. it was up 7% it decelerated from 8 and change last quarter and that is largely because inflation is still high, stocks moderate a little bit >> talk to me about target selling groceries, but are they competitive with walmart in that area or they don't have the scale, the size, the selection, what is it >> target does sell groceries. 20% of sales so target is one -- groceries are one part of the entire offering it is a focus, but consumers do not go to target to buy groceries. they buy in multiple categories. so i think that's unique about target versus walmart.

they have multiple ways to drive people into stores consumers are focusing on essentials walmart is better positioned to get that traffic when consumers go back to the other categories, you see that inflect higher for target. >> so the viewer is clear, you both like both stocks, correct >> yes >> yeah. and one of you likes target a little more and michael you like walmart a little bit more. thank you. appreciate it. the semi space making huge gains this year. the smhetf, up more than 30% but beyond the monetary, it is also seeing a drive in equity and inclusion. asian americans underrepresented in corporate c suites, we'll discuss that

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philly fed for me. down nine consecutive months in a row. leading economic indicators for april, down 13 months in a row treasury yields, on pace for its fifth consecutive higher yield close. let's go to the charts 2s and 10s, one week, see the climbing interest rates there. and, of course, it is altering the landscape of fed fund futures, which is always right on any given moment, but every next moment may change getting ever, ever closer to a quarter point tightening at the next meeting if we look at two years in general, you see that, if you start the chart, early march, you can see 507 is the high yield close. it is a still a long way from its peak and should we get above 4.25 on a closing basis, it will be a two-month high yield close. 10s are already there. two-month high yield close

and if you look at what is going on in 10s, rate interests come up dramatically, but still a ways from 4.25 the dollar index, it is really been fired up lately we cleared the 103 handle and it is going to close again at a fresh two-month high close tyler, back to you. >> mr. santelli, thank you very much energy futures closing for the day. oil prices lower today after jumping yesterday on hopes for a debt ceiling deal. but the real action today, natural gas. prices soaring there as much as 10%. traders watching key technical levels including the three power mark at 258 right now. west texas down a little bit. to bertha coombs for a cnbc news update. >> house speaker kevin mccarthy striking a more optimistic tone saying the house could vote on a deal as soon as next week.

the california republican said he thinks things are in a better place today than a week ago and that he sees a path to an agreement. other republicans have said negotiations are not close to being done some conconservatives are pushing for a border bill to be added to debt ceiling negotiations on thursday morning, members of the conservatives republican study committee sent a letter to congressional litership and both sides for both sides calling for the border to be included in negotiations it was unclear if this late request will hamper the 11th hour deal-making and rafael nadal announcing today that he will miss this year's french open due to a lingering hip injury the 37-year-old tennis great also said he expects 2024 to be the last year of his career. he is a 22-time grand slam champion including an unprecedented 14 wins at the

french open. i can't imagine it without rafa anymore. >> no. >> he seems to be a terrifically nice guy good guy charitable >> only 37. >> we have been so blessed to watch nadal and federer and djokovic, each competing head to head, setting records in the grand slam events. still ahead on "power lunch," the raising tech tide lifting all stocks we'll discuss the market in balance xtne (swords clashing) -had enough? -no... arthritis. here. aspercreme arthritis. full prescription-strength? reduces inflammation? thank the gods.

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welcome back to "power lunch. the nasdaq leading the way higher today, again, continuing a trend where the concentration of of a handful of tech stocks is leading the market. that has some people worried looking for alternatives even. bob pisani joins us now from the new york stock exchange. do they just pile in and see how long they can ride this one out, bob? >> well, some are, others

arguing that big cap tech is so big in the s&p 500 that people should consider equal weight s&p 500. just look how much the big cap tech stocks, the five biggest stocks, look at the numbers, 110% these are the top five stocks, these gains are so big that they literally are moving the whole 500 stocks in the s&p 500, the whole s&p 500 here if you look, the average stock in the s&p 500 has gone nowhere. there is the orange line on the bottom, the white line on the top here the s&p itself market cap weighted, the rsp equal weighted, the average stock, everything is the same weight, all 500, it is flat on the year. so that's a problem. a lot of people say too much risk right now in the s&p 500 in the market cap weighted. so equal weighted has gotten prothe popep proponents who are pushing it. the top ten stocks in the s&p are now 30% of the market cap of

the s&p, the highest in decades. people say there is too much risk here, it is too concentrated in tech, we could have a big problem when things go down. the thing about equal weight is that it gives more balance to the market small and midcap stocks have the same influence as the big cap stocks okay, here is the problem. most investors are not convinced about equal weighted market cap weighted have adherence for a simple reason, this is the main reason. it is the purest form of indexing you could have. it is the public voting. the investing public decides who is winning and losing because they decide what is the most valuable stocks. if apple is a lot more valuable, than international paper and investing public voted that way, the s&p is going to reflect that

a lot of people are saying, you know, it is a winner take all mentality, and that's why the majority of money is still in market caps. still big, big debate about this now. more than i've seen in, many, years. >> that's where most of the investing is and most of the money is as you pointed out. bob, thank you. should investors look for diversification in case tech takes a turn senior investment strategist at edward jones, she is here on a day that is not a fed day. good to see you. we let you out on nonfed days. does the s&p 500, this is market value weighted, does it give you really the best view of the market or is it a skewed view of the market >> yeah, it is a great point that bob brings up in the near term, we do think that this tech trade could persist, probably has some legs. there is a couple of reasons for that one, when you look at the

breakdown by sector, there is three sectors that are outperforming the broader s&p 500. two of those are back in bull market territory up 20% plus. so when you look at the technical picture, in fact, the growth tech parts of the market are above the 200 day moving average. there is some support, especially in the near term. the other factor we point to, if you look at what investors are doing now, they really do have an alternative to ekeqequities they can sit in cash-like instruments and what would drive them back into the market, they have to see interesting opportunities, perhaps it is ai, strong cash flows eric lot of those large cap tech names announced another set ofbig

buyback programs we think this can be elevated for an extended period of time usually what happens is during -- after an economy goes through a downturn and we enter recovery phase, that's when we see broader participation, small caps, cyclical parts of the market, international. we haven't gone through that process yet. there is room to run as we look down the road, keep in mind the broader participation comes back, to some extent. >> let's talk about what's been happening. the major market indexes have been down for four out of the last last five or five out of the last six what do you expect the major market indexes to do as we move from spring to summer into the fall >> yeah, look, i think if we go

through an economic yodownturn,e don't think markets it completely ignore that probably will get bouts of volatility we think bet ever optimistic views has supported markets. if we start to see an economic downturn, markets can't ignore that what we went through last year, the drawdown of 25%, we have been in this bear market territory, markets will start to look forward market cycles are different. so if the economy is moving downward, markets can move upward we think period of volatility is that opportunity to position for a recovery phase and that recovery phase will be barader -- led by broader based research as well

>> thank you very much we appreciate it. as part of our celebration of asian american and pacific island heritage, we're looking at the c suite they are rare examples in other -- maybe not so rare examples about areas of the economy where we see the leadership >> want to talk about some career advice i received early in my career it really spoke to me as an allegation american in the workforce. it centered afternoon a few things what are your natural strengths, things you build your career and craft around and the second was finding the complementary activities that create commercial value for those.

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underrepresented in corporate c suites overall they have seen some big successes so far in the semiconductor industry kristina partsinevelos joins with us more >> of the ten largest u.s. chipmakers found in the sox etf, 40% are led by asian americans, with familiar names like lisa sue, jensen huang, and their tenures are longer than nonasian chip leaders and sighsee higher stock returns as well. the market cap is now larger than berkshire hathaway's at the moment asian american chip leaders saw their average stock returns increase 2,000% over their tenures, higher than other nonasian american executives specifically within the chip space. but when we move beyond the chip space, their representation diminishes, less than 5% of

fortune 500 companies are run by asian american ceos. as it becomes more difficult to climb up the ladder, representation drops 41% from the corporate entry level to the c suite. all while inequality grows they may be overrepresented in tech and software related jobs, we talk about many leaders on our network, but they also are overrepresented with the lower paying jobs in america and that creates a divergence >> there is much greater than population share within a number of low wage occupations as well. some personal care occupations for instance and in fact the majority of ethnicities in the asian american population have higher than the average rate of poverty in the united states >> so the large variance of wages between these occupations cluster, the occupation cluster means asian americans have the highest income inequality among races in the u.s

that's because they're concentrated at the top and the bottom >> so where else do we look for -- is there an angle with women leaders as well? >> we noticed generally with women, but specifically for asian american women, they struggle to go from an entry level position to the c suite. i mentioned that 41% stat for men and how difficult it is, for asian women it drops off 70% i heard the head of private banking call it the glass ceiling and the bamboo ceiling, a creative way to -- >> you say 41% explain that number to me. 41% compared with entry level snem. >> compared to white males >> 41% underrepresented? >> yeah. and it is interesting if we expand it out to even women now, and we were talking about asian leaders, but with women, earlier

in april we -- they're filing more female ceos than ceos named john has come a long way. there are more johns out there running s&p 500 companies than females. >> random but delicious little tidbit thanks good to see you. coming up, take two interactive, top performer in the s&p 500 after posting a big 'lr. for its fiscal fourth qute wel look at other movers of the day after this break

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time for today's three stock lunch. some movers on the menu today. first up is netflix, saying their ad supported'r tier is shg signs of life with 5 million active users they're still facing an ongoing writer's strike. here with our trades courtney garcia what's your trade on netflix >> netflix, i would be a seller on here. i think it's probably a time to take profits off the table doing fantastic, last i looked it was up 9% off the great news they had 5 million subscribers

to they're ad supported tier, which is great p they are going to continue to face increased competition and they're going to have to continue to have the high costs in order to create new content, to get new subscribers and keep their current ones they had revenue growth 6.5%, the slowest ever and not trading cheap 33 times next year's earnings so you're paying premium for slower growing company, which i don't think is a recipe for success. >> what about bah bah. bah bah black sheep. they're not going to do the cloud spin out, not getting a lot of credit. >> not getting a lot of credit at all where stock is down today i think it's a wonderful buying opportunity. they have continued to suffer where the chinese economy has not opened as fast as everybody expected it to that's a headwind for them it's going to turn into a

tailwind and none of the optimism has been priced in, i would not discount the chinese economy recovering here and i think they're going to be a ben fis -- beneficiary of that. they have about 55 billion on their balance sheet which puts a lot of room to invest in a.i., and add on top of that spinning off some of their businesses which i think is a great long-term story. >> buy buy baba. i like it. video gaming company shared a weaker than expected outlook, what do you think of take two? >> this is doing really good on excitement over their earnings saw pc and gaming sales did better than people expected and their mobile advertising was up about 2% quarter over quarter, which is great news. this is excitement over the recent earnings that just came out. even though they did beat on their earnings, they are still

trading in -- their earnings really are still deeply negative i think you'll see some of the excitement go away and wall street will focus on the return to profitability, which isn't expected until at least 2025, fiscal year, at the earliest i don't think that's what you want to jump into at the moment. i would avoid this at this point. >> very clear, thank you courtney home prices see the largest decline in more than a decade and a huge week for one of our favorite cnbc colleagues it's nearly closing time when "power lunch" returns. i think i'm ready for this. heck ya! with e*trade you're ready for anything. marriage. kids. college. kids moving back in after college. ♪ finally we can eat. ♪ you know you make me wanna...♪ and then we looked around and said, wait a minute, this isn't even our stroller! (laughing) you live with your parents, but you own a house in the metaverse? mhm.

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here. aspercreme arthritis. full prescription-strength? reduces inflammation? thank the gods. don't thank them too soon. kick pain in the aspercreme. welcome back 3 minutes left in the show a bunch more stories you need to know let's not waste any time home prices just saw their biggest drop in 11 years, it was a 1.7% decline, but still the biggest since january 2021 median price stands at just under $389,000 down from the record of 414,000 back in june 2022. >> you have to say this reflects the bite of higher interest rates. like a bond when the rate goes up, the price goes down. >> yes, with the costs, the mothly doubling cost is crazy. >> they're still selling well

where i liv. boot barn sinking after mixed fourth quarter results the dip in boot shares not helping the rutgers investment club who picked it in the second round of this year's stock draft. boots needs some reselling, these boots aren't made for walking today. >> we were talking earlier about bolaro, these were two popular trades, both of which are moving the other way today. >> and both begin with b. yes. next week teens can request uber rides -- >> don't they do it? >> it'll be across select areas in the u.s. and canada you previously had to be 18 or older, but people ignored that

and were doing it anyways. >> i thought they were doing it. >> i thought uber was unveiling the phone number to call and book rides. >> as opposed to using your app. >> back to the future. >> yes check me on that corporate drug testing revealing a surge in marijuana use as more and more states legalize the consumption of weed the number of workers testing positive reaches a 25 year record the industry had the highest positive growth rates for marijuana in the service industry. >> are you surprised the. >> if you're going to legalize it and sell it. >> let's move on the second most exciting thing you do is scoring with elon musk, you're having a good week. david faber just back from the interview in austin. he just threw out the first

pitch at citi field before the me mets game this afternoon he tweeted out -- what did he say? i did not bring the heat >> we're proud of david faber. >> you're bringing the heat every time we turn around. cl "closing bell" starts right now. kelly, thanks so much. i'm scott wapner live from post nine, the make or break hour begins with a.i. arms race and the stocks tied to the transformational technology can continue to climb as they are today. your score card. dow has been in the red all day, take a look at the nasdaq, not in the red by any stretch. alphabet, microsoft, nvidia, apple continuing to rise the fed is unable to derail the tech with their speak. leadin