org organon. five times earnings, nice place to hide. >> bill, last word >> slb they are introducing their ai in machine learning platform into the oil space. i think this has tail winds. it's moved a lot recently. >> that's going to it for us "the exchange" tstarts right now ♪ ♪ thanks, frank. hey, everybody i'm in for kelly evans let's spend the afternoon together here's what's ahead on "the exchange." strong earnings helping to push stocks higher today, but strategists are saying, be cautious and shares of citi reversing course today we'll talk to citi's cfo, mark mason, in his first tv interview ever plus, the interview with

ripple's ceo brad garlinghouse, just moments away. but first, to today's market action with seema. >> good afternoon. three hours left in trading. the dow up 117 points. take a look at the nasdaq, up about 17, up 1/10th of 1%. but there are two sectors providing strength to the overall market take a look at the consumer discretionary etf, the xly, on pace for its second weekly gain in three, following a cp ireport that showed inflation cooling in june you can see the consumer discretionary etf up, and then there is the semiconductor etf, smh, on pace for its best pace since late may nvidia, up another 1%. lastly, keep an eye on united health care, delivering a strong beat on second quarter earnings,

thanks to medicare advantage customers. we saw enrollment jump 9% in the second quarter wall street likes what they had to see stock up 8% on the day >> seema, thanks it's been a big week for crypto bitcoin hovering near the hives of the year, and coinbase is on pace for its fifth straight weekly gain. a federal judge yesterday ruled that they did not violate u.s. securities law, writing that its native token xrp is not in and of itself a contract transaction, or a scheme but it is not a clear-cut victory for the crypto industry, as xrp is a security when it comes to institutional sales joining me now to discuss is the ceo of ripple lab with kate rooney >> brad, thank you for your time

today. thank you for being here >> good to see you both. >> so it's been almost three years of litigation, and there's been a lot of confusion about what this court decision actually means somewhat is the direct impact for your company, ripple, and for the broader crypto industry right now? >> 2 1/2 years ago, when the fcc first sued us, we said publicly this wasn't just an attack on ripple but the entire crypto industry we did see that play out with the fcc getting more and more aggressive, trying to regulate through enforcement, which we clearly don't think is a healthy way to do it this is a huge win not just for ripple but the whole industry. i think it really is the first time the fcc has lost a crypto case, and puts some of the narrative and comments that they make publicly about all of these digital assets being securities, it puts that in check, and in a very good way. it also hopefully drives the

legislative process, because it doesn't make sense to try to regulate this through enforcement, but rather, let's have clear laws about this that allow rules for all entrepreneurs. >> who do you think should be policing these tokens? the industry has been in the headlines for things like fraud in the past two years or so. do you expect congress to step up and if sot, is there a fwap right now in -- a gap right now in reg sflags -- in regulation? >> we saw that in their emails that they were exchanging. there is a gap, but like any industry, you know, you're going to potentially have bad actors but the vast majority of people that are builders and using these technologies to build a better infrastructure for financial transactions, for real estate there are a lot of different use cases for block chain and

crypto ripple has been focused on cross border payments as a starting point. i think you're going to see an incredible number for used cases for these technologies, and having clear rules of the road allows entrepreneurs to lean in. i think the fcc has just been wrong as a matter of law, around has really stifled the innovation here in the united states >> it's clear to see that this is not a win for the fcc, but it's hard to see how it's a win for crypto, in the sense that this just puts this back into the lane of either congress to figure out, and we know how long congress takes to figure it out. or raises the question, when is it going to be clear it doesn't make sense that things are a security sometimes, not a security other times it introduces all kinds of insecurity into investments that people will want to hold for more than two or three years so how do you feel about the uk

financial conduct authority's new proposed rules on crypto assets because we might end up somewhere closer to where they're headed >> look, i feel very good about what we have seen, not just from the uk, but frankly, the fact that the eu, 27 countries came together to create something called mica. the fact that we can't have one country, the united states, provide leadership or clarity. but look, john, i'll take the other side of what you said. there is now clarity the rule of law in the united states is clear that xrp is not a security when traded on exchanges, when used for payment. there's a whole bunch of things in the judge's ruling that make it very clear about xrp. the fcc has been clear about this, too. it might be good for bit coinbase and xrp, but it's why we have been calling for clarity for years, even before this lawsuit.

i think it's a call to action from congress. you saw representatives tweeting yesterday that this really is yet another call to action and i'm optimistic we are going to see some forward momentum in washington to provide the clarity that they have been fighting in some ways and almost sewing confusion >> i mean, it's clear what the judge has said, but this is likely to still undergo court challenges, and there are questions about how her reasoning about the hally test, and whether it makes sense so given all that, if you are investing real money in the space, you can't rely on this decision itself to hold up exactly as delivered, right? >> the rule -- it's very clear, the rule of law in the united states right now, xrp is not a security on the exchange, period that's the rule of law right now in the united states

they choose to appeal that, appealing a process that they can't even file an appeal yet. it would take years for them to get a change there so for now, you have clarity around bit. >> caller: and xrp i'm hopeful that we don't stop there. t had the ftx drama of q-4 2022 not happened, we would have had more forward activity already. but this is a major step for the united states, which has been lagging in crypto and really a lot of the innovation has been moving offshore. this is a major step forward for the whole industry that's why coinbase's stock is up 25% yesterday the crypto industry was up 7% yesterday. so the fcc put out a statement saying that they -- the markets have voted with their pocketbook, the dollars and cements here so i think it's very clear this

is a very positive thing for the crypto industry. >> and brad, the judge did rule that it was an unregistered sale of securities. i wonder what are the implications for accredited investors. are they now liable for breaking the law if they bought xrp or any of those smaller tokens and sold them to retail? what is the implication for institutional investors? >> that's a really important question it's been 24 hours since we got this decision. when i look at this, i remind myself that the mission statement of the fcc, the first thing in their mission statement is to protect investors. the irony of what happened here is that the investors that now the judge has ruled that they are trying to protect are institutional investors who arguably have the highest a accumen and risk understanding

the core mission is to protect investors at scale, but it's to be determined what that means for what the long tail of institutional activity but a lot have various exemptions any way so we shall see how that plays out. again, to have the fcc, you know, what i think has been a bullying tactic to bully the industry into their view of come pl -- compliance, is a big step forward. >> it's been a tough week for regulators brad, kate, thank you. >> thank you, john now turning to another hot issue button in washington, artificial intelligence. lawmakers are taking an under the radar approach to regulating that technology. the representatives involved aren't even part of an official committee.

emily wilkins has more >> reporter: when the speaker of the house brings together a bipartisan group of lawmakers to discuss anything, that is a clear priority this wasn't a meeting for show or to win points lawmakers who attended the meeting said it was more of a brainstorming session on how to tackle ai and get in front of the issue. >> what i'm trying to do is you watch the individuals brought together, those are what republicans and democrats who i watched inside these briefings care about so we have devised a plan that we would work together in a bipartisan way to bring a foundation legislation that can build on itself. >> the purpose in this early stages right now, membership isn't fully finalized, and specific bills haven't been discussed. but lawmakers who were in the initial meeting passed bills that congress won't need to overturn the more they learn about ai he's made clear that this effort in the house is separate from

the senate where chuck schumer is also crafting a bipartisan bill >> the senate, no disrespect to schumer, but i don't think a guy who uses a flip phone has the best knowledge on ai i think what we find working here is working quite well >> senator schumer and his flip phone is hoping to make progress on the ai legislation. he's having an all senators briefing on the future of ai july 26. >> is it becoming clear at all, but the principles involved are maybe that both sides of the aisle can agree on is consumer privacy a part of what they are looking into i know the ftc has raised some concerns about that. what are they going to be able to agree on here >> it's interesting that you mentioned consumer privacy there's already a bipartisan bill out there from josh hawley and richard blumenthal they came together on a bill

saying hey, if you are an ai company and you are using customer data without their consent, you are going to get a fine and it puts in other privacy measures, as well. it's just a bill there's a long way to go and a lot of details to work through but you are beginning to see that bipartisan consensus form over things like privacy, over things such as making sure that national security is being kept safe and making sure that the u.s. is on the cutting edge of any sort of ai innovation >> at least it's not section 230 all over again emily, thank you coming up, shares of citi lower, despite an earnings beat, a decline in investment banking took a toll on revenues. we'll speak with the cfo about the results. plus, hitting the right note spotify higher after wells fargo hiked its price target by $70 on strong news of growth. we'll talk to theanalyst behin the call and meta's threads losing some

early momentum active users down 20%. meta shares still on pace for their best pace since april and the best year ever as let's get a quick check on the markets you can see there the dow up fractionally the s&p about flat nasdaq, as well. russell lower. "the exchange" is back after this your brain is an amazing thing. but as you get older, it naturally begins to change, causing a lack of sharpness, or even trouble with recall. thankfully, the breakthrough in prevagen helps your brain and actually improves memory. the secret is an ingredient originally discovered... in jellyfish. in clinical trials, prevagen has been shown to improve short-term memory.

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welcome back to "the exchange." the first batch of big bank earnings out this morning, and the shares of citi group are down about 3.5%, despite second quarter earnings and revenue coming in stronger than expected joining us now, live from citi's new york head quarters is citi's cfo mark mason, a member of cnbc's cfo council and leslie picker is there with him. leslie >> thank you, john and mark, thank you so much. this is your cnbc debut. so a warm welcome. >> thank you >> thank you so much for being here let's start on the second quarter. you boosted your 2023 net interest income by about $1 billion, deposits have been stable, pricing rising incrementally. what's the outlook for the competitive dynamic on that

front, and how long can these tail winds persist >> thank you again for joining us at head quarters. we had a solid quarter in the second quarter, revenues of $19.4 billion, net become of $2.9 billion, $1.33 per share, we returned capital in the quarter. so a solid performance that reflected the diversification of our business model you asked about nii. when i think about nii and citi, i think about that diversification, and in our institutional client group, the services businesses. our treasury and trade solutions business, our securities and services business. these businesses generated growth on the top line of 15% year over year with a significant portion of that being net interest income as we saw both the increase in interest rates, as well as we did more with our existing clients and brought on new clients. we don't just bring in their deposits by helping them to manage their liquidity or

capital -- their working capital. we're helping them to manage their payments we do that for multinationals all over the world what we are seeing in terms of nii growth and the prospect for more growth, that 45 growing to 46, which is x markets, is really about that continued d momentum in that business with our clients outside of the u.s., but also on the consumer side with the growth in our cards volume activity. those two things contributed to my updating the forecast for net interest income to $46 billion >> they're showing the stock price on the screen, down 3.5% citi trading at less than half of the book value at this time, quite cheap. relative to peers. part of the market's hesitation has been this wait and see approach around your transformation plan, economic uncertainty that's out there how confident are you that the firm can withstand these forces and boost the price from here?

>> yeah, look, there is a lot of uncertainty. i am very confident. if you look at our investor day, we talk about a shift in our strategy a focus on these five core businesses, and these will continue to topline growth those services, as well as the cards business, as well as continued strength in markets like fixed income, those businesses will contribute to that revenue growth in the future the market's hesitancy has been around the investments we have been making. investments in transforming the operations the organization, investments in modernizing the bank and schuering up our safety and soundness. these are occurring now as we execute on theirimplementation and in the future, they would help to yield greater efficiencies and braing down our cost structure >> you are making these investments at a time when our economy is more resilient than

people expected. you have a low reserve bill, about $300 million cpi print lighter than expected this week. at this point, do you think a hard landing is off the table? >> our base case calls for a mild recession at this point we did have a good cpi print i think the feds are going to want to see a couple more months oh of that before taking significant actions in a different direction. when i think about our consumer, i think about the corporate clients, they have strong balance sheets and have proven to be quite resilient through all of this. so if there is ever a chance of a soft landing, these indicators are suggesting that. we citi have been there for our clients regard lstz ofless of ht turns out. >> do you think the banking crisis is over at this point in time >> what i say about the banking industry is we are significantly stronger than we were at the

last global financial crisis i think the large banks have built a significant amount of capital. if i think of the last quart e i'm proud that we were there to help support the lanking industry and the broader financial market there are some uncertainties out there in terms of capital headwinds. we'll manage those we passed the recent stress test but the industry as a whole, i think it's very strong, and i know citi is very strong both capital, liquidity, our interest rate management, et cetera >> you can tell from the conference call with analysts, given where your stock price is trading, there is a hope that you'll be able to do more buybacks >> yeah. >> you say you're evaluating on a quarter by quarter basis how long should we be waiting to see that number tick up? >> we've been very clear about this we are in a business where we

support our clients. we want to make sure that our shareholders benefit from the work that we do. that means more capital actions. if you think about what we did in the second quarter, we did capital actions of $2 billion. about $1 billion in repurchases, as well as dividends we announced an increase from 51 cent a share to 53 cent a share. so we are focused on opportunities to return more capital. we want to be responsible as it relates to that. we talked about the pending capital requirement changes. we need to factor those in and consider those but importantly, the strategy that i referenced earlier is designed for us to improve our return on and our return of capital. that's what we'll do >> it's definitely uncertain times in terms of capital. we appreciate it, mark mason, citi group cfo thank you for being here, on your cnbc debut.

>> thank you having me >> leslie picker, citi continuing to make investments, expecting the fed to stay the course great to hear those remarks from the cfo there. coming up, shares of spotify. and wells is on the right track after cost cutting measures. those shares on pace for their best week since february we'll spk eato the analyst behind the call, after the break. good night! hey corporate types. would you stop calling each other rock stars? you're a rock star. you are a rock star. no more calling co-workers rock stars. look, it's great that you use workday to transform your business. but it still doesn't make you a rock star. so unless you work with an actual rock star. hi, i'm ozwald. hello ozwald. pam, you are a rock-

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welcome back to "the exchange." spotify shares have been up about 3% on two bull inish note this morning wells fargo hiked their number to $250, citing strong user growth and effective cost cuts spotify laid off 200 workers in its podcast division, which wells says could put podcast gross profit to even next year let's dig deeper with the analyst behind that call steven, how much of your excitement about spotify is based on bottom line discipline versus topline growth? >> yeah, thanks for having me today. i would say it's certainly a big piece of both. historically, i was very bearish on spotify and disbelieving a margin improvement story starting last summer, the company changed the way it operated the business with a greater focus on cost and

efficiency you'll start to see that in the margins later this year. combined with a much more interdependant relationship with the labels, we think those things together give spotify a new outlook on margins >> my concern, i don't know as much about the company as you, but in the industry, a lot is going to live performance where spotify has some limited exposure is this going to show up in music the way it is in tv and movies and is spotify in a good position when it does? >> yeah, i don't exactly share that view. there is a big difference with what we want to watch live and things like sports or awards shows would be good examples of that and what we want to listen to. which is, you know, usually a lot of the same songs or maybe pod podcasts while there is a big live

experiential component to music and audio, it's not necessarily what's traditionally been done in the home or car so it's very different in the audio space. >> where is the big topline growth opportunity, not just user growth but addressable market growth opportunity for spotify now? >> spotify has not raised price in the u.s. effectively ever in a lot of major revenue markets in europe it hasn't raised prices so we think that spotify has a lot of pricing power, a very loyal user base. so a lot of the revenue growth in the next few years will come from pricing >> don't tell me that. i'm a subscriber thank you. arkk is up 30% the last two months, outperforming microsoft and alphabet

diedra has more on today's tech check. >> google and microsoft, part of that magnificent seven we know have been leading the markets this year. but those more speculative parts have been rebounds and cathy woods' flagship rtf, year to date, it's above 60% and 10% in the last month alone. so it has been on the rebound. this is the top ten holdings here there were some headlines about her trimming her positioning in coinbase recently, but this is the second largest holding, and she's been adding to this over the last 11 months or so we'll be talking with her later today on our tech check special at 6:00 p.m. tonight so if you think that, you know, the speculative plays will

continue and they'll have that momentum behind them, if you think that a recession is still coming, she still holds a number of unprofitable names. >> unprofitable tech was very unpopular at the end oh of last year but then people got ai excitement cathie bailed out nvidia, which is a huge winner this year but there is the sense that retail investors have been rushing in now, and some fear, at least on my part, that maybe the folks at home were a little late to this, that they sold when they should have been buying >> how do you keep up these incredible gains coinbase is up 150% alone this year she was early to nvidia, you're right. she sold out her stake in that earlier this year. but she points to other ai leaders, tesla and others.

i was looking at where she's been adding and trimming positions over the last six months she has been adding in tesla, missing the nvidia boat, though. that stinks. >> it does we'll see what she has to say about it at 6:00 p.m diedra, thanks you're looking at -- let's see, are you looking at it a live shot, yes well, outside of netflix studios. there it is. we're following the historic strikes in hollywood actors and writers striking in tandem for the first time in more than 60 years a complete shutdown of film and tv productions is underway no resolution in sight shares of netflix, dneisy and lion's gate all in the red today. "the exchange" will be right back conventional thinking delivers conventional results. at allspring, we break away with purpose. harnessing data-driven insights and boundless curiosity.

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welcome back to "the exchange." here is your cnbc news skrup date at this hour. police say the suspect taken into custody for a string of

killings on long island will likely be indicted this afternoon. he was arrested thursday evening. between 2010 and 2011, authorities found the remains of 11 people on a stretch of highway on long island fires from the wagner military group are training soldiers in belarus, taking place about 60 miles south of minc mincek it's not clear how many fighters are in belarus major league cricket made its debut in the united states the texas super kings and los angeles night raiders played in front of a soldout stadium in north texas last night the league's six teams feature international cricket stars. eventually that will change, though eventually >> all right thank you, christina

wall street is hoping an end to fed rate hikes could be near, but on this morning, black rock chairman and ceo said a hot labor market is going to keep rates higher for longer. >> i think we have seen a low in inflation, and i think inflation will be sticking between 3% and 4% if i'm right about the job creations and the need for labor, and what that is going to elevate wages, you know, we're going to be in a period of 3% to 4% inflation, which will translate into a fed that will be reluctant to turn off their platform of raising rates. >> my next guest says that's true, saying wages are going to be a head wind for companies, just one factor keeping him cautious on earnings joining me is bill stone, chief investment officer at the glenview trust company bill, so what is the impact of

this when we talk rates and wages on equities? >> i think at least, i'll call it the intermediate term, it raises the odds that eventually this recession, i guess all of us have been waiting for, does, in fact come we have gotten so much good news lately we have gotten a lot of soft news about inflation call it the last mile here is going to be the tougher part because the labor market is strong, and it's always a tough thing, because that's good for households and a lot of people, it's just unfortunately the part that is likely to keep inflation higher than the fed is going to want it to be. >> the head scratcher for me, and maybe should be for the people at home, you tell me, is the impact of just this continuing pressure. we talk about rate hikes as if it's a thing that just happens and then it's done, but it's increasing pressure on the economy, and the consumer has been resilient, but for how

long you know, business has been resilient, small business, but for how long what are the sign posts in the road in the rest of the second half that we should look to, to really gauge what impact this continuing pressure from higher rates, higher wages, at least in some cases, is having? >> one is obviously the earnings side, to see how margins are going. companies here -- between the consumer prices and

multinationals that sell out overseas, so a weaker dollar might be good for them in some ways but also, how much benefit are they going to get if the recovery in those places isn't so great, what should we expect to hear from them or listen from them this earnings season? >> yeah, i think you're right. you have the two sides of the coin from the larger companies you have about 40% of revenue of the s&p 500 coming internationally, so the dollar not being super strong, like it's been year over year, it's more flattish now that we have gotten into this quarter that should be -- they really won't have to blame currency as much anymore but you're right, on the other side of the cornin, i probably y

china has been a disapointment with reopening so they get helped in one place and hurt in the other. >> bill stone with glenview trust company, thank you >> thank you still ahead, $100 million. that's how much a new massachusetts tax could cost harvard if passed. the details on how it could combat the affirmative action ban, next. and shares of western digital, aiming for a merger deal with a japanese chip company. we'll beig bk. rhtac

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number on your screen, or visit coventrydirect.com. welcome back massachusetts legislators have come up with a way to balance the recent court decision that banned affirmative action, and it could result in a big cost for the likes of schools like harvard and wellesley.

robert frank joirn joins me wit that story >> this bill charges fees to colleges and universities that give preference to legacy in their admissions harvard would pay $100 million a year fee accounting for more than half the revenue from the program williams would pay $8 million. other colleges would pay millions a year. this would be based on the endowment size which for harvard is $52 billion and whether a school favors alumni and donor families, as well as early decision the bill's sponsor say legacy admission is effectively affirmative action for the wealthy. >> we view this is a win-win either these schools eliminate preferences that hurts hardworking families or they help our economy in massachusetts by supporting our community colleges, but all of the money that would be collected from the fees under this bill would go towards

public community colleges in massachusetts. >> harvard declined comment but in a statement in massachusetts, the bill was called punitive and likely unconstitutional and harm the students it's trying to help a civil rights group has said legacy practices may be discriminatory >> so legacy students tend to be rich and white, and are they getting into schools like harvard with less academic credentials than it takes everybody else >> one of the findings that came out in the supreme court discovery process in that case against harvard was that the legacy students, ie donors and alumni, were six times more likely to get in some of those students may well have been very qualified to be at harvard, but they got admitted at a much higher rate if you add in what's happening with standardized testing, i

think colleges around the country are really going to have to rethink their entire admission process and just think about what it is we're trying to achieve as a university when we think about admissions >> if you don't like affirmative action, you should like this move to ban -- or at least to charge colleges for letting in leg sis. what is massachusetts going to do with the money? >> devote it to community colleges if you deny middle class and take the meritocracy away from the elite universities, it will go straight to the community colleges, to those who need it most >> it's easier to get into some of these elite colleges if you play water polo, fencing, country club sports. >> sailing >> right, yeah that's not being attacked here though, is it?

>> no, it's not. the versusty blues issue has come under scrutiny, as well all part of whether colleges seek to redress the imbalances of society through admissions or they want to be a true meritocracy when it comes to education. sports is not part of this, but that could be rolled in. supreme court ruling came out? >> why not early admission >> some schools -- a lot of people don't consider early admission part of the legacy grouping but you look at johns hopkins, for instance, they say we don't do legacy but they do do early admission when you accept early admission or apply, that's regardless of your financial aid package you don't know at the time that you're obliged to go to that university what your financial situation will be. a lot of people who need scholarships, who need financial aid, are not able to afford the luxury of early decision

they can't just say, we'll go and figure out the price tag later. >> m.i.t. doesn't do legacy admission. they don't have anything to worry about. >> interesting to me, they've never done it. they've never had donor programs and they do well from an endowment point of view. >> they do. three days, that is how quickly you could have a home constructed using 3d printing thanks to one company. the system is becoming even more ecofriendly. we'll talk to the ceo of eco material technologies next. take a look at the heat map with microsoft leading the way cisco anchrothlaard evn e ggds es is different than other money managers. (other money manager) different how? aren't we all just looking for the hottest stocks? (fisher investments) nope. we use diversified strategies to position our client's portfolios for their long-term goals. (other money manager) but you still sell investments that generate high commissions for you, right? (fisher investments) no, we don't sell commission products.

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welcome back to "the exchange." you may have heard of 3d printed homes but one company is working to make them more environmentally friendly eco materials is using zero carbon building materials. the process starts with coal ash. here to walk us through is the ceo of eco material technologies welcome. so, here's my big question about

3d printing homes is scale it seems like this takes a lot of space to do can you do it in densely populated areas? i understand the ones you're making are 400 to 900 square feet that doesn't sound like enough for my family of four. >> no. the nice thing about this process is it's extremely process. the company we partner with, hive 3d, want printer is not that large and can be moved around easily. the footprint of the printing operation is no larger than the footprint of a standard stick built home however, it is a much more affordable, much more sustainable and much quicker process, which makes us really, really excited it takes fewer people to do this but there's the capital up front. how much density can you building, number of stories? if i'm a developer, am i looking into this in a way that's going to make sense? >> sure. so, there's a number of different approaches hive and ourselves are looking

more from an affordable housing point of view. we're focused on the lower end of the market. other home builders, lennar, partnered with icon, they're building much larger homes absolutely the higher quality homes are one approach people can take our view is that at eco material our core mission is on sustainability so, sustainability with these 3d-printed homes and green cement technology is going to go two ways one, it's going to be affordable homes, high-quality homes, and we have a housing crisis in the united states, and we have to do it environmentally responsibly 40% of emissions are from the construction industry, of which 8% alone come from cement, portland cement. our material has virtually no emissions associated with it actually works better and is less expensive than the portland cement-based alternatives out there. >> are there the incentives in tax law or wherever to capture

the economic value of that ecofriendliness or is that yet to come? >> that's yet to come in most markets. some markets, like california, where they are working on reducing the amount of portland cement cement is the glue you use to bind together all thinge aggregs to make your concrete. 4.5 billion tons a year. for you specifically, 1 million -- i'm sorry, 1,000 pounds of cement is produced every year it's the largest manmade commodity in the world behind water. we have a huge emissions problem with that. california, other states are focused on that. most places there's no green premium yet. we need to be much more thoughtful and that's why we're able to compete on cost as well. >> who owns the printer? >> the printer is owned by our partners at hive, hive 3d.

>> grant quasha, the ceo of eco material technologies. >> thank you. coming up on "power lunch," one retail analyst says the likelihood of recession this year becoming increasingly remote he will join us. where's courtney reagan? there she is getting ready. i'm going to join her on the other side of this quick break this thing, it's making me get an ice bath again. what do you mean? these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep, so you know all you need for recovery. and you are? i'm an investor...in invesco qqq, a fund that gives me access to... nasdaq 100 innovations like... wearable training optimization tech. uh, how long are you... i'm done. i'm okay.

your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire welcome back to "power lunch" with courtney reagan. i am jon fortt stocks higher once again as big banks kick off earnings season with good enough results can earnings inflation and the fed continue to give the markets what they need to keep moving higher plus, hollywood striking actors joining the writers on the picket line. the strike already threatening the fall season. it comes at a vulnerable time