your free hearing evaluation today. good afternoon, everybody. welcome to "power lunch. coming up, money and politics colliding in two key stories today. first, a potential move to ban stock ownership by lawmakers and their staffs after a couple of stinging losses, the new trade guidelines for mergers. shares of at&t bouncing back, after responding to cable lines. how serious the lead lines may be first, let's get a check on the markets with stocks higher off the highs.

the s&p, up a quarter percent. check out the health insurance group, including united health that is giving a nice boost to the dow. and the big earnings we're watching after the bell, netflix and tesla shares here's the health insurers, up 1% these were at a ten-month high >> we begin with a civil war in washington over investing. two senators with a ban preventing lawmakers and executive branch members from owning stocks. emily wilkins has more emily? >> this is an issue that

lawmakers in d.c. are not letting go of, whether or not they should be allowed to trade stocks currently, lawmakers can, so long as they follow reporting requirements and they often do not. and law members have come under scrutiny in recent years in trades that appeared to use insider information. josh hawley and kirsten gillibrand would not only band members of congress from owning stocks but family members and executive branch officials from any trading. the ban picked up, inside congress and out a new poll for public con consu consultation, approved a ban for stock trading for members of congress and unlike so many others today, there's no divide among party lines. 86% of republicans and 88% of democrats have agreed with the ban. it's not clear if this bipartisan bill will have more

success than path it raterations but it shows this battle is not over yet >> emily wilkins, from the capital. most americans are in favor of some restrictions of trading by congressmen and women and other members of government. is it really going to happen this time? let's bring in dan mitchell and aaron klein. is this is a good idea >> it's a double-edged sword i like the idea of members of congress owning stock. then, they have a stake in the success of our economy on the other hand, there's something very sleazy about politicians going to washington and retiring 20 or 30 years later and being fabulously rich. if they're doing that by using the insider knowledge, their ability to hurt some companies and help others, then trade off that knowledge ahead of time, it

reminds me of the "star wars" line it's a retched high of scum and v villainy >> you have framed the issue it's good to have a stake in the system on the other hand, it's bad to have people in places of sensitivity where they could take advantage of the system where do you come down >> i think the legislation tries to draw a good balance it allows the members to invest in mutual funds. but they would have the ability to punish an entire industry and short that fund or something like that. i don't know if there's a perfect answer, other than, you know, this is my inner libertarian coming out don't give politicians so much power over the economy and they can't manipulate the system in ways that lines their pockets. >> aaron, where do you come down on this? >> the last point he makes doesn't make sense it's not just about power but

about knowledge. people in congress know things that are coming. they're briefed. i worked in the senate on the senate banking committee we had a lot of information. available. the second point is we have a set of rules and i haven't seen that many consequences of violating the rules, of trading on insider information, which congress made illegal. but what happened? i think there's an assumption that voters will be the ones meeting out the punishment when congress fpunishes its own members. there's a contrast between ownership and trading. it's not clear that any member should be trading on any stock in a broad based industry or mutual funds there's blind trusts and other ways to handle that type of situation. we shouldn't conflate the question about whether or not you could own a small amount of company or if you're a staffer, reaching into the stack and inherit some stock from your

grandparents and you have to die ves devest it. and members of congress and senior members of congress shouldn't be in the stock trading business very different than broad based investment >> it's an interesting point as many people know, we are subject to certain restrictions here at cnbc for example, on-air talent, like kelly and myself, cannot own any individual securities. corporate bonds, corporate stocks we are able to own mutual funds and etfs and other kinds of securities but we're restricted in many ways if, aaron, you went this route, how far down would you go in restricting stock ownership? i take the point on the difference between trading and owning but it's sort of the same -- if you're an owner of google, you don't have to be trading it to

profit from inside information right? put the money into the stock if you wanted to or sell it you owned google when you entered government and you can trade it when you leave. otherwise, it's yours. what information you have, you're handcuffed from buying and selling ingselling. that's where the trading element comes in, where the greatest inappropriateties come up. and you have $1,000, $5,000, if you have 1% of your net wealth, it's very different than if you have 10%, 50%, if you're investing a large amount >> you make an interesting point. i wanted to get you in, dan. we have to move on to the next

topic. what was your final thought there, dan >> i think aaron made a couple of good points i would still warn if you say own a bunch of google stock and even if you're not trading it, you might pass some legislation that improves the price of that stock. or if you own a bunch of intel stock, you have a big incentive to pass biden's subsidies for the semiconductor industry there's going to be ways for politicians and the senior staff to benefit hopefully we can put in pences to make the system less sleazy >> that was the point i was trying to make and i did it clumsy than you did. >> i think it's noteworthy that the executive branch is included there. >> how far down would you go is it cabinet level? sub cabinet? ordinary employees in the forest service who may know something >> right >> career employees. >> career employees. >> is a spouse a career employee

>> is the grandchild who inherits something from grandmother or grandfather or who comes into government service after working in the private sector and accumulating stock? do you have to sell it then and incur a tax liability? >> i ran into problem giving stock to my younger cousins. i'm talking, $10 at a time just to teach them the basics. let's talk about some other big news out of washington the merger side, where the white house is not backing down from the antitrust fight with the ftc and the justice department is proposing new merger guidelines. let's get eamon javers in here >> the ftc and the s.e.c. are drafting mergers to antitrust enforcement of consolidation the framework released this morning, the agencies will use 13 criteria to evaluate the horizontal mergers, where

companies in the same industry are merging, and vertical mergers, where companies in the same supply chain are merging. assistant attorney general jonathan kantor explained the biden administration's approach on "squawk box" this morning >> antitrust gives opportunities for new firms, technologies, to flourish and thrive. what we want is we want competition. we want disruption we want innovators we want them doing it throughout the economy and throughout the country and throughout the world. and that's what we're trying to promote. we're not trying to pick winners and losers we want the marketplace to do that >> the new language updates in case of vertical merger. but the administration's approach to antitrust was blasted as harassment of big business, on capitol hill, just last week. the saying in washington, is personnel is policy. and by selecting the ftc chair,

president biden has decided he wants the agency to take this more aggressive approach back to you guys >> if the ftc is gettin mergers avenue >> you could argue and some have, we're in the camp that simply by bringing these cases, you put a little sand in the mill here, so to speak, in terms of the pace of deal flow, as lawyers on all sides of potential acquisitions and mergers look at the administration's approach to decide to slow down. and hold off on deals. you can affect the antitrust landscape if you're not winning the cases in every instance. they could be getting a trend, even if they're not winning in

court. >> let's get back to our panel what's your take on the right way to move forward here and if we should be moving forward at all, to change the way that mergers are allowed to be done. >> there was a major revolution in the approach to antitrust, starting 40 years ago, when instead of just this simple, clumsy, big is bad approach, lawmakers, regulators, people at the ftc and doj, they have a consumer welfare standard. what's the evidence of competition. are you factoring overseas competitors and things like that unfortunately, looks like the biden administration wants to go back to the old-fashioned, big is bad approach, that led to embarrassing mistakes, like harassment of at&t and ibm the marketplace shrank those companies a lot. i prefer innovation,

competition, diversity, all of the words that the administration spokesman was talking about. >> aaron, what about if congress goes the route of trying to tighten -- the rule would be, anyone with a 30% market share, would trigger a review or something like that. >> i would see them agree on the standards for stock trading, as we just discussed. dan's idea of going back to the '80s is backward it's libertarian ideology as opposed to a modern economy. these rules need to be updated the rules were existing before we had ride share apps anybody want to think about taxi regulation and taxi competition, before we had uber and lyft. the administration is spot-on to review these there's been an activist

right-wing judiciary led by clarence thomas and others that have unwound long-term standards. it's time for doj to flex its muscle and i think the administration has listened to a lot of small businesses that are being heard, by the weak antitrust enforcement, that's been a hallmark of many administrations over the last 40 years i'm pleased with the direction the biden administration is going. >> dan, them's fighting words. i'll give you the last word here very articulately expressed. what do you think? >> i like the idea of clarence thomas setting the direction for antitrust. he has a more realistic sense. we don't want to become like the european union with bureaucrats trying to dictate the outcomes >> this one, we can come back to this is a good conversation. both of you very forceful. great points appreciate it. coming up, goldman showing the first real signs of weakness

with the banks taking a big hit from real estate investments as well as a trading slowdown apple working on a.i. tools. those when "power lunch" returns. off to a spicy start prime ta se s for everyone who lives here. ♪

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xfinity rewards creates experiences big and small, and once-in-a-lifetime. welcome back goldman sachs reporting a lift on profits the stock is rallying today. it stated how tough of a quarter it's been for the firm

the ceo says the market feels better and more investors wondering if this is an entry point to turn things around. let's bring in david conrad. one of the worst quarters for goldman in some time and some investors seem relieved. >> i think it was expected they had guided to a few of the charges. some of the equity or the consolidated real estate investments. these are really investments that weren't getting their valuation. investors weren't over -- fully onboard with these investments as they are exiting them, it's a big issue. but these businesses, ultimately will be a positive for the company. >> where does it leave goldman 6 months, 12 months from now

i think, the consumer business will be curtailed. we'll see, you know, with the apple relationship, in terms of the cards business presumably green sky won't be part of it some of the equity investments that took the charge of this quarter. if you go back a couple years, equity investments were over $20 billion and now $13 billion. these are heavily capital-intensive businesses i think freeing those things up, shrinking those investments and focusing on the investment bank trading and assess management will be a capital-free business. will allow buybacks. >> do you have to have investment banking and deal flow for goldman to light it up >> yeah. i think you do

i think you have to get the stock here at the trough of that activity the green shoots aren't coming through. announced that it's up quarter on quarter and we've been in over a year lull in this activity. with the fed nearing the end of the tightening cycle and inflation coming down, you know, we think the businesses are set up better for '24. you need that leverage in the capital markets to get the rotc after the business >> what i'm hearing you say -- not to put words in your mouth -- i'm expert at that -- this is an opportunity to get in at a trough point of at least one of their critical businesses >> i think that's right. i think when you look at it, it's trading at 1-1, of year-end book that's an attractive valuation the rest of the year, there's more noise to come with exiting the consumer it will be largely cleared up by

year-end you are positioned really well, with an attractive valuation, a company that's strongly capitalized, with hopefully momentum in these businesses >> david, thank you so much for your time today. we appreciate your insights. david konrad coming up, we're calling in tech support the chart master, carter worth, will be here with three stocks and where theyre a headed. more "power lunch" after this. you should get a second opinion from innovation refunds at no upfront cost. sometimes you need a second opinion. [coughs] good to go. yeah, i think i'll get a second opinion. all these walls gotta go! ah ah ah! i'd love a second opinion. no. i'm going to get a second opinion. with innovation refunds, there's no upfront cost to find out. so why not check like i did for my small business? take the first step to see if your small business qualifies for the erc. if you wake up thinking about the market and want to make the right moves fast...

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welcome back to "power lunch. stocks rising again. bond yields continue trending lower. rick santelli joins us from chicago with more. >> we're rallying on the price of presstreasuries, pushing the yields down. not the entire speed of the curve. look at the first maturing 30-year bonds on one chart and you can clearly see that the treasury yields are lower. that was evidenced by the 20-year bond option today. i gave a great demand.

you can see the long-term treasuries were going to yield lower. and the ten-year chart, starting on july 7th. today, on pace for seven of eight lower yield closes that really is something to ponder because that report, along with the recent inflation reports, have changed the tone of yields. and if you look overseas, u.k. has potentially the stickiest inflation horizon. they got a reprieve. we saw the cpi today the two-year shot of yields. and the currency dropped against the dollar a few days ago a 15 1/2-month high. that's a very good time lately we see some buoyancy, with a level of 100, thanks to much of the european currencies, starting to slide along with

inflation. let's get to steve for the cnbc news update stanford's president said he was cleared of fraud and falsification of data to his past work as a neuroscientist. but he will resign at the end of month next for the good of the university new hampshire republican governor chris sununu will not seek re-election he announced the 2024 presidential race, after the possible run sununu says he feels like it's time for another republican to lead the state but new hampshire democrats issued a statement saying they have two candidates prepared to have the race. and just weeks after the supreme court struck down affirmative action, wesleyan college is ending legacy

admissions white, wealthy applily cants seem to benefit from legacy proms. others have halted admission preferences for children of alumni scott gottlieb will join us to discuss growing concerns of lead pollution across the uny, and several other topics we'll be right back.

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welcome back to "power lunch. shares of at&t are back up today, after the company responded to the issue of lead cables that some are concerned could cause health issues. we have pippa stevens here looking at them and the other telecom names that are impacted. >> last night was the first time we heard from at&t since "the wall street journal" published its investigation on july 9th. the company is saying that led-clad cable is less than 10% of its copper footprint and it strongly disagrees with "the journal's" conclusions at&t's rebuttal was convincing enough for some investors, after

falling to a three-decade low yesterday, and posting ten-straight days without a gain stocks of other legacy telco with possible lead exposure, including verizon, lumen and frontier are surging they are surging with 30 billion wiped from the sector since the initial report at&t and verizon are widely-held stocks one or both of the stocks are owned by one in ten mutual funds and etfs the equity funds, that number rises to almost 15%. and we've seen an uptick in options trading activity, amid the sell-off, with vol spiking yesterday. open interest has increased while the put call ratio has declined, according to schwab. and taken together, that could point to investors betting the upside will continue but wall street remains divided. argus cut at&t to a hold rating,

and deutsche bank held to its rating this doesn't seem like a $30 billion prb. there's a lot of unanswered questions. >> pippa, thank you very much. as the telecom companies face pressure over concerns about cables covered in lead, how big of a danger does the potential exposure pose? here to discuss that and more is dr. scott gottlieb, former fda commissioner and cnbc contributor. good to have you with us let's talk about the lead-sheathed cables do we know enough to come to firm conclusions about the dangers they could pose. lead is a danger, no matter where it is. >> no amount of lead is safe

if it stays in the system longer than two or three months, getting in organs or the bones and lead has effects on multiple organ systems. its most damaging effects can impair cognition and development, in young children it has substantial effects on reproduction, lowering sperm counts you want to make sure people aren't getting exposed to lead how much lead exposure is happening because of the cables. that will need to get resolved by the epa the epa probably has authority to step in and investigate the cases. and make a determination about how much lead is actually leeching into soil or water and potentially getting into human consumption, as a result of the cables there's going to be certain parts of the country where cables are leading to exposure of lead. and there's parts where cables are buried they will be best left alone

taking them out will cause more harm than good you need an authoritative judgment from that that's going to come from epa. >> that was the case in flint, michigan maybe the biggest risk would be if the cables were near water supplies >> that's right. you worry about access to water. some of the cables will be near water supplies and probably are leechi ing lead into local wate systems. i would suspect that's the minority of case where's the cables are buried, looking at the reporting that's done, good reporting from "the wall street journal. we worked a lot with epa when i was at fda a lot of that work was setting allowable limits in different environments, for things like lead and other con taminants, other chemicals. you don't want lead exposure, no matter what. but there's instances where the cables are buried and undisturbed and the lead isn't

getting into soil or water supply where humans can get access to it there's other cases where humans are getting access to the lead it's contributing to lead levels in children and adults those are the cases you want to remove the cables. epa can make a judgment. they have to set a stricter framework where the cables can move and get in place. and where you can sheathe some of the tables, particularly ones on overhead wires. >> this seems, because the lead risks are so clear and the evidence is so clear -- like, for instance, people have who been fishing in spots with 15-times the acceptable limits for almost 30 years. every paragraph in the original story, details examples like this lake tahoe with the camping ground there's not question of possible exposure and possible damage my question to you, is what's the precedent for the companies? is there a precedent or some

kind of structure or pay settlement that could help investors understand how big the financial risks might be and how it might be resolved? >> i don't think there's a precedent on this scale. this distributable to lead people are getting exposed to lead we don't know the source qwest did lead levels in children who were tested for lead most children get tested for lead around the age of 1 or 2. half of the children had levels of lead. you can't trace that back to a very clear source. we've done a lot to reduce lead exposure in the environment, taking out lead pipes and removing lead from paint and gasoline demonstrating causality where someone was exposed from one of the cables is going to be difficult. i don't think there's a

precedent for someone to face potential liability, for something this distributed whether or not the government steps in and backstops some of that, there's funds that do that this may fall into some of the clean water standards. it remains an open question. >> let's switch to the topic that's everywhere these days that's a.i is there a scenario, as medicine begins to integrate, artificial intelligence, into its realms, is there a scenario which a.i. products could be deemed medical devices, subject to fda regulation >> artificial intelligence is embedded in medical devices. and software that is embedded. there's programs that help radiologists examine x-rays. and that's regulated as a

medical device now, in that case, the software product itself was built on a data set it was built on a data set that fda knew the scans that the device was being trained on, were known results they for example, mammography, it helps radiologists diagnose breast tumors. that was if you had breast tumors that were or weren't cancer it was confirmed by a pathologist. the difficulty in these large models on open data sets, where they are trained on data that has mistakes in it, the fda will take a different video with those a.i. tools that are trained on the large data sets where you don't guarantee the providence of the data this is happening. the next leap will be using large language models, particularly in drug development. it isn't going to be necessarily regulated by the fda, if you're using it to assist if you're trying to apply it to

patient care, to inform a decision if a patient should or should get therapeutic on a particular medical problem, that will be regulated as a medical device how is the fda going to regulate that they have to develop standards for guaranteeing the providence of the data, the integrity of the data that trains the models that it can correct for any mistakes and confirming the result having the a.i. tools oning against known data sets and giving accurate results, based on known examples. >> let's talk quickly about weight loss drugs. how do they fit in the medical culture? is it going to remain that the best way to lose weight is to have a healthy diet and exercise is that still the best way to go these drugs are popular. and they're going to be marketed, really aggressively.

not that they aren't already >> yeah. the best way to lose weight is to have a proper diet and watch your calorie intake. there were 5 million prescriptions written in 2022, upwards of 40% of the population, may be eligible for these drugs, based on the criteria, having a bmi over 30 having a bmi over 27 and risk factors related to your weight, like hypertension. we're going to see broader use of the drugs as we do, we're going to unmask some of the side effects of the drug we've used these drugs in the setting of type ii diabetes. and mostly, the dose you're using is about one-fourth the dose of promoting weight loss. as we go into the higher doses, we'll unmask more of the side effects of the drugs and will start to target these more appropriately. >> as always, a pleasure to have you with us. appreciate your time

>> thanks a lot. still ahead, apple's a.i. ambitions. the shares hitting a record high on reports that it's working on artificial intelligence tools. apparently, it's struggling with something it's been admired for in the past, a marketing plan. we have details when "power lunch" returns powering innovation with access to capital. powering critical decisions with precise data and insights. powering seamless execution in evolving markets. we deliver our entire global bank to power new possibilities for you. barclays corporate and investment bank. powering possible.

shares of apple briefly hitting a high today, after a report that it's building its own a.i. tools, including an internal chat bot that some call apple gpt. that's the tech check today. >> apple gpt doesn't sound that creative that's just a nickname the report says that apple is working on its own large language model like a chat gpt, that insiders inside the company, employers can use and test out we know that apple is comfortable being a second mover. it shouldn't be that surprising. but what may be getting investors excited. you saw the stock pop on this news the idea that apple would be able to monetize general a.i it's the same reason we saw microsoft shoot up yesterday when we heard the announcement it would be charging 30 bucks a

user to use some of the a.i. tools. we're at this phase of the bubble, guys the ability -- it has the ability to mention a.i., to create a pop you hear about apple user install base, usable devices you can charge a.i. tools on top of that, the way they charge for things, like cloud services, that bring their services revenue up so much, that is exciting >> it is exciting. what's the concern about the marketing of this potentially? >> i don't think there is marketing yet, right apple likes to test things internally before they come out. we heard they were working on an ar/vr headset. then, we got the vision pro. they're comfortable moving slow and steady i guess some concerns have been about siri, right? it has fallen behind some the other a.i. assistants.

and some of the doubts over how much apple is focusing on a.i. but we take a step back, and see they are incorporating back on the products on the devices, whether that's auto correct or photos shouldn't be surprising. apple has a secret self-driving project that would lean heavily on artificial intelligence >> thanks. over to dom chu for a market flash. >> carvana is soaring on headlines that they are going to restructure. the used car retailer is around $6.5 billion in terms of long-term debt in the second quarter. the company is selling up to $1 billion of stock in a restructuring and capital-raising effort all of that comes as carvana reports a lighter-than-expected loss carvana stock has gained over 1,000 -- 1,000% so far this

year but it still remains a whopping 86% below where it was during its record highs during the covid pandemic back in august of 2021 keep an eye on the carvana shares >> short interest, as well carvana ceo will be on "mad money" tonight he'll join jim cramer around 6:00 p.m. eastern time poised for a breakout, cnbc pro without with a screener of stocks about to make a bullish golden cross-chart formation the chart master himself, carter worth, will break down his favorite names on the list for us we'll get some technical support after the eabrk. there are some things that go better... together. burger and fries... soup and salad. thank you! like your workplace benefits and retirement savings. with voya, considering all your financial choices together...

can help you make smarter decisions. for a more confident financial future. hey, a tandem bicycle. you can't do that by yourself. voya. well planned. well invested. well protected. i was told my small business wouldn't qualify for an erc tax refund. you should get a second opinion from innovation refunds at no upfront cost. sometimes you need a second opinion. [coughs] good to go. yeah, i think i'll get a second opinion.

all these walls gotta go! ah ah ah! i'd love a second opinion. no. i'm going to get a second opinion. with innovation refunds, there's no upfront cost to find out. so why not check like i did for my small business? take the first step to see if your small business qualifies for the erc. we've got one hope. take the first step to see if your small business a bomb. 4... 3... 2...1... they just fired a starting gun. goli, taste your goals.

goli, taste your goals. cnbc pro setting out a list of stocks about to break out according to the buggish golden cross chart formation. these are names where the 50-day moving average is approaching the 200-day moving average and it is within 3%, and the 50-day moving average has not been on the other side of the 200-day moving average over the past month.

got that okay our support technician today is ca carter wirth, founder and ceo of wirth charting i set it up for you. >> you sure did, tyler if you look at the golden cross, it's something that's been on the downtrend and the current price over the past several weeks is so aggressive that it's allowing for a short-term moving average of 50-day to move along the longer term moving average and let's tray to figure it out. what you have here is a comparative chart and what it is is three stocks, labcorp which has nothing to do with plaquerock, which has nothing to do with bestbuy, a retailer, a financial and medical company and they're quite correlated leading the way there from the top is the s&p so let's drill down here a bit and look at the year to date chart and you will see if you look at this next iteration what we're talking about. so these are laggards, yes, they

have not kept up with the market and you can see the spread is quite wide, but that is the opportunity which is to say playing for stocks that have not kept up with the market. and so we look at them individually, and you will see i think what is an important circumstance in each case. so the first one here, this is lh and the way i would draw the lines is as follows. we have a well-defined downtrend line and we have something of a head and shoulders bottom. that warrants a nice arrow up into the right, and we're going to look at each of these in turn and they have the same, exact setup, but you see here, lh, right, making the turn we might look at the other two just to make a point take a look here at blackrock, and here, but you almost don't have to clear it watch. draw the lines again here's the head and shoulders bottom and that warrants the up arrow and finally let's do a third and then we can discuss

it if we were to look at, of course, the last stock and what is the circumstance? it is the same, exact thing. a well-defined downtrend and the recent move has the downtrend and of course, the head and shoulders bottom which, again, warrants the arrow so my thinking here is these are stocks that have an opportunity because, what? they've lagged, but on a short-term basis they are handily outperforming the market that's a perfect one-two setup a precondition of underperformance and now nascent, very developmental action of late that is so good that it's an outperformance here and now. >> as you pointed out very clearly, i see those double bottoms or the head and shoulders bottoms and then i see a rise back, but it almost suggests that that upward trend pressages another down trend >> if it were a downtrend

sequence that would be the case if we hadn't made the triple bottoms which is to say we were coming from a new low and then rallying, yes, but the sequence is different now we have not made new lows for typically six months and that's what a bottoming formation is, so this current leg that you're referring to is confirmation that those lows are quite good >> those lows are lower than it's likely to go on any pullback >> exactly as you say. >> carter, as always good to see you, my friend i think i'll see you friday night on "fast money." >> i thought you had a dinner reservation. >> you never know with carter. >> you can get the full list at cnbc.com/grow. still to come, talking about dinner reservations, maybe your grandparents had the good idea after all. more early bird dinners and 5:00

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and they'll continue to fight the fight in the regular -- >> that was the tone that bobby struck with david faber this morning. faber said do you think there is a 99% chance it would get done and that's how the market is thinking about it. >> clear sign that 7% mortgage rates are taking a toll on the housing market according to redfin 1.1% of the nation's homes changed hands in the first half of the year and that's the lowest level in the decade and equates to 14 of every 1,000 homes and that puts a number on what we call the inventory problem. the pre-pandemic average was 2% of homes changing hands in the given year and it's easy to see why. why if you own a home with low or no mortgage, with a low mortgage rate would you sell and take on a high mortgage? >> it's not going to unlock until rates come down, and it will take some time. >> this is not unexpected. the top-level executive -- wait, am i reading this right?

they're leading the resistance against -- okay. a survey from mackenzie found the largest share of employees who prefer to work from home are those earning more than $150,000 per year 44% of the most senior workers wanted to hold on to remote work abilities. the real question is will they be extended to everybody and will this be enshrined as an option >> bosses want you to work from home >> and now the rest of the workers have the power, too. >> "the wall street journal" highlighting how america is turning into a nation of early birds with data to prove it. yelp says strawns are seating 10% of diners between 2:00 and 5:00 p.m., a 5% increase from 2019 a third of all broadway shows now start in the 7:00 hour according to playbill, a rarity before the pandemic and uber says trips in the 4:00 p.m. hour are up nearly 10% since 2019 >> what? >> i guess i go out earlier and dine earlier now than i used to.

maybe it's a funk oction of age >> i do, too >> you have kids they insist on eating early. >> but why didn't it used to be so late? who are these heroes of previous generations who are lighting it up at 9:00 p.m they had bigger families than we do >> i have to go to bed earlier thanks for watching "power lunch". >> i'm going to dinner "closing bell" starts now. >> welcome to "closing bell. the countdown to two of the most anticipated earnings reports of the season netflix and tesla both hit in overtime and we'll get you set before the numbers hit with alex cantor and dan ives and first with 60 minutes to go now in regulation and more gains for stocks today there it is, green across the board. the s&p 500 sitting just above 5% away from new all-time highs. the dow working on its eighth consecutive day of gains getting help tod