constant contact's advanced automation lets you send the right message at the right time, every time. ( ♪♪ ) constant contact. helping the small stand tall. welcome to "power lunch. seema mody today welcome, seema i'm tyler mathisen dow try forge a perfect ten. ten in a row if it can hang on longest winning streak in six years. earnings and the fed allowing for more gains next weekend and beyond we explore. >> a societal and cultural event

of the summer. "oppenheimer," can it save the box office or lead to another movie disappointment for movie industry nap and more pap look at markets with all three major averages higher today and for the week top of the agenda is going to be art furl intelligence at the white house today. president biden speaking a short time ago and meeting with leaders from some of the biggest companies involved in the space. the goal to agree to some rules of the roads as technology evolves. joining us now, eamon javers and eamon, begin with you. allowing big companies to continue to work together? >> it does the idea a starting point, seema. the idea these are voluntary agreements between companies and white house. no force of law behind this at all. listen to what the president said in the last hour, a lot of what he talked about there was trust. you could see why that's where

this deal starts because the u.s. government certainly has an interest in these ai systems trustworthy and, of course, a corporate incentive that these products be trustworthy. going to try to sell them to people you want people to believe they're trustworthy. incentive, executives do, you see them in the roosevelt room there a short time ago executives have incentive making sure their products have good housekeeping seal of approval, for lack of a better metaphor in terms of safety. that's what this was all about a meeting of interests government and companies, both have some common interests here. where it gets tricky where those interests diverge and, of course where you get, come to regulation that has actual teeth, seema. >> steve, who was there exactly? and what does it say that the white house would convene this kind of group to discuss these sorts of safety issues in other words, how concerned is the administration about ai? >> we have executives there,

meta, top policyand comps person executives from entlopic a company talked about earlier in the week meta, already said google, amazon as well look, these executives, it means, to eamon's point, common ground here especially disinformation one are the key proposals they agreed on here some sort of water mark for lack of a better term to move that content you might see online or elsewhere, it's ai generated versus organic. that is a good thing everyone can agree on it's not over. this is a prelude to actual legislation. senator schumer majority leader in the senate working towards this whereas maybe they weren't as aggressive going against social media companies, ideas, hearings, no actual legislation. this, they seem incentivized to do something about in part because there's huge competition. china and elsewhere. >> these executives want to get

ahead of legislation >> absolutely. saying since day one, several months ago, on capitol hill sam eisman there and senators in that kms were just appalled. couldn't believe they would have a tech executive there saying, please, regulate us. please, regulate us. of course, caveat, at asterisk regulate us the way we want to be regulated break something, fundamental and in the same trouble that we've seen over the last decade. >> stop perfock performances ate white house. is this what wall street wants to see white house and tech companies on the same page others say could lead to more regulation slowing down advancement of ai? >> going to lead to more regulation what biden and the lawmakers said is they don't want to fall behind here. but what does the market like? look earlier in the week what the market reacted to.

reacted to microsoft putting an actual price on their ai products $30 per user per month using that ai copilot in office. they like to see new product innovation over a week ago when going's added new features to its chat bar you saw stock go up 4% heading into earnings season so many companies seen valuations get really expensive. they have to justifying those valuations in this coming earnings season to prove that it's not all hype. we actually have teeth behind what we're doing. >> eamon, recap for us what came out of this? what agreement was reached >> it's an agreement on a number of fronts here steve talked about the water mark issue also agreeing to allow testing inspection of some of these ai applications before release them into the wild, so to speak a number of bullet points reached. listen to the president, gave a little road map to the future here talking about what he wants to do in meeting with g7 u.s. allies around the world in terms

of this issue. it's not just a u.s. issue, of course the sense contemplating more executive action and orders here on this. things he can do within the executive branch just by, without waiting for congress the two most likely next steps here some kind of global consensus building around this and the u.s. administration taking steps on its own i just, hard to see congress doing anything meaningful or this anytime soon given the current very narrow divide in congress the, building a coalition very, very difficult anytime before 2024. >> good start, still a ways to go. >> yeah. >> thank you take a look at shares of american express stock falling even though record credit spending boosted its earnings some feel the company's guidance was cautious as a result that stock falling today by 3%. it could be one of the factors standing in the way of a tenth

straight up day for the dow. even though right now the dow is up by a quarter percent. with earnings season still young and the fed meeting around the corner next week can bulls keep the run going? talk to dan greenhouse, with solace alternative asset management alternative nice to have you here in the house. >> thanks for having me, has the market gotten too hot for your taste or are you pleasantly surprised by what's been going on >> certainly it's been quite a run we've been on. i don't think anybody would dispute that the problem with that observation is that has no bearing whatsoever on whether the market should go up, down, today, tomorrow, the next day. a lot priced in now in terms of earnings season. pretty vocal i think this will be a terrific earnings season. relative to expectat expectat consider which have gotten dire. better in the month and the market senses that out.

>> a lot of forecasters and market strategists like you had been looking for a recession right? but they keep talking about it, but it hasn't come it hasn't come now it feels like if it comes it's going be a a mini recession? >> sure. with the caveat i don't think there are any strategists quite like me, this is the moment around middle of '23 when a lot of us thought a recession might be here. >> right. >> but let's call it six months ago it was pretty clear that wasn't going to be the case. jobs market and all the things we now know to be the case looked like probably would be the case six months ago. the issue now, okay, terrific market performance certainly market cap over equal cap led, all indicators suggesting trouble down the road the dichotomy to wrestle with over the next six months. >> how does chairman powell address that delicate dance at the meeting next week expecting

a 20-point basis hike and ecb to act as well? >> seems another rate hike is baked into the cake, but i think most investors should be of the belief one more hike two more hikes largely irrelevant issue, how long leave rates up at this elevated level considerably more consequential for the economy and ultimately markets. >> and that inflation number one more rate hike now. >> is warranted? >> executively told us they'll do one more. littered saying should, shouldn't, they told us they're going to 25 basis points. you know, whether 5.5, 5.25, 5.75 largely irrelevant. leave it up six months an affect on the economy. >> a number of big companies recording earnings next week tech, oil, hospitality look at the s&p 500, 1/5 report sewed far.

profits declined 7% compared to last year yet stocks are up. what are we missing? >> so far earnings are coming in better than expected, but when you read through the reports you mentioned a different number of sectors. look at home builder airlines you look at banks for sure hard-pressed to find commentary anything is marginally wrong lit alone recessionary best quote this season, ceo of pnc bank when asked by mike mayo about the landscape basically cut himself off and said we're not even seeing a soft landing insinuating the economy is still accelerating not a tone that's echoed everywhere but a microcosm of the better than expected nature of demand environment you see from the home builders and airlines and hotels. it's really remarkable we've said it 1,000 times. bears repeatrepeating. >> and softness in the consumer as american express alluded to on the call, the market will

move on? >> saw general mills not that long ago suggesting some price elasticities that worked in consumer packaged goods favor was wavering a bit pepsi came out weren't seeing that elasticities working in pepsi's favor. i think the general mills of world and maybe american expresss haven't been fully through yet, smaller part of the market still the economy is doing quite well with mortgage rates at 7% interest rates in the 5s it's been special. >> quickly, any particular sectors in the market you would lean towards or away from? >> for solace, busy in the energy sector several years. still are. i can't get specific also found a lot to do the last couple of years on the consumer side of things i mentioned sectors doing quite well you mentioned barberhymer. not suggesting the consume sir in trouble nothing on the immediate hoar rise be suggesting it's going to change. >> good to have you here.

>> thank you. and coming up, a frank talk on banks big banks overall crushing expectations this week despite many expecting a rough start to earnings season. how are the regionals, though, holding up speaking to the ceo of huntington bank shares. plus, aforementioned barbenhymer. reaching a viral hike leading to this will it live up to expectexpects we discuss, when we come back. dad, we got this. we got this.

we got this. we got this. life is for living. we got this. let's partner for all of it. edward jones ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com.

welcome back to "power lunch. regional post beating expect ace earning more from rison interest rates and seeing strong demand for commercial loans joining us now in a "power lunch" exclusive, stephen steinhauer thank you for joining us ceo huntington bank. looking at your presentation highlighting how deposit growth

outperformed peers what strategies allowed you to differentiate yourselves from the others >> we've had great innovation in our deposit products over more than a decade, and that is differentiated in a number of ways from our competition. also we have a fabulous marketing team and colleagues, our colleagues are perennial jd power award winners for service. combination of trust and confidence in the brand, great customer service and differentiated product very powerful we've seen this past quarter. >> stabilization in deposits what wall street wants to see. what about lending activities? whether you speak to a big hotel for a commercial real estate operator, they're releasing software not able to take out a loan when is activity or demand changing >> take a period of time first of all the question's about was the regulators will want by way of capital three implementations, t-lack, total loss of capital things

like that. they have to be answered for investors to feel confident in the sector i think as they are answered the underperformance at least i think, has been exceptional on credit we're confident in the portfolio of loans we have including commercial real estate loans you have to eliminate uncertainties. >> you mentioned -- >> then put us in a position to open up. as an industry. >> you mentioned a moment ago you have some differentiated products or approaches that have enabled you to attract deposits. could you be more specific what exactly they are and as simple as out-paying the competition for deposits >> no. our checking account products differentiated for a dozen years and a lot of the industries making moves recently. the last year or two, around things like over draft we put 24 grace overdraft in 13 years ago. a series of features and

functions, tyler, distinguish our checking products and standby cash an example. it's available digitally to our customers. no charge if they honor the terms of it's, of three monthly payments after they, do a takedown. >> a way to be a more consumer friendly banking experience for the people let me ask you, you're out there in the middle of the country, in ohio what are you seeing in terms of business conditions? just talked a moment ago about the idea that the notions that we were going to have a recession in mid-summer 2023 basically off the table now. what do you see? >> tyler, customers tell us they have a good view of the second half and optimistic. have a good year, some a great year this is not an imminent recession. they're working on '24 doing things like managing supply chain that's been better

working on margins, pass through inflation. making good progress there optimism yesterday about '24 albeit sales hype lines, backlogs not as firm as they mite have been a year ago. businesses generally are doing well. >> reflected in your stock price. from 15 back in march, 9 in may. levelling out around $11 a share. curious looking to next week the fed expected to announce a new banking capital requirement. how do that affect huntington? >> it's likely to be an increase $190 befillion bank and take it down to $100 billion building capital significantly throughout this year got a ct1 at 982 now. range 9 to 10 before whatever the next round of requirements will be and just continue to earn money, and build capital. it's like the old-fashioned way of banking we're in a position to help our

customers and we've got a growth momentum going on in the businesses optimistic about '24 as well as the second half. >> good to hear your optimism. appreciate your time ceo of huntington bank thank you. >> thank you. coming up, the gig is up lyft seriously underperforming rival uber this year what does this say about the new ceo's first 100 days we've got that, and more in today's "tech check."

welcome back to "power lunch," everybody. checking markets now closely watching the dow to see whether it can hang on for a tenth consecutive up day right now doing it higher by 78 -- probably jirjirngs jinxed it. slightly higher now. s&p after the big loss yesterday driven by tesla and netflix. nasdaq, excuse me. we show you shares of intuitive surgical lower following earnings company seeing slowing growth in demand for weight-loss surgeries. customers taking weight-loss drugs instead. can you say, mounjaro? go for a news update

contessa brewer. >> well, tyler, give you the news but i don't know what the news is, to be quite honest with you. there we go. police are now sharing more information about the man accused of ambushing police office earlier this month in north dakota authorities said today the suspect searched for the internet for terms like explosive ammo and kill fast as well as what crowded events might be happening police say using a special trigger allowing him to fire ram italy when he killed one officer and hurt two others as they investigate add routine car crash on a busy street and a civilian also hurt there. the united nations aid chief warned many could die as a result of russia withdrawing from the black sea grain deal. the wartime agreement allowed for safe passage of ships on the black sea. grain prices spiked as a result. russian claiming the country is negotiating exports of food to countries most in need.

president biden went against recommendation of defense secretary lloyd austin today tapping officer lisa frenteti to lead the navy. if confirmed the first woman to serve on the joint chiefs of staff and head a u.s. military service. seema, tyler, sometimes you just need a little help to get the job done know what i'm saying >> went with the flow, though. >> i did. >> thanks. right ahead here on "power lunch" all about the box office. we are going to explain the viral hype behind "barbie" and "oppenheimer." the double feature out this weekend and discuss what impact the writer strike could have on sales. ow lchwi brit back. at over 13,000 us school districts, which have become top targets for ransomware attacks. but there's never been a reported ransomware attack on a chromebook. which is why thousands of schools like the fairfield-suisun unified school district switched to google tools for education. so they can focus on teaching and 22,000 students can focus on learning, knowing that their data is secure.

( ♪♪ ) new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today. 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.

all these walls gotta go! ah ah ah! i'd love a second opinion. take the first step to see if your small business qualifies. sleepovers just aren't what they used to be. take the first step to see a house full of screens? basically no hiccups? you guys have no idea how good you've got it. how old are you? like, 80? back in my day, it was scary stories and flashlights. we don't get scared. oh, really? mom can see your search history. that's what i thought. introducing the next generation 10g network. only from xfinity.

welcome back to "power lunch," over the box office going into the weekend not with a whimper but a bang and "barbie." viral sensation around the two new blockbusters "barbie" and "oppenheimer. not much in common on the surface. reel really below the surface and some sways die medically opposed. how did these two unlikely

characters get paired in the, in the popular culture? >> yeah. opposites attract this weekend at the box office. bombs and bombshells what we're seeing barbenheimer happens when bsh b "barbie" and "oppenheimer" arrive in theaters same time seeing screening head to toe in pink wearing suits and hats ready for these two films. a trend with saw with "the rise of gru" back in july wearing suits and going for this communal experience together. this not only generated ticket sales also large concession sales for these cinemas. with barbenheimer instead of a competition between the two films we are seeing people wanting to go see both on the same weekend more than 200,000 moviegoers projected to attend same-day showings according to the national association of theater owners that is kind of crazy.

we've seen theater owners say they're adding more shows because there's so much demand for both of these movies already "barbie" tallied $22.3 million for thursday night's showings on its way to go more than $140 millionfor the weekend. seeing those expectations continue to grow every hour. as for "oppenheimer. snare $10.5 million thursday showings expecting around $60 million for that film. a big opening for the christopher nolan feature. two films together expected to do $200 million with added showings from the "sound of freedom" and "spider-man spider-verse" could be biggest movie with over $300 million in box office sales. >> incredible. does that really tell us all the viral hype, social media campaigns that will actually translate to sales >> absolutely. definitely going to see more and more people at the box office

this weekend for that communal experience to dress in pink, wear fun fedora hats and go see these movies. >> thanks very much. for more impact on the box office bringing in daniel loria of box office media. you and i wearing our pink ties. homage to barbie. >> and pink friday. >> pink friday this graphic over here is really great. whoever did that deserves congratulations clever barbenheimer, the box office how big a deal is this and likely to save, dan, in some ways what has been a relatively lackluster year for the movies >> i think a topsy-turvy year for the movies we've had movies that performed well like the super mario bros and spider-man, spider-verse and disappointments like indiana jones. the flash that didn't work out very well. this is an important weekend at

movies not talking about "a" movie. talking about the entire auditoriums in a complex so many titles that are out there. not only "barbie" and "oppenheimer." also "mission impossible: sound of freedom" different moviegoers to go enjoy. first time in a long time the conversation isn't just about going see a movie but going to the movies and a part of that experience. >> could this be it with the hollywood strike, writers and actors as well is this the big moment for movie theaters once momentum starts where do we go with no filmed being created. >> none currently in production. alters i think the 2024 schedule actors not able to promote films probably going to impact the 2023 box office. but rest of the year slate, most of it ready to go. films are going to continue that awesome momentum with a promotion, trick pip important for a weekend like this one really making a statement with moviegoers that the experience is what's worth it

i think movie theaters all over the country and all over the world are working really lahardt get to that level. >> who are the targets of these two moevies one technicolor, super technicolor the other is gray. black and white-ish. one very, about, a a nuclear genius the other about a plastic doll. >> right i don't know which is which. there is a nukeclear genius bar shsh barbie we like demographics the reality my colleague reminds me, that movies have overlapping demographics you see that opening weekend audience from "barbie" the numbers said, those numbers aren't a single demographic. it's many demographics. >> not just young girls? >> exactly a lot bigger we have that barbenheimer double

feature phenomenal something to be careful with now. a good friend of mine a mother of four, three or four girls are under age of 10. "barbie"'s rated pg-13 might not be a family directed general audience movie that a lot of people expect and maybe a little older going to cost it ticket sales. warner brothers knew it coming into it. developed a movie that gave its writer/ writer/director, gretta gerway the ability and space to present something different. family-friendly titles for barbie fans for younger girls to watch at home. this one's different. >> we know both films cost a lot to make. how do you think movie budgets are affected going forward this idea you kind of have to go big to make a big win, too >> a movie right now having a great grass roots success over the country. "sound of freedom. a culture war conversation i don't want to get into the rabbit hole. not a big-budget movie a movie able to tap into

audience through grass roots marketing. big budgets help and so does word of mouth. >> "barbie," so many movies, so many movies a part of franchises "barbie" is not yet a franchise. i'm sure they plan for it to be a franchise. what else is in the pipeline for remainder 2023 i guess most of the strike, it's going to affect mostly 2024. most of the things released this year are in postproduction >> absolutely right. right now what moviegoers are looking at, the big performers, movies that won't need talent. won't need actors to probably. ip the like marvel they sell themselves superheroes. selling coca-cola. don't need the star power. >> can't do the red carpet, but they're super heheroes wish from disney animated title over thanksgiving that's the type of movie in this

context of the strike that i think we're looking at to really help push that box office forward. >> daniel, stick around. dive a little deeper into this stock impact of the releases barton crockett of rosenblatt securities joins us now. listening into the conversation. i'm sure movie theater stocks, yesterday saw netflix post its biggest one-day loss of the year >> the studios and the movie theaters needs good news it's been a really tough stretch for longer than i think anyone expected, and this is a weekend that they've been hoping and praying for. then we're getting, keep fingered crossed have to see numbers come in and the holds, couldn't look better versus what we've been seeing. >> outlook for amc specifically? >> amc is not a stock i cover but i think obviously the overall box office will be helpful for the theater stocks

my colleague covered imax with a birating i think the box office recovery here is, you know, certainly something we hope sticks around. certainly i think we see better positioning from an imax huge towards the biggest movies. not "barbie" in this instance unfortunately. they have "mission impossible" and some "oppenheimer. in general the biggest movies are the ones that are able to cut through kind of the inertia. why people have so many things to think about what they want to do between the internet and the more experiential kind of travel and entertainment people are doing, and so these big movies sometimes break through. like the"spider-man" and "barbie" here. >> what's the future of studios? warner brothers, paramounts, universals, disneys? because it has been as you point out a tremendously challenging

time that began back in the pandemic and so forth, but also because of the changes in the way theatrical productions are presented to the public. >> yes look, i think that's a great question, because the economics of making a movie are very different today than they were let's say five years ago, before the streaming thing took off used to be most of the money that, profit from a movie home video. selling those dvds and selling rights to other tv networks. premium networks like hbos of the world and later on the free networks like fx. we're seeing with streaming now the model is you do the big movie in the box office and then keep it in-house killing the dvd sales and means you don't get that tv licensing from another tv network. the profitability of movies is much more challenged, which box office can be there. a little hit and miss obviously.

but over alleconomics of movies are more difficult than they used to be more an expense you need to cover with a streaming business. right now vmo cut costs because we're losing money difficult. >> yeah. >> future i think for content is in a this transition's to basically support for streaming and streaming could transition more towards the big tech platform could i match an future where you, the studio presence, bigger presence in amazon and apple yeah could happen. >> dan, you can't get away from the analogy to record labels and artists there. the way their business changed, and the money is now made, but it's made in a different way and sometimes your not receiving dimes or dollars receiving pennies per play. >> exactly that's streaming money's made in the record industry still is in the live performance. >> live performance and merged,

taylor swift. >> similar at movies now look at showtimes and parent company, box office company, tracks showtimes all over the world. here in north america, u.s. and canada, 45% of show times this weekend are for "barbie" and "oppenheimer." that's nearly half of every single show time in his country movie theaters going for these two big tent poles this is the "eras. the taylor swift, what this weekend is bringing. of course, look at that 45% understanding "oppenheimer" is a three-hour-long movie. not bringing in as many showtimes. >> it's two. >> "barbie" taking bulk of it. where the industry's going there are some drawbacks to that we want more diversity in the schedule different movies coming out same weekend. exactly what we're talking about right here right? different movies, different audience segments. i'm afraid that we might lose sight of that continuing in this one tent pole to carry the market.

>> love the pink tie, my friend. all right. barton, great to see you dan, great to have you with us my son saw "oppenheimer" last night. three hours of it. >> did he? >> wasn't quite the action film that he likes. >> all right still to come, the lyft ceo's first 100 days in office our own deidre bosa sitting down with david rischer for a fnkra talk about the company what he said in today's "tech check. we'll be right back.

we planned well for retirement, but i wish we had more cash. you think those two

have any idea? that they can sell their life insurance policy for cash? so they're basically sitting on a goldmine? i don't think they have a clue. that's crazy! well, not everyone knows coventry's helped thousands of people sell their policies for cash. even term policies. i can't believe they're just sitting up there! sitting on all this cash. if you own a life insurance policy of $100,000 or more, you can sell all or part of it to coventry. even a term policy. for cash, or a combination of cash and coverage, with no future premiums. someone needs to tell them, that they're sitting on a goldmine, and you have no idea! hey, guys! you're sitting on a goldmine! come on, guys! do you hear that? i don't hear anything anymore. find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. we've got one hope. a bomb.

4... 3... 2...1... they just fired a starting gun. lunch. today's "techcheck." deidre bosa with her interview ceo of listen-theyft. first 100 days in office. >> used to be extremely fierce easier, i remember myself covering that hashtag, capture more market share eventually lead toggasster of the ceo these days, however, competition feels a lot less fierce. the point i asked lyft's relatively new ceo are they still in competition what they said >> for sure. for sure look, being number two is not a

terrible thing pepsi a pretty good business you can have a great, great business and be number two overtime i hope we do such a good job our positions switch. that's not the goal. get better every single day for riders and drivers the better we do the more our share will go up. >> coke and pepsi. one more dominant than the other, interchangeable players hoping consumers can have both apps on their phone. uber, irony of it, probably need lyft as a quiet smaller number, too. so it can continue to gain market share and be the dominant player without regulatory scrutiny interesting point i thought mike santoli brought up in the chat earlier. intel and amd a similar dynamic. amd smaller player until all of a sudden decided it wasn't this has been a long journey that will continue sort of at a lull in the ride-sharing space companies, remember, raise billions and billions of dollars. the case of lyft more than $7

billion. market cap less than $5 billion. not rewarded investors consumers have benefited. >> i like to look at, deidre, marriott versus airbnb this year airbnb up 70%. look at uber vest lyft clearly uber is winning the race what else does lyft need to do to convince investors it has the right growth plan in place >> i don't know they want to diversify and make any big changes in the way that ouber went into food delivery. you hear from david and see from the team focusing on that core they don't want to diversify, focus on ride-sharing raising the question how much can this company be worth remember, it ipo'd at $72 or $$7 a share.

uber recently surpassed its price. innovative disruptive companies or utilities creating value over time may not be at disruptive at the vc world in particular once thought they would be. >> he said among other things to compete every day and get better every day. lots of ways that lyft can and does compete quality of service, timeliness cleanliness of the cars. so on. the other one would be price did you get a sense from him that on the, those metrics of competition one is more important than another in other words, that he's going to emphasize lower price over other things >> this is a really important point for wall street, because when he came in and i sat down with him, right when that announcement hit, taking over for founders i asked another price war? he said essentially, we're going to compete on price but now 100 days out i asked him do you continue to do that? that won them a few ways in

competing. talking about tyler, ways that they do this talking, hear a lot more from him. tune in to that. "techcheck's" special edition tonight. pt and go more into a strategy how he plans to take on uber how he's thinking about the space in general. >> looking forward to t. great see you then. >> thanks. coming up here on "power lunch," leaninding investors to water. pushing wall street to look at water treatmenstks tas,ext.t oc you got this. let's go. gobble gobble. i've seen bigger legs on a turkey! rude. who are you?

i'm an investor in a fund that helps advance innovative sports tech like this smart fitness mirror. i'm also mr. leg day...1989! anyone can become an agent of innovation with invesco qqq, a fund that gives you access to nasdaq-100 innovations. i go through a lot of pants. before investing carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com. with your hearing, if you start having a little trouble, you're concerned that it's going to cost you money. to this day i only paid what i had to pay for the device... when i go back everything is covered. there's so much you're missing by not having hearing aids. we'll find you a hearing aid that fits your lifestyle and budget at one of our over fifteen hundred locations. call miracle ear at 1-800-miracle and schedule your free, no obligation hearing evaluation today. ♪ (upbeat music) ♪ ( ♪♪ ) constant contact's advanced automation lets you send

the right message at the right time, every time. ( ♪♪ ) constant contact. helping the small stand tall.

welcome back consumer awareness over toxic chemicals recently found if water. the latest geological survey finding 45% of u.s. water drinking samples one p-fast chemical separately alleges major telecom companies used toxic lead capables potentially contaminated water sources wall street expecting demand for water treatment technologies to increase with the bill earmarking $10 billion tied to

cleanup. jeffress analyst pointing tol filtration systems that can reduce these levels as well as the leader in the space recently acquires evoqua. following the story with 3m and others, am i drinking clean water? if not what products can we use? >> clean water solutions mostly household by household or locality and the water system by water system >> great point it's both. one used at commercial level help water utilities upgrade systems if they in fact have water contaminated a lot of households saying take this into our own hands and find products we can use at home to reduce those toxic levels as well becoming a growing market. seeing private equity and start-ups coming out with new products it's not easy to get these, to extract the toxic chemicals.

>> thanks very much. $1241, huge payout in poker. the winner takes all joining us next. power e*trade's easy-to-use tools, like dynamic charting and risk-reward analysis help make trading feel effortless. and its customizable scans with social sentiment help you find and unlock opportunities in the market. e*trade from morgan stanley. with powerful, easy-to-use tools, power e*trade makes complex trading easier. react to fast-moving markets with dynamic charting and a futures ladder that lets you place, flatten, or reverse orders so you won't miss an opportunity. e*trade from morgan stanley

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. prevagen. at stores everywhere without a prescription.

ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. >> everybody. look at this the moment daniel weinman's life changed forever.

he won the main event of the world series of poker taking home first prize of $12.1 million. he beat out, get this, 10,042 other players in the biggest main event ever. each player anted up $10 that play you can see, totally overcome there. creating a prize pool just short of $100 million. whether you this it's a sport just a game, the money, the money, is very real. joining us now, daniel weinman winner of the 2023 world series of poker main event. congratulations to put it mildly it is a long slog. these are marathons, aren't they >> absolutely. i mean, the world series of poker main event is a 14-day-long tournament i believe from start to finish there are a couple off days at the beginning, but it is nonstop, 12 hours a day for the last ten days. >> how many hands do you have to play >> i want to say the final table

itself was one of the shortest in history only about 160 hands. but over the course of the whole tournament, it's probably in the neighborhood of 200 to 300 hands day. probably 3,000 hands for the entire tournament. >> i'm asking a dumb question. i play poker but not at any competitive level. how much is luck and how much of it is skill and how much in this particular occasion was luck versus skill >> i think it's a great question i think that if you ask just the poker layman say it's 95% luck and over the course of one tournament, that's not too wrong. i mean, out of 10,000 people, was i the best poker player in the tournament absolutely not was i a very good player luckiest for sure in the long run in poker i would argue poke sir 99% skill. >> 17 years since the last record set how does it feel to win $12.1

million? what are you going to do with it >> it still doesn't feel real. still this week i think one day the tournament wrapped up and i kind of was expecting to wake up any moment i don't think it's going to change my life all that much the money is incredible. i'm out of money never really considered, that amount of money. i don't see myself quitting my job. >> what is your job? what is your job >> oh. i'm a software engineer atlanta. combines two things. i know the most about. >> on chat groups earlier today. did you make a deal with the runner-up to hedge your bet or walk away with 100% of winnings? >> ended up not making a deal but i managed to hedge some winnings away from the table. >> can you explain what you mean by that? >> i ended up selling a portion of my equity in the tournament to a few investors so by the time stephen jones and

i ended up playing one-on-one for the title it was a $6 million difference between first and second, seemed like an irresponsible amount to gamble for. even because one-on-one poker involves so much luck. i was able to figure out equity that my chip stack was worth and sell some of that to outside investors. >> that's interesting. so -- so is there a moment in time -- let me ask it this way how many of the players there play poker full-time progressionally as opposed to a person like you who has a full-time job and plays poker as a side passion >> i would say about 20% of the field are full-time professional poker players. i still would -- myself, lump myself into that category. i like to joke poker is still my job and my software engineering job is my hobby. a good 80% of the field are kind

of guys who enjoy playing poker with their friends, and either win some kind of, win a tournament to get into the main event, or raise money from friends and family to play >> daniel weinman, thanks for being with us. congratulations once again, stakes high and he did it. >> he did it thanks for watching. "closing bell" begins right now. all right. seema, thanks. welcome to "closing bell." i'm scott wapner from post nine at the new york stock exchange on this friday we have an important interview coming up in a little bit. mustafa suleiman, in the room find out what was said this make or break hour begin wis a critical moment for the rally. biggest week of earnings looming along with a fed meeting and more this as the dow goes for its tenth straight day of garins longest streak since 2017. health care strongest sector followed by financia