hi, everyone. welcome to "on the money." i'm becky quick. prices at the machine this time in your kitchen and home. a fridge with recipes and an oven that knows how to cook. what could go wrong? and a bionic arm that sounds like science fiction. >> here's my power grip. >> father's day money lessons from kids. what you can learn from your children about your finances and what they do better. keeping fido out of harm's way. "on the money" starts right now. >> announcer: this is "on the money." your money, your life, your future. now, becky quick. our houses are

objects and they are getting smarter and more connected. is that a good thing or is it too much control to technology? that's our first story. cameras that let you know who is there, therm stats changed by a smartphone. major tech companies are leading the advances. both amazon's echo speaker, known as alexa and google homeworks with smart homes. earlier this week, apple announced an app called home which let's you connect devices all in one place. consumers are opening up their pocketbooks to the future. buyers are more interested in homes with smart features. and 33% say that connected houses sell faster. soon you may find food sensors in your refrigerator to tell you which food is expiring and a cutting board to let you know what has been placed on it. >> people have s m

helps in other parts of their life but food has stayed pretty analog. >> and an oven that can sense the type of food you put on the rack and will automatically adjust the cooking temperature. joining us to talk about this is former white house chef and now chief experience officer at tech startup in it. and managing editor. folks, thanks for being here. >> so great to be here. >> so i am intrigued by everything that i hear about the potential of these things but i'm a little wary. what actually works? >> in it, we're focused on helping people eat and live better. right now, cooking is too hard. it's stressful, takes too much time. >> attention. >> also, we're worried it's not going to turn out well. if you look at the kitchen, in a weird way, technology has missed it. our lives are moving at the lightspeed with our

getting faster and the kitchen has been unchanged. >> since the microwave. >> it's the only thing since decades that has happened. and we've seen people cook less and less over many, many years. >> what can you do? tell me about the in it oven. >> we just announced yesterday a major partnership with whirlpool and gen air. you'll be able to cook food with the app and ensure that a rack of ribs can be done in less than 50 minutes and come out perfect. >> no badly how i put into it? >> all you do is enter the weight and tells you when it's done. you're free to help your kids with the homework and not worry on a tuesday night, is this going to come out right. >> or it's going to be rare and not done in time. >> and it's that risk that people can't afford to take on a weekday that keeps them from cooking and

or do a frozen meal and that's dramatically undermined the health and well-being of families. we know we can unlatch incredible potential to help them eat and live better. >> i like that message. dana, let's talk about other areas of the home. it's not just the kitchen. it's things like the thermostat and locking the door and security features. what other things are going into the home these days? >> it's really every aspect of the home, not just the kitchen but also, as you said, thermostats, there's a security element to it, we've seen connected cameras. we've seen, as you have said, smart locks. we didn't see smart beds. >> that is creepy. what are they tracking? >> i see you're wearing a fitbit. it's like the same sensors or similar built into your bed that can track your sleeping habits without you having to go to bed wearing a bracelet. >> there is a concern about privacy, how much do you want to

doing in the house. when does something go from being helpful to creepy? >> you've seen a lot of gadgets, sort of nice to have things but for us it's focusing on what is helpful. >> useful? >> this is not technology for technology sake. and i think you can go off the path and ends up confusing things. you have 15 different sensors doing 20 different things. >> sure. >> that makes life harder. >> sure. >> we need to make life simpler. >> to that point, i'll eventually get dragged along kicking and screaming into all of these new products when they show up. at the beginning i'm a little reluctant because it's one more thing that i have to call an expert into the house, what if i can't figure out how to shut this off or turn this on. what's the answer to something like that? >> i think we'll see some sort of a convergence. apple makes the underlying technology that underpins some of these smart

for a while it's been a wild, wild west. companies are experimenting with different kinds of products and apps to go with them, which i think is really key because that's the way you interface. and i think some companies have been better at it than others, which is why it's interesting to see apple jump in this week with the home app, which will allow people to control a lot of different gadgets. >> what's the coolest thing you might see that you think we might see in the next five to ten years? sam? >> from all of our studies, you'll be able to have your fridge know what's inside, suggest recipes based on what you have. >> i like that. >> and when things are going to go bad and with one button, order what you don't have and in one or two buttons you'll decide what to eat ready to cook in an oven that will know what it is. >> that i will buy. that's like the jetson's. >> yes. >> but it frees you from the parts of cooking that are stressful that you don't like so

delicious meal. >> thank you both for being here. >> great to be here. >> thanks for having me. >> great to see you. now here's a look at what's making news as we head into a new week "on the money." hold your breath on this one. the federal reserve met this week and did nothing. the janet yellen did not raise interest rates saying that the labor market is slow. they lowered the possibility of future hikes. and the brexit. we'll have more on that vote in just a moment. in the meantime, stock broke a five-day losing streak on thursday rebounding from an earlier loss earlier in the day. the nasdaq and s&p 500 followed suit. stocks fell on friday. and shanghai disneyland has opened a store for business. it's the sixth park and more than 330 million people live within a three-hour trip of that park. guess it really is a small world after all. a few

mentioned brexit, the potential british exit from the european union. what exactly is it and why should you care? >> the first incarnation of the european union rose from the ashes of world war ii to foster economic cooperation. it grew in size and scope over the years and became known as the european union in 1993 which also introduced the idea of european citizenship. today, there are 28 members. in 2002, the euro was first introduced. britain, however, did not adopt the single currency and maintains its own currency, the pound, and its own monetary policy. now a growing number of citizens want to leave the eu altogether due to concerns over immigration, loss of sovereignty and the effect of eu bureaucracy on businesses. a vote on whether to leave or stay will take place on june 23rd. prime minister david cameron

>> i believe britain will be stronger, safer and better off by remaining in a reformed european union. >> while boris johnson leads the other. >> and over time the uk economy would get [ inaudible ] from the removal of so much of the regulation and the inaction and inappropriate that holds us back. >> that vote takes place on thursday. up next, we are "on the money." this robotic hand of the future is here now. see how technology is helping wounded veterans gain more independence. and later, it's no secret that dads love giving advice to their kids. but when it comes to money, does father really know best? we'll talk about all of that as we head to a break. take a look at how the stock market ended the week. ♪

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sometimes modern medicine makes such incredible advances it can be hard to separate fact from fiction. but what we're about to show is indeed fact. a new understanding of how our bodies are wired is translating to major advancements in prosthetics. hi, meg. >> that's right, becky. as we learn more about the brain and central nerve shoous system are helping soldiers returning from war. we visited a department of the defense to learn more. fred downs was 23 and a soldier in vietnam in 1968 when a land mine took his arm. >> i lost my arm up here when i stepped on a land mine and almost lost this arm and almost lost my legs. >> reporter: when downs returned from the war, his options to

>> the army fit me with what i call a hook, which is a plastic arm that was the only thing available in those days. >> reporter: he wore that style of prosthetics for 47 years. in 2009, he was given a chance to use this. >> here's my power grip. >> reporter: the decka arm is built by decka research and development and funded by a branch of the department of defense. downs uses sensors mounted on his shoes to control the arm and he says the technology is a huge improvement from his old prosthetic. >> for the first time in 47 years, i have the ability to use my left hand to grasp things. >> reporter: it's part of a recent wave of technology that is helping change the way we think about what prosthetics can be. >> let me show you something really cool. >> reporter: dr.n sanch works with a team of researchers across the

types of prosthetics and they are doing things that just a few years ago may seem like science fiction. the next generation connects directly to the brain and has the same range of motion as a natural arm. it even has sense fors to allow the users to feel pressure. >> we can do very light touches, harder kind of touches and the person can distinguish between the light and hard touch. >> reporter: people like jan are showing how promising this can be. she was diagnosed with a degenerative disorder that left her unable to move her arms and legs. she underwent surgery to have sensors installed in her brain that could control a prosthetic arm. after some training, she showed that she could control the arm by just thinking about moving it. feeding herself for the first time in a decade. >> the ability to take care of yourself is so crucial, you know,

getting dressed, all of those are what you need as a human being to have your dignity. >> much of that work is supported by the human genome project and still in the early stages of development but the hope is that they can transform options for both soldiers and people facing debilitating diseases. >> you know, it's amazing to see that and to see fred able to maneuver his happened so quickly. what's the learning curve? you tried it out, too. how tough is to use? >> fred control it is with his feet. he does a complicated tap dance. he's been practicing with it for years. i can imagine you have to learn it over time. what jan sherman was doing was connected directly to her brain and talked with the researchers and they said it's something that people are able to do pretty quickly

it's something that people can wear in their lives. >> it was weird because it was mirroring my movements and i was worried when doing the high-fives i smacked myself in the face. >> meg, thank you very much. that's inspiring. >> thanks. up next, we are "on the money." dads, you might want to hear this today but your kids might have a better idea to do with their money than you are doing with yours. the valuable lessons you can learn from this. and later, do you want to keep your pooch safe and h it's more than a network and the cloud. it's reliable uptime. and multi-layered security. it's reliable uptime and multi-layered security and how you stay connected to each other and to your customers. and cloud and hosting services - all with dedicated, responsive support. with centurylink as your trusted technology partner,

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dads are always full of words of wisdom but when it comes to the money, should you listen? a new fidelity survey shows interesting results. joining us right now with the details is senior personal finance correspondent sharon epperson. sharon, you would think that dads probably know best in most scenarios after decades of dealing with money and issues. what did you find out on the survey? >> well, dads know best most of the time but not all of the time. they could learn something when it comes to money in some cases. one of the things that dads do very well is save and they have done this because they have they have built of savingsnd

some because of the financial crisis that they faced of not having enough in the savings, they are trying to ramp it up. so the rate is at 11% which is far greater than millennials. keep in mind, millennials saving 7 or 8% -- >> is huge. >> is huge because they are starting early and i think they are on good track. they are listening to dad and that's a good one. >> where are the areas that you say the boomer dads could really listen to their kids? >> well, in erterms of talking people about money, daughters do a far better job than sons and then dads in terms of talking to other people about where they are investing or how to invest. talking to others can be experts, family members. the issue is, you have to be very careful with who you talk to. it's great that young women are talking to people about money. make sure that the folks you are talking to have good financial habits and, in some cases, that may not being your parent. that may be a financial adviser, someone else. depending

their money through hard times. >> what about sons? if daughters are out there and actively talking to people about what they should be doing with their finances -- >> invest your money. don't be afraid to invest. sons are actually investing at a higher rate than their dads and then daughters as well. older women and younger women are far more conservative with their money. they will put their money in cash before they put it in the market. >> which is bad news if you've got decades to save and a lot of time and hopefully you can get more for your money over the long term. >> exactly. take a little bit of risk with your money so you can larger returns over the long run but the good news is that you're saving already, that you have the money you could possibly invest and that's great. watch what dad is doing in terms of investing as well. you may learn something. >> sharon, thank you. >> sure. up next "on the money," a

are heading into the dog's day of summer. advice onow to keep your pooch safe and cool for the hot days see it all... hear it all... and feel it all... all summer long. jeep renegade -- it's how we live 4 by 4 summer. in new york state, we believe tomorrow starts today. all across the state, the economy is growing, with creative new business incentives, and the lowest taxes in decades, attracting the talent and companies of tomorrow. like in buffalo, where the largest solar gigafactory in the western hemisphere will soon energize the world. and in syracuse, where imagination is in production.

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for more on our show and guests, go to our website otm.cnbc.com. here are the stories that may impact your week.

time to enjoy the sunshine. it's the summer solstice, the longest day of the year. also, changing its name to trump. uh-huh. that is short for tribune online content. on tuesday, janet yellen begins two days of testimony before congress on monetary policy. on wednesday, existing home sales numbers for may. on thursday, citizens of the uk will vote on whether or not they want to leave the eu. we all know it's important to stay hydrated and cool in the summer but that can be pretty difficult when you are wearing a fur coat. so what do you do to make sure that fido stays cool during the dog days of summer? joining me is veterinarian dr. katie nelson. thank you for being here. >> absolutely. >> under bite. >> absolutely. >> this is our test case. >> that's right. >> you put on some products. >> i

there are gel packs inside of it. you can freeze these or free the whole vest and put it on your pet to keep them cool in the summertime. >> it's not too cold if you freeze it? >> no. you may want to stick it in the fridge. and this is a collapsable bowl that has the same gel pack in there that keeps their water cool. other things to do, though, check in to pet health insurance. it's a big, huge thing. >> i always wondered about it. is it worth it? >> it absolutely is. so many americans don't have it. less than 6% of dog owners have it, less than 3% cat owners. everybody thinks it's going to be super expensive. it's anywhere from $13 a month up to $40 a month depending on the type of policy that -- >> will it cover what you need? i've had people who say they absolutely love it and people who say they were not able to go to the vet they wanted to use. >> i never experienced the not being able to go to the vet thing because it's not human health insurance where the

it's you filing the claim. you go, you pay and then you get reimbursed and most of the time it's about 80 to 90% reimbursement. >> that's huge. on a lot of different things. >> what about other preventive measures things we could be doing? >> make sure they have a microchip. almost the size of a grain of rice, implanted under their skin, anytime they are found and they go into a veterinarian or shelter, they will take this scanner and run it over the back of the pet and they will tell you if there's a microchip. >> even if the collar falls off, they know who to call. it's a perfect time to get ice cream. can we give that to the dogs as well? >> it's got way too much sugar in it. one thing you can do, grab a banana, some peanut butter, not the sugar free in it. that can be toxic. and some coconut oil. put it in a boil, mash it up. and put it into a cute little container like this and stick it in the freezer and y

healthy treat for your pet that's got some omega fatty acids in there and it's super yummy. >> and he's back. you want a snack? >> you want to try some of our peanut butter? >> it's a winner. >> it's a winner. >> dr. katie, thank you so much. >> thank you guys so much. >> eddie, thank you, too. that's the show for today. i'm becky quick. thank you for joining us. next week, what to do if you're ready to stop working but the economy and your retirement cash has some other ideas. each week, keep it right here, we're "on the money." have a great week. we'll see you next weeke

good morning, america. happening now. new details about the orlando gunman's wife. did she help him? and how much did she know? an exclusive interview. >> i thought she was incapable of being an accomplice. absolutely incapable. plus, omar mateen's own troubled past. all this, while thousands take part in a touching tribute for the victims. deadly heat wave. tinderbox conditions. sparking fires across six states. hot spots threatening to flare up again. more than 50 million americans affected by these unbearable temperatures. when can we expect any relief? south pole rescue mission. a medical emergency. the daring attempt to save at least one person in distress at the bottom of the world. it's one of the harshest environments on earth.