op welcome to "power lunch." alongside kelly evans, it just feels right. it is such a good place to be. i am dominic. coming up on the show, we got

teslas troubles. a reported investigation into self driving claims and whether it committed securities and or wire fraud during the criminal investigation. that is coming up. >> looking forward to that. morningstar is outstanding portfolio manager of the year. she runs a fund focused on underappreciated companies which pay reliable dividend. we will find out. let's take on the markets first. but it the dow is up 122. look at the others in the red. the s&p down two points, the nasdaq down about a quarter of a percent right now. a lot of stocks are on the move following earnings. jumping on an earnings beat in a phase 3 trial. after its first report of the company. said a year from now and got it already. trip adviser getting crushed on that lower guidance and the rejection on a takeout opera. 29%. we will trade more earnings, movers and lunch coming up. >> first, let's start with tesla as that stock is falling. 2% off of its worst levels of the day so far.

i am looking at right now. it is so nice to have them in the studio. he is doing well, he is getting his microphone sorted out. it's going to be fine. we can hear you loud and clear. >> three ring circus out here. a lot of movement. >> let's talk about phil and what is happening with tesla. >> let's start first off with the news this morning that pushed the stock lower. i'll couple of probes that is been reported. we have reached onto the s.e.c. and the doj to see if we can get some confirmation on this. we have not heard back. here is what is reporting. both the s.e.c. and the doj are looking into full self driving and autopilot systems. the question is, did elon musk wrist misrepresent the capabilities of those systems? possible security fraud, possible wire fraud charges

depending on what they come up with. keep in mind a couple of things. first of all, tesla autopilot is different from full self driving. it is not fully autonomous. neither system is. tesla has told drivers stay alert, you have to stay aware. people sit there and say when you call it autopilot, you are pretty much implying that you don't have to pay attention. then there is the question of what happens with full self driving. full self driving basically comes down to this. you got a camera-based system using ai and teslas nerima. put that altogether and they believe that they are making huge progress in terms of the ability of tesla vehicles to maneuver themselves through traffic. even complicated situations. having said that, the price has been going down. it's now $8000 in the united states port $99 a month, depending on which system you go for. at the last report regarding how many people had bought full self driving over the life of

tesla, it is about 400,000. with the current number, they have never broken that out, nor have they broken out the revenue that they get from full self driving. put all this together and it raises the question what can we expect from robo taxi when tesla makes an announcement on august 8th, which is what elon musk has said? that is the announcement. we do not know what that announcement means. is it going to be showing us a vehicle with no steering well? is it going to be announcing plans for future rollout of a robo taxi? a lot of questions and terms of what that means. tweeted out that plans to roll out the next version of fsb. 12.4 is the next version. by the way, i forgot to mention adam jonas is one of those who had said look, i tried this. there are a lot of advantages to the system. a greatly reduced my overall

fatigue level. there is still a long ways to go to remove the steering wheel in my opinion. for what it's worth, that's one analyst view. >> i appreciate the way that this comes down. this has been brewing for a couple of years. the prosecutors will need to demonstrate teslas claims crossed a line from legal salesman ship. elon musk has been in the middle of these kinds of moments before. >> i have listened to almost everyone of their conference calls when they do their reports. he has asked about full self driving, he will clarify that we do need to pay attention of the driver. and it says in the tesla language. i have heard from people saying why are you defending elon musk? he has made that clear. his statements are out there but also people who will say yeah, but he said you could drive without any hands on the steering will add various times

in the past and gave the impression that it is 100% autonomous. >> this is a sharp contrast. the name where we saw them putting on a video claiming that the truck was driving itself. that would be a great example of materially false statements with misleading people intentionally. >> how many years? several years he ended up getting imprisoned for that. will teslas claims for marketing rights to the same level? teslas full self driving. they are moving forward with a plan to launch. talking about in china. joining us with that side of the story. >> hey, kelly. it is great to hear your voice. the state backed media is citing sources today saying that chinese officials had told elon musk during his recent trip here that "china welcomes

tesla to do some robo taxi tests in the country and hopes it will set a good example " if this would happen, it could be very beneficial for tesla because it would be able to experiment with robo taxi and in a more conducive, regulatory environment compared to the united states. at the same time, the state paper had flagged that the full rollout and a broader rollout of the software in teslas cars was not currently on the cards, saying that tesla still had to get approval for data collection as well as data transfers and it also laid down the announcement of a deal that -- between tesla on mapping. the accuracy for maps but not necessarily related to fsd. the messaging hear from beijing is that on the one hand, they

are quite happy to have tesla here because currently fits into the national agenda of becoming a tech dominant player worldwide. at the same time, looking a bit cautious about tesla. at the same time, we have seen china approve a similar driver for its chinese rivals. >> anything like this currently exist in china? a lot of the chinese ev makers have leading-edge technology. when it comes to the idea of robo taxi's currently in trial? >> definitely. there are zones that have been designated in different cities where various chinese companies in the car industry have been rolling out and experimenting robo taxi's. one that really stands out is

by new. in the city of you could literally have a 24 seven service where people will call the taxis and have them pick them up and just drive them around the city. it is still limited because it is in designated areas but it's something that the government is pushing. >> all right, eunice. this is interesting only because you both mentioned robo taxi's. phil, i want to bring this and give you the last word. over the last several years, arguably 5-10, china has made no secret of the fact that they want to dominate in a couple of key parts of the world economy. that is electric vehicles and artificial intelligence/supercomputing. do they have the environment in china with less restrictions -- i hate to say that about a communist country, but less restrictions to allow this kind of development more so than we

will have here because of the types of legal wrangling's that we may have to go to for things like full self driving, robo taxis and everything else. >> yes. >> i think that if the chinese government wants to make sure that robo taxi can truly work, they will, in my opinion, they will say whether it is a restricted zone or city, town, whatever it might be. you are going to work there. there are going to be some messy outcomes when robo taxi start to develop. that is the reality. you are not going to eliminate accidents completely. the question becomes who can withstand that messy, messy transition. if the chinese government wants to make it happen, they will make it happen. the question is, could they advance it quicker in the united states?. here in the united states, look what happened with one accident. what are the regulators do? shut it down.

crews will ultimately come back in some fashion but it's going to be a much more cautious approach. we would be much more reluctant to allow. if it runs over somebody in other areas. i think that the chinese really want this to happen. >> that is a much bigger conversation. monday will not have more often. thank you very much very much. now down about 9% or so after the ride-sharing company reported an unexpected net loss for the quarter. has more in today's technic. we've been talking about the robo taxis with phil and eunice. could that be a threat huber and left? >> not how far off this threat is but certainly, anxiety has been rising. it was the question on both earnings calls.

it was the first question on the overcall and the anxiety really began when shares of lyft and uber fell just a few weeks ago. elon musk said on that call of his robo taxi ambitions, operating the fleets you can think of tesla like some combination of airbnb and uber. operate their own fleet, potentially replacing the existing ones. let users lend other vehicles like they may lend out a room or their home on airbnb. both lyft and uber were asked about it over the last 24 hours. both shrugged it off saying they see robo taxi not as a threat but as an opportunity and they believe adamantly that they will be key partners in whatever shape or form it takes. this morning that it never underestimates. the tesla robotaxi is still an idea, far off.

you have operating where i am. you see them on the road all the time and they are already partnering with uber . >> i want to bring it back to the here and now and talk about the bullishness that both lyft and uber expressed . they basically said we are seeing no evidence of a slowdown and the first to feel it. said not only seeing a slowdown, we might be seeing the opposite. he said that they even saw an event over the last few months. they said that taylor swift concerts continued to push growth. they said they saw a huge eclipse bump that pushed up schedule rise by 20% year-over year. said more premium rights and. not seeing any evidence of a slowdown. another important indication from economy companies with

airbnb and instacart as well as slightly different categories >> i thought it was interesting how we talked about the instacart ownership. have a lot of overlap. is it beneficial for uber to come in the middle of that? >> thank you for now, we appreciate it. coming up on "power lunch." this year, it is the j.p. morgan equity income fund which focuses on evaluating sectors. we will speak to the winner, next.

>> the way it came about was a combination of different aspects of my life. a guy like me became her uncle's unhappy. i'm sensing an underlying issue.

it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit... unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...” so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experience this whole session. okay, that's uncalled for. welcome back to "power lunch." announced its 2024 outstanding portfolio manager award winner and this year's victor is j.p. morgan's clear heart.

claire has been the lead p.m. on the j.p. morgan equity income fund and 2004. it's up nearly 10% over the past year and has continuously outperformed the large value category and the russell 1000 value index overall. we now have claire joining us for an exclusive interview. claire, thank you very much and congratulations. first of all, not just on the performance but on the tenure at the fund as well, it's not often you see some kind of. from the big picture perspective, what's been the key to your success over that runner decades? >> thank you for having me. i think what is important is we keep it simple. quality companies at a reasonable evaluation. at time of inception for going to the fund. and we do not deviate from that. i think what is important is we

have a great team that works with me. dedicated analysts and everyone believes in the strategy and everyone is confident and their talented investors. we go to market everyday looking for names that fit that category and we try to make as much money as possible. we do not change that. obviously, in the past, time frames growth might be in favor but we really stick to doing what we tell people were going to do and i think that makes a difference over time. >> we always put these caveats on there just like the people in the industry do that past performance does not guarantee future results. if we know that you have had a lot of success in the past but might you be able to shed some light on what you and your team are doing in the future? and for listeners who are listening on serious, what you didn't see on the screen is that claire is actually going to step down from this role later on this year so she's going to cap his career off.

claire, as you hand the reins over, where is the next big value dividend rate for the next moment is 24 months? >> what is really important is the team that's in place, everyone believes in this approach. you are not going to see a flip or a change or a different approach. in terms of what we are seeing go forward. obviously, people are talking about inflation. so much cost increases. we can focus on areas of the market where we see some value. companies creating value for consumers. that would be a mcdonald's, walmart. so that continues or brands. that is like a philip morris. i would say within insurance, for example, we like the brokers. we've got a capital like

business model. we definitely like the brokers here. i would say beyond that, i would say managed care. if you look some of socks the way it's been treacherous year today, the dislocation of medicare advantage is turns of pricing nothing has been difficult. what it means is there is opportunity there. that is an area that we are looking at as well. last but not least, i would say the financials are broadly speaking. there are so many different ways that you can slice and dice that but i would say the banks, for example, obviously year-over-year had great performance because of a near- death experience that some banks had back in march of last year. you are capitalized. you see a bottling process and place. expenses really well controlled. that could even be resides revised in the banks favor. a lot of different categories

and subcategories that we are interested in. >> i am curious. there is a steady kind of approach. in the income, reinvesting the dividends is how you get the most bang for your buck. i ask because slightly unfair way, even as annually, do people still go that is great but i would still rather own a video, for example. i do not want to be in there with a growth stock. i am curious. i would say whenever i think about, we have this straightforward approach. and we stick to that. there's lots of different ways to make money in the market. if someone looks at the approach and says this chip company or growth approach. there's a lot of people in the market that are going to do that for you. what is important to us is when

we talked to our management teams and we spent a lot of time talking to them, they do what they say they are going to do because that is the barometer by which were going to judge them and that is the barometer by which we can trust the capital. we hold ourselves to the same standard. if people are saying i want growth instead, we are pretty clear about parts of the market we can shop where we think were going to make you the most money possible. following our mandate. people might decide they're going to split their investment. by some of this, by some of that. i want investors to be happy. >> i know we have to go but do most of your investors actually use that income or delivery? >> i do know. you can pick the box to reinvest. a large percent is reinvested. >> interesting. people love dividends but then reinvest them anyway. then what's the point? to just on the stock. >> but dividends, i am a big fan of dividends. for me, it's about the pay me

now, pay me later. it's not even about the money that you get up front as the dividend. some people take that money. to your point, i assume that money should go grocery shopping. you need the money. we are careful investors in that way. it is about that. capital disciplines on company. if you are going to pay a dividend, we are trusting them to reinvest the money that we leave behind. i could see why people could continue to reinvest the dividend. >> i love that. for a lot of investors, you reinvest early for some and take the payouts later in life. >> that too. >> claire, congratulations on quite a career. glad to see this be the capstone in the queue for joining us today. >> kind of you to have me, thank you very much. >> jpmorgan. as e had to break, let's get a power check. on the positive side, they are higher after a strong earning feed. a range of 6%. on the negative side, there is electronic arts. they are lower after disappointing results. a couple of earning splits today we will have more on that

name. that is your power check. il right back.

welcome back to "power

lunch." let's get a check on the bond yields. we go over to chicago and rick santelli. over to you. >> thank you. we had the second leg of our funding in terms of the long coupon maturities. today's tenure was a mediocre option. if you look at the chart, starting earlier this morning, you could see that we have moved a bit higher in yield since the option at 1:00 eastern. only by a basis point or so but it is important because as you look at a one-month chart, yesterday's was the lowest close going back a month to the ninth of april. we are coming up a bit. it has technical significance because it is a around a psychological level. last night, 3:30 a.m., the sweetest central bank lowered rates from 4% to 3 3/4. this is important. that is the first time they have lowered rates in eight years and they have now had four consecutive quarters of

contraction so technically, they are definitely in a recession. back in the old days, we call a depression. their inflation rate, their most recent march cpi was 4.1% year-over-year. even though that is a two year low, you can do the math. they are definitely propensity to lower rates by banks. the one that is different from theirs and ours is there projection or remote with regard to the recession. kelly, back to you. >> thank you very much, rick santelli. out solar stocks are falling after weak results from a company which could be a leading indicator of demand. >> we are talking about technologies down 15%. they had a really disappointing corner. they also cut their outlook for the full year. they had one's for solar well- known so the expectation setting and this corner were already very low. the fact that they missed really does not bode well.

they chalked it up to project delays and also, some cancellations. they said that there is a shortage of key parts like transformers and switch gears. they did say that holding up better but it does beg the question of can these projects be built on the timelines that have been given? there's so much momentum but then there's the nitty-gritty problems and the realities of shortage, do you think the shortage would be a good thing in the long run? if you don't have that visibility, but everything gets delayed behind it. if your current project is delayed, your next second will also be delayed. that is why we are seeing stocks like also sell out. we hear from tomorrow and the next truck for next week. we are listening for commentary on that. >> stevens, thank you very much for the update. let's get over to the goons for a cnbc update. >> good afternoon. the u.s. is reviewing other weapons packages for israel after pausing a large segment

of bombs. the statement department said this afternoon that the white house remains concerned over israel's possible where tens of thousands of people have fled seeking shelter. comes as the state department get ready to deliver a report to congress on whether israel has used u.s. weapons in line with international humanitarian law. spanish soccer is headed to trial over his unwelcome kiss of a national team player at the women's world cup last year. the prosecutors have charged with sexual assault and coercion and are seeking a 2 1/2 year prison sentence against him. he has insisted that the kiss was consensual. >> general motors is ending production of the gas powered chevy malibu. the automaker announced the news today and said it would focus on building chevy both electric vehicles at its

assembly plant. gm has sold more than 10 million malibu's world wide since the model be viewed 60 years ago back in 1964. had the larger version of that, the impala. that one has gone out of favor and come back. we will see whether they bring this back in an electric version. >> the impala is a classic in many people's minds but the malibu is a staple of fleet rental cars across the country. we will see what happens. thank you very much for that. coming up on the show, spruce points capital management shorting boot barn, criticizing the executive team saying boots are a fading trend but remember as we had to break, picked that name in this year's stock draft and he said people will always need boots. >> i am very excited to choose boot barn for my pick.

>> why? do you like their boots? >> i will tell you why. with climate change a major factor, inclement weather is on the rise. we are going to need boots. companies come and go, trends come and go. the and hard work are heo re t stay. >> simply thinning, we need boots. >> the bond report is brought to you by pimco.

welcome back to "power lunch." we got a news story involving facebook and washington, d.c. >> news conference this afternoon, new mexico attorney general raul torrez that authorities have arrested three alleged child sexual offenders in an ongoing investigation of predator related activity on meta-platforms including facebook and instagram. had some tough words for medicine ceo. >> mark zuckerberg is responsible for this. the med executives are responsible for this. while we can do what we are able to as law enforcement

professionals to try and safeguard the community, ultimately, it is their response ability to make sure that the products they are putting out into the world are safe. for everyone use. >> the attorney general said the alleged sexual predators approached avatars set up online by authorities that initiated sexual conversations. two of the three men were arrested at a hotel six where they thought we were meeting up with children. new mexico sued mehta in december alleging that the company proactively served and directed the underage users. a stream of egregious sexually! the images even when the child has expressed no interest in this content and enabled dozens of adults find in contact children for sexual purposes. >> a spokesperson from meta has not responded to our request for comment. >> if i'm not mistaken, haven't they taken against meta in general? >> this is an ongoing lawsuit. we will see how they are able

to resolve this issue. what they are saying was egregious about this conduct. the centerpiece avatars online. people are finding and contacting the avatars and that is what they say is so alarming. even by sharing these existence of the avatars online, they are able to attract with this kind of. >> thank you very much. shares a boot barn are up about 2% despite initially dropping pre-market as spruce point capital released its short report on the stock. they actually see 40-50% downside risk in the company and the report they point to concerns about management credibility. viability of the company's strategy, accuracy of reporting and its share of sustainability. we have reached out to boot barn for a response. if we will get we will bring it to you as soon as we can. joining us in the meantime is the man behind the cause or get capital founder and chief investment officer.

welcome. also, going after companies and calling up people in particular is always a difficult business. in this case, you think there are legitimate concerns that should be. >> that's right. we had problems with the business strategy and model. this is especially retail that focuses and is making a national movement. in that process, we think that this store economics are declining. we think that they have alienated their core customer which is traditionally a male farmworker, cowboy. now they are taking on a much more fashion risk moving in the geographies where there is less demand for passion. in new jersey in cherry hill, for example. there is one near ross stores. that is not their core customer. as a result, inventory is piling up. sales are declining, economics arctic mining and the price is up 40%. on some believe that a turnaround that's going to happen but we don't think so. >> a lot of this may have to do with some of these overarching

trends that we are seeing in pop culture right now. that is more of a country- western theme approach of things to how they could be bringing more people into that particular fold what exactly does that mean for a company like boot barn and management saying that this is a strategy. we are going to take pop culture and is moved towards a yellowstone feel and go right after these folks who are on the fringe. >> i think western, to a degree, ebbs and flows. we think that may have helped them a little bit last year going forward. and then you have beyonci■and the texas hold them. they do not have a firm partnership with beyonce. if you look at the website, it does not match with what beyonci■is wearing. we think that the market is a little bit ahead of itself in terms of the beyonci issue. that is good to be winding

down. that is going to be an issue. ultimately, the problem for boot barn is you can get it anywhere. there is like tractor supply. >> and we don't think they have any natural advantage, in fact, we think the marketing is pretty behind par. ultimately, this is a company that sells boots, accessories, for letting very little edge. >> the stock is up 35% this year. it is at 104. what you think the price should be and the people who love it must think this is going to be the next tj maxx or whatever and you think it could be more like the next what? >> it could be a zero. retail, especially ones that overstepped their boundaries have proven to be problematic. particularly, worn, their stores are large-format. go in there. look at the assortment. the shelves are soft.

we think the inventory is piling up. they just announced a 60% discounting strategy on sunday. they are having problems moving the inventory. if that inventory cannot move, there you have to market down which will hurt margins and the bottom line. >> hears the case. we will hear back from barn. thank you very much for joining us. >> coming up on the show, we will get a live report from service now's knowledge 2024 conference in las vegas with words of wisdom from some of the biggest names in technology. that is coming up. that is coming up. we are back in two as an independent financial advisor, my promise to you is simple. as a fiduciary, i promise to p . i promise that our relationship will go well beyond just investment decisions. it's the intersection of your money and your life

where we can make the biggest difference. [announcer] charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals. visit findyourindependentadvisor.com

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inevitable. ♪♪ ♪♪ welcome back to "power lunch." shares on the where today buyer for the week overall. stanley dragon miller telling cnbc he took he cut his stake. the ceo sitting down with john from the knowledge 2024 event in las vegas. john, believe it or not, joins us live to share what they

discussed. john, there is probably no more visible ceo when it comes to artificial intelligence than jensen these days. what was the conversation like? >> reporter: very visible. i sat down with jensen at service now's 2024 event . this is with him and a service now ceo bill mcdermott. the companies demoed a technology that combines software for ai avatars. surveys assist. i asked jensen why the realistic avatar for customer service is important. >> the technology creating a digital human is not easy. the technology of having an ai that understands intention all of the things that we use a service now for.

that technology, insanely hard, of course. ultimately at that intersection where you interact with the computer is going to be come more human as well. there are a lot of different applications. healthcare, customer service. all kinds of things. >> much more from bill mcdermott and jensen coming up in overtime. having to do with the growth potential from here and the industries that are taking advantage. >> i guess the larger question about the stock, john, is not so much about whether they can mimic a human perfectly with ai or whether there will continue to be this demand for their chips or is composition eating away at that? >> part of what we talked about is how right after the feds shut down the arm acquisition, open ai came in and alerted everyone to the potential of ai. now there are these fresh questions about are we getting ahead of ourselves? companies in the ecosystem seeking to answer that on

overtime investors and get a better idea of whether those answers are good enough. >> to stop top of the show, first top of the show. >> looking forward to it. john, thank you for joining us with a preview. gianforte. coming up, shop till you drop. chairs are plunging. a downbeat guidance for the second quarter setting nearly $20 million of value just in the session today. we will get the trade in three oclunch, next. it's a pillow with a speaker in it! that's right craig. a team that's highly competent. i'm just here for the internets. at&t it's super-fast. reliable. you locked us out?! arrggghh! ahhhh! solution-oriented. [jenna screams] and most importantly... is the internet out? don't worry, we have at&t internet back-up. the next level network. i sold a pillow! at corient, wealth management begins and ends with you.

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welcome back. it is time for today's three stock lunch and it's all about earnings. here with our trades is chief investment strategist with e.r. shares. welcome to you. start with shop five. the shares are down nearly 20% on week guidance for a company that usually. a poster child of growth . what is the trade? >> it is a hold. be on the stock. this was a great company, great growth story during covid. 85%. the company is coming down to earth now so the report with slower growth going forward. the margins are expected to drop by point 5% but let's face

it, this is a company that has revenue growth which has. if you have taken the 20% hit, i think you should hold onto it. >> there is the trade on shop five. that's talk about beverage alcohol because it is 5:00 somewhere, kelly. >> shares are higher after topping first quarter earnings estimates. they are up about 4%. bill, this is the maker of bud light. that is the question. they are seeing a decline in demand from the boycott started in april of last year. there is still a carry over there. it's not just bud light, there is positively elsewhere in the portfolio but what is the trade overall? >> i agree with you. it's not everything bad about it. let's face it. this is bud light. their beer self came down 1%. mostly attributed to the controversial commercial which had that significant

conservative backlash. the company is putting that in the rearview mirror. the focus is the olympics where michelob ultra will be the exclusive sponsor of team usa. that is expected to boost sales. it's creating a lot of excitement. i would say given the fact that the margins are double their peers for the company as great potential going forward. i would continue to call. it is a solid old. >> finally, electronic arts forecast full-year bookings below estimates as gamers cut spending. shares are down more than 2%. what would you do with a name like this? >> i would sell. that money for many years, the company has come down 10% in six years. you have actually in the last six years. the future does not look right either. the company is reporting that they will have fewer gains released in a future that is

with their relatively high evaluation which is two times on the basis and revenue growth. when you answer a market where gdp growth has come down and as significantly higher relative and revenue growth that is half you are peers. it does not look that good. >> what should they be doing the past six years? this has been a long time that this has been in the works. tanks, we appreciate it. thank you for your time. >> remember, you can always hear power lunch. yes, audio on our podcast. be sure to risk listen to power lunch on your favorite streaming service. we will be right back.

appreciate it so much. thank you. doors are new beginnings. -surprise! -surprise! your dedicated fidelity advisor can help you open those doors. for you, mama. through personalized money management that can evolve with new chapters. and they can proactively view your entire portfolio.

with an eye on taxes and the impact of risk. so you can enjoy moments together. because doors were meant to be opened. less than three minutes left of the show and several more stories that you need to know about. let's talk about collapsed

crypto exchange. it says most customers will eventually get all their money back. according to a new court filing, creditors around $11.2 billion in claims to have 14 1/2-16 million in total to distribute. the funds have been since it filed for november of 2022 after a former ceo came to light. this is welcomed news if you are part of the. >> it's impressive. one of the. there is not high-profile victims. not a lot of people are going to be made whole. nevertheless, at least there able to do something. kudos to those who are able to reclaim those but has obviously helped. >> we talked about the brisk sales of at tosca but it's not just costco anymore. it's not just the u.s. a convenience store chain in south korea is selling tiny fingernail sized gold bars for the equivalent of $165. you can get about two grams of

gold fingernail size. >> or the attention that silver is getting out? >> do you know how many years we had to hear about silver? every cycle with russia's metals. here we are. we are at that point of the cycle. the big apple is officially home to the highest contrition of millionaires in the world. officially, there are 350,000 in new york city today. one in every 24 resident has at least a seven-figure network area >> walk around new york city. i can get at least 100 people that walk across the street and three of them -- >> speaking of new york. >> the strong playoff runs are expected to be a boom for madison square garden. entertainment owns the venue and msg ports. owns the teams. analysts are positive on both. earnings numbers from ms ge

thanks to strong, regular- season attendance late yesterday. it's estimates as well thanks to a robust start for the playoffs. they expect 14 playoff games between the two teams. way to go new york sports. >> the orioles and the success rubenstein is had with them. we need to check in with charlie. >> thank you for watching power lunch. looking to closing. scott walker. a full market on how to play it right now. we are going to ask our experts over the final stretch including one that says socks are going much higher ameer. in the meantime, your scorecard with 60 minutes ago in regulation. it has been a relatively muted day, although, we have had some bind in the dow which, by the way, is at 39,000. it was just there on the nose. we will watch that over the final stretch. plenty of individu