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tv   Power Lunch  CNBC  June 6, 2014 1:00pm-2:01pm EDT

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new all-time high, and on the back of that jobs report today, certainly see if that dow can creep closer to 17,000, watching the bond market as well. that does it for us. "power lunch" begins right now. halftime is over. "power lunch" and the second half of the trading day start right now. >> scott and the gang, i urge you to inject liquidity. it's sunny out there. i don't want you to cramp up. jobs reports all those millions of jobs have in and out been recovered. also the first time in 14 years we've had four straight monthly gains in jobs added of our 200,000, but there are still underlying concerns. is the u.s. economy truly back? the other big question. will this latest round of jobs data fuel the next leg? we are in a bull market, folks, make no mistake. the dow and s&p hitting all-time record high dalles. the dow pushing toward 17,000, the s&p nearing 2,000.
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the stock's a buy for a long term. and it is the single biggest threat to the global economy. cnbc contributor ron asana wrote a marv his piece about it on it's something we've not had to deal with in this country in my lifetime. he will join us to explain. first, to josh lipton out in silicon valley with breaking news. tyler? >> how much is uber- worth? how about $17 billion. the transportation service just out with news that it has raised 1$1.2 billion in a new funding round valuing the start-up at $1 billion. the company says the total amount raised will actually grow to 1.4 billion once it closes deals with some other investors. uber- does face some challenges, no down. raising money does not appear to be one of the them. taxi companies have complained about the encroachment of
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uber- in their space. travis kalanick will be joins cnbc's "closing bell" for an exclusive interview at 4:30 p.m. eastern. >> a $17 billion car service company. bertha coombs now for a market flash. hi, bertha. >> hi, tyler, watching ebay at session lows, after robert baird said the company's growth had slowed in the last, and warned it might cause -- it reduced the price targets over at rob baird, two bucks to $63 a share. ebay currently trading down more than 1.5%. >> two of the latest jobs report, the headline, the u.s. economy has now recovered all of the 8.7 million jobs during the great recession, 217,000 new positions created in the past month. the unemployment rate held steady, so how is it plays out in the market? if you've been watching all morning, you know the dow and
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s&p now sit at record highs. investors now on dow's 17,000 watch, as we're about 92 points away from that. the s&p on s&p 2000 watch. let's take a look, the industrials up about 72 points, 16,909. the s&p 1908, again about 0.4. nasdaq at 4316, up 20. russell up 11. it's the biggest gainer in percentage terms on the day, and the ten-year note yield sits at 2.58%. wall street's so-called fear index, the vix now at a one-year low. so let's get to trading action, such as there is much trading action, bob pisani, there hasn't been much in recent days. >> there hasn't been a lot of volume. that was the subject of the recent conference on exchanges that we had with sandra o'neil just a few days ago. it's not a roaring recovery,
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tyler, i want to put up the s&p futures. this morning when we got the jobs report, basically in line, there you see 830, that's when the market moved to the up side. it does respond on the up side to the jobs report. maybe 3%, that seems to be good enough for the market. even though we have anxiety, stock's up, bonds up right now. tyler is right s volatility has virtually collapsed at this point. we're at 18-month lows essentially. look at this longer term. this lower period has corresponded with lower rates, higher stock prices and lower volumes. look at this,, going back to 2005. we're essentially where we were in 2007. it's a little steeper if you go out on vick futures, so it's down around 11 right here where we are, but you see 15 and 15.75, a steeper yield curve, but still not very high, considering the potential for
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volatility in the summer. in terms of sectors today, all the classic cyclical sectors are on the up side. all on the up side. important thing here, the subindices, look at the airlines, home builders, some of the semiconductor stocks. all the leadership groups earlier in the year, including the een, which had a big, big drop and essentially now recovering much of the declines, really was earlier in the year, but that recovery is almost complete. tyler, back to you. >> thank you very much. let's bring in cnbc market analyst kenny polcari. kenny -- and bob will stay with us. kenny, you know, this has been a week of heavy data. there have been several catalysts, today's jobs report, the ecb, what it's going to do and what it suggests it may yet do over in that part of the world. what is the next catalyst that the market will be looking for over the next several week
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weeks? >> license, it's in and out absolutely going to be paying attention to the macrodata that's coming out. so the market is going to be very keen on now that we seem to be having a lot of momentum, europe and drawingi hdraghi, th the comments. the market will be watches closely, to see what janet yellen says next and what the fed says next. i think they'll stay right on schedule. the market is not concerned that any of this good data will cause it to speed it up at all. i think it's status quo. i think we might be in for actually a smooth summer, it doesn't feel like there is anything out there at the moment that will derail there, right? >> the bond market seems to be telling us we can expect small, incremental gains in the economy through the summer, but nothing spectacular at all. i think that's the reason we're seeing -- >> and why the vix has come down to this level, as well as some
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people are concerned that maybe it signals too much glassancy and people will get caught off-guard. i don't see an event coming, but it did feel much more stable, which actually overall for the long-term investor -- >> i think, kenny, that's a really important point, because stocks typically like it when there's economic growth, but not too much economic growth, when there's a little inflation, but not too much inflation, and when interest rates are relatively stable, and they have been. >> right. >> people who don't like it are financial journalists, because we want a little more action, but i agree completely with both of you. for the average investor, stocks sitting at new highs, hallelujah. >> stocks sitting at new highs and feeling as stable as it does is all positive. >> three guys who agree and actually like each other. bob, you're going to stay with us, our special power player, who says the u.s. equity market offering a huge buying opportunity. he's dan chung, ceo and cio and
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portfolio mention at fred alger, with $21 billion in assets. mr. chung, welcome. you see what we see, and that is a pretty nice environment for stock investing? >> i do. the steady economy, slow but steady a a great environment, as bob mckenna just said -- there's one area of volatility, which is the bond market. the government bond market was very volatile, i this i it's been a gift handed to bond investors this year and they recovered some of the dramatic losses they had last year between 8% and 20%. i think it's time to get out of bonds and back into equities. >> i want to get to a couple of your picks, what is the average holding period for a stock in your typical portfolio? >> would you have run a variety of strategies, so it's different to say the average is that meaningful, but it varies
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anywhere from i would say the long end three years and the shorter end nine months. >> all right. so if i want a stock. if i want to look at an area that you see value in today for a nine-month for three-year time period, give me a couple examples of where you see value right now. >> i'm going to give you two of our best long-term value holdings. >> one is gilyard, the other is google. these are both examples of stocks that recently, even as the market has been making new highs, as growth stocks, they have sold off significantly and i think they're offering excellent growth and value for investors right now. >> dan, what should we read into the low bond yields right now. is it telling us that the economic recovery will not be as great as some people think? is it an indication that there's excessive demand for jobs right now by pension fund managers? how do you read it? are you concerned about it?
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>> i think it's important to remember a couple things. there's been a lot of inflowing into bonds the last ten years. and it really is still a trickle. that money has to go somewhere. the ecb action today is also making this a global phenomenon, where investors have to look to put their money somewhere else. i think equities, u.s. equities in particular, but also global and emerging market ones are primed to take off. >> some of the emerging markets have had nice moves today. i notice you're favorably inclined toward google. why do you like? >> google is an internet leader. the stock is trading 15 times next year's earnings even as the top line growth -- this is a highly innovative company. the driverless automation scares people sometimes, but if you look at how that plays it's a great example of innovation and
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vibrant company. >> dan, tyler and i have been highlighting the vix, basically collapsed, essentially at year and a half lows, but we're down at the low levels. a lot of the doomsdayers are say aha, complacency, therefore we could have problems. i don't see the same situation as we had in 2007, but what's your read on the low volatility and the low volume we're seeing? >> well, i think it's partially a reaction to the very long and slow recovery that we've had, and investors are very skeptical and very cautious about allocating money to equities. but i think when that reverses it's all to the up side. >> dan, thank you very much. dan chung, ceo and cio as fred alger asset management, and bob pisani, i'm sure you'll be rejoining us later this hour.
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thanks again. >> up about 6% over the past month. the financial jircht in talks now for a $12 billion settlement in the role over the housing crash that sort of led in many quarters to the 2008 financial crisis. a lot of money, but where will it all go? eamon javers is here to tell us. >> hi, tyler. lots of media reports out there, lots of speculation about the $12 billion settlement figure. what i can tell you is i'm not getting any indication that any settlement is imminent in the near term, but that said, there are discussions ongoing, bank of america has disclosed that going back to the march time frame. what we are looking at here is a potential $12 billion settlement, but take that with a bit of a grain of salt. some of that settlement could go to the customers who were affected here in terms of owning the mortgages that went south. others would go as a fine. the breakdown of that still not
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determined at this point. the settlement dade is not determined. it would be an enormous filling. obviously there's a lot of details. i've never been in a room where you're sitting across the conference table negotiating over billions of dollars, but that's what's going on behind the scenes. we'll get some send of what exactly the settlement is and who gets all that point, tyler. it would be no smoke-filled room in new york city. it's a metaphor. >> gotcha. eamon, thanks. cnbc contributor ron insana wrote a very startling piece about it. he will join us to explain, and our special "power lunch" series, executives after hours. "mad money's" jim cramer takes us inside his mexican restaurant in brooklyn. didn't know he owned a restaurant, did you? and they make good drinks. we'll talk with him to see how he works and plays, in a little bit. e
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financial noise financial noise financial noise financial noise
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steve upgrading the health care company from a buy to a hold. also a history of proven growth they're setting a 155 $price target. stock already, tyler, is up 22% year to date. back to you.
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>> bertha, thank you very much. today marks the 70th anniversary of d-day. more than 150,000 allied soldiers stormed the beaches in normandy, opening the western front again hitler's third re h reich. president obama said america's commitment to liberty, equality and freedom is, quote, written in the blood on these beaches. check out this photo. this from our director dan swissen, his grandfather is among those soldiers who were there in the 1st infantry, among the first wave on the beach at omaha in 1944. if you've never been to the american cemetery in france, i highly recommend it. it is one of the most emotional, moving places i will ever, ever visit. in the midst of the debate over interest rates here in the united states and in europe, the underlying threat that has just about everyone on the lookout is
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the "d" word -- deflation. it's the exact opposite of inflation, a decline in prices caused by less money or credit in the system. the cause can be less personal spending, it leads to higher unemployment, and can lead in fact to depression. ron insana just wrote about it for cnbc, saying it's the single biggest threat to the global economy and adding while it is less of a threat here in the united states, it's got to be watched in europe and becoming increasingly important in other countries. ron is here with steve liesman, who is somewhere? he'll be here in a minute. ron, deflation is something that this country hasn't had to deal with in my lifetime. >> not since the 1930s. in fact the world hasn't seen it since the 1930s. japan had some version of it, but not in the '30s sense, the actions by the europe central
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bank, as dramatic as they were, going negative on deposit rates, is an extraordinarily large move, and there's more to come. you know, people forget in the 1970s, you know, we went through a ten-year period in which we struggled with inflation. these things can last a long time. now, the economy is improving, the data suggests that remember gas lines from the 1970s earp there. porp errors that exacerbated our problems. if you recall, gerald ford after richard nixon imposed wage and price controls, we went to whip inflation. we all had to wear those. this process went from 1971 when we let the dollar float freely until 1981, when interest rates, unemployment and inflation peaked. it was a ten-year process. this may not be fully a ten-year process, but my argument is that rates and global rates are going to stay low because this is not a battle. this is a war. >> let me bring steve into the
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conversation and let's talk -- >> for the record i was told to wait over there. >> you weren't just hanging out, you weren't just chillin'? inflation means the purchases power is corodded. deflation means the asset values erode, correct? things lose value. >> this is why bernanke was all so uptight about deflation. the worst part is not that prices decline, it's that salaries and wages go down with it. that's the worst. so what you have is a real barrier psychologically and culturally to prices falling. >> and the weapons to fight it are less tried and true, let's say. >> until ben bernanke started the process of quantitative easing, until the europe yap central bank tried -- yesterday everything was theoretical. the dallas fed, the cleveland fed, they're all writing about this topic, but how you deal
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with inflation that is too low. it's been studied in europe. jean-claude trichet, mr. draghi now, they're all talking about it. >> is this draghi's biggest worry? >> it's his only worry officially, right? he's got this 2% mark. one of the interesting thing that ron is saying. his analogy is fascinating comparing fighting inflation and fighting deflation. here's the problem. back then, there was an infinite amount that volume kerr could raise interest rates to. he does not have -- today's fed does not have the same luxury of either infinite amounts of quantitative easing. this is a trickier things. he concept it could go on for a long time is not necessarily perfectly in line with the fed, but there are folks at the fed who are starting to think, you know what? this turnaround, that is not the way it's going to happen.
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it's going to be a gradual process. it el highest levels of the fed. >> if you extrapolate today's numbers, and average them out, that means you don't good to 5.5 unemployment until september 2015, at which time the fed will consider raising interest rates, and some people believe the terminal rate, where the fed stops, is 2%, not 4% which is the normal. >> that's why that paragraph -- >> for fed funds. >> that's why that paragraph in the statement is so important. even when we get the full employment and target inflation, nominal interest rates may better lower than out the norm. >> and we went through a ten-year period on inflation, and it could be a ten-year period we fight deflation. >> can i wish your daughter good luck when she tries out for "the voice". >> yes, thank you. >> gets all her musical talent from her father. >> my mother. >> he's a drummer. >> my wife is the singer.
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>> we should have a gig together. let's do it on "power lunch." >> all right. you can see ron insana's article on and giddyap, triple crown, triple tease. morgan in el month, new york, with the cool lid. >> reporter: that's right, do you want to play the ponies? i will tell you everything you need to know ahead of tomorrow's belmont stakes. josh, over to you. >> the competition, morgan for talent in silicon valley is red-hot. what are the perks that startups are offering to attract and retain employees? i'm going to have that story for you. julia, what are you watching? >> josh, netflix "orange is the new black" is out today. if you're binge watching and you get the buffering message, who's to blame? not so simple. after the break.
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reflecting reduction growth. it raised the price target on the stock to $55 from $49, but the downgrade for peabody energy to neutral from buy trimming its price target five bucks to $16, seeing better value in, what else?
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c consol energy. anyway, they are down about a half a percent whon cwhile consl is up. >> "orange is the new black" is on netflix tonight. they downloaded the second season and your video stream starts buffering, who do you blame? julia boorstin has the latest in the netflix/verizon battle. >> reporter: well, tyler the way this all works is complicated. internet is like a spider web with thousands of connections. netflix and pop-up messages that is blamed buffering on what it calls verizon's, quote, crowded network. verizon has made a trade-off lower cost with lower quality. there are lots of different places there could be a breakdown. so where could the breakdowns
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happen net flex sends data to a third-pared, and then from there to verizon's hubbs. then verizon sends data to the homes where there could be issues with a wifi connection, a device, even the netflix player. now, verizon, along with comcast, have an interconnect deal. netflix paying both of them for a direct connection to improve streaming quality. other providers there's actually an extra step in there. data also goes through an outside company called a transit provider. now, according to netflix, comcast streaming speeds have improved dramatically by more than 50% since striking their deal back in february, verizon's speeds, though, have only increased slightly since they made their deal at the end of april. but it can take a while to implement those changes and speed things up, but, tyler, tonight this weekend, performance of netflix on those networks will really be in the
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spotlight. back over to you. >> julia, thank you very much. what a big week for the nasdaq. it's about 1.7%. seema mody hag following the movers for most of the week. hi, seema. >> tyler, definitely a big week, on track for the fourth consecutive week of gains. its large-cap techs plays a pivotal role. or and intel trading, apple getting close to breaking $650 a share, though now just went into negative territory. you'll see apple trade at the newly adjusted stock price on monday, after the 7 for 1 stock supplies. ver i phone, a big mover in today's trade, reporting better than expected earnings. another source of strength here, the nasdaq, chinese internet stocks. baidu, and, often referred to as the amazon of
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china, shares moving to the up side. back over to you. >> seema, thank you very much. let's look at where gold prices are going to finish the day and the week. there you see down just the ever so slightest amount at $1252 an hour. silver lower by about half a person, copper down at $3.05, down about 1.1%. palladium the lone in the green right now at $844.85. platinum also lower. there's your metals check. let's go to rick santelli. hi, rick. >> good morning, tyler, we're digesting the number, the fact we're unchanged in tens, about you lower than last time. remember, the recession officially ended in june of '09, and it's taken all this time to get the jobs back we lost in the recession. it takes so much longer, and that's one of the issues that the treasury market is telling us, look at yields intraday
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unchanged, we are down about 9 1/2, 10 basis points on the week. if we look at the most important chart in my pin it's the bunds verse tens. you see on the intraday, it's widened out to 123. you have to go back to 1999, almost 15, 1-5 years ago, to see a wider relationship with our ten and the european benchmark. tyler, back to you. jobs out west in the war for top talent. some companies are getting very creative, and josh limit ton is here with a look at some of the perks being offered to lure workers. josh? >> silicon valley, of course, legendary for the eric perks companies gives to keep their employees happy and productive. google provides free meals, dry cleaning, even fresh fish delivered to the campus for workers to take home. a competition from employees in the valley is so fierce that even startups have to offer pretty juicy perks. at nerd wallet, a personal
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finance start-up, a book camp trainer comes to the office and gives their 80 employees a free hour-lounge workout. executives say they want to create an atmosphere where employees want to come to work. startups know that mental health is as important as physical head. connects users with local activities and adventures. its employees take party roomtop yoga sessions. >> running the largest company, doing activity bookings is an exciting task, but also a big task, so rooftop yoga is a way for our team to take a break, recharge, be healthy, and be able to continue to grow the company together. >> startups in the bay area also offer perks for getting to and from work. if you work at evernote, the popular note-taking app., and the company pays you $250 per month, which is actually a taxable benefit, in california
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if you own an electric car, then you can drive in the car3508 lane at all hours. that means thor evernote employees, they get to work a lot faster and i'm guessing probably arrive in a much better mood. recruiters say this attracts talent. when ceos know they offer free workouts, food, subsidized transportation it's another way to ensure that the workers stay longer at the office. tyler, back to you. >> josh, thank you very much. california chrome, when the horse goes after the triple crown tomorrow, people across the country will be rooting for him. should they be placing a bet? morgan brenner is breaking down the odds for us. she'll tell us who she picks at the end of this segment. morgan? >> reporter: i am, tyler. but, first, california chrome, if he wins the triple crown, this would be the first time since affirmed in 1978, at bettors believe this horse could do it. the odds are 3:5, that breaks
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down to less than even money. if chrome wins it's $3 paid on every $5. so looking at they odds, you may be better off betting against him. experts say the total amount wagered should exceed $100 million. that's more than what's legally bet each year on the super bowl, and some folks are betting on chrome just to have a piece of history, in case their ticket becomes collectible. to put that in perspective, tickets from the last triple crown win currently fetch up to $150 on ebay. that's an annual yield of almost 13%. now here's my ticket. i went for a straight trifecta, california chrome, wicked strong and tonnist. i probably will go back and play with my odds later, but there's pretty long lines. in the meantime we did see the horses come out for the morning trot earlier today. i'll tell you what, tyler, chrome is looking good. >> will you buy me a $5 on
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command being curves to win? >> reporter: done. >> do it. here we go. there's my bet. morgan brennan, we're going to win 14th run tomorrow, coverage begins at 2:30 eastern on nbc sports network. the call to the post, ladies and gentlemen tomorrow afternoon. there's more to this jobs report than meets the eyes. we'll go beyond the headlines in a rundown jobs edition next. >> thanks for coming to the restaurant. hello. you know jim cramer. he's mr. "mad money." we'll show you a different side of jim. he takes us on a tour of the mexican restaurant, a very popular one, in brooklyn. we'll do it later. here at optionsxpress our clients really seem to
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let's do a quick market check, with the dow at 16,912 the nasdaq composite at multiyear highs, 4314, up about
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a half percent. berth ha has a quick market clark. countrily trading up about almost 1%. american, united, continental, swivel, and jetblue, all of them up better than 1% today, for the most part. tyler? >> our rundown time. today it's all about jobs with us. mark muriel, and former mayor of new orleans. in d.c. is ron christie, ceo of christie strategies, former assistant to george w. bush. the may jobs report other central focus, the economy continuing to add jobs, now recovering all 8.7 million lost during the reserious. you can look at that as good news, but i expect ron christie would say, boy, it took a long time to get the jobs back. mar yor, you first. >> it's good news, but not the
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news we want to hear. the number of jobs created neither to be greater, more significant. obviously when you've had 40 months of consistent job growth, that's better than we were in 2009. the economy has a lock way to go. that's why congress needs to be off sits backside, do something, pass a transportation infrastructure bill. this economy still neither more jobs and better-pays jobs. >> jobs growth, ron, in my book usually follows economic growth, and economic growth, it's picking up apparently in the second quarter, but certainly not very robust at all in the first quarter. what would be the best thing the country could do to spur economic growth which would then translate into jobs growth. >> ty, listening to the mayor, i agree with him almost in everything he said. it's not the government's position to prime the economy, it's the private sector. the government can get off the
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throats of our american businesses and our frankly small business community. let's get that pipeline going. let's find a way to continue to create new markets, continue to cut taxes on our small by community. we have the largest corporate tax in the world. i think there's a lot of things the government can do to get out of the way. >> let's dig deeper on the numbers, the jobless rate and participati participation, basically flat, mayor, and i would guess that a lot of the jobs that have been created maybe aren't high quality jobs. some may be part-time jobs. many of them may be part-time jobs or lower-wage jobs. what is the quality of these jobs? >> well, one of the problems that the job numbers don't point to is the problem of underemployment. it's exactly what you identified. that's you've got many americans working again, they're happy for that, but not working in jobs
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consistent with their qualifications, not working in jobs that pay them the type of wage they need to support their families. on the other side, a lot of high-skilled jobs, if you will, chasing qualified people. so the numbers don't tell the whole story about the state of the american economy, and that's why i think transportation infrastructure, i agree with ron, it's the private sector, but i say it's the private sector plus the government's responsibility. we all have responsibility to build the kind of economy that supports middle-class job growth, and overall economic growth. >> before i go back to ron, he raise the the question if you build the keystone, there is a lot of jobs there. should we still do it? my position is at the end of the day, i think the pipeline will probably be green lighted, but i think the transportation infrastructure bill is not going to create jobs in some states, but create jobs in many states in a sustainable way that will benefit all 50 states in the
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nation. so there are many ways to do a job creation. the idea is we need to understand that more is needed. >> a lot of people, mayor -- i'm going to turn to ron now, would say that the opposite of a job creating move would be what seattle did earlier this week in approving a $15 per hour minimum wage. it will cause jobs to migrate across the border to, you name the town, to bellevue washington, or to redmond. is this good policy, a $15 an hour minutium wage? why do we have a minimum wage in the first place? >> i think it's terrible economic policy. i would go so far to say it's insane. if you look at $15 as a base wage -- it sounds good for people who might be coming right out of school, but if you look at the number of people on minimum wage across the country, you have a majority of them in the 16 to 24-year time frame, so you're not talking about people
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who are providing by and large the wages for their family. it's a disincentive to hire people, frankly disincentive to keep people on the payroll. why do we have a minimum wage? i think that's left best to the states to determine what's best for their communities, not said by the federal government. >> ron certainly -- ron is -- ron speaking a perspective from inside the beltway. that's why the beltway is so out of touch with the average american. out in seattle, the seattle city council, the elected representatives of the city unanimously voted for this living wage, if you will. seattle, a high-ground city, a city with high housing prices, a high cost of living, this is a decision born out of the frustration. frustration that people inside the beltway will not allow a minimum wage vote to come to a vote on the merits in either the house or the senate. the beltway is out of touch, congress is out of touch.
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>> here's the builtway reality. the budget office has said increasing the minimum wage would kill half a million jobs. >> and -- a mpts so they have to understand the economics -- >> it did not factor into the increase in consumer spending that would come from the increase. so their report is a half a report. >> gentlemen, a spirited debate. i'm sure we're going to talk about this. either way you look at it, it's an interesting experiment in seattle to see what the effects will be. we'll know more after it is -- >> we can all agree on california chrome, ty. >> there you go. >> well do. all right. executives after hours, you know him best on "mad money", but did you know he waits tables, too at his restaurant? he's going to make some drinks. margaritas all around. plus mary thompson looking at where the jobs are. mary? >> hey there, tyler, the jobs here? jenkinsville, south carolina, and so too is the world's highest derrick, all here
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because of the $10 billion project being done by south carolina electric and gas. i'll have that story after the break. ♪
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call or come in today for a free one-on-one review. welcome back. for a rally software just after the specialist posted weaker than expected results. take a look. a deplunge, down nearly 29%. one utility in south carolina has been in hiring mode since 2009. our mary thompson joins us live, in jenkinsville, with the latest on the series on where the jobs are, looking at the nuclear option. mare,? >> reporter: an aging workforce means there's 20,000 jobs available in the nuclear industry by 2018, but here in jenkinsville south carolina electric and gas seasonal only working to -- but to hire new
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ones to staff the two nuclear reaction. the reactors are the first to be built in the u.s. in 30 years. while they won't come online for another three or four years, the utility began hiring to staff them, starting with the instructor needed to train the new employees. so as far as, and the chief nuclear officer jeffrey archie says it's recruiting from the military, the industry, and the local schools it's partnered with. >> they want to understand what our needs are. we want to understand what they need us to do to help facilitate providing the product we need. >> so midland's and sce & g graduates 20 students a year qualified to work as mechanics, technicians and nuclear operators, receiving additional training at the simulator. the industry average for
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entry-level jobs somewhere between 52 and 62 a year, with plenty of room to advance. >> upward mobility is a real opportunity in our industry. if you're interested in embracing training, you bring forward the right background academically, whether it be from a two-year college or four-year university, really the sky is the limit. >> reporter: it's an opportunity for change as well. midland said are actually looking, they dropped out of one industry, looking for take or make a new career with the nuclear option. tyler, back to you. >> thank you very much. the waiter this evening will be "mad money's" jim cramer, no really you can find him bussing tables. chatting up customers, you can believe he does that. our series "executives after hours" is next. she keeps you on your toes.
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when he's not grilling ceos on cnbc's "mad money", jim cramer likes to wait tables at his mexican restaurant out in brooklyn, called san miguel.
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where does he get the energy? where does he get the energy? he takes us on a private touri "executives after hours." >> so i mean, we picked the busiest street, the one with the most new restaurants that people are talking about, and we made it look real. we got the windows that come out, the mexican door. come on in. hi, partners. hey, guys. hi, how are you? all good? thanks to you you. thank you very much. i wish i could come here more, but then again it's 9:00, you can't, you know, have and then go to work. they don't work together. maybe when i was 24. so no dinner is north of 14, most of them you can get out of here for $30 for two, unless you want to get snobbered or something. excuse me. what did you order? >> it's fabulous here.
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>> the short rib taco. my absolute favorite. if i'm working, i'll go table to table. everything good? yeah? all right. excellent. excellent. see how people are doing. i can go pour water. i can bus. all right. >> there's a lot of ups and downs on a given night. it's like a stock market session. you know, it starts off strong, there's a weakness, then a surge at the bell. >> liking the drinks okay? initially i was looking at every hour. i thought, that's insane. this is not your portfolio. you say, wow, i'm getting killed tonight. it's not like that. you have to take a step back and not be a stock trader, and be more like an investor, not that i'm the warren buffett of small plates members mexican restaurant. it's a huge amount of fun, and i like it.
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we're going to do "power lunch" from jim's restaurant this summer. that's what we're going to do. "mad money" tonight, 6:00 p.m., you can't get enough of jim cramer. he can't get enough of "mad money." let's see what's coming up meantime on "street signs." let's try, okay, well, buried deep, ty, in the jobs report was one thing that actually really troubles us. we're going to pull it out. also a marine corps veteran about the efforts to improve the v.a., and sleeping in someone else's bed is one thing, but eating with strangers is a whole different thing. we're going to tell you what it's doing to change eating out. all those things and lots more, guys, top of the hour. make sure you join us for the friday edition of "street signs." okay, listen up! i'm re-workin' the menu. mayo? corn dogs? you are so outta here! aah! [ female announcer ] the complete balanced nutrition of great-tasting ensure. 24 vitamins and minerals, antioxidants, and 9 grams of protein. [ bottle ] ensure®. nutrition in charge™. [ bottle ] ensure®.
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mayo? corn dogs? you are so outta here! aah! [ female announcer ] the complete balanced nutrition of great-tasting ensure. 24 vitamins and minerals, antioxidants, and 9 grams of protein. [ bottle ] ensure®. nutrition in charge™. a quick check on quicksilver, rallies today, ubs saying the apparel maker still an attractive takeover targets despite unexpected results. the ceo and cfo each bought 100,000 shares of the company's stock yesterday, the stock currently trading to the up
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side. >> bertha, thank you very much. let's look at where the market assistants right now. the nasdaq up 19, and the s&p also in record territory at 1948.56. sue will be back on monday. thanks for joining us on "power lunch." "street signs" begins right now. and welcome to "street signs", everybody, where for the next hour we are looking at the real state of the u.s. economy. job ground is back, but not where we need it most. fear is at a year low. markets are record highs, and in another two months the s&p will be in the midst of the longest bull run in 85 years. speaking of the s&p, it could also be closer to restoring america's aaa rating. we'll be talking to s&p in just a second. is there any stopping? triple crown plays that could get your portfolio into a trot. and dinner w


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