tv Power Lunch CNBC September 8, 2014 1:00pm-2:01pm EDT
>> olive garden. >> i like whirlpool. >> i think yahoo. yahoo has upside. >> chinet. that does it for us. "power lunch" starts now. lunc "power lunch" to the future. throughout the next ten minutes a journey through time and space. from new ways to pay at the store to the future of one of america's corporate giants, general electric after the sale of its iconic appliance business. also on the list, the future of great britain. will scotland split from the uk. what does it mean for us in the usa. the future of parking, a live demonstration is straight ahead. "power lunch" starts right now. good day everybody.
i'm tyler mathisen. >> we have a lot of market coverage set and ready to go. the dow jones industrial average a little bit to the negative side on the trading session. we are going to start with the future on what is expected to be a very big ten days really for the entire world. >> we begin this hour with apple. its shares moving today as you see they are down just a little bit essentially flat at $98.79. since the seven to one split in june shares are up 7%. tomorrow the company is expected to announce some big moves. john ford here to tell us about them from the new york stock exchange. >> of course, we expect a bigger iphone, perhaps a case of gigantism for the smart phone. we haven't really known why apple hasn't gone with a bigger phone to this point. samsung has. now it is getting ready to take that step. also, the i watch, as well.
so another interesting thing that we are expecting to see from them is payments. and we know that apple has something around 800 million credit cards on file. they have sold more than 200 million ios device units. you have to expect around 150 of those might be capable of working with a payment system assuming they don't work with touch i.d. system. if existing devices are able to take advantage of that and they add that to their nomenclature of technology that they use to connect with the consumer it could be powerful because there is additional dollars that they can skim off of every transaction that happens in a payment system and they have a very high end consumer. >> we are going to bring in jason delray who has a piece on a possible deal between apple and cvs and walgreens over the
very mobile payments you just mentioned. john just said and i think i heard him right that apple has already 800 million credit card numbers on file. if they are able to crack the code, not the recode, here of mobile payments in a big way, they could be a monster, right? >> they could be, indeed. there are big questions remaining, whether previous models of iphones will be allowed or enabled to make payments in stores, that is one big question. and the other is what extra values will they give shoppers to make them want to use their phone in a store for payments. right now swiping a card isn't very hard. >> it absolutely isn't. why do you say they are going to -- you say they will start this or roll it out in a deal with walgreens and cvs. is that how these deals get done? in other words, you go retailer by retailer to get it done? why don't you go through the big
credit card companies or the processing firms or do they not want to do business with apple because it would eat their lunch? >> my understanding is apple is actually working with a variety of different business types, merchants, banks, credit card networks are all in on this. while i reported that cvs and walgreens are two merchants that will accept this i believe apple will talk about a whole network of merchants that they have gotten on board for this. i think this will be pretty splashy. >> thank you very much. john, back to you. apple has always, it seems to me, led the way going back to the initial use of the mouse and what was known as the graphical user interface back in 1984 and moving all the way through the ipad, ipod, iphone. how did they miss the boat on
the larger screen telephone or did they just believe that their product was so superior at its existing size for a variety of reasons that they didn't need to go there? >> i think the real issue with why they made the iphone this size is onehanded operation. steve jobs liked to say this is the right size because you can type and reach your thumb across it without having to strain. he thought that is what people wanted. he thought a smaller ipad wasn't necessary. apple has had to come out with that. apple has sold a lot of phones at the size they have. it is not that they have the wrong size but maybe they didn't have the collection of sizes. they didn't have a cd burner in macs. they came out with itunes it worked. apple knows how to catch up in the past when they have had to. >> really excellent point there. i have heard them say that that one handed ability of the thumb
on an iphone to reach from one corner to the other is a real selling point. thank you very much for your reporting, john, to you, as well. to the future of general electric and america's brand in the kitchen. i can't think of a house in this country that doesn't or hasn't had a general electric appliance of some sort in it at some point. it is selling its appliance building to eelectrolux. mary thompson here with the details and a look at other well-known brand names that could be up for sale. >> as you mentioned ge striking a deal to sell the appliance business, a deal that would generate after tax gain for ge but the sale brings ge closer to what was called a culture of simplification. shedding legacy businesses no
longer core to its industrial focus and won't derail the goal of generating by 2016 following the $17 billion acquisition of the power and grid business in june. the iconic brand isn't going away. under a 40 year licensing agreement eelectrolux will continue to use the ge name. while ge is shedding the business the name is looked to leverage the name a strategy by other buyers. >> the benefit of a smaller brand buying a larger company's brand is that they get instant credibility overnight. >> so what other brand names and businesses could be on the block? proctor & gamble said it plans to sell up to 100 yet to be named brands as it focuses on its bigger brand names. sears holding says it won't comment on rumors and speculation but both regarding
possible sale of ken more appliances. darden restaurants sold red lobster and activists pushed forward to sell olive garden, as well. tweaking the menu hoping sales will recover and investors will back off. market flash. >> let's stick on the theme. you also have a rival to ge. this is whirlpool moving higher and trending today. backing buy rating following ge appliance sale to eelectrolux. in the short term that whirlpool could benefit from the dislocation in the global appliance market. the firm also said in the long term the removal of a large competitor may give whirlpool more leverage. with regards to whirlpool you are talking about a huge portfolio of brands. whirlpool and may tag. may tag repair man. also the genair line of products
and amanna and kitchen aid appliances. all of these are brands that are currently associated with the whirlpool family of appliances. as you look at this collection of brands this company is worth $12 billion currently. when you look at whirlpool vis-a-vis what is happening with the sale of ge appliances units to eelectrolux it is a very interesting story for the brands we are talking about. >> nice percentage gain in whirlpool today. we switch to the future of the uk and europe and their currencies. the british pound plunging to a ten month low today. a new poll showing more people in scotland are in favor of becoming independent. this has major ramifications not just for the uk but entire eurozone. looking at the scary part of the story. first to seema mody in london.
what are the odds that this might happen? >> it is definitely a possibility. the surprising rise in support for scottish independence the conversation here in europe, one of the reasons we saw it under perform peers in the european markets breaking the high with the royal bank of scotland. the latest poll released over the weekend indicated that 51% of citizens are in favor of scotland's independence from the united kingdom with 49% of citizens against it. the pro independence camp taking the lead for the first time in the campaign roughly ten days before the vote. what is driving the sudden shift? analysts say a lack of clear execution from the campaign and a sustained interest from the scottish in gaining more control around decision making when it comes to taxes as well as the economy. with the momentum decisively with the yes campaign this raises questions as well as
market uncertainty around the future of the pound as well as it would easily derail the economic recovery. september 18 is when we get the results. >> thank you very much. >> sarahizen is covering the possibility of it breaking away. it could create an awful lot of disarray in the currency markets. we saw what happened with the pound today. >> the currency is at the center of the question. if it happens, a risk previously not really considered by market participateants then the biggest question is going to be an independent scotland then what? what currency do they use. analysts say most likely they become part of the uk as a currency union. that could be complicated. who is responsible for bailing out both of scotland's banks received bailouts.
it creates uncertainties there and a political question, as well. is the uk going to let scotland join the currency union. there is question whether it could join the euro. first it would have to apply scotland independently to the eu and then join the euro zone. and then the third option is an independent currency which also could take time to work out. the bottom line is that the uncertainty about this question and it is an economic question that could trigger bank runs, confusion, uncertainty is what is driving the pound lower today. that risk is really starting to get considered for the first time. >> and the pound did drop but i am wondering when uk or scottish citizens detect some of the uncertainty in the market do we see people start to horde the pound or the euro depending on which way they think the currency play is going to go?
you could see some say a run on some of the banks. others say that is not a possibility. >> you have to look at some of the biggest british banks with scottish exposure. you can see those trading down. the deposits, what happens to that, all of that is a what if at this point. one way to play this is short british banks go long european, short the british pound at least until we have certainty around this election. again, i want to emphasize for the first time now we have to consider that risk. if you talk to most of the pros out there they say because of the economic consequences which could be so big and scary it is not really the base case. >> thanks so much. appreciate it. one prominent scottish native who does not want to break from the uk is harry potter author j.k. rowelling. a billionaire she recently took to twitter to explain her call for unity.
people before flags answers not slogans, reason not ranting, unity not and went on to say if the economy tanks my family will be okay but that is not true for everyone sold the idea. a scottish utopia where the oil will flow forever. st is very controversial and donated about a million pounds. now to the future of the u.s. economy. we talked about europe and the apple or the i conomy. now here with three economic numbers including two. >> two reports here we are
watching that are relatively new and closely watched but off the beaten path. consumer credit this afternoon. small business report and something we have been paying attention to the job openings and labor turnovers we are looking for indicators here and the labor indicators, the one i will talk about in a second. quarterly service is one on thursday and retail sales hopefully answering a question what happened to the consumer. take a look at the retail sales chart. the last one we have you can see very anemic growth in retail sales 0.03. any less than that and it is negative. you can see the steady drip down. one reason is the decline in service indicators. this has added much more volatility to the gdp reports. this gets revised.
there is the services. that was a big swing factor with what happened to health care and the estimates were obamacare and how it would affect spending, health care spending went down. one more thing. one jobs indicator to rule them all. you know the fed is watching a variety of labor market indicators. now that kansas city has taken 24 different indicators and put them into one piece of data that it will release for the first time live on wednesday at 11:00. there are two pieces to that. the blue line is the level of the index. you can see that has been rising but relatively low. >> that is up to 2014. that goes to july. we can have the july data. where the blue line is below where the bottom was. we are clawing our way back. don't get too focused. look at the green line, the momentum indicator, where we
have been. you can see momentum is as strong as it has been. we are at a low level but getting there fast. >> so this is a wholly new day -- >> 24 things locked into one to kind of give us a gauge of slack which they have taken back to 2000. >> exactly. >> very interesting. >> something we are going to be following. i call it destination data. you got to be there. >> kc and the sunshine fed. guys, from the future of the u.s. economy to the future of driving in america. live for us in detroit. >> reporter: this is a story for tyler because i know having driven with him it is a terrible, terrible person to park a car. a smart phone and a car will eliminate problems when it comes to parking. how so? you will want to watch "power lunch." we will show you and you will love what you see. ve what you
2%. the morgan stanley office is downgrading auto maker to under weight from overweight and cutting the price target to 16 from $17. morgan citing two concerns, north american auto companies reaching a peak in the business cycle and retooling of two ford factories to make the new alum income body truck may cause delays and possibly hurt profitability. >> sue, you know we have become accustomed to automation giving up control in many aspects of daily lives. is parking your car about to be one of the casualties to automation? live in detroit at the intelligent transport systems world congress. let's see if he can hit that sign. >> reporter: i took a shot at you in your parking earlier. >> i heard. >> reporter: look, i had to.
it is the least i can do. i want to show you this cool technology by the french auto supplier valeo. essentially what i'm going to do. imagine you are somewhere and you know there is a spot but you don't want to go through the hassle of parking your vehicle. with a smart phone turn it on and start parking the car. it does it by itself. we have another camera. you take the shot of him in there. there is nobody in the driver's seat. this car is going to a designated spot and will park itself. they set this up here as a demonstration. they told me when they tried this out in other parking lots it does work. as we come closer you can see it guides itself around. there are six censors in the front bumper as well as the rear bump that essentially tells the vehicle where to go and how to position itself. let's say somebody is getting out of a vehicle next to where the parking spot is, it knows to
stop. it is not going to run into somebody or if somebody walked out or behind the vehicle, the car and the censors know to stop in advance. it is really cool technology. the question i have and i put to the folks here at valeo is how soon will we see it in vehicles? they estimate about five years. this conference has convinced me that this technology is developing so quickly that you will see this coming maybe sooner than that. it is just a matter of how quickly the auto makers incorporate the technology into their vehicles. the time that i hit this button i could be inside the restaurant and shopping and i wouldn't have to worry about the vehicle. and i have enough confidence that it will park itself. a minute it has taken for the vehicle to find the spot and park. >> that is really amazing. >> that thing literally drove around the barrier, identified the spot and is now finally backing in. i might be a little impatient
with it if i was another driver waiting to get in or get past. that is really cool. as you have said to me on air about two weeks ago if you think you can do it better than a computer you have something coming to you. you can't do it as well as a computer? >> reporter: let's say i come out of the restaurant and it is time for me to have my car come out and pick me up -- let's go down. here we go. look at that. should be coming out here soon. >> it will find me. i am having more problem working the smart phone. the problem is the operator and not the vehicle itself. it will come around and pick me up. that is essentially how it works. >> we asked will americans buy self-parking cars? we have the running tab going as this car comes back to find you here on this amazing display.
somebody's security system is going off. i hear it in the background. >> that is our car. it is an nbc car. >> it is coming to get you. >> we have not had this kind of dramatic split before. ritz now 75% to 25%. it is declining a little bit. will americans buy self-parking cars? cnbc.com/vote. it has come down to 58%. it started off strongly in favor of it. get home safe. tha thanks a lot. >> if somebody doesn't steal our car. >> two to one americans say they will pay and buy self-parking cars. how about that, sue? >> you know, i think it would be really interesting especially if at christmas time if it is a
really crowded parking lot can i instruct it to park and i go into the car and do my christmas shopping. >> think about this, sue. 40% of the congestion, 35% to 40% of congestion in big cities is caused by people looking for parking spots. number one problem that is what causes congestion. >> i might pay to have that added. it would be very cool. thanks. nice job. new jersey governor chris christie making a bold move to legalize sports betting. a record sentencing in the high profile insider trading case. kate kelly is live with that for us. >> reporter: i'm in downtown manhattan where just behind me a short time from now former portfolio manager for sac capital and the person behind
arguably the largest averted losses in gains in insider trading in history will face the music. he will be sentenced. we will find out the details around 3:00. when "power lunch" gets back i will have more. will have more. there's a difference when you trade with fidelity. one you won't find anywhere else. one-second trade execution. guaranteed. did you see it? in one second, he made a trade, we looked for the best price, and the trade went through. do the other guys guarantee that? didn't think so. open an account and find more of the expertise you need to be a better investor.
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let's take a look at the metals. with the strength of the u.s. dollar that pushed the market down and affecting silver and palladium market. the founder of the chick-fil-a chain has died. there are now more than 1,800 locations with annual sales of over $5 billion. chick-fil-a famous for closing on sundays but provoked controversy after dan cathy opposed same-sex marriage. matthew martoma found guilty of insider trading last
february. kate kelly live outside the courthouse in lower manhattan. >> reporter: i'm standing outside where about an hour and a half from now the former sac capital portfolio manager will face the music and possibly receive the longest sentence ever. after more than a month at trial found guilty by a jury in february of two counts of securities fraud and related count of conspiracy. in trading of two pharmaceutical stocks informed by insider knowledge of a doctor. thanks to the tips they argued martoma generated a quarter billion dollars in gains and marking a record result for an individual accused of insider trading. he received more than $9 million in compensation that year, pay that prosecutors want to see him
forfeit along side a penalty fee. with all of this in mind federal judge must make a decision and announce today what he plans to do with mr. martoma. it is suggested it could be as long as 15 to 20 years in jail. prosecutors asked for eight years or more. martoma's lawyers objected to a term of that size. >> we will wait to see that at 3:00 p.m. eastern time. with all the action in the u.s. dollar let's get a look at the bond market. as you recall we had a lot of volatility in interest rates and the yield. the yield on the ten year is 2 had t2.47%. the 30-year yield is 3.326%. you are up to date on interest rates. >> let's check out this pad. it is the most expensive home listed in the united states. the asking price is $140
million. the broker who is selling this mansion will take us on a tour, plus the most hated stocks. are they in your portfolio? >> we scanned the entire s&p 500 for the stocks that have the biggest implied down side moves based upon analyst target prices. we will have big names. one of them is a huge athletic apparel company and it is not nike. more after the break. re after it's monday. a brand new start. your chance to rise and shine. with centurylink as your trusted technology partner, you can do just that. with our visionary cloud infrastructure, global broadband network and custom communications solutions, your business is more reliable - secure - agile. and with responsive, dedicated support, we help you shine every day of the week. centurylink
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a vast majority of analysts have buy ratings on a vast meteorolo majority of stocks in the s&p. there are exceptions. we have the list and the metrics. >> why do we hate these fellows? >> we have a bunch of analysts who cover stocks and have the price targets on average for s&p 500 stocks currently below where the stock is trading. the stocks may have overshot. here is a sampling. 30 stocks apparently right now
trading at least 3% or higher above where analysts think the stocks should trade. the first is interesting. we are taking a look at one name, underer armor. this is a hot stock. this is up 65% just over the course of the past year. that is 2014 year to date. in essence the stock should be traded about $69 traded on top of that right now. you could see the stock fall by 6%. ceo has a huge hot streak. he didn't sign kevin durant to an nba deal but did sign -- another is alcoa. the stock that got kicked out of the dow kind of unofficially kicks off large cap earnings season. $16 average target price which implies possible 6% drop. that is interesting to watch, as
well. finally here pet smart also one of the most hated stocks in the index right now based on analyst target price because they have a $65 average target price on shares which implies 9% down side. each has a story associated. underarmer lots of high profile signings. alcoa getting fundamentals back. the position is there three of the names, staples is the worst. >> thank you very much. let's get to the day's trading. welcome back, bob. >> reporter: i got an earful from the italians. tough times in europe. you were talking about the weakness in the british pound. we are starting to see currency wars emerging. take a look at the full screen. dollar is near highs against the euro and the yen. weakness in the euro and the
yen. the economy is doing better in the u.s. but not so well in europe and japan. they are not emerging out of the slump they have seen. last week ecb announced a stimulus program. euro zone economy isn't getting enough attraction. japan with disappointing gdp over the weekend. demand is not materializing. weak global demand affecting commodities. oil has been weak again. energy stocks very hard to justify a high valueuation when you have weak demand and high supply. they are starting to show up in the united states. look at europe, this is starting to roll over, the biggest of the european. this is how you own europe. high volume down again today. the important thing is scotland is labor heavy. you were talking about if they actually secede from the uk
there will be more in the uk and there is concern maybe ties with the european union already will get worse. that is an issue directly affecting the stock market right now. british banks and i should say scottish banks among the biggest ones. here is a simple question. the uk government bailed these two banks out. who actually pays for that? how do you deal with these issues? i am hopeful that some of this will go away. they will put together a package to appeal to the scots to let them have more independence and a lot of traders feel the no vote will carry the day. the bottom line is the global economy and i got an earful from venetians. bitter, bitter complaints about taxes being too high and costs being too high. >> uk parliament is scrambling to try to get a package together.
it is a little late in the game. goldman sachs is bullish again on stocks upgrading equities to overweight. is this the right move with september traditionally the worse month for the market. joining me now we have mike ryan, chief investment strategist at ubs. welcome to you both. september tends to be pretty rocky normally although this market seems to be handling things so far pretty darn well. >> we wouldn't be surprised to see volatility in the month of september but that doesn't change our overall view on equities which is that they look relatively attractive. >> based on valueuation? >> based on prospects for growth and based on how they look relative to your other alternatives. >> right. mike, i think you probably agree with most of that. you have been expecting stocks to continue to move higher. that has been the correct call all along. >> i don't think anything we have seen has alterred our view. i think the economy continues to grind higher.
i don't think it is a breakout but we continue to see broadening recovery. i think although the fed will begin tapering and tightening early 2015 i see the policy back drop is largely supportive. against that back drop we continue to focus on risk assets and where we think the growth is more sustinable and where the policy back drop is accommodative is the united states. we want to be over at u.s. equities. >> you said preferences technologies and financials. financials under performed in some cases. why do you like that particular group? >> let me focus on why we like those sectors in particular. we want to focus on where we are in the business cycle. we are about mid cycle. we want to focus on where the growth drivers are emerging and we think it is capital expenditures. we want areas less vulnerable to
tapering and tightening. we want places where valuation is fair and not overextended. what fits the bill is technology and industrials and financials. >> christina, where would you put cash to work in the market at this standpoint if you expect volatility but the market moving higher? >> we have exposure to global equities. if we look specifically at the u.s. we look to history to give us a sense of where to go. in past rate hike cycles we saw energy and technology perform best and consumer discretionary performed worse. those provide some help to investors in terms of knowing where to go in the environment. >> you mentioned emerging markets. any particular area of the globe that you like? >> aging emerging markets look attractive. there is some risk given china. >> christina, thank you so much. >> mike, good to see you again. thanks. this is the most expensive home
for sale in the u.s. a florida compound built to look like the palace of versailles. how much is it listed for and who would buy it? cnbc's welt editor has clues. >> this thing is 60,000 square feet, 17 bathrooms, 30 car garage and the stairs alone cost $2 million. we will tell you how much this thing costs and talk to the broker who is selling it coming up right after the break. # ak. # but i've managed. ♪ i got to be pretty good at managing my symptoms, except that managing my symptoms was all i was doing. ♪ when i finally told my doctor, he said my crohn's was not under control. ♪ he said humira is for adults like me who've tried other medications but still experience the symptoms of moderate to severe crohn's disease. and that in clinical studies, the majority of patients on humira saw significant symptom relief.
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financial noise financial noise virtually all your important legal matters in just minutes. now it's quicker and easier for you to start your business, protect your family, and launch your dreams. at legalzoom.com we put the law on your side. . in our headlines this hour marriott is planning to add up to 235,000 new rooms around the world through 2016. google added to the picks list and bank of america upgraded to buy from neutral at goldman sachs. the firm says investors will begin to focus on operational improvements as legal issues proceed into the background. the most expensive home for
sale in the country is listed at just under $140 million. that is the number. 140. our wealth editor is here with more on the florida mansion and the listing agent. this could be a happy person. >> only 139 million. it is 60,000 square feet. the most expensive listing in america just come on the market. broker william pierce joins us from miami. the most expensive home sold in this neighborhood i think was $17 million. what makes this house worth 139? >> actually, first of all, good afternoon and thank you for having me on your show. what makes a property so special is that the location of the property is situated in hillsboro beach. it has 465 feet of ocean front real estate. it also has 492 feet on the
intercoastal for the yacht enthusiast. the property itself there are so much amenities to talk about. >> $2 million stairwell and 30 car garage. what kind of inquiries? have you gotten serious buyers looking at this thing? >> we have gotten a lot of inquiries. we have some serious inquiries on the property. the buyers i think are from all over the world. inquiries pouring in from brazil and russia and china, india. can't forget america. i am surprised the amount of americans inquiring on the property. >> the last time we had so many million dollar plus homes on the market was right before the crash in 2008 and 2009. are we seeing a bubble in florida? are you worried about it? >> i'm not worried about it. the market is completely
different. we are seeing a lot of people out, all the transaction i have seen are cash transactions. financing really doesn't exist. >> especially for $139 million. thank you for joining us. back to you, sue. >> i could live there. appreciate it. in today's power run down new jersey governor chris christie is pushing to legalize sports betting. australian designer is latest addition to apple's payroll. if you are suddenly very, very rich what would you buy first? go to cnbc.com/vote to join the conversation. "power lunch" returns in a minute with the dow down 53 points. points. hi, are we still on for tomorrow? tomorrow. quick look at the weather. nice day, beautiful tomorrow. tomorrow is full of promise. we can come back tomorrrow.
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tracks without fear of civil or criminal liability. will this master plan work? >> why didn't he do this already? we just saw major casinos in atlantic city shut down. there is another one expected to shut down. he has a major problem in atlantic city and seems he should have done this a little sooner. >> this is just sort of a breaking story in the last hour. as i recall there were legislative impediments to letting him do that sooner but it certainly seems like the kind of thing that could have helped the revel and show boat and others. >> julie says it could have saved them. i don't know given the location of atlantic city whether this could have changed the game for them. this is going to face a lot of opposition from sports leagues. they are going to be concerned that sports will look to be rigged and have opposed new jersey getting into this. >> take the giants to not give the points. i would never. next apple hires designer
marc newson. he is a designer and artist. what could a guy like him bring to the party at apple? >> i think he could bring a lot. he is a design legend. people who are experts in the field look to him as a vision a ary for design. you have people from the fashion world from burrberry. these are a lot of high end talented people who could really make apple a design icon not just for electronics but for things like wearables which we expect to hear an announcement about tomorrow. >> the chairs look chic. we will move to number three. if you were suddenly very rich what would you buy first? tell me what you think, cnbc.com/vote. this following the signing of
j.j. watt, houston football player who killed the washington team yesterday, what he would do with his -- >> he got this $100 million contract. he said he googled what do rich people buy? i can help you with those problems. you can buy two thirds of that house we showed you, two ferrari gtos or put it away in an investment account and diversify and live a comfortable life and not have a 60,000 square foot mansion which he said it is too complicated i will keep my life simple. >> what would you do? >> i think munis. i hear people who have a lot of money wanting to spend money on experiences. what you buy for a person who has everything you go on an amazing trip and try to have a unique experience. >> that is a good experience.
>> and easy for me to say but i would love to give away a lot of it. we will give you the results of the poll. we will leave the polls open. cnbc.com/vote. tell us what you would do if you had a suddenly large windfall. for profit education stocks become very popular on wall street. we look at whether or not the rally can continue. how could an independent scotland impact your investments and the shocking headline regarding millennials and their money. all of that coming up top of the hour. "power lunch" returns right after the break. after the brea after the brea here. or here. or here. it's wherever this is. to get customers to come here and stay here, you're going to need an app that connects to all your systems. so they can bank, shop, do what they need to do, and you gotta do it fast.
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we are going to lock in the vote. we asked you to vote on cnbc.com/vote. if you were rich what would you buy first? 39% of you say a house. 19% say a car. 17% say a vacation and a quarter of you, sue, say bonds. i assume if you made a lot of money it would be to put it in the triple tax free. >> i'm surprised the number was
that high on that. that would be the smart thing to do. >> these are responsible viewers. >> energy sector weighing on the market. dow jones industry average off about 53 points and the dollar is soaring against the yen and the euro. >> thanks for joining us for "power lunch." "street signs" begins now. would you buy a self-driving car? detroit is making a big bet that you will. we will take you to the motor city for the latest on this big push. plus your market play book. you have apple tomorrow and the president's big speech wednesday. a surprising stat about how millennials are spending or not spending money. what restaurant chain made you say genius or worst thing you have heard? >> you have been trudging uphill for five straight weeks