Inventory market this present day: Shares shed beneficial properties before March jobs chronicle | April 4. 2024

>>> IT'S 9:00 A.M. HERE IN NEW YORK CITY. THIS IS “MORNING BRIEF,” THE ULTIMATE GUIDE TO HELP INVEST OFFERS MAKE SMARTER DECISIONS. WE'RE BRINGING YOU TODAY'S TOP MARKET THEMES, PLUS LIFTING YAHOO FINANCE'S MOST POPULAR NEWSLETTER.

>>> S&P AND NASDAQ FUTURES BOTH RISING TO SESSION HIGHS AFTER JOBLESS CLAIMS AROSE, HITTING THE HIGHEST LEVEL WE HAVE SEEN SINCE JEANS WAR. >>> AND A SLEW OF FED-SPEAK THAT'S SCHEDULED FOR TODAY. PATRICK HARKER, AND AUSTAN GOOLSBEE, AND LORETTA MESTER.

LET'S GET TO YOUR ROAD MAP FOR THE DAY. >>> STOCKS ALL IN THE GREEN AS THE S&P 500 SNAPS A TWO-DAY LOSING STREAK ENDING WEDNESDAY'S SESSION SUP. >> MOST FOMC MEMBERS EXPECT — >> WITH AN ALL-STAR LINEUP FROM PATRICK HARKER, AUSTAN GOOLSBEE,.

AND CLEVELAND PRESIDENT LORETTA BESTERS AMONG OTHERS. >>> DISNEY SUCCESSFULLY FINDING OFF A CHALLENGE FROM NELSON PELTZ. ABOUT 75% VOTED TO KEEP THE BOARD INTACT. THIS ENDS MONDAYS OF UNCERTAINTY AND DISTRACTION FOR CEO BOB.

IGER, BUT DISNEY FACES AN UPHILL BA BATTLE. >>> THE ENGINEERS AT APPLE IS LOOKING INTO A ROBOT THAT CAN FOLLOW USERS AROUND THEIR HOME, AND POSSIBLY A TABLETOP HOME DEVICE. THE EFFORTS COULD REPRESENT A.

SIGNIFICANT MOVE AFTER THE COMPANY SCRAPPED ITS GE GESTATING ELECTRIC VEHICLE PROJECT BACK IN FEBRUARY. >>> STOCK FUTURES ARE TICKING HIGHER AFTER JOBLESS CLAIMS ALSO MOVED TO THE UP SIDE. CHAIR POWELL ONCE AGAIN SAYING HE EXPECTS CENTRAL BANKS TO.

LOWER RATES THIS YEAR. WE'RE FLIPPING IT OVER TO THE FUTURES AND WHAT WE ARE SEEING THERE, RIGHT AROUND THE HIGHS FOR THE SESSION FOR FUTURES. YOU'VE THE S&P ON TRACK TO OPEN THE DAY HIGHER AS WELL, TAKING A LOOK AT WHERE WE ENDED THE DAY YESTERDAY.

WE DID SEE GAINS ON THE SCREEN FOR THE S&P, JUST ABOUT A MOVE TO A HIGHER ABOUT A TENTH OF A PERCENT. THE NASDAQ CLOSED UP TWO TENTHS OF A PERCENT TODAY. BRAD? >>> GOLD HAS BEEN ALL THE RAGE. LET'S LOOK AT GOLD FUTURES.

WE'RE OFF OF THE HIGHS WE HAVE SEEN, BUT NOTICE HOW CLOSE THEY ARE, WHAT WE HAVE SEEN OVER THE DAYS, ULTIMATELY ON THE PAST COUPLE DAYS AS WELL, AS THAT IS STRIKING SOME NEW HIGHS. LET'S ALSO TAKE A BRIEF LOOK AT OIL. THERE YOU'RE SEEING A SLIPPAGE.

THAT'S NOT AN OIL JOKE, BUT A TECHNOLOGICAL TERM. WE'RE SEEING IT DOWN BY ABOUT 0.1%. >>> WE'RE TRACKING ALL THINGS DISNEY. IT CAME OUT ON TOP IN THE BATTLE AGAINST NELSON PELTZ. THE ENTERTAINMENT GIANT SAYING.

WEDNESDAY AT ITS ANNUAL SHAREHOLDER MEETING THE CURRENT BOARD WILL REMAIN INTACT AFTER 75% OF CURRENT VOTERS VOTED. WE'RE JOINED BY DOUG KURTZ, THE RESEARCH ANALYST COVERING THE LANDSCAPE, AND ENTERTAINMENT REPORTER ALEXANDRA CANAL. DOUG, ARE YOU AT ALL SURPRISED.

BY WHAT WE SAW? >> I WOULD HAVE BEEN SURPRISED IF THEY WON. THEY JUST DIDN'T HAVE THE VOTES. WILE THEY IDENTIFIED SOME THINGS THAT DISNEY HAD MAYBE MISHANDLED IN THE PAST, I DON'T THINK THEY HAD MUCH IN THE WAY OF A PLAN FOR THE FUTURE THAT WAS.

PARTICULARLY INTERESTING HERE. >> WHAT HAPPENS NEXT FOR IGER? FROM YOUR PERSPECTIVE, WHAT COULD BE NUMBER ONE ON HIS PLACE? >> WELL, FROM MY PERSPECTIVE, I THINK DISNEY OUGHT TO BE LEADING THE CHARGE TO REBUNDLE ALL THE DISPARATE DIRECT-TO-CONSUMERS.

BUSINESSES OUT THERE. I THINK THAT'S WHAT THE INDUSTRY FACES. BY LEAVING A BUNDLE BEHIND, GOING DIRECT TO CONSUMER, YOU HAVE CREATED A LOT OF OVERHEAD, ADDITIONAL COSTS THAT DIDN'T EXIST BEFORE, IN TERMS OF ACQUIRING USERS, AND IN TERMS OF.

HAVING TO OVER-PROGRAM YOUR SERVICE RELATIVE TO WHAT PROGRAMMING YOU NEEDED TO BUNDLE BEFORE. I THINK THAT'S THE DIRECTION THEY SHOULD BE GOING. WHAT THEY ANNOUNCED WITH WARNER AND FOX, I THOUGHT THAT WAS A GOOD SIGN, BUT IT'S A LONG WAY.

TO GETTING BACK TO BUNDLED PRODUCT. IT WAS GREAT WHEN YOU COULD BAY $7 A MONTH TO GET TONS OF PROGRAMMING AND NO ADVERTISING, BUT NOW INCREASINGLY THE SERVICES ARE MAJOR SPORTING EVENTS, THE NFL PLAYOFF GAME RECENTLY WAS EXCLUSIVELY THROUGH.

A STREAMING PRODUCT. A LOT OF CONSUMERS WERE HAPPY ABOUT THAT. WE'LL HELP THE INDUSTRY AND ULTIMATELY THE CONSUMER. I THINK THAT'S WHAT IT SHOULD BE. >> DOUG, ANOTHER BIG PRIORITY OF DISNEY IS A SUCK PLANNING.

THAT WAS A BIG CONVERSATION. WHEN IT COMES TO THE BOARD MOVING FORWARD, HOW MUCH MORE PRESSURE ARE THEY GOING TO FACE POST-PROXY BATTLE. I WOULD ASSUME THAT NOW A LOT OF MORE EYES ARE ON THIS BOARD TO DELIVER TERMS. THEY'VE SPENT TEN YEARS.

LITERALLY TRYING TO FIND A REPLACEMENT. IT'S NOT CLEAR THAT THERE'S SOMEBODY INTERNALLY TO STEP INTO THE JOB. TO GET SOMEONE EXTERNALLY IS RISKY. SO THERE IS A LOT OF PRESSURE ON THE BOARD TO FIND A SUCCESSOR TO.

IGER. I THINK THERE WAS, BEFORE PELTZ RAISED HIS HAND, I THINK THERE'S AFTER PELTZ HAS MOVED ON. THAT IS SOMETHING THAT I THINK INVESTORS. I THINK RIGHT NOW, 2026 STILL FEELS FAR AWAY, SO YOU'RE STILL LOOKING FOR AN OPTIMISTIC.

OUTLOOK AS YOU GET CLOSER TO 2026, IT WILL BE MORE OF AN OVERHANG. >> WHAT ARE INVESTORS STILL GOING TO HOLD THEM TO? >> THE ONE THAT STANDS OUT IS THE STREAMING SERVICE SHOULD BE A 20% OPERATING MARGINS, AND IT'S CURRENTLY LOSING MONEY.

THE FUNNY THING WAS, IT WAS SUGGESTED IT WAS A COST-SIDE PROBLEM, BUT IF YOU LOOK AT DISNEY'S COST PER SUBSCRIBER TODAY, IT'S ALMOST IDENTICAL TO NETFLIX. THE ISSUE IS THE REVENUE SUBSCRIBER IS LIKE 30% BELOW WHAT NETFLIX IS GENERATING.

SOME OF THAT IS BECAUSE NETFLIX HAS BEEN AROUND LONGER, AND I THINK THAT HAS TO DO WITH DISNEY SERVICES AND NETFLIX'S SERVICES. I DON'T KNOW THAT THAT'S A REASONABLE GOAL ANYTIME SOON, EVEN THEN, THOUGH, YOU MIGHT LOSE A LOT OF SUBS. THAT'S A RISK, TOO, SO I THINK.

INVESTORS DON'T EXPECT 20% OPERATING MARGINS, BUT THEY DO EXPECT MEANINGFUL PROGRESS TOWARD THAT GOAL. I DON'T KNOW THAT THEY'LL BE SIGNIFICANTLY PROFITABLE BY THAT POINT. >> DOUG, DO YOU EXPECT MORE ACTIVISTS TO CIRCLE THIS COMPANY.

MOVING FORWARD. DO YOU THINK HE J– PELTZ JUST ACTIVELY GOES AWAY? >> IT'S HARD TO GET A BIG COMPANY LIKE DISNEY TO MOVE. IN ORDER TO OWN ENOUGH SHARES TO MAYBE, YOU KNOW, VOTING AGAINST A BOARD A CREDIBLE THREAT, YOU HAVE TO BUY A LOT OF STOCK.

THAT'S VERY RISKY. DISNEY IS CREATIVE COMPANY. THEY DON'T JUST MAKE WIDGETS. IT'S NOT JUST A QUESTION OF RAW EFFICIENCY. DISNEY OBVIOUSLY HAS IDENTIFIED THE CREATIVE OUTPUT HAS BEEN SUBSTANDARD FOR THEM. IGER IS TRYING TO ADDRESS THAT.

I THINK HE'LL HAVE AT LEAST SOME SUCCESS. I DON'T THINK YOU'RE GOING TO BE OTHER ACTIVISTS GET INVOLVED HERE, ESPECIALLY AFTER THE RESOUNDING DEFEAT. AS FOR WHAT PELTZ DOES, MAYBE HE SELLS THE STOCK AND WALKS AWAY AND DECLARES VICTORY.

HE HAS MADE A LOT OF MONEY IN INVESTMENT. THE STOCK HAS GONE UP A LOT. YOU KNOW, HE MIGHT HAVE LOST THE VOTE, BUT IF YOU MAKE MONEY, THAT'S STILL OKAY. >> OKAY. WE WANT TO SWITCH GEARS HERE. IT'S ALSO PAUSING CONVERSATION.

WITH OTHER BIDDERS WHILE IT WORKS OUT A POTENTIALLY DEAL WITH SKYDANCE AFTER THERE WAS AN OFFER TO BUY THE ENTIRE COMPANY. LET'S TALK ABOUT HOW LIKELY SKYDANCE WILL BE THE ONE OUT OF BIDDERS TO ACQUIRE PARAMOUNT. DOUG, DO YOU THINK THIS IS A GOOD MOVE FOR PARAMOUNT?.

HOW ARE YOU LOOKING AT THIS FROM AN ANALYST PERSPECTIVE? WHAT DOES THAT THEN TELL YOU MORE BROADLY ABOUT THE MEDIA LANDSCAPE NOW? >> $26 BILLION — AGAIN, THIS HAS BEEN REPORTED, BUT A LOT OF TIMES THERE'S THE DEVIL IN THE DETAILS, BUT $26 BILLION FOR.

PARAMOUNT WOULD BE A SIGNIFICANT PREMIUM TO THE CURRENT STOCK PRICE. YOU KNOW, IT VALUES THE STOCK SOMETHING IN THE 20s, AND STOCKS AT $13 OR WHATEVER IS TRENDING. THAT'S A BIG PREMIUM. MAYBE THAT'S HARD TO TURN DOWN AND MAYBE SKYDANCE IS OFFERING.

MORE. THERE'S THE PARAMOUNT STOCK, THERE'S ALSO NAI, WHICH HAS A VOTING PERCENTAGE. IT WOULDN'T NECESSARILY CURRENTLY HOLD PARAMOURN SHAREHOLDERS. SO, IT DEPENDS ON EXACTLY WHAT THE DISCUSSIONS ARE THAT ARE.

GOING ON, WHETHER THEY INVOLVE FOR PARAMOUNT SHARES? >> THERE HAVE ALWAYS BEEN PEOPLE WITH LOTS OF MONEY, AND SOMETIMES THEY BE PRICE SENSITIVE. I THINK THAT'S THE DEFAULT EXPECTATIONS, AND, BUT IF SOMETHING DOES HAPPEN, IT.

WOULDN'T NECESSARILY SURPRISE ME. >>> DOUG, THANKS FOR TAKING THE TIME HERE. THANK YOU SO MUCH. >> THANK YOU. >>> WELL, APPLE'S NEXT BIG BET IS STRAIGHT OUT OF A SCI-FI FILM, IT COMES AS APPLE FACES.

MOUNTING CHALLENGES. >>> HERE WITH MORE IS DAN HOW HOWLEY. >> YEAH, THIS IS A BIG DEAL. THE IDEA THEY'RE GETTING INTO OR EXPLORING THE IDEA OF HOME ROBOTICS IS A MAJOR STEP IN A DIFFERENT DIRECTION.

THEY WERE ORIGINALLY GOING FOR THE CAR. OBVIOUSLY AFTER A DECADE OF WORK, THEY KIND OF PUT THE KIBOSH ON THAT. THEY STILL NEVER CAME OUT AND SAID THEY WERE WORKING ON ONE, BUT NOW THIS REPORT SEEMS MORE ATTAINABLE FOR A COMPANY LIKE.

APPLE TO GET INTO THIS. THERE ARE OTHER ROBOTS IN THE MARKET. THERE'S ROOMBA, AND THERE'S ASTRO, AND YOU CAN GIVE IT CANS OF SODA TO NAVIGATE AROUND THE HOME. BUT IT'S NOT EXACTLY A HUGE PRODUCT GOING CRAZY.

FOR APPLE TO GET INTO THIS, IT'S GOING TO HAVE TO PITCH THIS AS A MUST-HAVE. TO ME, IT'S A SPREE. WHETHER APPLE ROLLED OUT THE APPLE WATCH, FOR INSTANCE, THERE HAD BEEN PRODUCTS OUT THERE. IT WAS A PROVEN MARKET. WHEN THEY CAME OUT WITH THE AIR.

PODS, IT WAS A PROVEN MARKET. THIS IS NOT A PROVEN MARKET. SURE, IT'S GOING TO GET INTO MARKETS THAT ARE NOT NECESSARILY BUILT OUT. THAT'S NOT REALLY THEIR M.O. AT ALL. THEY WAIT TO KNOW THAT THERE'S SOMETHING GOING IN THE MARKET.

THAT PEOPLE WANT. SO, GETTING INTO THE PERSONAL ROBOTICS SPACE, AGAIN, THIS IS STILL REPORTED, THEY HAVEN'T SAID ANYTHING, PEOPLE ALSO MET WITH PRODUCTS, SO THIS MAY NEVER HIT THE MARKET, BUT IT'S NOT EXACTLY APPLE'S MOVE TO DO SOMETHING, FOR APPLE TO BE A.

NICHE PRODUCT THAT IS EXPENSIVE, NOT MANY PEOPLE SEEM TO WANT, I DON'T KNOW IF APPLE WILL GO ALL THE WAY WITH THIS. >> DOES IT LOOK LIKE A NIGHT SCOPE? DOES IT MORPH INTO A TESLA? >> JOHNNY FIVE? >> INTERESTING, INTERESTING.

DAN, THANK YOU SO MUCH. SEANA, WHAT IS UP? >>> THERE'S A LOT TO COME HERE AT YAHOO FINANCE. FIRST UP, WALL STREET'S BEAR TONE IS RAMPING UP. WE ARE GOING TO BE SPEAKING WITH ONE ANALYST WHO SAYS NOW IS THE TIME TO SELL THE STOCK.

>>> PLUS AMAZON'S BIG BET ON A.I. THE COMPANY SPENT $2.7 BILLION ON A START-UP EARLIER THIS MONTH. WE'LL BE JOINED BY AN EXECUTIVE LATER IN THE SHOW TO DIG DEEPER. LATER, IN OUR BRAND-NEW SHOW, “WEALTH,” IT'S CRUNCH TIME FOR.

TAXES. HE'S GOING TO BRING YOU THE TIPS AND TRICKS. KEEP IT RIGHT HERE ON YAHOO FINANCE. WE'LL BE RIGHT BACK. >>> TICKER SYMBOL F SUP, AS IT POSTPONED THE PRODUCTION OF THE ELECTRIC SUV UNTIL 2027.

FORD SAYS IT'S GOING TO CONTINUE TO INVEST, BUT SAYING IT'S DELAYING TO ALLOW — DO YOU POSTPONE THIS MANUFACTURING, SUCH AS FORD IS COMING OUT, OR DO YOU TRY TO ENTER INTO A MARKETING BLITZ, WHICH CAN BE VERY COSTLY. >> IT'S A PROBLEM THAT FORD AND.

ITS RIVALS ARE AUTOMATIC STRUGGLING WITH AT THIS TIME. IN THIS REPORT, THEY POINTED DIRECTLY TO PRICE. >> PEOPLE SIMPLY ARE NOT SPENDING AS UP AS THEY PREVIOUSLY WE ARE ON SOME OF THOSE LARGER PURCHASING, SO THINGS LIKE EVs LOOKING TO.

ADDRESS SOME OF THE PRICING ISSUES. BY DELAYING THIS DEBUT HERE WE KNOW THE PRICING WARS HAVE PLAYED OUT, NEARLY EVERY SINGLE AUTOMAKER BEING FORCED TO LOWER PRICES IN ORDER TO REMAIN COMPETITIVE. THIS IS JUST THE LATEST, BECAUSE.

OF THE FACT THAT DEMAND SIMPLY IS NOT WHAT THEY INITIALLY EXPECTED AT THIS TIME. >> IT'S ALSO THE RELATIONSHIP WITH THE CONSUMER. YOU KNOW, I LOVE TO COME BACK TO THIS STUDY. A LOT OF EV CONSUMERS WERE INFORMED OF THE FASTER TIRE.

WEAR. SO WE'LL SEE HOW FORD ADJUSTS. >> ALL ABOUT THE TIRE WEAR FOR BRAD. >> THAT'S RIGHT. YOU CAN'T DRIVE ON NUBS. >> LET'S LOOK AT ONE OF THE READS HERE ON THE CONSUMER, THAT'S LEVI'S.

SHARES UP 14%, MOVING HIGHER AFTER THE COMPANY BEAT THE STREET'S EXPECTATIONS BOTH ON THE TOP AND BOTTOM LINE, DRIVEN BY A JUMP IN MARGINS. WE TALKED TO THE CFO ABOUT THE COST-CUTTING EFFORTS OVER THE LAST SEVERAL QUARTERS. THE COMPANY IS ALSO RAISING IT'S.

GUIDANCE. WHEN IT COMES TO THE RESULTS, THE STREET ALSO VERY OPTIMISTIC ABOUT WHAT THEY'RE HEARING. MORGAN STANLEY ONE OF THE ANALYSTS, SAYING THE TEAM STOOD OUT POSITIVELY, COST CUTTING REALLY STARTING TO TAKE HOLD, PRODUCTIVITY PLANNING, IT'S ALL.

STARTING TO PAY OFF. >> REALLY INTERESTING, AT LEAST IN THE MOST RECENT QUARTER, THE NET REVENUE IS ULTIMATELY 8% LOWER. YOU LOOK AT SOME OF THE SEGMENTS OF THIS BUSINESS GEOGRAPHICALLY, YOU ALSO SAW IN EUROPE NET REVENUES DECREASE 7%.

ALL OF THIS CONSIDERED HERE, YOU HAVE TO THINK ABOUT WHERE THEY'RE GOING TO PULL SOME LEVERS AND SEE STRENGTH. IT MIGHT BE ASIA. IT'S A LARGE QUESTION OF HOW MUCH THEY CAN CAPITALIZE ON THE 22% GROWTH IN THE PRIOR YEAR THEY HAD ALREADY SEEN.

I DON'T KNOW WHAT THE JEAN REPLENISHMENT SAYS. >> DO YOU WASH YOUR JEANS? >> I THINK YOU'RE SUPPOSED TO AFTER A CERTAIN AMOUNT OF TIME? >> YOU'RE A JEAN WEARER. >> I AM A JEAN WEARER, INDEED. I WILL ACCEPT THAT HAT AND TITLE.

AND A JEAN WASHER. I CAN SAFELY SAY THAT AS WELL. BEFORE THIS GOES TOO OFF THE RAILS, WHOLE SUIT REVENUES, THIS IS IMPORTANT TO KEY IN ON. THE WHOLESALE NET REVENUES DECLINED, SO THAT WILL BE PART OF THE SHIFT WE'LL WAIT FOR. FOR A DEEPER DIVE, TUNE INTO OUR.

LIVE INTERVIEW — SEE HOW I DID THAT? THE CFO JOINS YOU TOMORROW MORNING. >>> WE'RE ALSO MINUTES AWAY FROM THE OPENING BELL WATCHING THE BIGGEST MARKET MOVERS, AND SPEAKING TO STRATEGISTS ON HOW TO POSITION YOUR PORTFOLIO FOR A.

HIGHER/LONGER ENVIRONMENT. THAT IS JUST AFTER THE BREAK. ♪ >>> BING BONG, THAT'S THE OPENING BELL. THE NASDAQ IS GETTING CLOUDY WITH IT. DXYZ IS THE TICKER SYMBOL RINGING THE BELL AT THE NEW YORK.

STOCK EXCHANGE. >>> LET'S LOOK AT WHERE THINGS ARE OPENING HERE. WE ARE SEEING A MOVE HERE. IT LOOKS LIKE ON TRACK TO OPEN THE UP SIDE, THE NASDAQ OPENING UP ABOUT 0.4%. WE CERTAIN DID DECLINE MONDAY AND TUESDAY.

A BUSINESS OF A REBOUND WEDNESDAY. AT LEAST ON AN INTRADAY BASIS, WE'RE OPENING TO THE UP SIDE. . ROUNDING IT OUT WITH THE DOW, A HUGE MOVE TO THE UP SIDE. STILL IN NEGATIVE TERRITORY ON A FOUR-DAY BASIS.

LOOK AT THAT, ALL GREEN ON THE SCREEN HERE THIS MORNING. WE WERE JUST RIGHT AROUND THE FAULTLINE WITH ENERGY, BUT IT'S UP. >> SO WE HAVE GREEN ACROSS THE SCREEN, SO LET'S KEEP THE GOOD TIMES ROLLING. LET'S GO TO YAHOO FINANCE'S OWN.

JARED BLIKRE. >> I'M WATCHING GOLD WITH A NEW NOMINAL HIGH, BUT BACKING OFF OF IT A BIT. THE SQUARES ARE JUMPING AMP QUICKLY. WE ARE PLAYING A GAME OF WHACK-A-MOLE HERE. THIS WAS ACTUALLY A RECORD.

OVERNIGHT. BASICALLY GOLD HAD BEEN STUCK IN A TRADING RANGE, AND IT FINALLY BROKE OUT, CLASSIC BREAKOUT FROM A LONG TRADING RANGE, SAYS THERE SHOULD BE MORE MOMENTUM. WHAT'S IMPRESSIVE TO ME IS THIS HAS HAPPENED AGAINST A BACK DROP OF A STRENGTHENING DOLLAR OVER.

OF LAST FEW MONTHS. I'M GOING TO PULL UP A CHART OF THE DXY HERE. YOU CAN SEE JUST PULLING OFF A POTENTIAL DOUBLE TOP HERE. SO WHY I BRING THE DOLLAR UP? IF THE DOLLAR CONTINUES TO MOVE TO THE DOWN SIDE, AS IT WANTS TO CONTINUE THE PATTERN, THAT COULD.

BE AN ADDITIONAL CATALYST FOR GOLD. CRUDE OIL HAS BEEN HOLDING ABOVE $85 A BARREL. I DON'T KNOW IF YOU'RE GOING TO GET A QUOTE HERE. IT IS 85.36, SO GOT TO KEEP AN EYE ON OIL, TOO, GUYS. >> CERTAINLY INTERESTING MOVES.

WE ARE SEEING. >>> AGAIN, WE ARE MOVING TO THE UP SIDE. THE S&P 500 UP A BIT AFTER SNAPPING A TWO-DAY LOSING STREAK. INVESTORS ARE LOOKING AHEAD TO THE JOBS REPORTS TOMORROW. WE'RE ALSO GETTING COMMENTARY.

OUT FROM FED OFFICIALS THIS WEEK, FANNING RATE CUT HOPES HERE. JAY POWELL IS REITERATING THE FACT THEY'RE LETTING THE DATA GUIDE THE NEXT STEPS. >> WE DO NOT EXPECT TO LOWER THE POLICY RATE UNTIL WE HAVE GREATER CONFIDENCE THAT.

INFLATION IS SUSTAINABLY MOVING DOWN TOWARD 2%. WE HAVE TIME TO LET THE INCOMING DATA GUIDE OR DECISIONS ON POLICY. >> WHILE THE RATE CUT PATH REMAINS MURKY, WE HAVE MAX IN. WE HAVE A LOT TO DIGEST HERE, BUT YOUR PERSPECTIVE, A LOT OF.

FOCUS ON THE JOBS PRING WE'RE GOING TO GET OUT TOMORROW MORNING. WHAT DO YOU THINK THAT WILL SI SIGNAL. >> TO BE HONEST, I'VE BEEN LISTENING THE LAST 10, 15 MINUTES, PROBABLY THE MOST.

INTERESTING THING YOU'VE BEEN TALKING ABOUT IS WHETHER I SHOULD WATCH MY JEANS. YOU KNOW? PERHAPS A BIT OF THE MARKETS. WHEN WE LOOK AT THE FED RIGHT NOW, I THINK IT'S QUITE CLEAR THEY GOT AWAY FROM THINKING ABOUT POWELL TWO YEARS AGO.

SAYING, YOU KNOW, WE'RE LOWERING INFLATION WILL REQUIRE PAIN. THAT'S THE MOVE TOWARD BRINGING INFLATION DOWN NOW ACTUALLY REQUIRES TIME. NO LONGER THE PAIN, IT NO LONGER REALLY REQUIRES BRINGING THE ECONOMY DOWN OR PERHAPS BRINGING US INTO A RECESSION, NO, THAT'S.

NOT REQUIRED ANYMORE, BUT IT WILL REQUIRE SOME PATIENCE. MIGHT WE SEE TO LESS THAN THREE RATE HIKES? THAT'S SURELY A POSSIBILITY. OUR FORECAST IS STILL FOR THREE RATE CUTS BY THE FED, YES, BUT IT MIGHT BE A POSSIBILITY THAT THE FED MAY SAY WE'RE CUTTING,.

BUT IF THE DATA IS TOO STRONG PARTICULARLY AROUND THE TURN OF THE YEAR. THAT THEN IS A BIT TRICKY TO CONTINUE PLOTTING AGGRESSIVELY. I THINK OVERALL FOR THE MARKET, THAT NEED NOT BE BAD NEWS. >> WHAT DO YOU EXPECT THE DAY TO TELL US?.

>> IT'S WHAT'S GOING ON WITH RATE GROWTH, RIGHT? IN FACT, THEY PROBABLY CAN TAP THEMSELVES ON THE SHOULDER AND SAY, GREAT, WELL DONE, WE HAVE LANDED THE PLANE, RIGHT? THE LABOR MARKET IS STILL PRETTY STRONG THE UNEMPLOYMENT RATE HAS TICKED UP A BIT.

REALLY WITHOUT SIGNIFICANT PAIN. BUT, IN TERMS OF THE LABOR MARKET STRENGTHS, THAT'S STILL THERE. WHETHER THAT'S JOBLESS CLAIMS, ADP, I DON'T THINK THAT'S TOO CRUCIAL, AS LONG AS REALLY WAGE GROWTH DOESN'T GO THE WRONG DIRECTION.

>> IS THERE A BUYING OPPORTUNITY THERE STILL ONE THE COMMODITY SPACE? AND HOW COMPLICATED TO SEE THIS RUN-UP? OIL, MAKING IT TOUGHER TO TAME INFLATION? >> NOT QUITE YET ON THE OIL SIDE.

WE WILL BE MOVING FROM DISINFLATIONARY EFFECTS TO INFLATIONARY EFFECTS, BUT THEY WON'T BE CRAZY. SAY, HOW WE SWITCHED FROM 2020 TO 2021, WHERE WE WENT FROM MASSIVE ALMOST 60% YEAR-OVER-YEAR BASIS POINTS. YES, AT THE MARGIN, NOT GREAT,.

BUT IT'S NOT GOING TO MOVE THE NEEDLE THAT MUCH. STILL BULLISH ON OIL. IT'S JUST STARTING TO RIGHT. WHEN YOU LOOK AT OTHER THINGS, LIKE JET FUEL DEMANDS. SO A LOT OF THINGS ARE DIFFERENT SPEAKING — BUT LET'S FACE IT, IT DOESN'T REALLY MATTER THAT.

MUCH AS LONG AS THEY START CUTTING THIS YEAR. AS LONG AS THEY START CUTTING SAYING, LOOK, WE ARE A RATE CUT POLICY, THEY MIGHT TAKE A BIT MORE TIME. >> MAX, WE ONLY HAVE — DOES A LESS CUTS THAN EXPECTED, TRIGGER ANY PORTFOLIO REPOSITIONING?.

>> I DON'T THINK SO. >> WHAT WE HAVE SEEN, COMPARED WITH SEPTEMBER, OCTOBER LAST YEAR, WE HAD INFLATION MOVING THE WRONG WAY, THE FED — AND THE S&P WENT DOWN PEAK TO TROUGH, NOT EVEN 10%. NOW, WE ARE HAVING THEY SHOTS. OTHER THAN A COUPLE SETBACKS,.

WITH HIGH YIELD AND CREDIT SPREADS, FINE, BUT THOSE ARE THE DIPS. >> THANKS FOR JOINING US TODAY. MAX, THANKS. >>> WELL, TODAY'S STOCK TO WATCH, CONAGRA BRANDS, AND NOW BY ABOUT 4% WHILE TOP WEIGHTS ESTIMATES.

THE MAKER OF SLIM JIM AND DUNCAN HINES, MORE PEOPLE TAPPING INTO THAT, I GUESS. >> TAPPING INTO THE SWEET TOOTH. WHAT ABOUT THE NUMBERS WITHIN THE SPACE? YES, VOLUMES DID — THEY DID STILL DECLINE STILL MOVING TO THE DOWN SIDE HERE.

MANAGEMENT DID BOOST ITS THEY ARE SEEING SOME IMPROVING TRENDS WITHIN THEIR BUSINESS PERHAPS SOME OF THE INVESTORS REALLY LOOKING TO THAT, AND THE REAFFIRMATION, AND SO OF THE MARGINS COMING IN A BIT BETTER THAN EXPECTED, I KNOW SLIM JIM HAS A REAL GOOD SOCIAL MEDIA.

ACCOUNT, BUT I HAVE TO SAY, NOT MY FAVORITE. IT'S A GOOD SNACK. NOT MY FAVORITE, THOUGH. >>> AND WE'LL HAVE MORE, RIGHT AFTER THE BREAK. >>> WALL STREET GETTING MORE BEARISH ON TESLA AFTER A ROUGH START TO THE SECOND QUARTER.

A NUMBER OF ANALYSTS CUT THEIR PRICE TARGETS THIS WEEK AFTER DISAPPOINTING FIRST QUARTER DELIVERY NUMBER. GUGGENHEIM LOWERED THE STOCK PRICE TO $122 FROM THE PREVIOUS $132. LET'S BRING IN RONALD, THE DIRECTOR OF GUGGENHEIM'S EQUITY.

RESEARCH. YOU'RE LOOKING AT A FEW THINGS FORM THE DELIVERY DOWN SIDE IN THIS QUARTER, SAYING IT'S A FUNCTION OF DEMAND, NOT SUPPLY HERE. WHAT IS THE DEMAND PROFILE, AS A LOT OF CUSTOMERS SEEM TO BE WAVERING HERE ON THE PURCHASE.

INTENT. I. >> I WOULD SAY MOSTLY A FUNCTION OF DEMAND. WE THINK — BUT, MOST OF THE DOWN SIDE THIS QUARTER, RELATIVE TO YEAR-OVER-YEAR AND THE FOURTH QUARTER OF LAST YEAR WAS DRIVEN BY DEMAND.

WE THINK U.S. VOLUMES WERE DOWN SOMETHING IN THE RANGE OF 20% TO 25%. WE'RE ABLE TO BACK INTO IT FROM OTHER REGIONAL DATA, AND I THINK UNDERSTANDABLY IT WAS A MESSY FIRST QUARTER. THE DEMAND IS SLOWING, CHINA COMPETITION IS STRONG.

AND THEN EUROPE HASN'T GROWN FOR FIVE QUARTERS NOW FOR TESLA. STRUCTURALLY THERE'S EMERGING RISKS IN ALL THREE REGIONS THAT EVEN AS WE MOVE BEYOND A VERY ME MESSY FIRST QUARTER EARNINGS RESULT, THERE'S REASONS FOR CONCERN.

>> GIVEN THE STRUCTURAL RISKS YOU'RE SEEING, OBVIOUSLY THE PRICE WARS GOING ON, INCREASED COMPETITION, WHAT IS YOUR OUTLOOK FOR TESLA IN CHINA AT THIS POINT? >> YEAH, WE STRUGGLE TO FORECAST GROWTH THIS YEAR IN TERMS OF UNITS.

I WOULD SAY A HIGH-LEVEL BYD ENTERING THE MARKET, SAY, TWO YEARS AGO IN TERMS OF MEANINGFUL VOLUMES, THAT'S BEEN AN ISSUE FOR TESLA, IN TERMS OF TRADING DOWN. NOW THERE'S MUCH MORE COMPETITION DIRECTLY WITH THE MODEL 3 IN CHINA, BOTH FROM.

HUAWEI, THEY SOLD AS MANY AS TESLA DID IN THE FIRST QUARTER AT VERY SIMILAR PRICES. NOW, YOU REFERENCED THE ZHAOMI CAR, THE VEHICLE THAT JUST LAUNCHED IN CHINA, I THINK THAT'S A SERIOUS COMPETITIVE THREAT TO THE MODEL 3, AND OBVIOUSLY LOOKING BEYOND THIS.

QUARTER, THIS YEAR, IT WILL NOT SHOP WITH A MODEL 3 COMPETITOR. THEY VIEW THIS MARKET AS TANGENTIAL FOR THEM, WITH THE CONSUMER PRODUCTS BUSINESS. IT'S TOUGHER COMPETITIVE, I THINK, FOR TESLA. >> IF WE FIND OURSELVES IN AN EV WINTER — I'M USING THE ANALOGY.

OF WHAT A LOT OF CRYPTO PEOPLE THINK ABOUT AS WELL, DOES THAT MEAN WE SPENDURTHER TO BUILD OUT WHAT IS GOING TO BE THE FUTURE 5, 10 YEARS FROM NOW? I'M THINKING SPECIFICALLY ABOUT THE FACTORY IN INDIA THAT TESLA IS THINKING ABOUT, AND PARENT KICKING TIRES ON WHERE THEY.

COULD POTENTIALLY BREAK GROUND THERE. IS THIS A NEW ERA OF INVESTMENT THEY INITIATE TO GET AHEAD OF THE NEXT CYCLE OF DEMAND? >> IT'S A GOOD QUESTION. I THINK TESLA A LITTLE SURPRISED BY THE FACTORY RUMORS, FOR LACK OF A BETTER TERM.

ONCE THE GIG IN MEXICO IS BUILT, TESLA'S SUPPLY IS ALREADY OUTPACING DEMAND. I'M NOT REALLY SURE WHY TESLA WOULD NEED ANOTHER FACTORY. I GUESS IF THIS IS VERY LONG TERM, THAT MAKES SENSE, BUT I WOULD BE PERSONALLY SURPRISED BY ANYTHING IN THE NEAR TERM ABOUT.

A FACTORY IN INDIA BECOMING MORE CONCRETE. >> WHAT'S IT GOING TO TAKE FOR THE PENDULUM TO SWING BACK FOR TESLA AND THE OTHER EV MAKERS? >> THE BIGGEST RISK, UPSIDE RISK IS THE TRIAL THAT TESLA HAS ANNOUNCED. I THINK THERE'S THE POTENTIAL.

FOR NARRATIVES TO RUN AWAY FROM THEMSELVES, TO GET AWAY FROM THEMSELVES, AND TO HAVE VO VOLUMES — TO EXPAND POST THE TRIAL PERIOD. WHAT WE HAVE MESSAGED IS, EVEN IF RATES DO EXPAND FOR FSD, IT'S LIKELY TO BE MODEST. HIS TURKEYLY CONNECTED SERVICES.

IN AUTOMOTIVES DO NOT NECESSARILY SELL VERY WELL. IF WE WERE TO TAKE THEM AT THEIR WORD FOR THAT, THAT IS THE PRIMARY BOTTLENECK, ADDING $200 EVERY MONTH FOR A VEHICLE WOULD SEEM PROHIBITIVE. I DON'T THINK WE'LL SEE MEANINGFUL RATES FOR THAT NEAR.

TERM. >> THANK YOU JOINING US. RONALD, THANKS SO MUCH. >>> KEEP IT RIGHT HERE ON YAHOO FINANCE. MUCH MORE OF YOUR MARKET ACTION AHEAD. WE'LL BE RIGHT BACK. >>> HOUSING PLAYING AN OUTROLE.

IN THE CHALLENGE TO BRING DOWN INFLATION. WE'VE SEEN THE GAP, AND HERE TO EXPLAIN IT MYLES UDLAND. YOU WROTE ABOUT THIS EARLIER IN THE WEEK. TALK TO US ABOUT THE DISCREPANCY THAT WE'RE SEEING, THAT HOUSING IS NOW PLAYING IN THE FED'S.

FI FIGHT. >> ONE PERCENTAGE POINT IS THE GAP RIGHT NOW. HISTORICALLY IT'S BEEN ABOUT 0.3%. EVERYBODY KNOWS HOUSING COSTS ARE A BIG DRIVER OF INFLATION OVERALL.

IT WAS CALLED OUT IN THE LAST REPORT THAT HOUSING COSTS WERE OVER TWO THIRDS OF THE ANNUAL INCREASE IN ANNUAL CPI, AND THAT'S A PROBLEM FOR THE FED, WHERE CORE PCI IS ALMOST DOUBLE THEIR TARGET. CORE PCE IS RUNNING AT 2.8%, ABOVE THE 2% TARGET, BUT CLOSER,.

AND IF WE SAW THE CHART WHERE WE SAW THE SHARE OF HOWS PLAYING, OF COURSE CPI IS HOUSING COSTS. >> WHILE THE FED CARES ABOUT PCE, AND SAYS IT'S FOCUSED ON THAT, IT MARKETS THE ARGUMENT FOR NEEDING TO CUT RATES WITH CPI STILL AT 3.8%, EVEN WHEN TRIMMED DOWN FOR THE FED'S.

PREFERRED WAY TO LOOK AT IT. HOUSING COSTS, IT'S KIND OF LAGGING, YADA YADA THAT'S STILL GOING HIGHER, AND THIS ENTIRE HOUSING PICTURE, WHAT LEVERS CAN THEY REALLY PULL TO INFLUENCE IT IN THE NEAR TERM? JEROME POWELL WAS SPECIFICALLY ASKED AND SAID WE DON'T TARGET.

ANYTHING LIKE THIS, SO THE FED WANTS TO WALK THIS VERY NARROW PATH OF IT HAS A DUAL MANDATE TO LOOK AT INFLATION THEY WILL SEPTEMBER THAT IT'S NOT SOMETHING THAT ■WE KNOW WE CAN CONTROL. THEY OBVIOUSLY MONITOR IT. IT'S NOT NECESSARILY GOING TO BE.

A MOTIVATOR OF POWELL. IT'S NOT JUST HOUSING, RIGHT? SHOWING THAT INFLATION — THEY'RE BATTLING A LOT OF THAT. >> THE PROBLEM WITH INFLATION — BRAD REFERENCED IT, RIGHT? WE'RE ON A HUGE LAG FOR APARTMENT RENTS — EVERYBODY HAS BEEN WADING FOR THEM TO BRING IT.

DOWN. IN THE INTERIM PERIOD, THE ECONOMY HAS ACCELERATED. WHILE HOUSING COMES TO WHERE YOU WANT IT TO BE FOR THE MED TO MEET ITS GOAL, IT REACCELERATE, GOOD FOR GROWTH. PEOPLE ARE HAPPY WITH THAT, BUT ALL THE WAY BACK TO 2%, IT'S A.

MAJOR HURDLE. >> MYLES, ALWAYS GREAT TO HAVE YOU ON SET. THANK YOU SO MUCH. >>> BRAD, TIME FOR YOU TO GO. TELL US WHAT'S COMING UP? >> OF COURSE, TODAY, WHICH CAMERA? TODAY IS ALL ABOUT PROTECTING.

YOUR CAMERAS. AND WITH BOTH THE MEN'S AND WOMEN'S FINAL FOURS COMING UP THIS WEEKEND, WE'LL GIVE OUT SOME TIPS ON HOW YOU HAVE TO FUN WITH SPORTS BETTING WITHOUT BURNING A HOLE IN YOUR WALLET. >>> WHEN WE COME BACK, MADISON MILLS WILL BE JOINING ME AT THE.

DESK. WE'LL HAVE THE LATEST FROM FED CHAIR JAY POWELL FOLLOWING HIS COMMENTS FROM YESTERDAY. >>> DAN HOWLEY WILL SPEAK WITH AN AMAZON EXECUTIVE ABOUT THEIR NEWEST INVESTMENTS. DON'T GO ANYWHERE. >>> WELCOME BACK TO YAHOO!.

FINANCE, I'M SEANA SMITH ALONGSIDE MADISON MILLS. WE'RE JUST ABOUT 30 MINUTES INTO THE TRADING DAY. WE CERTAINLY HAVE A BUSY HOUR AHEAD OF US. LET'S TAKE A LOOK AT THE MARKETS, AND WHERE WE ARE RIGHT NOW.

WE'RE SEEING GREEN ACROSS THE SCREEN, STILL WITH THE DOW UP JUST AROUND 156 POINTS, SO OFF THE HIGHS THAT WE SAW SHORTLY AFTER THE OPEN HERE ON THE SESSION, WE GOT THE S&P UP JUST ABOUT 0.7%. THE NASDAQ, UP NEARLY 1%, AND A LOT OF THAT, MADDIE, WHAT'S.

DRIVING THE MARKETS HERE, IS SOME OF THE OPTIMISM THAT WE'VE SEEN SURROUNDING THE JOBLESS CLAIMS REPORT THAT CAME IN HIGHER THAN EXPECTED, AND I SAY OPTIMISM, AT LEAST THE MARKET IS LOOKING AT IT AS OPTIMISM HERE AT THIS POINT, ENOUGH HERE TO CARRY YESTERDAY'S MOMENTUM INTO.

TODAY. >> YEAH, IT'S INTERESTING TO SEE THAT NOT ONLY WERE THE JOBLESS CLAIMS UP, BUT WE ALSO SAW A REVISION OF LAST WEEK'S NUMBERS UP AS WELL, SO AN INDICATION WE MIGHT START TO SEE SOME CRACKS IN THE LABOR MARKET COMING IN HERE, BUT CONTINUING CLAIMS WERE.

REVISED DOWN, SO THAT'S ALSO SOMETHING TO BE MONITORING. I'M EXCITED TO TALK TO OUR GUEST ABOUT WHICH OF THOSE TWO DATA POINTS HE'S GOING TO BE LOOKING AT. WE HAVE HERE PHILADELPHIA FED PRESIDENT PATRICK HARKER, EARLIER, TALKING ABOUT WHAT'S.

GOING ON WHEN IT COME TO THE RATE-HIKING CYCLE AND WHAT THE FED SPEAK IS GOING TO BE LOOKING LIKE, BECAUSE WE HAVE A LOT OF FED SPEAK HAPPENING THROUGHOUT THE DAY. WE'RE GOING TO TALK WITH VINCENT REINHART, DREYFUS AND MELLON CHIEF ECONOMIST.

VINCENT, A LOT OF DATA COMING OUT OVER THE PAST COUPLE OF HOURS AND THROUGHOUT THE WEEK. I WAS TALKING ABOUT THE BIFURCATION WE'RE SEEING IN CONTINUING CLAIMS VERSUS INITIAL JOBLESS CLAIMS THIS MORNING. HOW MUCH WEIGHT DO YOU PUT INTO THE DIFFERENCE THAT WE'RE SEEING.

IN THOSE TWO NUMBERS? >> ACTUALLY, THE IMPORTANT PART OF THE CLAIMS DATA IS THE SURVEY WEEK. YOU WANT TO GET THE SAME SURVEY WEEK AS THE EMPLOYMENT REPORT BECAUSE THAT'S THE BEST READING ON WHAT THE MONTHLY NUMBER WILL BE.

THE OTHER THING IS, IN BOTH THEORIES, THE BEST LINE IS THE SECOND ONE. THESE ARE NOISY DATA. YOU DON'T WANT TO RESPOND TO ONE WEEK'S BLIP. SO, SOME SMOOTHING, TAKING A FOUR-WEEK AVERAGE IS A LITTLE MORE CALLED FOR.

>> WHAT DO YOU THINK THE FED IS MOST LIKELY TO DO AT THIS POINT? THERE'S STILL OPTIMISM WE WILL GET THAT JUNE RATE CUT. WHAT DOES THAT TELL US IF WE DON'T GET IT, THE RISING RISK OF RECESSION? >> IT'S A COUPLE POINTS, AND THAT'S EXACTLY THE WAY THE FED'S.

GOT TO FRAME IT. IT'S BALANCING OF RISKS AS THE CHAIR REPEATED IN HIS PRESS CONFERENCE, AND AT STANFORD YESTERDAY. IF THEY GO TOO LATE, THEY RISK A MATERIAL SLOWING IN ACTIVITY THAT'S UNNECESSARY. ON THE OTHER HAND, IF THEY GO.

TOO SOON IN EASING, THEY MAY NOT GET AS MUCH DISINFLATION. GETTING INFLATION BACK TO THEIR 2% GOAL. THAT'S THE BALANCING OF RISK. I THINK THEY VIEW THAT FORMER RISK, THE ONE YOU STATED ABOUT RECESSION, AS LOWER BECAUSE ECONOMIC ACTIVITY HAS STRONG.

HOME. THOSE CLAIMS DATA ARE STILL ON THE LOW SIDE OF HISTORICAL EXPERIENCE, AND WE'RE DEBATING NOW ABOUT AN EMPLOYMENT REPORT WHERE MONTHLY GAINS WILL BE PLUS OR MINUS 200,000. THAT'S STILL DOUBLE THE RUN RATE THAT KEEPS RESOURCE USE.

UNCHANGED. THE ECONOMY'S GOT SOME MOMENTUM. THAT'S NOT THE NEAR-TERM WORRY. MAYBE IT SHOULD BE. BUT IT'S NOT THERE. IT'S NOT MINE FOR NOW. >> WELL, SEANA BROUGHT UP A GREAT POINT ABOUT THE POTENTIAL OF A RECESSION, AND IT MAKES ME.

THINK ABOUT THE POTENTIAL FOR MAYBE A K-SHAPED RECOVERY BECAUSE WE SAW IN THE ADP THAT JOB-SWITCHERS ARE GETTING 10% WAGE GAINS. TO WHAT EXTENT DO YOU THINK THAT THE FEDERAL RESERVE IS CONCERNED ABOUT ONE GROUP GETTING A LOT BETTER AND ANOTHER GROUP GETTING.

A LOT WORSE OUTCOMES WHEN IT COMES TO THEIR PERSONAL ECONOMIES? >> SO, IN THAT REGARD, CHAIR POWELL'S NEXT TO LAST PARAGRAPH OF EVERY SPEECH OR HIS OPENING STATEMENT OF THE FOMC, ANSWERS THAT QUESTION, AND THAT IS, THE FEDERAL RESERVE CARES ABOUT.

OUTCOMES FOR THE AMERICAN PEOPLE. THEY APPRECIATE THAT ITS POLICY TOOLS HAVE AN UNEVEN ACCESS AND EVEN UNEVEN CONSEQUENCE FOR PEOPLE. THAT'S A PROBLEM. BUT I THINK YOU GO ON THERE FROM, SAYING IT'S NOT A HECK OF.

A LOT THE FEDERAL RESERVE CAN DO. IT DOESN'T HAVE MUCH INFLUENCE ON DISTRIBUTIONAL POLICIES. THAT'S A MATTER FOR LEGISLATURES AND THE EXECUTIVE BRANCH. IS THE FED CONCERNED ABOUT AN UNEVEN EXPANSION AND POSSIBLY AN UNEVEN DOWNTURN?.

SURE. IS IT CONCERNED ABOUT THE UNEVEN DISTRIBUTION OF WAGE GAINS? YES. IT SHOULD ALSO BE CONCERNED ABOUT THE UNEVEN DISTRIBUTION OF WEALTH GAINS. THE RUN-UP IN EQUITY PRICES IS REALLY ONLY BENEFITTING THE TOP.

SLIVER OF THE AMERICAN POPULATION, AND THEREFORE, MAY NOT DISTRIBUTE THROUGHOUT THE WHOLE ECONOMY TO PROVIDE SUPPORT TO SPENDING. THOSE ARE ALL CONCERNS. HOWEVER, THEY AREN'T CONCERNS THAT SHIFT FROM DAY-TO-DAY OR MONTH TO MONTH OR QUARTER TO.

QUARTER. THEY'RE IN THE BACKGROUND FOR MACRO FORECASTING, AND THE MACRO FORECAST OF THE FED RIGHT NOW IS THE ECONOMY RETAINS CONSIDERABLE MOMENTUM. RESOURCES ARE STRETCHED. AND INFLATION IS STUBBORN ON THE WAY DOWN.

>> VINCENT, WHAT DO YOU THINK THAT LAST MILE IN TERMS OF TAMING INFLATION, IT'S GOING TO BE TOUGH. WE WERE JUST TALKING TO OUR HEAD OF NEWS, MYLES UDLAND, LAST HOUR, JUST ABOUT THE FACT HAS A HOUSING ISSUE WHEN IT COMES TO INFLATION AND TRYING TO GET.

INFLATION MEASURES BACK TO THAT 2% TARGET. HOW BUMPY IS THIS LAST MILE IN TAMING INFLATION GOING TO BE? >> OH, SURE, EXACTLY RIGHT TO TALK ABOUT HOUSING, BUT YOU COULD BROADEN IT A LITTLE TO THE SERVICE COMPONENT. 70% OF THE ASSUMPTION BASKET IS.

IN SERVICES, AND THOSE SERVICE PRICES ARE MUCH SLOWER TO ADJUST RELATIVE TO GOODS PRICES. BASICALLY, WHAT HAPPENED, THE SHORT STORY OF THE LAST FIVE YEARS IS, WE CREATED A LOT OF EXCESS DEMAND FOR GOODS. GOODS PRICED WENT WAY UP BECAUSE THEY CAN ADJUST QUICKLY.

SERVICE PRICES ARE SLOWLY TRYING TO CATCH UP TO WHERE GOODS PRICES NOW ARE. AND THAT'S WHAT MAKES THE LAST MILE IN REDUCING INFLATION SO HARD. AND WHAT PARTICULARLY CONCERNS ME IS THE BENEFIT FROM DISINFLATION, THE RELATIVELY.

EASY DISINFLATION WE GOT LAST YEAR WAS BECAUSE GOODS PRICES STOPPED RISING. THEY JUST BASICALLY MOVED SIDEWAYS TO A LITTLE BIT DOWN. BECAUSE THEY MADE THE ADJUSTMENT ALREADY, AND THAT MEANT THEY WERE NOT ONLY CONTRIBUTING TO INFLATION BUT PULLING IT TOWN IN.

THE LAST PART OF 2023. NOT GOING TO HAPPEN THIS YEAR, GIVEN ALL THE SUPPLY CHAIN DISRUPTIONS, GIVEN THAT WE LIVE IN A RISKY WORLD, GIVEN WE LIVE IN A WORLD WHERE THERE'S A LOT OF DISRUPTION TO INFRASTRUCTURE, GOODS PRICES COULD BE TURNED BACK UP, AND THAT MEANS THAT.

SERVICE PRICES WILL STILL BE RISING SLUGGISHLY, AND GOODS PRICES WILL NO LONGER BE CONTRIBUTING TO SLOWING INFLATION. THEY'LL BE PUSHING INFLATION THE OTHER WAY. SO, RIGHT TO BE WORRIED ABOUT INFLATION.

>> VINCENT REINHART, THANK YOU SO MUCH FOR JOINING US THIS MORNING, DREYFUS AND MELLON'S CHIEF ECONOMIST. ALSO A FORMER FED ECONOMIST. THANKS, VINCENT. >>> WELL, STOCKS ARE CLIMBING HIGHER THIS MORNING, SNAPPING THE LOSSES THAT WE SAW TO KICK.

OFF THE SECOND QUARTER. THE S&P 500 HAD ITS BEST START TO THE YEAR FOR THE FIRST QUARTER SINCE 2019. UP ALMOST 10% SINCE JANUARY 1st. MEANWHILE, THERE'S TWO LARGE COMPANIES, APPLE AND TESLA, THAT HAVE LAGGED FAR BEHIND. TO HELP US BREAK DOWN WHAT WENT.

WRONG WITH THESE TWO COMPANIES AND WHAT THAT TELLS US HERE ABOUT WHAT'S TO COME IN THE COMING QUARTER, WE'VE GOT TEAM COVERAGE FOR YOU. PRAS SUBRAMANIAN, DAN HOWLEY HERE TO BREAK IT DOWN. >> WE FOCUSED A LOT OF TESLA THIS WEEK WITH THE EV COMPANY.

MISSING Q1 DELIVERIES BY ABOUT 46,000 VEHICLES. AND 8.5% DROP FROM LAST YEAR. BUT TESLA'S PROBLEMS DIDN'T JUST BEGIN THIS WEEK. SO FAR, THE STOCK IS DOWN 30% WITH INTEREST RATES REMAINING HIGH. MANY CONSUMERS ARE OPTING NOT TO.

PURCHASE BIG-TICKET ITEMS, ESPECIALLY WITH THE COMPANY SLOW TO SPRUCE UP THEIR AGING MODELS. ADDING IN COMPETITORS LIKE CHINA PUTTING OUT CHEAPER MODELS, AND YOU CAN SEE WHY DELIVERIES ARE DOWN GLOBALLY. MANY INVESTORS HAVE FOUND ELON MUSK'S ATTITUDE AND STATEMENTS.

TO BE VOLATILE. IN A — NOW, INVESTORS LOOKING TO THAT FIRST QUARTER REPORT IN APRIL 23rd FOR SOME SIGNS OF UPSIDE. DAN, I KNOW YOU'VE BEEN WATCHING APPLE. WHAT'S GOING ON OVER THERE WITH THEM AIN CUPERTINO?.

>> IT HAS NOT BEEN A GREAT 2024 FOR APPLE STOCK SO FAR, DOWN ALMOST 12% FROM THE BEGINNING OF THE YEAR. THERE'S BEEN A FEW FACTORS THAT HAVE CAUSED THIS. IT ALL STARTED AT THE BEGINNING OF THE YEAR WHEN THREE BIG STOCK DOWNGRADES KICKED EVERYTHING.

OFF, BARCLAY'S PIPER SANDLER AND THEN RED BIRD ATLANTIC ALL CUTTING THE COMPANY WITHIN THE FIRST TEN DAYS OF 2024 ON FEARS OF SLOWING iPHONE SALES AND THE POTENTIAL FOR REGULATORY HEADWINDS. WE'LL GET THERE IN JUST ONE SECOND.

THEN, JUST OVER A WEEK LATE, THE TECH GIANT WAS FORCED TO SELL A MODIFIED VERSION OF ITS LATEST APPLE WATCHES BECAUSE OF A PATENT DISPUTE OVER THAT BLOOD OXYGEN SENSOR. APPLE KICKED OFF FEBRUARY WITH DISAPPOINTING FIRST QUARTER RESULTS WITH SALES IN CHINA DOWN.

13% COMPARED TO THE YEAR PRIOR, AND FORECASTING A 5% DROP IN REVENUE FOR ITS UPCOMING SECOND QUARTER. BY THE END OF FEBRUARY, BLOOMBERG REPORTED THAT APPLE DITCHED ITS EV PROJECT THAT HAD BEEN SPECULATING FOR TEN YEARS. SO, SAYONARA TO THAT.

IN MARCH, ON THE 4th, THE EU SLAPPED APPLE WITH A $2 BILLION FINE OVER ITS APP STORE PRACTICES, AND THEN ON MARCH 21st, APPLE GOT HIT WITH AN ANTITRUST SUIT FROM THE DEPARTMENT OF JUSTICE, ALLEGING THE TECH GIANT MONOPOLIZED THE SMARTPHONE MARKET.

NOW, WE'RE GETTING REPORTS THAT APPLE IS EXPLORING HOME ROBOT TECHNOLOGY. INVESTORS WILL BE LOOKING OUT TO SEE HOW THE COMPANY IS LOOKING TO INNOVATE. >> THANK YOU SO MUCH FOR THAT, DAN. REALLY APPRECIATE THAT.

BREAKDOWN, AND THANKS SO MUCH, PRAS, AS WELL. >>> WE'RE GOING HAVE ALL YOUR MARKETS ACTION AHEAD. STAY TUNED FOR MORE. YOU'RE WATCHING YAHOO! FINANCE. >>> STOCKS ARE COMING BACK TO LIFE THIS MORNING AFTER A ROUGH START TO THE SECOND QUARTER.

EARLY THIS WEEK WITH SOME ECONOMIC DATA CAUSING INVESTORS TO DOUBT THEIR RATE CUT VIEWS. FED CHAIR JAY POWELL REVERSING SOME OF THESE JITTERS AFTER HE SAID ON WEDNESDAY THAT HE BELIEVES INFLATION IS ON A “BUMPY PATH” DOWN TO 2%, AND HE EXPECTS TO LOWER RATES.

AT “SOME POINT THIS YEAR.” LOTS OF COMMENTARY FROM JAY POWELL THERE. WITH EARNINGS SEASON PICKING UP NEXT WEEK, COULD WE EXPECT COMPANY REPORTS TO SWAY MARKET ACTION ONCE AGAIN? JOINING US TO DISCUSS, WE HAVE DAVID, JPMORGAN ASSET MANAGEMENT.

GLOBAL MARKET STRATEGIST AND MANAGING DIRECTOR. DAVID, THANK YOU FOR BEING HERE. I'M CURIOUS, WITH THE UPCOMING RESTART TO EARNINGS SEASON, WHAT YOU'RE THINKING ABOUT WHAT'S GOING TO BE DRIVING THE MARKET MORE THROUGHOUT THIS SECOND QUARTER HERE.

IS IT GOING TO BE FED SPEAK LIKE JAY POWELL REPEATING THE BUMPY ROAD COMMENTARY? OR IS IT GOING TO BE THE FUNDAMENTALS WHEN IT COMES TO EARNINGS SEASON? >> SO, I FRANKLY THINK IT'S GOING TO BE A LITTLE BIT OF BOTH, AND WE HAVE THE EMPLOYMENT.

REPORT COMING OUT THIS FRIDAY. WE HAVE MARCH INFLATION COMING OUT NEXT WEEK. I THINK THAT'S GOING TO INFORM FED SPEAK AND FED MESSAGING IN THE VERY SHORT TO MEDIUM TERM. I DO THINK, THOUGH, THAT GIVEN IF THOSE NUMBERS ARE IN LINE WITH WHAT WE'VE SEEN MORE.

BROADLY OVER THE PAST 12 MONTHS, SO A DEVIATION FROM THE HOTTER INFLATION PRINTS AND THE ROBUST LABOR PRINTS THAT WE SAW IN THE FIRST TWO MONTHS OF THIS YEAR, IF THAT GETS US A LITTLE MORE BACK ON TRACK FROM AN ECONOMIC PERSPECTIVE, I THINK THE FED WILL SIGNAL THAT, AND I THINK.

FED SPEAK WILL SUBSEQUENTLY TAKE A BACKSEAT TO THE EARNINGS, WHICH, WHEN WE THINK ABOUT WHERE EQUITY MARKETS ARE TODAY, THEY'VE GONE QUITE FAR QUITE QUICKLY. IS MAJORITY OF THE GAINS HAVE, IN FACT, BEEN DRIVEN BY MULTIPLE EXPANSION, AND SO ANY FURTHER.

UPSIDE HERE IS REALLY GOING TO BE A FUNCTION OF EARNINGS AND IF THE FED KEEPS ON SAYING WHAT THEY HAVE BEEN SAYING, WE THINK THAT EARNINGS WILL START TO MATTER A BIT MORE. >> WHAT DOES THAT UPSIDE LOOK LIKE, DO YOU THINK, DAVID? >> WELL, SO, I THINK IT DEPENDS.

ON THE WAY THAT THE MACRO STORY PLAYS OUT. IF WE FIND OURSELVES IN AN ENVIRONMENT THAT LOOKS KIND OF GOLDILOCKS-Y, SO PRETTY SOLID GROWTH, ABOVE TREND GROWTH, BUT INFLATION THAT CONTINUES TO DECELERATE, THE S&P 500 COULD EASILY TEST 5,500.

IF WE SEE DECELERATION IN GROWTH AND A FURTHER DISINFLATION, I THINK THAT'S GOING TO MAKE UPSIDE FOR THE S&P A LITTLE BIT MORE CHALLENGING. IT'S IMPORTANT TO REMEMBER THAT CORPORATE PROFITS ARE NOMINAL VARIABLES, AND SO IF NOMINAL GROWTH IS GOOD, THAT SHOULD HELP.

THE EARNINGS STORY, BUT IF WE SEE A SLOWING IN NOMINAL GROWTH, EITHER VIS-A-VIS SOFTER REAL ACTIVITY OR FURTHER D DISINFLATIONS, THAT'S GOING TO WEIGH ON THE PROFIT STORY AND CAP WHERE THE BENCHMARK CAN GO. >> I WONDER WHAT YOUR THOUGHTS ARE IN TERMS OF WHAT WE'RE.

SEEING IN MOVEMENT IN BONDS. IS THE BOND MARKET THE SMARTER, OLDER SIGNAL HERE AND IS THERE A SIGNAL HAPPENING THERE THAT EQUITIES NEED TO BE LISTENING TO, OR IS IT JUST NOISE? >> I THINK THE BOND MARKET IS THE YOUNGER SIBLING THAT CONTINUES TO THROW TANTRUMS.

IF YOU LOOK AT IMPLIED VOLATILITY FOR THE BOND MARKET, IT'S STILL QUITE ELEVATED, PARTICULARLY RELATIVE TO WHAT WE'RE SEEING IN EQUITIES, AND WHAT THAT REALLY REFLECTS, AT THE END OF THE DAY, IS JUST THIS UNCERTAINTY, THIS PERSISTENT UNCERTAINTY ABOUT WHAT'S.

HAPPENING WITH INFLATION AND WHAT THAT'S GOING TO MEAN FOR THE FEDERAL RESERVE. AND SO, IF WE GET A SIGNAL ON INFLATION NEXT WEEK THAT THINGS ARE KIND OF BACK ON TRACK, AND WE HEAR FROM THE FED THAT THEY ARE STILL EXPECTING TO EASE POLICY THREE TIMES THIS YEAR, MY.

VIEW IS THAT WILL BRING BOND VOLATILITY LOWER, AND BONDS WILL BEGIN TO BEHAVE A LITTLE BIT MORE LIKE THEY HAVE HISTORICALLY INSTEAD OF THE KIND OF TWITCHY BOND MARKET THAT WE HAVE BEEN DEALING WITH FOR THE BETTER PART OF THE PAST 18 MONTHS. >> DAVID, WHAT'S YOUR BASE CASE.

ON CUTS? >> I THINK TWO TO THREE CUTS THIS YEAR IS REASONABLE. I THINK IF THE DATA PLAYS OUT THE WAY THE FED IS EXPECTING IT TO, WHICH, AGAIN, GIVEN THEIR MOST RECENT SET OF FORECASTS, DOES NOT GET US TO 2% BY THE END OF THIS YEAR, I THINK THEY WILL.

CUT RATES THREE TIMES. IF THE DATA DOESN'T COOPERATE, IT COULD END UP BEING MORE LIKE TWO. BUT I THINK THAT THIS IS A FED THAT WANTS TO CUT RATES. THEY'VE SAID THAT THEY WANT TO CUT RATES, AND IT'S REALLY GOING TO TAKE A SIGNIFICANT FLY IN THE.

OINTMENT FOR THEM TO DEVIATE FROM THAT APPROACH. >> LET'S GO WITH THAT LESS LIKELY SCENARIO, THOUGH, THAT YOU JUST LAID OUT. IF WE ONLY GET TWO CUTS FOR THE YEAR BEFORE YEAR-END, WHAT'S THE RESPONSE GOING TO LOOK LIKE IN THE EQUITY MARKET?.

WILL WE SEE MORE PRESSURE? >> I DON'T THINK THAT THE EQUITY MARKET NECESSARILY CARES ABOUT WHEN THE CUTS COME. I THINK THAT THE EQUITY MARKET CARES ABOUT THE FACT THAT THE CUTS ARE COMING. IF THE FED SIGNALS THAT, HEY, WE'RE GOING TO WAIT A LITTLE BIT.

LONGER AND THAT'S ONLY GOING TO GIVE US THE ROOM TO CUT POLICY OR EASE POLICY TWO TIMES THIS YEAR, BUT WE THINK THAT WE WILL CONTINUE TO EASE AS WE MOVE INTO 2025, I THINK THE EQUITY MARKET WILL BE TOTALLY FINE WITH THAT. I MEAN, IMPORTANT TO RECOGNIZE THAT IN THE MOST RECENT SUMMARY.

OF ECONOMIC PROJECTIONS, THE WAY THAT THE FED WAS A LITTLE BIT HAWKISH WAS THEY ACTUALLY TOOK A RATE CUT OUT OF THE THEIR FORECAST FOR NEXT YEAR, AND THAT DIDN'T REALLY SEEM TO BOTHER THE MARKETS IN A SIGNIFICANT WAY. I THINK THE REALITY HERE IS THAT 5.25% TO 5.25% ON FED FUNDS IS.

INDEED RESTRICTIVE, AND WHAT THE MARKET WANTS TO SEE IS A FED THAT'S WILLING TO WALK THAT BACK A LITTLE BIT AND TRY TO LAND ON A MORE NEUTRAL RATE OF INTEREST. >> DAVID, HELP US OUT FOR NONFARM PAYROLLS TOMORROW. WHAT DO YOU THINK IS BETTER NEWS FOR THE MARKET, A BIGGER NUMBER.

OR A WEAKER NUMBER IN TERMS OF WHAT THAT DOES FOR THE FEDERAL RESERVE'S MOVES? >> SO, WE'RE FOCUSED MORE ON THE FIRST DERIVATIVE AS OPPOSED TO THE HEADLINE FIGURES. OUR EXPECTATION IS GENERALLY ALIGNED WITH CONSENSUS. I THINK WE'LL SEE ABOUT 200,000.

OR 215,000 JOBS. I THINK THE UNEMPLOYMENT RATE COULD INDEED EDGE SLIGHTLY LOWER, MAYBE NOT ALL THE WAY BACK TO 3.7% BUT SPLITTING THE DIFFERENCE AT 3.8%. WE'RE GOING TO BE WATCHING THINGS LIKE THE DATA ON WAGES, THE DATA ON TEMPORARY HELP.

SERVICES. KIND OF THESE INDICATORS THAT GIVE YOU A BETTER SENSE OF HOW MUCH PRESSURE IS THERE IN THE LABOR MARKET, RIGHT? IS WAGE GROWTH CONTINUING TO COOL? IS TEMPORARY HIRING CONTINUING TO DECELERATE?.

THAT'S GOING TO GIVE US A LOT OF CONVICTION IF THAT'S, IN FACT, HOW THINGS PLAY OUT. THAT'S GOING TO GIVE US A LOT OF CONVICTION THAT THE LABOR MARKET IS COOLING, THE PATH FOR INFLATION IS, IN FACT, LOWER, AND WE CAN CONTINUE TO EXPECT THE FED TO EASE POLICY DURING.

THE BACK HALF OF THE YEAR. SO, LESS FOCUSED ON THE UNEMPLOYMENT RATE AND THE PAYROLL FIGURE THEMSELVES, MORE FOCUSED ON THINGS LIKE WAGES. >> DAVID LEBOVITZ, JPMORGAN ASSET MANAGEMENT MANAGING DIRECTOR OF GLOBAL MARKET STRATEGIST.

THANK YOU SO MUCH. >> THANK YOU. >>> WELL, GOOD NEWS FOR WAYFAIR THIS MORNING AS EVERCORE ISI UPGRADED THE HOME RETAILER TO OUTPERFORM FROM IN LINE. THEY RAISED THEIR PRICE TARGET TO 80 BUCKS A SHARE. THE ANALYST TEAM THERE SAYING.

THAT THE HARDEST PART IS BEHIND WAYFAIR, THIS COMES AS THE COMPANY IS IMPLEMENTING SOME COST-CUTTING MEASURES THAT WE HAVE COVERED MANY TIMES AT YAHOO! FINANCE, ALSO HAS REVENUE HAS BEGUN TO GROW YET AGAIN. AT THE TOP OF THIS NOTE, WHAT STUCK OUT TO ME WAS THE FACT.

THAT THEY'RE UPGRADING BASED ON FUNDAMENTALS, AND THEY PUT IT PRETTY STRAIGHTFORWARD, SAYING, “WAYFAIR IS TRYING TO LOOK THE BEST IT HAS LOOKED IN ITS TENTH YEAR AS A PUBLIC COMPANY AND EVERCORE WANTS TO BE THERE FOR THE PARTY WHEN REVENUES ACCELERATE, SO THEY'RE.

GOING TO UPGRADE THE STOCK TO OUTPERFORM AT THIS RATE.” >> I LOVE THEY SAY THEY WANT TO BE THERE FOR THE PARTY. DON'T WE ALL? IT'S INTERESTING HOW THEY TALK ABOUT HOW A LOT OF THE OTHER HOME-RELATED STOCKS HAVE ALREADY PARTICIPATED IN A LITTLE BIT OF.

THE RECOVERY THAT WE'RE SEEING IN THE HOUSING MARKET. THEY'RE THERE'S NOT A LOT OF THAT UPSIDE PRICED INTO WAYFAIR STOCK, SO INDICATING IN TERMS OF THEIR PRICE TARGET A 23% UPSIDE TO THIS NAME. BUT WE HAVE TO WONDER WHETHER OR NOT WE'RE ACTUALLY GOING TO SEE.

THAT PLAY OUT, BECAUSE OF THIS BIFURCATED CONSUMER THAT WE CONTINUE TO SEE. ARE WE GOING TO START TO SEE MORE UPSIDE FOR THE MORE PRICEY HOME NAMES OUT THERE LIKE THE RESTORATION HARDWARES OF THE WORLD RATHER THAN WAYFAIR WHERE YOU HAVE THE CONSUMER THAT'S.

TRADING DOWN, MAYBE DOING THE DREW BARRYMORE LINE AT WALMART, WHICH I MAY OR MAY NOT BE PARTICIPATING IN. >> I HAVEN'T CHECKED OUT THAT LINE YET. THIS ALWAYS GOES BACK TO THE BASICS, WHEN IT COMES TO WHY THEY'RE A LITTLE BIT MORE.

CONSTRUCTIVE ON THIS NAME, WHY THEY'RE SEEING SOME FUNDAMENTAL IMPROVEMENT .WAYFAIR IS ALSO GOING BACK TO THE BASICS. THEY STARTED IN 2022, SO JUST AROUND TWO YEARS AGO, THEY BEGAN TO RETURN TO THE CORE, WHICH IS THE COUPLE OF DEFINING PRINCIPLES AS EVERCORE LAID OUT.

HERE WHEN IT COMES TO THE COST STRUCTURE, STRONG EXECUTION, ALSO EXCELLENT CUSTOMER SERVICE. WHAT HAD PAID OFF FOR WAYFAIR IN THE PAST, SO A RETURN TO THAT, A REFOCUS ON THE THREE PRINCIPLES IS ENOUGH FOR EVERCORE TO BE A BIT MORE BULLISH ON THIS NAME. >>> WE'RE GOING TO CONTINUE TO.

COVER NOT JUST THE WAYFAIR STOCKS OF THE WORLD BUT MUCH MORE OF YOUR MARKETS ACTION AHEAD. ST STAY TUNED FOR MORE. YOU'RE WATCHING YAHOO! FINANCE. >>> GOLD IS HITTING NEW HIGHS THIS MORNING.

INVESTORS LOOKING AT THE TRADE AS THEY DIGEST A HIGHER FOR LONGER INTEREST RATE ENVIRONMENT. SO, I'M GOING TO BREAK SOME OF THESE MOVES DOWN AT THE TOUCH HERE. INTERESTING TO SEE GOLD KIND OF COMING OFF OF ITS HIGHS FROM.

THIS MORNING, BUT IF WE TAKE A LOOK AT HOW IT'S BEEN PERFORMING RECENTLY, YOU SEE A LOT OF UPSIDE MOVEMENT. I'M GOING TO ACTUALLY ZOOM OUT A LITTLE BIT MORE AND LOOK AT IT OVER THE PAST MONTH HERE. YOU SEE JUST A LOT OF UPSIDE COMING IN FOR GOLD HERE AS.

INVESTORS ARE TAKING A LOOK AT KIND OF DIVERSIFICATION OF THIS AS AN ASSET CLASS. JUST WANT TO GO BACK TO GOLD HERE ON THE TOUCH. AND WE'RE STARTING TO SEE THAT GOLD IS SORT OF ACTING A LITTLE BIT MORE LIKE A SAFE HAVEN TRADE, MORE OF A RISK-ON.

ENVIRONMENT ASSET CLASS AS OPPOSED TO KIND OF A STORE OF VALUE, WHICH IS HOW GOLD HAS TRADITIONALLY BEEN PLAYED IN THE MARKET, SO INDICATIVE OF KIND OF TRADERS SORT OF LOOKING FOR SOME MORE DIVERSIFICATION IN THEIR PORTFOLIOS AS WE KIND OF SUSS OUT WHAT IS GOING ON WITH THE.

MACROENVIRONMENT AS THE FEDERAL RESERVE CONTINUES TO GO ALONG ITS RATE-CUTTING PATH, BUT WE HAVE CONFUSING DATA COMING IN, AND THAT MIGHT BE ONE OF THE POTENTIAL EXPLANATIONS FOR WHY WE DO CONTINUE TO SEE GOLD JUST ABSOLUTELY RIPPING ALONGSIDE SOME OTHER COMMODITIES, SEANA,.

IN THIS SPACE, AS WELL AS OIL, ABOUT TO HIT $90 A BARREL, AND IFRL UP ON THE DAY AS WELL. >> MADDIE, LET'S TALK ABOUT WHAT IS DRIVING SOME OF THAT MOMENTUM THAT YOU WERE JUST TALKING ABOUT WITHIN THE PRICE OF GOLD. FOR THAT, WE WANT TO BRING IN GEORGE MILLING STON, STATE.

STREET GLOBAL ADVISOR'S CHIEF GOLD STRATEGIST. GREAT TO TALK TO YOU AGAIN. WE SPOKE JUST ABOUT A MONTH AGO AND YOU WERE OUTLINING AS WE SEE THIS RUN-UP IN THE PRICE OF GOLD, EXPECTATIONS ARE CONTINUALLY CHANGING HERE IN TERMS OF WHAT THE FED IS GOING.

TO DO, THE IMPACT THAT IS ULTIMATELY GOING TO HAVE ON THE PRICE OF GOLD, SO I'M GOING TO ASK YOU A SIMILAR QUESTION TO WHAT I ASKED YOU ABOUT A MONTH AGO. DO YOU THINK WE'RE STILL GOING TO TREND TO THE UPSIDE HERE FROM THESE LEVELS?.

>> IT LOOKS LIKE THAT WAY. IF YOU LOOK AT THE HISTORY OF GOLD, THEN THIS IS EXACTLY THE KIND OF ENVIRONMENT IN WHICH GOLD HAS TENDED TO PERFORM VERY WELL. WE'VE GOT MACROECONOMIC ISSUES. THE STOCK MARKET OCCASIONALLY WOBBLING.

WE'RE NOT QUITE SURE WHEN JEROME POWELL IS GOING TO START CUTTING RATES, BUT HE IS CONFIDENT HE'S GOING TO CUT THIS YEAR. AND YOU'VE GOT A GEOPOLITICAL ENVIRONMENT THAT'S PRETTY COMBUSTIBLE, AND ALL OF THAT PUT TOGETHER IS EXACTLY THE KIND OF ENVIRONMENT IN WHICH I WOULD.

EXPECT GOLD TO DO EXACTLY WHAT IT'S DOING RIGHT NOW. >> HOW MUCH HIGHER DO YOU THINK IT COULD GO? >> A GOOD DEAL, I THINK. OUR BULLISH CASE, THE TEAM THAT I BROUGHT UP AT STATE STREET, WE PUT OUT OUR FORECAST IN DECEMBER.

OUR BULLISH CASE SUGGESTED GOLD COULD TRADE ANYWHERE BETWEEN $2,200 TO $2,400. IT'S STILL PRETTY EARLY IN THE YEAR. WE'RE VERY CONFIDENT. >> WHAT ARE YOU SEEING AS THE KIND OF AUDIENCE FOR GOLD RIGHT NOW?.

WHAT DOES THAT LOOK LIKE? DOES IT DIFFER FROM WHAT WE'VE SEEN? >> YOU'VE GOT A MIX, ALWAYS, IN GOLD. YOU'VE GOT THE LONG-TERM STRATEGIC ASSET ALLOCATION-TYPE PURCHASES. THAT HAS BEEN CONTINUING PRETTY.

STEADY ALL YEAR. AND THEN, FROM TIME TO TIME, GOLD DEVELOPS SOME MOMENTUM AS IT HAS DONE. YOU SHOWED THAT BRILLIANTLY ON THAT CHART. GOLD DEVELOPS SOME MOMENTUM, AND SO YOU BRING IN THE SPECULATIVE INTERESTS AS WELL.

THAT COMBINATION, LONG-TERM STRATEGIC ASSET ALLOCATION, PLUS TACTICAL BUYING, IS GOING TO PUSH THE PRICE HIGHER. >> WHEN YOU TALK ABOUT THE ACTION THAT YOU SEE IN GOLD, IT DOESN'T SOUND LIKE IT'S NECESSARILY SURPRISED YOU, GIVEN THE FORECAST THAT YOU CAME OUT.

WITH AT THE START OF THE YEAR, BUT WHEN YOU TALK ABOUT THE UNCERTAINTY SURROUNDING THE FED, COMPARING THAT TO THE RUN-UPS WE'VE SEEN IN GOLD PRICES IN THE PAST, HOW DOES WHAT WE'RE SEEING TODAY COMPARE TO PAST BULLISH SENTIMENTS FOR GOLD? >> I THINK THE REAL ISSUE IS.

WHAT'S GOING TO HAPPEN TO THE DOLLAR? IF INTEREST RATES ARE GOING TO COME DOWN, AND THAT'S WHAT JEROME POWELL KEEPS TELLING US, THEN THE DOLLAR IS GOING TO SOFTEN, AND WHEN THE DOLLAR SOFTENS, GOLD TENDS TO DO BETTER.

THAT'S THE WAY I'M LOOKING AT THINGS RIGHT NOW, WATCHING THE FED TO SEE WHAT THEY'RE GOING TO DO AND WHAT THEY'RE GOING TO DO IT. THAT'S ALMOST AS IMPORTANT AS WHAT THEY'RE GOING TO DO. >> WHAT DO YOU THINK? >> I THINK THEY'RE GOING TO CUT.

RATES PROBABLY BY THREE CUTS THIS YEAR. WHETHER THEY START IN JUNE OR NOT, I'M NOT SO CONFIDENT OF THAT. IT MAY WELL NOT BE UNTIL THE SECOND HALF OF THE YEAR. BUT I STILL THINK THAT THEY'RE ON TRACK FOR THAT.

INFLATION IS STILL WITH US. IT'S COME DOWN ON THE FED'S PREFERRED BENCHMARK, CORE PERSONAL CONSUMPTION EXPENDITURE HAS COME DOWN, BUT IT'S STILL 2.5, AND THEIR TARGET IS 2%. THAT LAST MILE IS ALWAYS THE HARDEST ONE TO DO. >> GEORGE, ARE YOU SEEING THAT.

OPPORTUNITY FOR INVESTORS? IS IT BUYING PHYSICAL GOLD? ARE THERE OTHER OPPORTUNITIES OUT THERE? IN TERMS OF WHAT WOULD DO BEST IN THIS TYPE OF ENVIRONMENT? >> I'M A GREAT BELIEVER IN LIQUIDITY, AND I THINK THAT GOLD ETFs HAVE SHOWN A TREMENDOUS.

AMOUNT OF LIQUIDITY SINCE WE LAUNCHED THE FIRST ONE 20 YEARS AGO THIS NOVEMBER. WE'LL BE CELEBRATING THAT IN NOVEMBER. SO, I THINK THAT GOLD TEETFs AR PROBABLY THE BEST WAY FOR PEOPLE TO GO, BUT THERE'S NO ONE WAY FOR ALL INVESTORS.

>> ONE FINAL QUESTION ON THAT. WHAT IS THE BEST WAY FOR INVESTORS TO BE USING GOLD AS AN INVESTMENT? WHAT'S THE MOST EFFECTIVE? >> ALL OF THE ABOVE. WHAT I LIKE TO SAY IS THAT THE PROMISE OF GOLD HISTORICALLY FOR INVESTORS IS THAT THE DUAL.

NATURE THAT OVER TIME, IT CAN ENHANCE PERFORMANCE, AND IT CAN ALWAYS REDUCE RISK. AND IF ANYTHING'S GIVING ME PROTECTION PLUS PERFORMANCE, THAT'S AN ASSET I WANT IN MY PORTFOLIO. >> REALLY HELPFUL. THANK YOU SO MUCH.

REALLY APPRECIATE YOU JOINING US. THAT WAS GEORGE MILLING-STANLEY, STATE STREET GLOBAL CHIEF — ADVISORS CHIEF GOLD STRATEGIST JOINING US ON ALL THINGS GOLD AND THE FED, OF COURSE, AS WELL. >>> WE'RE GOING TO HAVE ALL YOUR MARKETS ACTION AHEAD SO STAY.

TUNED FOR MORE. YOU'RE WATCHING YAHOO! FINANCE. >>> JOBS IN FOCUS THIS WEEK AS FRESH ADP DATA SHOWING THE LABOR MARKET REMAINS RESILIENT. PRIVATE PAYROLLS FOR MARCH COMING IN HIGHER THAN EXPECTED, AND NOW INVESTORS ARE TURNING TO FRIDAY'S BIG JOBS REPORT.

TODAY, WE ARE TAKING A LOOK AT A PORTION OF THE POPULATION THAT'S STILL STRUGGLING TO GET JOBS. ONE IN THREE AMERICANS WITH A CRIMINAL RECORD ARE HAVING TROUBLE REENTERING THE WORKFORCE, AND ACCORDING TO JPMORGAN CHASE, IT'S SIDELINING THIS POPULATION IS COSTING THE.

U.S. ECONOMY AS MUCH AS $87 BILLION EACH YEAR. JPMORGAN, IN CONJUNCTION WITH THE SECOND CHANCE BUSINESS COALITION BUSINESS ROUND TABLE, EATON CORPORATION AND THE WHARTON SCHOOL WITH CO-HOSTING THE SECOND ANNUAL SECOND CHANCE CONFERENCE.

AND TODAY, BUSINESS LEADERS, AMONG OTHERS, ARE EXAMINING THE STATE OF SECOND CHANCE EMPLOYMENT AND OFFERING STRATEGIES FOR CONTINUED GROWTH. HERE WITH MORE FROM THE CONFERENCE IN PHILADELPHIA, WE WANT TO BRING IN JPMORGAN'S HEAD OF INSIGHTS FOR CORPORATE.

RESPONSIBILITY. IT'S GREAT TO SEE YOU HERE. OBVIOUSLY, A VERY IMPORTANT INITIATIVE, CONFERENCE THAT YOU'RE HOLDING RIGHT NOW IN CONJUNCTION WITH OTHERS TAKING PLACE IN PHILADELPHIA. HEATHER, JUST TAKING A STEP BACK, TALK TO US JUST ABOUT THE.

IMPORTANCE OF THIS INITIATIVE AND THE ECONOMIC IMPACT IT'S HAVING, KEEPING SO MANY OF THESE PEOPLE SIDELINED AND WITHOUT A JOB OPPORTUNITY. >> GOOD MORNING. THANK YOU SO MUCH FOR HAVING ME. IT'S ASTONISHING TO THINK THAT ONE IN THREE AMERICAN ADULTS,.

PEOPLE WHO ARE EMPLOYABLE, HAVE A CRIMINAL RECORD, AND THE VERY EXISTENCE OF THAT CRIMINAL RECORD SERVES AS A BARRIER TO EMPLOYMENT. IT KEEPS PEOPLE OUT OF THE WORKFORCE. IT COSTS OUR ECONOMY LOTS OF MONEY.

WE HAVE LOW UNEMPLOYMENT RIGHT NOW. WE NEED THESE PEOPLE TO BE IN THE JOB MARKET AND WORKING, AND IT'S BEEN A BIG PRIORITY FOR US AND WE'RE EXCITED TO BE HERE IN PHILADELPHIA TODAY, CONVENING BUSINESS LEADERS, ACADEMICS, NONPROFITS, COMMUNITY.

ORGANIZATIONS, TO ADDRESS THIS CHALLENGE. >> I'M CURIOUS, THEN, HEATHER, HOW YOU'RE WORKING ON KIND OF MEASURING THE SUCCESS OF THESE INITIATIVES, BECAUSE WE DO OFTEN SEE EFFORTS TO KIND OF RESKILL AND UPSKILL FOLKS, BUT UNTIL WE CHANGE HIRING PRACTICES ON THE.

OTHER END OF THINGS, IT'S DIFFICULT TO GET THOSE FOLKS PLACED IN CORPORATIONS. SO, WHAT IS YOUR MEASUREMENT FOR THE SUCCESS OF THIS EFFORT LOOKING LIKE? >> THAT'S RIGHT. WE REALLY DO NEED EMPLOYERS TO COME TOGETHER.

WE NEED COMMUNITY ORGANIZATIONS TO SUPPORT THE EFFORTS TO EDUCATE AND SUPPORT EMPLOYERS WHO ARE TRYING TO DO THIS WORK. FOR EXAMPLE, AT JPMORGAN CHASE, 10% OF OUR NEW HIRES ANNUALLY EVERY YEAR SINCE 2019 HAVE BEEN PEOPLE WITH CRIMINAL RECORDS, A.

AND THAT'S BECAUSE WE CHANGED OUR HIRING PRACTICES. WE ESTABLISHED PARTNERSHIPS WITH KEY ORGANIZATIONS AND MARKETS WHERE WE DO A LOT OF HIRING TO HELP ENDUCATE PEOPLE ON WHAT JOS THEY'RE QUALIFIED FOR, HOW TO APPLY FAR ROLE AT OUR FIRM AND HOW TO RAISE THE AWARENESS FOR.

OUR HIRING MANAGERS, BUT WE'RE JUST ONE CORPORATION. WHAT WE DO IS IMPORTANT, BUT WHAT WE REALLY NEED TO DO IS SCALE THOSE EFFORTS WITH OTHER EMPLOYERS AND OTHER BUSINESSES, AND THAT'S WHY WE COFOUNDED THE SECOND CHANCE BUSINESS COALITION.

IT WAS ABOUT BRINGING THOSE C-SUITE LEADERS TOGETHER AND TALKING ABOUT NOT JUST A COMMITMENT BUT HOW DO YOU FULFILL THAT COMMITMENT? WE'VE GROWN THE COALITION TO 50 BUSINESSES. WE'RE THRILLED THE NATIONAL BASKETBALL ASSOCIATION HAS.

JOINED OUR EFFORTS. THE CONVENING WE'RE HAVING TODAY IS ABOUT, HOW DO YOU DO THIS WORK? WHAT DO PARTNERS NEED TO DO TO MAKE THE CHANGE? >> HEATHER, TALK TO US ABOUT THE STRATEGY GOING FORWARD, RAISING AWARENESS, OBVIOUSLY, GETTING.

MORE BUSINESSES ON BOARD IS MAKING A REAL DIFFERENCE IN THE LONG TERM. TALK TO ME, THOUGH, ABOUT THE IMPACT THAT THIS HAS IN THE SHORT-TERM AND HOW QUICKLY YOU'RE ABLE TO GET MORE OF THESE PEOPLE WHO HAVE BEEN STRUGGLING TO FIND JOBS, HELP THEM GET.

PLACED IN THEIR JOBS. >> IT REALLY IS ABOUT INTENTION AND CHANGING POLICIES AS EMPLOYERS TO MAKE THAT HAPPEN. ONCE YOU DO THAT, YOU CAN SEE RESULTS VERY QUICKLY. ONE OF THE THINGS WE OBSERVED DURING THE PANDEMIC IS WE NEEDED QUITE A LOT — AFTER THE.

PANDEMIC — WE NEEDED QUITE A LOT OF PEOPLE TO ENTER THE WORKFORCE, AND A LOT OF EMPLOYERS SAID, WE NEED TO EXPAND OUR POOL? HOW DO WE REACH THESE PEOPLE WHO HAVE BEEN BARRED FROM OPPORTUNITIES? AND SO, WE'RE REALLY, REALLY.

FOCUSED ON THE BEST PRACTICES AND HOW WE CAN SCALE THAT AND WE'RE ALSO FOCUSED ON CHANGING PUBLIC POLICY AND REDUCING SOME OF THOSE BARRIERS THAT MAKE IT SO HARD FOR PEOPLE TO NAVIGATE THIS PROCESS. >> HEATHER, TALK TO ME ABOUT THE DIFFICULTY OF NAVIGATING THE.

PROCESS, BECAUSE I KNOW THAT YOU HAVE MENTIONED THAT ACCESSIBILITY TO RESOURCES, THAT PARTICULARLY FOR THOSE WHO HAVE BEEN WRONGFULLY CONVICTED, TO GET THAT CONVICTION CLEARED, THAT'S A VERY DIFFICULT AND HARD TO UNDERSTAND, OPAQUE PROCESS. SO, WHAT WOULD YOU HOPE TO BE.

CHANGED TO MAKE THAT PROCESS OF CLEARING CONVICTIONS A LITTLE BIT MORE ACCESSIBLE? >> ONE OF THE BIGGEST PRIORITIES WE HAVE IS INCREASING THE NUMBER OF STATES WHO HAVE ENACTED OR PASSED WHAT WE CALL CLEAN SLATE LEGISLATION, AND WHAT THAT MEANS IS THAT STATES PASS LAWS, AND.

THEY SAY, AFTER A CERTAIN PERIOD OF TIME, FOR CERTAIN SETS OF CRIMES, YOUR RECORD CAN BE EXPUNGED. UNFORTUNATELY, THE PROCESS TO DO SO IS INCREDIBLY LENGTHY, BUREAUCRATIC, TIME CONSUMING AND EXPENSIVE. EVEN IN STATES WHERE THERE HAVE.

BEEN EFFORTS TO ENACT THESE OPPORTUNITIES, IT ISN'T TAKEN UP. WHAT THE CLEAN SLATE LEGISLATION DOES IS AUTOMATE THAT PROCESS SO THAT YOU DON'T HAVE TO GO THROUGH AN EXPENSIVE, BURDENSOME, BUREAUCRATIC PROCESS TO DO THAT.

THAT ENABLES PEOPLE TO OVERCOME A HUGE BARRIER TO EMPLOYMENT, AND PHILADELPHIA, WE'RE HERE TODAY, AND PENNSYLVANIA WAS THE FIRST STATE IN THE COUNTRY TO ENACT THAT LEGISLATION. WE'VE SEEN OTHER STATES DO THE SAME, AND WE'RE GOING TO CONTINUE TO SUPPORT THOSE.

EFFORTS ACROSS THE COUNTRY. >> HEATHER HIGGENBOTTOM, WE APPRECIATE YOU TAKING THE TIME. JPMORGAN CHASE'S HEAD OF POLICY AND INSIGHTS FOR CORPORATE RESPONSIBILITY. THANKS, HEATHER. >> THANK YOU. >>> AMAZON IS CUTTING HUNDREDS.

OF JOBS IN ITS AWS CLOUD DIVISION, MOSTLY AFFECTING SALES AND MARKETING EMPLOYEES, AS WELL AS THE TEAM DEVELOPING THEIR “JUST WALK OUT” STORE TECHNOLOGY. THIS COMES ON THE HEELS OF THE COMPANY ANNOUNCING THAT THEY ARE GOING TO INVEST ANOTHER.

$2.75 BILLION IN THE A.I. RESEARCH AND SECURITY COMPANY, ANTHROPIC. DAN HOWLEY HAS MORE ON THAT FOR US. >> THAT'S RIGHT, SEANA. WE'RE HERE WITH AMAZON A.I. VP MATT WOOD, HERE TO TALK TO US ABOUT, WHAT ELSE, GENERATIVE.

A.I., AND ANTHROPIC, OBVIOUSLY. WE HAVE THE ANTHROPIC AND AWS LOGOS BACK HERE. MATT, WHAT CAN YOU TELL US ABOUT THE ANTHROPIC DEAL? I KNOW AMAZON COMPLETED THE $4 BILLION INVESTMENT. WHAT DOES THAT DO FOR AMAZON AND AWS?.

>> SURE. THANKS FOR HAVING ME. WE'RE A BIG FAN OF ANTHROPIC. WE JUST, AS YOU SAY, JUST COMPLETED OUR $4 BILLION INVESTMENT. IT'S AN EQUITY INVESTMENT, CONVERTIBLE NOTE. WE DON'T HAVE A ROLE ON THE.

BOARD OR ANYTHING LIKE THAT. ANTHROPIC MAKE GENERATIVE A.I., WHAT THEY CALL FOUNDATION MODELS, AND THAT'S REALLY THE CENTRAL ROBOTIC CORE FOR THE GENERATIVE A.I. REVOLUTION. ANTHROPIC TODAY HAVE THE BEST-PERFORMING GENERATIVE A.I. MODEL CALLED CLAUDE 3.

WE MADE THAT AVAILABLE ON AWS, AND CUSTOMERS BUILD ON TOP OF THAT MODEL TO DO DOCUMENT MANAGEMENT AND DRIVE AUTOMATION AND DIGITAL TRANSFORMATION INSIDE THEIR ORGANIZATION. >> SO, WHAT ARE YOU SEEING FROM CUSTOMERS AS FAR AS UPTAKE WHEN IT COMES TO GENERATIVE A.I.?.

ARE THEY CLAMORING FOR IT? ARE THEY TEPIDLY STEPPING INTO IT? ARE THEY GOING FULL BORE? >> THERE IS NOTHING TEPID ABOUT GENERATIVE A.I. TODAY. I HAVE HONESTLY BEEN AT AMAZON NOW FOR NEARLY 15 YEARS, AND I HAVE NEVER SEEN SUCH ENTHUSIASM,.

MOMENTUM, AND INVESTMENT FROM OUR CUSTOMERS AROUND A TECHNOLOGY. AND THE OPPORTUNITY FOR THEM IS REALLY TO BE ABLE TO JUST COMPLETELY REIMAGINE CORE ELEMENTS OF THEIR BUSINESS, THEIR CUSTOMER EXPERIENCE, AND TO DESIGN AND DELIVER ENTIRELY.

NEW CATEGORIES OF PRODUCTS. WE'RE SEEING THAT JUST ACROSS THE BOARD IN SO MANY DIFFERENT INDUSTRIES. OF INTEREST, THERE'S JUST A HUGE AMOUNT OF MOMENTUM IN THE REGULATED INDUSTRIES. INDUSTRIES THAT MAYBE DON'T ALWAYS HAVE THE BEST REPUTATION.

FOR INVESTING IN NEW TECHNOLOGIES, HEALTH CARE, INSURANCE, FINANCIAL SERVICES, LIFE SCIENCES, THEY ARE ALL OVER GENERATIVE A.I., AND USING IT TO DEVELOP NEW APPROACHES, EVERYTHING FROM CHAT BOTS ALL THE WAY THROUGH TO PFIZER DELIV.

>> SO, WHAT ARE THEY ASKING FOR WHEN THEY COME TO AWS AND THEY SAY, WE'RE INTERESTED IN GENERATIVE A.I.? WHAT'S KIND OF THAT PROCESS, AND IS THERE ANYTHING IN PARTICULAR THAT EVERY COMPANY IS SAYING, WE WANT THAT? >> THE NUMBER ONE THING, DO NOT.

PASS GO, DO NOT COLLECT $200, PRIVACY AND SECURITY. WHAT WE'VE HEARD FROM CUSTOMERS IS THAT THEY DON'T WANT TO HAVE TO MAKE A CHOICE WHEN IT COMES TO PRIVACY AND SECURITY OF THEIR DATA WHEN USING GENERATIVE A.I. AND OUR APPROACH AT AWS IS THAT CUSTOMERS WANT NOTHING MORE BUT.

ALSO NOTHING LESS THAN THEY GET FROM ANY OTHER AWS SERVICE WHEN IT COMES TO PRIVACY AND SECURITY, AND THAT ALLOWS THEM TO SAFELY AND SECURELY, PRIVATELY, TO BE ABLE TO USE THEIR OWN DATA FROM WITHIN THEIR OWN ORGANIZATION WITH THESE FOUNDATION MODELS IN A WAY THAT.

THAT INFORMATION IS NOT EXFILTRATED OR USED TO TRAIN THE UNDERLYING SYSTEMS. THERE'S NO HUMANS REVIEWING IT. WITH AWS, THEY HAVE CONFIDENCE TO BE ABLE TO BRING A LOT OF THAT DATA, WHICH IS ALREADY ON AWS, INTO THEIR GENERATIVE A.I. SYSTEM, WHICH ALLOWS THEM TO.

BUILD MORE SOPHISTICATED AUTOMATION. >> IN ADDITION TO ANTHROPIC, THERE'S TONS OF GENERATIVE A.I. MODELS OUT THERE. THE FOUNDATION MODELS. WHAT DOES AMAZON OFFER IN PARTICULAR WHEN IT COMES TO AWS? WE'VE HEARD GOOGLE'S GOT XYZ.

THEY'RE ALSO AN ANTHROPIC INVESTOR. MICROSOFT, OF COURSE, AND OPENAI ARE BASICALLY BEST FRIENDS AT THIS POINT. WHERE IS AWS, AND WHAT ARE THEY OFFERING IN ADDITION TO ANTHROPIC'S? >> OUR APPROACH IS THAT WE HAVE.

OUR OWN AMAZON FOUNDATION MODELS. THEY'RE GREAT FOR BUILDING AUTOMATION AND NATURAL LANGUAGE TASKS, BUT WHAT WE HAVE SEEN IS THAT THERE'S NO REALLY ONE MODEL TO RULE THEM ALL WHEN IT COMES TO GENERATIVE A.I. CUSTOMERS WANT A CHOICE OF.

MODELS SO THEY CAN FIND THE RIGHT CHOICE IN TERMS OF CAPABILITY OR PRICE OR LATENCY IN SPEED, AND SO WE OFFER A RANGE OF DIFFERENT MODELS FROM DIFFERENT PROVIDERS, SOME FROM AMAZON, SOME FROM ANTHROPIC. WE JUST ANNOUNCED YESTERDAY WE'RE BRINGING THE LATEST.

MISTRAL A.I. MODEL TO WASHINGTON, D.C. WE HAVE PUBLICLY AVAILABLE MODELS FROM META. WE WORK WITH STABILITY A.I., A.I. 21 LABS. THE LIST GOES ON. AND SO, IT'S REALLY ALL ABOUT HELPING CUSTOMERS IN ISOLATION.

FIND THE RIGHT MODEL FOR THEIR USE CASE, AND THEN THE SUPERPOWER OF GENERATIVE A.I. IS COMBINING THOSE MODELS AND HAVING A COMPOUNDING EFFECT ON THE INTELLIGENCE THAT YOU CAN APPLY TO AUTOMATION. >> JUST ONE LAST QUESTION, YOU KNOW, THE HARDWARE SIDE OF.

THINGS IS ALWAYS VERY POPULAR TO TALK ABOUT. NVIDIA IS ONE OF THE BIGGEST STOCKS OF THE YEAR, AND LAST YEAR. WHAT KIND OF HARDWARE CAN PEOPLE EXPECT, AND ARE THEY ABLE TO SELECT BETWEEN THEM? CAN THEY SAY, I WANT AMAZON'S.

OWN CHIPS, NVIDIA CHIPS, SOMEONE ELSE'S? >> ABSOLUTELY. JUST LIKE WE APPROACH DIFFERENT MODELS AND HAVING SELECTION AND CHOICE, THAT IS DISPROPORTIONATELY IMPORTANT WITH THE CHIPS AND THE SILICONE THAT CUSTOMERS RUN ON AS WELL.

WE HAVE OUR OWN CHIPS IN AMAZON, ONE THAT'S DESIGNED TO ACCELERATE MACHINE LEARNING AND A.I. MODEL TRAINING. ONE IS DESIGNED TO ACCELERATE MODEL INFERENCE OR MAKING PREDICTIONS, GENERATING TEXT. BUT CUSTOMERS CAN ALSO CHOOSE THE LATEST NVIDIA GPUs AND OTHER.

ACCELERATORS FROM OTHER PROVIDERS. HAVING THAT CHOICE WHEN IT'S EARLY LIKE THIS IS DISPROPORTIONATELY IMPORTANT, BUT WE THINK THAT CHOICE IS GOING TO REMAIN IMPORTANT AS MORE AND MORE CUSTOMERS GO FURTHER DOWN THEIR JOURNEY.

>> MATT WOOD, VP OF A.I. AT WASHINGTON, D.C. THANK YOU SO MUCH FOR JOINING US. SEANA, BACK TO YOU. >> ALL RIGHT, DAN HOWLEY, THANK YOU SO MUCH. AND OF COURSE, THANKS TO MATT AS WELL.

>>> COMING UP RIGHT HERE ON YAHOO! FINANCE, WE'VE GOT MUCH MORE OF YOUR MARKET ACTION AHEAD. AGAIN, JUST ABOUT AN HOUR AND 15 MINUTES INTO TODAY'S TRADING DAY. GREEN STILL ACROSS THE SCREEN WITH THE NASDAQ, THE.

OUTPERFORMER, THE THREE MAJOR AVERAGES. WE'LL BE RIGHT BACK. >>> COINBASE SECURING REGISTER AS A RESTRICTED DEAL NER CANADA TODAY. THIS MEANS THAT THE CRYPTO EXCHANGE IS MEETING REGULATOR REQUIREMENTS FOR CRYPTO ASSET.

DEALINGS AND CAN OPERATE LEGALLY WITHIN THE COUNTRY. THIS COMES AS COINBASE IS FACING A REGULATORY CRACKDOWN HERE IN THE U.S. TO BREAK ALL THIS DOWN, WHAT THIS MEANS FOR THE CRYPTO INDUSTRY AT LARGE, WE WANT TO BRING IN COINBASE'S CHIEF POLICY.

OFFICER. IT'S GREAT TO SEE YOU AGAIN. SO, JUST TO MAKE IT CLEAR, YOU NOW HAVE TWO ENTITIES IN CANADA. YOU HAVE COINBASE CANADA AND ALSO COINBASE REGISTERED AS A RESTRICTED DEALER. TALK TO ME JUST ABOUT THE HEADLINE NEWS OF TODAY AND HOW.

BIG OF A BOOST DO YOU SEE THIS BEING FOR YOUR PLATFORM AND CRYPTO ADOPTION? >> OH, IT'S A REALLY EXCITING DEVELOPMENT. CANADA'S A VERY SOPHISTICATED MARKET. THE ADOPTION OF CRYPTO ACROSS THE POPULATION HAS BEEN.

ENORMOUS. AND LIKE IN EVERY OTHER MARKET, COINBASE IS VERY COMMITTED TO BEING A COMPLIANT, REGULATED MARKET PLAYER, AND WORKING CLOSELY WITH THE ONTARIO SECURITIES COMMISSION AND THE CANADIAN SECURITIES ADMINISTRATORS.

WE'RE REALLY PLEASED TO GET OVER THIS IMPORTANT THRESHOLD AND NOW BE ABLE TO OPERATE IN THIS MARKET WITH REGULATORY CLARITY AND GIVE OUR CUSTOMERS THE CONFIDENCE THEY NEED TO TRANSACT. HUGE DEVELOPMENT. REALLY IMPORTANT.

WE'RE EXCITED TO BE HERE. >> TO WHAT EXTENT DO YOU AND YOUR COLLEAGUES ANTICIPATE TODAY'S NEWS COMING OUT OF CANADA MOVING THE NEEDLE IN OTHER JURISDICTIONS, PARTICULARLY THINKING ABOUT HERE IN THE U.S.? >> WELL, UNFORTUNATELY, THE U.S.

HAS BEEN AN OUTLIER. MOST OF THE G20, 80% PLUS OF THE G20 AND MARKET ECONOMIES HAVE MOVED AGGRESSIVELY. MOST OF THE FINANCIAL CENTERS AND MOST OF THE MAJOR ECONOMIES, EU, UK, HONG KONG, AUSTRALIA, SINGAPORE, BRAZIL, AND NOW CANADA.

SO, THE REST OF THE WORLD HAS ACCEPTED AND IS ADOPTING TOKENIZATION, INTEGRATING IT INTO THE SEAFINANCIAL SYSTEM, V MUCH WITH A VIEW TOWARD HELPING THE CONSUMER. IN THE U.S., WE'RE ON A SLOWER TRACK, AND I THINK THAT'S OUR BIG HEADLINE MESSAGE.

THE U.S. NEEDS TO GET GOING ON STABLECOIN REGULATION, AS WELL AS THE REGULATION OF THE MARKET STRUCTURE, AND I THINK THAT WILL ALLOW THE INDUSTRY OF THE U.S. TO GROW AND DEVELOP, AND FOR CONSUMERS TO GET THE PROTECTIONS THEY DESERVE. >> SPEAKING OF REGULATIONS OR A.

PATHWAY HERE FORWARD, IN THE CASE WEEK ON TUESDAY APRIL 9th, WE NO THE SENATE BANKING COMMITTEE HAS A MEETING SCHEDULED. TALK TO US ABOUT WHAT YOU'RE HEARING FROM POLICYMAKERS RIGHT NOW AND HOW CONFIDENCE YOU ARE THAT WE ARE GOING TO SEE SOME.

MOVEMENT ON THIS FRONT. >> THERE'S A LOT OF MOMENTUM BEHIND A STABLECOIN BILL, AND WE'RE HOPING NEXT WEEK'S HEARING FROM THE SENATE BANKING COMMITTEE WILL HOPEFULLY BE THE CATALYST TO FINALLY GET THAT COMMITMENT TO GET SOMETHING DONE INTO A REAL SORT OF LEGISLATIVE.

VEHICLE THAT WE CAN SEE TO CREATE A CLEAR FEDERAL FRAMEWORK AROUND STABLECOIN ISSUANCE IN THE UNITED STATES. 98% OF THE STABLECOIN MARKET IS DOLLAR DENOMINATED. THE CENTER OF STABLECOIN ISSUANCE SHOULD BE IN THE UNITED STATES.

LEGISLATION WOULD HELP MAKE SURE THAT HAPPENS, AND WE HOPE THAT CONGRESS MOVES. HEARINGS ARE USEFUL, BUT LEGISLATION'S ULTIMATELY WHAT NEEDS TO HAPPEN. THE ADMINISTRATION SAYS THEY WANT LEGISLATION. MEMBERS OF CONGRESS IN BOTH.

HOUSES, DEMOCRATS AND REPUBLICANS, SAY THEY WANT LEGISLATION. AND I THINK WE'RE WAY OVERDUE TO ACTUALLY GET SOME BILLS DONE, AND WE'RE EXCITED TO BE A PART OF THE PROCESS. >> I KNOW THAT PART OF THAT PROCESS IS HAPPENING RIGHT NOW.

WITH THE S.E.C. HAVING SAID THAT, LAST WEEK, MARCH 27th, THIS RULING IN THE U.S. THAT WILL ALLOW THE MAJORITY OF THE S.E.C. CLAIMS TO PROCEED AGAINST COINBASE WITH A BILLION DOLLARS AT STAKE FOR THE FIRM. HOW CONFIDENT ARE YOU THAT.

COINBASE CAN WIN IN THIS LEGISLATION MOVING FORWARD, DESPITE THAT SETBACK LAST WEEK? >> OUR GOAL AS A COMPANY, AND BRIAN ARMSTRONG HAS SAID THIS ALL ALONG, IS TO GET CHARITY. WE CAN GET CLARITY IN THE COURTS OR WITH LEGISLATION. IT'S NOT A MATTER OF THE.

IT'S A MATTER OF WHEN. THERE IS A CHANCE WE COULD GET A STABLECOIN BILL EVEN IN THE MATTER OF THE NEXT FEW WEEKS OR MONTHS, POTENTIALLY. THAT'S A LONG SHOT, BUT IT COULD HAPPEN. AND I THINK WE'LL SEE, FOR SURE, IMPORTANT MOVEMENT IN THE HOUSE.

ON A MARKET STRUCTURE BILL, AND SO, LEGISLATION'S HARD. IT'S DESIGNED TO BE HARD IN THE UNITED STATES. AND I THINK EVERY STEP THAT WE TAKE IS HELPFUL IN THAT REGARD, AND I THINK WE'LL TAKE SOME REALLY IMPORTANT STEPS OVER THE NEXT FEW MONTHS AND YOU KNOW,.

THERE'S 52 MILLION AMERICANS WHO OWN CRYPTO. THEY DESERVE THE PROTECTION OF LEGISLATION AND REGULATION, AND HOPEFULLY CONGRESS AND THE ADMINISTRATION WILL STEP UP AND PROVIDE THAT TO THEM. >> FARYAR, THERE'S A RECENT POLL CONDU.

CONDUCTED BY A CRYPTO INVESTMENT FIRM ASKING VOTERS WHETHER FORMER PRESIDENT TRUMP OR PRESIDENT JOE BIDEN WOULD BE BETTER FOR THE CRYPTO LANDSCAPE. I'M CURIOUS, DO YOU THINK EITHER BIDEN VERSUS TRUMP WOULD BE BETTER FOR CRYPTO, AND IF SO, WHY?.

>> I THINK THIS WHOLE ELECTION SEASON HAS BEEN GREAT FOR CRYPTO. YOU'VE HAD SO MANY CANDIDATES WHO LOOK AROUND, SEE THERE ARE 52 MILLION AMERICANS WHO OWN CRYPTO, THAT THEY DESERVE TO BE TREATED WITH RESPECT, TO HAVE A CLEAR FEDERAL RULE SO THAT YOU.

DON'T HAVE THE OVERREACH OF REGULATORS LIKE THE S.E.C. COMING AFTER THEM. AND YOU'VE SEEN CANDIDATES FROM ALL SIDES OF THE POLITICAL SPECTRUM, DEMOCRATS, REPUBLICANS, STEP UP. THE PRESIDENTIAL CANDIDATES HAVEN'T SPOKEN THAT MUCH ABOUT.

IT. RFK JR. HAS. A NUMBER OF THE REPUBLICANS IN THE PRIMARY DID IN VERY FORWARD-LEANING WAYS. AND WE'RE HOPING OVER THE NEXT FEW MONTHS WE'LL SEE PRESIDENT BIDEN AND PRESIDENT TRUMP BOTH TAKE THE OPPORTUNITY AND CONNECT.

WITH THE 50 MILLION AMERICANS WHO OWN CRYPTO AND LET THEM KNOW THAT THEIR AGENDA IS ON TOP OF MIND FOR THEM, AND I THINK THAT WOULD BE REALLY IMPORTANT POLITICAL DEVELOPMENT. >> FARYAR SHIRZAD, WE APPRECIATE YOU TAKING THE TIME TO JOIN US. >> THANKS FOR HAVING ME ON.

>>> LET'S DO A FINAL CHECK OF THE MARKETS. STILL LOOKING AT GAINS ACROSS THE BOARD. THE DOW, NOW UP 176 POINTS. YOU'VE GOT THE S&P UP JUST AROUND 0.6%. THE NASDAQ, THE OUTPERFORMER OF THE THREE MAJOR AVERAGES.

>>> COMING UP, OUR BRAND-NEW SHOW “WEALTH!” DEDICATED TO ALL YOUR PERSONAL FINANCE KNNEEDS. BRAD SMITH HAS YOU FOR THE NEXT HOUR. STAY TUNED. WE'LL SEE YOU TOMORROW. . >>> WEALTH, EARNING IT, GROWING,.

IT AND MANAGING IT. IT'S MORE THAN TRACKING JUST THE LATEST MARKET MOVES. IT'S MORE THAN YOUR FAVORITE TRENDING TICKERS. ONE DOES NOT SIMPLY BUILD WEALTH WITHOUT CONSIDERING THE ENTIRE FINANCIAL LANDSCAPE. IT TAKES A COMMUNITY, AND WE'VE.

BUILT ONE FOR YOU. ON TODAY'S SHOW, TAX SEASON CRUNCH TIME. WE'LL REVEAL THE THREE BIGGEST MISTAKES THAT COULD AFFECT YOUR TAX RETURN. >>> AND IS A FOUR-DAY WORKWEEK FOR YOU? IT'S FOR ME.

WE DIG INTO THE PROS AND CONS. >>> PLUS, THE FINAL DAYS OF MARCH MADNESS, YEAH, IT IS, BECAUSE WE'RE IN APRIL. WE HAVE TIPS AND TRICKS TO AVOID LOSING YOUR SHIRT WHILE YOU WAGER. LET'S GET THIS BREAD, WELCOME TO WEALTH, EVERYONE, I'M BRAD.

SMITH, AND THIS IS YAHOO! FINANCE'S NEWEST GUIDE TO BUILDING YOUR FINANCIAL FOOTPRINT. OUR COMMUNITY OF EXPERTS WILL GIVE YOU THE RESOURCES, TOOLS, TIPS AND TRICKS YOU NEED TO GROW YOUR MONEY. YOUR WEALTH THEME FOR TODAY,.

BINGO, PROTECTING YOUR FINANCES FROM MISTAKES THAT WILL COST YOU ON YOUR TAX RETURN TO TIPS ON SPORTS BETTING. WE'LL LOOK AT HOW TO SAFEGUARD YOUR MONEY. THIS TAX SEASON, AMERICANS ARE FINDING THEMSELVES WITH A FEW EXTRA DOLLARS TO SPEND.

THE AVERAGE REFUND AMOUNT IS UP 6% YEAR OVER YEAR TO $3,081. THAT'S ACCORDING TO THE IRS. SO WHAT RETAILERS ARE EXPECTED TO BENEFIT FROM THIS SLIGHT BOOST? YAHOO! FINANCE'S BROOKE DiPALMA THE DETAILS ON THIS ONE.OOM WITH WHAT DO WE KNOW?.

>> CFRA ANALYST SAID THIS COULD GIVE A SLIGHT BOOST TO DISCOUNT RETAILERS. THINK WALMART, DOLLAR TREE, THINK DOLLAR GENERAL. TAX REFUNDS TYPICALLY HAVE A GREATER IMPACT ON LOWER INCOME FAMILIES WHO MAY USE THIS EXTRA CASH FOR VALUE EVERY DAY.

ESSENTIALS. AND JPMORGAN ANALYST, CHRISTOPHER HORVEZ SAID IN A NOTE THAT AUTO RETAILERS, COULD HAVE SEEN A BOOST AT THE END OF THE FIRST QUARTER, AND HE POINTED TO A FEW KEY AUTO RETAILERS, LIKE O'REILLY AUTOMOTIVE, AND ADVANCE.

AUTOPARTS, PLUS SPORTING GOOD SPORTS, LIKE DICK'S SPORTING GOODS AND ACADEMY COULD HAVE SEEN A BOOST AS WELL. S&P GLOBAL INTELLIGENCE ECONOMIST SAID SOME CONSUMERS MAY OPT TO BUY A LARGE DURABLE PURCHASE WITH THE TAX REFUNDS, LIKE A NEW DISHWASHER OR.

REFRIGERATOR, SOMETHING THEY HAVE BEEN HOLDING OFF FOR QUITE SOME TIME, AND THAT COULD LIFT LOWE'S AND HOME DEPOT. TAX REFUNDS ARE DOWN 2% OR $3 BILLION COMPARED TO LAST YEAR. AND THERE ARE TWO REASONS HERE BEHIND THAT.

THE TAX FILING PERIOD STARTED A WEEK LATER THIS YEAR. AND GET THIS, PEOPLE ARE ACTUALLY FILING THEIR TAXES LATER COMPARED TO BEFORE THE PANDEMIC. SO AS CONSUMERS WAIT FOR THE REFUNDS, RETAILERS MAY ALSO SEE ANY CHANGE IN CONSUMER BEHAVING.

PATTERNS OR SPENDING PATTERNS, RATHER, THIS MONTH, APRIL AND IN MAY AS WELL. >> IT'S REALLY INTERESTING, BROOKE, ARE THERE ANY COMPANIES THAT LIKELY WON'T SEE A DIFFERENCE, THOUGH? >> YEAH, BRAD, THOSE THAT CATER TO HIGHER INCOME CONSUMERS LIKE.

COSTCO, THAT'S A MEMBERSHIP MODEL. AND STORES THAT CATER TO GROCERIES, THINK LIKE A KROGER. THAT WON'T SEE A SIGNIFICANT CHANGE. CONSUMERS ARE GOING THERE FOR THEIR EVERY DAY GOODS. KEEP IN MIND ON THIS, MANY.

AMERICANS MAY NOT CHOOSE TO SPLURGE AND GO ALL OUT ON SPENDING WITH NARROW TAX RETURNS. OTHERS WILL MAKE THE CHOICE TO PAY OFF SOME DEBT WITH THOSE REFUNDS, AND RIGHT NOW, U.S. HOUSEHOLD DEBT IS UP $604 BILLION YEAR OVER YEAR FROM.

CREDIT CARD, MORTGAGE, AUTO LOAN, AND STUDENT LOAN DEBT, AND LET'S SAY THEY DO PAY OFF SOME OF THAT DEBT IN Q2. WELL, THEN WE COULD SEE THOSE CONSUMERS WANT TO SPLURGE ON GOODS IN THE THIRD QUARTER OF THIS YEAR, WITH THAT CASH LEFT OVER.

WE'LL KEEP A CLOSE LOOK AT IT, BACK TO YOU, BRAD. >> IT'S NOT LIKE ANYBODY IS GOING TO GET A TAX REFUND IN THE MAIL, ONE BOX OF UNCRUSTABLES, I'VE GOT THIS REFUND, AND I'M GOING TO BUY 16 BOXES OF UNCRUSTABLES. THANK YOU SO MUCH FOR BREAKING.

THIS DOWN FOR US. APPRECIATE IT. >>> WE'RELESS THAN TWO WEEKS AWAY FROM THE DEADLINE MILLIONS OF TAXPAYERS DREAD. IF YOU HAVE SUBMITTED YOUR 2023 TAX RETURN TO THE IRS, GIVE YOURSELF A BIG PAT ON THE BACK. IF YOU HAVEN'T, YOU STILL HAVE.

UNTIL APRIL 15th TO DO SO. FILING YOUR TAXES MAY SEEM STRAIGHTFORWARD. BUT YOU'LL BE SURPRISED HOW MANY PEOPLE MAKE COMMON MISTAKES THAT END UP COSTING THEM. SO HOW CAN WE AVOID THESE ISSUES. LET'S GET HELP, DAN GELTRUDE.

JOINING US HERE TODAY. WHAT IS THE TOP MISTAKE THAT YOU SEE MOST FREQUENTLY? >> THERE'S REALLY THREE OF THEM, BRAD, RIGHT, AND THEY'RE SO EASY AND SO AVOIDABLE, YET THEY HAPPEN ALL THE TIME. FIRST OF ALL, PEOPLE END UP PUTTING DOWN THE WRONG SOCIAL.

SECURITY NUMBER. PRIMARILY THEY'LL TRANSPOSE NUMBERS. THAT'S THE FIRST THING. THE SECOND THING IS THEY MAKE A MISTAKE RELATED TO THEIR FILING STATUS. THEY MAY BE MARRIED AND THEY PUT SINGLE INSTEAD.

NO GOOD. AND THE LAST THING IS THE INFORMATION ON THE RETURN IS ACTUALLY INCOMPLETE, SPECIFICALLY PEOPLE HAVE A TENDENCY TO FORGET ABOUT SOME OF THOSE 1099s THAT THEY GOT OR THEY LOST THEM, BUT ANY OF THOSE.

THREE ITEMS IS GOING TO BRING ATTENTION TO YOUR TAX RETURN, AND ONE OF THE KEYS ABOUT FILING YOUR TAX RETURN IS YOU DON'T WANT TO HEAR FROM THE IRS. YOU DON'T WANT TO INVITE THEM TO THE PARTY, AND WHEN YOU MAKE THESE COMMON MISTAKES, YOU'RE SENDING THAT BIG OLD INVITATION.

RIGHT OVER TO THEM. >> HOW CAN PEOPLE MAKE SURE THEY DON'T MAKE THESE MISTAKES AND AVOID THESE PITFALLS. WHAT ARE SOME OF THE CHECKS, THE BALANCES THEY CAN PUT IN PLACE. >> THE FIRST THING TO DO IS TO CHECK YOUR CURRENT YEAR TAX RETURN AGAINST LAST YEAR.

IF YOU GOT YOUR TAX RETURN RIGHT LAST YEAR, WELL, THAT'S A GOOD MODEL TO FOLLOW TO MAKE SURE YOU DIDN'T MAKE ANY OF THOSE MISTAKES. SECOND THING IS, YOU WANT TO MAKE SURE THAT YOU'RE PROPERLY ORGANIZED WITH ALL OF YOUR TAX DOCUMENTS TO MAKE SURE YOU'RE.

NOT GOING TO MISPLACE ANYTHING, AND THE OTHER THING IS TO MAKE SURE YOU REVIEW YOUR TAX RETURN, VERY VERY CAREFULLY BEFORE YOU ACTUALLY SUBMIT IT. >> DAN, WHAT HAPPENS WHEN YOU FILE YOUR TAX RETURN, AND YOU OWE, BUT PERHAPS CAN'T AFFORD TO PAY IMMEDIATELY?.

>> WELL, THAT'S A BIG UH-OH, RIGHT, BRAD, SO LISTEN. THE FIRST THING THAT PEOPLE THINK IS, OH, NO, I DON'T HAVE ENOUGH TO PAY MY TAX BILL. I'M NOT GOING TO FILE MY TAX RETURN. WRONG ANSWER. FILE THE TAX RETURN, MAKE.

WHATEVER PAYMENT YOU CAN AND EVEN IF YOU CAN'T MAKE ANY PAYMENT, FILE IT ANYWAY BECAUSE IT'S ALL ABOUT REDUCING THE POTENTIAL OR PENALTIES FOR NONFILING. THEN THE NEXT THING TO DO IS LOOK AT FORM 9465, WHICH IS AN INSTALLMENT AGREEMENT.

IN OTHER WORDS, TRY TO WORK OUT A PAYMENT PLAN WITH THE IRS TO GET THOSE TAXES PAID. AND THEN THE LAST THING IS WHAT'S CALLED AN OFFERING COMPROMISE. AND THAT'S WHERE YOU MAKE A LUMP SUM PAYMENT FOR SOME LESSER AMOUNT TO TRY TO CALL IT EVEN.

STEVEN WITH THE IRS. >> WHAT ABOUT FORGIG WORKERS OUT THERE. THERE HAVE BEEN SO MANY CHANGES WITHIN THE LAST YEAR. I KNOW WE'RE SPECIFICALLY LOOKING AT 2023 HERE AS PEOPLE ARE FILING. ARE THERE SIGNIFICANT CHANGES.

THAT GIG WORKERS SHOULD BE ON THE LOOKOUT FOR AND HOW THEY'RE FILING? >> WELL, NOT NECESSARILY CHANGES, BUT ONE THING THAT'S OVERLOOKED, BRAD, IS THAT WHEN YOU HAVE THESE GIG WORKERS WHO ARE RECEIVING 1099s IN TERMS OF WORKING AS AN INDEPENDENT.

CONTRACTOR, YOU DON'T NECESSARILY HAVE TO JUST PUT THAT NUMBER ON YOUR TAX RETURN. YOU CAN GO TO WHAT'S CALLED A SCHEDULE C, WHICH IS BASICALLY THE EQUIVALENT OF HAVING YOUR OWN BUSINESS, AND BY SETTING IT UP THAT WAY, BRAD, YOU ARE ABLE TO TAKE DEDUCTIONS FOR ANY.

EXPENSES THAT YOU HAVE RELATED TO GENERATING THAT INCOME. SO WHAT YOU WANT TO DO IS MAKE SURE THAT YOU MAINTAIN ALL THE DOCUMENTS RELATED TO HAVING EXPENSES FOR THAT GIG THAT YOU HAVE RUNNING. THAT WAY YOU CAN GET THE BENEFIT OF DEDUCTIONS YOU NORMALLY.

WOULDN'T GET AS A W 2 EMPLOYEE. >> HOW FAR AWAY ARE WE FROM GENERATIVE AI JUST ABSOLUTELY CHANGING THE ENTIRE LANDSCAPE OF FILING THESE TAX RETURNS AND GOING THROUGH THE YEAR IN, YEAR OUT DUTY, AND MAKING SURE THAT YOU'RE GETTING YOUR REFUND OR MAKING SURE THAT YOU'RE JUST.

ALLOCATING FOR WHAT MAYBE YOU DIDN'T PAY OVER THE COURSE OF THE YEAR AND HAVE TO DECLARE AS WELL? >> WELL, WE'RE KIND OF THERE NOW. I MEAN, WITH THE ADVANCEMENT OF THE TAX PREPARATION PROGRAMS IN TERMS OF JUST BEING ABLE TO.

COMPLY WITH FILING YOUR TAX RETURN, YEAH, I MEAN, IT'S GOING TO GO FURTHER AND FURTHER DOWN THAT ROAD. WHERE THE BENEFIT COMES IN IN TERMS OF HAVING HUMAN INVOLVEMENT IS RELATED TO THE STRATEGY. HOW DO YOU LEGALLY MINIMIZE HOW.

MUCH TAX YOU PAY, AND I DON'T THINK THAT WE'RE THERE WITH AI RIGHT NOW. IS THAT SOMETHING WAY DOWN THE ROAD? SURE, THAT'S POSSIBLE, BUT IN TERMS OF COMPLIANCE, THERE'S A LOT OUT THERE ALREADY. >> DAN, ALWAYS A PLEASURE TO GET.

TIME WITH YOU. THANK YOU SO MUCH FOR JOINING US HERE ON WEALTH. DAN GELTRUDE. >> THANKS. >>> COMING UP, IS THURSDAY THE NEW FRIDAY? WE'LL BREAK DOWN THE PROS AND CONS OF A FOUR-DAY WORKWEEK,.

PLUS WE'RE GOING TO DIG INTO MORE FINANCIAL LITERACY TIPS AS WE KICK OFF APRIL, ALSO KNOWN AS FINANCIAL LITERACY AWARENESS MONTH. THAT IS AFTER THE BREAK. >>> THE FUTURE OF WORK CONTINUES TO EVOLVE AND THE HOURS SPENT ON THE JOB MAY POSSIBLY CHANGE TOO.

SENATOR BERNIE SANDERS RECENTLY PROPOSING A BILL TO CUT THE WORKWEEK TO 32 HOURS WITHOUT CUTTING PAY. HE CITES 60% OF AMERICANS LIVING PAYCHECK TO PAYCHECK, AND THAT SINCE 1973, WEEKLY WAGES FOR THE AVERAGE AMERICAN WORKER HAVE ACTUALLY GONE DOWN AFTER.

ADJUSTING FOR INFLATION. HE SAYS THAT TECH ADVANCEMENTS LIKE AI ARE BOOSTING PRODUCTIVITY, AND COMPANY'S BOTTOM LINES AS WELL, SO WORKERS SHOULD REAP THE BENEFITS, TOO. LET'S BRING IN YAHOO! FINANCE'S RACHELLE AKUFFO TO BREAK IT DOWN FOR US.

HEY, RACHELLE. >> HEY, BRAD, GOOD TO SEE YOU. AS WE'RE TALKING ABOUT HERE, THIS IS THE 32 HOUR WORKWEEK THAT SENATOR SANDERS IS PROPOSING, FROM 40 HOURS TO 32 HOURS. IT'S NOT AS STRAIGHTFORWARD AS CHOPPING OFF THE DAY.

THIS IS SOMETHING THAT WOULD TRANSITION OVER THE PERIOD OF FOUR YEARS. IT WOULD BE BY LOWERING THE THRESHOLD FOR OVERTIME COMPENSATION FOR NONEXEMPT EMPLOYEES. IT WOULD ALSO REQUIRE OVERTIME PAY AT TIME AND A HALF FOR.

WORKDAYS LONGER THAN THE TRADITIONAL EIGHT HOURS, AND DOUBLE REGULAR PAY FOR WORKDAYS LONGER THAN 12 HOURS. IT WOULD PROTECT WORKERS PAY AND BENEFIT AS A REDUCTION IN THE WORKWEEK DOES NOT CAUSE A LOSS IN PAY. CERTAINLY SOME JUGGLING THEY'LL.

HAVE TO DO HERE. OBVIOUSLY THIS IS SOMETHING THAT ISN'T COMPLETELY NEW. THE U.S. WOULDN'T BE THE FIRST COUNTRY TO TRY AND ATTEMPT THIS, BRAD. >> OTHER COUNTRIES HAVE BEEN EXPERIMENTING WITH THIS, AND VERSIONS OF THIS OR, I MEAN, IF.

YOU GO TO SPAIN, THEY ESSENTIALLY JUST TAKE A MASSIVE BREAK IN THE MIDDLE OF THE DAY ANYWAY. BUT I DIGRESS. COULD THE U.S. REALISTICALLY FOLLOW SUIT HERE? >> AS YOU MENTIONED, THERE'S DIFFERENT WAYS OF EXPERIMENTING.

WITH THIS VERSION. SOME OF THE COUNTRIES THAT SENATOR SANDERS CITE, FRANCE HAS A 35 HOUR WORKWEEK, SEVEN HOURS A DAY FOR FIVE DAYS. THEY ARE EXPLORING A 32-HOUR WORKWEEK. NORWAY AND DENMARK, A 37 1/2 HOUR WORKWEEK WITH A 30-MINUTE.

BREAK. YOU HAVE INDIVIDUAL COMPANIES, NOT JUST THE ONES YOU SEE ON THE SCREEN, THE U.S., CANADA, BRITAIN, SPAIN, PORTUGAL AND OTHERS, THEY ARE PILOTING STUDIES HERE, A GLOBAL STUDY FROM BOSTON COLLEGE SHOWS SOME OF THE PARTICIPATING COUNTRIES.

SAW INCREASED PRODUCTIVITY, WORKER BURNOUT. LOWER CHILD CARE COSTS AND LESS CARBON EMISSIONS, LESS TRAVELING, YOU'RE ABLE TO HAVE A BIT MORE FLEXIBILITY. IT IS WORTH KEEPING IN MIND, THOUGH, THAT IT IS EASIER FOR CERTAIN INDUSTRIES TO.

REPLICATION THE SUCCESS AND ADJUST FROM OTHERS, AS WE LEARNED FROM THE COVID PANDEMIC, SOME PEOPLE DID HAVE TO WORK IN PERSON, ESPECIALLY IN SOME OF THE HANDS-ON INDUSTRIES. ONE OF THE CRITICISMS, INCLUDING FROM THE GOP SENATOR BILL CASSIDY IS THAT SMALLER.

BUSINESSES ARE STRUGGLING TO FIND SKILLED WORKERS THEY NEED IN THE U.S., TO HAVE A SHORTER WORKWEEK WITH THE SAME PAY WOULD HIT RAZOR THIN MARGINS. >> WHY NOW? I WONDER HOW THIS IS GOING TO MOVE FORWARD, BUT ALSO JUST THE TIMING OF IT.

>> IT'S TRUE, I MEAN, LOOK, WHEN YOU LOOK AT EVERY TIME THAT WE TALK ABOUT EARNINGS, WE TALK ABOUT HOW SOME OF THESE COMPANIES ARE SOARING. SANDERS NOTED THAT HE'S HIGHLIGHTING THIS IS NOT THE SAME WORK FORCE THAT WE WERE IN BACK IN THE 1940s, WHEN THE FAIR.

LABOR ACT ESTABLISHED THE 40-HOUR WORKWEEK. THE ST. LOUIS FED CHAIR SAYS THAT BUSINESS PRODUCTIVITY IS UP 400% SINCE THEN, AND THE ECONOMIC POLICY INSTITUTE FOUND AS OF 2021, CEOs WERE PAID ABOUT 400 TIMES MORE THAN THE TYPICAL WORKER.

AND AS WE MENTIONED, ADVANCEMENTS IN AI, AND OTHER TECH SHOULD MEAN THAT WORKERS ARE ABLE TO STAY EVEN MORE PRODUCTIVE WHILE REDUCING HOURS. NOW, INTERESTINGLY, THIS IS SUPPORTED BY SEVERAL UNIONS, INCLUDING THE UNITED AUTO WORKERS.

OF COURSE WE CONTINUE TO SEE THAT UNION PUSH STILL IN 2024. BUT STILL GOING TO BE A HARD SELL IN CONGRESS, SFESPECIALLY AN ELECTION YEAR, AND PERSISTENT INFLATION. PEOPLE FEELING THE BITE, ESPECIALLY SMALL BUSINESSES AS WELL.

YOU ARE MORE LIKELY TO SEE INDIVIDUAL COMPANIES TAKING THE LEAD HERE, DEPENDING ON HOW TIGHT THE JOB MARKET REMAINS. PERHAPS IN YOUR NEXT COMPANY MEETING, IF SOMEONE ASKS IF THERE ARE ANY QUESTIONS, MAYBE THROW THE IDEA OF A 32-HOUR WORKWEEK OUT THERE, BUT OF.

COURSE HAVE THOSE PRODUCTIVITY NUMBERS OUT THERE TO BACK IT UP AS WELL. >> JUST TOSS IT ON THE TABLE, RUN AWAY, AND SEE WHAT YOU COME BACK TO ON THE CONVERSATION ON THE OTHER SIDE. MAYBE IT WILL BE PRODUCTIVE. RACHELLE, THANK YOU SO MUCH, WE.

APPRECIATE IT. >>> APRIL IS FINANCIAL LITERACY MONTH, WHICH PLACES A SPOTLIGHT ON THE BASICS OF BANKING, INVESTING AND HOW TO MANAGE YOUR MONEY SO THAT WE ALL COLLECTIVELY ARE EDUCATED ENOUGH TO FEEL STABLE AND SECURE. THE FEDERAL RESERVE, THEY FOUND.

A STRIKING DISPARITY IN HOW CONFIDENT MEN AND WOMEN FEEL WITH THEIR OWN MONEY. 54% OF WOMEN ANSWERED A LOWER PERCENTAGE OF FINANCIAL LITERACY QUESTIONS CORRECTLY COMPARED TO THE 66% OF MEN ANSWERING THE SAME QUESTIONS. LET'S BRING IN TO DISCUSS THIS A.

LITTLE MORE, AND HOW WE CAN REALLY CLOSE THAT GAP HERE. VITAL, WHO IS JOINING US AND SORBET COFOUNDER AND CEO. THANK YOU SO MUCH FOR TAKING THE TIME. YOU HEAR A STAT LIKE THAT, WHAT NEEDS TO CHANGE IN HOW WE'RE EDUCATING PEOPLE BROADLY AND.

MAKING SURE THAT WE'RE ALSO CLOSING THAT GAP. >> WELL, I THINK FIRST OF ALL IT'S NOT JUST A GENDER ISSUE. GENERALLY SPEAKING ABOUT 55% OF AMERICANS SAY THAT THEY'RE SCARED TO LOOK INTO THEIR BANK ACCOUNT. BY NATURE, THERE'S ALWAYS A.

LITTLE BIT OF A GAP BETWEEN MEN AND WOMEN AS WELL, AND SO A LOT OF IT SHOULD CHANGE ON EDUCATIONAL LEVEL, BUT I THINK PEOPLE, YOU KNOW, ARE A LOT MORE SCARED THAN THEY SHOULD BE. IT'S NOT THAT SCARED, AND THERE ARE BABY STEPS YOU CAN TAKE TO REGAIN AGENCY, AND EMPOWER.

YOURSELF TO TAKE CONTROL OVER YOUR FINANCES. >> SOME OF THE TIPS THAT YOU HAVE OUT THERE INCLUDE RESETTING YOUR BUDGET FOR TODAY'S PRICES, SO ADJUSTING YOUR OWN SPENDING HABITS FOR INFLATION PERHAPS IS THE BEST WAY YOU CAN SUMMARIZE IT HERE.

HOW CAN PEOPLE PUT THAT INTO MOTION, AND LEVERAGE SOME OF THE NEW FINANCIAL LITERACY TERMS THEY MAY USE AND LEARN IN APRIL, IN ORDER TO ADEQUATELY DO SO. >> ONE THING IS FIRST TO RECOGNIZE THAT THINGS ARE A LITTLE BIT MORE EXPENSIVE THAN THEY USED TO BE.

IT'S ABOUT BEING A LITTLE BIT MORE CONSCIOUS, YOU ARE, YOU KNOW, KIND OF HABITUALLY CONSUMING. THEIR PRICES MAY HAVE CHANGED IN THE LAST FEW MONTHS, AND WE'RE DEFINITELY ALL FEELING IT IN OUR POCKETS. SO MONITORING THAT AND NOT GOING.

ON AUTO PILOT AND LOOKING INTO THINGS LIKE SUBSCRIPTIONS OR THINGS THAT YOU HAVE ON AUTO PAY, AND MAKING SURE THAT, YOU KNOW, THESE DON'T CREEP UP ON YOU, AND THEY HAVE BECOME A LOT MORE EXPENSIVE THAN YOU WERE USED TO IN THE PAST. >> I WONDER AND WE'RE GOING TO.

DO A ROUND UP. JUST GOT THIS IDEA, IT'S FRESH. HAVEN'T TOLD THE PRODUCERS YET. WE'RE STARTING HERE, YOUR FAVORITE TERM THAT PEOPLE SHOULD REMEMBER OVER THE COURSE OF FINANCIAL AND LITERACY MONTH. >> I THINK ONE OF MY FAVORITE HACKS IS TELLING PEOPLE TO LOOK.

INTO THEIR AND BENEFITS THAT THEY RECEIVE FROM THEIR EMPLOYERS. A LOT OF PEOPLE ARE NOT AWARE OF THAT, BUT IN YOUR BENEFITS PACKAGE, IN YOUR WORK. THERE'S A LOT OF HIDDEN CASH, AND IN FACT, ONE OF MY FAVORITE HACKS IS LOOKING INTO YOUR PAID.

TIME OFF. YOU TOUCHED ON THAT IN YOUR PREVIOUS SEGMENT, BUT PEOPLE ACROSS THE U.S. GET A SUBSTANTIAL AMOUNT OF PAID TIME OFF PAID BY THEIR EMPLOYER. THEY DON'T END UP USING IT, AND WE'RE KIND OF PROGRAMMED TO THINK ABOUT IT IN TERMS OF.

VACATION DAYS WE CAN TAKE. THOSE ARE ACTUALLY WORTH DOLLARS AND CENTS, AND THAT'S A REALLY INTERESTING HACK THAT I WOULD RECOMMEND PEOPLE LOOK INTO. >> CERTAINLY. AS WE THINK ABOUT THE THERAPY THAT'S INVOLVED FOR YOURSELF AS WELL, AND WE'RE LOOKING AT SOME.

OF THE FAST STATS ON YOUR COMPANY HERE, AMAZING WORK THAT YOU HAVE BEEN ABLE TO PUT FORTH HERE, WHERE DO YOU SEE AND ENVISION PEOPLE BEING ABLE TO BE THEIR OWN FINANCIAL THERAPIST ALONG THE WAY AS WELL BECAUSE THE MENTALITY NEEDS TO SHIFT IF YOU'RE GOING TO SEE A CONCERTED.

EFFORT REALLY PAY OFF FOR AN EXTENDED PERIOD OF TIME. >> SO A LOT OF IT IS AWARENESS AND EDUCATION, AND PEOPLE ARE INTIMIDATED BY IT AS WE SAID BEFORE, EVEN LOOKING INTO THEIR BANK ACCOUNT. IT'S AS SIMPLE AS LOOKING, RIGHT?.

GO INTO YOUR BANK ACCOUNT. LOOK AT YOUR LAST FEW STATEMENTS. UNDERSTAND WHAT YOU'RE SPENDING MONEY ON. IT'S NOT THAT COMPLICATED. PEOPLE FEEL LIKE THEY NEED TO BE SUPER FINANCIALLY SOPHISTICATED. IT'S NOT REALLY THAT.

COMPLICATED. LOOK INTO THE LAST FEW MONTHS, UNDERSTAND WHAT YOU'RE SPENDING ON. UNDERSTAND THINGS THAT MAY HAVE BECOME MORE EXPENSIVE, AS WE SAID BEFORE. READ YOUR EMPLOYEE HANDBOOK, UNDERSTAND YOUR EMPLOYEE.

BENEFITS, IT'S NOT THAT COMPLICATED. START BY JUST EDUCATING YOURSELF. THAT'S THE FIRST STEP. A LOT OF THINGS WILL BECOME A LOT EASIER ONCE YOU UNDERSTAND WHAT YOU HAVE AND WHERE YOU ARE, AND THEN TAKING STEPS TO IMPROVE.

ON THAT WILL COME VERY EASILY THERE THEREAFTER. >> THANK YOU SO MUCH FOR TAKING THE TIME. SORBET COFOUNDER AND CEO, LOOK FORWARD TO CHECKING BACK IN IN THE FUTURE AS WELL. >> THANK YOU SO MUCH FOR HAVING ME.

>> CERTAINLY. >>> UP NEXT, HIGHER FOR LONGER INTEREST RATES, WE BREAK DOWN WHY IT MIGHT NOT BE SO BAD RIGHT AFTER THE BREAK. >>> BY NOW WE HAVE ALL HEARD HIGHER FOR LONGER, MEANING INTEREST RATES FOR CREDIT CARDS, MORTGAGES, LOANS, ANYTHING THAT.

REQUIRES YOU TO BORROW MONEY HAS A HIGHER INTEREST RATE FOR THE FORESEEABLE FUTURE. IN THE BACKGROUND, GET THIS, THERE'S AN ENTIRE SECONDARY MARKET, PACKAGING UP LOANS AND SELLING THEM TO INVESTORS. WHICH MEANS A LOWER INTEREST RAL.

RATE FOR YOU. THAT'S CALLED DEBT SECURITIZATION. PACKAGING DEBTS IN A SINGLE SECURITY TO BE SOLD TO INVESTORS. IF A BUNCH OF FRIENDS OWE CASH, I CAN BUNDLE THE AMOUNT DAY OWE ME, WHICH SPREADS THE RISK FROM.

RELIABLE TO LESS RELIABLE FRIENDS AND SELL TO INVESTORS AS A SECURITY, WHICH IS A FUNGIBLE AND TRADEABLE FINANCIAL INSTRUMENT USED TO RAISE CAPITAL IN PUBLIC AND PRIVATE MARKETS. THE WIN FOR TRADERS, A NEW LOWER RISK INVESTMENT, AND BORROWERS GET A LOWER INTEREST RATE.

TO BREAK DOWN WHAT THIS ALL MEANS FOR YOU AND YOUR LOANS, WE HAVE BROUGHT IN THE SPECIALIST HERE, MICHAEL BRIGHT, STRUCTURED FINANCIAL ASSOCIATION CEO HERE WITH US. MIKE, FIRST AND FOREMOST, WHY IS THIS SOMETHING THAT IS IN THE MARKETS.

WHY IS THIS ALSO BENEFICIAL TO THOSE WHO ARE SEEKING A LOAN? >> WELL, THANKS FOR HAVING ME, I ENJOY SPEAKING WITH YOU AND YOUR AUDIENCE. I THINK YOU DID A PRETTY GOOD JOB RIGHT NOW. I'M NOT SURE YOU NEED ME. >> DON'T GO ANYWHERE.

>> NO, YOU'VE BASICALLY CAPTURED IT, BUT WITHOUT SECURITIZATION, WITHOUT THE STRUCTURED FINANCE INDUSTRY, ESSENTIALLY IF YOU NEED A LOAN FOR WHETHER IT BE A CAR OR CREDIT CARD OR MORTGAGE, YOU HAVE TO GO TO THE BANK AND THE BANK MAKES THE INDIVIDUAL DECISION FOR YOU, AND THE LOAN.

WOULD SIT ON THE BANK'S BALANCE SHEET. THAT'S WHAT WE HAD IN OUR ECONOMY, REALLY UP UNTIL THE GREAT DEPRESSION, AND SOME COUNTRIES THAT ARE DEVELOPING STILL HAVE THAT AS WELL. BUT WITH THE BOND MARKET BEING PART OF THE EQUATION AND THE.

SECURITIZATION, AND STRUCTURED FINANCE BEING PART OF THE EQUATION, YOUR MORTGAGE MAY BE OWNED BY THE BANK OF JAPAN, MAY BE OWNED BY, YOU KNOW, OIL MONEY IN THE MIDDLE EAST. AND WHAT THAT DOES IS THAT BRINGS ALL THE GLOBAL CAPITAL TO BEAR SO THAT WHEN YOU NEED TO.

GET ACCESS TO CREDIT FOR WHATEVER IT IS YOU'RE ATTEMPTING TO BORROW TO PURCHASE, YOU'RE NOT JUST RELYING ON ONE OR TWO BANKS TO DO IT. THE BANKS ARE ACTUALLY FACILITATORS OF MAKE YOUING YOU LOAN, BUNDLING THAT LOAN, AND SELLING TO AN INVESTOR GLOBALLY.

YOU HAVE GLOBAL CAPITAL THAT COMES IN THAT CAN BE BORROWED, AND THOSE INVESTORS CAN MODEL IT USING STATISTICS BECAUSE YOU HAVE A LARGE SAMPLE SIZE. >> HOW DOES THIS IMPACT THINGS LIKE CREDIT CARD RATES? >> WITHOUT THIS RATES WOULD BE HIGHER THAN THEY ARE RIGHT NOW,.

AND THEY WOULD BE MORE VOLATILE. IF YOU DON'T HAVE THE SECURITIZATION INDUSTRY, AND BONDS THAT CAN TRADE GLOBALLY, YOU HAVE SOMETHING THAT'S CALLED PROCYCLICALITY WITH LENDING. THAT MEANS WHEN THE ECONOMY IS GOOD, BANKS ARE WILLING TO LEND, IF THE ECONOMY SLOWS DOWN, BANKS.

PULL BACK. YOU SEE A LOT OF VOLATILITY, NOT ONLY IN THE RATE ITSELF BUT WHETHER OR NOT YOU CAN EVEN ACTUALLY ACCESS CREDIT UNDER OLDER SYSTEMS. IF YOU HAVE A GLOBAL SYSTEM WHERE YOU HAVE TENS OF TRILLIONS OF DOLLARS OF INVESTMENT MONEY.

THAT CAN FACILITATE LENDING TO COMMUNITIES ACROSS THE COUNTRY, YOU HAVE LESS VOLATILITY, NET RATES ARE LOWER THAN THEY WOULD BE. I KNOW YOU WERE TALKING ABOUT HIGHER FOR LONGER IN THE FED HAVING TO INCREASE INTEREST RATES AND THAT'S TRUE, BUT BY.

HISTORICAL STANDARDS WE'RE STILL QUITE LOW. >> IT'S INTERESTING, WHEN YOU'VE GOT A SECONDARY MARKET LIKE THIS, SOME PEOPLE MIGHT THINK ABOUT THE BIG SHORT. AND ULTIMATELY HOW WE AVERT THAT REOCCURRING ONCE AGAIN HERE, ESPECIALLY WITH US HAVING.

STARING DOWN, WE HAVE BEEN STARING DOWN A RECESSION WITH THE LIKELIHOOD OF A RECESSION FOR ABOUT 18 MONTHS, MAYBE EVEN TWO YEARS AT THIS JUNCTURE. AND STILL WAITING FOR IT TO POTENTIALLY HAPPEN EVEN THOUGH WE SEE RESILIENCY CONTINUES TO SHINE THROUGH.

SO ALL OF THAT CONSIDERED, HOW DO WE AVERT THAT HAPPENING WITH THE SECONDARY MARKET LIKE THIS? >> YEAH, SO NO MATTER HOW BIG THE SECONDARY MARKET IS, NO MATTER HOW MUCH GLOBAL CAPITAL THERE IS, NO MATTER HOW MUCH STATISTICS YOU USE, IF THE LOAN AT THE FRONT END IS A BAD LOAN,.

WHETHER THE UNDERWRITING WAS DONE PROPERLY, YOU KNOW, SOMEONE WAS SOLD A LOAN THEY PROBABLY SHOULDN'T HAVE BEEN SOLD, COULDN'T AFFORD, YOU KNOW, FRAUD OF PEOPLE FLIPPING HOUSES, ALL OF THESE THINGS THAT OCCURRED IN THE YEARS LEADING UP TO THE GREAT FINANCIAL CRISIS OF 2008.

AND 2009, NO MATTER HOW MUCH GLOBAL CAPITAL IS THERE AND HOW MUCH YOU USE, IF THE LOANS THEMSELVES ARE NOT GOOD, THEN IT'S ALL GOING TO BREAK DOWN, AND THAT'S EXACTLY WHAT WE SAW. THE GOOD NEWS IS CONGRESS PASSED SOME VERY MEANINGFUL REFORMS IN THE WAKE OF THE FINANCIAL.

CRISIS, AND SO NOW THERE'S A LOT MORE SAFEGUARDS ON WHAT YOU NEED TO DO BEFORE YOU GIVE A BORROWER A LOAN TO MAKE SURE THEY CAN REPAY IT. >> WHAT'S THE BEST WAY THAT BORROWERS CAN TAKE ADVANTAGE OF OR MAXIMIZE THEIR POSSIBLY LOAN OR PROFILE, THEIR WORTHINESS IN.

THE SECONDARY MARKET AND WITH THE SECURITIZATION THAT TAKES PLACE? >> ABSOLUTELY. SO BORROWERS SHOULD BE AWARE WHAT THEIR CREDIT SCORE IS. THIS IS A VERY IMPORTANT DATA INPUT INTO LENDING. ONE OF THE VERY FIRST THINGS.

PEOPLE WILL LOOK AT IS HOW MUCH MONEY DO YOU HAVE, HOW MUCH ACCESS TO CREDIT DO YOU HAVE, WHAT'S YOUR CREDIT SCORE. THERE ARE CREDIT COMPANIES THAT CAN PROVIDE THE CREDIT SCORE. BEWARE OF YOUR CREDIT SCORE, PAY YOUR BILLS ON TIME AS MUCH AS YOU CAN.

IT'S OKAY TO USE YOUR CREDIT CARD, I DO, WE ALL DO, IT'S GOOD TO HAVE A MORTGAGE LOAN IF YOU NEED, IT'S OKAY TO HAVE AN AUTO LOAN. THE MORE YOU CAN PAY ON TIME, THE HIGHER THE CREDIT SCORE. BY BORROWING AND PAYING THE MONEY BACK ON TIME, YOUR CREDIT.

SCORE GOES UP AND IT'S EASIER TO BORROW. IF YOU GET YOURSELF IN A SITUATION, AND YOU'RE NOT ABLE TO PAY YOUR BILLS REGULARLY AND ON TIME, THAT CAN IMPACT YOUR CREDIT SCORE, AND THAT GETS PUT INTO THE MODELING AND DETERMINES WHETHER OR NOT YOU CAN GET A.

LOAN AND AT WHAT RATE. >> LASTLY WHILE WE HAVE YOU HERE, BUNDLED SECURITY, A LOT OF PEOPLE MIGHT SEE THAT, HEAR THAT, AND SAY I DON'T KNOW WHAT THE HECK THAT IS, EVEN THOUGH WE HAVE BROKEN DOWN WHAT DEBT SECURITIZATION IS, WITHIN DEBT SECURITIZATION, WHAT IS A.

BUNDLED SECURITY? >> BASICALLY, IT IS, LIKE I SAID, YOU DID A GOOD JOB AT THE VERY BEGINNING. IF YOU TAKE A BUNCH OF LOANS THAT ARE ALL SIMILAR LOOKING, A BUNCH OF BORROWERS WHO HAVE SIMILAR, LET'S SAY CREDIT PROFILES, SIMILAR EMPLOYMENT.

HISTORY, SIMILAR INCOME, SIMILAR AMOUNTS OF DEBT, YOU HAVE NO IDEA IF THERE WILL BE A LIFE EVENT FOR ONE OF THOSE PARTICULAR BORROWERS. THINGS HAPPEN. BUT IF YOU PUT THEM ALL TOGETHER, IF YOU JUST INFECT THE SORT OF BASIC STATISTICS, YOU.

HAVE A CURVE THAT HAPPENS, AND YOU CAN MANAGE AVERAGES AND USE THE STATISTICS TO MAKE PREDICTIVE BEHAVIORAL OUTCOMES, BUT YOU NEED ENOUGH OF THE INPUT IN ORDER TO DO THAT. THE MORE LOANS YOU PUT TOGETHER INTO A BUNDLE. THE MORE LIKELY YOU CAN USE.

MODELS TO PREDICT BEHAVIOR OF BORROWERS, WHETHER THEY'RE GOING TO PREPAY THE LOAN OR HAVE A LIFE EVENT THAT COULD LEAD TO A DEFAULT, WHEN YOU HAVE ALL OF THAT STUFF BUNDLED TOGETHER, YOU CAN MODEL WELL, AND THERE'S A WHOLE WORLD OF DATA OUT THERE THE INDUSTRY, WALL STREET, AND.

GLOBAL INVESTORS USE FOR DOING THAT. THEN IT MAKES IT EASIER TO FACILITATE THE CREDIT LEND, AND YOU CAN DO IT AT A LOWER RATE. IT'S REALLY ABOUT THE POOLING. >> MICHAEL, THANK YOU SO MUCH FOR TAKING THE TIME WITH US TODAY.

REALLY APPRECIATE IT. MICHAEL BRIGHT, STRUCTURE FINANCE ASSOCIATION CEO. >> THANK YOU. >>> COMING UP, IT'S THE RETURN OF THE MACK, ROSS MAC, WE DIVE INTO MAC-NOMICS WITH TODAY'S TOPIC, SPORTS BETTING. FIRST, ROSS MAC GIVES US THE LOW.

DOWN ON THE IMPORTANCE OF FRIDAY'S JOBS REPORT. TAKE A LOOK ♪ >>> DID YOU KNOW THE U.S. ECONOMY GETS A MONTHLY REPORT CARD. YEP, AND IT'S CALLED THE JOBS REPORT.

AND IT'S RELEASED ON THE FIRST FRIDAY OF EVERY MONTH BY THE BUREAU OF LABOR STATISTICS TO PAINT A PICTURE OF JUST HOW GOOD THE OVERALL ECONOMY IS DOING. NOW, LOOK THE PRIMARY DATA POINTS THAT INVESTORS FOCUS ON ARE HOW MANY JOBS ARE CREATED, THE UNEMPLOYMENT RATE, AND WAGE.

GROWTH. LET ME BREAK ALL OF THAT DOWN FOR YOU. FIRST THINGS FIRST, NONFARM PAYROLLS, AND THAT'S GOING TO MONITOR FULL AND PART-TIME JOB CREATION, WHILE EXCLUDEING SEASONAL JOBS LIKE FARMERS. YOU'VE GOT THE UNEMPLOYMENT.

RATE, THE TOTAL NUMBER OF PEOPLE IN THE WORK FORCE THAT DON'T HAVE JOBS, WHO ARE OUT LOOKING FOR ONE, AND LASTLY, THE AVERAGE HOURLY EARNINGS OR WAGE RATE, AND THAT'S GOING TO MEASURE HOW MUCH WORK IS EARNED IN EACH RESPECTIVE INDUSTRY. YOU HAVE TO ASK THE QUESTION,.

WHY DOES THIS MATTER? IT DIRECTLY IMPACTS EVERYTHING FROM POLICY DECISIONS IN WASHINGTON, D.C. TO THE INTEREST RATES ON YOUR LOANS AND EVEN THE STOCK MARKET PERFORMANCE. FOR INSTANCE, A SURGE IN EMPLOYMENT, NEWSCATHAT'S GOING SUGGEST BUSINESSES ARE BOOMING,.

HIGHER INCOMES AND OVERALL CONSUMER CONFIDENCE. IF UNEMPLOYMENT TICKS UP, IT MIGHT SIGNAL ECONOMIC TROUBLE IS AHEAD. WHEN JOB GROWTH IS A LITTLE TOO RAPID, IT CAN ALSO SIGNAL INFLATION, POSSIBLY AFFECTING EVERYTHING FROM YOUR MORTGAGE.

RATE TO THE COST OF GROCERIES. THIS REPORT GIVES US VALUABLE INSIGHT, AND OVER THE LONG-TERM, AS UNEMPLOYMENT FALLS, THE STOCK MARKET, IT TENDS TO GO HIGHER. IT'S YOUR BOY ROSS MAC, AND THIS IS MAC-NOMICS FOR YAHOO! FINANCE. >>> MARCH MADNESS, THE NCAA.

COLLEGE BASKETBALL TOURNAMENT COMING TO A CLOSE WITH THE MEN'S FINAL FOUR GAMES ON SATURDAY, THAT'S FOLLOWED BY THE CHAMPIONSHIPS ON MONDAY, AND DON'T FORGET ABOUT THE WOMEN'S FINAL FOUR. THAT'S FRIDAY WITH THEIR CHAMPIONSHIP ON SUNDAY.

AMERICANS EXPECTED TO BET OVER $2.7 BILLION BY THE END OF THE TOURNAMENT. THAT'S DOUBLE THE AMOUNT OF SUPER BOWL BETS ACCORDING TO THE AMERICAN GAMING ASSOCIATION. IF YOU TAKE A LOOK AT MY BRACKET, THE PRODUCERS AIRING ME OUT.

WE CAN HAVE FUN ON THIS ONE, THOUGH. HOW CAN WE HAVE A LITTLE FUN SAFELY BETTING ON THE GAMES WITHOUT LOSING OUR SHIRTS HERE? JOINING ME NOW, WE HAVE ROSS MAC, PERSONAL FINANCE EXPERT AND CREATOR OF MAC-NOMICS. I DON'T KNOW HOW YOUR BRACKET.

LOOKS, HOPEFULLY BETTER THAN MINE. I DON'T HAVE ANY FINAL FOUR TEAMS. HOW CAN PEOPLE MAKE SURE THEY DON'T OVER BET. >> ONE, THANKS FOR HAVING ME. TWO, MY BRACKET IS JUST AS BAD, I HAVE UCONN LEFT, I HAD PURDUE.

LOSING EARLY. HOW CAN YOU MAKE SURE YOU DON'T LOSE YOUR SHIRT BETTING. IN ORDER TO TRULY HAVE FUN, YOU SHOULD NOT BE USING MONEY THAT YOU CAN'T AFFORD TO LOSE, RIGHT? DO NOT BET MONEY YOU CAN'T AFFORD TO LOSE. THERE'S AN OLD SAYING, RIGHT,.

VEGAS ALWAYS WINS. THE BIGGEST THING TO REALIZE IS THE MOMENT THAT YOU START LOOKING AT THESE PARLAYS, I THINK WE HAVE ALL SEEN ON SOCIAL MEDIA SOMEONE TURNING $10 INTO $250,000, RIGHT, EVERYBODY NOW WANTS TO DO IT, RIGHT, BUT UNDERSTAND THE ACTUAL ODDS OF.

HITTING PARLAYS, THEY GO DOWN CONSIDERABLY EVERY TIME YOU ADD A NEW LEG, AND BY DEFINITION, A LEG IS ANOTHER BET ON THE SAME EXACT TICKET. USING STATISTICS, RIGHT, BY HAVING A TEN-LEG PARLAY, YOU HAVE LESS THAN A .15% CHANCE OF WINNING.

FIVE LEGS ON THE SAME BETTING SLIP, LESS THAN A 4% CHANCE OF WINNING. ANYTIME YOU SEE SOMEONE WINNING A BIG PARLAY BET, UNDERSTAND THAT'S MARKETING. ALL THEY'RE TRYING TO DO IS GET YOU TO FIND A WAY TO SAY LET ME GET YOUR $10, $20, EVERY PERSON.

THAT WINS THAT $200,000, THERE'S 200,000 PEOPLE THAT JUST LOST $10 TRYING TO REPLICATE THE SAME THING. IN ORDER TO NOT LOSE YOUR SHIRT, DON'T BET MONEY YOU CAN'T AFFORD TO LOSE. I DON'T RECOMMEND GAMBLING, IF YOU ARE TO DO IT AND TRYING TO.

HAVE FUN. IT'S BEST TO DO SINGLE BETS. >> WHAT IF YOU'RE MORE OF AN INVESTOR THAN A GAMBLER, SHOULD YOU CONSIDER BUYING SHARES OF A BETTING COMPANY EVEN? >> I LOVE THE IDEA, RIGHT. I DON'T OWN ANY AS OF NOW, BUT IF YOU ARE LOVING THE OVERALL.

KIND OF FOMO, PEOPLE STARTING TO SPORTS BET. OTHER STATES FINALLY LEGALIZING IT, YEAH, THE ANSWER IS YES, RIGHT. I WOULD OBVIOUSLY DO YOUR OWN DUE DILIGENCE AND LOOK TO SEE WHICH COMPANIES HAS MORE CASH, MORE REVENUE, SPENDING LESS.

CASH, RIGHT, OBVIOUSLY ANYTIME YOU TURN ON THE TV, WHEN YOU SEE AN ADVERTISEMENT, THEY'RE SPENDING A LOT OF CASH. I THINK OVERALL, WHEN IT'S ALL SAID AND DONE, YOU HAVE THE ABILITY, WHEN YOUR FRIENDS SAY, OH, I ALMOST WON THIS PARLAY. GUESS WHAT, THAT PERSON IS NOW.

PAYING YOU. >> THAT'S RIGHT. ANYTIME YOU SEE JB SMOOTH POP UP IN AN ADD FOR ONE OF THE BETTING APPS, MORE THAN LIKELY THAT MEANS AEN A CO COMPANY IS SPEND HEAVILY ON THE ACQUISITION. VERY CREATIVE. JUST LAST THING, WHILE WE HAVE.

YOU, HOW CAN WE MAKE SURE THAT PEOPLE ARE INVESTING LIKE AN NCAA ALL STAR HERE? >> I LOVE IT, RIGHT. WHAT I WOULD SAY IS YOU HAVE TO DO IT AUTOMATED. RIGHT? TAKE ALL THE GUESSING WORK OUT. FIND A VERY SAFE ETF, RIGHT, I.

ALWAYS RECOMMEND THE VERY FIRST ONE YOU BUY IS THE S&P 500, AND GUESS WHAT, TAKE ALL THE GUESSING WORK OUT. WE'RE ALL USED TO PAYING BILLS ON A MONTHLY BASIS, HOW ABOUT PAY YOUR FUTURE SELF ON A MONTHLY BASIS, BY SETTING UP AUT.

AUTOMATED INVESTING AND THE S&P 500. >> WHO DO YOU GOT WIN SOMETHING. >> UCONN AND FOR THE LADIES, I HAVE SOUTHERN CAROLINA. >> SOUTH CAROLINA, WE'LL SEE, WE'LL SEE. GREAT PROGRAM OVER THERE, AND GREAT PROGRAM AT UCONN AS WELL.

>> GAMECOCKS. >> THERE YOU GO. ROSS MAC, THANK YOU SO MUCH FOR TAKING THE TIME. >> THANKS FOR HAVING ME. >> GOOD TO SEE YOU. >>> THERE'S EMPLOYER SPONSORED ACCOUNTS THAT HELP YOU BUILD WEALTH THAT YOU MAY QUALIFY FOR.

THAT YOU MAY NOT TAKE ADVANTAGE OF. I DON'T MEAN THE 401(k), I'M TALKING ABOUT THE HEALTH SAVINGS ACCOUNT. YOU COULD BE BUILDING STACKS OF ADVANTAGE RIGHT NOW, MONEY YOU COULD GROW WITH THE MARKETS TO PAY THE MEDICAL EXPENSES DOWN.

THE LINE, AND HERE TO TELL YOU ALL ABOUT IT, WE HAVE JENNIFER STREAKS, BUSINESS INSIDER, GREAT TO SEE YOU HERE. A LOT OF PEOPLE ARE MISSING OUT ON THIS RIGHT NOW. HOW CAN THEY MAKE SURE THEY ARE GETTING INTO THE RIGHT, AND TAKING ADVANTAGE OF THIS HSA?.

>> WELL, THANKS FOR HAVING ME. BUT, YEAH, THE HSA IS A COMMON HEALTH PLAN THAT MOST PEOPLE DO NOT KNOW ABOUT. IT'S THROUGH YOUR EMPLOYER. YOU JUST SIGN UP WITH IT, THE SAME WAY YOU WOULD WITH YOUR 401(k) AND START IMMEDIATELY TAKING ADVANTAGE OF THE TAX.

BENEFITS. >> AND SO, WHAT CAN YOU USE THOSE HSA DOLLARS FOR TYPICALLY? >> YOU SHOULD THINK ABOUT IT AS A BANK ACCOUNT FOR YOUR HEALTH. FOR YOUR MEDICAL EXPENSES. IT'S FOR QUALIFIED MEDICAL EXPENSE, THINGS THAT AREN'T GOING TO BE COVERED BY YOUR.

REGULAR HEALTH INSURANCE PLAN. AND THERE'S A LONG LIST. YOU CHECK TO SEE WHAT YOUR PLAN WILL COVER, AND YOU CAN REIMBURSE YOURSELF IF YOU HAVE TO COME OUT OF POCKET FOR THOSE EXPENSES. >> SO WHEN SHOULD PEOPLE START INVESTING IN AN HSA ACCOUNT, AND.

MAKING SURE THAT THERE ARE FUNDS THAT ARE GOING IN THERE? >> AS SOON AS YOU CAN. I HAVE ONE. AND I LOVE IT. I GET TO REIMBURSE MYSELF OR IF I DON'T WANT TO REIMBURSE MYSELF, MY CONTRIBUTIONS ACTUALLY REDUCE MY TAXABLE.

INCOME. SO IT'S BENEFICIAL TO ME, EVEN IF I'M NOT ACTIVELY USING IT. >> YOU MENTIONED THE TAX BENEFIT THERE. WHAT ARE THE TYPICAL TAX BENEFITS OF HSA ACCOUNTS? >> THEY REDUCE YOUR TAXABLE INCOME.

YOUR GROWTH, ANY OF THE GROWTH, ANY OF THE INTEREST THAT COMES OUT OF THAT ACCOUNT IS ALSO TAX FREE. AND YOUR WITHDRAWALS ARE TAX FREE AS LONG AS YOU USE THEM FOR QUALIFIED MEDICAL EXPENSES. SO IT'S A TRIPLE TAX BENEFIT. >> AND THEN THE ELIGIBILITY.

HERE, I MEAN, HOW DO PEOPLE GO ABOUT ASSESSING THEIR ELIGIBILITY TO CONTRIBUTE TO AN HSA? >> WELL, YOU HAVE TO HAVE A HIGH DEDUCTIBLE HEALTH PLAN, SO YOU NEED TO CHECK WITH YOUR EMPLOYER, SEE WHAT YOUR DEDUCTION IS, LOOK AT YOUR PLAN,.

THE HEALTH PLAN, YOUR NUMBER ONE PLAN FIRST, AND SEE WHAT YOUR DEDUCTIBLE IS, AND THAT WILL TELL YOU WHETHER OR NOT YOU'RE ELIGIBLE FOR HSA. >> JUST LASTLY, WHILE WE HAVE YOU HERE, I MEAN, THE DOLLARS THAT PEOPLE ARE PUTTING AWAY, IT GETS CUT INTO A LITTLE BIT MORE.

AS THE EXPENSES OR THE COSTS OF CERTAIN SERVICES GO HIGHER WITHIN THE HEALTH CARE INDUSTRY AS WELL. HOW CAN PEOPLE ADEQUATELY ASSESS THE AMOUNT THAT THEY'RE PUTTING INTO THAT SPENDING ACCOUNT? >> I THINK THAT IT DEPENDS ON WHAT YOUR HEALTH NEEDS ARE GOING.

TO BE OVER THE COURSE OF THE YEAR. WE ALL KNOW WHAT OUR WELL CHECKUPS ARE GOING TO BE, WHAT YOUR DENTAL EXPENSES ARE GOING TO BE. IF YOU NEED TO INCREASE YOUR CONTRIBUTIONS INTO THAT, SO YOU BASICALLY MAKE A BUDGET FOR YOUR.

HEALTH CARE. AND YOU DECIDE BASED ON THAT WHAT YOU'RE GOING TO NEED TO CONTRIBUTE. >> JENNIFER STREAKS, BUSINESS INSIDER SENIOR PERSONAL FINANCE REPORTER AND SPOKESPERSON, JENNIFER, GREAT TO SEE YOU. THANKS FOR TAKING THE TIME.

>> THANK YOU. >>> WE'RE NEARING THE CLOSE OF THE SECOND WEEK OF OUR BRAND NEW SHOW, 11:00 A.M. SHOW, BY THE WAY, “WEALTH,” AND WE WANT TO SHOW YOU SOME OF THE HIGHLIGHTS OVER THE PAST WEEK. TAKE A LOOK. >> WELCOME TO “WEALTH,”.

EVERYONE, I'M BRAD SMITH, AND THIS IS YAHOO! FINANCE'S NEWEST GUIDE TO BUILDING YOUR FINANCIAL FOOTPRINT. FROM OUR HAND PICKED COMMUNITY OF EXPERTS, TAKE A LISTEN TO WHAT THEY HAD TO SAY AS WE GOT THE SHOW OFF THE GROUND. >> FINANCIAL LITERACY HAS A.

STIGMA. HOW DO WE IMPLEMENT IT EARLY ON SO IT BECOMES A PART OF OUR LIVES EVERY DAY, A LOT OF LIFE, A LITTLE BIT OF MONEY. >> HALF OF AMERICANS CITE INFLATION AS THE GREATEST OBSTACLE TO FINANCIAL SECURITY. >> PAY YOUR BILLS ON TIME.

LATE PAYMENTS DING YOUR CREDIT SCORE. YOU'VE GOT TO RESOURCE YOUR DEALT. ANYTHING THAT IS GOING TO MAKE YOU A TARGET OF THE HIGH INTEREST RATE ENVIRONMENT, YOU NEED TO TAKE A SECOND LOOK. >> LISTEN, I THINK IT'S SO.

IMPORTANT TO MAKE SURE YOUR HOUSE IS READY FOR SALE. THE KEY THING TO REMEMBER HERE, BRAD, IS NOT TO GO IN DEBT IN ORDER TO DO SO. TRY TO DO THESE UPGRADES AT THE SPEED OF CASH. >> ALL THINGS WITH THE KEYS OF THE CRIB THERE.

APPRECIATE IT. JAY. >> THANKS, BRAD. >> I DON'T FEEL RICHER AFTER THIS SEGMENT, ANDY, I'M GETTING UP, WALKING OFFSET. >> YOU'RE GOING BACK TO THOSE NUMBERS. IF YOU'RE NOT THERE, YOU GOT TO.

FIGURE OUT WHAT THAT NUMBER IS THAT YOU NEED TO HIT. >> FORGET EVERYTHING YOU HAVE BEEN TOLD ABOUT ESTATE PLANNING. IT'S NOT JUST FOR THE WEALTHY. >> THE ESTATE IS FOR THOSE IN BEVERLY HILLS, NO, YOU HAVE LIFE INSURANCE, YOU CREATE AN ESTATE. >> PLANNING THAT EARLY.

RETIREMENT YOU DREAMED OF. HEY, MAYBE. >> IF YOU'RE ONE OF THOSE PEOPLE WHO HAS NOT STARTED YET, GET STARTED. START EARLY ENOUGH, INVEST WISELY, AND MAKE RIGHT AND SMART FINANCIAL MOVES, YOU CAN RETIRE MUCH EARLIER THAN THOSE.

PRECONCEIVED RETIREMENT AGES THAT WE THINK ABOUT. >> IT'S REALLY THE PEOPLE IN THE MIDDLE WHO HAVE TO STRUGGLE FOR SAVING FOR COLLEGE, AND SAVING FOR RETIREMENT AT THE SAME TIME. BECAUSE THE LAST THING YOU WANT TO DO IS RETIRE AND THEN THINK, OH, I'VE MADE A MISTAKE.

>> THERE'S A RESPONSIBLE WAY TO MANAGE COMING INTO A LARGE AMOUNT OF MONEY. >> LONGER TERM, YOU'RE THINKING ABOUT THINGS LIKE GIFTING, ESTATE TAX, ASSET PROTECTION, NOT JUST THE DOLLARS AND SECENT AT THIS POINT, BUT WHAT ARE YOUR GOALS AND VALUES.

>> FIRST AND FOREMOST, I'M GOING TO CHANGE MY GOVERNMENT NAME TO FIRST NAME BLESS, LAST NAME, HIGHLY FAVORED. >> INTRODUCTION TO MAC-NOMICS WITH ONE OF OUR FAVORITE INFLUENCERS, ROSS MAC. >> WHERE IS THE SMART MONEY, THE REALITY IS YOU'RE LOOKING FIVE.

TO TEN YEARS DOWN THE LINE. >> YOU HAVE TO TAKE CARE OF YOUR BIGGEST ASSET IF YOU'RE GOING TO PLAY ON SUNDAY BECAUSE IT'S GOING TO PAY OFF FOR YOU IN THE LONG RUN. >>> WEALTH IS ALL ABOUT BUILDING YOUR WEALTH, GROWING YOUR WEALTH AND MAINTAINING IT, AND WE'VE.

GOT A GOOD ONE HERE FOR YOU TODAY. HERE TO DISCUSS EVERYTHING FROM HOW HE BUILT UP BLACK OPS BASKETBALL ALL THE WAY TO HOW HE'S MAINTAINING HIS OWN PROFILE AND BUILDING PARTNERSHIPS ON TOP OF THAT IN AN AGE AS WELL WHERE A LOT OF ATHLETES LOOK UP TO HIM.

BECAUSE THEY'RE TRYING TO FIGURE OUT HOW THEY CAN DO THE SAME. WE'VE GOT THE FOUNDER AND OWNER OF BLACK OPS BASKETBALL, CHRIS BRICKLEY, GREAT TO SEE YOU, MAN. >> THANKS FOR HAVING ME. >> WALK ME THROUGH YOUR STORY. HOW YOU BUILT A BRAND ON YOUR OWN TERMS.

YOU WERE WITH THE KNICKS ORGANIZATION AT ONE POINT. YOU STEPPED AWAY, YOU SAID I CAN DO MY OWN THING AND BUILD IT FROM THE GROUND UP. >> I WAS WITH THE KNICKS FOR LIKE FOUR SEASONS, YOU KNOW, I STARTED OFF AS AN INTERN. PHIL JACKSON GOT THE JOB,.

CLEARED HOUSE, FIRED EVERYONE, KEPT ME, AND GAVE ME A THREE-YEAR CONTRACT. AFTER THE FIRST YEAR I THOUGHT I THINK I CAN LEAVE AND START MY OWN BUSINESS. I DIDN'T NECESSARILY KNOW I WAS GOING TO BE SUCCESSFUL, BUT I BELIEVED IN MYSELF.

MY FAMILY WAS MAD AT ME, I DIDN'T HAVE HEALTH INSURANCE, THERE WAS NOTHING GUARANTEED, AND SO, YOU KNOW, I LEFT, STARTED BLACK OPS BASKETBALL, YEAR ONE, IT WAS SHAKY, I WAS LIKE, I DON'T KNOW IF I SHOULD HAVE LEFT. BUT IT ALWAYS TAKES TIME.

I BUILT A TEAM AROUND ME, GOT A GREAT MANAGER, AND HAD GREAT INTERNS, A GOOD PR PERSON, AND I GRINDED AND WITH THE HELP OF MY MANAGER WE SIGNED BRAND DEALS, AND IT'S BEEN A SUCCESS. >> BY MANY STANDARDS YOU BROKE THE MOLD FOR TRAINERS OUT THERE TO THINK MORE ABOUT THE.

DIFFERENT STREAMS OF INCOME, AND HOW THAT CAN REDEFINE YOUR OWN FINANCIAL COMFORTS THAT YOU'RE ABLE TO SET IN MOTION. HOW DID YOU AND YOUR TEAM GO ABOUT CONSTRUCTING THAT? >> MOST TRAINERS, YOU HAVE TO RELY ON THE PLAYER. YOU'RE CONSTANTLY ASKING THE.

PLAYER, HITTING THEM WITH AN INVOICE. THAT'S NOT THE MOST COMFORTABLE THING TO DO. I WAS LIKE, OKAY, I NEED TO FIGURE OUT HOW TO MAKE AN INCOME, MAKE SOME MONEY WITHOUT BEING LIKE CARMELO, HAVE I HAVE SOME MONEY, EVEN THOUGH I KNOW.

I'M DOING THE WORK. SO, YOU KNOW, WE STARTED HITTING UP THESE BRANDS AND STARTED OFF WITH PUMA, THAT WAS THE FIRST TRAINER WITH THE SNEAKER DEAL. HAD MY OWN SNEAKER. I LIKE YOUR PUMAS, GREAT PUMAS RIGHT THERE. >> HAD TO GO GREMLIN STATUS WITH.

IT, YES. >> I LIKE THOSE. THAT WAS THE BIG, LIKE, TO GET A SNEAKER DEAL, THAT'S THE MAIN DEAL. FROM THERE I STARTED GETTING BODY ARMOUR, AND GOOGLE PIXEL, AND BOZE AND NBC 2K, AND IT KEPT GOING.

MY MANAGER AND I ARE TRYING TO BUILD AN EMPIRE. >> ABSOLUTELY. IN THAT EMPIRE, LET'S TALK ABOUT THE BRAND PARTNERSHIPS A LITTLE BIT. I IMAGINE THERE'S A GREAT DEAL OF YOUNG ATHLETES THAT LOOK AT HOW YOU WERE ABLE TO CREATE.

SUCCESS FOR YOURSELF, AND SAY HOW DO I WORK TOWARD SOMETHING LIKE THAT, AND AT THE SAME TIME, HOW DO YOU EVALUATE WHAT A GOOD BRAND PARTNER IS? >> THAT'S A GREAT QUESTION. AT FIRST, I WAS TAKING ANY DEAL I COULD GET. THE FIRST DEAL THAT MY MANAGER.

GOT ME WAS WELCH'S GRAPE JUICE, A $5,000 DEAL, I'M LIKE, WOW, THEY'RE PAYING ME $5,000 TO DO AN INSTAGRAM POST. I TOOK THAT. FAST FORWARD TO NOW, IT'S LIKE A VERY IN-DEPTH PROCESS, LIKE, WHERE I'M ABOUT TO DO A DEAL WITH DOORDASH, WHY DOES IT MAKE.

SENSE. I'M DOING WORKOUTS ALL DAY, SOMETIMES I GET HUNGRY, AFTER THE WORKOUT, WE CAN GO OVER TO THIS LIKE MACHINE AND ORDER FOOD, AND THAT WORKS. WHY DOES THERABODY WORK, THE PLAYERS NEED TO RECOVER. IF IT WORKS FOR ME AND WORKS FOR.

THE PLAYERS, THAT'S USUALLY A GOOD DEAL. >> WHAT DO YOU THINK ABOUT THE ENTIRE NIL ERA RIGHT NOW? YOU'VE GOT IT ACROSS SPORTS, ACROSS BOTH GENDERS, SO MEN'S AND WOMEN'S, AND WE'RE SEEING THAT PLAY OUT IN MARCH MADNESS TOO THIS YEAR.

>> THE NIL THING, COMPANIES ARE STILL FIGURING IT OUT. SOME COMPANIES, THEY DON'T KNOW. I FEEL LIKE ON THE WOMEN'S SIDE, TO START WITH THE WOMEN'S AND MEN'S THING, THREE NIL, ON THE MEN'S SIDE, THREE PLAYERS HAVE DEALS. ON THE WOMEN'S SIDE, 15 PLAYERS.

HAVE DEALS. MEN GO ONE AND DONE. FRESHMAN AND YOU LEAVE. IN WOMEN'S YOU GET TO SEE THEIR STORY PLAY OUT. ANGEL REESE COMES BACK, CAITLIN CLARK COMES BACK, REAL STORIES. THEY'RE THERE FOR FOUR YEARS. THEY HAVE A CAREER.

I THINK ON THE MEN'S SIDE, THEY'RE THERE FOR LIKE SIX MONTHS AND THEY LEAVE. SO I THINK THE FUTURE OF THE NIL DEFINITELY LAYS ON THE WOMEN'S SIDE, BUT IT'S DEFINITELY INTERESTING. >> AS WE WERE WATCHING MARCH MADNESS, WE WERE TALKING ABOUT.

THIS BEFORE WE SAT DOWN, HOW REMARKABLE THE WOMEN'S SIDE OF THE TOURNAMENT HAS BEEN THIS YEAR TO WATCH RIGHT NOW. YOU KNOW, JUST YOUR TAKE AWAYS FROM THE TOURNAMENT. >> YEAH. CAITLIN CLARK, I FEEL LIKE SHE'S TAKING OVER BASKETBALL AS A.

WHOLE. EVERYONE'S TALKING ABOUT CAITLIN CLARK, OVER THE NBA, OVER EVER EVERYTHING. SHE SCORED 41 LAST NIGHT, ALL TIME LEADING SCORER IN THE HISTORY OF THE WOMEN'S BASKETBALL.

SHE JUST SIGNED A HUGE DEAL WITH NIKE. BILLBOARDS ALL OVER THE PLACE. I THINK IT'S A BIG DEAL, AND I'M NOT SURE IF YOU'VE SEEN ICE CUBE, HE OFFERED HER $5 MILLION. >> TO PLAY IN THE BIG THREE INSTEAD. >> THE WNBA, YOU GET $125,000.

FOR A SEASON. SO IT'S INTERESTING. IT'S LIKE WHAT DO YOU DO, DO YOU TAKE THE 5 MILLION? I DON'T KNOW IF YOU'RE GOING TO MAKE 5 MILLION OVER YOUR WHOLE CAREER IN THE WNBA, BUT IT'S THE BIG THREE. IT'S INTERESTING, BASKETBALL,.

AND WOMEN'S BASKETBALL IS AT AN INTERESTING POINT. >> YOU TRAIN WNBA PLAYERS AS WELL. I HAVE SEEN YOUR WORKOUTS WITH STEWY AND JASON SUDEIKIS AS WELL. THERE'S A MASSIVE DISCREPANCY AND DISPARITY BETWEEN THE MEN'S.

AND THE NBA WAGES AND SALARIES VERSUS THE WNBA. NOW, THE WNBA HAS BEEN GROWING IN FANDOM, WE HAVE LOOKED AT THE YEAR-OVER-YEAR STATS, WHAT DO YOU THINK THE NEXT TIPPING POINT IS AS YOU DISCUSS WITH PLAYERS, TEAM OWNERS. >> THEY NEED TO FIGURE OUT A WAY.

FOR THE MONEY STANDPOINT. MOST WNBA PLAYERS, THEY PLAY OVERSEAS BECAUSE THEY DON'T MAKE ENOUGH MONEY JUST TO PLAY IN THE WNBA. THEY END UP PLAYING 12 MONTHS OF THE YEAR, BODIES GET WORN OUT, AND UNLESS YOU'RE LIKE A BRAND, WHERE YOU CAN SIGN BRAND DEALS.

OR SABRINA. THERE'S BEEN BIG MOMENTS, LIKE SABRINA VERSUS STEPH IN THE THREE-POINT CONTEST. WOMEN'S BASKETBALL IS DEFINITELY GETTING MORE POPULAR. >> WE'RE WRAPPING UP TODAY'S SHOW. TUNE IN AT 11:00 A.M. EASTERN.

TOMORROW, WHERE WE'LL DIVE INTO THE GREAT WEALTH TRANSFER AND THE FINAL DAYS OF MARCH MADNESS AND THE NCAA TOURNAMENT. WE'LL BRING YOU OUR CONVERSATION AND THE OTHER SIDE OF THIS CONVERSATION MUCH MORE TO IT WITH CHRIS BRICKLEY, BASKETBALL COACH AND FOUNDER AND OWNER OF.

BLACK OPS BASKETBALL. AND WE'RE ALSO GOING TO DISCUSS STUDENT ATHLETE COMPENSATION, PLUS WE REVEAL WHAT YOU NEED TO DO IF YOU WANT LOAN FORGIVENESS THIS YEAR. THAT'S IT FOR YOU. I'M BRAD SMITH, THANK YOU SO MUCH FOR WATCHING.

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