♪ ♪ welcome to "power lunch," everybody. along with kelly evan, i'm tyler matheson we'll see the musk-see tv interview on cnbc last night tesla's ceo elon musk says there could be a reckoning for u.s. companies doing business in china doing work from home with a word we can't say on tv and he'll keep saying whatever he wants on twitter even if it costs him money. >> before we dive in, let's

check the markets which is one of the strongest rallies that we've had all year long and 1.3% and look at the s&p and the dow and the nasdaq and the s&p up. the annual meeting generating optimism on a number of fronts for investors including the cyber truck, full self-driving and musk spending a little more time on tesla and less on twitter and the tesla shares are up 4.5% and the regional banks are rallying across the board and its deposits have grown so far this quarter and that stock is up 30% in a week and 17% and still a $5 stock and zions, comerica, tyler up 10% >> we begin with tesla ceo elon musk and the conversation stretching across many, many topics and ai and china and the

complexity of doing business in that region even with the tensions between the west and china, tensions that circle around taiwan which musk says can create a situation for companies doing business both in taiwan and in mainland china. >> the official approximately see of china is that taiwan should be integrated one does not need to read between the lines and one can certainly read the lines so -- i think there's some inability to the situation >> that would not be good for tesla, conceivably or for any company in the world, frankly. >> yes >> for any company in the world. >> i think no one realizes that the chinese economy and the rest of the global economy are like conjoined twins. it would be like trying to separate conjoined twins and that's the severity of the

situation. it's actually -- it actually was for a lot of other companies than it is for tesla i'm not sure where you're going to get an iphone, for example. >> let's bring in a pair of china experts to discuss mr. musk's comments and the council of foreign relations and a cnbc contributor. john, let me begin with you, does mr. musk speak the way he does about china, china and taiwan because he must >> i think the most important part about elon's interview was how slow he spoke and how carefully he chose his words he's in a position where he could be seriously punished by xi jinping and xi jinping does take revenge on people the twins example is not the right one. the right one is if taiwan were taken out it would be like severing our brain because the

rest of the world economy won't work without tsm and the chips that come out of taiwan today. >> david, why don't you raeeactt that, and there was a kind of of a sense of inevitability of the coming reunification that comes whenever it comes and the consequences that can bring. >> he was right that china can have reunification with taiwan and that was since the founding of the people's republic of china in 1949, but i think he has it wrong that this is an inevitability and nothing can be done to pro vent this outcome. we certainly have a vote in this, and the united states can do a lot more to alter xi jinping's cost benefit calculous. i think xi is a rational actor, and i think that he looks at mr. putin's struggles in ukraine and doesn't want to repeat the

united states and an attack on taiwan or blockade would be a fool's errand, then i think he would think twice about it >> david, what should apple do >> apple is in a very tough position the most advanced chip that they need for their products is made not only in one place which is taiwan, and it's won on tsmc's sprawling campus and they don't have the ability to manufacture chips, and the united states has taken some steps to lessen that vulnerability with the opening factory in arizona and the c.h.i.p.s act and things like that, but we'd be fooling ourselves if we think we can become self-sufficient in chips and this is a major vulnerability from apple and they're trying to shift some production out of china to places like india and regarding the actual reliance on tsmc for chips i don't see that going away any time soon.

>> xi jinping is an autocrat and autocrats can be erratic where governments can coalesce around a medium kind of performance is our best course here just to wait out xi jinping and hope that he leaves the scene one way or another >> well, it is -- it is, tyler you know, the problem with autocrats is we don't have the advantage of the law of large numbers and that is one guy wakes up in morn with a headache and he can make problems for all of us. we are the same age, and i think taiwan will still be here when i'm gone and china has wanted to absorb taiwan for the last 74 years and will continue to do so the danger is that it's not now the people's government and the consensus of a hundred people across the street from the great hall of people this is xi jinping and he wants to get this done during his life

time if he becomes impatient he can make a real problem. i think david's right is that the troubles in ukraine at the moment should give him pause especially over the last week shooting down the mighty supersonic missiles and my hope is that this goes on long enough that we can all get back to business the young people in china are very easy to get along with, and it's the mao generation that's the problem and xi jinping is probably the last leader you will see from that generation. so i'll cross my fingers and i'm still owning tsm and i expect to buy more >> david, let me go back to something i heard you just say and it was something along the lines that there are some things that we, the west, can do constructively to manage, diffuse the situation between the west and china what are they? >> well, a lot of it is old-fashioned deterrence is to

ensure when xi jinping wakes up in the morning and looks across the taiwan strait that an attack on taiwan would not succeed and that means from the u.s. department of defense pardoning our bases and promote interoperability with japanese forces and strengthening the taiwan military and strengthening the indo-pacific one thing that we should learn from the war in ukraine is that our defense industrial base is not where it needs to be and where we'd like to have it if we were to have a major power conflict with china and we need to do a lot more to advance in the industrial base and stockpiles and prioritize those munitions and platforms that we would need for a contingency in the taiwan strait. i also think that we should be clearer with xi jinping on the cause he would face by way of sanctions and the potential military interaction to defeat chinese aggression >> what would the philosophy be

that multinationals should deepen their engagement in china because it would stave off a future conflict or do they need to sorting of rather hastily pull out, and diversify, have back-up mans and would that itself hasten a conflict >> kelly, let's face it. apple made a mistake and every board of directors i've ever been on understands that we need to diversify sources in case something goes wrong and going to india will help tomorrow and the heads are in tokyo working on new facilities there, and that will take a long time and if you can do soy so within, doing business in china is a good thing for the long term peace of the world and it is getting much more difficult especially the data security

laws that could put ex-pats at risk in china and i would not like to be in china with the current environment. >> thank you both today. we,a appreciate it. u.s. stocks are headed higher and bond yields are basically flat let's get the latest out with rick santelli in chicago hi, rick >> yes, kelly. yields are basically flat, but they have been moving higher as a matter of fact, if you look at two-year note yields since mid-april you'll see they're on pace to close at the highest level and you go to the other end of the yield curve, 30-year bonds, early march finally, the dollar index has followed rates higher and it is now hovering at some of the best levels that we've seen since late march and that's important because maybe one of the big stories today is are we getting closer to a deal on the debt ceiling and for that, dave miso. >> my man! >> dave, how are you >> good to see you >> what do you think is moving markets today? >> it's all about the debt

ceiling. that's why we're rallying. people don't care about the numbers so much and it's all about the debt ceiling and the politicians come out with the charade -- >> it does seem to be a kabuki dance, but we have to deal with it as it is. >> so you don't think the initial claims and the seven and a half month highs are not as important as the immediacy of the debt ceiling, and it should be because it's not, it doesn't feel like it and it's all about the debt ceiling >> what about the vix? it seems like to me that the move doesn't necessarily equate to the strategies that i'm hearing on the trading floor >> that's correct. in general, when the market goes down everything explodes and the options are priced that way and everyone here fixes down a one and a quarter and we've moveded so far up that there's panic and so -- >> what happens if we get a story that they're not going to require able-bodied people to work to get benefits so the

speaker of the house says no deal what if we're in a stalemate >> it's the government and they come out with this nonsense, talking both sides of the aisle and it's complete and utter garbage. in the end if the debt ceiling signed it, and especially if there is some kind of deal, but i don't think there will be. i think there will be some panic and i think we're in for the next couple of weeks and there will be volatility coming around >> i guess that means buckle up your seat belts traders, kelly, back to you. for many a new ceo at twitter brought a sigh of relief and it could allow musk to step aside and focus more on tesla and his feared dangerous speech on the platform, but musk says he'll do whatever he wants as we head to break, elon musk weighing in on the ev market saying lower prices will expect drive adoption pointing out people still don't realize

prices are even dropping. >> yeah, so a lot of people think teslas are super expensive because we did start out with an expensive sports car and then a slightly less expensive sedan and suv, and now we're at the selling price of a tesla is below the average car in the united states. so teslas are actually much more affordable than people realize and we need people to know that and teslas are the safest cars on the road. >> stifel also out with a new note saying they expect robust ev sales over the next decade and by the ev charging, and it is down 18% on news they're looking to raise cash by selling stock. the price currently near $5 from just this morning. "power lunch" will be back right after this

lunch," one of the clips from david faber's interview with elon musk is regarding his twitter account and responded with this quote from inigo montoya. >> you know, i'm reminded of the -- as i've seen in "the

princess bride," great movie where he confronts the person who killed his father, and he says offer me money. offer me power i don't care >> so you just don't care. you want to share what you have to say. >> i'll say what i want to say, and if -- if the consequence of that is losing money, so be it >> elon musk did just hire a new ceo to help twitter advertisers, might make their job a little more difficult and does it make the world a safer place? let's ask julia boorstin these loaded questions and she joins us on set. where do we begin? >> you have to see "the princess bride. it's a great movie he's singularly focused on free speech and nothing will take him

off that path and that was the point to quoting "the princess bride. he wants to be a proponent for free speech and advertisers feel they can be trusted and that advertising needs to be accurate and he also wants it to be entertaining and i think he'll lean on our former colleague who has currently been named ceo of twitter to manage those relationships with advertisers >> he doesn't care if it costs him money, it seems. >> it's a private company. it's not a privately held company. >> but if he repeats, for example, anti-semitic tropes it's not just money. it costs society, doesn't it i mean, there's -- there's some moral compass that individuals need to follow, don't they i mean, if you in -- repeat things that are facially, factually false and divisive, that's not good whether it costs him money or not. >> last night david faber pushed him on that or not and saying

when it was factually false and he said technically it was not factually false and what you're raising is if it's a private company and he doesn't have shareholders and an independent board of directors that has a duty to those shareholders that is making decisions about those things then he gets to decide what to do and he gets to decide what is the ethical choice for his company and in so many situations when we're talking about meta or other companies like youtube and the companies that have to deal with the content on their platforms and the fact that they're not held liable for what is shared on their platform and we were talking about section 230 that this all comes down to elon musk because he's in charge of this company. >> i feel we're getting to the feeling of twitter you know, does it feel -- >> of course, advertisers can walk away. they don't have to advertise there, and users -- and users can walk away if they don't like when they're seeing there or they feel like the proprietor of the store is a bigot, an anti-semite, whatever.

>> that's the question does his behavior impact advertis advertising dollars because it is very much for ad platform and does it impact subscribers and not just retaining subscribers and subscriber engagement and they only log on once or twice a week because they don't like what's on there and that will impact the ad revenues and it's about the users and the advertisers and we'll see how he navigates. >> he's answered to the sophomoric, and his initial answer buying twitter and i don't need advertisers and we can make it a fund, user-driven pace and it seems to be advertiser driven and the implications for what he says and what others say remains to be seen and interestingly enough, he also told david he wants tesla to advertise for the first time and it looks like the formula one netflix movie that drove so much engagement and a tesla movie and something in that regard and creative content is what he thinks will be their move there >> if you talked to anyone on

madison avenue and this is a friend suite and this is where you have all of the media giants pitching to advertisers. advertisers always want their ads to be entertaining and content and we've seen brands trying to be more of a starring character like we saw with the nike movie "air," we're really seeing brands take more of a starring role and not just ads like the super bowl and also with the lines of the nike "air" movie. >> they want to be comfortable in the environment on which their ads appear. >> to a certain, extent they wn to control the environment >> when she was pitching to the nbc universal content and she could say put your ads next to our content, nbcu content on youtube or twitter because you know you have the safety of being adjisent to the premium content and it will be interesting to see how she works

with advertisers to make sure they're comfortable. if you're next to a baby food bran than a beer brand and those are questions that she'll have to navigate. >> we pay for youtube ad-free. i rarely see, dvr and nba games and i so rarely get placed ads if creative is one of the only options like tesla to really get that message out and ad-free is still a small share of the overall market and if anything, streaming seems to be moving toward more advertising especially if the economy continues to get worse and you will see more and more people see ads in the supported version and you are in the minority and you're paying not to see ads and if you're watching content like sports and people watch the ads, but there is this understanding that with the growth of streaming and the growth of services like netflix or any of these streamers, you are seeing sort of this desire to reach consumers when they're watching in real time and on these platforms, if it's a meta or a twitter when they feel like

there's an urgency. >> i'm still mad you can't dvr amazon prime for the thursday night games and no fast forwarding. >> that's by design. >> i don't like it >> i watch a lot of sports content, it's a surprise to no one. i can't tell you what the ads are. all of them are insurance. >> jake from state farm. >> that means it's a good ad. >> progressive we're all turning into our parents. >> julia, good to have you in the house. >> good to be here >> speaking of the nba, the hottest prospect since lebron james winding up in the league's smallest markets and how utsch impact could a rookie have we'll discuss what this could mean for the business of the nba after this

welcome back to "power lunch," everybody. pippa stevens? >> oil is up 8% and we have a pretty bearish inventory report so this is a continuation of the trend that everything is higher and oil is also going to go higher and not really trade today based on the fundamentals in the market. on that inventory report, stockpiles were up 5 million barrels in the latest week and that was again, what analysts

thought would be a 750,000 barrel draw and that was on the barrel side. one bright spot is that gasoline inventory decreased by more than a million barrels and refinery utilization jumped ahead of the summer driving season and that's bullish for oil, because if refinery is higher and one quick thing though we talked a lot about how the manufacturing slowdown and how the good slowdown is bad for oil and goldman sachs actually found that the services side of the economy is much more important, and that services gdp drives 70% of oil growth. think about it a lot of the time you have to travel so you're driving, and so that's much more important and they say the post-pandemic services recovery still wasn't there and that should drive upside in the second half and again, it's all about the second half >> if inventories were sending a bearish signal, what is the sentiment that would cause oil to rise? is it a sense that, well, maybe the debt ceiling will get resolved and the economy will be

okay and ta, da, da, da. >> there's optimism around those stocks and what that means for oil demand and when everything's up and then oil is in sympathy trading. >> why even bother studying supply there were so many good examples and so many deep dives and it makes sense that the oil should be up and then it was down and oil should be down and then it's up. >> it's almost the more data we have the harder it is to parse and everyone's trying to run their models and sometimes it's just not about that. >> exactly >> thank you, pippa. >> pippa stevens. >> let's get to courtney reagan for a cnbc news update >> thank you, tyler. here is your cnbc news update at this hour. florida governor ron desantis signed a slate of controversial bills today. they ban gender affirming care for minors and gender-affirming prone nouns and they have a super majority in both chambers

and they are anti-lgbtq. l elizabeth holmes and sunny balwani will have to pay $452 million in restitution to the victims of their climbs and it was a last-minute man uf toreer to defer >> breaking his own mprevious record he guided a foreign climber. his first summit was in 1994 kelly, back over to you. >> i'm never doing that. >> what a guy. >> i love how tyler is so supportive and courtney and i are, like, no way. the home debate heating up again and many workers aren't happy with it. elon musk says working from home is morally wrong we'll discuss next

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been caught in an endless struggle, does hybrid work "the wall street journal" writing recently that offices remain empty and some companies are pushing back black rock calling employees back to the office four days a week and at&t to reduce office locations and call managers back in and elon musk telling david faber working from home is morally wrong. >> it's, like, really, you're going to work from home and you'll make everyone else that makes yourself car come work in the factory, and they can't work from home? you know the people that come fix your house, they can't work from home, but you can? does that seem morally right that's messed up >> you see it as a moral issue i see it -- >> it's a productivity issue and also a moral issue get off your [ bleep ] high horse because they're asking everyone to not work from home while they do. >> let's talk more about this

now. e san sone is chairman of recruiter.com and julie bauki is president and chief strategist at the bauki group and julie, i'll start with you because probably in the crosshairses are two parents working with kids. say they're in their 30s and i feel like we'll have a whole cultural moment about what this family should do and the value of work from home even though we know a lot of this will ultimately depend on the tightness or looseness of the labor market >> it is, and to insert the phrase morally wrong into this debate really muddies it it doesn't have to do anything to do with morality. there are certain jobs, certain jobs require certain things from you. a physical therapist cannot work from home. a programmer can there's not a moral issue there. it's just differences in jobs, different requirements, different productivity expectations and when we take on a job or study a certain field we need to understand that that

job will come with different expectations from other jobs of people living down the street and that's okay. we don't have to treat everybody exactly the same >> evan, we know that mr. musk is prone to sort of hyperbolic quotes just because you're the richest guy in the world does not necessarily mean you're the smartest it seems to me not a moral equivalency, but a moral inequivalency. a roofer has to go work on a roof not at his home a chef has to go work generally not at his or her home i don't get it i just don't even get the point here >> these an incredible individual who the legend has it that he would sleep on the floor in the tesla factory as they were trying to get product out the door so clearly, he has a different dna. that's really that he really carries around with him, and i agree with julie i don't think the word really is

morally, but let's change the conversation companies now get to decide what sort of culture they want to have, and the employees, the talent gets to decide do they want to join those companies or not? so morally wrong might be a company that said hey, we're going to be 100% remote and then in the 11th hour change their mind and then hey, we're 100% in office and they get to decide the culture that they want to create the j.p. morgan chase said all right, everybody, back to the office and they're prioritizing in-person training and bringing the organization while companies like airbnb and shopify said we don't care and we're looking for the best talent for these roles and employees are choosing the companies that align with their culture and their overall mission. >> i think, evan, as well. all of this is true, but it is coinciding with the cultural

thing here that is in some ways a big experiment and we really haven't had tried to make it work where both parents are working full time and they're raising kids and society has to figure out what the objective is and the objective to keep or get women into the workforce early on and fertility and whatever it is you have to figure out what the objective is before they can decide if it's morally good or bad or whatever. >> you report every month and you look at the salary and wage increases of the roles and many of those in person and the hospitality and the transportation industry and we saw those salaries increase tremendously over the last two years and to get people to come back into the office or to get people to be in person carries with it a higher price tag, as well and we want to see that happen and we want to see wage increase >> julie, he owns his company, twitter. he's a major shareholder in tesla and he can set the rules there and however he wants and

there are discriminations that have to be made within companies and there are some companies where some fupnctions can be don in the office or some must be done or on the factory floor, and others can be done from home and companies are free to make that decision for their workforces and you, as the employee, are free either to be employed there or to choose not to be. >> yes >> julie >> sorry >> julie, sorry. >> as we said, elon musk can choose whatever culture he wants to build, but a cautionary here is that you do have to take into consideration what the workforce wants and what the workforce is responding to. we are living in a more collaborative world than we are top down and when you say you have to be in the office you are limiting your talent pool to people who live in a geography who are willing to come into the office and as we saw through

covid, people moved and you know, they changed their lives up and as a part of that they changed their priorities and so being in the office might have worked in the old before times, but now saying you have to do that we're going to get people like musk are going to get a lot of pushback that will only continue as the younger workers continue to take up more space in the workplace so there's a down side you can put your fist down and you can demand ebb verybody com back and there will be a reaction by those who the decisions impacts and you have to be ready to deal with the consequences of his discussion and i'm want sure he's thought that through >> quickly, evan, before we go, does your data show that remote work is going away or is it here to stay? >> it's definitely here to stay, and we're seeing hybrid is more the norm where you're getting a little bit of both and you're getting the in-person cultural and it's really about retention. how do we make sure that your

employees will stay? >> fridays are the best day to commute now because there's no one on the road, no one's in the cafeteria and you get a speed pass thank you both today. >> thanks, guys. >> still ahead, hoop dreams. the nba san antonio spurs winning the draft star, and why the hottest prospect since lebron good for advertisers and the best-selling book, a bible selling for millions on the auction block. details on that when "power lunch" continues asking the rig. question can greatly impact your future. - are, are you qualified to do this? - what? - especially when it comes to your finances. - are you a certified financial planner™?

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welcome back to "power lunch. the nba conference finals are beginning and the playoffs are upbig. the league averaging more than 5 million viewers, highest since espn got the rights in 2002 and up 14% since last year and with the tv rights expiring at the end of the 2025 season, is the nba hitting its stride at just the right time for more, we are joined by curt heland, nbc sports manager and lead nba writer. these ratings are good because the matchups have been good and

compelling it couldn't come at a better time because the nba's tv rights are being let out to bid very soon >> yeah. the nba is kind of in a transition point from its older stars like lebron james, like stefan curry to a younger generation and the younger generation didn't step up this year so we have the classic curry versus lebron match-ups and boston and philadelphia, major markets. so i think that certainly has helped the rating and you're right, it couldn't come as a better time because next march they start the exclusive negotiating window and things get serious with building out that next tv deal and if you can go in and say, hey, we can deliver these larger audiences, all the better >> as you look at those negotiations that will start here, do you suspect that the contracts will be more fractionalized than they are now? in other words, there won't just be espn, abc and tnt, but there will be a streamer on two

involved here and that maybe you'll have to go hunting for the game. >> i think that is where things are headed if you remember the last time fox tried to get in and turner, tnt and disney-abc told the league no, we'll keep the league out and that's not how it will be this time you're going to see, you guys have reported that nbc and peacock have been interested and apple, amazon, there's a lot of interested streamers in other markets, and i think you're going to see a shift more and more towards -- i don't want to say away from cable because espn will have a large presence in this, but you're seeing a shift more towards broadcast and streaming rather than a traditional cable package. >> i might take small issue. >> the young guy helped the lakers since they made those moves for sure >> i'm watching them and i'm, like, geez >> where did they come from? >> yeah. there might be a superstar problem, and lebron is nearing the end of his career and steph curry is

we all remember zion that one hasn't quite lived up to the hype and maybe wembanyama will what do you see in terms of ratings and the brand power? the nfl remains the juggernaut and the nba, i don't know, a silver medal >> yeah. i don't think anything is touching the 800-pound gorilla that is the nfl right now in terms of ratings and in terms of cultural impact, but the nba is getting close, and i think when you're looking at what the owners see, not only do they see a young, rising star and antetokounmpo is the bridge and vickor wembanyama might be one of those guys and i've talked to my friends of my children who are under 14 and into basketball, that's the first name that comes up there are these young, more social media-driven stars like zion that necessarily haven't cracked through on the biggest stages yet, but will

the game is international, isn't it i think the biggest growth for the game is this is the best brand in the world and the best stars are playing here and it's not just your domestic tv rights and it's the international. >> you are so right. you look at nikola last night and he was just amazing and doncic. >> right. >> on the one hand, you have potential and wembanyama, and the history of very tall, slender guys in the nba is not that favorable and talk to me about the prospect and the problem with ja morant and we hope he gets himself figured out because he's an amazing talent and he has a talent that gets himself in hot water. >> wembanyama, the scouts i've talked to compared him to the one best prospects like lebron james and shaquille o'neal and the guys who became mega-stars in the league and hopefully he

can be that guy. you never know until you've seen him, but a 7'5" guy that can shoot three-pointers and is a defensive wizard, he has the potential to be special, and ja morant is special on the court hopefully -- he's one of the guys that nike's giving him a signature shoe he had a sports drink brand who would make him front and center and back a little bit and there's potential for him to be one of those new faces of the league because he's so dynamic on the court, but hopefully he can get the parts of his life together that allow him to take advantage of those opportunities. >> we've got to go we want to mention it looks like you're working from home unless the steak knives are part of nbc. >> work from home -- >> i have apparently been morally corrupt for 13 years since i joined nbc because i've been working from home since then [ laughter ] >> kurt, thanks for your time today. >> thanks for having me. >> kurt heland

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our customers don't do what they do for likes or followers. their path isn't for the casually curious. and that's what makes it matter the most when they find it. the exact thing that can change the world. some say it's what they were born to do... it's what they live to do... trinet serves small and medium sized businesses... so they can do more of what matters. benefits. payroll. compliance. trinet. people matter. welcome back to "power lunch. huge market day. the dow is up 366 points we're seeing 1.1% gains across the board driven by a positive resolution to the debt ceiling still a green mood and even oil in the green today

shares of wynn resorts are one of the big winners las vegas is strong. shares up about 6% today check out meta and invidia they're the two best performers on the s&p this year such an incredible run here for them tyler? still to come, the world's oldest known hebrew bible selling for millions on the auction block. that and more when "power lunch" raps it up use a new sign. with t-mobile for business, save more than $1000 versus verizon. and with our price lock guarantee, we'll never raise your rate plan. ever.

the most exciting four minutes of television begins right now. a bunch of stories you need to know about clock is ticking there it goes. president biden and kevin mccarthy said they won't led the government not honor its debts president biden is cutting a trip to asia short to return for negotiations the markets seem to be acting as though a deal is going to happen who knows? >> who knows it's unfortunate that trip to asia got cut short, but he must have felt it was important.

ghosting appears popular for the airlines "the wall street journal" highlighting that budgetary lines have been experimenting with offering cheaper flights to underserved areas, but will pull the plug quickly if they don't sell. >> i might find an attractive price on a trip to fort lauderdale, but they might cancel it if it wasn't selling. >> presuming they won't if you bought a ticket. >> they might. >> when would they tell you? let's talk about taco tuesday. >> taco bell is filing a petition to trademark taco tuesday because they say it should be held by all those who make and sell tacos. >> there's a lebron angle here

in a court case he was granted the right to use the terminology or something it might open the door to them softening the taco tuesday >> going beyond the call of duty, bed, bath & beyond investors aren't giving up on the company. they project shareholders will be wiped out it emphasized the hard math of the chapter 11 filing. >> there's no comeback there have been great pieces written about what's happened here and gone wrong and the management loading the company with debt, doing share buybacks when maybe they could have reinvested. >> loading it with debt and loading it with manslaerchandise

>> they had this amazing christmas in 2012 or 2013 and then it's been all downhill. the hebrew bible sold at sotheby's. we have the final auction price on this item. >> drum roll. >> the price was -- >> breaking bible news, $38 million. the most expensive manuscript or book ever sold the buyer is alfred moses, a former u.s. ambassador they donated it back to the amu museum in israel it will be on public view. >> the highest priced document ever sold went to ken griffin. it was an original draft of the constitution. >> it had that interesting

chapter of constitution dow. >> there were no crypto investors bidding against mr. moses. great to see that people will be able to see this in the public, the most complete, oldest hebrew bible. thanks for watching. "closing bell" starts right now. welcome to "closing bell." i'm scott wapner live from the new york stock exchange. this make or break hour begins with debt ceiling deal hopes the strong move in stocks we're witnessing at this moment. cyclical areas like bank, industrials are lifting the dow today. a broad-based move across every se sector small caps are getting a much-needed boost, nearly 2% for th