About 18 times because earnings are slowing and thats a premium valuation that we get when earnings are moving higher and its expanding. You can go back down. You can go back down to 1850 but you have issues coming up. One of them is the dollar to be strong and everybody is going to focus on the brexit which is a june vote but the news will pick up and then of course president ial election. You tend to look at the economic numbers that were not great. Thats good because i dont think that the fed goes you dont know what to believe when it comes to the fed because what some have called a dove fest of last week and then now this week you get some of the seemingly more dovish people talking like hawks. Well and its confusing to the marketplace and its the reason that were correcting right now and its a healthy correction. I dont think its being met with much volatility in the marketplace and looking forward over the next couple of weeks the economic numbers are going to be important. Ism manufacturing and payrolls but an extension of the rally comes down to the earnings were going to get coming up in the next three weeks. Guidance is going to look good. Some of the comps are going to look good. Flat continues to be the new up. Were in a sideways range basically. If there is an opportunity for the market to correct i think it presents itself more in a may time frame. Not necessarily april. Theres people that think that the market over the last five week period has just gone too far, too fast when not enough of the fundamentals have changed. That it was as we have talked about on the show, the dash for trash, the Short Covering that have lead stocks higher. I think he was mentioning over the last couple of days that the average stock is still 20 off of its highs have we gone too far too fast . We have probably gone too far too fast however the reason i think we can go much further is because much lower for much longer. When you start factoring in what mario draghi said just two weeks ago when he said much lower for much longer, banks will be available to borrow from 2021 at a ridiculously low rate. Theres going to be negative Interest Rates throughout much of the european zone for years to come, judge. I dont know why you would want to bet against that. Now as far as a 5 correction, could we get Something Like that . Some of tlefls steven just talked about . Sure we could. Its not really what im betting on but after a sharp rise i wouldnt be surprised to see us pull back a little but depending on the stocks they buy on the pull back that will be telling us how far we go next. Our next guest isnt just looking for a 5 pull back. Hes looking for something more than that. Lets bring him in. Welcome back. Thank you, scott. 10 is around the level youre looking for. Why. Because we are like you just discussed in a rangebound market but the range is big on the way up. We overshoot due to liquidity issues so we get excited about central banking and we get excited about Corporate Cash being put back into the market but we overshoot because of liquidity and on the way down we overshoot because markets not only price in fundamentals but they amply identify the effects of weakening fundamentals this is a range bound market. The range will get bigger overtime which exposes it to break out one way or the other. Its too early to say which way but dont be surprised if you see a 5 to 10 move the other way because thats what were having now. What drove us here over the last five weeks . Wasnt it the belief that the u. S. Was moving further from recession rather than closer to one. Has that tie anonymousic changed once again . Two things. One is we overdid it in terms of the recession call. Things in the u. S. Arent that bad and second we had Central Banks become more active. You spoke about the ecb. Lets not forget the peoples bank of china so youre getting that and also we get support every day from the massive cash sitting on corporate Balance Sheet that gets deployed back. Either merger as m a activity or through stock buy backs so there are liquidity reasons that push it up but nindal reasons that push it down. What about the notion that the fed just simply lost its kred . Every day now were hearing another message that seems to conflict one that we heard previously and in some cases for the very same people. Yeah. Thats a fed thats data dependent and the data is all over the place. So if it were just the u. S. , just focus on the u. S. , they would hike at least two times this year and they would be very consistent in terms of their message to normalize but the u. S. Is operating in a weakening neighborhood. The Global Economy is getting weaker and not stronger. Therefore they get conflicting data globally and the dollar has a huge influence on that so when youre data dependent as they are you will come out looking inconsistent but theyre not really. Theyre just trying to respond to very different messages. Domestically and internationally. A question on europe. I seem to get it wrong. Europe cant seem to get out of its own way yet you see some of the economy is getting better. Spain is getting better. Whats your take on europe and is it a place to really put a descent size in your portfolio in terms of your equity portfol portfolio. There are pretty big differences. Valuations are incredibly fluid right now its very hard to make money in this market the Old Fashioned way. The strategic longterm positioning. Money is made in two ways. One through tactical positioning and second, and the tactical position means you have to respect the rangebound markets and secondly, through volatility trades. That is how you make money in these markets. Enjoy the long weekend and well see you again soon. Lets hit one call. This ubs call to sale wells fargo. They say some of their Energy Exposure is concerning. That the majority of the exposure that they do have is below investment grade. Its a little bit late though. And relief as it relates to high yield. Lets not forget the value of the mortgage franchise wells fargo has and the ability to have that be a catalyst in the spring selling season. Thats going to work to their advantage. I disagree with the call. Buffet was adding to it on the latest release of numbers that we got so we knew that one of the Worlds Largest investors wasnt getting scared out and was buying more of it. Barclays moved their target up to 63 you use this to get back in. Everything thats great about wells fargo he took as a negative. I like it. It made me want to buy the stock and not sell it. Heres whats coming up on the halftime report. Still ahead, he was offered the coo job at yahoo and turned it down. He was also streaming media online before netflix even existed. Billionaire investor and tech visionary weighs in on yahoo . And the next frontier hes disrupting right now. Plus, turbulence in the friendly skies. The activist investor who is shaking things up at United Airlines goes on the record. He joins us in an exclusive tv interview. Its all coming up on the halftime report. Every Auto Insurance policy has a number. But not every Insurance Company understands the life behind it. Those who have served our nation have earned the very best service in return. Usaa. We know what it means to serve. Get an Auto Insurance quote and see why 92 of our members plan to stay for life. patrick 2 pretty great. Ke to be the boss of you . patrick 1 how about a 10 raise . patrick 2 how about 20 . patrick 1 how about done . patrick 2 thats the kind of control i like. And thats what they give me at national car rental. I can choose any car in the aisle i want without having to ask anyone. Who better to be the boss of you. patrick 1 than me. I mean, you. Us. vo go national. Go like a pro. Were back on the halftime report. Once again targeting yahoo . Dom has the details and this is stepping up its fight to the upmost level i guess. Absolutely right. Its been on going for quite sometime now. Taking to the next level here launching a full proxy fight with yahoo over Board Members. Starboard managing partner, Jeffrey Smith wrote, quote, we believe the board clearly lacks the leadership, on apologetic activity and perspective needed to make decisions that are in the best interests of shareholders. If you take a look at the names, starboard is nominating here, you have bridget baker. Brad buss, a former cfo thats a hand full of the names. Starboard has been a vocal critic of the management here most recently asking yahoo to separate its asian assets to sell its core business. Starboard does own less than 1 of the Overall Company and you can see those shares flat down fractionally on the day. Scott, back over to you guys. Thank you so much. Yahoo is responding say that theyre going to study the director nominees and theyll respond in due course. The good thing is we have somebody to respond on that story right in the here and now. A man that once sold a business to yahoo . He is todd wagner. The cofounder of broadcast. Com. The man who along with mark cuban sold that company to yahoo in 1999 for some 6 billion. Today he is the ceo of 2929 entertainment with Properties Like hd net films, landmark theaters, Magnolia Pictures and a stake in lions gate. Were going to talk netflix, twitter, so much more. Hes going to be with us for the rest of the hour and were excited about that. Its good to see you again. Its been awhile. Thank you. Great to see you. Lets get into this yahoo story because you have this really interesting connection with this business from long ago. Whats your read on whats going on there . Well, i think to cut to the conclusion of that story and hopefully well talk a little bit about the way yahoo was before. I think theyre at a point where you have to sell the company. I mean they are at a place where they had the do overs. More do overs than most companies. I dont know what it s. Likes six ceos in the last 8 or 9 years. Unlike other companies were going to have unified leadership thats been there for a period of time and you can count on. Yahoo has been almost the opposite in that it breaks my heart because we were there when yahoo was google of that era and watching what has transpired over the years. What would you have done had you and mark somehow stayed along for the ride after you sold broadcast to them . Well, as you know i was offered the coo job at the time at yahoo . It was a difficult decision because again they were so high profile at the time. I think what happens and you see it with the company that are succeeding how quickly it can change. I know well talk about twitter, yahoo this was only 12 years agatha these things were happening and i think what happens sometimes is Companies Get in the lead. There can be a bit of arrogance and prevenn defense as opposed to risk taking. With all the companies you must continue to take risks. For example, one of the reasons why i love facebook is zuckerberg takes risks. He buys instagram and does things. Yahoo sat on their heels for awhile and said this is how we do things and we have watched a steady decline of a company that shouldnt be in this situation but i think now it is. I am so struck by comments that you made with us five years ago and im going to read them because you could have made the exact statements today. What yahoo faces on december 6th of 2011, the classic case of brain drain when you have a vacuum of leadership and some of your key people leave. Its very hard to turn the ship around. Its like getting your mojo back. They have to get their mojo back. The best way is to have the right leader, the right ceo and theyll attract the people that give you the chance to turn it around. You said that six months before Marissa Mayer got the job. Couldnt we be saying the exact same things today . The only reason id say its different today is i dont think theres the chance for the next turn around. In my opinion its almost too little too late its time now for someone else to own this company and do Something Else with it. So yeah its still a great name and a great brand and a highly trafficked website but i think that the day has passed and now its time for new leaderships. What should yahoo have been . The next great media company. When he the opportunity to buy the mgm library back in the day. Theres so many opportunities that yahoo had when it had a 100 million market cap and growing that it didnt take and including an almost acquisition of google so theres all of those theres always those stories. Monday morning quarterbacking is easy but this has been a trend that we have watched for many years and to your point, my quote from years ago could almost apply today except for now unlike then i said oh lets see what happens. Now i dont feel that way. I feel like maybe its time for them to be sold. I would have sold microsoft years ago. A lot of people wish they did that were involved in that period of time. Who potentially would be someone that would be the acquirer. Would it be a google or a verizon or someone of that nature. I think to me at this point its anybody that wants those. It could be someone that wants to Better Connect with the consumer base. We might be surprised. Not to mention an international buyer. So i think to just think whats going to be the obvious candidates may not be right. This could be a surprising story. Lets talk about twitter. One that people are trying to figure out what exactly is going on. Can it improve itself . Where did it go wrong . Whats your view when you look there . I look at twitter as it would be where we spoke a few years ago about yahoo . The difference to me with twitter now, twitter is incredibly relevant. It got an incredible brand. Its now ten years old so it has all the things that would make me say hey, lets slow down and say lets see where we go. Im a little concerned that a person is ceo of two companies that always troubles me. That somebody is going to be busy to be able to do that but its way too early to say that its over for twitter anymore than when we were on here and spoke about netflix. They are relevant and they matter as everyone on this program knows people use the product and its not going anywhere soon but you question whether jack can run twitter at the time of a company. To be a Public Company ceo is an incredibly complex task in and of itself to rye to have two organizations is doubly hard and theres only so many hours in a day. Hes a founder. Hes clearly a very bright guy and the board made the decision knowing full well that that was what they were signing up for. So lets wait and see before we call that one. We have a lot more to talk about. We are going to discuss the ten Academy Awards hes been nominated for. You have probably seen some of the movies he has helped get off the ground as well. Wouldnt you guess that the people who have seen the contents of that envelope might have who. A better idea of what makes someone a danger to his country. Who are these people . Are they elected . Are they appointed . Is it you . Were going to get his take on media, the streaming wars. Yes, of course netflix as well and so much more. A new business he is disrupting as well. Plus our exclusive interview today with the activist investor taking on United Airlines. Brad gerstner joins us to set the record straight. Those details are ahead. As we go to the break a look at the dow 30 heat map on a day when the dow is down 70. Were back after this. Some say free the whales. For them, nothing else is acceptable. But nothing could be worse for the whales. Most of the orcas at seaworld were born here. Sending them into the wild wouldnt be noble. It could be fatal. When they freed keiko, the killer whale of movie fame, the effort was a failure and he perished. But we also understand that times have changed. Today, people are concerned about the Worlds Largest animals like never before. So we too must change. Thats why the orcas in our care will be the last generation at seaworld. There will be no more breeding. Were also phasing out orca theatrical shows. Theyll continue to receive the highest standard of care available anywhere. And guests can come to see them simply being their majestic selves. Inspiring the next generation of people to love them as you do. It recognizes pedestriansligent driand alerts you. Ems. Warns you about incoming crosstraffic. Cameras and radar detect dangers you dont. And it can even stop by itself. So in this crash test, one things missing a crash. The 2016 eclass. Now receive up to a 3,000 spring bonus on the e350 sport sedan. But they demand the best shopping experiences. They may want the latest products and services, theyre your customers. And by blending physical with digital, cognizant is helping 8 of the 10 largest u. S. Retailers meet their demands with more responsive retail models. Ones that transcend channels and locations, anticipate expectations. Creating new ways to engage at every imaginable touchpoint. Its a new day in retail, and together, were building the store of the future. Digital works for retail. Lets talk about how digital works for your business. He was a pioneer in the streaming business paving the way for Companies Like netflix. Lets talk netflix. Youre a shareholder and youre a true believer in read and what that company is doing. Has any of that waivers at all. Its nice when youre right. But nothing has changed. In fact im almost at the point of i dont want to say, quote, double down but to the point that i admire them even more. Theres a theme i look at with Successful Companies over and over again. In the Sports Industry you try to find a great coach. In the movie business you try to find a great director. In these businesses im trying to find great leaders. And the folks that you trust to make the left and right turns. Reid focuses on one part of the business. Ted is very much the hollywood Creative Content force. These two guys, basically, to use an old anlage, they have been playing chess while everybody has been playing checkers out there. A few years ago, everybody was like the studios wont license content to them anymore. Theyll never been b able to do it and they started creating their own content and they have different rules of what to do with the content because they dont care about opening weekends and windows. They want to attract new users and lower their term rates and do things that others arent. I view them as the only ones that are really built a Global Digital media company. Thats really something special. At some point do you have to wonder or worry about how much were spending for content at t maybe they dont get as many subscribers as people think to offset that . I personally, they are now going to film festivals as you guys may know and theyre paying a lot of money to license movies. In fact more than a lot of the st studio there is to do so and theres something that he said years agatha stuck with me for its simplicity and yet its powerful. If i get more subscribers i can get more content. If i get more content i get more subscribers. Its incredibly simple and true. As they continue to broaden their base around the world their ability to pay more for content grows with it. Not to mention, this is the key, the digital theme i like to talk about, they know their user base. They have such a good idea of what their audience wants. Thats a cat bird seat when it comes down to it. You sit in a great spot. An exhibiters also with the theaters and youre in a production company. How do you see playing off the other distribution channel. Notably cable and television. Are they net users or because the wire comes in because the fiber is coming to the homes theyre able to win . Well, i think netflix is going to be a force no matter how it gets distributed. As theyre creating more content theyre able to distribute into whatever means we need to. We even worked with them on the exhibition side. They can still release movies to their subscribers and still put it in the theaters. I dont think theyre ham strung the other way. I dont think it means the destruction of everyone else and they are more efficient. They are going to in my opinion be that iceberg. I have always likened analog and digital icebergs. Its the 10 above the water. Digital is the 90 below. When you start these businesses like netflix and theyre very analog its shipping dvds by mail and overtime they become digital and they find the sweet spot and overtime they find out how to really unleash the power of what theyre doing. Now theyre creating content. Theyre doing it with users that they know a lot about. That to me is a theme i severe and over again with gattdisrupt businesses. Uber would be one of them. Analog is running around to get a taxi in new york city. Digital is what uber is so i see this all along, these themes and at the end of the day i like it. My only concern for netflix would be if the Management Team isnt there. Then i would be concerned. Much more coming up. Plus our cnbc exclusive interview with the man thats stirring things up at United Airlines. Brad gerstner joins us next for his latest, for the latest in his companys battle against the airline and as we go to the break a look at the european markets. Theyll close in a couple of minutes time like us here. A little bit of red over there. Back after this. E trade is all about seizing opportunity. And id like to. Cut. So im gonna take this opportunity to direct. Thank you, well call you. Evening, film noir, smoke, atmosphere. Bob. Youre a young farmhand and e trade is your cow. Milk it. E trade is all about seizing opportunity. Man 1 i came as fast as i man 2 this isnt public yet. Man 1 what isnt . Man 2 weve been attacked. Man 1 the network . Man 2 shhhh. Man 1 when did this happen . Man 2 over the last six months. Man 1 how did we miss it . Man 2 we caught it, just not in time. Man 1 who . How . Man 2 not sure, probably offshore, foreign, pros. Man 1 what did they get . Man 2 what didnt they get. Man 1 i need to call mike. Man 2 dont use your phone. Its not just security, its defense. Bae systems. Hello, everyone. Im sue herrera. Here is your cnbc news update this hour. President obama paying tribute to victims of argentinas dirty war during a visit to remembrance park. Coinciding with the 30th anniversary of the countrys military coup. It takes courage for a society to address uncomfortable truths about the darker parts of its past. Confronting crimes committed by our own leaders, our own people. That can be frustrating but its essential to moving forward. A United Nations tribunal saying she guilty of genocide and war crimes and crimes against humidity for leading a terror against civilians beginning in 1992. He was sentenced to 40 years in prison. His legal team says he will appeal. Passenger lights in and out of brussels are suspended through sunday. City residents joining in solidarity to mourn and remember the victims of the bombing attacks that killed 34 and injured 270. And the families of the 16 students and two teachers that died in last years german wings plane crash gathering at a church to remember their loved ones on the one Year Anniversary of the tragedy. They were among 150 people that were killed when the copilot flew the plane into a mountainside. Thats the cnbc news update at this hour. Scott back to you. Sue, thank you so much. Two activist hedge funds are stepping up their proxy battle against United Airlines. Sending a new letter to united board of directors on tuesday night to in their words set the record straight. The firms have nominated six new members to uniteds board and want to make its ceo its nonexecutive chairman. Brad is the founder and ceo. Hes live with us today in a cnbc exclusive. Brad welcome to the halftime report. Its great to have you on today. Thanks for having me on. Im a big fan of the show. We appreciate it and were happy to have you today. I have your letter in my hand and the subject is setting the record straight. About what exactly . We launched this campaign a couple of weeks ago after being shareholders for six years and we were trying to take control and we wanted to set the record straight. This is about first and foremost the failure of the board. During the past five years united has gone from first to worst in term of on time performance and customer complaint versus gone up by 80 where as at delta they have gone down by 60 and worst yet earnings are a fraction of what the industry has done. They have compounded it 18 while americans compound it at 34 and we think thats lead to a huge loss in value we estimated over 15 billion. So he certainly deserves some of the blame and this board needs to change. Great board versus great Management Teams that lead to good results. This board needs to be held accountable for these results. Isnt it a fair question to ask . You have been a shareholder for five years. Where were they when jeff could argue was doing many of the things responsible for the issues you have today with United Continental. Well, we have been a concerned shareholder for a long time and, you know, we were, you know, we have been actively engaged with the Company Since we filed last fall but as interested investors, we have expressed our concerns to management over that period of time but this is the first time in our history that we have ever put a slate up for election. Our First Response is not to launch an activist campaign. Some people have called us relur reluctant. We came to this after talking with the board and expressing our disappointment and encouraging them to embrace the change needed to set this company on the right track. It was only after we concluded that that wasnt going to happen that we announced it. Through some of my own reporting and through sources, i am sold that you nigunited atteo settle on several occasions, that united is still willing to settle and even according to those courses give them board representation. Your reaction to my reporting. I think youre a heck of a reporter but i cant go into confidential negotiations that we had with united. At a fact of the matter is i they everybody that knows us as investors respects the fact that were not drawing lines in the stand. We want whats best for united. For its employers and customers and its shareholders and we will continue to work constructively with the company to achieve that outcome but at the end of the day lets remember the board are representatives of the owners. They had plenty of chances over the last five years and the board is failed and its demonstrated in its earnings, its stock price, its on time performance, et cetera and now we have put forward a slate of six fantastic directors that we think are what the Company Needs to give oscar the support he needs to success. You have certainly made the argument when you look at the stock price and some of the other me tricks you have been pointing out its hard to argue, especially relative to uniteds piers but when you say youre looking for a, quote, new competition of the board and then two days prior to your initial letter, united puts three new members on the board including 2 that have pretty substantial expertise in the airline business. A gentleman from air canada that was the president and ceo there and another gentleman that used to be at delta as well. How come thats not good enough . Well, first let me say we like bob and james a lot. It was a good first step to put him on the board. Two years too late and only after hours, a few hours after we told them we were going to publicly announce our campaign but two directors out of 15 is simply window dressing. This Company Needs substantial change on the board in order to have the type of change necessary and the type of expertise necessary to really change the area line. There seems to be a debate over whether you in fact are seeking the control of the board that you say youre not. Oscar munos sent a letter to united employers suggesting that you are. In their words youre waging what they call a coup and its been a distraction and when you look at the board we point out that theres 15 Board Members but three Board Members are not going to stand for reelection so lets take that down to 12. That number includes two members of the union so you can take and maybe say theres ten real board seats. How would you push back against that argument that says if you take all of that into consideration you are by virtue trying to take control of this board of directors. I think its misleading on several fronts. First, the board was 14 people. We chose a slate of 6 because it was a short late and noncontrol slate. They increased the size of the board to 15 and maybe 16 and as they said theyre going to appoint somebody else. The ball is in their court to tell the shareholders of the company how big is this board . How many directors do they expect to put on their proxy. We dont know before this point in time but we have no interest in running a control slate for this board but were shadow boxing and working with several layers of hypotheticals that you just went through in order to twist and contort and say that this is a control slate. Im telling you, theres no interest in having control of this board. What about gordons position here . It seems certainly in the march 8th letter that it was nonnegotiable. Now i got the feeling from reading the new letter that maybe it wasnt so stern. Do you want to set the record straight as to what his role, quote unquote has to be if anything in this agreement . First and foremost we selected gordon because hes a terrific Airline Operator and he had great performance in the past. He understands that you have to balance the needs of employees, customers, shareholders, we think dpor don would be a terrific chairman of the board. But lets remember how the process works. Gordon was the first to say this is not the gordon show. He juans to do what he can to help oscar and the board succeed. If he is elected hell come in just like our other nominees and then the board will make a decision as to who the chairman should be. We think hes qualified. We think other people are qualified but its the domain of the board once its reconstituted to choose its chairman and gordon understands that. Can you say that if you are successful with the slate that you have put forward or frankly my reporting suggests that theyre willing to give you representation, i dont know a number and i dont know whether you do or not but if you do get any kind of representation, will you be supportive of oscar remaining as the ceo of United Continental or will you move to try to suggest somebody else who should take over that job . First and foremost, let me say, we have tremendous admiration fors a corr. Heres a guy who underwent a heart transplant a few weeks ago and is already back on the job winning the hearts and minds of uniteds employees. Which is why some people say, i mean, give the guy a chance. Hes just back. And we are supportive of oscar. We dont think this board has what it takes in order to help oscar succeed. So i can tell you unequivocally we strongly believe he should be given the opportunity to exceed as ceo and we intend to do everything in our power to help him succeed but the role of the board is to govern and help put in place a terrific Management Team, guide them, set targets, hold them accountable and thats what we would expect this board to do no matter how many get elected. I appreciate your time very much. Interesting story. I hope youll come back the next time theres something to talk about. We appreciate that. Founder and ceo. United continental for their part has put out a statement saying and im quoting here we are engaging in discussion with our shareholders. We continue to po cuss on improving our operational and Financial Performance as well as elevating the experience of our employees and customers. Thats the word from United Continental. Coming up,ed to wagner spent a career disrupting tech, media and much more. His next big project has him focused on doing good and he has lots of bold faced names helping him out. Hi, im bradley cooper. Go to cherry buzz. Com. Charity buzz. Com. You know what im saying . Find out how he is turning Charitable Giving into a real business and as we head to break a look at the s p 500 sectors. Halftime report back after this. Hey dad. Hey sweetie, how was your first week . Long. Itll get better. Im at the edward jones office, like sue suggested. Thanks for doing this, dad. So i thought it might be time to talk about a financial strategy. laughing you mean pay him back . Knowing your future is about more than just you. So lets Start Talking about your longterm goals. Multiplied by 13,000 financial advisors. Its a big deal. And its how edward jones makes sense of investing. Advisor and team who understand where you come from. We didnt really have anything, you know. But, we made do. Vo know you can craft an Investment Plan as strong as your values. Al, how you doing. Hey, mr. Hamilton. Vo know that together you can establish a meaningful legacy. With the guidance and support of your dedicated pnc wealth Management Team. Hey kevin. Hey, fancy seeing you here. Uh, i live right over there actually. Youve been to my place. No, i wasnt. Oh look, you dropped something. Its your resume with a 20 dollar bill taped to it. Thats weird. You want to work for ge too. Hahaha, what . Well were always looking for developers who are up for big world changing challenges like making planes, trains and hospitals run better. Why dont you check your new watch and tell me what time i should be there. Oh, i dont hire people. Im a developer. Im gonna need monday off. Again, not my call. Coming up on power lunch, blood money. What needs to be done to cutoff the global terror money flow. Plus a housing alert for potential home buyers and the one Company Looking to clean up the electric car race. Its all coming your way but first, look at the futures now. Welcome back to the halftime for futures now. Watching the dollar rising every day against the other major currencies this week. Scott nations, is this telling us that its game on for the dollar or its just a little reaction to the hawkish commentary thats out there. Its a little bit of both. If you would listen to what the fed hah h ad to say last week yu would have thought they were allergic to higher rates. Now theyre all talking about higher rates so two weeks ago it was four. Last week it was two. Now its probably fair to say its three in 2016. Obviously the strength in the dollar has been a head wind for commodities. Do you think its going to be a head wind for stocks as well . I do, jackie. I think when you see the dollar tick up, every little tick up is bringing correlations to one. Meaning were seeing commodities weaken and seeing the stock market weaken as well and that will continue. We see it in the vix. Having a nice pop on the week so far here. Once the dollar has been ticking up so thats going to drive volatility back into this marketplace. You have to be careful. Scott is talking about three rate hikes in 2016. Youre going to see a lot more volatility in the stock market and commodities going forward. More dollar discussion on the online show when pm futures now. Cnbc. Com. More halftime after the break. Here at td ameritrade, they work hard. Wow, that was random. Random . No. Its all about understanding patterns. Like the mail guy at 3 12pm every day or jerry getting dumped every third tuesday. Jerry every third tuesday. We have Pattern Recognition Technology on any chart plus over 300 customizable studies to help you anticipate potential price movement. Theres no way to predict that. Td ameritrade. We are back on the halftime report. The Digital Space isnt at the only thing tech entrepreneur todd wagner is disrupting. A long time giver to charity, he saw the inefficiencies in Charitable Giving and runs three Online Fundraising platforms aimed at bringing charities into the digital age. This is your next big thing. Where did this come from . This is, to me, an outgrowth of the three things that ive spent most of my career doing. It has got a media component, Technology Component and philanthropy component. And my goal here was to help, i mean, disrupt is a nice word. At the end of the day, were trying to help and assist 50 501 3cs. How do you do that . As you said, sort of philanthropy has always been important to you. This has obvious philanthropic component to it. But youre trying to make money. It is a business. Were trying to approach it as a business. We felt like that was the best way to really attack it to hire the correct people. And to really make it work. Ive always viewed 501 3cs have three main issues. How do you get the baby boomer . We believe charity buzz provides us the online or digital version because we have 200,000 high network donors. The second is how do we remain relevant . You talk to many of the large ones, average donor age is 65. Got to go where the money is. Vast majority of the money raised by direct mail. Analog tass cas it can get. We believe thats the way to speak to millennials, campaigns, 10, 20, 30 30 at a time. The third missing piece to me of a lot of these organizations is how do i amplify my message . I do the gayla, i have it 200 people. We built a network of great partnerships, to allow us to get the message out in a broad way. So at the end of the day, we hope these three companies, chitto being the one that creates the content and the last leg of the threelegged stool, we hope thats going to help change the dynamic and help guide them as in this digital. You say create the content, what kind of content are we potentially talking about . It is anything that is, quote, by, for or about cause. So it could be funny. It could be it doesnt have to be the oh, crying child. This is not meant to guilt people. This is to entertain people and inform them more about whats going on. We create right now what is called a cause wire, a one minute long clip that the Sinclair Broadcast Network airs embedded in their morning news and it basically tells you what is going on in the world of cause. So i laughingly call it the early days of sports center, the idea is that in a minute, were going to try to educate you about cause and make that a part of your news viewing habits. So myself i have a 501 3c, i sponsor and fund it, i would come to your company and pay you to create that content you would place on your platform, correct in. In certain situations, yes. You might come to us in order to raise money via charity buzz or prizo on our plat formz aforms might want to have it made available to tell your story in a more interesting way, to be able to get the word out in a larger way. So were able to leverage the network. Sinclair and tribune and online partners. That way things arent just on our website or your website, oldfashioned is portal. The new word is syndication, amplification, how do we get the word out. Were trying to do that in every means possible. Facebook has been an amazing partner with us. They have the facebook Nonprofit Charity channel, were thrilled. Twitter is a partner. Im trying to encourage all of the unicorns as well to think about how they can integrate cause into what they do on a daily basis. It is so early in the process, but i think that were opening the gates to where i hope this can go. You raised more than 200 million to date. Correct . Well take another quick break. Final thought from todd wagner and the gang. Every insurance policy has a number. But not every Insurance Company understands the life behind it. For those whove served and the families that have supported them, we offer our best service in return. Usaa. We know what it means to serve. Get an insurance quote and see why 92 of our members plan to stay for life. But they demand the best shopping experiences. They may want the latest products and services, theyre your customers. And by blending physical with digital, cognizant is helping 8 of the 10 largest u. S. Retailers meet their demands with more responsive retail models. Ones that transcend channels and locations, anticipate expectations. Creating new ways to engage at every imaginable touchpoint. Its a new day in retail, and together, were building the store of the future. Digital works for retail. Lets talk about how digital works for your business. Some say free the whales. For them, nothing else is acceptable. But nothing could be worse for the whales. Most of the orcas at seaworld were born here. Sending them into the wild wouldnt be noble. It could be fatal. When they freed keiko, the killer whale of movie fame, the effort was a failure and he perished. But we also understand that times have changed. Today, people are concerned about the Worlds Largest animals like never before. So we too must change. Thats why the orcas in our care will be the last generation at seaworld. There will be no more breeding. Were also phasing out orca theatrical shows. Theyll continue to receive the highest standard of care available anywhere. And guests can come to see them simply being their majestic selves. Inspiring the next generation of people to love them as you do. I have an orcogram we for an owen. E. Thats me. You should hire stacy drew. She wants to change the world with you. She can program jet engines to talk and such. Her biggest weakness is she cares too much. Thank you. My friend really wants a job at ge. Mine too. Im a wise elf from a far off shire. And sanjay patel is who you should hire. Thank you. Seriously though, stacy went to a great school and shes really loyal. You should give her a shot. Sanjays a team player and uh. All right, we are back for our final thoughts with todd wagner. I wanted to get to you and i didnt. The Biggest Charity auction actually youve done on charity buzz was tim cook. He outraised any celebrity you could come up with. Tell us about that. The fascinating part of it is what were learning is business entrepreneurs are the new rock stars. The ability to have lunch with elon musk or tim cook and have a cup of coffee, thats important to the types of people that come to charity buzz. They know they can give back and theyre also getting an experience of a lifetime. So, yeah, raised over 600,000. More than, you know you do with like clooney or whoever else. Not that they wouldnt be fun to hang out with. It has been great having you here. Thank you so much. Dont be a stranger. Dont wait five years. Todd wagner, 29, 29 entertainment. Final thought, doc . I bought some facebook today. Ties into what todd does. There are values there. Looking at the email space. End of the quarter is coming. Health care financials will go on sale. Have a great long weekend. All youve as well watching. See you on the other side. Power lunch starts now. Good afternoon, everybody. Welcome to power lunch. Along with melissa lee, im brian sullivan, im Tyler Mathisen and will get to Michelle Carusocabrera live in brussels in a moment. We begin this hour with a big warning to all you potential home buyers out there. Right now could be the absolute worst and it is underscored here. Worst time to buy a house. Diana olick is live in washington with the whys and wherefors. Diana . Because affordability is tanking fast. Short supply of homes for sale still very low production from the Home Builders have buyers in a