Sunglasses he is wearing there. Or maybe not. I think people will buy them. Under armour making a big push into asia. We have more with the company ceo and with stef curry and live coming up. Sarah, staying up late with us. I told you, the da test that completely changed my life a couple years ago and the book i wrote about it, plug, plug, plug, today we are looking at big business of genome sequencing. The cost is plunging. But there are some people still willing to pay 25,000 to have their whole genome sequence. I noticed we dont have griffeth in quotation marks. Not today. I know who i am. And we will talk about the value of his company and latest news in drug pricing, joseph papa coming up next hour. Meantime, the stock market sitting here down 23 point. A lot like yesterday and all of the last several weeks here, the beige book out today which didnt enlighten us again too much about the economy. Job openings at a record high. In terms of some movers today, on the apple news, look at fit bit, look at go pro. Getting more details about what is happening with these new device answers some competitors have some doubts. Lets go to the event, ka kay kay la taush has more for us. Kay la . Lets run through what you will get in the devices. More storage starting with 32 gigs. Thats double the previous line of phones. Then moves up to 128 gigs and 256 gigs and the company will extend that to new purchases of the 6 and 6s lines. You will get a battery that lasts between one and two hours longer. One hour longer on 7 plus from the 6s plus. Two hours long owner the 7. Part of that is powered from two new chips that are going to be embedded in the iphone 7 and 7 plus. The company described them as rocket ships. They said dont throw away your dslr just know this is the best smart phone camera on the planet. If you get the iphone 7plus you will have a dual camera that includes tell photo or better zoom optic lens on that as well. Then on both of the cameras, you will have an hd camera on the front for when you face time or take all those selfies as i know you guys do. Perhaps less controversial is the addition of the new head phones. Apple did away with the head phone jack that we used to know on previous models of the iphone. Instead, they are moving to the lightning port. Thats what we used to use to charge our phones and still will. Now head phones will plug in apple if you buy the 7 or 7plus you get new head phones and adapter for old head phones then they will try to sell you something new called airpods. These are are little baby wireless ear foephones basicall the size after cuff link. Operate through a wireless chip present and they will have to be charged separately. Apple will provide a charger but have you it pay for them. They cost about 159 and they will be available in late october. It will be interesting to see how those are received from consumers as they hit the selves. The new apple watch 2 came out. Faster processer pb better screen. New ways to contact Emergency Service if in fact something happens. A special nike edition of the apple watch available in late october and they took prices down by about 30 bucks for both the series 1 watch and this new series 2 watch. Of course there are Software Updates as well. Updates on apple pay. On siri and stats on apple music. But it is really going to be the iphone which makes up for a solid two thirds of apples revenue. People are going to be partsing and seeing what it means for the companys bottom line. Guys . So many things that are interesting here. They will change behavior a lot. It is part of the evolutionary process. They make us change our behavior when new stuff comes out. The airpods, do those handles point downward or up in the air . How does that work . Like an antenna . I dont know. Depend on you. I havent gotten to hold them in my hands and see how they operate. It looks like they should fit right into your ear but they are very small. I know that in the lap rin j that is my purse, they would never make it out alive. But perhaps they are more organized than i am. Joining us, awelcome to you both. Max, what are your thoughts from what we have learned about the new product launches . Certainly no excess humility or underpromise here. But we have come to expect that. The phone is interesting. The phone is the story. This is a phone company dragging around other exciting stuff. Until we get Virtual Reality, this is the story. I think there is very invenus things. The new earpods, even though they arent great, they will advertise to the world whether or not you have the money for the new phone. Other thing that is exciting to me is as you get the new phone they can discount the old phones. Thats where the real growth is on unit sales. Because almost all the growth in smart phones is not the western and developed world which is replacement cycle but the emerging markets where the lower price 6s is about to become hopefully a hot selling item all over the world. I know is clear and obvious, but i find it ironic that they dont talk about the phone itself. They talk about the features that go with it. Is this as evolutionary as we thought or is there something in there that caught your attention . Thats exactly right. Apple has become a solid valued company. Well positioned to take advantage of the marketplace right now. But not a revolutionary company any more. I wrote my notes a week ago and the notes are the same. They talked about exactly what they what was said in the media. And you know, it is still a great solid company, solid phones, that you watch is what the first watch should have been. Gps and other features. But definitely an revolutionary company as we come to know. Let me ask you about a couple of things. Is there a dual camera . That sounds like what this phone will have. Thats a big question. A source of differentiating other phones on the market. Yes. The dual camera is available in 7plus model. Obviously superior camera. Saying the best theyve ever built. But unless youre a photographer and can you tell the difference, is hard to tell the difference. You know, i take great pictures with my iphone 6. Not running to get a new phone because of the camera. One more question, is there a different kind of Wireless Technology apple is using with these head phones . Because it doesnt sound like it is bluetooth. Sounds like it is similar. But would this technology be a new thing here . How is that going to work . From what i heard. They have a new chip in the airpods that it is going to improve equalist transmission between the earbuds and your phone and this is something that the technology that is being kind of stale and i think with the wireless head phones and ear spos pods and that will improve over time. Which is great for us. Who likes wires anyways . Max, before we go, the rest of the gerber kawasaki shop, they love apple. And they feel it is okay for this company to mature. We dont need sizzle from apple any more. They can grow and thrive without that. Do you a agree with that . Yeah. But i think there is some sizzle to be found. The new chips are exciting. They are fast. The iot tie in things around the head phones and the house is smart. Apple pay is smart. Apple pay is a chance to be an om any chat checkout option. I think we see that with japan, new credit unions, banks and folks like market pay pushing a whole new way it use this for Live Streaming video and check out. Still a lot of big and exciting things going on. Your life is not just different. And at some point perhaps the presentations they give will settle in to the exciting if not completely earth shattering new technologies they release each year. The next two point, that i think are important, Virtual Reality and maybe apple is setting up for the iphone 8 with those two topics in mind. Something to look forward to. That got kellys attention. Good to see you both. Thanks for joining us. Thank you. To the closing bell exchange. With the dow down a fraction, 18 points. Jason brown from Fund X Investment Group is with us here at post 9. So is steven sarge and Rick Santelli checks in with chicago as well. Sarge, we had the beige book, apply named beige book. What did we learn, if anything . How frustrating is the Federal Reserve bank. Really. John williams, which he has been doing lately, and she is no joe namath but i like her. She thinks the economy is at full employment. 4. 9 . You know what is not growing modestly or moderately . Gdp, wage growth, auto sales, worker productivity, ism manufacturing and ism nonmanufacturing. Isnt this the way it is going to be a for a while . What it means is that they are unable to raise Interest Rates like jawboning at this meeting in september. Can you imagine the perception in the perception if we went into a recession . We never have gotten that far away from recession. If we went into recession after raising rates, you think they lost credibility at this point, could you imagine it that point. Lets talk about areas you like including mid cap value space. Pretty specific. But what are your ideas for this environment . I think the market leadership in general is broadening. This year we went from sort of the dividend funds to funds like i j. J. Or mid cap value or if you like mutual funds you can look at Artisan Value investor but mid caps have been doing well. Small caps doing well. And one of the nice things about that is i think theres a lot of investor concern with the election coming and september coming and so forth, we will have some kind of pull back. And yet at the same time we see the broadening leadership which isnt the kind of thing you see at market top. Any market is a buying opportunity. Rick, do you think the economy hold here the way it has going into the election . Or could we see volatility in the meantime . If the fed does something you will see volatility, which is probably why you wont see anything from the fed. There is a litany of indicators that if you use the term nod ra moderate you are probably being kind and it isnt congruent and look at today. 5. 87 million record job openings in the report. After pondering that, all i could think of is maybe there is a skill shortage. Everybody out there, dont fib. We all like to read the blogs. All like to read the wild web sites every now and again, in addition to cnbc, best of the bunch. But 1 in 6 abled bodied americans arent working. This is all over the internet today. Thats comparable to the depression. When you take bubblicious event like the employment area, which the fed has gone overboard to get that one pillar right, once you start to dig you never really find the gold and exactly what is that goal getting you if those quote unquote litany of jobs and the fact sarge pointed out were close to full employment if it doesnt garner the type of wages that the type of consumer growth so you know millennials can buy housors qualify for credit or translate into productive uses in economy that translate into growth and higher tax base and less debt. Whats point of it all . Something doesnt add up here and i continue it hear many expert we had one yesterday at 3 00 when i bit my tongue, bit my lips. When you use the bubblicious event, the proof after good economy, tight spreads, demand for corporate, just behind the sublime and makes no sense. Gentlemen, i would like to talk more but this apple event is causing us to move on here. We have about 45 minutes left to go here. With the decline of 15 point at the moment, s p is a little bit lower. And we are watching the nasdaq with a record high close yesterday. Very quietly. Very quietly. And areas of strength. Amazon today, facebook and ebay. Up next, under armour with a market share in asia. We will go live to taiwan where sarah eyesen sat down with kevin plank and marketing front man and nba superstar steph curry all coming up in a moment here. And then later, valiant ceo talks about drug price hikes. Youre watching cnbc first in business worldwide. Lepes foods is a locally owned here in santa rosa. As a small business, were always looking to save money, and pg e was able to help us. I help the Small Businesses save money and energy. It feels great. We looked at their lighting, their refrigeration system, and with just those two small measures, they were able to save a good amount of money. I was shocked. I couldnt believe that i could save 1,500 a month. With the savings that we get from pg e, were able to pass it on to our customers. Its pretty awesome. Learn how your business can save at pge. Com businessenergycheckup. Together, were building a better california. This is the new comfort food. And it starts with foster farms simply raised chicken. California grown with no antibiotics ever. Lets get comfortable with our food again. Welcome back. Chipotle nearly 6 higher. And ackmans personal capital disclosing the 9. 9 stake in the burrito chain. Still trying to win back customers after last years fate of food born illnesses. A huge play for market share in taiwan. Sarah is there. And with two time mvp steph curry, and sarah our own mvp, joins us to recount that for us. Good morning, sarah. Good morning. 3 18 here in taipei. We came to taipei and hong kong to get an up close look at what curry and under armour are trying to do. They are trying to fight for a piece of what has become a major consumer opportunity and that is the basketball Sneaker Market in asia. We followed them as curry scrimmaged games with players at high school here in taipei. He dazzled a crowd of thousands at a major stadium with his famous threepointers and along wait took a zillion selfies with fans. Why is he doing this . Because they understand, in china for instance, nba is the top selling league. More than 300 Million People in the country play basketball. It is double digits for under armour and nike which is 25 times that of under armour in the greater region. With that comes unique challenges. Not just competition from nike but from players and counterfeites. Like a brand called uncle martian. A chinese apparel maker with a logo closely resembling under armours logo. I asked him what he will do about that and listen to what he said. In some ways it is a compliment that you find out you have that. But there are serious issues in china a specifically that need to be dealt with. So it is one of the things we reach out and ask the government to help us with. They are working towards it and i think they are making good strides. But you know, it is pending ongoing litigation that heaps when someone says we will do our version of your company. But our trade mark and our ip is something we take incredibly seriously that we are dealing with and it is not as easy as you think, though. Curry has ambitions for the region as well and for his own line of sneakers which we talked a lot about about the curries. New curry 2. 5 with new design specifically for this china tour. But so far these sneakers have been selling as performance sneakers. And he hasnt captured the sneaker head market like nike has say with jordans where the sneakers are exclusive and people line up for them and they have high resale value. So i ask whether these were plans steph had. Listen. We dont have that clip. But he says he is just Getting Started and hopes to penetrate the market. That opportunity takes time. He looks up to kobe bryant in terms of leveraging his global brand. Just Getting Started and thats the same exact answer i got from plank when i asked him about his growth stage in this china market. The question, for investors, is is it happening fast enough for under armour for it to grow into its leverage and that depend on the centerpiece which is steph curry and his performance in the season coming up in a few months. I never cease to be amazed at interest they will have in u. S. Sports over in asia. It was understandable when you ming was playing in the nba. A tall chinese man. But how does steph curry or any nba star that is not of asian descent play in asia there . It is a phenomenon and one that nike tapped into very much. Espn put together a list of the most famous global athletes in the world. And in the top 10 you saw a lot of soccer players. No surprise there. That has international appeal. But the other players, lebron james, kevin durant, kobe bryant number 11. Stef curry at number 34 which shows that he needs to really leverage this brand intern internationally. But there is a real fever for nwa players and it was amazing to see the fans that couldnt understand a word curry was saying, they didnt understand english, but they love him, worship him. It was like traveling with elvis which is a quote borrowed from kevin plank. It is one where the brand, under armour, nike, adidas, can translate into sales of basketball sneakers. But they are very universal. Not like selling soccer cleats. Can you wear them on the streets and it something you see all over the streets here as well. Great stuff. Sara, again, thank you for staying late. Now 3 23 a. M. In taiwan. My pleasure. See you later. It is a poetic performance there. Breaking news now on intel, by the way. Don has details on that. What we have are dow jones reports citing sources that intel is nearing a deal to sell mcafee secure it to private equity term tpg. The report goes on to say the deal could value mcafee at around 4. 2 billion. That includes debt. Also this deal could be announced as early as wednesday as we could expect a deal sometime soon. This is the same deal intel paid about 7. 7 billion for in 2010 when paul odolini was still ceo. We will see if this effects intel stock. But for now big news about cybersecurity. They will probably be happy to unload it. Stock not moving. Still down a fraction at the moment. Head together close, 35 minutes left in the trading session here on beige book day. Didnt move the market a whole lot. Dow down 13 point. But nasdaq in recordtory. Up next, genome sequincy is in a blockbuster. There are a wide range of options now available. You wont want to miss it. Plus, valeant ceo, joseph papa, talks about drug price hikes and whether his company will follow in limiting increases. Using 60,000 points from my chase ink card i bought all the framework. Wire. And plants needed to give my shop. A face. No one will forget. See what the power of points can do for your business. Learn more at chase. Com ink see what the power of points can do for your business. Mary buys a little lamb. One of millions of orders on this companys servers. Accessible by thousands of suppliers and employees globally. But with Cyber Threats on the rise, marys data could be under attack. With the help of at t, and security that senses and mitigates Cyber Threats, their Critical Data is safer than ever. Giving them the agility to be open sec