Films helping in chains, but could summer hit ticket sales . Well, i just believe it or not, i went to a movie sunday night. I saw guardians of the galaxy. Did you like it . Loved it. Did you like the first one . You know what . I dont remember it. I dont remember it. This one i remember. I saw furious 8, the fate. We have so much to talk about with bob iger, a live interview with the ceo, first on cnbc before speaking to analysts. Now you can take the graphic down. So much speculation about his president ial ambitions too, these days, much to discuss with him. Beginning, though, with Goldman Sachs, ceo Lloyd Blankfeins statements made in the last hour, and we sat down with mr. Blankfein to talk about the financial sector. This is what they talked about. Do you think the u. S. Banking sector is over at the moment . I do. I do. Look, we had a very the system had a very, very big trauma, and we legislated very quickly. There was a lot of demand for it. The issue was, you know, what should we do . Regulate capital . Regulate liquidity . Prepare for prepare for the things not working and have text for how people respond in case theres a crisis, or a resolution, call for resolution. Theres even a regulatory overlay that tries to define a state of mind, why you took on the position, and which of these should we do . Do all of them. What are yourq1 earnings. Significant trading . Significant trading. Came down to a couple businesses. Mainly our commodity business and currency business, but we were looking at all the businesses and quarter before, we outperformed in our trading business. This quarter, underperformed. Guess what. Im happy to report we are human. We are probably the large bank that best positioned for return to glasssteigl because were not aup ver sal bank. Weve some functions, but minor in relation to the banking activity. So lets bring in wilbur now. Thank you for sticking around. I wanted to ask you, as well, taking this part of it out, but when lloyd was talking about the miss in the quarters, he made it sound like trends against active management is a trend against goldman. I think, well, in the past, they said its down for volume. Clearly, the other Investment Banks did not see that volume, and what he admitted here was there were misses in positioning, particularly commodities and that were human so mistakes were made. Of course, he pointed to the beat the quarter before, and, of course, he hopes moving forward theyll go back to a beat rather than a miss. Its a question mark and one this answer doesnt clear up as to where they head next quarter. You know, on the regulation issues talked about, he welcomes glass steigl and sense he welcomed it because of what it does to the competitors, not necessarily his bank, huh . Exactly right, bill. Two big headlines making this interview, that was one of them. Easy for him to dodge the question. Would a return to glasssteagall, be a benefit to you over your rivals . He was very, very clear its easy for them to enter relevant to the rivals. Of course, raising the question, if the person in the administration, why is he pushing it . We should say Lloyd Blankfein is clear he didnt think it would return because it puts the u. S. On a relatively uncontested footing to to banks around the world, but clear response there, if it comes back, its beneficial to him relative to his big Investment Bank than his rivals. Several weeks ago, we asked about what would happen. He laughed. Said goldman shares double if thats the case. Youre right. Mr. Blankfein did not exactly, you know, put down that idea that they would benefit. I wanted to ask about, you know, at this point, their positioned, having come off this period in a market with little volatility, and, you know, how much is a concern . Well, absolutely. I say thats the other big take away. On issues of growth, optimistic. Saying trump changed expectations. Deregulation over prospect is a big part of that, and he said it was clear that Growth Outlook is better than it would have been in the other potential administration. For markets, youre right, pointing to the fact that every time, like the greenspan era, theres areas of low volatility, no risks on the horizon, but we are quickly reminded there are risks out there, quote, that the low volatility, itself, is a kind of bubble of confidence. So i think hes optimistic about growth in the u. S. , but a warning sign there in terms of the market levels were seeing. Good stuff. Thank you. Thank you. Well have more for you next hour. Looking at the big tech names hitting alltime highs today. Apple on track to close above 800 billion today, and Warren Buffett spoke about this yesterday. Take a look. When we bought them, the shares were more reasonable. Apple didnt have to do a lot better in the future than they were doing at the current time. When you get into a google and amazon, youre paying for the future more. Look, they may well have a future. That is more than justified. So is there still room to run in the tech sector with some of these faang stocks . Talking about it in the Closing Bell Exchange today. Michael back with us from hightower, at post nine, sitting next to steven and Rick Santelli checking in from chicago as well. Michael, for you, for example, apple, thats a hole right now. You are not committing new money, is that right . I would not commit new money to it, but what apples done with the earnings, with the revenues, cash is more than many of the companies combined in a thing. Revenues are higher than many of the companies combined. Look, in the middle of the triple crown season, buffett and cook are good jockeys to bet on. I dont buy more, but hold on to what you have, and let the momentum carry it for a while. Focus is interesting to me on market cap. Kind of funny because the cap would be bigger if they had not done huge buybacks, so the size of apple is smaller, the Share Performance has actually been a lot better lately. What do you thinks driving the market . You know, if you ask me about today, higher yields and higher u. S. Dollar drives markets all the way. If you try to ask me about the tech names, well, long a few of the faangs. Speaking from my own money here, but i like them going forward. I like apple, even though stayed out of apple for a long time, got in late in the game, and i still have a nice return. For me, im thrilled with the way apples going. Amazon, i love amazon. Dont you love amazon . Order things all the time. Every hour. Comes right to your door. Great name, but walmart is another rising tech name, and they are going to take on amazon, and i think successfully. Walmart, more than long amazon, and i get we can go down the retail avenue here if you want to get on to wait, i want to start at the fact that you think walmart is a Rising Technology company. Favorite little baby now. Said if its valuation story, thats one thing, but you think as a Business Market share story . Oh, walmart have you read about the store no. 8, all incue bay tor businesses . They have the Distribution Network as much as amazon does. Im not saying i bet against either one of them, but i after saying i root for walmart. All right. Rick, let me pivot you back to Lloyd Blankfeins comments on banking regular laces. He welcomes glasssteagall. Youre not a fan of that, but you want regulations to go away. Heres another major guy from wall street who is not really upset with the regulations put in place, and, in fact, welcomes another piece here. Yeah, you know, this is a tough one. Obviously, after the crisis, there was overcompensation, in large part by the central bank and the fed wearing the regulatory hat. Congress overcompensated with the notion that, you know, if we make them hold all capital, we are safe. Of course, theres the more capital banks, the less there is to lend out. Theres no magic number for what capital ratios are correct. Take it a step further, you know, the treasury gives very special treatments, of course, to those that hold treasury securities. Municipal securities, they get smaller haircuts, pay interest on reserves. Distortions are everywhere. I agree e with lloyd, but i agree the markets have to find what the best thresholding per capital are. But, if you try to seclude failure to large institutions, you cant ultimately get what the market correct number percentage is so we constantly tinker with it. The fcc doesnt have a problem leveraging etfs, right . At the end of the day, if they explode, taxpayers are on the hook. Buyers be wary, but we dont have the society now, not really only in the u. S. But in the world, that believes that. I dont think the answers are going to come easy, and i think the more we try to do it by committee, the worse outcomes will be. All right. Im still thinking about walmart. We got to go, but i have to say, i ordered from there not long ago, growing up loving walmart, it was a savior in a small town community, but the functionality on the website alone is so awful, if they cant fix that, you know, immediately, its unusable. Thats why investments go there. The stock price of walmart right now, when the Retail Sector was dumped, walmarts up five bucks, a stock dormant for a long time. Yeah. I think this is a rising giant willing to fight, and its going to be a fight. This is one you have to watch going forward. This is the generation to please, too, right here. She wants i do like instore pickup. Fix the search. Thanks, guys, appreciate your thoughts. Thank you. 45 minutes to go here, and dow sitting on 21,000, down about nine points right now, s p lower, too. Transports, though, up nearly 50 points. Oils lower. Nasdaqs up 19 today. Russells up a little bit. All over the place. Vix almost back to 10. Oh. More trouble in the Airline Industry. When will this end . Which carrier is in the cross hairs this time, and what led to airport chaos. If case you have not seen the video. Its crazy. It is. Also head, disney, news corp. , nvidia some reporting earnings today. Bringing you the numbers, analysis as soon as they hit the dap, and bob iger speaks with us on a first cnbc interview after the results. What he says could move the stock, ask him about political aspirations. I wondered, how do you get the collar to sit that high . Thats what i want to know. Well ask about that too coming up. Coming up. This is where i trade andrs. Manage my portfolio. Since i added futures, i have access to the oil markets and gold markets. Okay. Im plugged into equities trade confirmed and i have Global Access 24 7. Meaning i can do what i need to do, then i can focus on what i want to do. Visit learnfuturestoday. Com to see what adding futures can do for you. Shis it dna or olay . Er than she should. New Olay Regenerist helps take years off your skin age so you can look younger. Who needs dna when you have olay . New regenerist. The power of a low volatility investing approach. The power of smart beta. Power your clients portfolio with powershares. Before investing, consider the Funds Investment objectives, risks, charges and expenses. Call 8009830903 for the prospectus containing this information. Read it carefully. Distributed by invesco distributors inc. Unbelievable, shares of spirit air lower after the discounted carrier abruptly cancelled nine flights late monday night in ft. Lauderdale that led to this chaosic scene. This is ridiculous. Heres what one of the passengers actually some of what the passengers had to say afterwards. Lines were two to three hours. I cried. Im not going to lie. I cried. And, today, the airline is suing its pilots union citing alleged unlawful job action by spirit pilots. Phil lebeau, here we are again, another day, another airline mess, and somebody has to be fibbing here. The airline is placing it on the pilot saying that they refused to take some of these open bookings, and these guys are in a negotiation for the contract, and the Airline Pilot association says, no, operational problem on the part of the airlines. Whats going on here . Right. Well, it worked out, probably over the course of the next week. Once the airline, any airline goes to court, usually in relatively short order, it gets worked up. The court says, look, youve got to have flights going as scheduled here, work something out, and, usually, when the things come up, not often, usually they get worked out within a few days to a week or so. That doesnt help the people who have been scheduled to fly on spirit flights cancelled. They are irritated. We talk about this before. Flying is stressful enough for a lot of people, then you add to the fact youre scheduled to be on a flight, two, three hour delay, long lines, boom. Just takes one passenger getting upset and you have what happened last night. I just dont think we should normalize this brawl. Listen, i sympathize with everybody whos been stranded on the runway, but, like, you know, people were fighting in denys, like, its one thing for people to be upset, bill, but this has nothing to do with the airline story. I think its open season on the Airline Industry right now. This should not be happening. Is this all summer . This is law and order issue, why are you brawling in the middle of the airport . They are not allowed to do that. People were arrested, by the way. Three people were arrested. Happens in any airport. You see it lumped in with the other airline issues that have people saying, well, look, Airline Travel right now is a terrible experience, blah, blah, blah, you hear this on a regular basis from people, and, yet, take a look at shares of spirit. They are up 50 this year. All the other Airline Stocks are up as well. Why . Planes are full. They are profitprofitle. They are generally speaking r running businesses to, you know, bring in the bottom line there. This is why investors look at this and say, sure, headlines, but its not telling me to stop investing in the airlines. You know, here i thought i would be work up over shares of hertz, but its not just anywhere close, i guess. Yeah. I mean, pivot to hertz there. This is another example of incredible softness in the used car market right now, isnt it . The used car market is soft, and hertz admitted they shot themselves in the foot loading up on too many cars and sedans in a time people say, if im representing a car, i want a crossover or suv so youre not getting as much use from the cars. Compounding that problem is this drop in used car prices, so that when they start to sell these, they are not getting as much money as they expected. This is an industry, the rental car industry thats feeling a lot of pressure, not just from the Ride Share Companies like uber and lift, but also from other people saying, how are you using your capital . How often are the vehicles rented . How much are they out on the road . For a lot of investors, they look at this saying, im not comfortable with where this industrys headed. Thats for sure. I dont know what mitigates it, too, phil. Thats why it was surprising to see how big the share response was. So many stories we have been talking about for a while now. That was a huge miss on hertz part. Yes. Yeah. All right. Thank you, phil. See you later, phil. You bet. Phil lebeau wrapping up everything that happened in the car rental space today and airlines. Those airlines, crazy. 40 minutes left in the trading session, dow down 23 points. Another day of not a lot of volatility, but any positive close today for the s p or naz a dak will be another new alltime high, and so far, looking good. Not that it got that much attention, by the way. Svery, very quiet here. Adding a site to the home device, but do customers see the benefits . Disneys earnings ondeck after the bell tonight, and the industry watches what reasons cuts at espn has on the magic kingdoms ceo and the company. His the ceo, bob iger, speaking with us on a first on cnbc interview after results are released. Stay tuned for more on closing bell. Bell. Mom gets breakfast in bed. You get to do the dishes. Bring em on. Dawn ultra has 3 times more greasecleaning power. A drop of dawn and grease is gone. Whyour boss . Ork for . Yourself . Your family . Our Financial Advisors are free to realize a plan to fit your familys unique needs. Well listen. Well talk. Well plan. Baird. Your insurance on time. Tap one little bumper, and up go your rates. What good is having insurance if you get punished for using it . News flash nobodys perfect. For drivers with accident forgiveness, Liberty Mutual wont raise your rates due to your first accident. Switch and you could save 509 on auto insurance. Call for a free quote today. Liberty stands with you™ Liberty Mutual insurance. Welcome back, a look at sturm ruger. The gun maker reported Quarterly Earnings beat, sales fell amid inventory backlog. The store stocked up ahead the election last fall, since donald trump was elected, its been tougher for the gun makers. Right. Still, 10 bump from where its been. Big comeback there. Meanwhile, amazons at it again, unveiling a new echo device, the new version of the amazon echo called the echo show. It is the latest version of amazons voice controlled system since alexa. Theres a 7inch touch screen display and camera, ability to send messages or make video phone call, and its now available for preorder on amazon. Com and costs 229 or 230 rounding up, and ships june 28th. With the new capabilities, viewers can do things such as see who is ringing the doorbell. Fit a camera to see whos at the door. You can watch news briefings. Like us. You can watch us, i guess. Youtube. And sport events. Watch highlights. New data in emarketer says amazon now has 70 market share in this voice activated speaker market. The echo show is amazons fourth edition to the echo family. Shares slightly higher on todays trade. Question okay, you have one. I have the original echo. Original. Im a rat in a maze. I listen to music. Thats all i do. I mean are you concerned about it snooping on you . I dont care. Really . No. If they want to snoop on me while i cook dinner, fine. I cook dipper and turn on the music. What if it has video . I dont know. Maybe im naive. Do you want the video version . Is that a Christmas Gift . I dont know. It just seems like ov