Also on power lunch why your doctor is so angry and confused these days. First, though, to sarah eisen in for manned where i. Shes at the nyse. Hi sarah. Hi. Good afternoon, tyler. Were going to begin with a big deal in the transportation sector. Fedex making a major move into europe buying european rival t t. What is it this mean . Investors seem to like it. Morgan brennan outside Fedex Distribution Center in manhattan for us. Morgan. Well, thats exactly what it means. Fedex is expanding into a Market Europe that until now its had little share of. Fedex has largely focused in az wra. Instead the two dominant players in europe have been ups and dhl. By acquiring tnt express, fedex dramatically expands its presence in europe, and it does so primarily through ground operations. The chairman says there is a number of reason to do this now. The Dollar Exchange ratio was very favorable. The quantity the quantitative easing means the economy has a better outlook now than for some period of time, and we thought that the planets lined up perfectly for this move. So fedex will acquire tnt express for the equivalent of 4. 8 billion in cash and according so european laws will divest the dutch companys fleet of planes. Analyst dozen expect european regulators to ultimately approve this deal, and thats really key. Jackie deangeles. Hi, jack where i. Groo good afternoon to you. Thats right. Very significant price hike today. In the oil pits despite the fact we do have a stronger dollar. Traders telling me what we saw yesterday and today. After a huge move last Year Technology only up marginally in the First Quarter looking at the tech index. Will tech be a leader in q2 after the latest earnings season. Joining us is chairman and ceo of patriarch equity. Dan niles widely followed portfolio manager. Eric was on the halftime show today. Alpha one partners saying Technology Earnings are going to look horrible. How do they look to you . Well i think for this quarter probably up about 1. 71 over same time last year. I think going into q2 i think q2 will probably be down a point. Theres some headwinds that were facing. Clearly, one of the biggest ones is the dollar. So youve got hardware companies, Semiconductor Companies that are taking it on the chin. Intel is a good example. I also think that theres another factor at play which is the whole Cyber Security concerns and people are concerned about potentially buying u. S. Goods. The dollar is the big story, though. Eric hang on one second. We do have breaking news in the bond market right now. I gave it a cplus. It was 24 billion threeyear notes. The auction, dutch auction, added at 1 00 p. M. Eastern. The yield at auction was. 865. To me that looked like where the wi was trading. Its been at 87 basis points. The bid to cover 3. 25 close to the ten auction average. 49. 4 on indirects. If you dont look at last auction at 51. 4 on indirected this was the best number going all the way back to may of 2010. Kind of in the top two. 11. 1 on directs was a bit light. Dealers take 39. 5 . Cplus starts the first of three auctions ending with of course 30year on thursday. Tomorrow well be tenyear notes. Back to you. We know youll be with us for all of them. Joining us back on here. Eric, harm and ceo of patriarch equity talking technology. You sort of have to take technology when it comes to earnings x apple, like you have earnings x energy. How big of a deal is apple, and how everybody is talking about the watch, though. Obviously it wont be in this period. Appear the is the quarter for tech. If you took out apple, tech would likely be negative. I dont feel it will be the stellar huge hit so approximate m people are talking about. I dont think its going to be as impressive. I dont think youll see the impact for a few quarters. My opinion, though is apple this quarter and likely the next stromming every strong. Still riding off of that strong product. Upgrade from iphone 6. Were seeing Power Outages across the city in washington d. C. Our colleagues at nbc news over at the white house say that they saw a power hit over at the white house. Reuters, meanwhile, is reporting that at the state department their daily news briefing was suspended after power was lost. They have significant backup power capabilities, and i can tell you we are standing right here on capitol hill right now and we havent seen any problems with our power in this building. Scattered Power Outages throughout washington. Well keep an eye on it and tell you if theres anything more significant than just that, guys. Is there any bad weather down there thats contributing to this, eamon . No, Beautiful Day here in washington d. C. We havent seen any bad weather. A little rain overnight, but the sun is shining as i look out the window right here. Thanks very much. Reporting from d. C. Since an interim deal was reached last week over Irans Nuclear program, the Tehran Stock Exchange is up 8 . Overall this year its fallen about 3 . Dominik, why do you think iran is a good place to invest . If so what sectors . Iran is one of the biggest mismatches between perception and reality that i have ever seen in 25 years in emerging markets. Thats really what were looking for as investors. The opportunity to spot assets that are underpriced. Iran is a population of 80 Million People has the largest oil and gas reserves in the world. A hugely diverse economy. A fully functioning stock market. Those are conditions that we have never seen before in a new emerging market. Are you expecting that the sanctions will be lifted and this tieup that you have with i believe its a Company Called turquoise partners which is an in country operator will lead you to make Selective Investments there. If and when that economy or those markets open up what sectors will you be looking at first . The traditional emerging market sectors historically have been metals and mining oil and gas, telecoms and banks, and those tend to be the sectors that get investor interest first. What we have in iran though is a domestic che and a domestic stock market thats much more developed than most early stage opportunities we look at. There are going to be many more opportunities in the consumer space and in the industrial space and the manufacturing space along with the traditional sectors. In terms of where we look first, it will probably be in the banks and telecom sectors, but even there were looking at companies that are much more developed than we normally come across. Dominik, i had heard anecdotally its sarah down at the new york Stock Exchange that theres a lot of demand for investors to get in what and if the sanctions are lifted. Where is that demand coming from . Is it the u. S. . Is it all over the world . Is it investors that normally take on these kind of risks in Frontier Markets . If you look at the Tehran Stock Exchange today with the market capitalization of 160 billion and over 300 listed companies, if it was to go into the Frontier Markets global frontier market index today, it would be 25 of that index. You can be certain that every frontier market investor will want to get into iran based not only on the size of the market but also on its very very cheap valuation currently. Because there are practically zero Foreign Investors in the market right now, because Interest Rates are still very very high the market trades on a p multiple of about five times and has a dividend yield in the teens, and, again, those evaluations that frontier or emerging Market Investors cant find anywhere else in the world. The demand from Foreign Investors is going to be very much global. Okay. Dominik, let me ask perhaps uncomfortable question here. There are some people in the world who think that there is some money that just ought not to be made. How would you feel how do you feel about the idea that you would be putting money into a country whose leaders have vowed the destruction of israel whose leaders have backed terrorism in the region and around the world . Is that something that you feel comfortable with and why . I think if we were to take that route, there would be an awful lot of countries in the world that would be off limits to investment. What is clear that is that our policy as always is to follow sanctions policies follow legal policies and if the u. S. Government says yes, its okay to invest or the european government say its okay to invest then you take the view and if you speak to people locally on the ground local people are crying out for more investment. They want the money to come in because they want to rebuild effectively their country and build their country. So providing that we are doing things in compliance with International Laws i dont see that what we are doing is any different than happens in the rest of the world and will no doubt benefit the domestic population. Okay. Dominik, thank you very much for being with us. A story im sure well be following over the next months and maybe years. Dominik, a portfolio advisor with charlamayne capital in london. Go to power lunch. Cnbc. Com for more on this story. An interesting one. Late Winter Weather bringing some relief to droughtstricken california. Jen transactioning the storm for us. Were tracking the upper level low and track this through california today. Bringing rain even down into southern california. Possibilities of thunderstorms as well out here in the golden state. Were going to be watching for the rainfall to add up. Around the bay area in the first half of today already picking up more than a half inch of rain. There will be maybe one to two inches of rain in the central valley. The snowfall in the sierra thats fantastic news and there we could get more than a foot in some of the highest elevations of the see air wra. From the Weather Channel im jen carfagnu, back to you. Lets go to jane. Holding an umbrella. Looky there. Jane. Yeah. Still waiting, tyler. The rain hasnt come here to l. A. Yet. They are saying it will move in 70 chance and it could rain steadily from three to six hours. The mountains may see one inch. Look at this. Usually in a normal year whenever we used to have one of those, los angeles gets 15 inches of rain. So far weve had half that. If you look back over the last few years, golden gate weather has tallied it up. Add up all the shortfalls over four years. L. A. Is 32 inches short of the rain its used to. Now, look at this live picture outside. Our beautiful brand new San Francisco bureau. It has been raining there. Sure hope it moves down here. Their fouryear deficit in the city by the bay is worse than l. Affirmative actions. Theyre 33 inches short. While its hard to talk about cutting back when rain is in the forecast, the problem is we dont have all that many reservoirs. We havent invested in that sort of infrastructure along. The water goes right out to the ocean. As one guy in fresno joked, which is in the middle of california farm country, too often a weather front will come in, it will see fresno and go around the other way. You can say that sarah, for much of california over the last four years. Back to you. Maybe you keep your umbrella open. It will come. Jane wells, thank you for the update from california. Americans lovehate relationship with technology has made us more productive, but how is that helping us earn more money . Weve got exclusive results of our cnbc all America Survey coming up next on power lunch. It took tennis legend serena williams, fencing champion Tim Morehouse and the rockettes years to master their craft. But only moments to master paying bills at chase. Com. Depositing checks at the atm and transferring funds on the mobile app. Technology designed for you. So you can easily master the way you bank. Hello. I am here to offer sophisticated investing strategies. My technology can help you choose the right portfolio. Monitor it. And automatically rebalance it. All without charging advisory fees, account service fees or commissions. That may be hard to compute. But im a computer. So trust me. It computes. Say hello at intelligent. Schwab. Com Many Americans bring their work home with them every day. Some americans bring their homework cell phones being connected to the office made us more productive. It certainly has, but is it making us richer making us earn more money . Good question. That i am suspicious of. Do you have gizmos in your pocket . Just a car key. Thats all. In our cnbc all America Survey we asked a different question than we usually do. Among the questions we asked is peoples relationship to technology. In the last hour we talked about this issue of peoples fear of losing their job to technology and its quite palable. Especially among the poor. We asked a simple question to start with. Are we more efficient . Lets take a look at the data here. Yeah, people say that. 32 , a surprising lie high number from my time say it has no effect on how efficient they are. Sometimes i feel that way. Some people say 59 of americans, over 800 americans polled from all walks of life say it makes them more productive. Thats a good question. A better question if we move this over to the side here we ask the question, are you paid for your efficiency . Of this 59 , 61 , no, my wages are the same even though im more efficient. 3 say they went down and only 35 , many of them post grads, higher education, say their wages are actually up as a result of their efficiency. Then we asked about technology in the workplace. The stuff your boss gives you to work with. Less than 10 say its cutting edge. A smaller number about 21 , 22 say we have advanced technology. But the biggest plurality hear 48 say its only average, and 11 , tyler, say their technology is outdated. You hear that . Get a couple of computers for your folks out there. Thats right. Pay them a few extra bucks. Sfli like the rotary dial phones, man. I miss those days right . Dont you like those . Once ringy dingy, two ringy dingy. Thats going back. Thats lily tomlin. In the next hour on power is Technology Killing american jobs . The author Andrew Mcafee will join us. He has written extensively about the impact of tech on business and society. Sarah. All right, tyler. Ever heard of this . Icd10 . What exactly is it and why is it scaring the hell out of your doctor and whats it mean for you, the patient . Its going to have enormous ramifications for health care in america. Thats coming up. So whats going on today . News alert message email calendar update most of us admit to being overwhelmed by information at work. Thats why ibm created verse. It uses powerful analytics to uncover hidden patterns in your email, calendars and social feeds. It continuously learns how you work. And helps you prioritize the people and projects you need to focus on. Theres a new way to work and its made with ibm. [ female announcer ] who are we . We are the thinkers. The job jugglers. The up allnighters. And the ones who turn ideas into action. Weve made our passions our lifes work. We strive for the moments where we can say, i did it we are entrepreneurs who started it all. With a signature. Legalzoom has helped start over 1 million businesses, turning dreamers into Business Owners. And were here to help start yours. Rick santelli here. There is something important. Exactly one month ago the yield was at 114. Its currently at 84. Those 30 basis points reflect in some part an opinion of when the fed will or wont tighten. Twoday euro vertsdz dollar. The euro is getting slammed, and, of course look at the twoday dollar index. Mirror emage has dollar indexes up to a penny on the day. Back to you. Thank you very much rick santelli. Complicated system of coding and billing is coming to the United StatesHealth Care System in the fall. It could cause your doctor to be sort of basically pulling his or her hair out. Bertha coombs has the story for us. What are the details . If you think medical billing is confusing now. Just wait. The government wants more detail on medical care and spending so its rolling out a new upgrade called icd10. Its going to mean an eightfold increase in the number of codes your doctor has to input. Dr. Andrew cl iman thinks gathering data is great, but the switch could put solo practices like his out of business. Consultants tell him to keep three months of cash on hand to deal with the inevitable glitches. We should have reserves either in a credit line or in cash of three months of income because we might not be getting any income for a while. For a small practice that could be devastating and could put some people out of business. Hospitals are worried about getting paid too. A Medical Center in kansas city has said their systems have worked well with the it provider. Theyve had to invest nearly half a Million Dollars in upgrades and training and consulting. Analysts say for smaller clinics and doctors offices, its going to be much more challenging to keep up with the changes. Doctors groups like the ama have asked the Obama Administration to come up with contingency payment plans for the october 1st rollout. For now the Administration Says no matter what the deadline wont be pushed back. Sarah, its been pushed back several years now. Yeah. Another interesting change coming along here with obama care. Thank you. Taking a look at the markets. Here the dow is up for a Third Straight trading session. Took another leg up higher. Almost up 100 points as we speak. Its also, by the way, back to being positive for the