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tv   On the Money  CNBC  June 18, 2016 5:30am-6:01am EDT

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sprks hi, everyone. welcome to on the money. i'm becky quick. rise of the machines in your kitchen and in your home. a fridge that sends you a shopping list, recipes and an oven that can cook. amazing technology helping one vietnam war veteran. an arm that sounds like science fiction but it's science fact. >> i have much more finesse. this is my power grip. >> father's day money lessons from kids. what you can learn about your finances from your kids and what they do better. keeping fido or fluffy safe. how to keep your pet out of harm's way. "on the money" starts now. >> your money, your life, your
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future. now becky quick. >> our houses are inanimate objects made of wood, brick, concrete or glass. more and more they are getting smarter and more connected. is that good or are we giving too much control to technology? that's the cover story. doorbells with cameras that let you see who's there. thermostats can be changed from a smartphone. technology is integrated into our homes. major tech companies are leading the advances. amaz amazon's alexa speaker and google home now work with smart homes and apple announced home which lets you control and connect multiple home devices in one place. consumers are opening their pocketbooks for homes of the future. 64% of sales associates say buyser are interested in homes with smart features. you may find food sensors in the refrigerator that tells you
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which food is expiring and a cutting board that lets you know what's on it. kevin brown is ceo of innit which is working on an oven that can sense the type of food on the rack and will automatically adjust cooking time and temperature. will people embrace the new technology? joining us to talk about the things happening in a high tech home sam cass, former white house chef and chief experience officer at innit. also the managing editor of technology's news site. great to have you here. >> good to be here. i'm intrigued but wary. how will this help me make dinner in the future? >> we focus on helping people eat and live better. cooking now is too hard. it's stressful, takes too much time. >> attention. >> well, also that we are
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worried it won't turn out well. if you look at the kitchen, in a weird way technology missed it. our eyes are moving at light speed and the kitchen has basically been unchanged. >> since the microwave. >> it's the only thing for decades that's happened. it's hurt our health. people cook less. >> tell me about the innit oven. >> we have a major partnership with gen-air and whirlpool. you can cook food with the app and ensure that, say, a rack of ribs can be done in less than 50 minutes and will be perfect. >> no matter how badly i mess up on what i tell it and put in, it will tig figure it out. >> put it in, hit the weight. you're free to help your kids with homework, prepare other dishes and not worry. >> that i'm burning it or it won't be done in time.
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>> it's that risk people can't afford to take on a weekday. it keeps them from cooking. they order out or do a frozen meal. that's under mined the health and well-being of families. if we can make it easier and stress free to cook we can unlatch potential to eat and live better. >> i like the message. dana, let's talk about other areas of the home. things like the thermostat, locking the door, security features. what other things are going into the home these days? >> it really is every aspect of the home. not wrus the kitchen but as you said thermostats. there is a security element to it. we have seen connected cameras. we have seen, as you said, smartlocks and smart beds that have sensors that can -- >> that's creepy. what are they tracking? >> i see you're wearing a fitbit. it's the same or similar sensors in the bed to track your
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sleeping habits without you having to go to bed wearing a bracelet. >> there is a concern about privacy. how much do you want people to know what you are doing in the house. when does something going go from being helpful to creepy. >> you're seeing gadgets, nice to have things. for us it's focused on what's going to help people. >> it will be useful and make lives better. >> this is not technology for technology's sake. we can really go off the path and it confuses and complicates things. if you have 15 different sensors doing 20 things it makes life harder. we need to make life simpler. >> i will eventually get dragged along kicking and screaming into the new products. at the beginning i'm reluctant. i think, my gosh, that's one more thing to break i have to call in an expert. what if i can't shut this off or turn it on. what's the answer to that? >> we'll see some convergence
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eventually. right now apple already makes the underlying technology that underpins some of the gadgets. now it's been a wild west. each company is trying its own thing, experimenting with different products and apps to go with them which is really key. that's the way to interface. >> it's useful. >> absolutely. some companies are better than others. it's interesting to see apple jump in this week with the home app to allow people to control different gadgets. >> from a gadget they are used to using. what's the coolest thing we might see in five to ten years. >> from our perspective you can have your fridge know what's inside, suggest recipes based on what you have -- >> i like that. >> and maybe things that will go bad. with one button order what you don't have and you will have decided what to eat, what you need in an oven that knows what
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it is and how to cook it. >> that's like "the jetsons". >> it frees you from the parts of cooking you don't like so you can make a delicious meal. >> thank you both for being here. >> great to be here. >> good to see you. >> this is a look at what's making news. hold your breath. the federal reserve met this week and did nothing. >> the janet yellen led fed said the labor market is slow. they lowered the possibility of future hikes. also the possible british exit from the european union. in the meantime stocks broke a five-day losing streak on thursday rebounding from a big loss earlier in the day. the nasdaq and s&p 500 followed suit. stocks fell on friday. shanghai disney opened up for business. the $5.5 billion resort is
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disney's sixth part. more than 330 million people live within three hours of the trip. a few seconds ago we mentioned the potential british exit from the european union. what is it and why should you care? willfred frost explains. >> the first incarnation of the european union rose after world war ii, the goal for economic cooperation. it grew over the years and became known as the european union in 1993 which introduced the idea of european citizenship. today there are 28 members. in 2002 the euro was introduced. britain maintains its own currency, the pound and its own monetary policy. a growing number of uk citizens want to leave the eu due to concerns over immigration, loss of sovereignty and the effect of
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eu bureaucracy on business. a vote on whether to leave or stay takes place june 23. prime minister david cameron is the most prominent member of the stay camp. >> i believe britain will be stronger, safer and better off in a reformed european union. >> while former london mayor boris johnson lead it is exit camp. >> over time the uk economy would get dynamism from the removal of so much of the regulation and the inappropriate law that holds us back. >> again, that vote takes place on thursday. up next, we are "on the money." this hand of the future is here now. see how technology is helping wounded veterans gain more independence. later it's no secret dads love giving advice to kids. when it comes to money does father know best? we'll talk about that. now as we head to break look at how the stock market ended the week.
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sometimes modern medicine makes such incredible advances it can be hard to separate fact from fiction. a new understanding of how our bodies is wired is translating to major advancements in prosthetics. hi, meg. >> as we learn more about the brain and our central nervous system scientists are helping soldiers returning from war and people struck by paralyzing disease. we visited darpa of the department of defense to learn more. fred downs was in vietnam
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and a land mine took his arm. >> i stepped on a bouncing betty land mine, lost this arm, almost lost this arm and almost lost my legs. >> reporter: his options were limited. >> the army fit me with what i call a hook which is a plastic arm that was the only thing available in those days. >> reporter: he wore it for 47 years. then in 2009 he was given a chance to use this. >> here is my power grip. >> reporter: the deka arm is funded by the defense advance research products agency or darpa of the department of defense. downs uses sensors on his shoes to control the arm and says the technology is a huge improvement from his old prosthetic. >> for the first time in 40-some years i can use my left hand to grasp things. >> reporter: part of technology that's helping change the way we
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think about what prosthetics can be. >> let me show you something cool. >> reporter: dr. justin sanchez is project manager for darpa's biological technology officers. he works with researchers testing new types of prosthetics doing things that a few years ago may have seemed like science fiction. >> reporter: the next generation connects to the brain and allows users to feel pressure. >> we can do light and harder touches and the person can distinguish between the light and harder touch. >> reporter: patients like jan sherman are showing how promising the technology can be. sherman was diagnosed with a severe neurodegenerative disorder that kept from her using arms and legs. she underwent surgery to have sensors in her brain to control a prosthetic arm. after training she showed she could control the arm by just
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thinking about moving it, feeding herself for the first time in a decade. >> the ability to take care of yourself is crucial. coming your hair, brushing your teeth, getting dressed. those are what you need as a human being to have your dignity. have dignity. >> much of the work is supported by obama's brain initiative. some of the projects are still in the earliest stages of development but the hope is they could transform options for both soldiers and people facing debilitating diseases. >> it is amazing to see fred able to maneuver his hand that quickly. what's the learning curve? you tried it, too. how tough is it to use? >> fred controls it with his feet. he does a complicated tap dance for different grips. he's been practicing for years. it's something to learn every oh time. what jan sherman did was connected to her brain.
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i talked with researchers and they said it's something people are able to do pretty quickly once they are hooked up. it's only been tested in a tiny number of people. they hope to shrink the technology so it could be on a wheelchair, something people wear in their lives. >> you did it, too. >> i put on a glove. it was period. it was mirroring my movements. i was worried when doing the high five i would smack myself in the face wu i learned it. >> thank you, meg. inspiring stuff. >> thanks. >> up next we are "on the money." dads your kids might have a better idea of what to do with their money than you are doing with yours. later, want to keep your pet safe, happy and healthy? we'll show you products that will do the trick. ♪ you're not gonna watch it! ♪
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♪ no, you're not gonna watch it! ♪ ♪ we can't let you download on the goooooo! ♪ ♪ you'll just have to miss it!
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♪ yeah, you'll just have to miss it! ♪ ♪ we can't let you download... uh, no thanks. i have x1 from xfinity so... don't fall for directv. xfinity lets you download your shows from anywhere. i used to like that song. dads are always full of words of wisdom. when it comes to money, should you listen? a new fidelity survey showed interesting results. joining us now with the details is senior personal finance correspondent sharon epperson. you would think dads know best after decades of dealing with unmany and issues. what did you monday out? >> dads know best most of the time but not all the time. they can learn something from their millennial children in some cases when it comes to money.
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one thing dads do well is save. they have done this, boomer men, because they have built discipline over time. for some because of the financial crisis and issues they faced in not having enough in savings they are trying to ramp it up. the savings rate according to if i dill ti for dads is 11%, far greater than millennials but millennials saving 7 or 8% is huge. they're starting early. >> and they don't have the payments. >> they are listening to dad. that's a good one. >> where are the areas that the boomer dads could listen to the kids? >> daughters do a far better job than sons and then dads in terms of talking to people about where or how they are investing. >> experts? >> talking to experts, family members and the issue is you have to be careful who you talk to. it's great young women are talking about money. make sure the folks you are talking to have good financial
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habits. in some cases that may not be your parent. that might be a financial adviser or someone else. depending on how they manage their money through hard times. >> what about sons? if daughters are out there and actively talking to people about what they should be doing with finance, where do the sons come in? >> the lessons from sons is to invest your money. don't be afraid to invest. sons are investing at a higher rate than dads. then daughters as well. older women and younger women are more conservative with their money. a lot of women, studies have shown, put their money in cash if they have a lump sum before they put it in the markets. >> which is bad news if you have decades to save and lots of time and hopefully you can get more for your money over the long run with the stock market than with cash. >> take risk with your money to have larger returns over the long run. the good news is you are saving already that you have the money you could possibly invest. that's great.
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watch what dad is doing as well. you may learn something. >> sharon, thank you. >> sure. >> up next, a look at the news for the week ahead. we are headed into the dog days of summer. we have expert advice on how you can keep your pooch safe and cool for the hot days ahead.
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you get use to pet odors in your car. you think it smells fine, but your passengers smell this. {ding} eliminate odors you've gone nose blind too, for up to 30 days with the febreze car vent clip. wow, it smells good in here. so you and your passengers can breathe happy. for more on the show and guests go our website and follow us on twitter @onthemoney. here are stories that may impact
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your money this week. monday you will have time to enjoy the sunshine. it is the summer solstice, the longest day of the year. also tribune publishing which owns the los angeles times and chicago tribune will be changing the name to tronc, tribune online content. janet yellen begins two days of testimony tuesday before congress. wednesday we'll get existing home sales numbers for may and on thursday, citizens of the uk will vote on whether or not they want to leave the eu. we know it's important to stay hydrated and cool in the summer. that can be difficult when you are wearing a fur coat. so what do you do to keep fido cool during the dog days of summer? joining us now veterinarian katie nelson. thank you very much for being here. >> and this is the under bite.
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>> thanks for bringing him on. >> this is a cooling vest with little gel packs inside. you can just freeze these or freeze the whole vest and put it on your pet to keep them cold. >> it's not too cold? >> or put it in the fridge if you have a thin haired dog. this is a collapsible bowl with the same gel pack in there that you can freeze to keep their water cool. other things to keep them safe in the summer time, check into pet health insurance. it is a huge thing. >> i always wonder about it. is it worth it? >> it is. so many americans don't have it. less than 6% of dog owners have it. less than 3% of cat owners have it. everybody thinks it will be super expensive. it's from $13 a month to $40 a month depending on the type of policy. >> will it cover what you need? i have had people say they love it. others say i wasn't able to go to the vet i wanted to use. >> i have never experienced not being able to go to the
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veterinarian thing. it's not like human health insurance where the vet files the claim. you file it. you go, pay and get reimbursed. most of the pineapptime it's ab to 90% reimbursed. >> what about other things? >> make sure they have a micro chip. it's implanted under the skin. any time they are found that they go go into a vet or a shelter and they will take this scanner, run it over the back of the pet and it tells you that they have a micro chip. >> perfect time for the kids to get ice cream. can the dogs have it as well? >> it has way too much sugar. one healthy and simple thing, grab a banana and peanut butter -- not the sugar free ki kind. that can have xylitol. mash up the banana and put it in
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here with coconut oil. you have a healthy treat for pets with omega fat si acids a and it's yummy. >> do you want a snack? >> want to try the peanut butter? oh, yeah. that's a winner. it's a winner. >> dr. katy, thank you very much. appreciate it. >> thank you. >> eddie, thank you, too. >> i'm becky quick. next week, what to do if you are ready to stop working but the economy and your retirement cash has other ideas. we're on the money. see you next weekend. put some distance between you and temptation
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hey there. we are life at the nasdaq market site. the guys are getting ready. here's what's coming up. >> all right. it's getting crowded in here. >> that's what some traders are saying about the so-called safest trades in the market. it could spell trouble for stocks. plus it is the question every trader is grappling with. >> to be or not to be, that is the question. >> no. do you buy gold or silver? the charts say one is about to surge even higher. and -- >> honestly, we're out of gas. >> pretty much sums up the transpor transports. it could get worse. the action begins now. ♪

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