Two risks that could surprise the market in the second half

While Wall Street focuses on U.S.-China trade war dangers, Medley Global Advisors’ Ben Emons sees two risks making a comeback.

The way the world’s affairs are shaping up, he warns Brexit fallout and the threat of U.S. tariffs on European cars could sneak up on investors in year’s second half — which kicks off Monday.

According to Emons, there’s an increasing chance a no-deal Brexit could damage global markets.

“That’s still ongoing with the changes in leadership in the UK,” the firm’s global macro strategy managing director told CNBC’s “Futures Now ” last Thursday.

Emons’ other glaring risk is possible car tariffs. In May, the Trump administration delayed a final decision by up to six months on whether to place tariffs on automobile and auto parts.

“You have the administration negotiating with Europe, and that’s the next thing we’ll have to look at after this G-20,” he said. “It’s a big market for European cars. That could really impact Europe in particular, and I would like to mention the U.S. likely, too.”

With Treasury yields at record lows in Europe, Emons believes another batch of tariffs would add to volatility and act as a catalyst for more central bank easing measures.

Meanwhile, the trade war between Washington and Beijing is already pushing rate cuts around the globe. He expects the Federal Reserve to join them by trimming interest rates in July to address softening consumer spending and the growth slowdowns tied to trade.

“Our base case is more for a 25 basis point cut,” Emons said.

Dow futures surge more than 260 points after Trump and Xi agree to not impose more tariffs

U.S. President Donald Trump poses for a photo with China’s President Xi Jinping before their bilateral meeting during the G20 leaders summit in Osaka, Japan, June 29, 2019.

Kevin Lamarque | Reuters

U.S. stock futures surged on Sunday night after the U.S. and China agreed to hold off on slapping additional tariffs on their products in an effort to resume trade talks.

Dow Jones Industrial Average futures traded 265 points higher, implying a gain of 260 points at Monday’s open. S&P 500 and Nasdaq 100 futures also rose sharply, implying gains of 1% and 1.6%, respectively. 

President Donald Trump and Chinese President Xi Jinping agreed not to impose new levies on U.S. and Chinese goods after meeting on the sidelines of the G-20 summit in Osaka, Japan on Saturday.

Trump said the meeting went as well as it could have, noting: “We are right back on track.” Chinese state-run news outlet Xinhua said the two leaders agreed to “to restart trade consultations between their countries on the basis of equality and mutual respect.”

Trump added the U.S. will ease restrictions on American companies from selling products to Huawei, a giant telecommunications company from China. The U.S. barred companies from selling to Huawei in May, citing national security concerns. The U.S. president also said China would “buy farm product.”

Reversing the Huawei ban could boost chipmaker shares like Skyworks Solutions, Qorvo and Micron Technology, all of which have revenue exposure to Huawei. Skyworks and Micron were both down at least 10% for 2019 through Friday’s close. Qorvo was down 16.9% year to date.

Investors anxiously awaited the meeting between Trump and Xi as they looked for clues on whether the world’s largest economies would resume trade negotiations or if the conflict would be prolonged.

Chetan Ahya, global head of economics at Morgan Stanley, described the meeting’s outcome as “an uncertain pause.”

There is “no immediate escalation, but still no clear path towards a comprehensive deal,” Ahya said in a note Sunday. “As things stand, we lack clarity on whether real progress was achieved on the sticking points that caused talks to break down in the first place. Hence, our overarching conclusion is that the developments over the weekend on their own don’t do enough to remove the uncertainty created by trade tensions.”

Comments from Larry Kudlow, director of the National Economic Council, added to the uncertainty around U.S.-China trade relations.

Kudlow told Fox News on Sunday that Trump was not granting Huawei “general amnesty. ” He also said there is no timetable for when a deal might be finalized.

China and the U.S. have been embroiled in a trade war for more than a year. In that time, the U.S. has slapped tariffs on more than $250 billion worth of Chinese imports. China has retaliated with levies of its own on U.S. products.

—CNBC’s Michael Bloom contributed to this report.

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How to find a new career after age 65 if you are a woman

Shirley Yearwood, 65, retired from a career at the IRS in 2016. “I see so many people in my age group not living life to the fullest. I did not want that to be me,” she says. Yearwood has a coaching business for people in her age group on health, wellness and travel.

Dale Burgess | Dalbu Photography

After running her own public relations firm for years, Judy Katz was looking for a change when she turned 65. She started a brand-new business as a ghostwriter of books, and now, at age 78, is still going strong, with no plans to retire. “If I can stay healthy and keep my memory sharp, then I don’t see any reason,” says the New York City resident.

Katz is part of a small but growing group of women who have started businesses at age 65 and up at a time when many of their peers are easing into retirement.

It’s not a massive trend. The most recent Global Entrepreneurship Monitor, a sweeping study of entrepreneurs produced by Babson College, found in its recent 2017/18 United States Report that 3% of women ages 65 and up are involved in early stage entrepreneurship — starting a business or running one that is less than 42 months old. That is up from 2.3% in 2016 and 2.7% in 2017. And it is outpacing the general population: Total entrepreneurial activity was 2.1% in 2017.

While the number of 65-and-over female new business owners is still small, their participation in entrepreneurship is noteworthy because most working women are retired by then. Only 15.5% of women this age are still in the workforce, says Donna Kelley, a professor of entrepreneurship at Babson College.

Don’t let age limit you

It could be a harbinger of things to come. About 10,000 baby boomers are turning 65 every day, many still full of energy and interested in staying active in their careers. “If you retire at 65 and are going to live til 90, especially women, they want to go out and be productive and do things and not be bored,” Kelley said.

Shirley Yearwood, 65, is a case in point. She retired from a career at the IRS in 2016 and spent two years as the primary caregiver for her 97-year-old mother. With her mother now living in a nursing home, Yearwood yearned to do something more.

“I see so many people in my age group not living life to the fullest,” says Yearwood. “I did not want that to be me.”

If you retire at 65 and are going to live til 90, especially women, they want to go out and be productive and do things and not be bored.

Donna Kelley

professor of entrepreneurship at Babson College

Yearwood, based in Snellville, Georgia, tapped into her personal experience as a breast cancer survivor and recently started a business as a coach to people in her age group on health, wellness and travel. During her recovery from cancer, she pushed herself to embrace new activities, such as weight training, and realized how important it was for people in her age to overcome the intimidation factor and try new things.

“My tagline is, ‘Don’t let age limit you,'” Yearwood said.

Yearwood is currently taking an online class in Facebook marketing to learn the ropes of promoting her services. “It is a little scary,” she said. “I’m not astute on social media, but I’m getting there.”

Laid off from her job as an escrow assistant at a title insurance company in 2013, Linda Clay, then 63, couldn’t find another job. So she became a business owner.

Megan Peirona | Megan Peirona Photography

Some women who start businesses in their mid-sixties and beyond are looking to get into a new line of work that doesn’t come with the pressure of an earlier career, according to Babson’s Kelley. “They get to the point in their lives where they ask, ‘Why should I pile all of this stress onto myself?'”

One thing that’s made it easier for them to take the plunge is the growth of gig economy platforms, such as the crafts marketplace Etsy, where they can connect with clients, Kelley has found. “It reduces the entry requirements and makes it easy for people,” she said.

For some women, there’s another reason to start businesses in their sixties: necessity. “Not everyone has a healthy retirement fund,” Kelley said.

Age discrimination makes it hard for many older Americans, among them women, to keep working in traditional jobs, even when they need the income.

“Many people want or need to be making money into their sixties, but it’s not easy to find work,” Kelley said.

Laid off from her job as an escrow assistant at a title insurance company in 2013, Linda Clay, then 63, couldn’t find another job. “No one wanted to hire baby boomers,” says Clay.

She set herself up as a self-employed virtual assistant, doing freelance administrative work for remote clients, but realized that was not her true calling.

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Gradually, she eased her way into starting another business from her home in Seattle. She provides business and lifestyle coaching to women leaving the corporate world, tapping into her previous work experience managing stores for retailers such as Barnes & Noble.

“In my work, I help them gain confidence to really go after what they want to do and not what society has told them to do,” Clay, now 68, said. “I love putting the pieces of the puzzle back together in their lives and helping them find the business or job they want.”

Clay is now building a paid Facebook community for women ages 40 and up and is a speaker for the Women of Impact conference. “I think the possibilities are endless,” she says.

For more on tech, transformation and the future of work, join CNBC at @ Work: Human Capital + Finance Summit in Chicago on July 16.

Endgame’ still short of ‘Avatar’ box office record

Avengers Endgame

Source: Marvel Studios.

Despite a big push from Disney this weekend, “Avengers: Endgame” remains $26 million shy of the record for highest-grossing film of all time.

On Friday Marvel Studios began showing a new theatrical release of the film with a special tribute, a deleted scene and a teaser for “Spider-Man: Far From Home” at the end of the credits. While the company was able to garner an estimated $5.5 million this weekend in the U.S. and another $2.3 million abroad, it wasn’t enough to surpassed the record $2.78 billion that “Avatar ” has earned since its release in 2009.

“Endgame,” which was originally released April 26, has earned around $2.76 billion globally so far.

This is an “impressive feat given that the film, now in its tenth weekend, has already been seen by just about everyone on the planet,” Paul Dergarabedian, senior media analyst at Comscore, said.

The additional content seemed like an enticing lure for fans, however it seems the six minutes of footage wasn’t enough to bring them back with the same fervor as opening weekend.

Some fans on social media said that the extra footage wasn’t a big enough addition for them to spend money on a ticket or sit through the three hour long film again. Many said they would wait for the movie to be released on DVD and BluRay to see the deleted scene as well as the other bonus content.

Had deleted content been finished and inserted into the film as a directors’ cut or extended cut, more fans may have ventured to the theater this weekend.

Still, there were plenty of fans who were more than happy to revisit the film again more than two months after its debut.

To be sure, “Endgame” isn’t done just yet. It still has a chance to surpass “Avatar.” The film will continue to run in theaters for most, if not all of the summer. After all, “Avatar” ran for 234 days during its first run (the film got a rerelease in 2010). “Endgame” has been in theaters for less than 70 days.

Of course, “Endgame” still has a number of hurdles to face on its way to the top spot. The summer box office is very competitive, with new releases every weekend. Not to mention, “Endgame” has a lot of emotional — some would argue gut-wrenching — moments that could make repeat viewings difficult even for the biggest of fans. And then there is that three hour run time.

Bond ETFs are seeing huge inflows—but we’re not at the peak yet

This year, the word on bonds is “buy.”

Investors have flocked to bond-based exchange-traded funds in droves since the end of 2018, according to Morningstar, with the popular iShares 20+ Year Treasury Bond ETF, ticker TLT, seeing $4.8 billion in net new money year to date.

Compounding this, taxable corporate and government bonds saw an 11.5% increase in flows in the first half of 2019, with municipal bonds not far behind at a 9% gain. U.S. equity ETFs lagged these gains dramatically, seeing inflows rise just 3%.

“We’re seeing a flight to quality,” CFRA’s Todd Rosenbluth said Friday on CNBC’s “ETF Edge.” “So, investors have pushed down yields, and as a result, they’re using ETFs to be able to take on additional risk.”

But the inflow drop-off in U.S. stock-based funds doesn’t mean the ETF frenzy is over, or that we’re at “peak ETF,” said Rosenbluth, who is CFRA’s senior director of ETF and mutual fund research.

“We think we’re going to see further adoption,” he said, noting that some broad-based stock ETFs including iShares’ Core S&P 500 ETF, ticker IVV, and Vanguard’s S&P 500 ETF, ticker VOO, have actually seen notable gains.

Ben Johnson, director of global ETF research at Morningstar, agreed that his firm’s data wasn’t spelling doom for the ETF industry.

“Investors’ risk appetites have certainly improved relative to where they stood in the back half of last year, and you see that in the way that they’ve fanned out further on the yield curve,” he said in the same “ETF Edge” interview. “If you look at where we’re at in the equity markets, the fact that we are in the midst of what’s been the best June in decades, well, ETFs in the equity space were sluggish out of the gate, certainly through the first five months of the year.”

But that’s not deterring investors just yet, even as the long-term Treasury-based TLT is still the top-ranking ETF on a year-to-date basis, Johnson said.

“What we’ve seen thus far in June is a noticeable uptick into ETFs covering U.S. equities, notably a pair of big S&P-500-tracking ETFs in IVV and VOO,” he said.

Stocks saw modest gains on Friday as Wall Street’s best first half in 20 years came to a close. Bond yields also rose ahead of this weekend’s G-20 summit, where many expect developments in the U.S.-China trade dispute as President Donald Trump meets with Chinese President Xi Jinping.


Telemedicine apps like American Well are thriving because of moms

MoMo Productions | Getty Images

When Laika Kayani started to lose her voice late one night last year, she picked up her iPhone and got connected to a doctor through a video-chat service called American Well.

Kayani, who works at a health-tech company in San Francisco, used the app because her young son and husband were asleep and there were no clinics open at that late hour. It was a fast and efficient way for her to get some answers and peace of mind.

Telemedicine, as this burgeoning practice is known, is gaining particular traction with working mothers like Kayani, who are juggling child care with a full-time job and struggle to find time to go to the doctor unless it’s truly an emergency.

“If there’s a convenient option that I don’t need to spend extra on, I’m open to exploring it,” Kayani said. Many such services are covered by employers or health plans.

CNBC spoke with executives at American Well as well as telemedicine providers Teladoc, MDLIVE and Doctor on Demand. They all said they rely heavily on mothers to use the service and to spread the word. According to Global Market Insights, the U.S. telemedicine market is poised to top $64 billion by 2025. Recognizing that women are their key demographic, the providers are targeting their marketing dollars in that direction.

Teladoc, which went public in 2015, credits much of its success to courting moms through Facebook and other online forums. Mothers over age 25 now represent about 45% of all of their general medicine and behavioral health visits, according to CEO Jason Gorevic.

“Moms are the chief medical officers of the family,” Gorevic said. “Telemedicine allows them to get the care they need without taking hours out of their day.”

A study from the Kaiser Family Foundation from 2017 found that mothers make 79% of the decisions when it comes to selecting their kids’ doctors and take them to 77% of appointments.

Roy Schoenberg, CEO of American Well, said mothers are driving the majority of virtual visits for things like bladder infections, strep throat and other acute infections. More than 60 percent of its users are women, and more than half are between ages 25 and 44.

In some cases, telemedicine companies will send patients to the doctor if they can’t diagnose them virtually, although there are some at-home tests for things like strep throat. Patients will often send photos of their rashes and other ailments that can help with a diagnosis.

Schoenberg said American Well sees a lot of patients during the cold and flu season when many parents would prefer to avoid exposing their kids to other sick children at the doctor’s office.

“Seasonality is our bread and butter,” he said.

Doctor on Demand CEO Hill Ferguson said 65% of its app’s users are female. About half of the company’s total patients are between the ages of 25 and 45. And roughly two-thirds of the physicians on staff are women, so they can understand with what their patients are facing.

“We know that moms are our advocates, and a really important demographic,” Ferguson said. “They are in the best position to influence behavior.”

WATCH: Apple pushes further into health care by selling this diabetes product

Huawei has not received a general amnesty from Trump

Larry Kudlow, director of the U.S. National Economic Council.

Andrew Harrer | Bloomberg | Getty Images

White House economic advisor Larry Kudlow responded Sunday to criticism of President Donald Trump’s controversial decision to allow Chinese telecom giant Huawei to buy US products, part of a truce Trump struck with Chinese President Xi Jinping at the G-20 summit in Japan over the weekend to ease trade war tensions. 

Kudlow said the administration has not removed Huawei from the blacklist that largely blocks the company from buying American products. Instead, the Commerce Department will simply grant more licenses to allow U.S. companies to sell products to Huawei so long as those sales pose no threat to national security, Kudlow said.

“This is not a general amnesty, if you will,” Kudlow said in an interview with Fox News Sunday. “Huawei will remain on the so-called entity list where there are serious export controls and in national security inferences or suggestions there won’t be any licenses.” 

Trump said he made the decision to allow Huawei to buy US products at the request of American “high tech companies.” The president said his administration will meet to more fully discuss the plan. 

“One of the things I will allow, however, is — a lot of people are surprised we send and we sell to Huawei a tremendous amount of product that goes into a lot of the various things that they make — and I said that that’s OK, that we will keep selling that product,” Trump said at the G-20 summit. 

The Semiconductor Industry Association — which says it represents 95% of the U.S. semiconductor industry including chip companies like Broadcom, Qualcomm and Intel among others — reacted positively to Trump’s truce with Xi in the trade war, but said it wanted more details about the plan regarding Huawei

“We are encouraged the talks are restarting and additional tariffs are on hold and we look forward to getting more detail on the president’s remarks on Huawei,” said John Neuffer, president and CEO of the organization. 

Trump’s decision to blacklist Huawei reportedly forced semiconductor companies to cut ties with the Chinese telecom and caused a sell-off in chip stocks. All but one component of VanEck Vectors Semiconductor ETF were at correction levels or worse and nearly half of the 25 stocks were at bear market levels the week after the blacklist was announced. 

The ETF recovered and is now up more than 10% over the past month on various indications that the Trump administration would scale back some of the restrictions on Huawei. 

The blacklist has hurt Huawei. The company announced that it was scrapping a new laptop due to the restrictions.

Trump declared a national emergency over threats to U.S. technology on May 15, and the Commerce Department subsequently added Huawei to a blacklist, which blocks U.S. companies from selling or transferring technology to Huawei unless they are granted a special license. 

Washington is also seeking the extradition of Huawei CFO Meng Wanzhuo from Canada on charges of bank and wire fraud related to allegations that the company skirted U.S. sanctions against Iran. Meng is the daughter of Huawei’s founder and CEO. 

The U.S. has accused Huawei of essentially being an arm of Chinese intelligence. 

Trump met with North Korea’s Kim Jong Un in the Demilitarized Zone — here are the photos

U.S. President Donald Trump meets with North Korean leader Kim Jong Un at the demilitarized zone separating the two Koreas, in Panmunjom, South Korea, June 30, 2019.

Kevin Lamarque | Reuters

The Demilitarized Zone, where President Donald Trump met North Korean leader Kim Jong Un on Sunday, may be the most heavily fortified strip of land in the world and serves as an uneasy and occasionally bloody borderline between the two Koreas.

There isn’t much demilitarized about it: A minefield laced with barbed wire, it’s guarded by combat-ready troops on both sides and has been the site of numerous, sometimes deadly gunbattles and skirmishes. U.S. presidents and other top officials have often traveled to the DMZ to reaffirm their commitment to the defense of ally South Korea in times of hostility with North Korea.

The venue of the third Trump-Kim meeting was the Korean border village of Panmunjom, located inside the DMZ. Trump became the first sitting U.S. president to set foot in North Korea when he crossed over the military demarcation line in the village into the North before he turned back to the southern side together with Kim for their third summit.

North Korean leader Kim Jong Un and U.S. President Donald Trump inside the demilitarized zone (DMZ) separating the South and North Korea on June 30, 2019 in Panmunjom, South Korea.

Handout | Getty Images News | Getty Images

The DMZ, which runs across the Korean Peninsula, is 248 kilometers (154 miles) long and 4 kilometers (2.5 miles) wide. Created as a buffer at the close of the 1950-53 Korean War, it’s jointly overseen by the American-led U.N. Command and North Korea.

Hundreds of thousands of North and South Korean troops are now deployed along the DMZ, which is littered with an estimated 2 million mines, tank traps, razor wire fences and guard posts.

It’s extremely rare for anyone to cross the DMZ in unauthorized areas. More than 30,000 North Koreans have escaped to South Korea for political and economic reasons since the war’s end, but mostly via the North’s long, porous border with China.

U.S. President Donald Trump and North Korean leader Kim Jong-un briefly met at the Korean demilitarized zone (DMZ) on Sunday, with an intention to revitalize stalled nuclear talks and demonstrate the friendship between both countries.

Handout | Getty Images News | Getty Images

Violence was more common in the Cold War, but a 2015 land mine blast blamed on North Korea maimed two South Korean soldiers and pushed the rival Koreas to the brink of an armed conflict.

As relations improved last year, the two Koreas agreed on several deals aimed at reducing animosity at the border. They removed mines from certain areas, dismantled some of their guard posts and halted front-line live-fire exercises. Experts say tensions can easily return if diplomacy eventually fails to end the North Korean nuclear stalemate.


Panmunjom has been the venue for past high-level talks. It’s somewhat safer than other areas, and it is just an hour’s drive from Seoul, South Korea’s capital. Most past DMZ visits by U.S. presidents and other officials happened at Panmunjom and nearby areas.

Sunday’s summit between Trump and Kim took place in a building in the southern part of Panmunjom. Before the meeting, Trump and Kim shook hands and posed for photos several times as they stepped across the concrete slabs that form the village’s borderline.

U.S. President Donald Trump meets with North Korean leader Kim Jong Un at the demilitarized zone separating the two Koreas, in Panmunjom, South Korea, June 30, 2019.

Kevin Lamarque | Reuters

Last year, Kim came to the village’s southern side when he held a summit with South Korean President Moon Jae-in, becoming the first North Korean leader to set foot in the South.

North and South Korean troops stand only several meters (yards) away from each other there. They once carried pistols, but since last year’s deals they aren’t armed.

Panmunjom is also where an armistice was signed to stop the Korean War. That armistice has yet to be replaced with a peace treaty, leaving the Korean Peninsula in a technical state of war. About 28,500 American troops are still stationed in South Korea.

Panmunjom is 52 kilometers (32 miles) north of Seoul and 147 kilometers (91 miles) south of Pyongyang, North Korea’s capital.

Since the armistice, more than 830 rounds of talks have been held in various Panmunjom conference rooms.

U.S. President Donald Trump meets with North Korean leader Kim Jong Un at the demilitarized zone separating the two Koreas, in Panmunjom, South Korea, June 30, 2019.

Kevin Lamarque | Reuters

The most notorious incident at Panmunjom happened in 1976, when ax-wielding North Korean soldiers killed two U.S. officers sent out to trim a tree that obstructed the view from a checkpoint. Washington sent nuclear-capable bombers toward the DMZ in response. Animosities eased after North Korea’s then-leader, Kim Il Sung, the grandfather of Kim Jong Un, expressed regret over the incident.

In 2017, North Korean soldiers sprayed bullets at a colleague who was making a dash for the border. He survived and now lives in South Korea.

Past presidential visits

In 1993, President Bill Clinton visited Panmunjom when the North Korean nuclear crisis first flared. In 2002, President George W. Bush visited the DMZ a few weeks after he labeled North Korea part of an “axis of evil.”

In March 2012, Kim Jong Un came down to Panmunjom and met front-line North Korean troops in his first known visit to the area since taking power in late 2011. He gave the troops rifles and machine guns as souvenirs and ordered them to maintain “maximum alertness,” according to North Korean state media.

U.S. President Donald Trump and South Korean President Moon Jae-in visit the demilitarized zone separating the two Koreas, in Panmunjom, South Korea, June 30, 2019.

Kevin Lamarque | Reuters

Days after Kim’s Panmunjom trip and ahead of a planned North Korean long-range rocket launch, President Barack Obama visited a front-line U.S. military camp just south of the DMZ and told American troops they are protectors of “freedom’s frontier.”

In November 2017, Trump planned to visit the DMZ with Moon to underscore his stance on North Korea’s nuclear program, but his plans were thwarted by heavy fog that prevented his helicopter from landing at the borde

How to set up a new iPhone and transfer old files

Store shop assistants as Apple launches iPhone XS, iPhone XS Max, and iPhone XR sales in Russia.

Anton Novoderezhkin | TASS | Getty Images

If you haven’t upgraded your iPhone for a few years, you might be surprised to see how much easier it is to move all of your data from an old device to a new one.

Years ago, you had to connect your iPhone to iTunes to download a backup. Then Apple made it a bit easier by saving backups in the cloud, but it still took a long time to restore your phone. Then, two years ago, Apple introduced a feature called Quick Start that can help get a new iPhone up and running in just a few minutes, all while your data continues to restore in the background.

I take this for granted. I test lots of new Apple products, so I’ve long known about the Quick Start feature. But a few people I’ve spoken with hadn’t heard about it, since many people typically upgrade phones once every three years or so. I’ve also found that the restore process, which used to take forever, is much faster than it used to be. You should be back up and running within minutes instead of hours.

Here’s how to use Quick Start to get a new iPhone, iPad or iPod up and running quickly.

Turn on your new phone. You’ll see a screen that says “Quick Start.” Stop here.

Keep your new iPhone on this Quick Start screen.

Todd Haselton | CNBC

Now turn on your old phone and bring it near the new one.Your old phone will show a pop up that says “Set Up New iPhone.” Tap it.

Keep your old iPhone and your new iPhone close to one another.

Todd Haselton | CNBC

Now your new phone will look like this:

You’ll place your old iPhone over this.

Todd Haselton | CNBC

And your old phone will look like this:

Hold one phone over the other. This picture is blurry because I snapped a picture in the split second before it began working.

Todd Haselton | CNBC

Align the old phone with the new one so that the cloud of dots is recognized by your old phone. This is a verification method.

Aim your old iPhone at the cloud on your new iPhone.

Todd Haselton | CNBC

Now, on your new phone, enter the passcode of your old phone.

Enter in your old iPhone’s passcode.

Todd Haselton | CNBC

Connect to a Wi-Fi network and tap next.

Choose a Wi-Fi network.

Todd Haselton | CNBC

That’s it

That’s it. Now, you’ll follow a bunch of the regular steps to set up your new phone like accepting Apple’s data policy, setting up Face ID and restoring your personal data and purchased apps from a backup file. But you won’t need to log in to your Apple account, since your phone got that during the Quick Start process.

Endgame 6 minutes of footage contains tribute, deleted scene

On Friday, Disney made one final push to make “Avengers: Endgame” the highest-grossing film of all time.

Marvel Studios began showing a new theatrical release of the film with a special tribute, a deleted scene and a teaser for “Spider-Man: Far From Home” at the end of the credits.

This additional content is an enticing lure for fans of the franchise who were already waiting for the DVD release to see scenes that didn’t make it into the film and other behind-the-scenes content.

Putting some of that footage into a rerelease will likely draw thousands back to theaters and could push “Endgame” above and beyond the record $2.78 billion currently held by “Avatar.”

“Endgame,” which was originally released April 26, has earned around $2.74 billion globally so far.

Not to mention, this weekend provides a good opportunity for ticket sales as there are no major competitors debuting. Smaller budget films “Yesterday” and “Annabelle Comes Home” will get their releases, but neither are categorized in the same genre as “Endgame” and likely won’t compete for ticket sales.

Here’s what audiences can expect from the post-credit footage:

* Spoilers for “Avengers: Endgame” to follow *

A tribute to Stan Lee

When the credits finally roll, the first new clip fans are treated to is a short tribute to the late Stan Lee.

Lee was the iconic writer and producer behind many of Marvel’s most popular characters. He has been a staple in Marvel films since the beginning, showing up in small cameo roles in nearly every feature from “Iron Man” onward.

“Not only did I not think I would be doing a cameo in such a big movie, I hadn’t dreamt there’d be such a big movie,” Lee says in a voiceover. “In those days, I was writing those books, I was hoping they’d sell so I wouldn’t lose my job and that I could keep paying the rent.”

The tribute shows behind-the-scenes clips of Lee filming several of his cameos as well as comments from several directors of Marvel films including Jon Favreau ( “Iron Man”) and James Gunn (“Guardians of the Galaxy”).

“I’ve remembered every cameo I’ve done since the first one,” Lee says in footage shot before his death in November. He was 95. “I think I’m a very lucky guy.”

What has the Hulk been up to?

Next up is a deleted scene from “Endgame.” The film already clocked in at over three hours, so the production team had to trim a few clips to make the run time lower.

“Thanks for sticking around,” co-director Anthony Russo says in a short clip before the deleted scene. “As you may have noticed we packed a lot into this movie. There are a lot of characters, a lot of action, a lot of emotion, and I think a lot of fun. But believe it or not we shot some scenes that we needed to cut out; I know, the movie could have been even longer.”

The scene is unfinished and short. It depicts the Hulk saving several people from a building fire using a satellite dish to carry them to safety. He then receives a phone call, which he picks up on what appears to be an iPad.

“Steve who?” Bruce Banner asks, now transformed into what has been called “Professor Hulk,” a melding of Banner and Hulk into an intelligent and massively strong being.

The Hulk is not fully rendered in this scene. His mouth doesn’t even move when he speaks his lines. But it shows that he was still out in the world helping innocent people in times of trouble after “the snap.”

It is suggested that this is the phone call that leads to Banner meeting up with Captain America (Steve Rogers), Black Widow (Natasha Rominoff) and Ant-Man (Scott Lang) at a diner during the first part of “Endgame.”

Here comes Spider-Man

To promote the upcoming “Spider-Man: Far From Home,” Marvel has also inserted a short clip from the film during the post-credits.

It is the opening scene to the second standalone Spider-Man flick in this Marvel Cinematic Universe. It shows Nick Fury and Maria Hill arriving at a Mexican village that has been destroyed by some natural disaster. Or so it seems.

As the two S.H.I.E.L.D. agents walk through the rubble, they are greeted by Mysterio and a giant rock monster.

“You don’t want any part of this,” he says as he attacks the monster with his powers, green energy flying from his hands.