tv Bloomberg Markets Bloomberg March 17, 2016 1:00pm-2:01pm EDT
from bloomberg world headquarters in new york, good afternoon. i am scarlet fu. alix: and i am alix steel. bloomberg news has an exclusive interview with canadian prime minister justin trudeau. hear what he says about lower oil prices and stronger relations with the u.s. scarlet: just in time for st. patrick's day, copper turns green. is it fleeting? alix: as google given up on robots? it is contemplating selling boston dynamics. could amazon be a buyer? scarlet: we want to go to the markets desk, where julie hyman is. the dow is now in green for the year. julie: erin go bragh, i guess, for the markets today. stocks rising about to the highs of the session.
even the nasdaq is in the green. it was resisting for much of the day. the s&p 500 going above its 200-date moving average, the technical a full -- technical level many traders have been watching good the dow is gaining strength as the day continues. the dow is green for the year as well. if you look at the year-to-date chart for the dow jones industrial average. .2%, as we have had this run ever since a february 11. the s&p is .2% lower on the year. the nasdaq is up about 4.7% on the year. we have been watching oil strengthen once again today. 7.5%. what is notable is that it touched on both what he dollars a barrel for the first time this year. we have been watching oil for that reason. if you look at the total market
cap of the united states, even with today's games, and this is as of the close last night, it still looks like we have had a lot in total market cap this year thus far. and little bit of recovery there but not enough to put that number into the green. dallywhat helped lead the -- dow rally? julie: call it a dally. i like that. she coined a new phrase. ironically, caterpillar is one of the best-performing stocks on the year, because it came out and said that first quarter earnings were going to be below estimates. walmart has been doing well this year. verizon strengthening 6% this year today. doingdustrials have been well. general electric, boeing gaining strength, and procter & gamble strengthening on the day.
not really any individual fundamental news on a unit -- on any of these companies, just a general market list. scarlet: thank you so much, julie hyman, for the latest on the dally. alix: ah, you had to say it. let's get the latest news with mark crumpton. mark: secretary of state john kerry says he has determined that the islamic state has committed genocide. secretary kerry: the united states will strongly support efforts to analyze the evidence of atrocities and we will do all we can to see that the perpetrators are held accountable. mark: lawmakers and faith-based groups have pushed for the declaration. this is not the first time president obama has considered merrick garland for the supreme court. "usa today" reports he was on the list in 2010. that nomination went to justice elena kagan. at 63, garland is the oldest
nominee in years. some court watchers say that could be a strategic move by the president. the possibility of a shorter term may make him more acceptable. canadian prime minister justin trudeau says some of his country's provinces are tapped out due to spending on health care and other items. in an exclusive interview with bloomberg news editor in chief john mikel freight, prime minister trudeau says the answer is middle-class investment. p.m. trudeau: how do you improve growth rates? do you cut the economy or invest economy? we think you invest in the economy, put money in the pockets of the middle class, and ,reate opportunities to grow and that means through investment, that means we are in an approach that i'm confident we'll give us the better growth that will create more government revenue and get us through this phase. trudeau is minister set to deliver his budget on
tuesday, his first since ending stephen harper's nearly 10 years of conservative rule in last year's election. the global heatwave has pushed the earth into uncharted territory. according to u.s. government climate researchers, last month was the hottest february in 137 years of record-keeping. there was unprecedented heat in the arctic, 20 degrees fahrenheit above normal. layers of ice melted to record low levels. global news 24 hours a day powered by our 2400 journalists in more than 150 news bureaus around the world. i am mark crumpton. scarlet: thank you so much, mark. gold has been crushing it so far in 2016. the precious metal has been having is third-best year since the 1970's. alix: could goal to see even more upside ahead? and next guest think so. frank holmes is with us now. is quiteis chart
staggering. it points out the third-best year in gold since 1970. how much more juice do you think is left in the short-term? frank: the short-term it could easily consolidate because of the percentage move and it has to do with real interest rates and we saw a huge, compared to last year, real interest rates were much higher last year in the u.s. then this year. if you look at other countries in the world, like canada, gold is $1600 an ounce. australia, $1600 an ounce. some of these gold stocks are up 600%. that is where the big money is. the big money is in the gold stocks. they have wiped out a lot of their cost structure and now they're having the perfect storm for them. the price of oil falls, the currency falls, the price of gold rises. we are seeing harmony, for example, up over 100%. scarlet: talk about the linkage between negative interest rates and gold. we've seen the bank of japan
adopted these negative rates. how does this push more people, more investors into gold? frank: that is a great question, because gold is money. half of the demand is love and basically the demographics around the world and the culture . you go to middle east and asia. and then you have the fear trade, which is all about money. we take whatever they are going to offer you in a government bond and take away the cpi number. is it positive-negative? when gold hit 1900 it was -10% on the government bond and quietly in went to plus 2%. gold fell on the dollar rose. it is very significant because gold is the fourth most liquid asset in the world. alix: you can really see that play out in the etf market. we have seen a lot of money come in through the etf flows. on the flipside, the critics say that chinese and indian demand is just not strong enough to sustain a rally, which it's the onus on the western investors
and the etf investors, and that is a risk. what do you think? frank: it all depends with interest rates. that will be a key factor for the price of gold in u.s. dollar terms. that is the real key factor and i think we will see negative interest rates globally because we just signed up through a production numbers came out yesterday and they were -1%. that leaves a lot of people to say you are in a recession. scarlet: do you see increased demand for gold in places like japan come sweden, switzerland, countries -- alix: that have them? seeingyes, and you are banks buying gold. the real big part our these gold spots. they have been so aggressively shorted. yesterday in a half-hour we saw the gtx trade 23 million shares, like an incredible number, so everyone is looking to cover their short position.
i think these stocks have much more on the upside. alix: frank, good to see you. scarlet: coming up on "bloomberg markets," copper -- copper, got that out -- the rally has analysts scratching their heads. we will see if the metal has more room to go. alix: and our exclusive interview with canadian prime minister justin trudeau. scarlet: google may be offloading boston dynamics. ♪
we are seeing a generally a rally in the commodities today as we see the declining dollars, given the fed's dovish talk being read by many yesterday. we are single prices up nearly 3%, interestingly as we are seeing stocks going higher. risk on an risk off at the same time. gold year to date has had quite a run amidst turmoil in the markets as people have turned it to the precious metal as a hedge against that. up 19% year to date, an interesting run. as for copper we have watched that as well. it does not act in quite the same safety way but it is also , like manyr to date commodities, rather than the stock bottom, it bottomed more in january. i want to look at some of the miners and how they are doing, given the gains we are seeing in the metals. freeport-mcmoran copper and gold, one of the was volatile stocks we watch on a daily basis, southern copper and first
quantum minerals also on the rise today. we have seen some big gains here. if i can find my chart this morning that hillary made for me on gold inflation adjustment, it was an interesting one, if i have a second to find that on my bloomberg. i'm going to do that. here, here it is. alix, you are going to like this one. a lot of people talk about gold as an inflation hedge. we have seen a big game to $1200 an ounce. here is gold adjusted for inflation. on that basis we have not surpassed the prior high from call this the 1980's. called the inflation hedge for inflation-adjusted, it is lower than it was. does that make sense? alix: i have to process that. i wish i asked frank holmes that question. julie: the chart is there. alix: thanks so much, julie
hyman. scarlet: speaking of metals, copper. some analysts say the recent rally do not make sense. alix: prices have rallied while the consumption ratio keeps rising. since the beginning of the year, global stocks, the orange line, rose to 4.5 weeks of demand. if the inventory keeps rising, how can the rally, that white line, actually continued? i want to bring in dane davis, barclays commodities analyst. rallies make sense? we produced of that chart, we do not think this price is evidence of any turn in the fundamental data. in support of that analysis we produced that chart which shows global inventories of copper are rising, and in one market in particular, china, 45% of global copper demand, inventories have hit a record high. that is the highest on record. alix: we actually have a chart
you produced for us as well. it is the lme inventories. falling rapidly this year, whereas building for the shanghai future exchange, the blue line, lme, and the orange light is shanghai. talk to us through that. dane: we have two essential warehouse systems in the world. the shanghai warehouse is based in china. copper stored in china's inventories. we also have the lme warehouse system, warehouses all across the globe, but particularly focused on western markets. the lme inventories hitting record lows, we see the price rallying. we think the market is mis focusing its attention. it should be looking to china. as you just displayed, the metal is at all-time highs. scarlet: again, the orange line showing storage in shanghai. how much of the copper that china is importing and storing is going into demand? dane: that is a great question
and an open question for the market. china's demand is actually growing, around 10 million to 10.5 million tons. most of that israel, used for things such as the electrical grid, producing automobiles, building a new apartment building, for example. but there is an element of copper demand -- we don't think it is the primary element, but that role is there, that is what makes us scratch our heads when we seek chinese copper inventories at the hundred 50,000 tons. alix: take us through the numbers then. this broke above that level. when does it top out? what does the steep fall look like? dane: we are not in the business of calling tops or bottoms, but the key message we put forward is this -- based on where prices are right now, we don't think a fundamental justify the price level. once they move into the summer or fall, we could see prices move down. if you rewind the clock specter 2015, we saw something happen similar. we thought the worst was over.
and that as we moved into june, july, and august, the copper price fell. are set for a repeat of that exact same situation. scarlet: sentiment and psychology is really driving copper more than fundamentals. how has that evolved over the past five years? as china became a bigger focus when it shifted more to psychology and sentiment? dane: in february china shuts down. during that month there is not a lot of data released. the copper market was to trade on whatever the latest chinese industrial production data, how many cars they produce and the like. that data shutdown in february good copper was trading in correlation with other commodities. if you recall in the month of february, we had the rise in oil. it hit record lows in january and then started to recover and that lifted the entire commodity complex. our thesis is that going forward, copper is going to be viewed as a commodity in and of itself, not as part of a broader
complex pit we think that when traders start to focus on the metals in the middle fundamentals, it should resume its downward momentum. alix: what is the downside? dane: by the fourth quarter this year we think that the prices are likely to average around $1.90. we think we can hit the lows we saw in january and go even lower. there is always the potential that the china stimulus comes through, the u.s. economy remains strong, and copper rallies. as for right now, we don't think that is the case. scarlet: dane davis of barclays, thanks so much for joining us today. alix: still ahead on "bloomberg markets," the look of the irish. ♪
today is saint patty's day and we celebrate all things irish and that includes ireland's economy. it came close to bankruptcy but has since made a remarkable turnaround. scarlet: still, like most countries, the global slowdown is a concern in ireland. return to our colleagues carol massar and cory johnson. happy st. patrick's day. carol: happy saint patty's day to u.s. all. we welcome everybody to bloomberg radio. we want to bring in the chief idea hee officer at ireland, the group responsible for industrial development in the country. nice to have you here. happy saint patty's day. >> happy saint patty's day. give us an update on the economic and business environment in ireland right now. has expensed a remarkable recovery get it posted the highest growth in europe in 2014 and highest growth in europe in 2015 at 7.8%. and predictions suggest we will have the highest growth in europe in the current year,
2016. we have seen a complete recovery in all parts of the economy and we have seen a return of consumption and foreign direct investment is a big part of that story, obviously. cory: where is the growth happening? agriculture and food remains are biggest industry but i wonder where you are seeing that growth. martin: pharmaceutical, medical device, all technology, including all of the new technologies, internet companies, financial services, and generic, and food are the largest exports from ireland. cory: what are the industries that are driving the growth? martin: i think life sciences and technology by far. carol: well, and listen, it has been big headlines in terms of the favorite corporate tax policies in ireland. we have seen some american companies taking advantage of that. do you guys get nervous at all, especially in this political environment, political climate in the united states, that any of that might change in the near future? martin: ireland has an extremely
favorable tax environment but that is one aspect of the competitive offering. ands clear and consistent we are unapologetic about that. tax policy on its own does not make it an economy. we have a very strong skill space, really good talent. we have made it really easy for all multinationals to do business in ireland. all of those things combined, including very favorable demographics. 40% of the population is under 29 years of age. cory: you have also been very active doing events, trying to get ireland's name out there from a business perspective. what are you trying to do with tech companies that have found a home in the united states? martin: most of those companies are on a growth trajectory and they are going to have to internationalize and we want ireland to be the location they think about first as they
internationalize. we have seen about a 121 companies over the past three or four years who have kicked ireland as their location outside of the u.s. from which to internationalize. obviously, those companies are market seeking and are looking at the european union, europe, middle east, and africa. they need to grow and they are doing that from ireland. carol: a lot of other countries, cities, could maybe led by the policies you have done in ireland. there are a lot of troubled economic areas. what is your advice? martin: i mean, certainly, we have a lot of turbulence in the markets at the moment. a lot of geopolitical issues, some of those obviously on the border of europe. what we find -- i am doing this for a long time and my own agency has been attracting investment for 67 years and eight is consistency. it is about consistency of policy. investors want to know what they are getting into, and we have had consistent policies for many decades.
cory: does that lessen the importance or traditional focus on tourism? martin: no, not at all. to is somewhat significantly ahead of last year. actually, record o numbers. ireland is beautiful, beautiful scenery, very welcoming, hospitality. and tourism is a very strong indigenous sector. carol: what about, though, the government's debt levels? they have been high and they have been noted by world economic figures. you are bringing down your unemployment levels. what are the expectations on those two friends? martin: obviously, debt is falling. it was as high as 120%. anare now below 97% to unemployed is as high as 15.2% in 2011. now down at 8.6% and falling rapidly.
all of those indicators are going in the right direction. international investment, investor sentiment, very positive. we have seen bond yields at an all-time low. carol: upbeat on saint patty's day. martin: absolutely. a positive story from ireland. carol: martin shanahan, chief executive officer of ida island. scarlet: thank you so much, carol massar and cory johnson. alix: i'm a quarter irish, by the way. scarlet: are you? did not know that. alix: we will have an exclusive interview with canada's prime minister justin trudeau. he will tell us what is on top of his economic priority list. ♪
headlines on bloomberg first word news. mark: senate minority leader harry reid is blasting republican leaders over donald trump. he made his comments today during a speech at the center for american progress in washington. senator reid: the republican establishment ask bewildered but they shouldn't be bewildered. as much as they try to distance themselves from trenton now, republican leaders are responsible for his rise. mark: he called on paul ryan and mitch mcconnell to reject trump out right and criticized the tea party, saying it is being driven by some of the darkest forces in our culture. supreme court nominee, judge merrick garland, is making the rounds on capitol hill today. he will meet with harry reid and patrick leahy, the ranking member of the judiciary committee. democrats hope to put it election year pressure on republicans who are refusing to consider any supreme court candidate nominated by president obama.
with garland will meet chuck grassley from iowa. beforeyder is testifying a congressional hearing on flint's contaminated water. ofhas blamed a failure government at all levels, including the environmental protection agency. michigan regulators switched the water source from the detroit ther to the list -- to polluted flint river. french lawmakers say they want to better understand how the november terror attacks unfolded. they and first responders reenacted the attack at the concert hall and the suicide bombings at the french national stadium. three gunmen claiming allegiance to islamic state opened fire during a packed show at the concert hall. the attacks left 130 people dead. news 24 hours a day powered by our 2400 journalists
and more than 150 news bureaus around the world. back to you. alix: investment over austerity the canadiane prime minister trumpeted when he sat down for an exclusive interview today. be turn of sentiment may what our neighbors to the north are counting on. the looniee value of has fallen along with a persepolis decline in oil, so what is on the top of his to do list? targeting the rich with more taxes. prime minister trudeau: we are aware the growth profile of our country is not giving us the tax revenues we would like but that has been the case over the past 10 years when we have had lower growth than we should have. the platform i put forward was designed around recognizing our growth is not great and we need to increase growth. the question is how do you improve growth rates? do you cut the economy or invest in the economy?
we think you put money in the class and spend money to grow. that means we are in an approach that i am confident is going to give us the better growth that will create more government revenue and get us through this. >> you have the benefit system and have looked at tax credits for children. the question of old age security? prime minister trudeau: there is a nice aryl here. my predecessor went to davos and announce in a bloomberg -- the reviews are mixed in canada on how wise this was, announcing he is going to
raise the age one receives old age security. we think that's a mistake and i've campaigned against it. i'm happy to confirm here in a bloomberg interview that next week's budget, we will confirm we are keeping the old retirement age at 65 because how we care for our most vulnerable in society is important. graduallyople are pushing out the age at which people can take pensions. you are running against what most economists would push for. prime minister trudeau: just tweaking the age like that is a to a complexlution problem. how do we encourage people to say -- to stay active in the
workforce longer and make sure we are creating the opportunity to stay healthy longer? linkre we encouraging a between our older citizens and younger citizens who need to have all the capacity they have thehey are going to create success needed to support our aging demographics? that means there are a lot of discussions to have. things toa bundle of look at but the place we are returning to because it was a mistake to bounce it up to 67 is we are keeping it at 65. >> you target the rich and the marginal tax rate. what other things might you look at? would you look at capital gains or stock options? these are things you talked about on the campaign trail. promised mr. trudeau: we will see what is in the budget, but -- prime minister trudeau:
we want more people to be successful in canada and i have very few worries that if we put more money in the pockets of average consumers and make the middle class more confident not just about their own future but the generaluture, economic climate will be such that our big businesses will find plenty of opportunities. >> you are already seeing tech companies coming out -- i go france -- someone got creative at the time that it would be like cuba without the sunshine. you were you might be driving away entrepreneurs? prime minister trudeau: i'm going to answer those more clearly once we put for the budget that i will underline the fact that i got to be in the position i am by listening to
people, by listening to experts, and understanding what economists in his miss owners and ordinary canadians have to say about where they wanted the economy was going and what was going to help them and what was not going to help them. we made our decisions based on evidence-based research and policy. >> you did not worry about a brain drain or talent drain? prime minister trudeau: i don't worry about hypotheticals. the decisions we are taking our encouragened to entrepreneurship and encourage businesses that are growing and encourage canadians to feel optimistic and confident not just about their own future but their children's future. about just talked entrepreneurship -- bombardier used to trade at $27 and now it's just a dollar. it wants a billion dollars from
you and you seem inclined to give it to them. why should the government be helping businesses like that? prime minister trudeau: you start with the new aircraft put forward and has been allotted as an extra gary airplane. it is really more efficient and fabulous in all ways than just any other plane on the market. there is an understanding that canadian aerospace and our body 8 -- lombardi eight itself -- bombard ea itself going to all , theyg airspace companies have needed significant government support. how do weok at his ensure there is a strong aerospace industry in canada, not just right now but five years, 10 years and 30 years? how did we make sure the high jobs and innovative solutions put forth by the aerospace
industry are there for the long haul? whate looking at this as is the right investment and is it a smart investment for the canadian economy and the global market? that is the lens we are taking on that decision. you would say you are happier putting this money behind them? ?rime minister trudeau when you create the right choices to row the economy and make sure there are good jobs, it doesn't have to be an either or. knowing you are growing the economy in meaningful ways which will allow you to continue to invest in things that matter. do you know when you can expect an answer to when you are going to answer the question? prime minister trudeau: this will be answered when we have the right answer to give. we are taking our time in a
deliberate and thoughtful way to make sure we are doing the right thing in the interest of the canadian industry and high-quality jobs and our responsibilities toward taxpayers to get the opportunity costs right. >> what is your biggest worry? : a lot ofster trudeau what i worry about is ordinary folks are going to withdraw their support for the growth economy. governments of different stripes got elected on platforms that were pro-growth. centerleft, center-right, pro-growth with tax competitiveness and fiscal discipline. , investment, these are things we know are good for growth and we explicitly or implicitly said we are going to grow the economy and it will be good for you. but the middle class looks at the fact that it hasn't had a
real raise and 30 years when you look at median incomes and when you look at the fact people are worried their kids are not going to have the kinds of opportunities and quality of life that they have had, there is a danger people will get frustrated and withdrawal their support for the growth agenda. that would leave everyone worse off, so we need to make sure we are demonstrating growth can be good for everyone and not just the top percentile. trudeauat was justin speaking exclusively on bloomberg television. scarlet: three years after it bought boston dynamics, google is changing its mind and unloading the robot maker. ♪
scarlet: this is bloomberg markets. alix: the central bank of norway cut its benchmark interest rate to a record today of .5%. the banks governor says he is prepared to ease policy even more. we approached zero from the outside, we present the bottom is .2. in my mind, that is close to zero. room for maneuver we have an monetary policy, especially on the downside, we have gone deeply into this issue and have experiences from other
countries. this is for a lower bond. if the government is exposed to further shocks and we say we could exploit that opportunity. >> you say you are proceeding with greater caution on rate setting. why? has to do with the mechanism for monetary policy that we analyze. there are reasons to consider further cuts to the interest regarding stimulus to demand, to investments and consumption in this low rate scenario. risks inincreases the
terms that households could further increase debt levels and coulderal, even low rates that in the system and produce the backgrounds for what we have. alix: let's head over to the markets where julie hyman has the latest. the dow slipping into positive territory for the year. julie: the political crisis that has been happening in brazil -- a lot of developments happening today, including a judge trying to lock the former presidents approach to the cabinet. might see anhat we
ouster. we have seen stocks rally and we heard the central bank coming in saying that it is not going to because take a look at the currency today -- this is the dollar selling off against the brazilian currency. a lot of -- a couple of charts i want to bring to you. is the os but. arst, we have news report senator agreed to testify and what is being called the car wash case, the case investigating corruption. then there are reports that linked lula. stocke had the brazilian index at a seven month high. tap renewing speculation that he was somehow
embroiled in all of this. we have been seeing fund flows increase into an etf that tracks brazil. agoaw in march about a week the flows of the highest they had been since october of 2014. we saw brazilian stocks continue to go lower but i have had that bounce and investors are getting more and more interested in brazil. it will be interesting to see what happens to the various assets there. boston dynamics was at the forefront of robotics technology when google acquired it, but bloomberg has learned it is going up for sale. alix: what does it mean for alphabet's robotics ambitions. brad stone joins us now from san francisco. what was boston dynamics? was it robot pets?
brad: people might be familiar with the videos that the company has created -- they live pedal robots walking through the snow, lifting packages and putting them on shelves. this was a research group that sprang out of m.i.t.. acquired ago, google boston dynamics along with a bunch of other robot companies and then with the creation of alphabet, new orthodoxy at google has arisen around creating products with real revenues -- digg the price. they have decided it doesn't fit. scarlet: wasn't this blood of alphabet into google means that the company was allowed to take men shots in boston dynamics would fit into that well? brad: these companies inside as abet are startups
result, equity is worth something and that they could go and hire talent, entrepreneurial employees that would join the companies because they knew that the equity in those companies would mean something. the replicant group, they companies that have been acquired were working together well but there wasn't real product even 10 years out. even though these videos are viral, the units are theatrical in the robots are problem we very expensive. not something you are going to buy in the next couple of years. alix: how much could boston dynamics be worth in a sale? brad: good question. did not put the original google purchase price in the story. i think it was along the lines of $60 million, but there are some interested parties.
we owed looking at this kind of research. itson, which is automating services and can't make its robots move fast enough. maybe amazon would be interested onause you could save money the people who have to flood into the warehouse is every christmas. we will see how much it goes for in the sale, but it's a research division and it's probably not a lot. what about the military? is the military interested in something like boston dynamics? brad: that is interesting because -- the military had some notrest and it really has been involved in military research recently, but perhaps
-- i think the military works typically with third parties on this kind of thing and it's not something it would bring in-house. alix: what does this mean for the rest of google's robotic units? brad: this is indicative of a broad retreat. all of these companies google had acquired a couple of years ago except or boston dynamics were folded into google lacks. this is a research division. the head of google ask said to those engineers that robots might not be the answers to the problem that we are solving. google access taken on a practical attitude. i think already they have reassigned some of those engineers. some have left google altogether. i think it is indicative of a broader retreat even though the videos are cool. placingthink google is
alix: welcome back to bloomberg markets. time to check out our chart of the hour -- this one is about inflation -- something we will be talking about on "what'd you miss?" to 2.3% cpi moved up and this is causing a lot of controversy within current fed officials and previous fed officials. alan greenspan says i'm concerned inflation could be a thing, but janet yellen saying she doesn't feel inflation is going to overheat anytime soon. scarlet: the current fed has
been clear stating the transitory affect on the way down means on the way up it is temporary. they are not taking much stock consumer price index seems to be rising along with pce. russ green -- greenspan says i am concerned about how things are going to get going. be sure to tune into "what'd you miss?" we will speak with the former fed president coming up at 4:00. we will talk about inflation and negative rates. could be a good conversation. stay tuned for that. ♪
from bloomberg's world headquarters in new york, good afternoon. here is what we are watching this hour -- markets surging .igher after the fed how we went from red to green on the year with the worst start to record. crude oil tops $40 a barrel for a time today, hitting its highest level in over three months. can we finally say the worst is over for crude? a recent health care at chipotle has put the company's food safety back in the minds of customers, leading to renewed fears as shares tumble again. canned chipotle ever escaped the safety question? two hours from the close of trading and stocks are soaring at session highs today. ramy inocencio has the latest.