Skip to main content

tv   Power Lunch  CNBC  October 31, 2017 1:00pm-3:00pm EDT

1:00 pm
long story short i'm buying it. ie li i like it for long term. >> allergan, i think it's going to continue. it has more intangibles. >> softbank, rumors they were going to break off from t-mobile >> all right see you tomorrow power starts right now here's what's on the "power lunch" menu. farma is under fire. most states are suing for price fixing and keeping prices artificially high on 15 different drugs. the iphone x reviews are out cost a cool grand. so far most reviewers think it's worth it apple stock hit another all time high moments ago. housing's labor crisis hope builders are desperate to
1:01 pm
find skilled workers some builders are starting their own trade schools and they are free we'll take you inside one. power lunch starts right now hello and welcome. busy two hours ahead stocks higher on the last trading day of october spooky, not so much this month nasdaq, new record highs today it's been an october for bulls the dow and s&p 500 both on track to post their best monthly gains since february on pace for their nineth positive month out of ten this year take that any day, right nasdaq could post its best month since march. let's check out some movers. this one moving the other way. under armour down about 13%. slashing its out look there. rock well automation is soaring.
1:02 pm
emerson electric wants to buy it and has made a series of officers over the past few months rock well rejecting those un unsolicited offers bryan. >> thank you we begin with breaking news. president trump weighing in on the tax plan saying he wants a bill passed by thanksgiving. >> reporter: it is an aggressive timetable. the president decided to invite the media into a bit of a pep rally. they weren't going to bring the media in they decided to do that. the president made a pitch to those business executives and said what he wants from them is uni unity. here's what he said. >> we need you to be united, committed and proactive in order to overcome the forces fighting
1:03 pm
and there are forces fighting that very much benefit by the way it is now but that's batd f -- bad for the country. they know that >> reporter: although the president pitched them on the idea of unity, a number of executives said there are differences within the business community on how taxes ought to be approached. some industries see this differently than some other industries in terms of who wins and who loses. the president was also asked by reporters who were in the room whether or not he felt the corporate tax rate should be phased in. that's something that's been talked about he's not entirely in control of that the lawmakers will be the ones deciding what goes into the bill the expectation is the president who is eager for a legislative
1:04 pm
win this year would sent to him whatever deal on tax cuts. >> all right thanks so much we have another breaking news story. a major expansion of the investigation into alleged collusion by drug companies. they are accused of keeping drug prices artificially high the president of mylan is target of the suit. that stock taking a big hit. >> when this was announced back in december it really rocked the generic drug world at the time the suit included two companies and six medicines. it adds 12 companies and names two individual drug company executives as defendants that's what's driving down shares of mylan. the company has deep faith in
1:05 pm
the integrity of the president and standing behind him fully. mylan was one of the companies originally named this expanded complaint adds 13 additional drugs saying in some cases prices doubled, tripled or increased 1,000% guys >> stay here connecticut led this investigation beginning in 2014. now it's expanded to 45 states plus d.c. and puerto rico. joining us is connecticut attorney general he's with the agency that's leading the lawsuit. thanks for joining us. you would disagree what are the one or two key findings that show any kind of evidence of collusion or illegal price fixing under the sherman
1:06 pm
act? >> what we show is systematic price fixing within the industry the industry is headquartered in mostly northern new jersey and suburbs of philadelphia. the executives and sales people attend industry conferences together, industry dinners together they may golf together we have uncovered through e-mails text messages and telephone patterns plus corporating witnesses a very compelling case of systematic price fixing >> there's e-mail, records of phone calls, records of meetings i know the department of justice has opened a criminal complaint. >> i can't hear you now? >> he cannot hear anything let's try to patch that back in here meg, if you read the complaint,
1:07 pm
there's clearly somebody has access because there's phone records, there are e-mail trails okay, he's back. can you hear me? >> i can >> meg, now you sit tight. we'll come back to you thank you very much. the doj has a criminal case open against two gentlemen who work for heritage whichis a division -- are you there? all right. we know the state of connecticut had financial issues i didn't think it went as deep as their telecom sector. >> this is massive complaint, meg. i read lots and lots of text messag messages between sales representatives and attorneys suggest they are arranging don't cut your prices because we want to distribute our market share to a certain degree that we all pre-determi pre-determined do i understand that correctly >> they're alleging a number of
1:08 pm
thing things we understand as more and more entrants come on to the market in generic drugs, it's not just when there's one drug on the market that it claps, it's one they come in. it's what they are talk about here is trying to keep competition out of the marketplace. interestingly, ryan was talking about with heritage, this is something that was thought of in a note today really looking at the involvement in former heritage executives maybe cooperating in this investigation. people trying to figure out how much this is going to impact these companies in terms of potential settlements. that what people are speculating about right now. it doesn't look like necessarily huge amount of money >> okay. third's time the charm i should get paid by verizon
1:09 pm
are you working alongside the doj or are they working independent? there's a lot of stuff that's redacted, blacked out. >> it's really a parallel investigation. we have a positive working relationship with the justice depts. we have an obligation to enforce our state laws that's what we've been doing we're uncovering new information almost every day this just the tip of the iceberg. >> you cite they go to conferences together and a lot of headquarters are very near each other when i read through this complai complaint, which is massive. you have to believe that dozens and dozens of people are
1:10 pm
involved in colluding, price fixing and agreeing with each other they're not going to do certain things would it be that pervasive >> it's really baked into the culture of the industry, unfortunately. in ta days immediately proceeding price increases the evidence is very strong. >> how far back do these allegations go in other words, how deeply rooted in time are they, number one. number two, how much money do you think this alleged collusion cost consumers >> it seems to go back to the better part of a decade. the industry is a $75 billion
1:11 pm
industry about 88% of all the drugs, prescriptions that are written are for je negeneric drugs with% for branded. even a small percentage can be very large sum of money. >> you used the phrase tip of the iceberg a few times. i think you used it in december and again today. are you implying there may be more executives named in the future expansion of the suit >> i would not rule it out we would not rule it out that doesn't mean we're splaning any specific individuals at this time >> is there a number that you can put on this gorgeo do you have a big number in mind that would suit you? >> no, it would not be
1:12 pm
appropriate for me to comment at this time. >> is it over a billion across all the companies? >> again, 75 billion dollar a year industry. that means even a 5% increase you're talking into the billions of dollars and multiply that times years. it's going to be a big number. >> can you give us an example of one particular drug, what it ended up being priced at through the alleged collusion versus what it should have priced at? it's hard to know what the market price would have determined that's what the market is for but do you have any sense of the disparity? >> when a single generic comes into the market, typically they price it as close as they can to the brand of drug prices three or four competitors get it in, it should drive prices down. do the math, if by collusion you can get drugs priced at 40, 50,
1:13 pm
60% of the brand of drug, it's savings off the brand of drug but it's a huge profit huge increase in profit if it's down around 20%. >> connecticut attorney general, thank you very mump for joining us we appreciate it we have reached out to mylan and others if we can get them on, we will >> thanks for having me. the first reviews are in for the new iphone x josh lipton joining us >> is it worth the $1,000? reviewers are weighing in. the most talked about fee chatu and face id and whether it works as advertised. apple passed the test with flying colors recognizing him when he wore a hat or sunglasses or both. at the verge, face id mostly works great. says it was inconsistent this bright sunlight.
1:14 pm
still he was fan of that new display. he says this is the best iphone ever made. jeffrey at the washington post says the iphone x might not be for everybody. that's because there's also the cheaper iphone 8 which has technology that a lot of people are going to be more familiar with like a home button, for example. as for the battery, apple says you should get up to two more hours of battery life than the 7. buzzfeed reviewers says battery life was decent though not stellar. apple reports results on thursday it's going to be out quickly it takes apple roughly three months to come into supply, demand balance could it take longer
1:15 pm
back to you. >> will the iphone x be a perfect ten for apple and its investors? let's take a look at shares. $168 there's a lot of syllables in there. i hope i got them in i have in my hands an iphone x it is sleek. it is bright it is lovely it is a classic apple design here is it going to deliver the kinds of profits that apple wants to drive the stock to the next level? >> we do think this will be the big game changer for the
1:16 pm
company. this will not happen until early next year. i see a scenario where not only will december be fairly robust but march could be a lot less down of what you see the stock will constantly working to the 180, 190 price point. >> over the next six to nine months you see this as a tail wind not just in fiscal '18, but this fiscal year '19 as well. the iphone x, who is its target audience and who's going to want it as compared with the apple 8 plus which is only slightly smaller in screen size who is their target beyond
1:17 pm
people who have plenty of discretionary income >> amazing part of the the indiscretional income is most of the purchases is done on a monthly installment basis. it's not as cost prohibitive as it may appear. about 30% of the existing iphone users want to buy the iphone x demand is not just high on the income echelon but spreads a lot further down >> all right thank you very much. >> thank you >> you want this back?
1:18 pm
>> no, it's somebody else's. it's not mine. >> i can keep it >> it's a lovely piece of work >> it's pretty the screen is nice >> you go for it immediately you absolutely do. draw your attention to shares of bitcoin hitting another high that the cme group the is planning to launch a bitcoin futures market by the end of the year pending review by regulators. it's a move that could further integrate bitcoin into financial markets and give a larger audience to ability to trade the digital currency some traders say it could also put bitcoin in the same league as oil and gold. you saw bitcoin surpass $6400 this morning terry duffy will be on with more on this move into the bitcoin futures market
1:19 pm
under armour investors increasingly under water the stock getting clobbered again after the company cut expectations what can under armour do to turn itself around? just how long will it really be until you look over and the driver in the next lane is not there? the real time line of truly self driving cars plapand generating income. that's real etf innovation. flexshares. built by investors, for investors. before investing consider the fund's investment objectives, risks, charges and expenses. go to for a prospectus containing this information. read it carefully. ...from godaddy! in fact, 68% of people who have built their... using gocentral, did it in under an hour, and you can too.
1:20 pm
build a better website - in under an hour. with gocentral from godaddy. anything worth pursuing hard work and a plan. at baird, we approach your wealth management strategy the same way to create a financial plan built to last from generation to generation. we'll listen. we'll talk. we'll plan. baird.
1:21 pm
1:22 pm
lebron sense of greatest of all time shares of under armour getting crushed. that's a 70 plus percent drop. >> slowing sales leading it to slash its forecast on top of a previous cut in august earnings also expected to be lower than previously forecast ceo says store closings, competition and shifting taste for weak north american sales are to blame neither under armour nor nike will call out the share adidas are taking wholesale revenue fell 13% consumer sales did rise 15% but direct to consumer is half the
1:23 pm
size of under armour's wholesale business margins fell more than expected. the shares are down 17% or so today with more than 25% short interest in the stock. we should note that plank has held a majority voting power through a separate voting class of shares since 2015 if you're unhappy, you might have a tough choice there with the way he holds the power >> where did they go wrong what stopped being hot >> i think when they pushed big into shoes which is something that they -- you have to get really right when it comes to performance. i think they've just fallen there. improved a little this quarter over last quarter but still not where they want to be or where they should be for the amount of money they have spent investing there. that's an issue. the apparel is falling off i know some folks we talked to, when you have little kids that aren't too wearing under a ar r armour, it takes away from the
1:24 pm
people who want to buy it for the performance aspect adidas is really getting hot and that's hurting nike and under armour >> if you're an under armour investor, is now the time to throw in the towel what do you do hi, anna same question to you how much of this is adidas has a hot hand how much is they're rolling over and no long a hot sector and houho much is an under armour problem they're not executing? >> we've been avoiding the stock all year even today with the dip, we still would not be buying under armour shares. earnings estimates are coming down faster than you would expected we took our 18 down pretty significantly. >> i'm asking why those things are happening. >> it's a combination of things. come is self-inflicted
1:25 pm
we think they've gotten and stay stayed stale longer than they should have and haven't innovated as much. the lead times in the industry are still very long. under armour talked about 18 to 20 month lead time in some of the footwear categories. this is at a time when you have adidas innovating more than ever it's still very low. they're lead times have been increasing remarkably. they are out of three athletic companies making the most strides with the speed to market >> we know what's happened investors want know what's going to happen. what do they need to do to fix this thing if you're going to give kevin plank one or two piece of advice, what would they be >> i guess they did hint at evaluating some of the wholesale distribution earlier this
1:26 pm
morning. they did not specifically indicate what that means they talked about exiting some of the doors to north america. certainly managing the business with a scarcity value and potentially exiting some doors would be something to think about. also, this year they talked about not increasing marketing as much as they should have. next year there will be some marketing investments as well. so far adidas has opinion successful going after celebrities. >> very quickly, are they going to become a take over target >> i think no. kevin plank still own a lot of stock. we think that will be tough. >> all right thank you.
1:27 pm
the economy grown 3% but can it keep up the momentum. we'll tell you what top economists are saying. self-driving cars may be coming sooner than you think. we'll ask what it's like riding in the passenger seat of the car with no one behind the wheel stay with us
1:28 pm
♪ traders -- they're always looking for advantages. the smart ones look to fidelity to find them. we give you research and data-visualization tools to help identify potential opportunities. so, you can do it this way... or get everything you need to help capture investment ideas
1:29 pm
and make smarter trading decisions with fidelity for just $4.95 per online u.s. equity trade. fidelity. open an account today. ♪ open an account today. ray's always been different. last year, he said he was going to dig a hole to china. at&t is working with farmers to improve irrigation techniques. remote moisture sensors use a reliable network to tell them when and where to water. so that farmers like ray can compete in big ways. china. oh ... he got there. that's the power of and. self-driving cars are coming the only question is when. aft after spending the day with wamo the answer is wamo sooner than
1:30 pm
you think. >> it is coming much faster. yesterday we spent the day inside waymo's dwoevelopment center which is three hours east of here at an abandoned air force base we had a chance to talk with the ceo. he says self-driving cars are close to happening wouldn't put a time frame on it. this is not something we're looking out years. it lets passengers see what the van sees you see that on a screen you tell the van when to pull over as a passenger, they are all focusing on making you comfortable in the backseat. having said that, what waymo is working on and the other automakers include some hurdles that they will need to overcome. what are the government regulations regulations? those are still being hashed out. will safety drivers be required. will you be comfortable and there's nobody behind the
1:31 pm
steering wheel will the public accept these vehicles are you going to be comfortable with that or say uh-uh, i'm not getting in there this is a company that is not just looking at self-driving vehicles and the technology as a project, a side project. he made it very clear, they are look at four area where is they think they can commercialize this product and or these vehicles and the bottom line is this the technology is coming much faster than people previous lly expected >> all right very cool. look forward to doing that some day. thank you very much. the race for the new head of the fed has had more twist than jersey shore taffey. this fed kicks off a two day meeting today with an interest rate decision tomorrow is 3% economic growth here to stay
1:32 pm
>> unfortunately not there is monetary policy toll be done between now and when the next fed share takes over. here is what's expected. 98% think the fed lead rates on change 96% say there's going to be a third rate hike this year in december three rate hikes is the number expected for 2018. let's take a look at the growth that bryan was talking about i want to show you the trajectory here. each one is a fed survey that we have done. notice the optimism that happened after the election up to 2.6 this year it's gradually come down now a little bump up in optimism we're not going to getto three but 2.6 is the expectation for 2018 looking forward to the chance of recession. that's come down you can see over the course it's been as low as 13. as high as nearly 30%. it's come down below the average we've had at around 17%. what are the biggest threats to the recovery number one and it's been this
1:33 pm
for a while, geopolitical risks. number two, protectionist trade policies and number three, fed policy mistake the concern we're going to go too far when it comes to rate hikes. there is a new normal. 3% growth coming versus 2% it could result in a disasterous trade war. our last snap fed poll on when they wanted to be fed chair, they wanted yellen but thought they were going to get powell. back to you. >> we'll know in a couple of days >> maybe, just two days. 2017 been a great year for stocks can the rally roll on we'll explore that when power lunch returns. rity events every. ddos campaigns, ransomware, malware attacks... actually, we just handled all the priority threats.
1:34 pm
you did that? we did that. really. we analyzed millions of articles and reports. we can identify threats 50% faster. you can do that? we can do that. then do that. can we do that? we can do that. can ♪e do that?
1:35 pm
what we do every night is like something out of a strange dream. except that the next morning it all makes sense. to power global e-commerce fedex networks are massive, far-reaching and, yes... a little magical. slash dream i am a first responder tor and i'emergencies 24 hours a day, everyday of the year. my children and my family are on my mind when i'm working all the time. my neighbors are here, my friends and family live here, so it's important for me to respond as quickly as possible and get the power back on. it's an amazing feeling turning those lights back on. be informed about outages in your area. sign up for outage alerts at
1:36 pm
together, we're building a better california. hello, everyone. i'm sue herera president trump headed to asia later this week visiting five
1:37 pm
countries in 12 days senior administration officials telling reporters he will not visit the dmz arguing it's become a little quote, bit of a cliche and there's not enough time in the trip japanese prime minister abe meeting with nato secretary general in tokyo to discuss cooperation in addressing north korea's nuclear program. in a joint statement they condemned the north korean regime sf north korea's nuclear tests are an afront to the united nations security council they are a threat between national peace and security and they pose a clear and present danger to nato partners here in the region >> well, it's the best day of the year for candy lovers but you may want to skip the black licorice eating too much may have dangerous side effects the problem is caused by a sweetening compounds in the
1:38 pm
licorice root. large amounts can cause an abnormal heart rhythm, which is never a good thing back to you bryan. >> all right the dow industrials are up this year. if the index doesn't gain another point the rest of the year this will still be the pest chance of the past decade trailing the massive 26% move. is the dow done for the year or is there more to come? not a bad year, mike >> it's not. ten months in, not a bad year at all. that gain we have seen, the nice gain was racked up in large part by the dow and the other index as powering higher to what is supposed to be the weakest parts of the year. every one knows the whole sell in may adage that's because you're supposed to stay out of the market may to
1:39 pm
october, which is weaker part of the year with an average gain of 1 or 2%. this year we're up more than 7%. how about august through october? also supposed to be a treacherous period now the question is have we pulled forward gains from what is a year end rally or strength into the new year. history says not necessarily if you look back at all the years when may to october had a 5% gain, thesubsequent gains o the rest of the year was 5% on top ov that and threw it. >> the prudential financial. good to have you here. >> thank you
1:40 pm
>> october supposed to be scary. it wasn't. we're going into what is nor ha - normally the best time of year, does that mean this could be a bad time >> if you have geopolitical risk, it could be bad time the thing we look at so closely that's underpinning this market, is strong financial conditions. they are so strong now credit conditions are nice and healthy. those are things that can keep the market propelled and the earning system is telling us that revenue growth, the top line is coming in above 65% of the companies that have beat the revenue rate of the companies that have come in with the earnings it's very good for the market. don't forget, if i've an active manager, i have got to have performance. i've got to lock it in and make sure that i have nearly performance that at least shows an active manager deserves to be
1:41 pm
included in a portfolio. >> or else you lose customers and pass them. >> kevin, smooth sailing ahead >> we have reached a point where the economic growth is starting to catch up to the stock market growth we have seen over the last agts years. it will be more selective for the remaining quarter. i think areas sump as bio tech and international equities will shine. >> what about 2018 >> 2018 -- >> did we borrow from 2018 >> we always have. it depends on when the market stops for the year typically you'll see a lock in date >> you tell me when that is? >> call me again, if we start to see stronger economic growth that demands higher interest rates the market will get a bit nervous about that that's part of the financial conditions again, if there's any geo political risk that harbors over
1:42 pm
the market we don't get tax cuts all of those will start making the market more selective and nervous. the beautiful part of this market is the rotation we have seen >> beautiful >> why is it beautiful >> it's beautiful because the market is not just sitting there. even though five stocks have pushed the market higher >> that's what i worry about we've had one down year in the past ten we came off the crisis the 26% gain 18% gain in 2009 stocks only go up when there's more buying pressure than selling pressure at some point do people run out of cash to invest. the market has been incredible after this kind of run, how much more is out there. >> also to pick up on bryan's point, first year of a presidential term.
1:43 pm
if we have more certainty around who the next fed chair is. i think there's a lot of opportunity for dproet ahead, but you have to be a lot more selective. i think we have seen the baton handed from domestic equities to international. >> did i call bryan, kevin >> it's five words, five letters. ends in an n i'm very flattered by it >> todd, i'm totally fine with it we have a news alert to get to >> that's right. netflix making an announcement about house of cards saying they decided to suspend production on house of cards six 6 until further notice to give us time to review the current situation and address any concerns of our cast and crew. this follows allegations levelled against star kevin
1:44 pm
spacey about inappropriate behavior and sexual assaults of a 14-year-old. there's a comment out from kevin spacey yesterday and now we are hearing that this sixth and final season of house of cards which is scheduled for release next year, production has been suspe suspended. back over to you >> they shoot this this baltimore. >> i was thinking about that charm city you have a lot of friends from there. they hire a lot of people. this is a big production you also have under armour kind of rooting for charm city >> bad week. >> not a great week for baltimore. >> too bad thanks rick is tracking all the action >> look at the following chart they have something the common right now two year has a two point base range
1:45 pm
quarter of a cent. we're hunkering down here. the market is consolidating pretty lofty levels. the big show on thursday it's been moving higher and a lot of talk today. this exchange hopes to with regulatory approval have a bitcoin futures by the fourth quarter. cast settlement against what they call the brr. that's bitcoin reference rate. what's really interesting no matter what you think, whether you're like jamie diamond or people who trade bitcoin, pro or con. bring credibility and liquidity. no matter how it turns out, it's probably better off. ceo and chairman will be on closing bell around 3:40 eastern. with the love and $6300 worth of love for bitcoin, you probably want to tune in. >> great it's econ 101.
1:46 pm
when demand is greater than supply, you just make more homebuilders can't build more houses why? not enough workers one company in denver is trying to solve that problem. >> that's right. the labor crisis in housing is only getting worse one colorado area home buildering is tackling it head on and spending millions to do it we'll explain, next.
1:47 pm
1:48 pm
many of the home building and home building stocks rallied. the itb up today up % over the past month on pace for its best month in over a year. some of the smaller players, they're all leading today's gains. speaking of homes and housing,
1:49 pm
if you're a homeowner, here is some good news nationally home prizces rose jus 6% on average. since everybody loves lists, here are the three hottest markets in america here we go number three, san diego. home prices up just under 8% from a year ago. number two, vegas, baby. no longer called las vegas home prices jurping more than 8.5% from a year ago number one, seattle. look at this prices rising for homes 13.2% from a year ago which is down slightly coming up next, usg'hoins labor crisis and what builders are doing to fix it. at, what happen? i was having a good round, and then my friend, sheila, right as i was stepping into the tee box mentioned a tip a pro gave her.
1:50 pm
no. yep. did it help? it completely ruined my game. well, the truth is, that advice was never meant for you. i like you. you want to show me your swing? it's too soon. get advice that's right for you. investment management services from td ameritrade. j today's housing numbers
1:51 pm
1:52 pm
could have been stronger except there is not enough homes out there to build why don't builders build more homes? >> the answer is there is not enough workers one builder in denver is attacking this head on
1:53 pm
diana olick is live with this story. >> reporter: high ty, a non federal government groprofit group launched this, the ceo told me he cannot afford not to do it. >> trade associations are involved other home builders are involved because we all know that if we don't do this, we are not going to have the labor force to meet the needs of our industry. >> reporter: now the academy is running 11 boot camp in this first year of a cost over a million dollars. they hope the double that next year bad nationwide particularly in denver where the economy is growing far faster than the housing stock. >> the academy will train anyone from young millennials to a 48-year-old hair stylist who saw the program on the local news and signed up.
1:54 pm
>> this is something that i always wanted to do and this was a great opportunity that came up >> reporter: so the hardest part of this, of course, is getting people to come in and do the training joining us is the director of the academy, mike smith, thank you very much for being here you told me they are not banging down the door to get in, what do you have to do to get them here. >> we are changing that construction jobs are a great job and get the maessage out we don't talk about it as a pathway out of high school we try to do that and in a facility like this as often as possible >> reporter: the noise we are hearing because we are in a framing factory. you have potential employees right next to a company that oak wood owns. how fast are these feedbaactoris
1:55 pm
getting jobs and are they good? >> they are, they are coming out and getting jobs within a number of day >> reporter: i noticed there is a lot of women in the class. a lot more in your class, why is that >> i think we are proud of making sure that our recruitment process shows that we can have diversities and women in our industry we want to have more of them coming into work >> reporter: i know you want to expand this program and costing a lot of money what are you doing to expanding the program and not just here but nationwide >> we are often asked to go talk to other high schools and home building associations and industry partners of how we have done and what do we learn and help other organizations to do the same >> reporter: do you expect that big builders may get into this at some point? >> we hope so. they are the ones building as many houses as possible and we want to work with them >> reporter: how much is the labor shortages affecting denver economy. we know there is a huge housing shortage how much of that is helping with
1:56 pm
the growth economy here? >> in colorado, if we are not building it, we are not growing our state. >> reporter: do you start hearing that from other builders around the nation? >> we do, we have a lot of phone calls coldiming in, how can we o what you are doing in colorado >> reporter: thank you very much, mike smith, director of the home building academy. a great program, back to you guys capitol hill is about to turn to capitol grill, top players, facebook and twitter and google, they're about to appear in the senate here, what they as companies, failed to do to stop corruption we'll be right back.
1:57 pm
1:58 pm
1:59 pm
welcome back, here is what's topping your headlines at this hour drug companies, the fallout for big pharma ahead the iphone 10 reviews are pretty good does the price not matter for apple anymore? top executives from facebook and
2:00 pm
google and twitter, all about to be grilled over the election we'll talk about this in our second hour of "power lunch" begins right now i am michelle caruso-cabrera the nasdaq is going out with a bang, hitting another record high today the dow and s&p 500 are in space of their best monthly gains since february october is supposed to be a bad month. not this year. consumers and staple and telecom. those are the lagger under armour is tanking 10%. >> netflix is trading lower. season 6 of "house of cards" will be suspended.
2:01 pm
this comes after sexual abuse against actor kevin fli netflix is the producer of "house of cards. the etf is up its highest performances of july of 2015 leaders including intel and nvidia and vaneck. >> i don't see intel at that level. anyway, how much donald. at this hour, president trump meets with house speaker paul ryan to talk about tax on this halloween afternoon the so called death tax that the president wants to kill.
2:02 pm
the president wants to pass this as the time turkey is on the table. ylan mui >> reporter: senator collins heard the man of supporting any tax bill, she does not want to see a tax cuts for millionaire and there is no repeal of the death tax for what officially known as the state tax he told reporters that he does not think lawmakers have the stomach for a full repeal. what they may do instead is just increasing the exemption for the estate tax so fewer people have to pay it. the estate tax only mapplies to individual tatstates that could double to $11 million. these are details lawmakers are hashing out right now here on capitol hill in the white house. house speaker paul ryan is
2:03 pm
scheduled to meet with the president and he will head back to capitol hill for a meeting with conservative meetings mike pence is having lunch with senate republicans here on capitol hill we'll have to wait until tomorrow to see if this tax bill is more trick or treat back over to you >> halloween humor, thank you, ylan >> another thing that maybe dead is salt. that's an acronym for the state and local income tax in an interview with hug hugh hewitt. kevin brady says the way tax bill is now, you will no longer to be able to deduct your state and local income taxes however, you will be able to do your property taxes. lets bring in larry kudlow >> does this look very republican at the moment there is the death tax and the cut and corporate rate over
2:04 pm
several years instead of immediately and where the growth would happen >> that's key. republicans have made the mistake before if you phase in the corporate tax to 20%, they're talking about 3% a year over a 5-year period >> reducing it 3% a year, 35 to 20 >> that's correct. >> trump opposed to that, good for him. he told that this morning according to news reports with his meeting with the brt and the chamber. in 1981, reagan, i was there, we had 70% to 50% and it was phased in over three years. the full effect of that did not happen until 1983 and that's when the economy took off. bush w his tax cut of 2001 was phased in over seven or eight years it was not a bad tax cut but nothing happened until they
2:05 pm
accelerated and brought it forward to 2003. in which case immediately the economy took off and had about a five year boom until the financial crisis lets not repeat that mistake people are not going to pull the investment trigger until they get the lowest possible cost of capitol. they're going to wait for that >> there is 2022, that's nuts. this die llutes the whole thingn will take the bang out of it if you go into a store and you see there is a sale, lets say mink coat and i will get you a $10,000 mink coat michelle >> don't tease me. >> why cannot i wear a mink coat >> the point is the sale is six months off >> you wait. >> thank you it is common sense apply ha this will do some damage for the growth impact.
2:06 pm
the other thing i want to say as unpopular as this maybe. if the republican party raises the top income tax rate. >> they're talking about something. >> raises are on the table if they do thart, a lot of us ae going to be unhappy. at the highest end, you are talking about people invest. you don't punish success supposedly mr. trump is trying to end the war on success if you raise that to 42% or 44%. >> would you have another bracket? i thought what was happening is 39 39.6 if that comes down a little, right? >> we don't know >> see that's possible the 3 brackets are talking about 12, 25 and 35. that's the baseline right now.
2:07 pm
35, fourth bracket can be 37 or 38 i don't like that. i don't care about that stuff. if you take that fourth bracket and put income test, i don't know what it is, a millionaire which sometimes defines a lot less than a million faaire if you drive it up to 44%, trump said no, if you do that, you are going hurt the economy and you are going to hurt invest m these are the people that invest their money and their winnings and earnings it is a terrible idea. >> they're trying to pay for this are they focusing enough in this process? >> growth. >> reducing sping spending >> well, the short answer is yes. it is not beginning to be fabulous it is not. >> the house put out a tough bill but the senate was less tough >> the president has put out tough charges. >> the budget is exactly right >> the thing about this and i got one more -- >> so the difference does not matter anymore >> many republicans had
2:08 pm
complained about deficits. >> i don't care. >> suddenly, well, you don't, i am saying in congress. suddenly it appears that deficits does not matter >> some of it, it does >> to pay for i will go back and say the pay for should be 3% plus economic growth that is the ultimate pay for that's the mother of all pay forth. these knicks and knacks, it does not worth the price you have to pay. some people will drop out if they are do not. i don't want to see them screw it up. >> it looks like the real estate lobby won on this.
2:09 pm
>> does anything change on the tax that's important to argue. >> that's very important they took it out it just drops out. it was in the trump's plan and the house and all of a sudden, it dies. if you are going to raise the threshold on the top for wealthy people put back the capitol gains tax you know why capitol gains tax reduction raises revenues and promotes investment >> politically distaste full now you give democrats the easy line that you are cutting taxes for the rich >> i don't care. >> millionaires and billionaires >> can i just say, no matter what the gop does. they'll say that >> it does not matter. the gop must not be malmouth by
2:10 pm
all these. >> we hear from kevin brady and diane black, little known diane black of tennessee maybe the key of all of this in the house, was she not? >> she's chairman of the budget committee. > >> no. >> and ways of means >> ways of means absolutely. >> we have not heard from her so we don't know necessary. >> this is tax talk now. this goes to the ways and means committee and the leadership one more thing, they're talking about a foreign minimum tax. now, this is not good, right this is this is out there. i don't know what it is going to be it could be a minimum tax on intellectual problem it just means if you bring all your money home and you earn money over seas. that's good, one time deem
2:11 pm
appreciation so called intangibles and interest expense you are going to have to pay minimum tax of money shifted back to the united states. this is new and this is not good the business community is going to hate this this is one of the stupid things where they think they are to pay for it it underminds its territory a >> do not pay corporate taxes. i don't want an over sea minimum tax. y i don't want to tax rich people. just do this thing >> next time i want you to school me on territorial tax >> mr. kudlow. >> why do we need a vat? >> you want that, i am happy to talk about that. if you repeal the 16th amendmen which is the income tax then we can sit on this table and talk about vats all day long.
2:12 pm
just get rid of the income tax constitutionally >> lets do it. >> larry, it is good to be with you. nasdaq is an eerie month for investors but it has been anything but so far. >> les ths than two hours in it dow is up more than 4% what are the charts saying of the rest of the year our chief market strategist, what do the headlines say, there strazzullo >> look, you have to get below 2500 of the s & p before you raise a red flag i still think the good upside objective of the s & p, 2650 around there that would be a nice place to end the year and the dow some
2:13 pm
where around 24,000. even at these record levels, you have to be involved and i still think there is good upside >> you see another hundred plus points to go between now and year end i would like to put that chart up there and talk to me about the line that says fair value which is i think at 2,017,000 for the do 2,017,000 -- 2,017,000 on the dow. do i worry of what you describe as fair value? >> that's a good question, tyler. when luyou look at those charts what you see is the symmetry of the fair value area and the objectives in the dow, if you look at the rally off the march of 2009 lows that shows a tremendous amount of upside that targets 28,000. so the point of that chart is
2:14 pm
when you look to a major time frame here, the rally off the march 2009 lows, that time frame still has major upside and so the point is, a lot of people are worried about the market as it extended evaluations and etcetera, i think you need to be involved and of course, you are monitoring the downside and get below 2500, that was the target of october 2013 lows, be careful. otherwise, you still have good upside here and you still want to be long bill, it is good to be with you and thank you and appreciate it. >> my pleasure more than 45 states targeting nearly 20 companies in a drug fixing probe. many of them are getting hit, we'll bring you the latest top technology executives grilled on capitol hill talking about the 2016 election.
2:15 pm
under fire to on fire, the apple iphone 10 reviews are good and stock is up and is everything good here as it seems? wall street journalist will join us with her review, coming up. i can't wait for her to have that college experience that i had. the classes, the friends, the independence. and since we planned for it, that student debt is the one experience, i'm glad she'll miss when you have the right financial advisor, life can be brilliant. ameriprise a silicon valley server farm. the vault to man's greatest wonders... selfies, cat videos and winking emojis. speaking of tech wonders, with the geico app you can get roadside assistance, digital id cards... or even file a claim.
2:16 pm
do that.. yeah, yeah that should work. it's not happening... just try again. uh, i think i found your problem. thanks. hmm... the award-winning geico app. download it today.
2:17 pm
shares of mylan are down
2:18 pm
big. the president of mylan personally named in the latest complaint, meg tirrell is following this story >> that's right guys the expanded complain ads add 12 companies including lynett and the company found no evidence on the price fixing on the part of mylan. now, it is just a massive suit to read the filing and much of it centers around indian drug
2:19 pm
company, m-cure. >> stating that the two companies work together to keep prices higher than they should have been. there is a lot of alleged schemes going on in the suit which is 200 something pages long >> some of them involvedd antibiotics and big diabetes drugs, right >> yes that's right, a combination is one of themme a lot of things are in here. a lot of it is redacted. i asked one of his folks and staffers, why is there so much redacted here? there is an ongoing doj criminal investigation, what's behind those marks could jeopardize the doj's investigations they are not working together but over lapping inspection. >> meg, stick around
2:20 pm
lets bring in ronald gal >> maif you read through the indictment, and many of us have skimmed through it is this an over reaction on mylan's stock today? >> um, well, that's a good question i think to some extent a lot of folks expecting thoecem to havea couple oflimited distribution and generics and that mylan is walking to the sideline after this you are right, the lawsuit is primarily around one guy, jason malik, who's orchestrating a lot of collusions and talking to folks that he has colluded >> have you read it?
2:21 pm
>> so indictments and papers like this will always make things look bad. when you read it, what's risk is there to the companies that are named in the suit when it comes to the prices? >> there is something there. i am not sure every single company will stick and i wish the best to malik who i hold in high regards professionally. but, it is as small relative industry where people moving from company and company and i have been in some of these events where people meeting each other and people are trying to make their numbers and they're sitting over the same location, you know once this a while a conversation cross over is the line i don't believe there is a general generic. >> you heard it happening, ronny. >> reading the lawsuit, you kind of look at this and going yeah, you know, we are thinking of raising prices and okay,
2:22 pm
interesting. >> ronny, we got to cut you off. it is like this all the time we have breaking news. john harwood, breaking news from dc >> reporter: michelle, represent hensarling announced he's retiring from congress at the end of this term of course, he's been a crusader there to roll back the dodd frank financial regulation law that was passed under the obama administration he says it is now for him to spend a little time with family and make more money which is something he will be able to do when he leaves congress. probably also in some ways and illustration of how unpleasant servi services and congress have been. the over riding feeling for jeff is the end of his ten years as chairman and the opportunity to go out to do something when his
2:23 pm
kids are still at home >> i didn't hear you jonathan, some of the other folks that we have seen dropping out were going to face a tough racism i don't think hensarling will lose his seat >> so bob corker and hensarling, am i missing some names? there is a big turn here >> that's not just hensarling, people feeling more threaten in their districts and states, those are the people to watch for. i think jeb hensarling is in a different category lets talk about baseball
2:24 pm
astros are one game away >> just a few short year ago, they were on another kind of brink. that story ahead tech execs are set to be grilled on the hill. you cannot go on the hill without being grilled. sse potential fallout from th ruia meddling from the 2016 election that's on the agenda for our live report, straight ahead.
2:25 pm
2:26 pm
2:27 pm
hello everyone, i am sue herrera. here is your news update at this hour president trump is meeting with business leaders at the white house to discuss his tax reform plan and ahead of his trip to asia and he spoke about the opportunity to over haul the tax system >> i want the house to pass the bill by thanksgiving i want everybody to standby my side and before christmasi, you will all be standing in the room it will be the biggest tax event in the history of our country. a syrian man was arrested for allegedly planning a bomb attack targeting the biggest
2:28 pm
possible number of people. german officials say the 19-year-old was motivated by extremist, islamic ideology but there is no fixed links to any particular group once again the u.s. missed out of the top five. new zealand clinching the top spot for the second year in a row followed by singapore, denmark and south korea and the u.s. came in at 6th. >> michelle, back to you >> we got to do better second year running and we did not make it. you want to scare the analyst, ditch the fake blood and leave the jack o' latern at home >> these are the scary ones out there. the reason why we look at them because every time trades and investors think to pick the bottom, the stock goes lower >> which one of the stocks have
2:29 pm
a negative one year price performance. negative three months so authority, medium and longer term all in a down trend and of those stocks, how many are within 2% of their 52 weeks low. the ones that's hitting those marks on the way down. there is a handful of stocks out there. some of the big names in that list fitting that criteria including smuckers and nordstro as well. and alaskan airlines makes that list another 52 week lows today and shares of chipotle making that list as well if you take a look at these stocks, one that goes down and down, keeping on hits marks of 52 weeks low you wonder if investors are getting burned picking bottoms they still do try, though. game six of the world series is hours away. dodgers fans are hoping their
2:30 pm
team have one more trick up their sleeves. win or lose, this team had an amazing journey. jane wells >> reporter: hey tyler, a lot of money is spent here. check this out, what is this water from the sky it rained a little in la, that's very weird stub hub says the average price for tonight's game is 1300 in change and cheapest price is $450 >> that's a good value for a series this close. the dodgers owner have spent $3 billion first buying the team out of bankruptcy and five years of the league's highest payroll. it still blocks out most la you vooe viewers from watching regular season game. it is halloween, i have seen my costume from a woman
2:31 pm
she dicame to the stadium, la pumpkin and we'll see an astro fan showing up as a guy who grabs the home run dodgers' president ceo will joining us live on closing bell to talk, lapd is saying no mass and no weapons will be allowed >> it is been an amazing series. can you make sure it does not end at 2:15 eastern time [ laughter ] >> reporter: that's one thing to ask stan kasten about. it is incredibly exciting. the league is addressing next year where they can shorten the game the games are very long. >> the games have been very long >> tomorrow, jane, we got one of the onnewners on the show. if they win tonight, so scott is
2:32 pm
talking about the feds but it is interesting because if they lose, you have seen scott in person, i don't know if we want him on he's a big guy, he could be scrouchy >> he will be remote >> lets talk about the game instead. >> that's all, well, they got one more to do if they'll win. >> we love both. >> jane, thanks. >> everybody is a winner >> go dodgers! >> stocks are at a suspension high right now the dow jones and s&p 500 and nasdaq, all higher s&p 500 is higher than 4.5 points on this not so spooky halloween day. >> big tech is under fire. top executives of facebook and google and twitter and facebook are ready to grilled by
2:33 pm
lawmakers at capitol hill. >> we'll be live from washington haetd. ahead. but they're not what people really invest in. what people really invest in,a. is what they hope to get out of life. but helping them get there takes a pure focus. because when you invest their money without distraction, hidden agenda or competing interests, something wonderful can happen. they might just get what they want out of life, and maybe even more.
2:34 pm
2:35 pm
2:36 pm
you are looking at live pictures, top execs are set to testify of the potential meddling of the 2016 election. julia boorstin is joining us and kayla tausche is joining us. >> well, michelle, this is a hearing that's called working with tech to find a solution by now all three companies have published what they believe to be the scope of the foreign influence on their platform of the 2016 campaign. the tone of the hearing is key there is regulations called the honest act that's on file, a bipartisan effort to try to get more disclosure ahead of the 2018 campaign season will this be an antagonist ic
2:37 pm
hearing, that seems impossible to stem or will they be seen as allies of the government to try to solve the problem together. that's what we are going to be looking for this afternoon >> all right, kayla tausche, thank you. facebook and google revealing ads and content from russian sources during the 2016 campaign that were far more widespread than previously thought. julia boorstin is bringing you this part of the story >> more than half u.s. population voters may have seen these. it serves a content of 29 million people more than 11 million people saw the ads, liking and sharing and following those posts expanding
2:38 pm
of people who may have seen the content. these numbers are higher and as are twitter. twitter is saying more than 30,000 russian linked to accounts, generating more than 288 million tweets receiving about 288 million impressions. meanwhile, google will reportedly testify the internet research agency uploaded over 1,000 videos on youtube, drawing 309,000 views between mid 2015 and late 2016. all three companies are stressing how relatively small these numbers are compares to their viewer ships and they are working to prevent these kinds of interference. back to you lets bring in our tech,
2:39 pm
gentlemen, welcome and good to have you with us >> hello >> is this the day is when we'll remember when things change for google and twitter in washington >> yeah, i think it is a perfect question >> remember the big tobacco executives came down and raised their hand saying tobacco products are not addictive we got polling that we are trying to deal with survey monkey on showing that although people love tech companies, people are getting worried of how they train information and the influence they had >> the number that julia put forward there, some of them sounds very large and some of them are larger than their impact ultimate have be. of 120 something million people
2:40 pm
may have seen some contact may have seen seems a little squishy to me. >> these are massive platforms of so many people involved in and what a lot of people we interview, don't pay attention to these kinds of things how well can the leaders explain the platform to the public and lawmakers and regulators to put this in better context if they do a lousy job, it could be be an inflection point >> do you see it that way with respect to the stock of facebook which seems to be the one that was used the most and had the biggest, broadest reach in this case >> so the stock is not reacting to it. it tells you right now at least the professional investors and the reality is, did facebook break any rules? i think originally, what was the advertising and they saw that
2:41 pm
one with small but what about the content that was posted and that's a wider implications. then there is questions of where did that content go on top of it the good news in america is you generally you don't get in trouble of breaking rules that does not exist right now that's the case. going forward, how do you balance free speech but still help these platforms do what perceives to be the right thing for america. these companies and facebook and particular lives on advertising, what's the worst case scenario, regulations that could be passed that would hurt their revenue streams at this point. >> the political advertising was relatively small does it matt matter? you have to put a disclosure, and came from the pack the rules online are not as concrete as, for example as television do you make it illegal to police
2:42 pm
to accept money from certain sources but that's not the issue, right the issue of what they are saying is potentially russian splu influence forces putting their con at the present titent on. >> nick, we miss one massive thing. there is no departments or agencies could do the job. nothing. >> who could regulate? >> are they going to hire thousands of people? >> they're not going to get in trouble with rules because those rules did not exist. now the people that used these platforms realize there is no rules. so the te maybe congress says you got a person to look at every single one of those ads that would be damaging to their business >> and very expensive. >> absolutely. >> go ahead. >> nick and jason, thank you >> thank you >> the reviews are in.
2:43 pm
did apple make a phone of worthy of the hefty price tag we'll ask anjona stern, she's got her hands on the iphone 10 "power lunch" will be right back
2:44 pm
2:45 pm
2:46 pm
just two days left of the reviews of the iphone 10 you know everybody is saying how great it is joanna what's the worst thing about it? >> what's the worst thing about it >> why not fall into the stereotype >> the worse thit thing since ie not fly yet? why does it not do something miraculous honestly, it is an iphone. it is the really good iphone it is definitely how i feel about it i only had it for 24 hours apple did a staggering approach this year. so far, so good. the biggest question many people have had is the facial recognition. i think it works well. it works in the dark, i have done a bunch of tests and it works well in the dark and works
2:47 pm
well when you put on glasses and in sunny situation, that was one place where i had a bit of a hiccup and i had to redo it a few times. those everyday thing is pretty good >> i thought the criticism was the price. >> when thit came out and they announced it -- $1,150 is where you want to be at. we have argued and said on the show, price does not matter anymore. the price tag is what you are paying >> you are buying a monthly payment, right >> the monthly payments is one thing. apple has the plus model out now for four years and that's close to a thousand dollars. most people think okay the phone costs $620 here in tuu.s., we stop thinking of phones costing $200 >> i think the $1,000 is no t the biggest sticking point of the phone. >> joanna, we were showing
2:48 pm
videos, did you have makeup done for halloween and i saw you were holding your phone against it and another phone. what did you do to test this thing? >> i did four tests yesterday and again, i got the phone for 24 hours i had a mask made for my face. all it takes is a real quick glance of your face and it logs you in that's very good engineering on apple's part that there is a lot going on here. the mask did not work. it was a full carbon copy on my face now and it did not look like me when we put it on someone else it looks like freddy kruger. >> you take that face that was made and put it on another person to see if it works. >> did it work
2:49 pm
>> how about the mustache, did it work? >> probably because it blocked my mouth or because i did not grow my mustache overtime which i am not sure i can do, i will get back to you in a couple of years for that >> what did work were triplets i found identical triplets and also one in a million chance apple says there is one in a million chance that somebody else will unlock your phone. those chances are much greater when you have an identical sibling, twin or siblings that looked similar >> did you fool the phone or not? >> oh, it did. i have not slept much for the last 24 hours >> let me ask you a question that occurs to me. what if i don't want to use my facial recognition and i want to hand the phone to brian, would
2:50 pm
you call my house and tell him blah, blah, blah >> yes, the same situation that you would have with touch id and you would tell brian a password. >> and so how do i get to that >> you can swipe, if i >> you can just swipe, if it doesn't log you if with the face, it will prompt you to put in your password similar to touch i.d., if you pressed touch icht i. d. a couple times, it would default. >> the neighbor girls next door, my daughter's best friends, known them for eight years, i can't tell them apart. they come to my house, which one are you. >> i have triplets in my office. >> i'm not kidding, i want to see if i can fool the iphone x. >> that's what i did with the triplets, i could not tell the difference they each wore different colors. there was a blue, a red and a green. i called them by their different colors. >> we have to leave it there on
2:51 pm
their christmas colors thank you very much. retail is on track for its worst month in more than two years. is it meti to go shopping in the tech sector? sorry, this sector we'll ask two top traders. stay with me, mr. parker. when a critical patient is far from the hospital, the hospital must come to the patient. stay with me, mr. parker. the at&t network is helping first responders connect with medical teams in near real time... stay with me, mr. parker. ...saving time when it matters most. stay with me, mrs. parker. that's the power of and.
2:52 pm
2:53 pm
any steign of a turn for
2:54 pm
retail let's trade it on trading nation xrt with chad morganlander and craig, i'll start with you, technically the chart looks like, i think the term is terrible any sign this is going to turn >> brian, that's a great technical term for this. when you look at the xrt chart, see it looks like a multiyear head and shoulders top at this point in time, brian, it looks like you're making that right shoulder, a break below 38 would suggest that, perhaps, we're going to start a whole other leg lower. size of the head and shoulders top would suggest that you could see 12 points, maybe 10 points downside from here you don't have good support until 30, 32 i don't want to be buying the xrt at this point in time, brian. >> retail, chad, like some sports teams can be overrated. the xrt has been tough not all retail stocks are created equally. avoid the etf and buy walmart? >> yeah, i would avoid the etf all together i think the amazon effect has been massively disruptive and
2:55 pm
deflationary to all retail i would look at three companies. because the thematic is the growth of consumption and we think consumption's quite healthy. so look at walmart, for example, we think the transition to online's going quite well. valuation makes sense as long as you're looking three to five years out. starbucks as well, as well as nike we think online, there's a scene of opportunity there all three of these companies are growing, profitable, well capitalized with growing dividends. hence the reason why we're recommending them today. >> yeah, not all etfs are created equally. craig and chad, thank you both very much. for more trading nationing go to our website, which you know by now, check please" is next. >> now the latest from and a word from our sponsor. >> a double bottom is a chart pattern that suggests the down trend may be ending and ready to reverse. sometimes called a "w" formation because it looks like a "w," a
2:56 pm
double bottom occurs when prices form two distinct lows on a chart around the same level. traders often view a break of the highest high in the formation as a bullish signal. hi, i'm the internet!
2:57 pm
you know what's difficult? adulting... hi, guys. i'm back. time to slay! no,i have a long time girlfriend. you know what's easy? building your website with godaddy. get your domain today and get a free trial of gocentral. build a better website in under an hour.
2:58 pm
check please. >> check please. shares of netflix, off more than 1% julia boorstin reported earlier they're going to suspend production of the last season of "house of cards. this is a big deal because to the degree that you believe people were sub jiscribing to netflix because of "house of
2:59 pm
cards," because of the actor involved there being accused by a now adult, former younger person, of sexual advances that weren't appropriate. hurting the stock. kevin spacey. >> "stranger things 2" is going to reel them right back in in some ways. >> good. >> "blood line" ended but i think it's a fantastic show. netflix will be okay you know who will also be okay apple. >> you think in. >> i was on my mac book with cnbc up and had my phone i'm going to make a prediction, within two years you'll see a $ $1,500 iphone. it will be worth it. people will pay it the monthly payment, tyler -- >> i asked alexa last night, why is your name alexa based on the library of alexandria which had all the knowledge in the world i asked siri, why are you named siri she didn't know. >> after tom cruise's daughter. >> tomorrow is going to be a big day. >> is that siri? >> let's see i lost my train of thought.
3:00 pm
>> tax -- >> tomorrow. and the fed tomorrow it is a big day. it is a cnbc wonk fest we're going to be here all day picking apart that tax bill, number one we will pick apart the fed decision it will be one of the last presumably that janet yellen presides over. >> thanks so much for watching "power lunch." >> "closing bell" starts right now. ♪ and suddenly to my surprise ♪ he did the mash ♪ he did the monster mash ♪ the monster mash ♪ it was a graveyard smash note >> did you do this >> i didn't. but i would have if i was given the choice i love this song you can only play it once a year right? >> i think that's already enough. >> i gather you don't like this song. >> it takes many e back. >> come on, it takes you back? >> i'm dressed up as a ghost, though welcome to "the closing bell." i'm kelly evans at the stock exchange >> i love your


info Stream Only

Uploaded by TV Archive on