>> constellation brands, stz i'm buying that today. >> mr. pete. >> applied materials hit new highs today, going to go higher. watch this name. >> we'll watch. we have mixed market picture. "power lunch" begins right now. >> halftime is over. "power lunch" and the second half of the trading day starts right now. >> scott, thank you very much. lockheed martin believes demand will be extraordinarily high for the new f-35 fighter jet. the company is finishing work on the hunt, they're laughing over there at me. they're finishing work on the 100th plane this week. we'll look at lockheed's stock up 40% in the year. will the f-35 take it to the next level? should there be a rear view camera in every single new car sold in this country? congress said yes, in 2008 but it still hasn't happened. why not? the department of transportation making a move on this today but critics say it's not fast enough, there's serious and they're suing.

days after that shopping mall massacre, security officials meet ehere in the usa. what can be done to make americans safer when we shop, when we send our children to school, when we're out in public places. we'll it take you inside the security threats we all face later this hour. first to sue. >> and we start with breaking news from washington, ty. the senate moving forward after senator ted cruz, 21-hour 19 minute run speaking on the senate floor in an effort to defund president obama's health care plan. john harwood is at the white house with the latest. john, over to you. >> sue, ted cruz has put away his copy of "green eggs and ham" done talking. the senate has begun the process of voting which by all indications is going to have a majority or a super majority, more than 60 votes, to take up the bill that would extend government funding and harry reid will then be able to strip out the provision defunding obama care with democratic votes. that's going to play out over a

series of days. and harry reid was complaining on the floor after ted cruz finished speaking that this whole thing has been a waste of time. here's the majority leader. >> it has been a big waste of time. the government is set to shut down in a matter of hours. just a few days. the government will close. and it's a shame we're standing here having wasted perhaps two days. >> reporter: now we've also had since harry reid talked, john mccain went on the senate floor and took a shot at ted cruz for having compared the people who stood by while obama care passed to nazi appeasers. i have to say, any reasonable person would think that is an insane analogy. in any case, we're now going to have the vote and after we get through that vote, we will have more talking for at least a day or two and then it will be up to

the house and speaker john boehner to decide whether or not they're going to have a clean extension of government funding or send the bill back with a new condition for the senate to deal with, guys. >> what's your sense of that, john? the markets are looking for some clarity on this. understandably so. given the ac cri moweny between the two sides in this whole debate. is your sense they will work it out in time to meet the deadline or not? >> yes. i think so. based on conversations with both republican and democratic leadership aides in the congress. i just got out of a meeting with a senior white house official. that's their expectation that the house knows that a government shutdown would be politically damaging for the republican party and so that ultimately when that bill comes back, whether or not it requires another round of ping-pong or not, it will be a very short time before they pass that extension of government funding. then we get to the tougher fight over the debt limit which is going to be difficult. >> yeah. stay with us, john. we need to go to rick santelli in chicago. because the five-year notes went

off the board. how did we do? >> you know, c-plus. everything about this auction was pretty much mediocre. i take that back. it was pretty much average. the ultimate yield, 1.436. where is the wi? well, we could have a crayon and say 43.5 bid offered at 143 or get real and say maybe it was at 143.3. it tailed just a little bit. the bid to cover pretty much maxed ten auction average as did most of the other internals. we give it a c-plus. i don't know that i can give washington a c-plus. john harwood still there? >> he is. >> i'm still here. >> you know, john, over the years, you've written some things that i really like and one of the things you wrote back in what was it, 2011, was frugality is a virtue but politics rule a debt limit fight. you talked about how barack obama voted against raising the debt ceiling and when called on the carpet on it, here what's you wrote in your article.

you said he acknowledged it was a political vote. i listened to you describe somebody who seems to just rub everybody the wrong way in cruz. forget whether he's right or wrong or changes anything, and the "green eggs and ham" and anybody that watched mr. smith goes to what ug when you're on a 21 hour run you read anything from the bible and constitution but don't you think hypocrisy on the president or many republicans as well, the way they flip flop based on who is in the white house don't you think that is a horrible situation, john? >> yes. look, everybody's played politics with the debt limit. it's been the thing nobody wants to vote for. a responsibility of the majority to handle. and that's why it's always been raised. >> i understand why they do it, john. why doesn't it bug you more than "green eggs and ham." why aren't you rallying how the president and many republicans have switched their votes depending on who is in the white house. if it's only a political vote isn't that a huge story that nobody seems to ever really harp

on? the president said it was unpatriotic when he was asked to raise the debt ceiling under "w." >> well, it's tough to make any sense out of washington these days, rick, i think. >> i think people have raised the point about what the president did when he was in the senate and what the members of both parties have done depending on who is in the white house. that point has been made. what's different this time it does appear you have a more serious attempt to hold out for leverage and things that you can't get through normal democratic means in a way that is more serious and more threatening to the economy than we've seen in the past. >> you wrote articles about how many weird things over the last 100 years have been tied to debt ceiling. this is just par for the course of politics and let's call it for what it is. it's not -- >> i don't think it's par for the course. st >> it's about a power struggle. >> the credit downgrade was not par for the course in 2011. >> moody said this activity most

likely won't result in a change in their triple a. >> thank you all very much. appreciate it. >> let's go to dominic chu for a market flash. dominic. >> blackberry is continuing to sink. bernstein, analysts saying the fairfax financial $4.7 billion takeover of the company, the proposed one, is unlikely to close. as a result, it has increased conviction in its under perform or sell rating. the proposed bid $9 a share. now the stock well below that mark. >> fascinating. thank you very much. the dow and the s&p down for four straight days. will the markets snap their losing streak today? here's where we stand right now. the dow industrials off about 2%. no excuse me down about one point. looking at the wrong chart. the nasdaq composite higher by 10. small cap stocks continue to lead this year. another new all-time high second consecutive day for the russell

2,000 up 27.25% so far this year. the little guys are leading the way, bob pisani. >> having fiscal fear fatigue here. everything that john harwood was talking about. take a look at the s&p until a short while ago down five days in a row in the s&p. this is one of those light volume, low volatility pullbacks we've seen this year. february, april, august, we had these declines. the s&p is only 1.6% from its historic high, just last wednesday. so remember that folks. the one thing that worries me more is that pullback in the ten-year yields down 10 out of 11 days and the stock market isn't really responding. usually that's good news for stocks. weak economy, not great for earnings. i think that's the concerns that i'm hearing overall for the next couple of weeks here. normally low interest rates good for interest rate sensitive sectors but not moving and haven't for days now. the home builders up a little bit. utilities not moving at all. the one sector i'm glad to see up today is financials. we had a real problem in the

last few weeks with financials underperforming the market. that's been going on since the middle of august. today they're to the upside. back to you. >> bob, thank you very much. let's take a look at jc penney, shares suffering their worst two-day drop in more than six months. they have been down for six straight days and the most short interest of any stock, any stock in the s&p 500. shares are edging now towards $10, down $1.55 today. that stock down more than 45% so far this year. lockheed martin saying demand for the company's f-35 fighter will be sky high. the stock up 14 cents at 128.27 and year to date up about 40%. dominic chu is on the case. >> well, let's talk about this. big defense contractors around the world are locked up in a dog fight when it comes to air superiority. fifth generation fighters with stealth technology, that's what lockheed has in its f-35, a plane designed to replace the

f-16. now the uk, canada, norway, australia, italy, the netherlands, denmark and turkey all eight of them have made commitments to buy these jets. japan and israel are waiting in the wings as countries placing orders when the jet is made available. singapore also being talked about as having interest as well. now lockheed expects dozens of international orders for this jet. other defense contractors like boeing trying to sell their wars but running into demand issues. yesterday the government of south korea nixed a bid by boeing to supply its f-15 eagle jets because south korea wants next generation fighters, the 5gs despite the added cost. the u.s. will be competing with our big weapons powerhouses, think russia, china, trying to ramp up fifth jen rating jet production. ramping up their efforts to develop these fighters and year-to-date, check out the stocks because boeing and lockheed are beating the s&p 500. boeing up 58%, lockheed close to 40%. so when it comes to the air

superiority it's about that 5 g jet. >> the next generation. >> sue had a question about a story you were reporting on, the blackberry one. >> dom, bernstein said they don't think the deal is going to close but i wondered if they listed why they thought it wasn't going to close? what are the complications given the fact that the guy behind fairfax is blackberry's biggest shareholders. >> oftentimes when it comes tofy nancing things it's about getting the money at the right rate and people who want to lend you the money. there is this thought among analysts, perhaps not just at bernste bernstein, that trying to secure financing for this deal may not be that easy. we heard early when the news broke that bank of america, ml merrill lynch might be one of the markets. whether these guys can obtain the financing is going to be a huge deal. almost like buying a house. if there's contingencies you got to know you can lock up the financing or the odds go down and that's why they don't have that conviction.

>> bleeding a lot of cash so if they're bleeding the cash they can't up the rate to get the financing. >> there's -- it's all kinds of underwriting aspects in this process. >> the stock going down about another dime just since we made that report. >> sure. >> a few minutes ago. sue some. >> let's talk about homes. you gave me the perfect segway. sales of newly built homes were higher in august but not nearly as high as a lot of the optimism it might suggest. diana olick on our realty check. >> the sales numbers were 8% higher month to month. that was a beat on the street for the month. it's still the second lowest rate of the year. take a look. at an annualized rate of 421,000 in august, we are coming off that huge drop in july which was, of course, revised lower. that was likely due to the spike in mortgage rates. remember, these numbers are based on contracts signed during the month, not closings. we are still well below the first three months of the year when rates were near record lows. now to prices.

the home builders continue to raise prices. we saw it yesterday with lennar and kb homes, prices up dramatically. overall nationally, the median home price in august was 1% from a year ago. the average was up about 4% because builders are focusing on higher-end homes. pulte told me. they say the first-time buyer has vanished from the market. one more note on mortgage rates they did come down last week and both re fy and purchase applications rose. on a monthly average applications are still way down. sue? >> diana, thank you. up next the stocks wall street are shorgts the most. the list for you. safety in the usa. scott cohen attending a key security conference in chicago. >> sue, we're on chicago's famed magnificent mile. we've just come from a conference not far from here where 20,000 security experts are looking at ways at keeping shopping areas like this safe.

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welcome back to "power lunch." i'm john harwood at the white house. the senate is still voting but it's overwhelming. we've got more than 90 votes in favor of taking up this bill that would extend government funding it includes the obama care provision, defunding provision. that's going to be taken out. interestingly, at the last

minute, ted cruz appears to have shifted his own stance on this, in order to accelerate the process. he's tried to get harry reid to agree before this vote happened to have a vote not take place on sunday, but earlier than that, meaning curtailing the filibuster. why? because house republicans want more time to potentially be able to add an amendment kick it back to the senate without being right up against the shutdown deadline. interesting twist at the end here, but clearly this bill is moving forward in the senate. the only question is, when it gets back to the house, guys? >> john harwood, thank you very much for that update. dominic chu has a market flash for us. >> thanks. i mean check out what's happening because the fda is strengthening warnings on two blood cancer drugs that they may activate the hepatitis b virus in patients. these warnings affect glaxo smith clooins and roche biogen's. keep an eye on those stocks. >> thank you very much. take a look at the top five most

shorted stocks in the s&p. number one, jc penney, perhaps not a surprise. 33% of the outstanding shares are held short. followed by cliffs natural with 32.3% short interest, u.s. steel, pite neny bows. see how they're fairing, green in the names with the exception of jc penney down almost 13% on the trading session. seeing lows not seen since 2001. stormy seas for carnival cruise lines. the operator falling for the second straight session after reporting a 30% drop in third quarter earnings and lowering its outlook for the current quarter. several brokerage firms downgrading the stock. the stock down about 10% year to date. a nice pop for men's warehouse shares. the retailer ceo speaking exclusively for the first time to our courtney reagan standing next to me following a high profile clash between him and the board.

what did he say? >> interesting stuff. the men's warehouse founder george zimmer grabbed headlines this summer. the ceo is focusing on growing the business. looking forward, discussing how the retailer is positioning itself against consumer head winds and attracting the key millennial shoppers. >> more in just a second. also ahead, the power pitch. >> coming up, power pitch. start-ups give us their 60 second pitch. >> my name is jacques, i'm ceo and co-founder of empowered. >> insight into the fast paced world of venture capital. >> what's your competitive advantage. >> how do you access the markets. >> do these founders have what it takes. >> if you are in or out. >> stay tuned to find out. citemt but tracking all the action and hearing everything from our marketing partners, the media and millions of fans on social media can be a challenge. that's why we partnered with hp to build the new nascar fan and media engagement center.

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[ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all on thinkorswim from td ameritrade. ♪ biden,. time for the power pitch where one delivers his 60 second pitch and our panelists decide whether he or she has what it takes to become the next big thing. >> i'm mandy drury in today's power pitch we have a start-up with a mission statement that could simply read let there be light. jacques fill leap is the co-founder of empower, a company that produces a futuristic light that runs on solar energy. he had 60 seconds to shed some light on his big idea so let's take a listen. >> my name is jacques fillleap.

i'm ceo and co-founder of empowered. we're a renewable company foc focused on doing good and well. our first product is the lucy lantern. she fits right in your pocket. solar powered. charges in eight hours and provides six to 12 hours of light. she has three settings. this is the dim setting, bright, and flashing. when we first started, we were focused on the developing market. over 3 billion people globally all over the world need a lucy lantern. we then found out that domestically, the need and the interest is just as big. we've gone from 0 retailers to over 50 in the last four to five months alone and she's used for camping, emergency preparedness, night lights for children. it's tremendous. the same is true for other developed marketing. inninvesters keen on our business. we're rounding out a 1.5 million round now.

we would love for you to get involved now. >> jacques fillleap is on the right side of our screen but can hear us but can't react yet. charlie, proud of starting his firm, brooklyn bridge ventures worked at union square ventures and first round capital. in silicon, an antivist capital firm, counts billionaire philanthropists like john door and shawn parker as investors. an early backer in yammer bought by microsoft. all right. let's huddle up on empowered. charlie, what did you think about this sp. >> i'm a user of the product and so i think it's fantastic. my big question as a potential investor is how do you access these markets? >> what about you? >> i love the product. i think it's brilliant he's using readily available off the shelf led and solar panel components that are cheaper and getting efficient by the day.

i have concerns about how a small company manufactures and distributes a product like this. >> i'm interested in what other products they have in the pipeline. you can't put all your eggs in one basket. it's a great mission step. jacques, come on down, you're in the hot seat. time to get gently grilled by all of us. mahmoud the first question to you. >> what's your competitive advantage. >> we're not the first solar powered lantern in the market but we have a good team that has been very successful in various businesses. each of the people we have leading various verticals has done it. we understand what it means to design something that's elegant and useful across multiple platforms. >> one of the things i really like about this product is, what it can bring to these international markets. how do you access these customers? i mean part of the problem is they're in really remote places. >> we have companies whether it's in japan, angola, ireland,

they see our product, the market, they have customers that buy other products an want to integrate this because they see it superior to anything else they have. in the u.s. we have gone from 0 to 60 retailers in the last six months. >> how many are you selling a month and how much money are you bringing in. >> we've sold about 100,000. back orders for about 100,000, maybe more. we feel as many as we cap produce we can sell and we're trying to augment capacity to 200,000 a month within the next two to three months. >> explain how this can change the life of somebody in a developing country? >> there are over 3 billion people who need our product. they're off the grid fully, on the grid but can't afford it or on the ground but have intermittent access to lec tris. i generally using kerosene. they are spending anywhere between 5 to $20 a month on gas for their lamps. as long as we can provide our product for within that, they're

saving, you know, $100 the first year. for people who make 2 to $3 a day that's significant. >> you heard what jacques fillleap had to say. we need to find out if you are in or out on empowered. you first, charlie. >> i have a lot of questions about the costs to access a market. so i'm not sure how big this can get and how scalable it can be. this is something that should happen and should get to market so i think i would be in. >> what about you, mahmoud. one in. >> larger players have a lot more scale in driving the costs down and finding ways to distribute their products widely. based on existing relationships. i think it's really difficult to compete and succeed in a market like this. i would like to see the company win, but i'm out. >> i like the product. i would like to obviously see them bring out more products to diversify their revenue streams. i'm going to be an in. jacques fillleap, two ins and one out. >> i'm excited.

i was just happy to be here with you to share what we're working on. excited about our business and product. i look forward to hopefully staying in touch with all of you. >> thank you for joining us today, jacques and our panelists for talking about empowered. that is today's power pitch. >> all right. you heard what the panel had to say about empowered. but now we want to hear from you. logon to powerpitch.cnbc.com and leave your comment or follow the comment on twitter with the #power pitch. >> shares of men's warehouse rallying up more than 4%. courtney reagan speaking with the ceo in his first interview since the company parted ways with the founder and face of the company. courtney is here with more on her big interview. very interesting. >> it was. men's warehouse had a second quarter unlike not many other apparel retailers, 28% drop in profit. ceo doug ewart is focusing on

the business a's positives. >> there's a lot of talk right now about the macro conditions and impact on apparel retail right now. i would point to the fact we think we're doing better than most of our competitors. we have strong brands. we have a number one market share positions. we're confident we're going to work through these headwinds. >> and back to men's warehouse rents more tuxedos than anyone else in the u.s. e-wert believes that business is a gateway to capture the millennial consumer. >> we rent over 3 million tuxedos a year. the average able is 27 years old. we have this great mag nant to attract millennial age customers into our stores and now with slim fit products and denim, designer denim, we have great retail products that we can convert these rental into retail customers and see our business kind of bifurcated into two

segments. >> he wouldn't elaborate on the plans for men's warehouse k and g business. the company has received offers and he's reviewinging them. they see the opportunities to add more full line stores and also testing outlets. we could see that in the future too. >> thanks. appreciate it very much. >> ty, over to you. >> all right. court, thank you very much. a look at the closing trades in the metals for this wednesday, september 25th. and there you see gold up $20 an ounce or about 1.5% at 1336.30. silver 2187, up about one and a third percent and not sure what we were showing you there, but copper higher by a half percent at 3.27. to the bond market now, rick santelli is tracking the action at the cme. >> rick? >> the five-year auction wasn't bad like yesterday's two-year auction wasn't bad. the market you can see looking at intraday of fives have been

lower. bigger chart hovering near the lowest yield closes in about six weeks, little over six weeks. most of the action in the yawn side of the dollar today. that's been an old record we keep playing over and over, you can see how significant it is. we are close to challenging fresh lows back to february. back to the gang. >> all right. thanks, rick, very much. back in 2008, president bush signed a bill into law requiring all new cars sold in the u.s. to be equipped with rearview cameras, but five years later it has yet to be implemented. today a group of safety advocates and parents who unintentionally hit their children when backing up are suing the department of transportation to put that law into effect. the non-profit public citizen is representing that group, filing the lawsuit. joining us from washington is joan claybrook, president emerry tis of public citizen and former

administrator and with us cnbc's auto reporter phil lebeau. joan, i will start with you. i was shocked by the fact that each year, more than 200 individuals are killed and 18,000 people are injured in these backover crashes. >> well, that's true. and it's very sad and it can be remedied. and there is a very obvious system which are backup cameras and they're already in the marketplace. the industry has produced them. they work beautifully. the public loves them. yet the department of traps portion even though it's been told by the congress to issue a rule over two years ago, to require them on all cars, they have not done so and they indicate they're not going to act until 2015 and so we felt we had no choice but to sue because the law has been unreasonably delayed. >> phil, a lot of new cars that you see out there do come with those backup cameras already, but not all of them. >> not all of them. it's prevalent right now.

that's what's frustrating not only the groups suing the d.o.t. but the public when you bring this up. everybody is saying the technology is out there, it's prevalent, it's not as though it's only one type of system that can be used, why isn't the d.o.t. saying you know what, let's go forward with this, it's been approved, supposed to become the law we should be moving forward with it. that's at the crux of the frustration not only for these consumer groups but for the broader public when they ask why don't all vehicles have backup cameras. >> joan, we're going to have to leave it there because we've had so much breaking news but we will follow the suit and its progress and have you back very soon. thank you so much. >> thank you very much. >> phil, thank you. this is the topic of today's yahoo! finance camera question. we would like you to weigh in. 41% say yes. safety first. 31% though say no, it's too expensive. 28% say it should depend on the car. very interesting. ty, over to you. >> all right. thanks very much, sue.

you can't afford to miscnbc. we'll take you inside the secret lives of the super rich at 9:00 p.m. eastern time. robert frank joins us for a sneak peek taking us on a tour of america's richest town. we'll tell you where it is after this short break. meantime, though, take a look at the dow. it is taking a hit. down 57 now at 15276. this happening just in the past couple of minutes. we'll be checking in down on wall street to find out exactly why. could be walmart, which is oshly a dow constituent and down by about 1.50. we'll be right back. the american dream is of a better future, a confident retirement. those dreams, there's just no way we're going to let them die. ♪ like they helped millions of others.

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welcome back to "power lunch." a developing stock story involving the worl's biggest retailer, walmart. the shares have been lower most of the session but there is a report out of bloomberg now that company again walmart may be cutting back on orders with suppliers as inventories start to build. you may remember just in last month's report earnings report that is, tyler and sue, that walmart cited some of those

inventory bills. there is a concern building and one more retailer adding to it that the holiday season may not be shaping up with the kind of demand some retailers had expected. >> i get that one alone would not be sufficient to drive the dow down 60 points. very steep drop. in other words, walmart's decline, i one ker how nike is doing and whenever walmart sneezes a lot of other retailers and consumer products companies, they get even sicker. there's a look at nike down a lot. >> this is all about, guys, right, the health of the american consumer. we know with a lot of these names it's going to be a barometer. every one of these data points whether an economic release or any kind of earnings report, from a large bellwether retailer will give us an indication of how strong and how healthy the american consumer is. remember they represent about 70% of the u.s. economy. that's why it's huge. >> keep in mind there's been discounting by k mart and discounting by jc penney and

discounting by retailers because we're getting a lot of pressure on my part because we're getting close to christmas. all we keep hearing about is the countdown for christmas is on and if they are signaling this may not be a healthy holiday season or as healthy as we think it might have been, that's not good news. >> no, not at all. one more thing to watch out for is these themes developing. it's all about the layaway programs for the lower income shoppers, that's big as well this season. >> dom, thank you very much. switching to the other side of things, the very, very rich, this is must watch tv tonight on cnbc. the secret lives of the super rich. the guy with the best beat in the building, our wealth editor robert frank here to take us on a tour of america's most magnificent homes. >> yeah. we're going to tell you about a town, not going to tell you where, but it's got more private jet traffic than any place in america and the average home price get this is more than $6 million. we'll take you to the high life literally when we come back.

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that horrific and deadly terrorist attack on a shopping mall in nairobi, kenya, raising questions and concerns about the safety of shopping malls in other public spaces and places here in the u.s. our senior correspondent scott cohen has been speaking with security experts at a security conference in chicago and getting a firsthand look at tools that can be used to fight terrorists. scott? >> hi, tyler. the building behind me is water tower place, an iconic eight-story indoor shopping mall in the heart of downtown chicago. and we can't shoot video in there but we can walk in off the street, there's no armed guards at the entrance, but there are a lot of cameras and clearly they are on high alert. nonetheless, no matter how secure a mall is in this country, the scenes from inside the westgate shopping mall in

nairobi kenya over the last few days are chilling. gunmen burst into apparently two entrances of the mall, killing dozens of people, holding the mall for days, and -- in a very upscale, high-profile public place. security is a $350 billion industry and mall security is front and center at this annual conference. the 2013 conference in chicago. some 20,000 people are here looking at all of the latest but some of it comes down to human factors. we talked to one of the leading companies that supplies mall security guards. no, they do not like to be called mall cops because they are a lot more sophisticated new adays. the company is in regular contact with the department of homeland security. they say the situation in nairobi was a huge wake-up call. >> we're doing everything possible. i mean we're sending out the intel bulletins we're getting from the dhs and we're trying

to, you know, heighten the awareness of our officers. it's stuff they're trained to do on a daily basis. >> but here's the technology that's now coming into play. the cutting edge now in video surveillance is not just the pictures where you can look at every nook and cranny of the mall, but also analytics that will let the security officers analyze patterns. >> i can look directly into the video that caused those three events at that particular spike. that might be a number of people milling about where they shouldn't, it could be people going through a door the wrong way, any piece of data in my system can be now visualized, represented and is showing me the pat thtern that could allow to act in ways i might not otherwise have been able to do. >> here's what's chilling. according to the security officers we talked to, a determined terrorist group that

wants to get into a mall in this country is going to do it. a lot comes down to the shopper. when you go to your local mall this weekend or over the holidays, they say, have an escape plan, have it in the back of your mind what you would do if the worst happened. sue? >> actually, i'll pick it up, scott. thank you very much. scott cohen reporting from chicago. amazon's ceo jeff bezos ramping up his battle with apple unveiling a higher-end kindle product. will the strategy work. bezos spoke to john fortt about it. we'll tell you about that in a bit. mine was earned in djibouti, africa. 2004.

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all right. welcome back to "power lunch." we're following a big developing stock story in retail. walmart lower on reports it's cutting orders to combat rising inventories. also check out what's happening with other stocks like costco, target, other big box retailers moving down in sympathy as well here. also the dow check out that overall because the walmart is, of course, a member of the dow helping to drag that lower and check out what's happening with ten-year, the ten-year at least on that side of things check out what's happening there because we are seeing a move in the ten-year u.s. government yield and moves over there on the treasury side as well. take a look at that. walmart a big deal here for the

markets. >> that is the low of the day for the ten-year as people move out of the equity markets and into the safety of the bond market. thank you very much. cnbc is going to take you inside the secret lives of the super rich tonight at 9:00 p.m. eastern time. it's obviously a very exclusive world filled with vast fortunes, extravagants and a cast of very ultrarich characters. and our wealth editor robert frank got a chance to interview them and talk to them and he's got a sneak peek taking us for a tour of america's richest town. hi. >> hey. that's right. it's aspen, colorado. real estate is booming there. we went to the largest home, called the ski home. the owner doesn't call it a mansion, he calls it a lifestyle compound, which is one reason it may be listed for $39.7 million. take a look. >> there is no humidity.

>> right. >> is is our humidifier. 30% humidity. our lap pool, hot tub, our humidifier. ♪ >> so wait a minute. this looks like a beautiful living room but i see three cars in here. >> well, let's the cars' living room. this is my cars, they treat you well. this is one of the main features of the house. garage opens up. you drive in, land on the turn table there. spin the car around. until you get to where you want then just back into the place. >> actually that house is cheap compared to the most expensive home in aspen, $65 million house. 876 acres, that's bigger than central park, the house 18,000 square feet. a spap. they built their own sandy beach

outside, indoor outdoor pool. each tim ber had to be picked out and flown by helicopter from british columbia to put in the house. amazing houses. the best part, meet the owners, very rich characters. >> i can't wait. 9:00 p.m. eastern time, robert. i've got the popcorn ready. >> thank you. >> see you then. >> all right. must-see tv, cnbc secret lives of the super rich premieres tonight at 9:00 p.m. eastern time. can't afford to miss it, right, ty. >> thank you very much. we are going to take a quick break. with the dow down about 70 points on this walmart news that maybe they're going to pull back on some orders. that is pulling down some other stocks in the retail area. along with it. we're watching that one. we'll tell you more after this quick break. [ tires screech ]

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>> we're watching the dow jones industrial average right now which keep in mind has been very jittery because of the situation in washington which has been very unsettled over the debt limit and the continuing resolution and now walmart seems to have thrown a monkey wrench. the dow down 75 points. walmart down on the trading session. basically there was some talk in

the market on the fact that they were cutting orders and walmart has been talking to cnbc's courtney reagan and she has the details on what they told her. walmart off 2%. >> i just got off the phone with walmart spokesman dave tollver and dave told me the headline we have been bringing about walmart cutting orders is misleading. these are his words. he says walmart has hundreds of categories and they're constantly changing what orders that they make more of, what orders they actually place less of. this is a dialog that happens with suppliers on a constant basis to manage the appropriate inventory levels. he says there is nothing new here in this story. no one should be concerned about what walmart is doing with its inventory levels at this point. >> court, let's put up the stock. i was watching it on our retail board and it is bettering its position. it was down almost 2%, better than 2% on the trading session and it has cut that

considerably. you can see the spike on the right-hand side of your screen with the chart. dom, i think you're in things conversation as well. it goes to show you the razor's edge upon which this market is trading on given the fact that we're getting into the important retail christmas holiday shopping season and they're watching for any headline correct or not correct. >> that's right. overall, sue, what you're talking about is a market that has a lot of concerns, not just on the macro economic side of things. we have to look at what's happening in washington, d.c. like you said with what's happening with the continuing resolution for the budget agreement. we need to know what's happening again with the debt ceiling. all this plays into what's happening with the markets. when it comes to the micro economic, that's where some investors had a little more concern. are there company specific sisters on the micro level that may indicate larger problems with the economy. walmart telling courtney this is not an issue overall and the headlines misleading, the market

reaction in other big box retailers tells you how important the retail sector is, especially for this all-important fourth quarter, something courtney is following up on. >> let me probe a little more. calling a story misleading is not exactly the same as disavowing the story and denying it's true. but follow my thinking here. your source told you that walmart may be adding or subtracting from orders at any given time in lots of different categories. so explain what you think is going on here? >> right. exactly, tyler. that's what happens at retailers all the time if you think of one like walmart that has hundreds of different categories. at any one time or any one day, walmart is going to make different decisions based on what customers are buying or not buying. a product goes on special you can imagine it potentially going to order more of it because it sells out a little faster. i can tell you who i spoke to, because he said use my name, david tollver, a spokesperson for walmart, and he said, in

fact, that if we say anything about the inventory about we allude to the headline that had come across that walmart was cutting inventories because it was piling up, he actually said that was, quote, completely false. in a way he did disavow that part. he said it has to deal with how retail works. he feels it was misinterpreted by the market. >> the dow did take a dip on that. give us your perspective. you're on the floor what they're talking about and the importance of this. >> one of the traders said as i was moving over, when the 800 pound gorilla looks like it might be sick, other things around it catch a cold. the dow dropped about 35 points. the consumer names dropped. take a look at nike, for example, there's a classic retail cup sumer discretionary stock, that stock moved to the downside. put up nike and see the downside. put up other ones.

visa, for example, and i'm just picking dow stocks that are consumer oriented. >> bob, we have -- we have something that was just released. switch gears completely. visa down 1%. switch gears, the fbi, thank you, guys, has released the first video released by the fbi of the shooter in the navy yard shooting that took place. this is the fbi's first release of this very chilling video as he walked in. >> he walked in with what appeared to be a duffel bag of some sort with obviously the gun in it and now you can see him moving about, stalking in the hallways of that building. there i presume is his automobile. moving in and here he comes through the door. you can see the shoulder bag there where the shotgun apparently had been broken down and then he reassembled it as he moves through the building here. what a terrifying sight that is.

>> just released by the fbi. that's the very first video they have of that. we'll continue following that story which is developing as well as the slight sell-off on wall street. >> and nice to have you in the house today. >> thank you. nice to be with you. >> that will do it for "power lunch." >> "street signs" begins now. >> all right. why wait for halloween? we have three scary stories. the first one that has broken within the last hour. walmart, courtney reagan doing excellent reporting. walmart is coming back. more into the name, what the latest developments are. amazon sending a shot across apple's bow. will its kindle take a bite out of apple's dominance. two hours away from the race captivating america. how oracle may set sail on one