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tv   Power Lunch  CNBC  October 14, 2014 1:00pm-2:01pm EDT

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mike murphy? >> american airlines. >> josh brown. >> bank of america buy. >> emc going higher. >> i like adv. getting a nice ounce back today. "power lunch" picks up that story now. >> "halftime" is over. "power lunch" and the second half of the trading day starts right now. look at this. that is green right there. one, two, three, four stocks. we haven't seen green in a while shooting up after yesterday's late day plunge. dow, nasdaq, s&p, why the change in direction? why all the volatility? we will try to answer those questions this hour. we are also watching the yield on the ten year very closely. if i get out of the way you can see it there. that is a red number there. the yield down to 2.27%. paying special attention to what
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that means for mortgage rates, housing markets. we went below 2.2% down to 2.19%. and four big threats to the american economy. they all begin with the letter e. energy, ebola, earnings and europe. we will look at all four of the big es. that used to be known as elven hayes. >> 2.2% should be the low for the ten year. anything below that he said would force the feds' hands into action and said the fed cannot tighten now due to the risk of deflation. we have been talking about that especially with energy and looking for a bounce for stocks. of course, not bouncing but falling has been the oil market. brent and crude. now down 19%. the transports are bouncing back
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along with the dow jones industrial average partly due to the drop in oil. they are up more than 3% although the transports are down more than 2.5% in a week. it's been a very interesting trading session. we have a little more stability and bob joins me here on the floor of the nyse. he said he thinks alibaba put in the top for stocks and then the decline that we have had maybe a little overdone so we may get a bounce. >> it actually did happen. that is exactly what did happen. the question is how much more selling we will see. a little more stable and oversold conditions. i think that is exactly the answer. i want to point out we are now in the start of earnings season. bank earnings came in today. if you look at citi group. earnings and sales there. jp morgan a slight miss on earnings. because of the poor downward momentum that stock trading up. wells fargo more important. the good news is commercial loan very good. mortgages were fair, not
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particularly great. unfortunately, because of the low interest rates that is hurting the overall margin so trading to the down side here. other sectors here getting bounces in oversold groups. airlines bouncing. the semi conducters is bouncing. that third one there the metals stocked hit hard and bouncing today. exploration and production companies. we have brent crude down $2.50. and yet oil stocks are bouncing. finally these stocks -- >> they have been down 20% this month. >> they are trampled. >> even with oil down they are getting small bounces right now. we are also getting declines in some of the limited partnerships. >> they have pipe lines basically continuing to drop today. this has been a bit of a concern for the overall market. >> it certainly has a steadier tone than yesterday. then up until the latter part of
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the trading session we thought we would have a steady day. we will see how today goes. >> we go into the open less than 30% of the s&p 500 was below the moving average. i think you have to understand some people are looking for stability and will just buy now just to get a short term bounce. >> i will see you in a little bit? all the volatility lately many people asking whether stocks are set for a correction and whether we are actually in the middle of one right now. guess what, a lot of stocks already are in correction territory and you know who has figured out which ones they are. some are in bear markets down 20% or more from their 52-week high. dom has been looking at stocks that have been hardest hit. >> 500 stocks in the s&p 500. out of that 124 stocks are down at least 20% from their records. over 0.5 in bear market
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territory. we picked out names you may not recognize. it's the nation's largest drugstore chain, walgreens down 20%. it hit a high on june 19 of this year. that is a stock tax inversions, everything else aside that stock is down about 20% right now. maybe one on some investors' shopping lists. amazon.com opening a brick and mortar store. that stock down 25%. on the oil side of things what about halliburton down 32% since july 24 just this summer. and then we talk about the consumer side of things. maybe on the luxury side of the spectrum here coach lost 41% of its value. it hit its high in november of last year. the single stock in the s&p 500 that lost the most since its highs is avon products losing
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half of its value just over the course of the past year. this is a huge move down for a lot of these stocks. here is a question for you. out of all of the sectors in the s&p 500 which has the most stocks in bear market territory? >> oil services and energy. >> what is number two? >> consumer. >> consumer discretionary. two opposite ends of the spectrum. oil prices is supposed to drop. on the one hand the two worst sectors in terms of the most stocks in bear market territory energy is number one. >> what is this very handsome medallion here? >> it is a creative expression of a down arrow by our fantastic artists here at cnbc. >> that is nice. i love that. >> fancy here. >> you are so fancy. iggy azalea. >> good performance on that pop
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quiz there. given the recent market pullback where do you invest the small caps, large caps, bonds? president and chief investment officer and michael is the president and portfolio manager of the permanent portfolio funds. nice to have you here. jerry, are you doing buying or do you think there is more down side to the market? >> most certainly down side. there always is. at the same time you don't get these -- you guys just pointed out some of the real sharp corrections in names. they are not necessarily connected with some global event. it is just portfolio changes, people have individual concerns about some of these names and then as you pointed out with energy we are taking a 20% oil price decline and turning it into 40% stock declines. that very inconsistent historically. >> are you putting more money into some of the energy names that you have held? >> most definitely.
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you take a company like eog who is the best in class in several of the major shale basins in the country whose cost structure is in the $40 to $60 a barrel range which overwhelms almost any other oil developed in the world today. this company down 35% in the last three months and yet they have easily the most competitive oil production economics of anybody in the world today. we think that is the time you would enter a name like that at ridiculously low valuations and as the price of oil settles you will still see an incredibly profitable investment there. >> a lot of people thought we were overvalued. so do you find value in the market at this level? and if so where would you be looking? >> there is always value. it depends on what sectors. i think energy is definitely one although i believe there are
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reasons why it sold off. the stronger dollar between the u.s. central bank and the other central banks around the world and potentially slowing world wide growth which eats into demand. while there are good values there may be a reason why it is trading below the broader market. we tend to focus on those sorts of names as well as traditional growth areas. we like technology and financial services and transports in the u.s. we like probably looking at smaller cap names right now given that the dollar is strong and smaller names are generally more u.s. centric. so those are areas we are dusting off our research on. >> small cap versus large cap, are you more inclined to either one or both? >> in our equities we run all caps strategy. we are looking at all sectors of the market. >> thank you very much. appreciate it. >> the nasdaq rebounding today but getting closer to a
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correction territory. down more than 7% from its most recent high back on september 19. morgan brennan following the big movers over at nasdaq. >> well, that is right. taking a look at the nasdaq we are up 1% today. we are on track for the sixth consecutive session of gains or losses of 1% or more for the composite. we haven't seen that since 2011. the gains snapping a losing streak that sent the composite down 8.7% at the end of the close yesterday so we are starting to see that come back. right now it is green arrows across the board. none more so than semi conducters. that has been the story after we saw stocks sell off sharply. take a look at that today. that is up more than 2%, almost 3% and a number of stocks getting upgrades from analysts leading the tech sector higher
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in analogue devices and intel up about 2.5% ahead of earnings after the bell in general seeing a lot of mega cap stocks trading higher today. facebook, google, amazon in competition. we have google announcing same day delivery expansion and charging for that service. so both of those stocks are up. back to you. >> thank you very much. now to market flash. >> let's talk about the dow jones transportation stocks. index the dow jones transport index having best day since august of 2013 after being hammered in yesterday's trade on the way higher. you have airlines soaring led by jet blue, delta, united, american, those stocks to the upside today as you look at trucking stocks up, as well. transportation is certainly having a good day in today's trade on the rebound. >> thank you very much. the big bank earnings today
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and out with latest results. johnson & johnson among them. that despite a stronger u.s. dollar. mixed quarter by contrast for wolverine world wide owning shoe brands like hush puppies. sales fell a little bit short. the company cutting its revenue outlook for the year but sticking with full year profit forecast. and domino's pizza soaring today. there it is up $7 a share, that is 9% topping estimates thanks to strong results and good toppings. domino ceo will speak with "mad money" tonight about the outlook ahead and the ceo of cheneire energy and continental resources tonight at 6 p.m. must see tv. a new warning from the world
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health organization about the ebola outbreak. and facebook's mark zuckerburg and his wife joining in the fight to stop the virus. the european central bank wants to stimulate the economy. who is right? a face-off straight ahead. we debate that. you can join the conversation and get to decide who wins the debate. go to cnbc.com/vote. "power lunch" is back in two with the dow up 112 points.
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netflix shares on the rise. the stock on a buy rating and setting target at $600 a share. the stock is up by about 2.5% near its session highs. >> the british government is getting out of the train business. they are selling their stake in the euro star train which is a favorite for tourists. it is part of a plan to divest itself of private assets over the next five years. we are watching four e words very closely today for their impact on the markets. we have covered earnings and energy already. today we will get into europe in just a moment. but first to ebola, the world
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health organization saying there could be up to 10,000 new cases of ebola per week within two months world wide. today mark zuckerburg inserted himself into the fight. he and his wife donating $25 million to the cdc. northeastern university releasing a study showing the countries most likely to have increase in the next month. number one on the list, ghana, number two, the usa and number three, france. a lot of things going into that including migration patterns. italy isn't high on the list but the italians are getting set just in case. this is video of the italian red cross suiting up with new haz-mat suits and special gear if and when they are called on to transport ebola patients. thank you.
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to those other of the four es, europe and more nervousness over the biggest economy. new data showing german sentiment about the economy plunging to negative levels. germany slashing the growth outlook. this year's forecast at 1.2% down from 1.8%. next year's gdp estimate cut to 1.3 from 2% and euro zone industrial production falling worst than economists expected. germany has been focused on fighting inflation. deflation seems to be a problem across much of europe. does germany have it right? let's bring in our chief international correspondent who wrote the book "you know i'm right." you can join the conversation. who do you think will win the debate? germany or the rest of europe?
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cnbc.com/vote. germany has an historic aversion to inflation. >> absolutely. right now the consensus among world central bankers except for german ones and in order to fight deflation is that the ecb ought to print money and ought to be more deficit spending by the government. those are two things germany absolutely does not want to do. the rationale is that there should be reforms in places like italy and france first because we just put money in yes you get inflation but not a better underlying economy. if you help them out too much they will never reform. >> if we can do it why can't they do it? >> all of what michelle says is true. i just offer a couple of data points. europe has under gone severe deficit reduction. their balance sheet is down by about 1 trillion euros. the u.s. has had some deficit reduction but at a slower pace
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than europe and balance sheet has gone up and we have growth in excess of 3%. deficit reduction, decline of the balance sheet and now extremely weak growth. on the other hand you have the united states which has stronger, not robust growth. i agree it doesn't solve longer term problems. the trouble is when you say the words structural reforms to people all they hear is i'm going to lose my job. so the net effect of structural reforms is lower aggregate demand. >> all of that is absolutely true. but when it comes to the two major countries that we are worried about, france and italy, they haven't done enough necessarily when it comes to the budget and what they spend their money on. mario draghi said if you have room to spend you should do it and those who don't have room should spend differently. some people will lose jobs at first but then labor gets less
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expensive and freed up. if you have real reforms that allow for companies to begin growing beyond 49 people you start to see quality job creation rather than government-created jobs. >> this is a very tight vote here. steve, this is your chance to come back. >> i don't want to disagree. you need the structural reforms. i guess somebody wrote this. i'm advocating for a carpet bombing rather than a bazooka. let's do some deficit spending to keep aggregate demand up. let's do some balance sheet increase and structural reform. let's do all four here and see what kind of results we get. we know what we get if we just chop the deficit and reduce the balance sheet. >> structural reform doesn't happen until that 7% -- >> that was -- >> we will debit her three points. she still got you there.
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>> five-point penalty. and there is the vote. michelle got 58% of you agreeing with her that structural reforms ought to come first. 42%, steve. >> next time. >> i don't mind losing this debate. i don't disagree one bit. >> don't you think bankers look like the judges on "the voice." appreciate it very much. maybe michelle should get a cupcake for winning the debate and she could get it at crumbs bake shop because it is celebrating the grand reopening in new york. the co-owner and star of "the profit" is there. he will join us in just a second. he will explain the growth plan for the company. it is more than just cup cabe s now. a lot of people are nervous about the economy. we will talk about more opportunities. "power lunch" is back in two. opportunities aren't always obvious.
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ask your doctor about cialis for daily use and a 30-tablet free trial. welcome back to "power lunch." the dow is rebounding. you have big names like caterpillar and intel, ge and
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boeing. some of the higher price stocks have a positive impact on the overall index. >> thank you. check out darden restaurants. that company appointing starboard values jeff smith as chairman and naming jim lee as interim ceo replacing clarence otis. skyward solutions getting a nice lift raising revenue forecast. and google turning up the heat on amazon. the tech giant expanding express delivery service and will begin charging a membership fee. new episodes of the profit kicks off tonight at 10:00 p.m. eastern and pacific. you can watch it here on cnbc. . marcus bought the struggling cupcake chain crumbs and is in manhattan. how is it going? you have quite a crowd there.
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>> i can't believe the crowd. you look at the table and look across the glass and all you see is cupcakes and bagels and muffins and biscuits and brownies. by the way, we have wicked good cupcakes from our friend kevin o'leary. one of our first days that we are open. we think that this is going to be amazing. you can see by the line that it is phenomenal. it has been a giant undertaking. 120 days since we announced the acquisition and went through the bankruptcy process. these are all employees that were with us before. >> first of all, congratulations. and second of all, talk to me about the different types of offerings. you showed us a little bit about what you have in the store. you own a number of other baked goods companies. you mentioned wicked cupcake. there are others, too. >> part of the issue before is that you look at the average day
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between 8:00 and 10:00 at night and we didn't have the share of wallet for the entire day. nothing to offer at breakfast and late night. woo ehave a bagel line a cross between a bagel and a croissant and a cross between a pretzel and a croissant and started to launch new products, biscuits so people can shop here all day. i want to show you the back. the back is really the brains of this operation, all this product. we will probably sell close to 9,000 cupcakes today. lots of other products, cakes, biscuits. this is what i have coming for tyler. >> that looks good. >> i was going to ask you -- >> don't forget about this cupcake. >> excellent. >> hold it up for us again so we can zoom in on that a little bit. >> it's the profit. >> fantastic. >> i was going to ask you what you changed from the old version
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of this store to the new one. it sounds like it is product, product, product that that is what you are focused on. you came in to do this at a time that in september small business confidence took a bit of a dive. you have to be pretty confident to take on a company like this one that had just so recently gone through bankruptcy. >> you know, it was doing $25 million before so i knew there was a good revenue base. what was missing was the stores losing the money needed to leave the system. we also flattened out the organization. it was very top heavy, very management heavy. so that doesn't exist longer. we are running it like a small business and seeing we think it will be a lot more viable under this model. >> thank you very much. continued success to you. new episodes of "the profit" kick off tonight on cnbc.
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the metals markets are closing right now. given the fact that we are off of the highs on the trading day for the dow, we are up 76 points. let's see if money is going into the gold market and it is. we are up $4.50 on the gold market. silver, copper, rebounding with the biggest percentage gainer early on but it is overtaken by the copper market easing fears. let's turn to the interest rate market. mabing very interesting comments earlier here on cnbc. rick santelli is tracking the action for us. >> doing maybe a little marketing for those who are looking to move any type of funds into a bond fund. he has had the move correct. look at the ten year note yields. we did visit the level very briefly as we send it to 23.
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we are down a handful of basis points. haven't closed at these levels since summer june of 2013. another currency we don't often refer to but having an extreme day today the canadian dollar trading at the lowest level. the chart is the dollar versus canada. the lowest level since the summer of 2009. something to pay attention to. back to you. >> thank you very much. nasdaq rallying today but getting whacked in recent weeks plunging more than 7% since most recent high back on september 19. it has been getting closer to correction territory demarcated by a 10% slide. should investors stay away from the tech and other well known nasdaq names or get in at these levels? how to play the nasdaq slide next on "power lunch." i love having a free checked bag. with my united mileageplus explorer card. i have saved $75 in checked bag fees.
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check out shares of nutrisystem. the group called on nutrisystem to sell itself. those shares did spike earlier
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in the session but are now up by about 0.75% to 1%. let's look at the overall market for you right now after being up about 142 points the dow jones industrial average is up 87 but we are off our best levels of the day. nasdaq is up 44 points on the session better than 1% advance. the s&p is up about 0.75%. morgan brennan is following big movers at the nasdaq. so far so good holding our own but off the best levels of the day. it is starting to feel a little tennious. >> everybody's confidence was shaken yesterday. we were looking for overall bounce. then just we just died. there were a lot of talks about heavy programs that came in, a couple of big sellers. it is always hard to determine that. the confidence has been shaken in the ability to get that bounce. that is what we are seeing today.
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let's look at key sectors. so for example airlines, a lot of stocks down 15% to 20% in the last three to four weeks. nice rally here. jet blue, delta airlines also in the upside. another group, gold on whatever concerns, low inflation, not enough turmoil as if we don't have enough. moving to the upside. all the usual suspects doing nicely. home builders 52-week lows on a number last week and today a quiet bounce. we are not getting an increase in interest rates. that is certainly good news for them. they have been sold largely on concerns that sales are not going to keep pace with last year. exploration and production stocks despite the fact that west texas and brent down a couple of dollars today. that is a positive sign when you see the stocks down 25% in the last three weeks. some of these names bouncing on
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a day when oil continues to decline. it is not exciting. the vix is down about 1.5 points today. that is all anybody wants is looking to build a base at this point. >> we will see whether it holds through the afternoon. uptown to the nasdaq and morgan brennan. >> taking a quick read on the nasdaq composite just under 1%. still on track so far this week two days into the week for losses. we are seeing chip makers and large cap tech leading the rally here today. take a look at the so-called momentum stocks. netflix is up about 2.5% after it was upgraded to a buy with a $600 price target. tesla, go pro, price line in the green. social stocks are moving higher. the global social media up about 1.5% today. facebook, linked in and twitter are all up askand contributing
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those gains. check out bio tech. that is alternated between gains and losses. that is up about half a percent despite one of the biggest names in bio tech falling about 3% today dropping analysts following reaction to johnson & johnson's earnings this morning which included strong results for that company's hepatitis c treatment. >> thank you very much. nasdaq up a little bit today. the index plunging more than 7% from most recent high about a month ago getting closer to correction territory. so should investors stay away from the tech and other well-known nasdaq names or should you maybe nibble at the levels. joining us jeff killburg
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founding of kkm financial and also a cnbc contributor. the market has been going through something, maybe puberty. tell me why or whether, jim, you think now is a point where i could profitably nibble at nasdaq names or etfs. >> if we are talking about investors and somebody has a long term view i don't think whatever we are going through yet is over yet. i will believe when we build a base and move higher from that. if we have a day when the nasdaq is up 40 now, if we were up 60 at the end of the day that will not make me feel better. i want to see a couple of days with small moves. i think you can wait for a bit of a better level before you get in as an investor. as a trader we will have moves along the way. >> jeff, your thoughts? >> it is hard to agree with my
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buddy. you see the 1.5% moves it feels like sentiment has changed. here at the floor sentiment has changed. we think we are in the first or second inning of normalization. i think it will go down further. it is still 17.5% higher than a year ago. those moves are not normal. i think we are going to go normal. >> the one thing he said about rates is important. the nasdaq used to be considered this risky instrument. now we have names like apple and microsoft, stuff that pays dividend is more safe than other things. nasdaq isn't the russell. >> great point. i think the u.s. stocks are immune to global head wind i think is a naive outlook because it will come to our shores in the near term. >> cautious take from chicago. we are going to put up a number. take a look at this number. men make up more than 2/3 tech
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employees. apple and facebook are introducing a new perk they hope will change that statistic. they will pay for employees to freeze their eggs. will it help attract and retain female talent? go to cnbc.com/vote and weigh in.
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we are asking which of the es worries you the most right now? 47% say the ebola outbreak. 22% say europe's slow down. 6% say energy prices dropping and 25% say earnings. ebola takes it. back to dominic chu. >> utility stocks continuing to rally. the utility index once again the best performing sector so far this year to date. among the leadersenturgy, oned
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and edison international to the green. utilities another trade that is working in today's trade. back to you. >> a story everybody is talking about security video released in new york city today of someone, police have made no arrests so far, popping out of a subway grate and throwing a smoke bomb into a popular restaurant in greenwich village. some customers complained of irritation to their eyes but raises an awful lot of questions about security in the biggest city in the usa. >> thank you very much. time for the power run down. jane wells and robert frank, a portland, oregon based wells fargo branch employee took a chance when he asked for a $10,000 raise. reports say he sent the e-mail request to the ceo and he cced
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200,000 employees. jane, if you were asking for a raise would this be how you would do it? >> but i'm going to think about it. the guy makes $15 an hour and he processes calls from angry wells fargo customers who want to stop debt collector calls. i would say this kind of thing deserves more than $15 an hour but i'm not sure it is in banking. >> he says he is not worried about losing his job. in his letter -- >> he obviously doesn't care. >> he apparently doesn't care. he also introduced the idea that the ceo makes $19 million a year. his plea really is a re-dress as he sees as inequality. >> he says you can make an example by giving me sh some of your money. the point is we have rising inequality in incomes because the top earners are getting stock based pay.
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give this employee company stock or options then he will start making those big bucks and will be incentivised to contribute to the company. that is better than just giving him cash. >> interesting way to go about it. a quick programming note tune in tonight to the "closing bell" when wells fargo cfo will be talking about the bank's earnings. next -- i bet he won't talk about the letter. marvin elson named next president and ceo designate. check out the letter from the board. it includes a salary of $1.3 million, one time cash signing bonus $4.1 million. relocation benefits for moving to the dallas fort worth area, allowance for up to $3,000 for annual health exam and $25,000
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legal fees. should they have thrown in a six pack of men's socks. >> if you are getting a $4 million signing bonus you can afford to pay the doctor and lawyer. i think the add ones and you see it across the ceo spirits, club memberships, flower allowances and extras that -- trainers, if you are paying somebody that much let them pay for their own flowers and trainers. >> i disagree. this is such a horrible job and the stock is up today. if he can turn this company around he deserves every j.c. penny. >> he gets something like $15 million worth of stock options, as well. >> good for him. >> what is interesting is that they publish the letter. apparently the letters of engagement are not all that rare and the fact that chose to circulate it is not that rare. it came as a bit of a surprise.
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facebook and apple offering female employees an interesting benefit. the silicon valley giants are going to cover the cost of freezing the female employees' eggs for non-medical reasons. do you think this will help attract and retain female talent? cnbc.com/vote. any thoughts here? >> dumbest idea i have heard all week. what? so you can help women with their career motherhood because it is easier later. here is how you attract women, pay them. then i can freeze my own eggs, thank you very much. >> it is like the free lunch version for fertility. a lot of the companies provide free lunch because their workers can stay inside and work more. what you are telling women is forget about your reproductive
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plans and just work for now and worry about that later. >> it will be so much easier later. >> you will have the eggs on ice for a time when it is more convenient. the people have spoken and you will see that only 16% said yes and 84% said no way. the supreme court rejecting a challenge to a california law that bans the sale of foie gras and banned state farmers to force feeding ducks with a tube to fatten livers. the ruling from the highest court in the land is in and says no foie gras for you. we have more market coverage, stocks to watch and much more with the dow up 75 points now. power is back in two. [ female announcer ] we love our smartphones. and now telcos using hp big data solutions
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sea captain: there's a narratorstorm cominhe storm narrator: that whipped through the turbine which poured... surplus energy into the plant which generously lowered its price and tipped off the house which used all that energy to stay warm through the storm. chipmunk: there's a bad storm comin! narrator: the internet of everything is changing how energy works. is your network ready?" we have talked a lot about the possibility of deflation here on "power lunch." take a look at west texas intermediate crude below $83 a
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barrel. they have been in bear market territory so we are getting an oversold bounce in that sector today but watching wti and brent in today's trading session. >> those are actually big moves when you deliver that much in a day from those price levels. macy's gaining ground. the department store said it will open at 6:00 p.m. on thanksgiving day two hours earlier than last year, two fewer hours for you to digest. alibaba initiated buy. shares of alibaba down about 0.25 at 84.88. orbitz. the firm citing signs of momentum and that stock is up about 1.5%. we will talk volatility. the vix index cooling down a bit after we saw the big spike latenist session yesterday. just how fearful are investors and are fears holding back
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recovery. o'neil securities and cnbc contributor. was yesterday an aberration? the market was moving up steadily and then fell off a cliff. we saw the spike in the vix. >> i think we have talked about this. the three indexes first had broken 200 days. s&p was just a matter of time. it did it yesterday and then the vix spike. once it broke through 2122 and created more of a problem for the overall market. you saw that yesterday. we are still at just under 23 at the moment which signals some anxiety and fear people are not so sure. there has been a lot of technical damage done to the market so it has to repair before you see that vix come in. >> the worry that art cashin had about a month ago was deflation. copper moving down, oil getting crushed. now west texas intermediate below 83. >> i think that is great. >> that is true. >> for the consumer i think it
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is great. >> if we get into a deflationary cycle. >> starting to talk like you. stop it now. >> are people worried about deflation? certainly they are worried. certainly brings that up. i'm not so sure that i believe we are in a deflationary environment yet. but certainly it is just another concern that is out there. what is the fed going to do? you started to see fisher over the weekend and talking about the fed is not on a time table. we don't have to raise rates. 2.20 is probably the low on the ten year. he also said alibaba may have been the top for stocks. >> isn't that interesting. such a great day that day in the one hand on alibaba but yet it was very reminiscent of that nuttiness about a market top. look what has happened. >> appreciate it very much. with the market right now up
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sitting. the ten year yield is 2.31. jeff donelack saying he thinks it might be the low. the 30-year yield broke the 2% mark. we are at 83.06, a big percentage move of a drop of 3% plus. the u.s. dollar is stronger and that is one of the issues not only for oil but for the metals market. the dollar is trading higher. the volatility index is dropped today, however yesterday it had a huge spike. keep that in mind and in perspective. in terms of winners three winners right now. airlines bouncing back partly because of lower oil and because they are vastly oversold. delta up $1.70.
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text ron up 5%. the key is whether the advance. >> hurry home here. we will see you back here tomorrow i hope. that will do it for this edition of "power lunch." "street signs" begins right now. . a wild run continues for stocks. we are back higher as oil keeps falling can anybody really figure out this market? we will try with an exclusive interview with the man running the biggest bond fund in the world. the dow coming up today. it is still up but not quite a triple digit. if it does manage to finish up with a triple digit that would be the sixth straight day of triple digit moves. look at the transports here. staging a comeback that represents the best day all year ley

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