of here. >> sap in a sideway range. i think it breaks higher >> if we do get this three-month extension, you see financial rallies on the back of it. >> materials scream higher i had to take off some of that u.s. steel and i'm completely off. >> good stuff. does it for us "power lunch" starts now the strongest atlantic hurricane ever now crushing the caribbean and targeting the u.s. next florida is in the crosshairs it's much, much bigger than harvey and it's potentially catastrophic we're tracking the storm and the preparations straight ahead. netflix for free t-mobile turning up heat on the rivals what it means for the mobile phone wars and after a major sell-off yesterday, we're back in the green today. what's an investor to do now the reasons to buy and the reason to sell this market "power lunch" starts right now

i'm brian sullivan believe it or not, oil is helping you and your money today. crude trying to claw back to 50 bucks an hour pushing exxon and chevron higher leading to gain for the dow up 70 points other stocks to watch today, sarepta. and trivago investors losing 20 perce20 of money here's what else is happening at this hour the house getting more than enough votes to provide hurricane harvey relief. it now goes to the senate for a vote the fed number two stan fisher stepping down in october for personal reasons his term as vice chair was set to expire next but now he has president trump an opportunity to reshape the central bank

sooner than expected and president trump heading to north carolina to make a pitch for tax reform >> we begin whith what's being called the atlantic's host powerful hurricane ever. on track now to head to florida in the coming days we go live to ft. lauderdale for the latest on preparations but we begin with our guest wmaq meteorologist here at cnbc headquarters what can you tell us >> this storm continues to make its way through the caribbean and will make its way west-northwest here's a look at the latest track. it's going make its way to the west-northwest for really all of the way into friday evening before it starts to turn to the north going into the weekend saturday and sunday. making that north turn we still have questions on which side of florida it will move yes, it's trending more to the east everyone needs to prepare from

the east coast of florida, the west coast of florida, over into the carolinas even as far north as that. it's going to be a strong category 4/5 hurricane as it makes its way closer to the u.s. puerto rico is going to be dealing with the effects this already the outer bands of this battering down on puerto rico i want to show this image right here check this out amazing. that is the eye of the hurricane as it moved over the island of st. martin the entire island is in the eye of that storm. we have video right here of what -- it's a horrible look at what the storm did as it moved over st. martin with those winds at about 185 miles per hour. you can see the flooding is a huge concern you can see that there is tons of destruction it's going to be moving toward more smaller islands like this turks and caicos as we move into

the day tomorrow we'll continue to track this for you throughout the rest of the afternoon. >> thank you very much and let's go now to kayla tausche in washington with some late-breaking developments on the debt ceiling and the continuing resolution. kayla? >> tyler, all of those issues are kicked down the road once again for three months and that meeting that happened earlier this morning at the white house between the president and top bipartisan lawmakers from capitol hill, they agreed, the trump administration basically said that they agreed with the democratic leaders proposal to raise the debt limit for three months in contingency with that harvey recovery funding. the president is said to have supported that in the meeting despite the fact that the republican leaders who were present did not support that and neither did treasury secretary steve mnuchin according to a source briefed on the meeting.

what this package will essentially do is also keep the government open so we'll avoid a government shutdown in the near term it will also raise the debt limit in the near term so that congress and fema can continue dispersing funding both for harvey recovery efforts and for the impending recovery efforts for hurricane irma approaching republican leaders are clear this complicates efforts to clear the runway throughout the fall for tax reform or for any other extraneous efforts they were hoping to pursue once these issues were out of the way republicans had hoped to raise the debt limit until the 2018 midterm so that was free and clear for at least a year's time so this certainly complicates the fall agenda. a statement from the democratic leadership, senator chuck schumer and house democratic leader nancy pelosi, says that both sides have every intention of avoiding default in december and look forward to working together on the many issues

before us. they say that they also made it clear that we strongly believe the d.r.e.a.m. act must come to the floor and pass as soon as possible and we won't rest until we get it done all of these issues, tyler, are seeming to converge but at least for the time being, the president has signed on to a three-month deal back to you. >> it's kind of wonky stuff. i know you understand it maybe you can explain it to me as we go back and look at prior debt ceiling increases, there was always a conflict or a debate over whether that should be clean in other words, not contingent on being connected to some other legislation that was involved here whether it was spending cuts or something else has congress now in tying, it would seem, this debt limit increase to appropriations for

harvey and other storm relief, have they now opened that tent a little bit that it will now become harder to do those clean debt limit increases down the road in the future >> certainly, tyler, it was republicans in the past who always wanted to couple something with the debt ceiling. whether that was spending cuts or other issues. you remember in 2011, 2013, 2015, these issues came to the head and it was in march of this year when we actually hit the debt ceiling so it's been something that's been anticipated for some time. when democrats suggested this three-month short-term extension of the debt limit in exchange for democratic votes on that harvey relief aid, speaker of the house paul ryan said it was something that was unworkable and that he didn't believe that playing politics with regard to the debt ceiling was a good idea they seemed to be speaking out of both sides of their mouth on this issue but certainly the fact that this need is so stark

and so immediate for these harvey funds to be passed and dispersed and with reports and some comments from leaders that fema could run out of funding for this effort any time between friday and tuesday, obviously that ramps up the pressure on this >> thanks very much. kayla tausche reporting from capitol hill >> we want to reference a market reaction we are seeing stocks not quite at session highs but most notably the reaction is in the bond market. ten-year healed hitting session high dollar versus the yen in today's session hitting its session hig highs. we should check in on shorter term we saw those rates spike we had four-week $20 billion auction yesterday which sold at 1.3% investors want to be compensated for owning that t-bill that expired during the duration that debt ceiling could be reached. interesting market reaction on the back of this extension >> we saw a pullback in the sales of t-bills from yesterday. >> let's get back to hurricane

irma and jackie deangelis who is monitoring development on the southeast coast of florida >> the best way to describe it is to tell that you certainly nerves are on edge here in terms of the residents and business owners in this community we're at a home depot store. people have been stocking up on supplies all morning and even though there was a high volume here this morning and that volume has lasted throughout the day, we're also seeing some of those nerves start to show themselves because people have been scrambling around the city to try to get the supplies that they need. you hear those horns honking in the parking lot and people frustrated they can't find what they need on the shelves right now. at this point, people are dec e deciding what to do. do you stay or do you go they're trying to board up their homes and secure their property. governor rick scott issued some very stern words when it comes to safety and how to prepare for this storm >> i cannot stress this enough do not ignore evacuation orders.

remember, we can rebuild your home, but we cannot rebuild your life we're preparing for irma to directly impact our state while too early to tell where the storm will hit, it's incredible important that all floridians keep a close eye on this dangerous storm. >> the governor said is the point most frustrating to residents here they don't necessarily know where this storm is going to hit or if they're going to be in its path especially being a few days out of it right now, they're saying, you know, the nerves are going to continue to be on edge as we head into the weekend. back to you. >> thank you very much let's take a closer look at what businesses should be prepared for and to do that we're joined by the meteorologist from the weather company. dan, good to have you with us. we talked a bit about insurance companies. we will more in just a moment. we were just inside a home depot where the shelves are picked

clean. one area we haven't focused on is impact of a storm like this on utility companies and the amount of repair work that they have to do over time how hard a hit is this on utilities? >> tyler, it's potentially big hit. as you know, we're still four, five days away from landfall so a lot can happen the difference between the storm coming onshore as a category 5 making landfall in florida and then moving up the peninsula versus staying just offshore of florida is huge. obviously that's a big play when it comes to utilities. utility companies in florida especially up through the carolinas playing ve ipaying ve attention to the track the track isn't most importantly exactly where the eye makes landfall but in the case of category 5 or 4, it is important. you saw the damage earlier in st. martin absolutely devastated if something like that makes landfall in the miami area, that's much worse than, say, an example like matthew last year

recall matthew tracked just along the coast but far enough offshore that the eye wall never made it on the coastline that was a big difference in damage to the infrastructure and utilities there. we can't get a good handle four to five days out exactly where and when it will make landfall >> dan, we talked about harvey earlier in the office. we remarked on how slow moving it was 3-mile-an-hour storm that just sat there for days how fast moving is this storm? is it going to be like harvey in a sense when it hits it's not going to go away for a number of days >> no. this is a better scenario when it comes to flooding i shouldn't diminish the potential there for storm surge but when it comes to heavy rainfall, this is a much better scenario than we had with harvey harvey stalled for three to four days in the same area. this storm will keep moving. once it gets up to the latitude of florida, it gets caught up

into the jet stream so it will move up into the carolinas within about a day and then up into the ohio valley a day after that that's not to say we won't have some flooding. almost guaranteed to be significant flooding in the carolinas perhaps even the tennessee or ohio valleys as the storm moves in and diminishes. i don't see a repeat of harvey, no >> this is what the insurance industry is going to call a wind event, right, because the winds are going to be so strong as a category 5 and with the density of the population in south florida, much potentially higher levels of insured losses here, right? >> absolutely. remember, harvey made landfall well south of houston. we didn't have storm surge in galveston. we didn't have significant winds in houston this time around if the low tracks where we expect it to you're talking landfall somewhere within 50 miles of miami. much worse scenario than making landfall 200 miles south of houston as far as damage and wind surge >> we'll check back in with you,

i'm sure, over the next 48 hours or so. dan leonard with the weather company. insurance stocks recovering a bit today but coming off the worst day of the year yesterday. hurricanes harvey and i rememrm putting pressure on this stock >> this is a realtime handicapping event you watch those live photos on our air about the possibilities of that storm movement as we take a look at some of these insurers, you might recall yesterday some of the worst days of the year even longer for some of these smaller and mid cap insurers especially ones more focused on that florida market s&p insurance index you can see there just over the last month down about 5%. a big dip in the last couple weeks tied around harvey and now picking up just a bit up a percent today. is it perhaps just a little bit of a bounce off of some oversold conditions, that could be it check out these stocks universal insurance is a smaller cap $600 million market cap

insurer fell almost 20% yesterday before recovering a little bit down 15%. it's up 3% today we'll see if that trend continues. the big ones that a lot of people are watching in terms of the large megatype stocks that we tend to show on our air quite a bit, travelers, progressive and chub all of that's guys you can see over the last month losing a lot of ground. whether or not these stocks react, remember, these stocks here, the big ones, have a lot of geographic exposure not just florida they're the ones a lot of traders will use as probably one of the better ways and more liquid ways to handicap and play along and look at the prospects of how these insured losses might play out, guys back over to you >> thank you very much another market getting hit by thethreat of hurricane irma. catastrophe bonds that have exposure to florida hurricanes a news service dedicated to insurance markets say a catastrophe bond fell 50% yesterday. it was named citrus bond because florida grows so much citrus

insurance companies issued cap bonds to shift the risk of catastrophic events away from themselves to institutional investors to like to buy them because they provide yield which is uncorrelated to anything else in the market. the risk is the amount you get paid depends on whether or not there's a catastrophe. the market is for professional investors. let's get back to what the average investor can do and bring in mark. good to have you here. >> good morning. or afternoon, i guess. >> historically we see insurance stocks sell off leading up into a catastrophic event and then once people figure out it will not bring down the insurance company, often times the stocks rally because companies can charge more for insurance. is that the pattern that we're going to see now >> i think that's a lot of what we're seeing over the last couple days. the nasinitial reaction to harvy

was not as negative to insurance stocks as one might expect one week after going from friday to last friday, stocks most of the group was really only down 2% to 3% what we saw yesterday was a delayed reaction to harvey combined with the potential that irma would bring every bit as much or even more loss to the friday i think what we're seeing today now is some sense that the two events together might be something of a pricing catalyst for the group. pricing has been done for commercial insurance for a few years now. i think while the short-term pain over losses that the companies are likely to take are significant, the possibility of getting it back on the back end is also going up as the potential for large loss increases. >> so at this point, what's your handle on what those potential losses can be? what is stagg egering a storm o this size and severity has not hit miami. the last category 4 storm that hit miami was in 1926.

some of the damage estimates at $135 billion for this particular storm this time around in other words, how deep with this insurance industry weather these losses before they get to the other side before investors get to the other side and see premiums increase? >> certainly the potential for really huge catastrophic damage is definitely present with this storm. we've not seen anything much like it. even that was category 3 when it made landfall. the storms that people are comparing to are sandy because it hit a large metro area like this very well may hurricane andrew which also hit south florida and then hurricane katrina, of course, which had devastating both flood and wind consequences so i think when you start to triangulate those type of losses and think about the number of people living along the florida coast, a trillion dollars of insured property risk along that coast, the possibility of

getting to 100 billion is not unrealistic. now, as one of the earlier commentators mentioned, it does all depend on exactly where it lands, whether it stays offshore, whether it goes further north. there's a lot of things still in play so it's a little soon to make a firm call but definitely a big number is possible >> what about the particularity of the market? a lot of bigger companies got the hell out of there after hurricane andrew and others came in and so now you have a lot of smaller companies doing business there and all they do is property and casualty. are they vulnerable in a way that some of the bigger carriers wouldn't be? are they vulnerable at going out of business? >> they are certainly vulnerable because their size is not -- these are not aa and higher rated companies like travelers or chub or others would be that said, these companies also take significant advantage of the reinsurance market so the risks are going to be spread around to the likes of all of

the big european insurers, companies like berkshire hathaway and many others the companies are not foolish about their risk exposures they know that this exact type of event is what they have to plan for and try to take the precautions. it's not a small thing for them. it will disrupt their business for many months. >> for sure. thanks, mark good to have you on. >> thank you on deck, trying to fly out of florida ahead of irma if you can get a flight, get ready to pay. are airlines gauging that story will leave the gate soon but first call it netflix and call why t-mobile is teaming up with the streaming service. the ceo onpor nc rht tethisweluh"ig

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welcome back to "power lunch. t-mobile announcing it will offer free net flicflix to its customers on its family plans. with us is t-mobile's coo. thank you for joining us we appreciate it >> of course pleasure to be with you. >> you said this is a big investment but will not impact forecast can you help us understand what this does for continue h mobit-e how should we think about this >> well, this is our 14th major on carrier move. we're good at predicting how this stuff works

basically, our strategy is so simple we make a big investment, sure but on the other hand, that investment brings customers. it brings their revenues if we run the company right, those revenues translate into cash flow. what do we do with that cash flow we turn around and invest it right back into more differentiation for our customers. it's a company that's growing in profitability. we guided that this year we would have a three-year cash flow of 45 to 48%. all on the heels of an uncarrier strategy firing on all cylinders. we're doubling down. today's announcement is about giving every single family plan customer at t-mobile on t-mobile 1 netflix for free indefinitely it's on us that's a big investment. >> you allow users on the plan to binge for free. unlimited binging. so what you're giving the customer is that netflix subscription per month 13 bucks for every family plan

user you have out there which is how many of the 70 million plus users that you have? >> yeah. family plans are the vast majority of our business so what we're doing is giving every family netflix for free indefinitely and this is fantastic. what it does is it illustrates that all unlimited is not the same we dragged our competitors kicking and screaming into this unlimited world that we live in. now we're illustrating that these networks are totally not the same >> what if netflix raises prices a lot? what about net flicflix raising prices in the future >> we're committing it for the indefinite future. >> what does uncarrier mean? >> uncarrier means the carriers are the worst part of an industry that people love. people love their smartphones. they hate the companies that bring it to them because the

carriers are all about figuring out ways to monetize you as a revenue generating unit instead of delighting you as a customer. four years ago we said we're going to be the uncarrier. >> who pays who in this deal does netflix pay you >> we're paying netflix. absolutely this is on us. we were able to get a small discount not a big discount they're netflix. they don't have to give a big discount we were able to buy it in bulk this is about us paying the fab for sur -- tap for sure >> so you pay $8 a month. >> this is the $10 a month plan. two streams of netflix, high definition, the most popular plan that they have. it's on us for now on. >> are your networks robust enough to carry all the streaming you will certainly get from this? >> that's what we're showcasing today. the network can handle it. we have the best capacity in the industry the other guys are going backwards.

verizon and at&t have negative growth in their network speeds they're slower now than when they launched unlimited. we dragged them kicking and screaming into this unlimited world. >> last question here. you just committed that it will be netflix forever on you no matter what the price happens with netflix, the pricing plan, what happens to how you sell your plan? are you committed to $120 a month for that family plan indefinitely can you tell us, you know, what you see for pricing pressures? fed chair janet yellen when she talks about inflation cites the deflationary pressures that competition in the wireless industry are putting on inflation metrics. what can you tell us about pricing in this very competitive industry >> well, our deal has only gotten better and better over the years. we're proud of that. that's what made the uncarrier so special on the netflix deal, we're covering it. i can't control for everything

that might happen for the permanent future with what we see about where they're pricing is going, it's on us. >> in the next two years, do you think prices will go lower on wireless plans of t-mobile or higher >> if you look at the broad trend, certainly the deal has gotten better and better for customers over the past four years. the latest example is when we ended data plans, we said, look, the era of the data bucket is over everybody should have unlimited. so what people are paying per megabyte or per unit of consumption is lower than it's ever been before there's a reason content of all kinds is landing on the internet and the internet is transitioning to mobile so mobile is becoming the main way people consume their connection to the world obviously it has to become a better and better deal >> thank you so much for joining us coo of t-mobile. >> we're getting our first look at hurricane irma's devastation. these pictures coming to us from st. martin in the french antilles east of puerto rico the latest on irma's track as it

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hello, everyone. i'm sue herrera. here's your cnbc news update for this hour. the national weather service says hurricane irma's strength is so record breaking, it's impossible to hype too much. president trump says irma looks like "something that could be

not good." irma is expected to hit south florida over the weekend it's a category 5 storm. the strongest atlantic storm ever recorded. before departing for north dakota, the president telling reporters he had a strong and frank discussion with china's president regarding north korea. he says while a military operation is not a first choice, the u.s. will not put up with what's happening in pyongyang. democrats are speaking out on president trump's decision to end deferred action for childhood arrivals otherwise known as daca. democratic leaders called for an immediate vote on the d.r.e.a.m. act. >> congress has the obligation to act which is why we call on speaker ryan and leader mcconnell to immediately put the d.r.e.a.m. act on the floor for a vote in the house and senate we're ready to pass it >> and that is the news update at this hour i'll send it back to you,

michelle >> let's see if they get it done thanks, sue. let's look at the markets right now. stocks are seeing a move higher in the last half hour on news the presidents will support a three-month debt limit extension. the dow is higher by 79 points gold lower treasury yields moving higher. jpmorgan and goldman seeing biggest moves as we see interest rates rising dollar/yen spiking when we learned there was an agreement about the possibility of passing a debt limit hike. at least a temporary one let's get more on the moves. rick santelli is tracking the action rickster >> you summarize it. the news more than double the range of today's 10-year. we traded a bit under 10.06. one month chart will show you it

certainly has been taking its sweet time to get closer and closer to 2% and what could be called anything but a volatile wild ride. dollar index did have a pop but not near the extent and didn't take it into positive territory like the treasury market index shows a rougher ride and still like treasuries defending lows that we haven't seen in 2017 michelle and melissa lee, back to you >> thank you, rick still ahead, airlines bracing for hurricane irma what you need to know coming up. first, three reasons to buy or ow lchist.is marke "perun" back in two ♪ it's not just a car, it's your daily treat. ♪ go ahead, spoil yourself. the es and es hybrid. experience amazing. people don't invest in stocks and bonds.

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all right. welcome back to "power lunch." lots happening breaking news out of d.c. that has moved the markets. president trump now supporting a debt limit extension for three months kayla tausche on capitol hill. my simple question to you, kayla, is who won here the democrats? >> it would appear, tyler, that the democrats did win here this was their proposal that they floated this morning and their proposal that the

president accepted in a private meeting with lawmakers earlier today. despite the fact that top gop leaders and the treasury secretary opposed such a move according to a source briefed on the meeting. the president a few moments ago aboard air force one on his way to make those comments this afternoon about tax reform confirming to reporters that he did in fact support this deal. he said we essentially came to a deal with democratic leaders and he said "i think the deal will be very good." this according to dow jones reporters aboard air force one today. he confirms this will prolong a deadline that previously existed at the end of this month to the middle of december, december 15th a green light for government spending and increase in the debt limit and harvey aid package will be expandedto include any need that is decidedly needed for florida when hurricane irma approaches that's impending still he's prepared for that it would appear.

certainly gop leadership feels that this complicates the agenda for this fall but for now, it appears these deadlines have been moved back to you. >> all right thank you very much. brian? >> we'll see you soon. all right. let's get back to your money investing can seem complicated every day on cnbc we talk about variables around the stock market and your money. like your mom probably told you, sometimes it helps uncomplicate things to make a list. with mom in mind, here's our easy to understand rundown of why you should buy stocks right now or take the money, sell, and run. reason number one to sell stocks, risks seem like they're everywhere fed delivering its balance she'd. debt ceiling and dysfunction easy to be nervous and fear gauge says don't worry despite all we just said, the underlying market is actually pretty calm, which brings us to fundamentals on reason number two you should sell all your stocks right now overall market valuations on the

high end on a trailing price to earnings basis the s&p 500 is around 20. that's not sky high. it's on the high side over the past few decades however, reason number two to buy stocks, earnings are strong. in fact, focus on future valuations than past reason number three that you should sell some are all of your investments right now is the most compelling. you probably already made a bunch of money over the past few years. if you bought the s&p 500 three years ago and did nothing else and forgot about it, you nearly doubled your money why be greedy. reason number three to buy stocks, most investment pros will tell you it's important to always stay invested trying to time the market is a fool's errand we want to hear from you what's the more compelling argument buy, sell, whatever. tweet us @powerlunch with what you think is best right now. speaking of investment pros, brae let's bring in a few right now

and see what they think about this cole is managing director and fund manager and peter anderson is a chief investment officer with fiduciary trust you need people to stay invested do you find any of the reasons to sell compelling at all? >> i don't from a particular standpoint let me give you -- there's a lot of reasons that are problematic. for example, broadly speaking, what you pointed to about the s&p 500 is true. do not confuse brains with a bull market. we can never forget that you had the gentleman on from t-mobile talking about the great thing with netflix that sounds fine but what could go wrong in broad stocks and in business particularly? everyone talk about woes saying grocery business today or retail or media or so on and so forth, there's less concern and risk with those subjects versus broad index in comparison.

>> that leaves you where >> as brian pointed out, you want to own stocks all the time. that's the bias? we don't hold cash so you guys know that being said, do i want on the market no why? because what it owns what it owns is high price excitement and it's been going at a higher price in a narrow way. excitement being tech. very expensive activist led staples and things like that >> you say buy specific stocks >> or just what is the market made up of what's the composition of the s&p 500 to brian's point about how well the market has done and what's that been led by? >> don't be greedy that's the argument is that you made a lot of money. why not take a little bit off the table. there's a lot of stuff out there. north korea. all these other things delevering, debt ceiling fights, take chips off don't sell everything. can you counter that >> listen, i love your list, first off. i think it's very simple easy to understand

it does get to the heart of matters. i also think that some of your reasons to sell could actually be reasons to buy and that's what makes this market so exciting for most of us, right your valuation, for instance, if you look at the shiller adjusted pe, that's a ten-year trailing adjusted pe ratio. that's going to roll off the lowest years of earnings will be rolling off very shortly and then that cape might actually not look so bad after all. so you have to look forward a lot and say some of these ratios look a little bit pricey as you move forward in time and drop off some of the lousy earnings periods, maybe things won't look that poorly >> peter, you first and then you, cole, have either of you done anything that you would describe as defensive in the portfolios you run and if so, what was it? >> okay. well, the first thing is for private clients, we always try to educate them that, you know,

risk is most important you don't want to lose what you've made and so fixed income although it isn't very exciting but when you have investment grade fixed income upwards of say 20% to 30% in a portfolio, it does act as a very attractive hedge for balancing out all of these pros and cons, right so, for instance, if the economy or if there are international geopolitical risks that actually accelerate even more, you will have a nice buffer in there to protect you. certainly you want equities in there to take some alpha out but in terms of being defensive, you can't really beat a simple bon ladder if you want to keep in the premise of being simplified here, invest in a simple grade bond ladder and that should take care of things on the risk side. >> cole, have you done anything defensi defensive? if so, what. >> getting away from excitement. if valuation is a problem for the market like brian laid out and the possible problems, what

could cause you to do much better than what people are doing with their money right now? walgreens has been in a spat with rite aid. walgreens is a consistent business they do pharmaceuticals and convenience store. it's a simple business you don't have to pay proctor & gamble style variables >> you're getting 1% on a year >> in a year that's narrow for stocks that made good money. markets have gone to higher hands with a handful of players leading the game >> i should have put that as a risk >> it is so here's a question what causes that to flip or what if we get in a situation where there's consternation for the broad index and other stocks make great money in a tough market >> have to leave it there. thank you very much. if you thought hurricane harvey was big, check out irma this monster category 5 storm is

working its way toward puerto rico, the caribbean islands and florida. a state of emergency already declared there and evacuations are under way. what the airlines are doing to what the airlines are doing to prepare for this major stormes. okay. our thinkorswim trading platform aggregates all the options data you need in one place and lets you visualize that information for any options series. okay, cool. hang on a second. you can even see the anticipated range of a stock expecting earnings. impressive... what's up, tim. see options data like never before. with thinkorswim only at td ameritrade.

airlines bracing for the second and potentially catastrophic hurricane in just a few week's time. phil lebeau is in chicago with how they're preparing. >> they're preparing by eliminating flights or preparing to eliminate flights and offering travel waivers for those that want to change their ticket and not pay a ticket change fee here's what we're seeing as irma churns its way through the caribbean. so far for those airports in the region, about 243 cancellations so far today carriers are waiving their ticket change fees not just in the caribbean but also if you're looking up into miami and other parts of florida the flight impact in terms of what flights might be canceled in the florida area, we're

likely going to hear about that over the next couple days certainly by friday you'll start to see some flights that are eliminated there when you're talking about miami, remember, it is the fourth largest hub for american airlines that stock, like a lot of the airlines stocks, has been under pressure over the last month or two. speaking of pressure, look at shares of united airline this is an airline that warned that passenger revenue was hit hard by harvey the airline says that passenger revenue down 2% to 5% for the quarter. they were expecting it to be basically flat for the quarter more than 7,400 flights canceled in that houston area and surrounding airports because of hurricane harvey jet fuel is one of the other factors that's weighing on the bottom line not only for united but for all of the airlines. look at the rise in jet fuel basically up more than 30% if you go back to the beginning of july bottom line is this, guys. for those who have traveled

plans to florida if you haven't already canceled them or think maybe the flight will get in, you'll hear about cancellations to florida airports in the next 24 to 48 hours >> phil lebeau, thank you very much let's bring in seth, managing partner at airline weekly.. if you are to pay -- that's just summer/demand what do you think, are airlines taking advantage here? >> well, to be clear, they don't root for something like this an airline like americans, if miami gets a direct hit perhaps there's hundreds of millions, spirit and jetblue, even greater exportius. in the end, yeah, it becomes an auction for the very few seats that are left.

sudden those are the rare seats that are left. it is supply and demand economics. >> are they adding capacity, seth >> you know, american has said where they can, add it, but there's not much leverage to do that airlines will be trying to get airplanes out there. unfortunately because this is normally a low-demand period, i looked at the schedule today earlier, this is than they did last week. last week was labor day. i think -- less supply, and add it all up. it's a bad news already. >> this may not have just crossed, but i got it.

they're obviously saying we're going to cap prices, so kudos to jetblue, why won't other airlines to do that? >> but try to find a seat on jetblue. it's very personal for me. that's where most of my family and a lot of my friends of you can't find very many seats available at any price they would have sold all the seats for much more, and sort of grab everything. so yeah cuto and finding those seats available, there is not much out there. the wall street llcas you need to hear about today your daily dose of "street talk" is next.

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age opportunity to create -- as for amazon, they need distribute bias poets, so they can was this in and try out alexa devices. >> are they putting the elephant in the room? the second stock is value month trying the small cap, it makes things like the fake cell phone tree towers and sports lighting, irrigation equipment, seaport global starts with a buy rating. they said that -- are trough levels, they have started to get better, so trades at a discount to the peers, but the analysts notes that even the margins are about the same as the peer group. by the way, that 160 target not a lot of up side, about 11%, but

value month getting some love. >> certainly is. thank you. track and hurricane -- and preparations in florida, we have the latest on this massive storm. first, though, news from the fed. the beige book is out in two minutes. the second hour every "power lunch" is straight ahead ven tro. thankfully, the breakthrough in prevagen helps your brain and actually improves memory. the secret is an ingredient originally discovered... in jellyfish. in clinical trials, prevagen has been shown to improve short-term memory. prevagen. the name to remember. wherwhere we always welcome you, that's texas.exas. where we always find a way, that's texas.

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the beige book is being released and s&p 500 and nasdaq higher, the yield on the ten-year note as well, let's go to steve the economy responded as a moderate to modest pace. that's a slight upgrade. consumer spending increased. there were gains in non-auto and tourism but autos were mixed, there was enconcerned about prolonged slowdown in auto production it was too soon to say too much about harvey i'll come back to that in a minute, but some of the comments i'm going to make are sort of

pre-harvey comments. employment slowed on balance, and i want to give you some details. labor markets were tight -- employers in atlanta, st. louis and minneapolis, all turned down work because they couldn't find workers to do the work there were reported worker shortages in numerous industries, but especially in manufacturing and construction, something that might weigh on the rebuilding effort in harvey. there was, however, limited wage pressure and only modest to moderate wage growth i want to real you something particularly from the atlanta section, where they said employers are offering non-wage incentives -- more vacation time, training, education, and get this quote, they were increasingly focused on social responsibility initiatives and support systems to encourage work/life harmony. that's the first time i have

seen work/life harmony in a federal reserve document they did say they non-wage efforts were kind of running out of steam, so eventually there would have to be wage pressure let me go on a second to brought disruption along the gulf coast, but the impact at the time was august 28th and before, a fifth of olympic and gas production was off-line. >> i believe some of that has come back online and then a series of bank regulators put out a statement regarding pending hurricane irma bank regulators are urging lenders to work with their borrowers who might be affected with their ability to replay when it comes to loans that were out there.

>> a lot to chew on there. good to have you here. you just heard everything that steve said what struck me the most was worker shortages, particularly in manufacturing and construction, and yet limited wage pressure. >> yeah, this is one of the characteristics of this recovery, right? i really believe what we're seeing here is sort of a continued lack of animal spirits. i often use the example, not to blame the airlines for this, but no airlines in the u.s. has bought the airbus, because they're all too afraid to phi a half he half-empty large planes. >> you see that as a metaphor across the country >> i think that's a metaphor as steve was just saying companies are turning down work even if they raised wages, but they would rather decline the work and keep the wage they have

urchltsds is that a bad thing? >> not really. what you have on the other side is a economy growing as a very moderate rate, which means moderate inflation, low interest rates, which means this could be a long expansion >> steve, the part about workers happiness and life balance, is that them trying to please millennial >> i think so. and support systems to encourage work/life harmony. i just got to say, my reaction, i've been do this for a while, if i had read this report this beige book ten years ago, i would be screaming this is the preconditions for the federal reserve to raise rates, but because this connection from inflation and low unemployment looks to have been broken, because we have

lived through this extended period of mottest wage growth, there's -- and also we're living through this period, by the way of low inflation when people thought it would be rising, i would have to back off that idea, but all this stuff is just the sort of soup you would expect before the fed says, we've got to raise rates labor markets are tight. now we hear people lie fed governor brainard saying let's see until we see inflation. >> i wanted to avoid >> two staffs firming cited wage pressure for lower-level manufacturing positions. this is what we have talked about. getting america working again might we be at the bottom-up recovery >> i think what we've seen right now is manufacturing sector of the u.s. went through a

recession at the end of 2015, early 2016, last year we saw a nice rebound, in the early parts of this year so if you look at job creation, manufacturing, the first seven months of 2017, much stronger, but that's the cyclical part. >> lower-level, likely unskilled or lower-skilled workers are starting to get rehired again, that's one part of the economy that had not seen any growth if we soo that firm you said, isn't that a net positive? >> i would say much of that is energy and the cyclical of all those laid off >> what do you make of vice chair fishers's decision to step down >> surprise. i real it this morning, like you all, i assume. i think what it probably signals

is that janet yellen will stay on >> i think it signals just the opposite >> that's my interpretation. >> i imagined them both going together they're very much pair, if janet yellen were to be replaced by trump, i would assume fisher would -- they're both strongly supported of the regulation enacted the last couple years. the reason to replace her is that the fact that he's now not waiting -- >> suggesting that he's comfortable with her inch to me it indicates she has an intention to stay on >> wow. >> did gary cohn get that job, the vice chair of the fed? does that appease him enough >> i don't think he's going to like that. >> well, he was number two at goldman. >> and he left goldman. >> assuming he wants to be number one somewhere thanks very much

steve, anything about stan fisher leaving >> i think it's real when he says there are personal issues that motivate him to leave i think you're exactly right, it does raise this question whether or not it would be better for janet yellen to stay in this context. i think the arguments for her to stay are stability on the board. you would be losing the leadership at the very top in terms of the chair and vice chair. nobody actually sits in for the vice chair my understanding is there would be no vice chair position there. >> so i guess cohn won't get it, since it won't exist >> well, i mean, with the president appointing that person and therm nominated and confirmed. i think it does maybe raise the stake for the trump administration to get on with it if you look at the number of vacancies on the federal reserve. there were two when he came in, stan fisher now will create another one, he's nominated randy quarles, we're still

waiting for that approval to happen in the senate then we have the fed chair's job is up in january, so the administration tube spending an awful lot of time in the november/december period thinking about the federal reserve and what kind of central bank it wants. >> there's a lot to do thank you, gentlemen turning to the markets now, stocks are moving higher following yesterday's meltdown let's bring in steve and patrick. guys, good to have you here. steve, why do you think we're having this reboundtoday is it as simple as the agreements we appear to have gotten about raising the debt limit? >> i think that's exactly it i think yesterday there was some considerable concern we were going to have massive dysfunction with republican leadership again. >> today that's all been put to bed. government funding will happen, and it's the silver lining in

the cloud that was harvey and about to be irma is that politicians realized they're going to need to fork out some do you to make sure people are okay i think that is, you know, helpful to the market to see some leadership and some -- stuff he actually get done some could argue that this really shows tremendous market resilience it really hasn't been too bad. is this truly in your view of buy the dip sort of market >> yeah, i don't think it's necessarily i think in many ways it's a short attention span. maybe things are fine again and people are moving on, but i don't think it's resilience so much as people just bouncing

from -- that's the politics right now. long-term investors kind of have to ignore the noise. >> is that what you are doing, patrick? >> we're trying to value businesses, good companies or bad companies, because a lot of what we're seek out there, harvey is a real tragedy obviously irma is a bick hit on florida, that would be two major cities hit in about a week's time warren buffett said there's a storm coming, so i'm going to

buy geico and sell -- we are seeing values in a number of areas. >> steve, what do you like in this market? some stuff, small lenders, mlps are incredibly cheap many aren't really attach to commodity pricing. everyonic that different, trading at sing of-signature multiples of earnings, so there's a whole lost that we like >> one more thing, the market is expensive. i know there's some minor changes around the edges but as

long as it stays this aggressive stocks will stake this aggressive a lot of what is happening is just noise >> okay. guys, thank you. steve makoukka and patrick keizer hurricane harvey caused brought economic disruptions now we're bracing for another storm, hurricane irma, a massive category 5, with sustained winds of 185 miles per hour, perhaps the most powerful storm recorded in modern history. joins us is mariana atensio >> reporter: the governor of florida already comparing it to hurricane andrew, which devastated south florida 25 years ago, saying irma is more

powerful than andrew and the winds are faster than andrew as as well for now. and as you can see behind me people are already making preparations the mayor of miami beach has already handed out a,000 sandbags to residents. today they are continues that effort, handing out ten sandbags per resident here people are also loading up on supplies, water as well as gasoline, but this is just the southern tip of miami beach only has two gas stations we're already seeing long lines for people to load up on feel. >> they should just heed orders,

saying there's a volunteer evacuation order at the moment, but his advice get out of beach if you can it is possible that miami beach county will already be following suit as well >> thank you mariana. coming up on "power lunch", the staggering amount of the money that boeing expense to bring in. guacamole and orange juice will soon cost more, and facebook says the ads can reach more young people than the u.s. cent us says actually exists all that and more on "power lunch.

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boeing predicting very big things out of the china, the 20-year forecast expecting china to buy more than 7,000 planes with more than a trillion. that's between now and the year 2036 that's near 20% of what boeing predicts will be word wilde demand boeing is aware that it's making its own plane. it looks like a lot like a 737 >> let's stay global

india 18%, korea 14%, s&p 500 so is it too late >> no, if you think of the chart emerging market index, it was down a 4% now it's taken back about 16%, so em drastically underperformed, the fact that the fed is moving slower, but you've seen an eps recoveries. usually what happens, people sayate by the end of the year it's ratcheted down. it's actually going higher, mid to upper teens, and i think some of the high-growth markets are justifies the -- examples of where people overreacted to the

politics and most importantly the assets were very, very cheep. that will be a very different moment >> would you buy an etf or index that tracks the cost fee what people may not understand is this particular index is mostly a handful of stocks >> yeah, but. remember a lot of the exposure is on the export side look alternate where the cost ventured to almost down even on month, the worst parts of this

nightma nightmare, at least so far >> last question, would you rather s.p.y., or e.e.m., the emerging markets broadly >> absolutely eem. it's this -- i believe in mean reversion trades that take place over a very long period and we've been thrashing around on this e.m. has bottomed, so it's not a question for me. >> it meets e.e.m. gdp that much stronger. coming up, a popular sports talk show host arrested, accused of stealing millions from investors in a phony ticket reselling scheme

cleanup is under way tagging along with a garbage truck. morgan >> reporter: hey, tyler, that's right. take a look at this. this is the scene in houston right now. the floodwater might have receded, now historic levels of trash. we're going to be telling you how all of that is getting removed, what it all looks like on the ground, when "power lunch" returns ♪ some things are simply impossible to ignore. the strikingly designed lexus nx turbo and hybrid. the suv that dares to go beyond utility. experience amazing.

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morgan brennan is with a garbage truck that has a lot of work to do >> this is the scene on the streets. so as tens of thousands of homes have debris piling up, and beginning to rot in the texas heat, you have the city of houston's solid waste department getting to work here these guys have been starting to

remove the wreckage for a week now. this is to move what is sure to be an historic amount of garb an city and county officials are looking at 8 million cubic yards of debris just from this storm, so this team is run by jeffrey williams he says this crew, just them, they are filling up 28 tractor trailers per hour. so williams says that this is all going to the city's handlefills for that reasons, all of this will take months they do a pass on this street and they come back three to five more times they're waiting for insurance adjusters, then there will be all the waste generated from when the rebuilding actually gets under way so all of this, the city of

houston expects is going to cost upwards of $200 million. they're not doing it alone san antonio has a fleet here, and austin's fleet is expected to arrive tomorrow back over to you. >> thank you very much popular sports host craig carton arrested for allegedly raising money for investors for a business, but then using that money to pay off gambling pep debts instead. a lot of us listened to this station, jonathan, in this town, and a lot of people know it craig carton >> they do he 'expected to away in according a short white. he's charged with helping to run a ponzi scheme he was arrested as noo it's

alleged he tried to steal millions he lied claiming he could get first fib on hugs he allegedly drew up bog gus paperwork saying he could sell the tickets at huge markups, but the feds say it was all a scam. there were no tickets, just the fraud to help pate off his gambling debts he's charged with could secures and wire fraud in all he tried to steal more than 5 million, and others allegedly tried to pull off a similar scheme with tickets to "hamilton. they were joking about how his co-host had called in sick carton expected to appear in

federal court later today on the charges that he tried the scam to pay off the scam bling debts. >> do you know how much time he could face if convicted. >> i think some of the count care -- you obvious seen anywhere from $2 to 5iers, but it's still early on. >> thank you very much, jonathan dienst that i can a look at hurricane irma as a seen from space. the 18 a-mile-per-hour winds have already palm meld st. maarten. it is the strongest atlantic hurricane ever recorded. puerto rico feeling the effects of irma. heavy rain began to fall the storm is expected to hit the island this afternoon, and it will pass near the cost of the dominican republic and bahamas

tomorrow. spanish authorities say that spanish and moroccan police have dismantled an islamic terror cell with a high potential to carry out an attack. police arrest the five moroccans and the span yards think sea they held secret at the night meetings where they planned attacks. nissan is releasing a new electric car it plans to start selling the new leaf october 2nd in joopen the ranges listen extended to 250 miles. the starting price tag about $29,000. you are up to date brian, back to you. sue, thank you very much holy guacamole there's a huge jump out there in the price of avocados and orange juice. how these food costs might play out. will companies like chipotle get squeezed "power lunch" will be right back

hey, i've got the trend analysis. hey. hi.

hi. you guys going to the company picnic this weekend? picnics are delightful. oh, wish we could. but we're stuck here catching up on claims. but we just compared historical claims to coverages. but we have those new audits. my natural language api can help us score those by noon. great. see you guys there. we would not miss it. watson, you gotta learn how to take a hint. i love to learn.

welcome back we have news here in the retail sector toys "r" us cnbc has learned has hired a law firm to help it

restructure the debt that's due next year in 2018. as part of this consideration and perhaps process, toys "r" us is weighing the possibility of filing bankruptcy -- this is nothing certain here this restructuring all comes ahead of this real holiday season that's coming up here in the fall and in the wintertime it's important to note, this kind of move does not lead to -- we are seeing shares of some toy makers react a beit by the way, if you want more on this story, the full text and context up on cnbc.com, so certainly a story if you're on the retail side of things that you won't want to miss. thank you, dom stocks with a bit of a comeback right now take a look at the

dow, up very nicely. glee the s&p 500 up about ten points i have to get my glasses fixed here energy the best-performing sector as crude hits the highest level in about a month >> you see the numbers right there. hewlett-packard enterprise is lower, and here's what miggen whitman had to say recently. >> i wouldn't call it fat. we've done a lot of cost reduction, but we have perfect visibility into a much smaller company and more focused that has three lines of business. it has our server storage

networking business. it has our edge business, and of course our services business so we are now rearchitecting and reengineering this company to be fit for purpose in the market in which we have to compete and win. >> and the stock has lagged the markets this year. it is up only 1.5%. another big interview tomorrow on cnbc, a rare interview with exxon mobil ceo darren woods, nice and early at 6:00 a.m. on "squawk on the street" -- "squawk box." key orange jewel producing regions in florida talking about this is virginia mcghaithie. we have seen this before what are you seeing this time in terms of this market >> well, this is a bit

different. i think there's tough times ahead. this hurricane is so big it could hammer the entire peninsula, devastating the orange groves across the state they're struggling with a disease they've had for almost ten years, where the oranges fall off before they're ripe last year was the lowest output since 1964, so any damage will devastation anything we can see the marge marketing much higher. there's going to be a handle of orange and -- and that's why all the prices are higher. the one thing about traders like

yourself, you have access to a lot of different data people probably don't realize what are you expecting about the likely path of irma? >> they're expecting it to hurt florida. whether it comes in from the east or west side, i think we'll see some terrible damage this is something like we haven't seen in the history of keeping records here all bets are off so everyone's world that it's going to be as bad, if not worse. in that happens, who knows where it's going to go

>> thanks for having me. avocado prices are also spiking up giving that americans' avocado consumption has quadruples in the past 15 years, what is the impact on a business like chipotle what happens to a company like chipotle? do we sieve an avocado surcharge on the menu? or do they just eat that cost, so to speak? >> my suspicion is they're going to do what's right to the business they have dealt with supply shortages from time to time. if there's a short an, they may invest just put a sign up and essentially indicate that. will they add a surcharge? i doubt that customer traffic is very dear, very hard to come by

in fact chipotle is on the cusp of laumplging a new queso, so they may get a benefit as they shift for demand from the guacamole and actually add, you know, queso instead. >> i have leadership today that the avocado is a fruit i did not know that the could you redruce prices if you described it as a veg stable i'm just kidding there, but at any rate, what is the long-term sticking price of these avocados in other words, is this a temporary blip, or something more enduring? >> right now it's the perfect storm lifting the prices it's a shortage in california because of the droid, a shortage of avocado coming out of mexico and a very, very strong demand

i think, you know, there's a capitalistic reason why they growers want to try and be a lot more fruitful, so to speak -- >> good for you. >> bob, you're the second analyst to bring of this queso thing. tuesday is delivering alpha, also a distant second when they launch the apple iphone and then there is in queso, a new product that everybody seems to excited about. is it cheaper for, people say they want quesos instead of avocado? >> you know, yes, it is, the upcharge typically to add guacamole is around $2 typically to add on a scoop of queso, it probably will be about 1.25 i think given the newness of the queso, the advertisie ining efft the company put behind it, i

exact the trial will be very strong i think it's a lot better directionally for the company. >> bob daring ton, health advisories. >> news crossing reuters, that they have seen a draft versions of the new sanctions that the u.s. wants to impose part of it includes an oil embargo on north korea if that were to be true, if it were truly enforced by china, that would be debilitating for the country, maybe it's one of the things that might finally get them to the table. let's see if it passes a lot of caveats some of the strategies we have had heard about include literally shutting off the power in north korea, perhaps to damage some of their systems or fuel remember, a lot of the food products coming from china through us as well, but that goes against the people.

>> check this out. the major etf so far this year we'll tell you what it is and ask the trading nation team if you should buy it next on "power lunch. hey gary, what are you doing? oh hey john, i'm connecting our brains so we can share our amazing trading knowledge. that's a great idea, but why don't you just go to thinkorswim's chat rooms where you can share strategies, ideas, even actual trades with market professionals and thousands of other traders? i know. your brain told my brain before you told my face. mmm, blueberry? tap into the knowledge of other traders on thinkorswim. only at td ameritrade.

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the best-performing large etf is the xbi it tracks the number of biotech stocks, but is it still worth your money david, it's the kind of etf i don't like a company about 20% had to be highly volatile, smaller and mid cap biotech stocks what's your view on xbi? it really shifted gears, shifted the narrative, so investors feel very confident right now to go out and buy some of these names

now they're bolding on some new prospects for growth, so in my opinion it's warranted, sure, ultimately i think you own the ibbs here over xbis, i think the performance gap between the two will close, but look at a five-year chart. very bullish views by the way, kite pharma, and they're getting bought out matt maily, david see burg, obviously still ot mickics on the bxi. it's interesting, on the fundamental side, concept securities has this data point they put out regularly, talking

about patient demand that's popped nicely this year including the most recent quarter. now, as david said, the group has had a nice run here plus the fact we have the longer-term chart, the higher highs and higher lows, but other than that, it's been going very nicely the whole group crashed after hillary clinton made comments about pharmaceutical crisis. the reason for that is that the run-up to that group, the group rallied 80% less than 20% for the s&p, so there was a lot of

leverage a lot less leverage. you won't see that big -- >> matt maily, david see berg, thank you. >> bless you, michelle for more trading nation, head to our website. coming up mark zuckerberg and james bond -- that's not the guest list for a party at me will issa's house. it's a power lineup for a power rundown. that's next on "power lunch.

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with the first topic, facebook claims its ads could reach 41 million americans the census says there's only 31 million such people. julia, these numbers don't add up >> the numbers don't add up, and pivotal researcher released his report on this today

he said the numbers will frustrate advertisers, they'll probably go ahead and spend a lot of money on facebook, but this could provide opportunity for television, to show how valuable their ads are facebook pointed out that their estimates don't actually impact how much advertisers end up paying, but reach estimationses are based -- >> location data from devices and other factors, they're designed to estimate how many people are given, they're not designed to match population or census estimates they say we're always looking to improve our estimates, but there is a pretty big gap between what the census found, that a number of people in that age demographic, and how many people -- so you have to wonder how many people are overestimating. >> you wonder if advertisers will be fed up with this facebook metrics

it's another question of how they measuring >> yes, it was a year ago september, it was almost exactly a year ago that their first miss measurement issues came out. there's been a number of issues since then the statement didn't seem to directly an.idea >> people on facebook often self-report their age, so they can say they're older than they are, so, facebook has pointed out in the past that they're targeting ads for people visiting, our multiple accounts with multiple devices, in other words you log on as your cell phone and computer maybe that's a part of it. >> apparently if you log on the

same person, it doesn't matter how many devices you are, the question is whether you have different accounts for the same person someone saying they're an 18 years old when they're really 15, and then a real account as well. facebook willing to pay record labels for the rights to their music, what does this mean, julia. >> this does not mean that facebook is looking to launch a facebook streaming service what this is really about is foye poib wants to make sure that it can pay copyright holders whenever users uphold videos with music on them. right now facebook has different rights management systems in place. if someone uploads a home video, a wedding video with the songs on it, because they then facebook has to pull that video down obviously that's frustrating for use userses so if facebook would just pay hundreds of millions to the music labels, then what they could do is make sure that

people could upload songs and be able to leave them up there. facebook is really investing in video. it wants to be a real destination for video, both professional created and use generated. investing that kind of money would help with that. >> finally apple and amazon going after the streaming rights to james bond movies tell us. >> the james bond movie rights are up for grabs this is one of the few movies franchises that isn't owned by a major studio it's owned by mgm, but mgm had a deal that expired with sony. fox and warners brothers, have all had conversations wanting to invest and now we're hearing records that apple and amazon are also having conversations about these rights, and the thing that james bond, is it could be huge outside the movie business, and it's really considered a huge untapped brand, particularly when it comes to television and merchandise. no word from apple, amazon or mgm on these reports, but if

these digital players bought these rights, it could be a game changer in terms of defining how apple plays in the movie business. julia, thanks very much. leading us through it all. i like that. well, thank you so much for watching "power lunch.." >> "closing bell" starts right now. he's on his way to north dakota. >> say that three more times trump made a deal -- >> with the democrats. >> pelosi and schumer. yeah -- >> on a deal that paul ryan, the house speaker said was