all right. final trade time pete, you have unusual. >> nuanced january 16 call stock was lower. keep an eye on it. i bought him today. >> short uk stocks. >> phillips 66 is going down. >> keep buying marriott. >> that does it for us thanks for watching. power lunch begins now. >> here's what's on the menu the battle to be the fed head. a group of house members asking president trump not to reappoint janet yellen we'll find out why and what impact it might have on your money. the opioid crisis. the president expected to declare it a public health emergency. you'll hear from a former wall streeter set to tell you about his experience with addiction and how he's helping in the recovery efforts plus, the morningstar mirage the "wall street journal" slamming the star rating system. morningstar defending itself you will hear from their head of research about it. i'm brian sullivan power lunch begins now

>> welcome to power lunch. i'm melissa lee. stocks are trying to hold on after yesterday's pull back. in the red here as we await earnings from technology earnings stories of the day here, nbc parent company comcast reporting an eps beat but missing on revenues. the stock down a percent at this hour southwest mising on revenues the stock was higher but went lower in the last few minutes. celgene down bigelowering the long-term targets for next year. the index is on pace for a seventh straight day of losses dunkin brands just shy of estimates but comp sales did rise anheiser-busch profits down 2%

>> thank you very much, melissa. stocks holding onto gains in midday training. a host of large companies pulling away we begin with the opioid crisis. president trump will speak about the crisis in a few minutes from now. let's go to eamon at the white house. >> he'll speak in the next hour here at the white house on the opioid crisis. the president said it would be a core element of the presidency focused on the devastation that's hit middle america. the president will call it a nationwide public health emergency. that's short of declaring a national emergency which would allow access to federal disaster funds but says this will provide expanded access to telemedicine. it directs the labor department to issue grants and allows substance abuse treatment within the existing hiv/aids program.

that will be a big element of the president's day today. we are waiting for any announcement that we might hear on fed chair i have been talking to senior administration officials they say all five candidates are still being considered although you get the sense that gary cohen is the longest of long shots on the list of five at this point i'm told by sarah huckabee sanders she's not expecting an announcement today we can engage in speculation for at least another 24 hours on that one meanwhile bob corker in focus. he was on squawk box this morning. he said he's all in on tax reform that's important because some thought he might be a deficit hawk who is wary of the deficit implications from tax reform here he says he does have concerns about what's being planned inside the bill. here's what he said. >> we are doing a lot of things that aren't pro growth it's unfortunate

it's a buying off of people to pass tax reform. i hate to say it that way. >> he hates to say it but he did say it that way. that's the one caveat on corker. he doesn't like some of the process here going on within tax reform he said he's all in and wants to see a tax bill done this year, tyler. >> thank you very much ayman javrs at the white house. >> tax reform taking a big step forward as the house approves the senate's budget bill now more from d.c. >> this is huge for republicans. it gives them the legislative vehicle they need in order to pass tax reform on their own however, this vote was a squeaker, 216-212. 20 republicans voted against it. 11 of them were members from new york and new jersey who were concerned about the potential elimination or limitations to the state and local tax deduction.

i spoke with representative pete king in the hallways he said he met with house ways & means committee member kevin brady and members of leadership to discuss getting back to him with proposals he said he's unsure if anything other than keeping the deduction will be enough to win him over this is the balancing act for republicans as they try to keep special provisions to placate members like pete king they risk losing conservatives like house freedom caucus member dave brad. >> that will be the bra ma the swamp will enter immediately and want all the sweetheart deals, right retain in our leadership and all of us we have to say no way, jose. >> brady announced november 1 will be the roll out for the tax bill and then the house ways & means committee will be debating that bill november 6 >> thank you very much the race for the next fed share

is heating up as janet yellen's term expires february 3. three republican congressmen urged president trump not to reappoint her. one of them is warren davidson of ohio. he joins us now. glad to have you with us why do you oppose the reappointment of janet yellen? >> she's a nice lady, but it's about policy really. i don't think janet yellen would be a great successor to herself. >> what did she do wrong >> she hurt our growth rate. the international standards that the united states has agreed to because of the fed, it is a central banker deal by and large. the standards are being interpreted and applied in a way that hurts working capital they are putting the working capital as if, say a line of credit for a household, somebody has a credit card. you don't use the entire balance available normally but they wanted banks to treat

the regulators as if companies were using the entire line when that happens they have a lot of liabilities that aren't off set by assets. fundamentally companies are pushed to grow at a slower rate because they don't have the same access to working capital. this is a big untold story and a big part of why the growth rate has been ham strung at 1.5% until this year. >> steve >> representative davidson are you saying the fed is acting illegally in signing on to bazel 3 accords. >> not entirely illegal. >> somewhat illegal? >> well, here's the problem -- >> is the fed acting within the mandate of congress or not >> i think they are stretching the limits of what their charter is essentially they are binding us to a treaty that isn't a treaty. so the net effect of what their application is has been at the limits of what may be permissible. here is the reality. it's not been effective whether it's legal or not.

what they have been doing is essentially crossing the line into fiscal policy the monetary policy has a lot of attention. taylor is on the list and the taylor rule got a lot of characterization -- in my opinion mischaracterization. it's the president's choice and the senate gets to weigh in. the house doesn't have a say of course we have an opinion >> do you think, congressman, to be fair to chair yellen ben bernanke may have done it? alan greenspan may have done it. we don't know if other fed heads would have taken the same action is it fair to put it on chair yellen >> no, it's not. frankly it's not a single person's decision inside the fed. i think that's why we are pushing for a different direction there. >> shouldn't you be pushing for additional congressional limits on the actions the fed ka take you are arguing the fed acted

illegally or conceding that it acted within its congressional mandate. if you're not happy with the actions then the right solution to that, if i'm not mistaken, is additional congressional limitations. >> well, we are working on -- >> anybody could be doing that, as brian is suggesting. >> you are pushing a false narrative that there are only two chiess here. -- choices here. we will be pushing but there is a choice of leadership you can discover how a leader will go during the interview process. my hope is we can go a different way. janet yellen is a charming lady, really enjoyed the interactions i have had with her. i think we need to take a different course on the regulatory guidance that the fed has been driving. >> some people would agree with you at least from this point on that perhaps some of the capital requirements placed on banks should be loosened up. i'm sure the banks would argue in that favor. for the fed's massive balance

sheet we are at the beginning of the unwind of that would you have recommended that we rip off the band aid and started to ease right away what was the alternative course here aside from the course we have been on, which by the way allowed for the stock market to reach record iegs? >> it has driven, you know, everything about this has driven the market to be high. some people feel that this is an asset bubble in a sense. it's driven demand for equity. it's destroyed debt as a market, not just by the low rates but by the application of the regulatory framework in terms of crippling some of the working capital requirements everything about this juices the equity market. some people have stronger beefs on that. but i think the alternative, once they did make the asset purchases that they have done, particularly in credit risk transfers, i think they are doing a fine job with that they are not surprising the

markets. they are unwinding it. they are doing it in a way that's telegraphed whether they should be in the position or not -- >> your beef with chair yellen focuses on basel-3. >> not on anything else? >> the letter signed here makes a point of pointing out trillions of dollars amassed on the balance sheet, but really it's basel-3 >> i wouldn't say it was a great idea to do some of the quantitative easing that's been done and the asset purchases done to the scale they have been done i think it's past time to begin unwinding them now that they have committed them to do the unwinding i think they are smart about how they are doing it. they shouldn't be surprising markets and dumping these. that would distort long term rates in particular. >> do you think the economy -- let's separate the economy from the casino of the stock market do you think the economy would have been better off if the asset purchases had been more modest and interest rates had been higher rather than staying

as low as they have over the past eight years >> i do. particularly on the regulatory framework. if you allowed a debt market to form and you had been less restrictive on the back end with the regulatory framework working capital may have been more accessible and small and medium businesses which drive the growth rate would have had a better path toward growth. personally i experienced this before i was a member of congress i had a banker say you were growing 20 plus percent. why not grow five more percent and play golf? i don't want to play golf. i want to grow companies you propagate the message to end up with a 1.5% growth rate. >> interesting conversation. representative, thank you very much for being with us. >> thank you. >> hope to have you back soon. let's dig deeper into the president's upcoming decision on just who might lead the fed. joining us is former dallas fed president richard fisher sit tight for a second i want to ask steve a question not really off topic but it is

relevant this is incredible the amount of seemingly contradictory reporting from good companies i'm not knocking anybody. >> good news out there. >> one time you read chair yellen is out. a few hours later, chair yellen is in. why do you think tlgs so much confusion and back and forth about the fate of chair yellen. >> there are people close to the president who know the president's thinking who have different interests in the appointment of a new fed person. there are people who want a supply side fed chair. a person who is not going to oppose publically or in monetary policy what they consider to be supply side tax cuts there are people you just heard like the congressman there who have interests that are really interests of congress but ultimately affect the fed in deregulation there are different groups putting their candidate forward. >> maybe. >> and they are all in the order of the president one thing that matters is the one person i talked to inside

the administration or a person inside the administration who i talked to said there is only one list and it's in the mind of the president. >> that may be it. richard, that's what i was thinking about maybe both stories are correct do you think there is a situation where the president is saying, you know what? i'm not a fan of yellen, let's move on. maybe he meets with her and says, she's not so bad so both stories are accurate the president's mind is changing >> well, we have no idea this is a mugs game. i want to go back to what the congressman said quickly in terms of the regulatory framework. that came out of congress. that came out of dodd/frank. >> congress. >> it was congress we would have grown much faster with this accommodated monetary policy had there been incentives, regulatory but mainly tax and fiscal that would have complemented monetary policy so he can criticize the fed all he wants, pick a little issue like this business the real issue has been congress has not served the american people and they are starting to

do so. if they don't get tax reform through he should point his finger at himself. let me talk about the three candidates and about janet you know, i think janet, as steve and everybody else knows i was impatient, would have moved quicker. the one thing the congressman said i agree with which is that janet has done and the fomc did a good job on the unwind not creating disturbances. they stated their intention, stuck to it, will move again in december they started to unwind the balance sheet. the numbers are palatable to the market i think she's done a good job. i look at it as a risk manager if i were in her shoes and i could wear her flats, by the way -- she doesn't wear heels -- i would say do i want to stay? there is no upside for her to stay she's done a great jo. is the most powerful woman, maybe ex angela merkel in the world. even the president said she did

a good job she engineered the exit and got it started a plus she can be chancellor of any university, be a professor anywhere, be on any boards she has a brilliant future and she'll be much heralded. i would look at her side saying would i want it if offered it's hard to say no to a president. john today lar is uber experienced. he would walk in with other central bankers. jay powell, experienced, mature, former under secretary of the treasury done every job you can do as a governor the international side being a point man for the federal reserve banks would be brilliant in the job in terms of kevin, that's a hail mary pass. he's 47 years old. a young guy. not as mature or seasoned. my guess, by the way is if i were kevin i would be looking at the new york fed and i will tell you why. >> i'm sorry >> the new york fed is vice

chair of the u.s. fomc they outnumber the votes of the governors. say you get -- john taylor is perceived as a hawk or jay powell more hawkish or whatever. the new york fed has a permanent vote they rotate the other four votes amongst the remaining federal reserve banks. they have more votes than the governors. that means simply that they are invested in the course that we are on right now bill dudley is a key figure. it will take -- no matter what their orientation is >> i completely agree with the assessment of each of the candidates my problem here begins with what the congressman said that what we are trying to do is legislate monetary policy through personality. if we have a problem with the way the fed operates, we ought

to pass legislation that dictates how congress and the president would be happy over how the fed does policy. >> steve, i completely disagree. this isn't what congress should be doing. >> it sounded to me like a congressman that didn't have the support for the independence of the federal reserve. >> right this is a dangerous thought. it comes from the right, the left we saw with the bernie sanders side of the senate, the congressman from east texas. they can't hide their own shoes or put together a budget you want them to run monetary policy this is something that's a dangerous thought. i know he doesn't mean it that way. >> if the congressman doesn't want the fed to buy mortgage-backed securities he can specifically legislate that. >> exactly. >> the credit purchases made by the federal reserve were within the purview to purchase and the

amount and the other actions it took i'm fine with prohibiting that it was within the law. >> it was a one name answer please we all want to retire. the viewers want to retire some day. tyler and i want to send our kids to college. who is the best person for the stock market not your preference. just for the stock market. >> steve liesman. >> come on taylor, powell, yellen >> taylor and powell are equal in my mind. >> thank you. >> steve, thank you. >> thank you >> we were told we are going to be told before november 3. >> that's next friday. >> maybe not i wish i had a better understanding for how the process is going on. is it just the president is there a committee making a recommendation to the president? i don't think we understand that. >> steve, thank you. >> we have a market flash from phil lebeau on southwest. >> let's look at southwest

going back 10, 15 minutes ago, you saw a huge drop in shares of southwest although they have come back a little bit they are down a little over 2.4% here's what happened the southwest earnings call is going on now gary kelly was asked before the stock dropped what's the outlook in terms of costs per available seat mile. the metric in the airline industry for next year excluding fuel he said it will be flat. most people were thinking the cost for southwest would be negative for next year not flat but negative. that's potentially a slightly more bearish outlook from southwest. you add that with the news from the other airlines american talking about its capacity growth domestically for next year along with the alaska call yesterday which was not a good call at all i think what you are seeing here is a little bit of a bullback on airline stocks they are starting to come back a little bit that's likely what sparked the

pull down. not only at southwest but with all the airline stocks. >> phil, thanks. huge day for earnings and plenty of big movers including twitter hitting $20 a share for the first time in three months is the worst over for the stock? we'll be right back. you know who likes to be in control? this guy. check it out! self-appendectomy! oh, that's really attached. that's why i rent from national. where i get the control to choose any car in the aisle i want, not some car they choose for me. which makes me one smooth operator. ah! still a little tender. (vo) go national. go like a pro. whyour boss?ork for? yourself? your family? our financial advisors are free to realize

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welcome back to power lunch.

check out lululemon. they are falling on a bloomberg report saying nike will open yoga pants studios in 5,000 store locations and citing they are looking at nike supplemental documents saying they could be looking to push into the yoga and activewear segment a big effect on one of the biggest apparel companies in the world going after the yoga segment in a bigger way. back to you. >> yoga pants studio thank you. well, today is the biggest day of earnings and a lot of stocks you may own are on the move let's bust through them. buffalo wild wings soaring with better than expected results the new boneless wings promotion is a feather in their cap. charter communications losing investor money today missing analyst forecasts. also saying it lost 104,000 tv subscribers in the quarter down more than that is nokia they posted a net loss, warned of continued weakness in part

because of stiffer competition in china twitter is on pace for its best day in more than a year after the big earnings beat. the country has 330 million monthly active users adding a million in the u.s. where growth was stalled. let's bring in james great to have you with us. >> thank you. >> at last check it was 9% short interest or so are the results really this good >> look. it's easy to want to jump on the bandwagon especially in the bull market if you parse out the quarter what's going on? you have a massive surge in profitability with the ebitda margin coming in above expectations when you drill down on what's happening you have still a backdrop of sluggish user growth priced and continuing to seek a lot of pressure despite the rising engagement. you did have a benefit from the

quarter which was an interesting call out when you put it together a lot of the questions and concerns continue to linger when it comes to the massive surge in profitability. that's the move up you are seeing today >> why do you think the company points to the growth in daily active users but doesn't give the number at all let alone on a regular basis. >> mm-hmm. >> it is the interesting question when you think about the daily active user engagement compared to a company like facebook 65% of their monthly active users are daily. based off of management's commentary it is implied around 40 to 45% of twitter's monthly active users are daily when asked the question, the conversation does tend to shift a little bit as to how high the number can actually go when you think about twitter is it as strong as the utility of instagram? arguably, yes in certain markets. when you think about the mass market i think the answer is no.

>> all right. >> that's why it is easier to talk about the growth rate. >> you have a neutral rating on the stock. james, appreciate your time. >> thank you. >> for years a five-star rating for morningstar highly coveted seal of approval for mutual funds. today, the value of the rating being called into question by the "wall street journal." weluh llonn mpany reaction whe por ncros

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market now as always mr. rick santelli tracking the action at the cme rick >> i wish you were here. it's been a very interesting day. quickly the seven-year note action, i give a d plus. weak indirects the only thing average were directs and the yield 2.28 for 28 billion sevens above the market let's get to the fun stuff dollar index how many times have we showed the chart? look at the 24 hour dollar index. yes, it sliced through 94. look at the one week chart and a mid july chart that drives it home. interest rates on our end are still holding. as a matter of fact, 244 and a half, 245. we keep bumping our head on the ceiling. i can't stress how important a close above that is but it hasn't happened. however, everything spread relationship look at the weakness on the 24-hour boon their yields moved down. from the shots on down

moved down look at mid april. over 200 basis points. even though our ten isn't moving, the spread widening is significant. once again we have seen discussions about janet yellen for the last couple of weeks she's doing the right thing now. our markets are singular in that the auctions were a reject of getting into the complex because we are bumping our heads against significant resistance the dollar keeps going i would be surprised if treasuries don't follow back to you. >> thank you, rick the dow is up nearly 100 points today as we noted this is the single biggest day of the earnings season bob pisani will walk you through every stock in earnings now. he won't but overall can you give us the macro theme of how they looked so far

>> generally better than expected however, the big theme right now is heaven help you if you miss let's look we have nice -- as always, generally more hits than misses. conoco borg warner, beat and raised altria beat. ford beat and raised guidance. however we have notable misses today and lower guidance as well bristol-myers down about 4%. a look at celgene with poor guidance this is the trend now. companies are being punished if they miss. look at the quarter. we have half of the s&p reporting, almost half if you beat on average you're up 0.3% the five-year average is up 1.2% if you beat, you are not doing as well as you used to do. if you miss it's by a bigger number you are down 3.3% on average

the five-year average down 2.4%. the market is not rewarding earnings beats as much as the recent average the punishing misses more and the reason is valuation. prices are high and people aren't as forgiving as they were a couple of years ago. back to you. >> bob pisani at the nyse. a big interview. speaking with brian moynahan we have the highlights hey. >> hi, brian moynahan said he thought the fed did a great job but wasn't that worried about the impact of unwind on the market since he said no central bank will unwind if it hurts the economy. he felt tax reform would be beneficial but seems to imply the benefits were priced into the stock market >> the optimism wasn't fulfilled. that's a good thing. is there danger of a retrenchment if it doesn't pass? absolutely do we need it as a country yes. we need a lower tax rate to be

competitive. we need territorialism and whatever word you want to use. people don't move capital for tax purposes that's good. as you look at tax reform and other things like that, they are important to the country the people will derive expectations off that. if they are optimistic, loans go up. >> i asked him about brexit's impact on london as a financial center his response, the most negative yet from a u.s. bank ceo >> it's not good at the end of the day without brexit overhead we would be out plugging away, working for customers. adding people, bringing teammates into london. it's not good. there is no upside can we avoid the down side >> bank of america shares are up 0.8% today >> thank you very much appreciate it. morningstar's five-star rating

has been -- well, call it the gold standard for mutual funds does it have a bearing on future performance? the "wall street journal" says probably not we'll get a response from morningstar. lots more ahead on perun ow lch when this bell rings... ow lch ...it starts a chain reaction... ...that's heard throughout the connected business world. at&t network security helps protect business, from the largest financial markets to the smallest transactions, by sensing cyber-attacks in near real time and automatically deploying countermeasures. keeping the world of business connected and protected. that's the power of and.

hello, everybody i'm sue herera with your cnbc news update this hour. president trump taking on the opioid crisis. senior white house officials saying he will direct the department of health and human services to declare it a nationwide health emergency. nato allies raising concerns about russia's use of so-called electronic warfare during military exercises saying it jammed phone networks last month. they want russia to be more transparent with war games the russian ambassador to nato saying the issue was not raised today during a meeting between the two entities in brussels greenpeace activists protesting air pollution caused by diesel engines in rome. they are denouncing high levels

of nitrogen dioxide in the air linked to premature deaths. and a children's hospital in puerto rico has power back thanks to elan musk. they installed solar panels and batteries to restore electricity knocked out by hurricane maria a little bit of progress there that's the news update this hour back to you, ty. >> good news, sue. five-star rating from morningstar has been a gold standard usually implying the mutual fund would be or continue to be a top performer. now an article in the "wall street journal" titled the morningstar mirage is calling that theory into question. according to the piece a five-star rated fund doesn't mean what many people think. hear what the company's response to the article is with the head of global manager research at morningstar.

good to have you with us this is a withering indictment of the rating. when they pick up a fifth star half held it for three months in u.s. based domestic equity and those who take the five star badge. a mere 10% earned five stars over the following three years that's the heart of the argument here that the "wall street journal" makes today in other words that the star ratings are not as predictive as many people, maybe even people at morningstar say or suggest they are your response? >> we strongly disagree with the conclusions. if you take a look at some of the findings they themselves reported in the study what you find is highly rated funds, five-star funds are seven times more likely to succeed over a future ten-year horizon to me that doesn't look like failure. it looks like a measure that's tilting the odds of success in investor's favor which is what

we are about when publishing ratings or promulgating research of various kinds again we strongly disagree with the interpretations that they drew in making their assertions in the piece >> they found any fund with an overall five-star rating and you rate them over three, five, ten years and an overall rating that the following five years the average rating for those five star funds was just three stars. >> a couple of things to keep in mind, one is an upper and lower bound. it's five and one respectively things will pinch toward the middle that's the nature of the arithmetic there is the distribution of outcomes over time i mentioned it before. a five-star fund over a future ten-year horizon that's seven times more likely to respond than a one star fund. to us that corresponds with success for the investor the stars are predicted.

they are not astrology >> we have said they are a useful starting point for research they correspond with attributes we think correspond with the success. low fees, risk consciousness easier to own. if we can point investors to those funds they have a better chance of succeeding that's what we are trying to do with the star rating. >> jeffrey, what you said was interesting. i didn't understand what you meant by saying it's more likely to be successful for an investor as opposed to saying more likely in the three, five years et cetera to have this many stars what do you mean >> sure. when we look at the cross section of future results we are defining successful as achieving a four or five-star rating over a future event horizon in the numbers i quoted five-star funds were seven times more likely to achieve a four or five-star rating in the next ten years than a one-star fund would be >> are you planning to make changes? are you going to eliminate it?

are the stars gone >> so we are always looking at the rating systems one of the things you would n e notice is enhancements over time and the analyst rating that can augment the star rating. when you take them together they will be powerful we'll continue to evaluate it and when the changes are warranted we'll do it as we have in the past. >> given that most funds do revert to the mean over time -- most there is a couple percent that don't. the bill millers of the world, most funds revert to the mean over time. go a little deeper into the value of analyzing funds when you could say, hey, mom and pop. over ten years you will learn about the s&p 500. >> this is one of the reasons why we have positioned the star rating is a useful starting point for research we haven't held it out as predictive past performance is subject to mean reversion

we want to make sure we are educating investors so they don't make the star rating their sole basis for making a choice furthermore, we have introduced others that they could use in tandem with the star rating to make even better decisions about the right funds for them, what they are more likely to succeed in we'll monitor the rating systems. just as we have. we think the star rating is a useful starting point for research to do >> when i look at a morningstar report on a mutual fund there is a lot of data there and useful data i have to tell you that personally, i pay less attention to the star ratings that measure risk adjusted return over a trailing period. i pay more attention within category to that fund's percentile rank within the category over the one, three and five years i'm talking to myself.

am i not did we lose our guest? we lost our guest. i'm going to continue the point. i think it is an important one the stars are an amalgam of a variety of measures including risk adjusted return over a trailing period. what i findthe most useful indicator is to look at what the fund's percentile rank is within its category over the trailing one, three, five and ten if i find a consistency there that the fund is usually unrisk adjusted in the top quartile or top 50% over a trailing one, three and five that gives me the comfort and suggests a predictive value that i don't necessarily subscribe to >> first it was a huge article >> huge. >> i was reading through it last week it didn't seem to stop i guess the point that the

journal was trying to make was don't -- if you're a pension fund, they highlighted a police union pension fund couple million bucks they used the stars and financial advisers say don't worry. it's five stars. there's got to be more to it listen, not to defend morningstar, but i will say this we created a basket of stocks on power lunch a few weeks ago of uncovered stocks 35 stocks with zero analysts covering them. we'll roll that as a regular series that basket of uncovered stocks outperformed the s&p 500, nasdaq, and dow. you could make the same article, i guess, about analysts. >> they are playing our song, jeffrey. we apologize for the signal going down we'll pick it up on the other side meantime, president trump about to tackle the opioid crisis we expect a speech shortly at the white house. d 60 times fast. d 60 times fast. it lets you know where your data lives, down to the very server. it keeps your insights from prying eyes,

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and today prototypes for the wall are being unveiled in southern california. adidi roy is live in otay mesa. >> we are at the border a couple miles out. eight prototypes next to me, look how tall they are between 18 and 30 feet tall. by comparison, check out the existing wall right behind me. that's only eight to ten feet tall, a lot shorter and more weathered as well. six companies got eight contracts to build the prototypes let's look at the names. the companies are -- w.g. yats and sons, elta north america, fisher sand, caddell, kwr and texas sterling they had a month to build the prototypes four are made of concrete. the other half have alternative materials like metal we got an up close view of the existing wall. there are plenty of holes where the breaches occur we also got a walking tour of the prototypes with a border

patrol official who told us differences in the walls, some you can see through. he said that makes it safer. they have no deadline for when they will make a decision. a few things can happen. they can either chooseone of the prototypes or choose aspects of all eight of them. of these protyp p p prototypes they'll scale the wall and trying to dig under and drive through it and making sure it is secure as possible >> aditi roy, really interesting stuff, great video in a few minutes, the president is expected to speak about the opioid crisis and he's expected to declare a national health emergency wechl bri emergency, we'll bring you remarks when it began. we'll speak with an opioid attic, how bad is the problem on wall street? stick around unlock: a realization that

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after months of promising to combat the epidemic, president trump is now expected to declare a public health emergency. the president minutes away from the announcement we'll carry it to you live as soon as it begins. joining us now to discuss the issue is trey larry, a recovery

opioid attic he opened up the lighthouse facility, trey, we appreciate you coming on and showing a little bit of your story and what you are doing to help for those of us who don't understand fully of the addictive power of these prescriptions, we are talking about doctor prescribed opioids. how addictive are they how quickly did it happen to you? >> it happened super quick it was two weeks i was addicted and there is no coming back from it the problem brian -- >> well, you did eventually. >> eventually, right, i was addicted for six years there was never a problem that said to me when he handed me the prescription and pills who said be careful with these, they are dangerous. what we know now is that you know while there is a little bit more awareness around the problem, the problem is escalated so much. >> and why we appreciate you being here so much is because i think there is a -- there is a

vision of sort of opioid attic in america as being perhaps from a poor depressed steel town in west virginia and jobless and nothing else to do it is crippling rural america. how prevalent is the problem among the well educated and well heal on wall street and folks that you see >> you are a former trader yourself 22 years on wall street >> yes, i worked as a trader for 22 years and i walked on this desk here is familiar to me. i love the environment and i love working on the desk with all the guys and being in the mix, it is a lot of fun. i have watched your show for years and being on the cutting edge of the news that's coming out. addiction prevads every single socio economic demographic there is, every industry and race and men and women and it does not care who you are >> so, so let me ask you a couple of questions. six years it took you to get clean. how many times were you in

rehab. >> i did not try to get clean for six years. i went to rehab once >> and your facilities are basically what we call sober houses, correct? >> they are not therapeutic. >> you provide a sober, safe environment for them how many of the people relapse while they are there >> very few, 5%. >> why is that >> we provide an environment where guys -- usually relapse happens when a guy goes back to a bar or situation or ski circumstances. >> how do they come to your property >> after they go to private treatments >> they have been there how long >> usually 28 days you think of the way addiction should work in the country, if you are diagnosed with substance used disorder, you should go to

a 28-day of private treatments after that, this is where the problems start people sort of figure, oh, trey is fine and he's cured in reality the hardest part is the day you walk out of that facility and figure out your life >> do you still go to meetings >> how many weeks? >> ten >> how long have you been sober? >> 2008. >> good luck to you. >> thank you very much >> thank you for sharing your story, the lighthouse is doing some great work. we appreciate it trey. >> top of the hour, president trump will make comments on the country's opioid crisis. we'll take you live to the white house. we'll take you to a closer look of the opioid crisis, and what a crack down it will mean. "power lunch" will be right back

welcome back everybody, president trump is expected to make an announcement in the next few moments on the opioid crisis, eamon javers is at the white house with more. >> reporter: the president wants to focus on the opioid crisis. the president is going to call this a national public health emergency falling a little bit short calling it a national

emergency which would give opioid centers access to federal disaster funds, in this case, they say they're going to expand access to telahealth in rural area that's hit hard by opioid crisis the president talks about his family's history battle with addiction. the president's brother, freddy trump, died in 1983 of a long battle of alcoholism that's a personal story of the president and can help the president relate to this issue and the people that's suffering so much under this opioid addiction. another thing to watch for in terms of our audience, in terms of global finance is what the president and the administration have to say about drug companies and manufacturing of opioid and their roles and whether or not

they'll push for additional regulations. a conference call this morning say they'll push for any regulations that are needed but did not cite any new regulatory activities that they think they'll impose here today. tyler, that's what we are wait for here in the east room at the white house. >> eamon javers, thank you. meg tirrell is joining us. >> that's right, there is a lot of attention paying in this. in terms of exposure making these drugs and the revenues they get from them it is not something you hear sales of opioid in the united states and prescription of opioids have climbed and matching the numbers that we hear all the time to more than $8 billion in 2016 and u.s. sales of prescription opioids

alone. they are fairly distributed among drug companies when you look at the investigation into these companies, they tend to focus on some of the same names, teva and endo are among those those two companies are exposed in opioid revenue and of course, today just had news that the founder and the chairman have been arrested under cancer drug probe. we also have some other names that are under investigation as well distributors are being looked at quite close high here for their roles as well. right now is more reputational thing than it does and any sort of bottom line hit >> even before anything happens out of washington, insurers are saying we are not going to reimburse anymore. that's a first step of a crack down from the private secotor. >> yeah, it is interesting of different groups coming out we'll only give you a seven-day

prescription and limit it in other ways there is also been scrutiny on the insurers and the pharmacy benefit managers' roles of reimbursing. opioids are generic and pretty cheap and more expensive drugs looking at the reimbursement >> and you wonder how it beca became -- >> perdue farma took that study, all the country says look, it is not addictive, under minor tiny doses controlling circumstances and not these 25 -- lets bring in tevy troy over medical and drug safety and trey laird is also with us as well it is a personal issues for him. obviously, you were there when a

lot of stuff was growing, did you try to combat at it and was there any effort federally, guys, we have got a national crisis that's brewing in devastating communities and if so, what happens >> to be fair, it was not as big o f a deal and not a big of a problem when i was there ten years ago. we were talking about issues of telehealth like what the president is talking about today and making sure the right person is getting the right prescriptions and you don't have these doctors writing prescriptions inappropriately. technology is improving to the point where we can trust tele medicine we are making sure if they can get the right medications. >> do you think doctors are getting the message, in other words, based on the numbers that we have seen of the over doses and number of prescriptions that are written 200 million

prescriptions written in 2015 that they are finally getting the message, the pain is not worst than it ever worse pain has not gotten worst, it is just that the drug to treat pain are gotten better. >> doctors are hearing about it. for a long time, they are hearing of other messages that we got great drugs to take away pain and they don't want their patients to suffer >> exactly >> there is a change in practices by doctors understandably because of the dea depths of the crisis but it takes a while to work this stuff out. there are tools that say, employers can do they can do things like preauthorization or limit the use of opioid if it is over used i think we are having a lot of tools and the president's speech will be expanding the number of tools but it is important to

focus on multiple private sectors and public sectors on this problem >> when you talk about the doctors too, one of the things we'll hear the president talk about is hopefully, there needs to be more education at the med school levels for doctors to get more education about addiction every doctor that's walking out and is able to write a prescription should know what prescriptions are going to do what and what can be potentially harmful. i remember of all the controversy surrounding accutane, you had a special prescription monitor to get the prescription which includes the i pledge system which was not great. think of what you had to go through to get an accutane prescription or opioid, i can go down the street, hey, i have a little pain and he will write me a script >> these are doctors, men and women at the highest level of

education, how are they prescribing these stuff? what's amazing to me is the level of compromised doctors out there. doctors with gambling debts and three divorces and alimony, how do we stop this. that's a large part of it, hey, i got a prescription from a doctor >> doctors, we forget that they saints with doc coats i think it is important to raise awareness. we had in the past where presidential awareness of the issue, for example, roosevelt talked a lot about polio in the 1940s and helped raise funding to develop a vaccine and president kennedy brought the smoking crisis by having an

insurgent looking into it. >> you got to remember if there could be funding towards non-opioid painkiller. we have several companies developing opioid with some success. >> these things are not perfect but it is being encouraged the one question that i have for both of you guys, we heard the fda talking about yesterday of removing the stigma around the addiction. what about the people who are already addicted to opioids and trying to increase medical assisted treatments and taking drugs to help them not be add t addicted for painkillers that's something that should be encouraged of the federal level. and along with prescription of

opioid killers >> that just make sense and it should not be hard, it is not an expensive drug to create as far as medically assisted treatment, i believe that, you know, anything that helps you get into recovery, you should use. if you need medication to help in recovery to start your journey, absolutely take it. >> if you need it to get into recovery, you should take it it should not be a long-term plan >> you favor vivitril? >> why is that because it is an injection that'll last for months? >> guys, we got to ask you to

stick around >> we just mentioned something that bears on our next segment we'll talk about the impact of the opioid crisis on cities and how they are fighting back joining us from an economic conference in new york, the president and ceo of the national urban league, and the former maryland of new orleans and we have mitch andrews, welcome mayors, last year of opioid deaths, and too many in the country. as our guest mentions there, trey, he favors all first spoer responders, mayor andrew, carry the narcotic -- >> first of all, he's exactly riep right. yes, we do we had a roundtable making your all of our providers know what to do and know what the protocols are and all of our

first responders being equipped of narcan. i am happy that the president is raising this issue up for the nation you don't want to take one step forward and two steps backward if you cut medicaid and medicare and the affordable care act and people's ability to actually get healthcare, it is going to be difficult to actually get ahead of this issue. it is a problem of epic proportions in the country that we need to deal with >> i don't mean to catch you flat fooded mayor landrieu how is the cost of that drug affecting you and your bottom line you got to spend -- it maybe a simple drug but it is not a necessary a cheap drug >> well, it is not but we are going to do what's necessary it is critically important to understand the metric that you just announced because we have more people that died from

opioid over dose than we did for violence we have got, again, this is as problem of epic proportions. if you don't get in front of it, you will never be able to catch it i am glad the president is having his press conference today. again, i want to reiterate this, if you cut the affordable care act and take away the funning for people to get treatments, you will take one step forward and two steps forward. >> what has been in your best estimation of the economic toll on the city of new orleans from the opioid addiction >> it is fairly significant. when you have individuals from dying of over doses, it is a significant impact the cost of lives are the most important thing. it is unconsciousable and we have so many people announced suffering with this. new orleans is not even close of what's happening to the rest of

the country. >> let me add this and i will collect the dot that the mayor just referenced and that's cutting to medicaid and medicare 1.5 trillion over a 10-year period of non-specific quote on quote cuts that's going to create downward pressure on important programs like medicaid and medicare and community development block rant and home dollars and work force and education, the kind of tools that communities use everyday to improve the quality of life for their people, it is one thing to have an announcement and i think we all are supportive of the idea that this is a national crisis and that steps should be taken. the infrastructure of medicaid and medicare are crucial to the ability of people with the addiction problem to get the treatment that they need to be able to heal and restore their

lives. >> that's true >> yeah, if you are cutting the fundi funding. >> mayor landrieu and mayor morial, what you say is true if you read dream land, you know that opioids are a bit expensive then medicaid offered a copay card allows people to buy effectively unlimited amount of entrepreneur yo opioids. so, there is a response,don't you admit that the federal government while now people look to it for help did have a role in making it work than it needed to be. >> they need to clone that situation up there is a lot of responsibility to go around from pharma to doctors and the government the recognition is we should take all steps necessary to

interrupt the situation and correct the course that the nation is on it is unacceptable if it is a national crisis than the president and congress and mayors and governors and medical community and pharmaceutical community should take every step necessary. >> we appreciate it, mayor morial and mayor landrieu. >> absolutely. >> amen, we are still waiting on president trump's announcement on the opioid crisis, we'll bring it to you live >> a new report suggests that iphone 8 sales are coming in weaker than expected, is it an iphone fatigue or people holding out for iphone 10. reporting after the bell, what we need to watch for and if you should buy ahead of results.

imax is reporting strong of ticket sales our richard gelford is joining us, all that and much more coming up on "power lunch. when a critical patient is far from the hospital, the hospital must come to the patient. stay with me, mr. parker. the at&t network is helping first responders connect with medical teams in near real time... stay with me, mr. parker. ...saving time when it matters most. stay with me, mrs. parker. that's the power of and. ♪ it's not just a car, it's your daily treat. ♪ go ahead, spoil yourself. the es and es hybrid. experience amazing. so what else is new? humm..she's doing good. she needs more care though. she wants to stay in her house. i don't know even where to start with that.

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. just a reminder, we are awaiting for the president's announcement about the opioid crisis

you can see the podium is being filled t >> joining us now is arrena. thank you for join us. >> irina koffler >> we also get all prescription data that shows declines in the opioid market, we have all seen the opioid crisis hitting some of these names for quite a while. several of them have been sued for marketing practices for various states all this information is incorporated in the stock prices that we see today. >> terms of prescriptions going lower and data that you see, what do you attribute the decline to, is this sort of policing and partly the insurance companies eliminating

the amount that they are going to ensure the number of prescriptions. >> cdc puts out new guidelines this year asking doctors to lower their opioid prescribing for shorter amounts of time and using lower doses. we are seeing across the country where people are not getting as much medication as they used to. that has a big impact on the market >> you mentioned some states are suing some of these drug companies, states that have really dealt heavily with the toll of the opioid crisis. have that, have that been factored in for future lawsuits? >> the case of one of them, there are concerns of companies having cash flow >> which one >> endo.

>> the company has not said anything aside and it is public filings to deal with these lawsuits that continues to weigh on that stock. in terms of companies like teva, there is you know, there is a small piece of their business and really they only -- i guess marketed opioids for a short period of time their generic opioids is not something they promote >> for a company like endo, they are facing a lot of lawsuits, what's the worst case scenario for your company >> i don't think they really sold billions and billions of dollars in opioids so it is a smaller risk i have not taken a guess of the number we have seen lawsuits with pharma companies in a couple of million ranges before things

like this. it really depends. >> in terms of some of the other drug makers, you mentioned it is a small part of revenue and a lot of them have a whole other host of problem that's driving the stock price, correct >> sure. yeah >> leverage and pipeline issues and etc. >> irina koffler thank you for your time. >> what role do you feel, trey, that the drug company plays in this >> they play a huge role you think back when i had my surgery and taking prescriptions like i said. purdue pharma is based in connecticut which i had my surgery. there was no indications given that these were dangerous substances at all. the drug company actively tries to go out and convince countries that these were fine if you had a patient coming back

he was still experiencing pain, give him more of that. maybe more of higher dose will cure their pain. there is never any talk about addiction problems and that's what got us where we are now today. >> when you walk out after your surgery, how many pills you were given? >> i had 90 pills and a refill >> we should mention the first lady is speaking now the president will start speaking as soon as he starts speaking, we'll take it in full. >> you mentioned before that you are going to work and fully functioning individual and addicted to opioids how prevalent do you think that is on wall street? >> i am not the only guy, i don't know i would expect, in every industry, wall street, legal, entertainment and where ever, there is functioning opioid at

acidi attics th addicts that are doing their jobs and doing it well >> we are waiting for the president literally any moment now. >> tyler made an important point earlier which is about the treatments of pain how much do we need to rethink pain management in a sense where i believe there is a thought that we don't need to be enpain pain you can have an injury that we don't need to change your pain listen, there is no pain without risks. this is life and life is hard and it can hurt. >> yeah, look, it is something that you have to have some sympathy for the doctors because they want to alleviate the pain of their patients. we need to rethink not only pain management but how we teach it to doctors so they are better prepared for this.

they were saying do this and your patients won't feel pain and doctors want to live up to the hippocratic oath and take away pain from their patients. i don't think it was malice on the part of the doctors. it is something that we need to rethink and we are constantly refining science and we are getting better of this >> i want to come back of something you talked about and getting you elaborate more are doctors getting the message. we may have to go right now to president trump, i am sorry, tedi, looks like he's taking the podium from the first lady lets listen. [ applause ] >> thank you, melania for your moving words and devotion. i can tell you that to our

nation and it is children. thank you all so to members of congress, my cabinet, governors and members of congress, state and local leaders, first responders and healthcare professionals gathered here today. we have incredible people in this room. most importantly we acknowledge the family presence who lost a cherished loved ones families and communities across our country are currently dealing with the worst drug crisis in american history this is all throughout the world. the fact is this is a worldwide problem. this crisis of drug use, addiction and overdose in many years that's been so long if the making addressing it will require for us to confront crisis in all of

its very real complexity last year we lost at least 64,000 americans to overdoses. that's 175 lost american lives per day. that's seven loss lives per hour in our country drug overdoses is the leading cause of deaths by far more people are dying from drug overdoses today than from gun suicide or motor vehicle cashras combined these are driven by a massive increase of addiction to prescription, painkillers, heroine and other opioids. last year almost one million americans used heroine and more

than 11 million abused prescription opioids the united states by far is the largest consumers of these drugs using more opioid pills per person than any country by far in the world opioid overdoses has quadrupled since 1999 who would have thought no part of our society, not young or old, urban or rural have been spared of this plague of drug addiction and this horrible, horrible situation that has taken place with opioids in west virginia, a truly great state, great people. there is a hospital, nursery where one in every five babies spent its first days in agony

because these precious babies were exposed to opioids or other drugs in the wombs, they endure many problems. some of these children will likely lose one or both of their parents to drug addiction. they'll join the growing ranks of america's opioid orphans. such beautiful, beautiful babies beyond the shocking death toll the terrible measure of the opioid crisis includes the families ripped apart and for many communities a generation of lost potential, an opportunity this epidemic is a national health emergency unlike many of us, we have seen and what we have seen in our lifetimes, nobody has seen

anything like what's going on now. as americans, we cannot allow this to continue this time to liberate our communities from drug addiction. never been this way. we can be the generation that ends the opioid epidemic we can do it [ applause ] >> we can do it. [ applause ] >> that's why effective today, my administration is officially declaring the opioid crisis a national public health emergency

under federal law. and why i am directing all executive agencies to use every appropriate emergency authority to fight the opioid crisis this marks a critical step in confronting the extraordinary challenge that we face as part of this emergency response, we'll announce a new policy to over come a restrictive that prevents states of providing care with more than 16 beds for those suffering from drug addiction [ applause ] the number of states have reached out to us asking for relief and you should expect to see approvals that'll unlock

treatments of those in need and those approvals will come very, very fast, not like in the past -- very, very quickly ending the epidemic will require mobilization of government and private organizations. it will require the resolve of the entire country the scale of this crisis of addiction is why soon after coming into office, i convene a presidential commission, headede consulted with experts across america to listen and learn and report back on potential solutions. we await the final report when it comes into next week and i know some of the reports have been seen. i want to see this as quickly as possible and some of the things they are recommending are common sense but. >> reporter: -- >> but very important. they'll have a tremendous impact, believe me

today i will detail many of these aggressive steps with my administration which we have already taken. after we review and evaluate the commission's findings, i'm quickly move to implement a proximate and appropriate recommendations. i want the people to know, the federal government is fighting the opioid epidemic on all fronts we are working with doctors and medical professionals to implement best practices for safe opioid pro descriescribing we'll do something, very, very special. we are requiring federal employed prescribers to receive finally special training the centers for disease control and prevention has launched a prescription awareness campaign to put faces on the dangers of opioid abuse i want to acknowledge cvs care

mark for announcing last month it will limit first time opioid p prescriptions to seven days supplies i encourage other companies to do their part to help and stop the epidemic [ applause [ applause ] the fda is requiring drug company that manufacturing prescription opioids to prescribe more training to prescribers and help and requ t requested one especially high risk of opioids be withdrawn from the market immediately. we are requiring that a specific opioid which is truly evil be taken off the market

immediately. [ applause ] u.s. postal service and the department of homeland security strengthening inspections and packages into the country to hold back the fentanyl and 50 times stronger than heroine. in two weeks i will be in china with president xi and i will mention this as a top priority [ applause ] he will do something about it. i am also pleased to report that for the first time that the department of justice has indicated major chinese drug

traffickers and they have really put really strong clamps on they will they have indicted them the drug traffickers for distributing fet fet fet fetanyl into the united states thank you very much. they have been indicted, we are not fergiorgetting about them >> i will be looking at the potential of the federal government bringing in major lawsuits against bad actors what they have and what they are doing to our people is unheard of we'll be bringing some very major lawsuits against people and against companies that are hurting our people and that'll

start taking place pretty soon [ applause ] >> we are also supporting first respon responders and medical professionals access to the tools that they need to prevent deaths from live salife saving over doses we have taken the first step of an ambitious public private partnership with pharmaceutical companies to develop non non-addictive painkillers and new treatments for addictions and overdose, so important [ applause ] >> i will be pushing the concept of non-addictive painkiller very hard, we have to come up with that solution. we giveaway billions and

billions of dollars a year we'll be spending money with coming up of non-addictive solutions. >> we'll be asking dr. collins in the fight against drug addiction. one of the things we'll be doing is a massive advertising campaign to get people especially children not to want to take drugs in the first place because they will see the devastation and the rural nation that it causes to people and people's lives watch what happens the addicted will start to tumble downward over a period of year it will be a beautiful thing to see. i learn myself and i had a brother fred, great guy, best looking guy and best personality, much better than

mine [ laughter ] >> but, he had a problem he had a problem with alcohol. he would tell me, don't drink, don't drink, he was substantially older and i listened to him and respected. he would constantly tell me, don't drink, don't smoke he would say it over and over again. and to this day, i never had a drink. i have no longing for it and i have no interests and until this day i never had a cigarette. >> i had somebody that guided me and he had a very, very tough life because of alcohol -- very, very tough life. he was a strong guy but it was a tough thing that he was going through. i learned because of fred. i learned.

that's what i think is so important. this was an idea that i had where if we can teach young people not to take drugs, not to take them. when i see friends of mine that are having difficulty of not having that drink for dinner where it is literally impossible for them to stop, i say to myself, i cannot even understand it why would that be difficult? >> we understand why it is difficult. the fact is, if we can teach young people and people generally not to start it is really easy not to take them that's going to end up being our most important thing really tough and really big and really great advertising so we get to people before they start so they don't have to go through the problemsof what people are going through [ applause ]

we are distributing $1 billion in grants for addictions and preventions and law enforcement programs assisting those facing prison and addiction we have launched an $81 million research for better management techniques for our incredible veterans and soon -- [ applause ] by the way, secretary shelton is here, you have done an incredible job for our veterans in a very short period of time [ applause ] and soon hhs will launch a task force to develop an update best practice for pain management

across the federal government. i am mergi urging all americanso help fight this opioid epidemic and the broader issue of drug addiction by participating in the national prescription drugs, take back day this saturday. when you can safely turn in these dangerous and horrible drugs for disposal, that'll be a wonderful period of time for you. all of these actions are important part of my administration's larger effort to confront the drug addiction crisis in america and confronted head on, straight on, strong we are going to do it. for too long, we have allowed drugs to ravage american homes and cities and towns we owe it to our children and our country to do everything in our power to address this national shame and this human

tragedy. we must stop the flow of all types of illegal drugs in to our communities. [ applause ] for too long, dangerous cartels have been allowed to infiltrate and spread throughout our nation and astonishing 90% of heroine of america comes from south of the border where we'll be billi building a wall which will help with this problem. [ applause ] we'll have a great impact. my administration is dedicated to enforcing our immigration laws, defending our maritime security and securing our borders. we also have to work with other countries to stop these drugs where they originate

we have no choice. we have to work with others and we have to get together because they have similar problems to what we have some countries have bigger problems than we have. whether that country is china or whether it is a country or latin america, it makes no difference, we are going to be working with all of them. we are taking the fight directly to the criminals and places that they're producing this poison. here in america, we are once again enforcing the law, breaking up gangs and distribution networks and arresting criminals who pedal dangerous drugs to our youths. we understand the need to confront reality, right smack in the face, that millions of our fellow citizens are already addicted that's the reality we want them to get help they need, we have no choice but to help these people that are

hooked and suffering so they can recover and rebuild their lives with their families. we are committed to pursuing innovative approaches that have been proven to work. offer efforts will be based by sound metrics and gouided by evidence and results this included making addiction available to those in prison and help them reenter society as productive and law-abiding citizens finally, we must adopt the most common sense solution at all to prevent our citizens from becoming addicted to drugs in the first place. [ applause ] we must and are focusing on so

much of our effort on drug demand deduction we must confront the culture of drug abuse head onto reduce demand for dangerous narcotics every person who buys illicit drugs in america should know they are risking their futures and families and their lives every american should know that if they purchase illegal drugs, they are helping to finance some of the most violent and ruthless organization in the world. there is nothing admirable and positive or socially desirable about it there is nothing desirable about drugs. they're bad. we want the next generation of young americans to know the blessing of a drug-free life,

against drug addiction and opioid epidemic, it is that. our greatest hope is the same as it is been through every trial america has encountered throughout our history of the spirit of our people and the strengths of our kyle clark, characters, we win each of us have a responsibility to this effort we have a total responsibility to ourselves and family and our country, including those who are struggling with this addiction each of us is responsible to look out for our loved ones, our communities and children and neighbors and our own health almost every american has witnessed the horrors of addiction whether it is through their own struggle or the struggle of a friend or co-worker or family member

especially of the epidemic of opioid deaths will get worse before it gets better. it will take many years to address this in our society. we must start in earnest now to combat national health emergency. we are inspired by the stories of every day heroes who pull their communities from the depths of despair through leadership and through lover fire chief of dan gooney, great state, run as program and allows drug dependent residents to seek help at fire stations at any time they have provided a loving home for children affected by the opioid crisis. i am calling on every american to join the ranks of guardian

angels like chief noonan who helps lift up the people of our great nation together we'll care for our citizens and our children and office,say, our foster youth so many, so many, but we're going to lift them up and we're going to take care of them we will work to strengthen vulnerable families and communities, and we will help to build and grow a stronger, healthier, and drug-free society. together, we will face this challenge as a national family with conviction, with unity, and with a commitment to love and support our neighbors in times of dire need working together, we will defeat this opioid epidemic it will be defeated. we will free our nation from the

terrible affliction of drug abuse and, yes, we will overcome addiction in america we are going to overcome addiction in america we have fought and won many battles and many wars before and we will win again. thank you, god bless you, and god bless america. thank you. >> president donald trump wrapping up a long commentary at the white house about the nation's opioid epidemic declaring it a national health emergency. making it a personal story as well referencing his brother, fred trump, who was an alcoholic, and who passed away at the age of 46 melissa, you noted there is a stock impact here as well. the president effective lly ta k talking about the potential of lawsuits and many pharmaceutical stocks not pharmacies

cvs' are calling. >> said specifically the government is willing to bring lawsuits against bad actors in this crisis and saw an immediate drop, marlparticularly among the pbms we have a number of stocks we'll scroll through see the turn around 2:30 when the president started speaking we should also note there was a report, i only mentioned this, part of the reason we're moving from the st. louis post dispatch saying amazon -- has gotten licenses for at least 12 states so that could be adding to some of the pressure in the sector but we did want to highlight these stocks which are definitely moving in response to at least what the president is saying right now >> yeah, right aid down nearly 7%, cvs down 5%. express scripts, true pbm, c strrvs has one. at the beginning of the speech, he singled out cvs/caremark in a positive way, tyler, said i want to give a shout y-out to them fr the way they controlled their sales but the market --

>> they see it as a move to really restrict opioid prescriptions. the number of prescriptions and obviously the volume and the frequency of them. and that is trickling through to those stocks very -- >> i want to thank our guest, trey, you've been with us, been very patient, sharing your story. founder of the lighthou-- >> after care. if you have a problem, reach out to the white house. >> appreciate your insight. >> sharing of your story thank you. let's ta a srtkeho break we'll be back with more "power lunch" right after this. with advanced safety.

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this is the reaction of the president's declaration ofcrisi emergency, saying the government is -- see these stocks here, pretty much session lows take a look at pharmacy stocks they're also seeing a hit. there's also a report from the st. louis post dispatch saying that amazon has gotten 12 licenses to operate pharmacies so that's al hinsoavg impact "power lunch" will be right back

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time for "check please." mine, guys, the opioid crisis, not just humanitarian story which it is, also an economic crisis got a lot of workers out there that can't work because they're addi addicted they can't pass a drug test. here's economic toll as well, sbeas well as a human toll. >> absolutely is i think people think of particularly heroin addiction. as something that mostly the major inner cities it's not that case anymore it is in the country, it is in small towns. it is in suburbs it is in your town it is at your high school. it is in your office.

>> if you know somebody who's gotten back surgery or knee surgery, i think that's most of us at this point, they have probably been prescribed opioids and so they have that potential. so it's everywhere >> yeah. and let's hope we can do something about it to be continued. >> thanks for watching "power lunch. >> "closing bell" starts right this second. and welcome to "the closing bell" i'm michelle caruso-cabrera in for kelly evans. >> i'll take that. i'm bill griffeth. brace yourselves this is the busiest day of the earnings season. plenty of other things going on right now. in one hour we're going to get an onslaugt of reports again this write this down, everybody, amazon, alphabet, intel, gilead. that's only for the start. we're going to tell you what t