fmyinal trade is athena elliott has a major position and a bit on the table for 180 talk about private equity firms coming in. >> farmer jim? >> long volatility i said it earlier, everything from tesla to tariffs is going to keep this market moving. >> thanks, everybody have a great weekend "power lunch" starts now. >> indeed it does. i'm tyler mathisen welcome, everybody here's what's on your menu light 'em up elon musk smoking some weed, drinking some whiskey in a bizarre interview on "the joe roggin experience. it was an experience it's a podcast what does it mean for investors? we'll talk to an analyst still betting on the tesla stock. house republicans want to make the individual cuts permanent but will the escalating trade war with china and maybe japan offset gains economically from those tax cuts all that plus a cnbc special

investigation into an international extortion scheme targeting wealthy americans. "power lunch" begins right now >> welcome to "power" on this friday the president says he is ready to implement another $267 billion in china tariffs the nasdaq was lower but is now in the green the nasdaq is having its worth week since january 23rd. we have united technologies, procter & gamble as well as dow, dupont trading lower all 500 s&p sectors are lower led by real estate materials and utilities. take a look at the china large cap etf is falling on the china comment. >> breaking news president trump upping the ante yet again in the ongoing trade conflict with china.

>> i've now listened to the audio of that gaggle president trump held with reporters aboard air force one and he's clearly threatening an additional $267 billion in tariffs on chinese goods, beyond the $200 billion the administration is current weighing whether to move forward on we have reached out to the u.s. trade representatives' office for more information we'll let you know when we hear from them. that would mean we impose tariffs on almost all of the goods from china we import that would be very painful as for the $200 billion in tariffs that the administration is currently weighing, president trump said that those could come very soon. the administration could move forward with that at any time. they're looking at tariffs of up to 25% on those products the president gave an update on nafta negotiations saying talks

with canada are moving along and they announced the u.s. has begun a trade talk with japan, saying, quote, if we don't make a deal with japan, japan knows that would be a big deal guys, it looks like a contentious start to those negotiations as well back over to you. >> i wanted to ask you a question $200 billion of goods subject to tariff that's been announced. $267 billion more threatened how many goods -- from china are actually being hit with tariffs right now? >> there are $50 billion in tariffs that were initially announced. $200 billion in tariffs currently being weighed have not gone into effect the administration is deciding exactly which products to impose those tariffs on and what the amount should be and the president throwing this curveball out there saying, $267 million more could be added behind that $250 billion that's

already out there. that's what really has gotten folks alarmed and surprised because that would represent, again, a large portion of the products we already import the business community has been up in arms about this, retailers storming the hill this week, trying to get exclusions from the products that might be subjected to these tariffs so, we're trying to find out more detail right now. we'll let you know when we have it. >> in terms of what needs to be done before $267 billion are actually put into place, there has to be a public comment period, just as we had with the $200 billion even though it's ready to go, in quotes, there's actually a lag time as to when it could actually be implemented. >> absolutely. i mean, the $200 billion in tariffs we were originally talking about, those were threatened back in june and july it can take months for this process to wind its way through the regulatory system. there was also public hearings

that were held where public company and individuals could make their concerns known. ready to go is a relative phrase. >> thank you very much those comments from the president sending stocks lower midday the dow took quite a nose dive in the noon hour eastern time. how worried should investors be about this new tougher stance the president is talking about with china, maybe even with japan? bob pisani is on the the new york stock exchange and with us is top yang. you saw the air pocket the dow hit when these statements were reported, but now it's come back a little bit >> yeah. what we've seen this week is we know what the markets care about. number one, the markets care about fed and rate hikes we saw is that this morning. we saw bond yields up, stock market down on concerns the fed might be aggressively raising rates. we know the fed cares about

china trade wars and the stronger dollar. we saw the s&p lose five or six points as the president made those off-handed comments. we know d.c. politics and the president's worries don't particularly move the market you can see how the market reacted on the president's comments on trade. look at all the usual trade stuff. oil stocks dropped we saw metal stocks dropping we saw china stocks dropping those are the three typical examples if you don't think the concerns about the fed raisesing rates, home building was down and lumber was down briefly, $15 $15 limit down in lumber we have two issues floating out there and those are the ones moving the market. >> tim, welcome. how sanguin are you in light of the trade deals and in the next week, presumably, higher interest rates >> it looks like the markets are

really discounting the present data versus what could happen in the next six to nine months regarding the trade wars at this time you look at the economic data that came out in the second quarter gdp growth. personal consumption expenditures erupt 3.8%. my favorite stat has been the jobless claims are at 50-year lows why? because my beloved jets lost won the super bowl in 1969 so, those are great numbers from an historical perspective. what the market is effectively saying, additional tariffs, you're already seeing from the jobs report this morning that wages are up 2.9%. added on the additional cost in terms of raw materials, et cetera, we've seen in the housing sector, how is that all going to translate in terms of higher cost and higher prices in terms -- >> and higher interest rates potentially. your response if the economy even picks up more steam, right?

>> absolutely. the one thing that's interesting, if you look at debt that's rolling off, the first time since 2009 when debt that's going to be refinanced is going to be at a higher level as opposed to a lower level we had seen previously before so, everyone's going to be paying higher interest rates >> you used to like the markets overall. are you fully allocated to equities at this point what's your allocation like? >> we're fully allocated for equities we're really staying with the growth sectors, technicals, financials, they're growing at 21%. >> you're looking through the possible cost of the tariffs either to the consumer and/or to the corporation then. >> at least on the short term. at least for the next quarter to two quarters, yes. >> 40u67 are yhow much are you g emerging markets and the global

economy. >> our concern is emerging markets. we've seen the effect particularly on the currency side the currency declining so much can push inflation rates as well overall, we're very much underweighted. the one thing we talk about in regards to the canary in the coal mines is the massive amount of debt that is sitting out there. we just saw the actions china took a couple of days ago in regards to permitting their financial institutions to increase their lending without paying a v.a.t. tax for the next two years. they tell you they'll expand their balance sheets and the balance sheets from the other central banks are quite large. >> one way or another, leverage is always at the center of these things. >> absolutely. >> when markets unravel. not saying they're going to. tim, thank you very much >> thank you >> bob, thank you as well. so now to the interview gone

viral. tesla's elon musk speaking weed, sipping whisky, showing off his flame-thrower. it happened overnight on a podcast with joe roggin. wall street is not amuseded by musk's antics. that stock is down 7% on the day. dom chu takes us through the highs, the lows, the lowers. >> i see what you did there. so this is the stock that was down by as much as 9% at one point. it's off those lows right now. ironically it wasn't the interview itself that caused the massive drop in stocks the interview is front and center and what a lot of people are talking about today. you showed the video of elon musk taking a puff of what some people call a blunt, other people call cannabis products. in the end, it was marijuana mixed with tobacco, so says joe rogg roggin this is what they said along the

linlz of s lines of setting the stage in the first place. take a listen to what they said here >> so, is that a joint or is is it a cigar? >> no. >> okay. >> it's marijuana inside of tobacco. >> oh, okay so it's like - >> you've never had that >> i think i tried one once. >> oh, come on, man. you probably can't because of stockholders, right? >> i mean, it's legal, right >> totally legal >> okay. >> how does that work? do people get upset at you if you do certain things? there's tobacco and marijuana in there. that's all it is >> so, that clip on the joe roggin experience podcast last night is what got all the buzz one thing to address here is - >> i see you did there >> it is legal they were in california and this is permitted under the laws there. the reason people are getting so -- just in tune with it right now is because when is the last

time you saw a public company's ceo of that nature havings that kind of a situation where they're drinking and sploeking in that kind of a setting? that's the reason why they keend of really got a lot of attention because of it. >> we're held to public standards of conduct that says even if we're not on the job that we are on the job - >> representatives of the company. >> that's right. >> what does tesla's code of conduct require? >> it does address the fact that you cannot be at work inebria tcht ed there's a question whether he's violating his own company standards. what's even more interesting about this is during the course of the interview they talked about so many things that elon musk has been known for. they talked about his opposition

to artificial intelligence one of the things i thought was interesting and something he's brought up in the past was a notion that this on this particular podcast that running a public car company like he is right now is extremely difficult. he speaks a little bit to how hard it is this is what he had to say he likened ford and tesla in one particular point this is what he had to say >> the spacex is no walk in the park, but a car company, it's very difficult to keep a car company alive. it's very difficult. you know, there's only two car companies in the history of american car companies that haven't gone bankrupt. that's ford and tesla. >> so, that's a pretty frank discussion about how he feels about how competitive the car industry is at this point. >> going back to the real reason or the reason intraday why the stock took a dive is because of the departure of two key top executives. >> the chief accounting officer,

dave morton, steps down after about a month, we'll call it, on the job. also their head of hr reportedly will not come back from leave. this is what bloomberg is saying right now. so those two -- i've been covering this story since 2:00, 3:00 in the morning because this podcast didn't end until around 3:00 eastern time. >> it's a podcast -- >> podcast that was filmed i've been watching the premarket action since 5:00 a.m. it was down about 1.25% on the heels of this interview. not a lot. now when the chief accounting officer news came off, it was off about 4% and then went down 9% when news of the hr person came out as well. >> dom, thank you. with tesla stock down about 23% since musk tweeted about taking the company private, will his continued stwreek of questionable behavior, shall we call it, rattle investors further? let's bring in collin rush

you're clearly a tesla bull. just yesterday you came out saying you do believe tesla will basically hit the high end of the guidance of 50,000 >> i didn't actually say that. we said they are tracking well on volumes with the model three and that bodes well for growth market. >> but you have an outperform rating. >> yes we are looking at fundamentals the real concern weighing on the stock here is not just elon's behavior but his behavior coupled with an s.e.c. investigation and what's coming out of the tweets and if there's some misdoing going on with the organization when you see two chief accounting officers leaving within the span of a month, that's not a great signal to the market as we look at this, we're looking at a company that's kind of -- what we thought hit a key inflection point in terms of its growth accumulating problems at a

dizzying rate based on the ceo we think it's time for the board to step in and actually start taking some action here. the board has been passive with elon, riding his coattails and it's overdue. >> at what point do you tell investors, step aside from this stock? as you said, they're accumulating problems at a dizzying rate and it's affecting the price. >> yeah, without question. so, what we've been encouraging folks to do is augment fundamental positions with options to protect themselves. our job isn't to look at elon's psychological profile or some of his behavior to look at the fundamental of the company at some point these will accumulate to the point where we have to reconsider our position on this. at this point the fundamentals are getting missed in the story. as those start to come out as they report production numbers in early october, we think there's some surprise there. >> let's talk about the departure of the accounting

officers in succession you said that's potentially a concerning issue for you what does it suggest to you? >> certainly the previous accounting officer that left a couple months ago is the cfo of a public company which question cover. there was a clear evolution of his career moving into a new role to see someone come in having done due diligence, understanding they're stepping into a high-profile situation suggests a personality conflict, a surprise there that maybe caught that person offguard. certainly the ceo announcing they're going to take the company private in a stweet and then looking at all of the fallout from that may have been too much for the recent departure. >> bottom line, is elon musk fit to run the company >> at this point i think it's a major question that's why we're advocating that the board get more involved in augmenting the leadership team

to try and capture what elon brings to the table in terms of providing a vision but bring in additional expertise and, you know, i think voices to help this company execute and have a public face to investors that they can trust. >> at this point are a lot of your decisions still revolving around what elon musk does or doesn't do how much of this is other factors that are engaging this car company sdm. >> at this point our fundamental job is to look at what's going on with the business and the numbers. that's what we're focused on you can't ignore these other issues as we look at this and track this, you know, we've been cautious on the company and the fundamentals and the execution up until this report and the guidance around the 15% gross margins in the third quarter we're looking at all sources of information we can and getting outside advice on how to handle this from a ratings perspective.

>> do you have faith in the board, collin? >> i'm sorry, can you -- >> do you have faith in the board? they've been letting this happen they've been letting the ceo go out, do all these interviews and basically bring more problems upon the company and shareholders. >> at this point they need to step up but they have not proven they can handle elon when he's moving towards the downside of his behavior patterns. this is the point where they prove their worth to the company. it's now or never, in my view. >> thanks. up next, we talk to two members of congress about the president's new even tougher talk on the trade front with china and now possibly japan we'll get their take on this developing story. plus, how major retailers are reacting to the latest effect laes k w rd cf the trade war. hohaould this hit the bottom line? stay with "power lunch "request the.

moments ago on air force one, president trump doubles down on his tough talk about trade with china, saying he's ready to slap tariffs on another $267 billion worth of chinese goods. could an escalating trade war with china cancel out the

benefits of the tax cuts welcome to both of you let's start with tariffs, representative g representative, and tell me whether you think congress needs to be more involved in the discussions about tariffs, about trade deals with -- between the united states, mexico, canada and so forth >> i think congress has a very important role to play i also think we've got to be tough on china that history of cheating but we have to are targeted in the way we do these tariffs. you can't have another $250 billion of sweeping tariffs and have the reverse affect of causing us jobs and economic growth which could can counteract any recent economic growth i hear this all the time i'm sure leonard does, too, from our businesses at home we're saying, wait a second, i don't know why we're getting

targeted it doesn't make any sense. >> congressman lance, if you d add -- you're really talking about every good that is imported from china here does this concern you that the ripple -- that, number one, congress is not involved in these conversations, it seems. number two, that the economy could be deeply affected by it >> yes, it concerns me i agree totally with josh. new jersey is a free trade state. our position in the world is based upon our geography of course, we have one of the largest ports in the entire world, the port of new york which is located in new jersey we have to be more tash gtar ged china has been cheated but ultimately we need an agreement not only with china but canada and mexico that is fair to the united states. but i am a strong believer in free trade >> congressman lance, last week we heard the president say congress should stay out of it when it came to dealing with canada and then he said that it

wasn't the right time to be negotiating with china even as now he's threatening this additional tariffs on $267 billion of goods what does congress need to do to be more involved if you're concerned about the state of new jersey and what this does for trade in your state, what do you do? >> we point out to the white house that we should be involved we have a constitutional responsibility as the legislative branch of government this is not exclusively the responsibility of the executive branch i agree with the administration that we have to be tough on china but the ultimate goal is to make sure we can trade freely. >> let's turn to taxes and the idea that a tax reform 2.0 package may come out of the ways and means committee object be discussed there over the next couple of weeks. i'll get both of you to weigh in on this. what do you think about the idea of turning all of the tax cuts for individuals from a temporary status to a permanent status good idea?

bad idea >> terrible idea as we've talked about before, you know, we're for cutting corporate tax rates but it was done on the backs of our states, and it's have a tax hike on our residents. the irs put out a report yesterday that says on average, in my district, every single county will have their taxes go up because deductibility has been gutted and capped off at $10,000. in bergen county, new jersey, it's $4,000. i want tax cuts, not tax hikes i'm sick and tired of these other states, moocher states to continue to get benefits on our backs. >> i agree with that i did not vote for the first round of tax reform. i favor lowering taxes i favor complete deductibility of state and local taxes if we were to pass that here in the house, it would be an exercise in futility because it could never pass the senate. it would take 60 votes to move

forward in the senate. that is not going to happen. >> what do you think, congressman lance, of the irs's or the treasury department's sort of refusal to allow states to set up charitable funds into which people can pay their state and local taxes and thereby be allowed to deduct them are you enflamed by that >> i think our state legislature did the right thing. this will be litigated in the courts there have been prior situations that the irs has permitteded this regarding charitable contributions to schools and based upon the history at the irs, i think the courts may very well rule in favor of states like new jersey that have done this >> just adding to that i completely agree we did the right thing because 32 other states have been utilizing this deduction for decades now. there's no reason we shouldn't be taking it in new jersey

and we knew they were going to court over this. this is no surprise at all now we have to fight it out. i think we win the courts have been clear about this i think we need to do everything possible to fight for more deductions and more tax relief that's why we both agree we should reinstitute s.a.l.t. and get taxes down for the people in new jersey. >> i don't think i've ever seen so much bipartisan agreement in one place at one time. i'm delighted to see it. two jersey boys. >> it's the high caucus here. >> it's the problem solvers caucus working together in bipartisan ways >> it's a good thing for jersey. >> thank you very much >> congressman lance, congressman gottheimer. sticker stock. we have a look at how the ris ulhireils and your wallet, too

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the trump administration a step closer to a bigesque ra ecn in a trade battle. let's take a look at retail tariff troubles. >> the latest round of proposed tariffs could hurt u.s. retailers pretty hard and also hit consumers. here's why in 2007, china accounted for 41% of pparel, 72% of footwear and 84% of travel goods imported into the u.s and u.s. retailers are speaking

out. a number of executives and ceos from the following companies have spoken out during the comment period they include dollar tree, fitbit, irobot and joanne stores, so did the head of the american apparel and footwear association. they estimate a family of four would have to pay an additional $500 per year on clothing and shoes if a 25% tariff is added onto those products. designer rebecca minkoff has been speaking out. by the way, all of this has also come up on the most recent earnings calls at retailers. for example, the ceos of both target and walmart have brought up trade concerns during their

most recent trade calls. >> thank you very much let's get over to sue herera for a cnbc news update. >> here's what's happening at this hour. former president barack obama is calling on people to vote in the november midterm election, saying our democracy depends on it he spoke at the university of illinois at urbana champaign where he received an award for ethics in government. >> we're americans we're supposed to stand up to bullies. not follow them. and we're sure as heck supposed to stand up clearly and unequivocally to nazi sympathizers how hard can that be >> a leading brazilian presidential candidate who was wounded in a stabbing will be hospitalized for at least a week a knife-wielding man stabbed far-right congressman in the abandon at a campaign rally on thursday. and the line was out the

door at the opening italy's first starbucks in milan starbucks staff walked around serving coffee to the hundreds who waited on line the wait to get into the store was close to an hour we'll see how they like it that's the news update this hour back to you. >> thanks. let's head over to rick san stelly tracking all the action at the cme. >> all those weeks of being in tight ranges, we kind of blew that out of the water. look at intraday two, up six basis points looks like a one-month high in the offing this is key. the curve isn't steepening that's what you want when you get better wages, to make room for more tightenings if there's no room, what will the fed do interesting. you can clearly see it really didn't have the desired effect of steepening the curve.

dollar higher but still within the range of the week. >> thank you very much the u.s. economy adding 201,000 jobs in august with healthy wage gains could this goldilocks economy mean gains for the president and the gop in the midterm elections? that's ahead on "power lunch."

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another strong employment report 201,000 jobs added in august and wages are rising earlier today the president's top economic adviser, larry kudlow, talked about economic growth under trump. >> the biggest story in 2018 is an economic boom that virtually no one thought possible. let's see. the atlanta fed gdp now is predicting, let's see, 4.4, 4.5, 4.6 for the third quarter after 4.2. the first half was 3.1 as we discussed, the wages are rising very, very well this is great stuff. and it's widespread.

>> will it continue or will concerns about trade and turmoil in the white house put a hold on the economic growth and the confidence in it joining us is the president and ceo of the national urban league, former mayor of new orleans, joe watkins, former white house aide for george h.w. bush let me start with you, mark, the conventional wisdom holds that voters vote their pocketbooks. if that's the case, why is there so much democratic optimism about the midterms this year >> because we're not in normal nor are we in conventional times? the truth is the economy's been on this trajectory with about 200,000 jobs a month for an eight-month period the other truth is, yes, as larry kudlow says, wages are rising but it's not keeping pace with price increases the average american is not feeling the full effect and the full benefit and i think importantly, tariffs, chaos,

confusion, turmoil, division coming from the white house is what people are going to vote on in the midterm elections these are not usual times. these are unusual times. and i think voters want to sent a message about the direction, the tone, the manner, the style, the rhetoric when it comes to leadership in this country >> joe, if that's the case, i'm doing all of this traveling all over the country, doing a lot of stories about the impact of tariffs. i go to trump strongholds. soybean farmers and makers of bourbon in kentucky. and these are places getting really hurt by the tariffs and potential for tariffs. how do the republicans move forward with any kind of confidence there won't be some fallout from the white house actions on this front? >> well, president trump's base really loves him

the op-ed that came out the other day which is dominating the news really only helps him with his base. it gives him a chance to go like he did the other night, the base is after me, trying to discredit me while the economy is booming. larry kudlow is right, the economy is booming, when you look at the rate of unemployment, all the jobs added, the economy is very, very strong and people normally do vote their pocketbook. with the exception of the manufacturing sector which has taken a little bit of a hit last month, you really haven't seen across the board a huge it impact of the president's trade wars that being said, democrats are still likely to win the house in november not just because of anti-trump but also because in a state like pennsylvania that all the congressional districts were redrawn by the supreme court so, you have a number of districts now that are democrat that before were republican. so, you'll see a rise in the number of democrats, certainly

from the state of pennsylvania, but nationally i think democrats will win at least 24 seats, maybe as many as 30, 33. >> those districts were redrawn because the court did not approve of the way they had been drawn, presumably in favor of the gop people joe, i want to take -- take me inside a white house and we know there are internal rivalries and knife fights and disagreements that's healthy, a lot of people would say. i wonder during your experience, can you imagine white house staffers or people within the bush administration actively working to subvert or derail the agenda of the president? >> no, not when i was at the white house. when i was at the white house, the white house no matter who the president is, is always going to be a competitive place. i worked for president george h.w. bush, my oldest daughter worked in the white house for george w. bush it's a competitive place that's the nature of the beast

but generally speaking, white house staffs love their president, support their president and work hard for the president's agenda we all realize, when i was there, that you work for the president of the united states that's your boss it's not your opinion, it's his opinion that matters it's his direction, his guidance for the country that matters this is very, very different, indeed that's why this story has just taken the country by storm it's going to stay that way for a little while until they figure out who it is that wrote this op-ed. >> mark, when you're taking a look at how this plays out over the next couple of months leading to the elections, you heard a bold prediction from joe watkins. what do you think democrats have to do if they want to try to change the culture and the tide and the governance of the nation >> i think they've got to just listen to the voters the voters don't want chaos, confusion, back-biting they don't want hate speak they don't want white supremacy. they don't want nazi sympathizers they don't want the leaders of this nation acting in the convey that we see.

i also think while the president tauts his base, it may be 30%, 35% of the electorate. that doesn't get you to the majority i think for democrats the important thing is to turn out their base, which is a growing base people of color, millenials, women, college educated individuals and i think they'll make inroads into blue-collar workers. the blue-collar worker is about to get slammed by these tariffs. the report you just saw talked about impact on prices for the types of things people need. clothing and shoes so, this is a chaotic set of economic policies. on one hand, maybe we giveth on the other hand, we taketh away i think the american people want stability, focus and they want the leadership of the country, whether in the congress or white house, to operate with a sense of what is right and wrong with a sense of morality, decency and civility >> mark with the national urban league and republican strategist joe watkins. both of you friends. nice to see both of you.

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this wi-fi is fast. i know! i know! i know! i know! when did brian move back in? brian's back? he doesn't get my room. he's only going to be here for like a week.

like a month, tops. oh boy. wi-fi fast enough for the whole family is simple, easy, awesome. in many cultures, young men would stay with their families until their 40's. there is a growing international scheme that's leaving a trail of wealthy victims across the country criminals claim they have your child for ransom you will never believe where they're conducting this frightening business here's the cnbc investigation, the extortionists. >> tell me what you need i don't know tell me. >> this is an extortion call the man on the phone is desperate to save his son's life >> calm down >> how real was it for you >> how real was it someone had my son someone had my son who i had heard crying and screaming in

the background covering his mouth with a gun to him. >> 30 minutes, he says, of complete terror. jamie heath had no idea he was being conned but this is no ordinary hoax here's another actual call >> if you call the cops, i'm going to hang up on you and you're not going to see your family member, not even to bury them >> an extortion scheme to paralyzing, the feds call it a violent crime. fbi special agent. >> the victims also are wealthy architects, doctors, lawyers, professional people. get the phone call, make the payment. >> heath is a music producer and lives in los angeles investigators say a recent target for the extortionists he was inside his home when he got the call >> i hear him say, they're going to hurt me they're going to shoot me.

then while he's talking -- and then i hear someone cover his mouth. then someone grabs the phone and says, is this nak's dad? listen to me closely how you respond in the next 20 seconds determining if you see your son again. >> from the start you thought it was your son >> it wasn't thinking. it was my son. >> he rushed to get cash >> i parked there. i ran down the street here, ran into the bank through those glass doors. >> once inside, he got a text from his wife. >> that said nak is safe he's at school >> that's when he finally called his son. >> he sounded terrified to the point where i was scared >> i'm keeping him on the phone. >> if you think you'd never fall for this, meet rebecca poge. she got her call in orange county what was the day like in here? >> totally typical day of school >> she teaches seventh grade and

was waiting for a call about the pizza she'd ordered. so the phone rings in the classroom. what do you hear >> instead of a pizza guy, i hear a young voice, sounds just like my 15-year-old daughter saying, mom, mom, they have me, they have me >> so you thought for sure that was your daughter on the phone >> 100%. >> but just like that, she says, her daughter abby's voice was gone replaced with a man giving explicit instructions. >> he goes, go get your purse, get your keys, we're going for a ride he says do it right now. >> he told her to drive straight to the bank warning her don't talk to a soul >> he said pull out money. i go to the atm. he says no you go to the bank >> so poge raced to leave. at her car, she began the short drive to the bank. >> at this point, would you have taken out any amount of money

you had to give it to make this go away? >> i would have done anything. as much money they would have let me take out, i would take out the max. >> what she didn't know, while she was scrambling, other teachers at the school had been calling her family and found out abby was safe at home. it wasn't until poge pulled up here to the bank that she saw her daughter calling in on the other line >> this was actually the exact spot i was in. >> this is exactly where you parked >> right here. i could see in the bank. i could see -- it is really traumatic right here because this is when i got the call from her that she was okay. >> what we saw is that we're going to really focus on place where is we think there's a lot of money and guess what they were successful they found the richest areas in the u.s. >> according to the fbi, versions of the scheme have been around for about a decade. but it wasn't until recent years

that agents made a startling discovery while pouring through victims' phone records the agent says they found calls made to people across beverly hills were coming in from one place. >> our investigation has revealed for the most part these phone calls are being made by prisoners in foreign countries mostly prisoners in mexico. >> so you're telling me that mexican prisoners have this terrifying scheme down to a science? >> yes yes. we're talking about thousands of phone calls over the last few years. >> this is undercover video aired by the mexican broadcast network imagen it was taken inside a prison in mexico city. the people you see on the phone here are inmates according to investigators, casually making cold calls right out in the open. so these prisoners are really

hoping to strike it rich with these calls? >> absolutely. the whole point of this for them is to make money, make money fast, make as much money as possible that's why they target certain area codes in the united states that they think have rich people. >> do all of these victims report it? >> this crime is one of the most underreported crimes that we see. >> the call to rebecca poge came in from a mexican number >> it was weird. underneath the number, it said mexico >> we tried to call that number back >> your call cannot be completed as dialed. >> looks like this number isn't in service anymore the call to jamie heath also from mexico. do you think you'll ever forget that experience? >> no. no because for me, those 30 minutes my son was taken

>> cnbc has been reaching out to different agencies in mexico for weeks with no response until this week when the mexican embassy told us this issue has not been raised by u.s. authorities during meetings with law enforcement. however, the fbi did tell us they've been working with mexican officials to come up with a plan to shut this scheme down the fbi says many victims end up wiring the money to mexico or leaving it somewhere in the united states for an accomplice to pick up if you get a call like this, just hang up if it's a real kidnapping, they will call back >> shocking. all right. still ahead on "power lunch," elon musk didn't only smoke weed in his interview with joe rogan, he spoke about how he doesn't see himself as a big business magnate. so why is he running so many companies? plus, more on the rising trade tensions with china.

♪ that's confident. but it's not kayak confident. kayak searches hundreds of travel and airline sites to find the best flights for us. so i'm more than confident. kayak. search one and done. i'm melissa lee. don't call elon musk a businessman, because he doesn't think it's a compliment. that's what he satd on the joe rogan podcast last night yet he is the ceo of multiple companies. is it time for him to step

aside? and apple delivering big for investors. the rally will keep going, says one, hiking by more than $30 this ahead of the product event on wednesday and help wanted. the manufacturing industry is humming along. one company is looking for hundreds of employees. we are there live. "power lunch" starts right now indeed, it does, welcome to "power lunch." i'm tyler mathisen glad you could join us stocks lower right now as the president proposes another $200 billion-plus worth of tariffs on chinese products the industrial's down 133. all 11 sectors in the red in the s&p 500 led on the downside by real estate and materials as you see right there. within the dow, industrials and multinationals, those are the laggards united technologies, boeing, procter & gamble

and despite a down day, some retail names remain at all-time highs. dollar general, costco, ulta, and o'reilly auto. we begin with president trump upping the ante yet again in the ongoing trade conflict with china eamon javers is live at the washington bureau of cnbc with more for us today. what are you learning? >> we've got a little bit more context on the president's remarks. go back to what the president said on air force one just a short time ago, about an hour ago, i'd say president's flying to an event in fargo, north dakota, talking about these chinese tariffs. he said the following. the $200 billion we're talking about could take place very soon depending what happens with them to a certain extent, it's going to be up to china. but we've taxed them $50 billion. that's on technology now we've added another $200 billion. but behind that there's another $267 billion ready to go on short notice if i want

so what is the president talking about here some of this the president has said before in terms of a threat to tax or to tariff in the language that we use on this, to tariff china up to $267 billion. they've already put in place $50 billion of tariffs they're talking about $200 billion. that's widely expected to come next week. i think the way to read this is the president is signaling to china that if they retaliate against the $200 billion coming next week, the president is contemplating putting tariffs on all other chinese exports to the united states. that gets you up to the total dollar value of all chinese exports to the u.s which is around $500 billion so the $200 billion, plus the $50 billion already in place plus the $267 billion the president says, that would be everything so this is a threat to continue with the trade war if the chinese decide to continue with it after next week when a lot of people expect and the president is telegraphing here that he will be putting those tariffs in

place formally on china on $200 billion worth of goods nothing coming imminently, but definitely a big and significant threat here from the president of the united states >> for those at home not keeping the score card up to date, when china retaliates as it's expected they will, will those measures be qualitative measures opposed to quantitative measures at this point? have we reached that point on the china side of the ledger >> in terms of what china will do >> yeah. >> i don't know the answer to that my sense is a lot of this is still being discussed on the u.s. side in terms of what goes into the $200 billion that we expect to be announced next week that could change. the president changes his mind a lot. it's not clear that they're going to go through with this. although he's telegraphing today he is going to go through with the $200 billion i don't get the sense they're finalized in what it is actually going to look look at the same time the spt now threatening an additional $267

billion behind that. that would be pretty much tariffs on everything that the chinese export to the united states you could imagine there would be some opposed to that >> i guess just to be clear, sorry if my question was not clear to you at this point, china -- can china retaliate in kind dollar per dollar with $200 billion in tariffs? or have they run out at this next sort of round >> that's a good question. i don't have those numbers on the top of my head i know the expectation is that at some point, the chinese will be out of bullets here in terms of they export more to the united states than the united states exports to china. there's only so much china can put tariffs on before the united states can overwhelm them with tariffs because the chinese exports to the united states are so much greater than they are vice versa but where that tipping point is, i don't have numbers for that.

>> thank you, eamon. we have word from china saying they do have qualitative repercussions they can reach let's get more from bob pisani and mike santoli we saw the dow jones industrials dip on this. is it just a reflex from the market >> this has been the pattern you got about a half percent pullback in the dow and focused on the dow mostly. after a pretty middling rally in the morning. i say reflex because the power of these move and reaction to trade deadlines has waned lately >> we've seen the three things that move the market all in the last couple of days. so number one, issues around what the fed and the rate hikes are doing. we saw this this morning yields went up, markets went down lost five or six points on the s&p when the president announced maybe more tariffs and then earlier in the week, remember the market's been down because tech leadership has been faltering. the social media stocks in

particular in light of the testimonies of capitol hill. if you look at the sectors moving this week, you can see emerging markets, big loser again. social media on what's been going on on the testimony on capitol hill lumber today i noticed was limit down today on the concerns about higher rates it took another move down. >> all right, gentlemen. thank you very much. we appreciate it how worried should investors be about the rampup trade tussle? let's bring in brad mcmillen brad, let's begin with you what do you say? does this new salvo in the trade rhetoric at least make you more nervous than you were this morning? >> no, it doesn't. this is more noise and certainly we're seeing the

market react a bit, but as you just said, we're not seeing it pull back significantly. and the question is why. the why is -- the fundamentals remain sound and that's ultimately what the market responds to so it's not time to worry yet. >> when might the fundamentals -- when might this rhetoric turn into a change in those fundamentals that brad talks about? >> well, when i look at trade, i look at it sort of a couple directions first, is this a war worth fighting and i think the reality is yes a lot of trade rules have not been updated since the mid-1990s. mid- 1990s was when china was the sixth largest economy. so things need to change those rules pre-date even the european union and the you'euro we need change it's one of the few things that chuck schumer and bernie sanders and donald trump agree on.

change needs to happen why do we do it now? because we have the leverage to make it happen and we won't necessarily have the leverage in ten years from now we reached a tipping toint where you either fight a trade war or a civil war. you know, age disparity, job loss, it's created a lot of tensions our view is i think you need a non-traditional approach to go after some of these agreements because what we've been doing far lot of years hasn't worked for example, the wto rule had been debated since 2001. we still haven't seen a change >> so i understand your point. and i'm -- and i am sensitive to the idea that the practices and the rules need to change, but my question was really more directed to at what point does the trade conflict begin to spill over into economic performance, prices, potentially interest rates rising, slower

economic activity in a way that it would affect investments? >> and i think the way that we see it and third quarter is going to be a good proxy for that is whether we see de-escalation with our allies. if you're going to fight china and have a significant fight with them which it may sound it's building up to, you need to have canada, europe on your side if we see tensions continue to de-escalate there. we have a cease-fire with europe and the nafta discussions are ongoing. if we see some of that de-escalate, you can understand the plan if we start to see those trade tensions reescalate with europe and with canada and with mexico, then i think we've got to maybe reframe our argument >> all right doug sandler, brad mcmillen,

thank you very much. we've got a news alert on tesla. our alex sherman getting news on why the chief accounting officer quit after just one month on the job. alex joins us on the phone with all the details. >> what i've learned is there is a mem row coming out today that says the chief accounting officer quit because, and i quote, the level of public attention placed on the company as well as the pace within the company have exceeded my expectations what i'm learning is that, that language is not necessarily true or tells really the full story here really, he quit because after tesla's ceo elon musk tweeted the day after the began, morten son. -- and the brought out various

different challenging things to such an event. partially due to change of tesla's debt that were associated with a theoretical new shareholder. various dichbs -- was one really of sort of disinterest or maybe even borderline not cares. and i think that's the idea that led him to come to the realization that maybe this job was not the right job for him. it's not that the idea of going private necessarily spooked him or anything, but the lack of interest around the details among leadership there led him to decide maybe this was not the right job for him. >> so basically what you're telling us, alex, is the

environment at tesla was such that the words or advice were egg nored by the ceo >> that's correct. in a nutshell. >> that's never a good thing >> his statement does not conform to that thought. right? >> it does not >> he says he has no objections to the leadership, no problems with the leadership, et cetera, et cetera. >> well, i think those things actually could be correct. it's not as though -- i think he's fully in the camp that he does believe in tesla. which is what it says in the statement and its mission and future prospects and i think he feels like, you know, the reason he took the job is that elon musk is a visionary and he wanted to help take this kpoen company and sort of move it forward that if she has the amount o move over but what you saw there toeshlly was a culture that had so many

other things going going on he simply was not in a position to enact the type of, you know, financial responsibility or other things that he felt like he could bring to the table. >> all right alex, thanks for keeping us posting. alex sherman cnbc.com we are less than a week away from apple's annual september event where the company is expected to release its latest line of apple products including three new models one firm raising its price target to 218 saying more iphone options could lose to more upside let's talk michael olson from pipe ter jaffray >> good afternoon. >> people are focusing on the highest end phone and what the price for the phone could be because that would raise average selling prices that could be a boost to margins. you also say there could be a

lower end phone as well. tell us about that >> yeah. we're excited about this potential lower end phone. it looks like overall there'll be three new models. one will be a parallel upgrade then a larger screen version which would be the 10s-plus. and the one you're referring to is called the iphone 9 or the 10 lite or something like that. that would centurily be a version that strips out some of the features instead of an o --n the reason we're excited about that is because people are looking for a edge to edge form factor without the home button this would be the answer to that. >> who buys that home? and does that cannibalize in your view at all sales of the other higher priced, higher margin phones? >> we did a survey a few months

ago of iphone owners who did not upgrade. we asked them why didn't you upgrade. basically it was 31% of them said theydid not upgrade because they thought the iphone x was priced too high. there are many that are interested in t interested in what comes along with that but thought the price point was too high we also found in that sur vase that the -- they wanted a larger screen so this iphone x-plus will address that as well >> appreciate your time. michael olson from piper j jaffray. the president is in fargo, south dakota this as former president barack obama steps back into the political headlight in a big way. not just gently strolling under the stage.

he took the bull by the horns and was hoping to give a boost to the democrat. will that work plus, more on elon musk's outrageous interview he says he's not a business magnate. and kevin garnett suing his accountant forelng hpi steal "power lunch" is back in two minutes. everything was so fresh in the beginning. but that plug...quickly faded. luckily, there's new febreze plug.

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you'll only pay $4.95. this wi-fi is fast. i know! i know! i know! i know! when did brian move back in? brian's back? he doesn't get my room. he's only going to be here for like a week. like a month, tops. oh boy. wi-fi fast enough for the whole family is simple, easy, awesome. in many cultures, young men would stay with their families until their 40's.

the president is about to speak at a fund raiser in fargo, north dakota in support of republican senate candidate kevin cramer we'll monitor the event. we'll bring you any headlines that come out of it. former president barack obama is set to appear at a rally in anaheim, california, this weekend to support democratic candidates there both parties here really stepping up the efforts with 60 days to go until the midterm elections. john harwood is live in anaheim, california, with the latest. well, we haven't seen this from the former president in awhile, getting out there and grappling with politics. >> exactly, contessa he's going to come here to the anaheim convention center behind me to campaign for a half a dozen democratic candidates. orange county, california, where

i'm standing right now is filled with the kind of high income suburbs and well educated voters who have been turning away from president trump over his behavior even though the economy is booming the democratic challenger is a former protege of elizabeth warren she says she's provide a check on the president the former stockbroker says just ignore the noise and look at the results here on the economy. on the tax bill which has been a mixed blessing, took away the state and local tax deduction here in california she says it has offsetting benefits. like getting rid of the alternative benefits >> i think the tax package has had a positive effect on my district 90% of americans are going to see a benefit from this tax reform package remember many people who are in the 200 to 500 thousand dollar range, they have the alternative minimum tax. >> this is a powerful contrast

between mimi walters and me. she's looking at people making half a million dollars a year, a million dollars a year, people who are living off the stock market i'm concerning myself with working middle clas families who go to work every day >> now, this is traditionally a very republican county it was the base of ronald reagan's political operation in california, but it's changing. hillary clinton carried it two years ago. so katie porter has a chance it looks like a tossup race. they could get almost half of them in -- >> you know, we were talking about pocketbook politics earlier. the interesting thing here, john, is the tax law has not been the big winner republicans thought it would be. real clear politics says 37% approve of the tax law 42% disapprove and there are a lot of

republicans running for re-election who are not highlighting that tax law. why? >> well, it's because there are a lot of people who are not benefitting from that tax law. now, mimi walters is talking about it, but she's also addressing some of the disaffluent. she says if democrats like pelosi gets in, we'll have socialism and open borders that reflects the fact that a lot of ordinary workers are not seeing the wage increases and republicans are turning to other issues >> all right john harwood out there in anaheim. good to see you. coming up, home depot leading this week. trading nation is next

welcome back to "power lunch. it's time for trading nation home depot on a tear leading the dow with a 3% gain this week it is now just pennies away from capturing its 2018 high. and the move comes even as home builder stocks get slammed today. craig johnson is with piper

jaffray. good to see you both today mark, you've made some bullish calls. are you sticking with the view >> oh, yeah. home depot right now, they're in this sweet spot. it's going to continue for awhile the consumer is strong household net wealth has never been higher. we just saw 2.9% wage growth today wince is the highest since the great recession. existing home sales have declined now for, like months. rates going up are making homes less affordable. all of this makes us assume we'll focus on more home improvement projects one of the keys for home depot is they're able to put in physical and digital store assets the app will show you where to go in the store down to the exact aisle.

because of that, digital sales were up 26% in the second quarter. this company's doing well. we're sticking with them >> craig, how does the chart look to you? >> well, two things here first, when you go back and look at home depot. compare that to construction spending the correlation has been very close and very tight over the last several years in here so seeing no change in that trend. we'd not expect to see a change in the home depot either on this breakout we would continue to be a buyer of their shares >> for more trading nation, head to our website or follow us on twitter. let's get over to sue herera for a cnbc news update >> here's what's happening at this hour. new york's governor andrew cuomo and hillary clinton officially opening the mario cuomo bridge outside of new york city the governor driving his mother matilda over the bridge in

roosevelt's 1932 pack ard. the old tappan zee bridge has been nearly dismantled angry protesters set a fire. at least ten have died in collisions since month they have been celebrating since july a massive naval drill involving 26 countries including the u.s. getting under way on the coast of australian. baxs more at sea neck ne-- amazm video announcing heidi clum and tim gunn are helping them on a new project. >> so they're sashaying off the

runway >> yes, they are >> yes >> will you be able to buy what you see? that would be the ultimate merging there. thanks coming up, whiskey and samurai sword. businessman isn't a term he prefers. so why is he writing multiple companies? more on the fall out next.

all right. let's get a check on the markets right now. you can see the dow industrials are off a quarter of a percentage point the nasdaq just about flat the dow had been down nearly 180 points off the session lows for the day. home building stocks, remember i

just mentioned those among the biggest laggards to the downside the etf that strikes that space ticker itb falling and on pace now for its worst day in nearly a month. among the names leading that group, down on the day the oil market is also closing down on the day. >> well, crude prices backing off recent highs this week after storms in the gulf passed through without as much disruption as anticipated. oil actually went over $71 a barrel on tuesday. closing now a little bit lower on the day for the week about a 3% drop in prices remember, oil was expected to seasonally back off a little bit after labor day. this storm pop was a little bit unexpected hurricane season is not over yet. it actually runs through the end of november, so that could still be an issue. more important right now, strength in stock market will

bolster crude oil prices so is continued anticipation of iran's barrels coming offline. >> thanks very much. it's the interview everybody is talking about at least around these parts. elon musk sitting down with the podcaster joe rogan. video of musk smoking weed, drinking whiskey, and playing with samurai swords is getting most of the attention. but maybe how the ceo sees himself as a business leader should be more of a concern to investors. hear this. >> i think people don't totally understand what i do with my time they think, like, i'm a business guy or something like that like my wikipedia page says business magnate. >> what would you call yourself? >> a business magnet doing engineering and manufacturing. that's 80% more of my time >> and joining us now to discuss all of the issues surrounding this interesting interview and

more, dean crutchfield and henry bloget gentlemen, welcome very much dean with whab do you make -- wf this and should a ceo be seen doing what he was doing? >> absolutely not. but he's not a typical ceo we've been hearing he's a visionary. but leadership is not just about mission and driven and confidence people always forget leadership is about holding people's fear and you've got to hold the fear of your company when undergoing change and in this case it's been a train wreck. in that regard he shouldn't be leading a public company >> henry, what do you think? do we care what he does on his private time but this was not private this was public. >> this was not. it was in a public situation obviously everybody is talking

about. i think we do care it's not a good look right now unfortunately given what tesla's going through. you've got a series of events here starting with the legendary funding stur tweet an interview where he felt under pressure talking about how tesla could be destroyed all of this behavior doesn't engender confidence. it seems he's under extraordinary pressure i think what he needs to do is just build up other people at the company who can engender confidence in investors, who can clearly show you've got other people who have it completely under control. i think he feels it has to be all him. it's not >> what importance or nonimportance do you put on his statement i'm not really a business guy didn't we always know that's his passion? >> and that's what we know him for. he's one of the most famous ceos

in the world we all know about elon musk. the problem that elon's failed in the crisis situation he's in, he's failed to acknowledge the serious nature of this problem he's failed to get a crisis team that could handle the media. he is not responding to the scale of this crisis and he's not taking advantage of it >> henry, the board may have been criticized in the past for being cozy that's not a problem until it's a problem. right now it's a problem they've been sitting by this whole time since that august 11 tweet allowing him to do whatever he wants. >> that's right. that's why i think the board and the company, they need to bring other executives before e long i think can rebuilt quickly.

who was in the wings tim cook who has been this amazing ceo for the last several years at apple he was running manufacturing he had many other executives who were good at other things. people knew that that's what tesla needs to do. and that actually will take pressure off of elon >> that presumes there would be a founder who really wants that person waiting in the wings. where we've seen with other companies this year, look at winn resorts where you had the founder. or now what papa john's is going through and the fallout there. how much of this has to do with having a founder who this is his baby and he's used to being able to run the company the way he wants to >> i think it's a question of trust. i think we're looking at it out

here am i going to buy that vehicle and i think a lot of people are being put off. we all know bmw and maude dee and ma have their place. >> you think people aren't going to get on there because of the interview? >> it doesn't sound like a particularly professional outfit if you're going to invest 60, 70 grand in a vehicle, you really have to hit that in the right tlp. the concerned about t eed aboutt what makes you think now maybe the quality won't be good? maybe they won't produce these cars maybe i won't buy tesla. i would say maybe this stunt that elon musk pulled, whatever you want to call it. it could cause people to buy

>> i think that can work for him too. but we are talking about 60, 70 grand. so i think there's a price tag to that. >> what about the departure of the head of accounts here? does it raise any concerns for you that this company might be facing more problems with its financials >> immediately when you see that, especially when a senior county executive joins the company, he's in position to do that. it's because they didn't pay attention to me. i'm sorry. that's got a rock the confidence of even the most bullish investor and the cfo is so important any time you have a good liegs

that -- it certainly has had a heck of a tumble since the idea it was going to go private. >> and evidently the accounting official who was left is not the only one that's left from the higher ranks. >> he needs a sanburg. that's what thigh need from someone. what i heard in that first answer was elon, call me 1-800-crutchfield. dean crutchfield, thank you. henry, thank you as well business insider. >> great to be here. >> coming up, kevin garnett suing. plus she's the tennis legend who served up gender equality in her sport. now she's tackles other names in

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and just yesterday on "power lunch" we talked to golden state warrior andre iguodala about his push to get more athletes involved with their finances today a new story out about a former nba star kevin garnett suing his accountant for allegedly helping his wealth manager steal millions of dollars from him eric chemi joins us now with the details. >> that's right. the number is huge $77 million. kevin garnett suing his accountant saying he allowed a wealth manager named charles bank to steal money from garnett's accounts he also partnered on some business deals banks has been sent to prison for four years for defrauding tim duncan garnett alleges he knows about the money being stolen and he helped conceal the theft some of the stolen money were used for a lot of robert frank's

projects a lot of fancy trips garnett was making $326 million. $77 million that would be nearly half of his after-tax income he is confident the matter will be resolved in their favor i talked to a couple of top sports executives. i'm told often these get discovered once players retire and the income stops coming in this is just the latest example and highlights the need for well vetted fiduciaries for pro athletes >> so he goes and tries to sue to reclaim this money. is there any money to try to reclaim? >> probably not. but i think part of this is to set an example for the rest of the athletes maybe he can get $5 million back but he's not getting $50 million back i'm assuming it's a sad story >> thank you the u.s. open is celebrating

its 50th anniversary the fact it includes men and women players is due in large part to trail blazer billie jean king she is still fighting for gender equality on the court. i sat down with her before the women's match last night >> i understand gender equity. i understand equal pay because of the tennis business people forget. they think of us as leisure. you guys, this is our business it's business for us but we fought very hard to have equal prize money. and the u.s. open was the first major in 1973 to have equal prize money for men and for women. >> i sat down with venus and serena earlier this year and talked to them about equal pay in the workplace why in 2018 are we still talking about it >> sports are a microcosm of society. men still make more money in

tennis than women. but the wonderful thing is the four big majors, we are equal. that sends a strong message. >> through the billie jean king initiative, she's now partnering with biggest names in business disney, starbucks, and caesar's which is a company i cover in the gaming industry. here's what she told me about it >> our job is to work with these companies in any way we can to help them. i think what they like from us is the inspiration to get people on board, to convince people that this is the right path to take men are much better than they used to be the younger generations are fantastic. the millennials and genz are the two greatest for inclusion i have ever seen >> bob iger was at the event last night he said, for instance, at disney if they have a man and woman coming into new jobs even if the woman has far less experience, they're paying her the same as

the man coming into the job with more experience because they want to overcome that disparity. starbucks is doing some big things on looking at pay parity. they're going to make their process available to companies across the world for free so that other companies can take the world for free so other companies can take advantage of what they've learned and caesars has invested millions studying pay parity 98% pay parity across the board. set some examples for other companies and other industries >> so iger said they're paying equally to women and men in the same job even if the experience is different to make up for past inequities >> and he was challenged in an interview at this event last night about things like movie roles, that we hear about actors having different pay for similarly important roles. and he said but we're trying to

overcome that by recognizing that there's been a problem and by doing something about it and trying to move forward >> all right >> good work by all. thanks, contessa coming up, help wanted the manufacturing industry is looking for workers. in ohio with more, hi, kate. >> that's right. as you can see behind me this is all modern manufacturing we'll tell you what that means and why the manucting ctfaurseor is looking for workers coming up after the break on "power lunch. need a change of scenery? kayak compares hundreds of travel and airline sites so you can be confident you're getting the right flight at the best price. cheers! kayak. search one and done.

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welcome back, everybody, to "power lunch." the manufacturing industry has been on a hiring spree under the trump administration even in the face of looming tariffs. but finding skilled workers has been an ongoing challenge. kate rogers is live in twins borough, ohio, with more >> here at this facility they're using modern manufacturing they're making products like programming logical controllers, like mini computers used in industries that range from pharma to the auto sector and more

their process also uses a connected enterprise system they say makes the job more efficient. the company has a message, that automated manufacturing doesn't cut the human factor out of the equation >> it's people working in close concert with technology but still using what people do best, using their enginenuity and their decision making skills to be able to add additional productivity on top of the basic technology >> rockwell is looking to hire about 140 workers in manufacturing roles here in the u.s. they do want the really competitive benefit package with things like health care on day one of starting the job and things like college tew titian reimbursement. now 350 jobs have been added in the manufacturing sector but experts say another 5,000

workers are needed for things like baby boomer retirement and things like that back over to you guys. >> and how are things impacting the company? >> rockwell is taking a wait and see approach they say they do support a thoughtful refresh of nafta, but they want to make sure the business we have with our trade partners and on tariffs they're in a wait and see mode enngani inth'rcts customer spdi, d thk eye waiting to see that impacts their bottom line. >> check please is next. let's begin. yes or no? do you want the same tools and seamless experience across web and tablet? do you want $4.95 commissions for stocks, $0.50 options contracts? $1.50 futures contracts? what about a dedicated service team of trading specialists? did you say yes? good, then it's time for power e*trade. the platform, price and service

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all right, so we've just learned that mgm is now partnering with all of the colleges in nevada to offer 72,000 u.s. employees the opportunity to go to college for free they can go online and take classes at unlv or university at nevada reno or other colleges. any level of degree or complete their degree and mgm will pay for whatever financial aid doesn't -- >> all online and only nevada-based schools >> yes, but they can do if work for mgm in massachusetts or national harbor. >> let's talk nfl ratings, shall we the ratings good news and maybe

not so good news for the first game of the season last night the eagles versus the falcons it was the top rated sporting event since the olympics on nbc. the ratings were down 8% from the season opener from last year it was rain delayed and not the greatest game. >> thanks for watching "power lunch. have a great weekend >> "closing bell" starts right now. welcome to "the closing bell." i'm david faber in for wilfred frost today. >> and i'm sara eisen here for kelly evans. we're going to talk to the ceo of mondelez, his thoughts on president trump's trade actions on what he's seeing in china in terms of consumer behavior this is company, david, that sells snacks around the world but mostly outside the united states, more than 70%.