eet us at cnbc the exchange. that does it for us today. i'm going to go join tyler and melissa in a minute on "power lunch" which begins right now. >> and welcome to "power lunch." i'm melissa lee along with tyler mathisen kelly will be joining us shortly. we are watching this market move higher, plus a big interview with the ceo of viacom, but we begin with breaking news on the fed. >> melissa, we got a little definitional help in the latest edition of the fed's minutes the frad that caught everyone's attention in that december fed statement was that the fed judges that some further gradual increases are warranted. the minutes show that the addition of word some was intended to independent kuwaica relatively limited amount of additional tightening. the minutes say the use of the word judges is supposed to convey that the fed is data dependent. it underscores the fact that the economy is uncertain about how the economy will evolve. there was a will the of debate

over the solid economic data versus the wild swings we saw in the markets. and officials felt the economy is strong, but the market volatility, the outlook for global growth, trade tensions, all that weighed on fed officials during this meeting. they said there's downside risks combined with the fact that once the december rate hike was factored in, the rate would be at or close to neutral all those considerations made the extent and timing of future policy firming less clear than earlier rm the minutes talk about the desire for patience. the fed wants to see how these risks unfold, how they effect economic activity and how the impact of previous fed rate hikes play out in the real economy. now all of those factors help contribute to the fed lowering its gdp forecast and also the notch down of projections for the fed's fund rates in future years. the minutes also show that a few

participants did not want to raise the rate in december they said there's little sign of upward pressure on inflation and wanted to see the markets calm down before they made a decision we know those doves lost the argument at least for now, but the fed did talk b about possibly eliminating forward guidance in future statements. all fed decisions are dependent on the outlook for the economy they want to ensure the statement emphasizes that point. >> thank you so much steve, b wabt to get your reaction the markets have ticked higher on this. everything she said sounded like the fed was more dovish than what the ensue iing press conference had indicated >> remember we were waiting for a dovish hike. this is the dovish part of the hike there's a couple of things that are dovish here. i think she really naileded it in a couple of respects. i think you have to take what she said in context with what we heard today. the center has shifted towards we're at neutral right now. there's some guys who are leaning, there are guys in the middle like rosengren who still

wants to do three hikes, but he's in this we are patient camp and that's where we are right now. the i think almost the entire fed right now is ready to wait and see what happens rosengren this morning leaned against the market and said i think you're wrong i think i'm going to be right if my view will prevail, but until we know, i'm on hold evans, same thing. i think we're going to do two or three hikes this year, but right now, i'm ready to wait tha the message from powell. but i want to highlight one particular line here some fed participants said it was possible to slow the pace of the decline in reserves in approaching the long run level of reserves. what does that mean? >> important line. >> hats off to krishna i talked about this first then read this idea of tapering the run off as we near the

destination. we don't know where the fed is going with the balance sheet runoff they have never officially said. we know that market participants as surveyed have said 3.5 trillion we're at 4 now i think the bottom line is the fed as they get near to where some end point they're going to may be possible to slowdown the balance sheet run off. >> as they get closer to the landing scr ining strip. >> beautiful can i use that from now? i'm always looking for a good metaph metaphor >> we'll see if that is picked up in commentary we have tomorrow from powell evans, bullard all four i think or may be five speaking tomorrow. and we'll see if that gets amplified in what's out there. but the fed has gone from wanting to hike to still wanting to hike, but the operative phrase is the fed is patient >> is powell going b to be

speaking off the cuff? he's had more success reading off a a piece of paper >> you're right about that people who noticed on friday. >> from "the new york times" asked him a question he went to the paper and there were some people who read more into that. what they read into that was powell has now figured out that in communications about future policy, he can no longer be off the cuff he's got to get it right and that was confidence instilling better if we -- no, but now that he's look, remember, the october 3rd remark was made off the cuff >> yes >> to judy woodrough where he was trying to do something different. talk to a lay audience powell has made talking to the broader public part of his policy i think in that effort, he forgot b about home base >> which are professionals >> getting that. >> we mentioned this i think it was on friday.

that there is a obviously his words matter in terms of the direction of policy. i think he has been learning lessons about messaging. on the b job >> very quickly. >> and that -- >> i think the key, the way i look at it is powell was running the tape on the yellen playbook and that worked for him up until about october. if you think about what he did, it was pretty much as as laid out by janet yellen. he has to personally guide i think he wants to hike i think he's going to wake until the market is with him >> thank you very much steve liesman, good to have you u on the desk. >> to bob on the floor of the new york stock exchange. there has been a reaction down

there. bob. talk us through it >> it's more dovish commentary and i think rosengren was the key today and steve did great job there. market sentiment may be pessimistic. rosengren laid out a good case there for why the economy is doing very well. here's what i would point out. december 18th or 19th, we're about where the markets were, but the world changed dramatically we dropped 2,000 points in the week or so after the fed meeting and partly on the fact they appeared to be fair ly aggressive so the world changed dramatically after the meet og cured and they were a part of that whole volatility. remember we had issues on trade and tariffs. since then, we've had the clarification from powell. we had tariff talks that are incuring this week china and the markets turned around

since the bottom, the s&p 500 is up about 10%, so we drop 200 points on the s&p. then all of a sudden, essentially get a good part of that back. so right now, the dow, s&p is up 10% from its low oil is up 21%. vix down 45% from its low. kelly, back to you zpl thank you. over to the bond market now where yields on the two-year are moving lore. rick santelli tracking that for us >> yes what's interesting here is that the tens for the most part have been rather buoyant. as a matter of fact, as kelly pointed out, the new dynamic as of today and last night seems to be a curve steepening if you open it up, you can see how we've adjusted higher. it's subtle. why do i bring it up because all things being equal, if we take the statement at face value, if the economy is doing a

bit better in the market and it's realizing that, there's more sper action between what the fed may do and what the market's telling them it thinks they should do, ultimately, the curve should steepen. the short end should be less calibra calibrated sort of what we're seeing. even though the dollar index is only a few ticks away, it was down about two-thirds. now down almost three quarters if the fed is less aggressive, that takes one channel of being long the dollar away ultimately to look at every word that any fed person says and hold it as moses set in stone in rock is a mistake in the market and investors need to learn. so does the fed. that process may be the optimism underscoring some of the communications between markets and fed. tyler, back to you >> thank you very much let's bring in barry james and

j joe. what did you see that stood out to you and do you read it any other way than steve put it, that this was the dovish part of the dovish hike. >> i'd agree entirely. the market is essentially getting what it was hoping to get out of the federal reserve which is hearing that this we're no longer on this predetermined path towards hiking rates. and it truly is data dependent i think so long as the u.s. economy continues to move a little bit higher, we can't ignore the possibility of another rate hike, but certainly markets ahave discounted that >> the words were this the extent and timing is less clear, barry james, so that would suggest there is wiggle room in the fed's future here let me ask you a direct question with the dow, the nasdaq up even more, s&p, russell, all up 10%

or greater since december 24th, can you, will you, do you feel confident in saying the bottom of that correction may be in >> i would say i'm confident on some stocks. not all stocks you know we look at last year and there's that movie out the terrible, horrible, very bad, no good day, month, year, quarter, that was last year if you took a logical, historical approach to valuations and managing portfolios that's all changing today. this year. and so i think that if you go back to value and basbasics, it going to be a good year and if the fed holds and doesn't have any more hike, generally, the market goes up a year after. so there's some good things there. but i think some of those overblown expensive stocks will probably just remain in a volatile area for quite some time >> but that's not what we've seen in interpretterms of this r

when you look at the top leadership of this rally, we're led higher by the same stocks that probably led us lower it doesn't look like the character of the market has changed that much even though we have prognosticate or after progress nos kart come on saying it's time for value at this point. >> i think generally speaking, you could look -- >> go ahead. >> go ahead, joe >> i think generally speaking, you could look back at how the market behaved in december and perhaps you can reach the conclusion that some of this was in fact technical. some was yoef sold especially considering the underlying strength in the overall economy. so i'm not is surprised that you would see the same companies or stocks that led markets lower in december really leading this charge back up in january. at least in the first couple of weeks. at the end of the day, we have an economy expanding we have earnings continuing to grow granted at a much slower pace than last year, but these things are supportive to eck quity markets. now it's important that we keep that in perspective and weigh it

against the risks out there, but it's not necessarily all doom and gloom. >> joe mentioned earnings. why don't you pick up on that and spin the film forward to next week and the week after when the earnings season gets underway i bet you would stay that what the companies did is less important than what they say about what they may do >> i think you're nigright on t. as we look at it, they've been desperately trying to lower expectations so they can beat them once again, but they're not going to beat them 20, 25% gains they had in 2018 if you don't have that supporting the market, it looks to the base. the strangest thing we found last year, if a company had no earnings, it was up on average 17%. if it had earnings, it was down over 7%. last time i saw that was 1999.

the next year right back to value. that's where i would be putting my money >> thank you very much appreciate it. >> thank you consolation brands tumbling. we'll talk to an analyst who upgraded the stock on monday what did he miss how is the government shutdown affecting craft breweries? we sent frank holland out to find out what's going on frank. >> the shutdown is impacting all makers of alcohol, especially craft brewers. coming up, we'll show you how se fight over building the wall istopping this company from building their craft brewery business that story coming up

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like magic. at comcast, it's my job to develop, apps and tools that simplify your experience. my name is mike, i'm in product development at comcast. we're working to make things simple, easy and awesome. shares of consolation brands dropping by about 10%. this as weak wine sales and the canvas companies as well consolation is cutting its outlook. he just upgraded from neutral on monday pablo, thanks a lot for joining us it was a good call

this guidance probably caught you by surprise. 20% below consensus estimates is quite a degree of magnitude. >> in part because we felt it was reflected in the business. the low 20s to mid teens almost if line with president trump the drop of about $70 was more than reflected in terms of the job in the canopy growth investment as well as the market downdraft. the report that locked decent, we and other people had become more distracted into a print and we wanted to be neutral in front of the numbers what happened today with consensus, there were some

questions about underlying growth there are extenzes and the core business could be in the slowing. and actually falling at the same time, there's this bigger cash flow question. it's 4 billion this canopy growth may have to invest another 5 billion in two and a half years and they generate about 1.3 billion in free cash flow every year in the balance sheet that could constrain. >> what happened with wine and spirits? >> the issue there is wine and spirit business about 30%, they went to bring the trend if beer and wine and spirits

it's only 30%, they have a big tail they have to fix. that's an issue, demand for low r price wine it's not strong, it's declining and they're suffering because of that they have operating leverage issues there. if i step back, this is a story that's been beloved by the hedge fund community robert sands is stepping down. he's had 800%. so it's a great story in growth. an a great cash flow story it was being returned to shareholders and buy backs and they went to an efficient balance sheet. the growth story right now could be broken. that's the question mark and you have all these big commitment with canopy growth and future investments. >> so you made clear it was a balance sheet risk story going into this year and perhaps

following year with the declining growth story in question and potentially hiring interest rates how exposed is consolation in terms of its debt payments and a should we be concerned about the balance sheet? >> right what the company, to be clear, what the company founded in terms of balance sheet and cash flow for going forward they want to return $4.5 billion. also be able to exercise the warrants in canopy growth. the free cash flow of the year is 1.2 billion and they exercise warrants outstanding on -- by the end of november 21 that's another $5 billion you have to invest so you know, could there be an issue at some point in

consolation has to do. so just to rub up, you have a core business that's great to risk the industry, but seems to be slowing particularly for the core brands then a company that this two years starred to invest almost nine, $10 billion in cannabis when the market cap. it's 30 billion. so yes, there's potential no doubt, but there is a balance sheet risk >> and be sure to tune in to mad money tonight. jim cramer will be speaking with the ingoing and outstanding ceos of consolation brands. at 6:00 p.m. craft breweries have been collateral damage in the government shutdown. frank is live at a prubrewery to explain. >> good afternoon, kelly the government shutdown is costing the maker of this craft beer more than $1,000 a day. we're here in northern new jersey and you're looking at a million dollar investment na the owners of this brewery made in this building in equipment and even in raw materials without

any thought of government shutdown brewing pun intended, but it's a big problem. the government shutdown has closed a little known part of the treasury called the ttb that issues the licenses they need to expand they can't expand. can't make more beer, but the owners have to pay rent and pay back the loan to pay for this equipment. they say they're missing out on equipment. they have orders for double the amount they sold in 2018, but again, they can't expand and make all that beer we spoke to the chief economist of the brewer's association. they can't open up until they open back up there's thousands of existing breweries that can't get news or put out new blends until they open back up that's a bigger deal than you might think. we spoke to a chief economist. he says the summer months when brewers make about a third of their income labels are really important.

the ttb approved almost 200,000 last year. also right now, some brewers tell us is when they lobby to get those spots on shelves for the summer months. spirit and winemakers are also impacted so it's a widespread impact on the alcohol industry >> all right thank you very much for that frank. appreciate it. crude oil rallying again today up 11% in a week is now the time to jump in on energy stocks and a $100 billion divorce. jeff bezos and h we isifare splitting. what could happen to all that amazon stock amazon stock that's next on "power lunch. 44, 45, 46... how many of these did they order? ooh, that's hot. ♪ you know, we could sell these. nah. ♪ we don't bake.

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introducing the all-new lexus es. a product of mastery. experience amazing at your lexus dealer. big news out this morning. jeff bezos and his wife divorcing. the statement released on twitter was very amicable. but billions of dollars are at stake. >> he suggested this will be amicable saying we see wonderful futures ahead as parents, friends and partners, but what could it mean for amazon bezos owns just under 80 million shares or 16% of the company now washington state is a community property state

that mean all property and debt acquired during a marriage will be divided by the court if they can't reach an agreement now the bezos' were married in 1993 amazon founded a year later in 1994, so that means mckenzie could be entitled to half his stake on the company that would be $65 billion which would make her the fifth richest person in the world, but divorce attorneys in seattle tell me they probably have this all worked out already before the announcement and it will never likely become public they say the deal probably allowed bezos to retain ownership or at least voting vol of those shares to ensure there's no impact on amazon. >> so we'll noefr know >> saying the tweet was a little premature?

>> a lot of billionaires say when they get divorced initially, we're still friend, then things go wrong so i would not rule it out >> thank you >> energy on fire is the best performing start to start the year all up double digits from december lows. mike, take it away >> we have blue line futures and stacy gilbert of susquehanna to take up the question can we call it the bottom from your point of view >> i wouldn't go there yet i think there's a bottom here. trade iing it is one thing, but you're going to buy as an investment, you can't let fomo take over. where you want to be b buying was weeks ago and capitalizing here there is overhead resistance heading into august 2017 february 2018 and really the xle is going to be in a down trend until it closes out above.

got to get it close there. >> we think there continues to be attractive investments where we see investors maintain the positions. fundamentally, just quickly, one of the things we would concentrate on is this isn't just a buy a basket. this is pick your names that you know analysts have both highlights you have to focus on the good balance sheet, particularly those with free cash flow growth here two name, oil services side, chuck's top pick $55 price target 30 plus percent upside bullish flow on the options. pioneer natural resources, 192

price target we see 30% plus upside over the next year. >> all right. know what you own. always a good rule for more trading nation, head to our website or follow us on twitter at trading nation. >> thank you, here's what's ahead on "power lunch. the government shutdown starting to hurt the ipo market a top attorney tells us what he's hearing from clients. plus, our special series investing for a lifetime continues today. smart tips on what to do in your 50s. and viacom's ceo joins us for a first on cnbc interview, that's all coming up here on power. >> and now, the latest from trading nation.cnbc and a word from our sponsor

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hello, everyone. i'm sue herera here's your cnbc news update president trump meeting with republicans on capitol hill to try and hold congressional

republicans in line on the 19th day of the partial government shutdown afterwards, he repeated his demand for a border wall >> the republicans want border r security national security. they want a steel barrier or a wall of concrete, they don't care, but i'll use any term they want but we need a barrier to stop the human traffickers and the drug trade and to stop all of the big problems incloudining gangs. >> chuck schumer calling on president trump to withdraw his nomination of william barr to be the next attorney general, saying he is not the right man for the job. >> last month, we learn ed that mr. barr sent the swrus tis department an unslmemo criticiz the investigation. it only heightens the stakes for mr. barr's nomination.

>> you are up to date. that's the news update back to you, melissa >> thank you coming up, a chunk of the gains on the back of the fed minutes. we saw stocks spike to session highs. the dow is up by 108 points or hab about a half a percent the oil market meantime closing for the day. crude rallying about 5% today. up 12% in the past week. zpl wow. we're in day 19 of the partial government shutdown and the sec is largely dormant the longer this goes on, the harder it will be for ipos to meet their timelines our next guest is an attorney focused on tech and life sciences he's helped companies like twitter, roku and yelp go public welcome. >> hi, thanks, kelly >> what do you think the main affect is going to be as the shutdown drags on? >> yeah, look, i think there's two barriers we're facing here one is just when is it going to open and the uncertainty that's creating and for companies as to when they're going to be able to

go but really what ultimately is going to impact them is with each passing day of this shutdown, the sec is just going to be continually backed up because people are companies are moving ahead, filing, because edgar is opened. you can make a filing. filings are backing up and it will be a question of how the sec unpacks that backlog >> i thought it was interesting you said a company like ub ber has resources to stay private a little while longer. tell us about the companies that are in a jam to get b public and might be caught up in this >> yeah, if you think about a sec r tor like bio tech, medical devices, these are not companies that have the luxury of a big balance sheet, they're counting on this ipo as their next financing round to move their trials ahead do the other things they're planning to do make filings are the fda and this backlog then the shutdown and the backlog are going to cause them to have to think about alternatives

they're scrambling for plan b which may not be that attractive and may not be available on reasonable terms because they don't know when the shutdown will end or when they'll clear out. >> when you talk about the backlog of filings, we can we think about all r sorts of filings sent to that database, are you talking b about not only ipo filings, but capital raises, earnings, give us an idea of how big this could be once the sec, once it's 4400 employees get back on the job. >> yeah. it's a great question. and it's one because you can now certainly for an ipo and a follow on in certain circumstances, submit confide confidently. so all the things you're see ong edgar, there's a whole load more that are submitted confidently certainly every initial filing for an ipo is confidential so the backlog is hard to figure

out. but based on you know, what i know bank eers, others in the area, others who do what i do, it's large and growing because the ipo this year was, is is hopefully still, going to be a big ipo year and i think to some extent by the way, the uncertainty of the market fluctuation has increased the number of filings because the ability to say don't worry, i'll do it later, can do it when i want has people a little spooked even before this shutdown >> will some companies that might have intended to go ipo earl lly thfine themselves in a position where they have to sell to a separate private buyer or secondarily, go to an unconventional financing source though private equity isn't that unconventional to raise capital. >> yeah. i think that's, that will be a real possibility, particularly in bio tech medical device space

where companies will run out of money. i think you'll see private financing is done perhaps at valuations you know akin to their last round where they would have been looking for a step up in the ipo. but they're forced to kind of go at a valuation that's lower just to get some money in the bank. >> all right, alan, thank you. appreciate it. >> pleasure, b thank you coming up, day three of our investing for a lifetime today, we get advice for people in their 50s when big decisions need to be made. what do you need to arstt moving out of stocks into bonds the answer's next on "power the answer's next on "power lunch. ooh. so, why don't traders have coaches? who says they don't? coach mcadoo! you know, at td ameritrade, we ocess to coaches and a full education curriculum- just to help you improve your skills.

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risks, charges and expenses. go to flexshares.com for a prospectus containing this information. read it carefully. there's some good music for you. our investing for a lifetime series continues if you're in your 20s and 30s, just get going compound interest and time can be your friend hit your 40s, auto escalate your retirement savings plan putting it into high gear, increasing the amount you put away every year today we focus on plan ining if your 50s here with her best tip, jerry

powell, ceo of pel wealth. i remember my 50s, jerry zpl me, too. >> they were good types. let's see. my guess is that people in their 50s who are thinking about retire, even if they're thinking about retiring 20 years hence as many more of us are today, might tend to get a little too conservative too early and get defensive, go into fixed income even though they've got four more years >> a really long time to plan for. so people tend to do that. one of the things i think people need to think about is a strategy where as you're in your 50s, you start bucketing money building a bucket of money made of less risky investments that will provide for two to three years of your retirement paycheck so that when you retire, that's the money that's going to pay you in retirement and then you can have more money invested

risky. you never want to take money out of a market to fund your retirement >> let me ask you two questions. where do annuities fit for the the 50-year-old? target date funds fit? >> okay, annuities after the 2000 market corrections and the tech downfalls and particularly after the great recession, boomers and retired people started saying i want my money to grow. but i don't want to lose any money so the great thing that annuities do is that they provide an ability to get an income stream if you're essential expenses so how great would bit if you had an income stream you knew you could cover your. >> howard: your food >> these are the sort of single premiums, those kinds of products >> single premium an you get a rate of return that can go up,

but not down depending on what the market does they have expenses in them, but you're paying for a hedge thing. maybe right for people, main not. but something to look at to cover the expenses, so a good portion. >> some people love them, some hate them. >> a lot of people hate them because they don't understand them or know enough about them >> target date funds >> target date funds are good if you don't have a lot of money and you want to just start investing and you want to put things on autopilot and you're not getting a lot of advice. on the other hand, they're r very, very cookie cutter so your risk tolerance may change, but you're going to awe though change it so as you move into a dimfferen risk, from 30 to 40 or 50 to 60, they'll move you, but you may not want to be moved 401(k)s auto default are target funds.

so p you have a lot of money in a 401(k) and you auto defaulted, you'll be in that target fund. you don't want your nonqualified money in a fund as well. >> is there a number if i make say $150,000 a year. is there a number that i should have in mind as my investment corpus for the day i retire? is it ten times my current salary 20 times do you do that kind of game theory >> do you want to sail around the world on a yacht or stay home and play ping-pong. >> i want so eat cheese its. >> that's really the answer. some people want to play golf and join a country club. others want to play ping-pong and one is a lot more expensive. this is my biggest piece of advice we work so hard. americans and everybody knows this the studies show we work harder

than people around the world and yet, we don't spend any time thinking about how to plan for it right? so you haveto plan especially when you're in your 50s and take time to do it but it's a pain in the neck, but what do we work so hard for so you have to figure out exactly what you need. >> thanks for the advice appreciate it. they're going to bring me cheese its tomorrow >> share them. >> the boxing day bounce continues today. dow's up nearly 10% since the day after christmas. we're watching all the market moves for you. dow's up 151 up next, going live to vegas for up next, going live to vegas for an intervismart fridgeceo of ber is unnecessarily complicated. but you're not mad, because you have e*trade which isn't complicated. viacom their tools make trading quicker and simpler. so you can take on the markets with confidence.

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here is viacom up 12% but if you take it further down 66% over five years as they struggle to deal with streaming giants like netflix julia. >> melissa, thanks so much i am joined now by bob bakish, ceo of viacom. before we get into what is going on at ces, i have to get into cbs. will the two companies merge

>> the more things change, and we are certainly seeing a lot of change here, the more they stay the same what i mean by that is the narrative that something is going to happen. the third time through the narrative. who knows. we are focused on continuing to run our company and execute. we just closed a quarter which we can't talk about. you look at the fourth fiscal quarter of 18. we returned the company to earnings growth. you look at revenue growth 19, we will continue it on a full earnings basis. revenue growth that is all about executing against the assets we already have >> yesterday, a report of more merger talks sent your stock up 3% higher. everybody is talking about disney, fox, at&t, time warner, both of those colaunching direct to consumer service. >> that creates tremendous opportunity. two things are happening

simultaneously as the industry in the broader telco infrastructure evolves, you are seeing some companies moving to more of a vertically integrated model where they pull it back from the marketplace to support their own initiatives. you look at the arc of viacom in the last two years, clear turnaround story across paramount pictures where we delivered seven straight earnings quarters and a number of hits including most recently "bumblebee." we have mtv and comedy central we are making great stuff and there is a lot of demand out there to sell. >> netflix and hulu, et cetera in light of the other players pulling back are you not concerned new streaming options like the at&t or disney ones might hurt tv ratings or your subscription revenue? does it not all impact the

traditional model as well? >> well, first of all, in terms of the current day we are part of streaming options from both companies. hulu, we are a significant supplier from the paramount and media network side at&t, we have six services on at&t watch, their low cost mobile skinny bundle we are part of those about you we are going from a world that was one-sized everybody had a bunch of networks feeding 85% of people in the u.s. to a tiered model. different consumers are taking different products and there are streaming options. it is about adapting to the echo system and creating opportunity. having the largest portion of our content and volume in a traditional ecosystem. that is what we are focused on

>> some of your brands will be excluded from the skinny bundles, where is the opportunity for growth >> i think there is a lot going on here. if there are two takeaways from walking the floor, and i walked it yesterday there is a tremendous amount of activity around more broadband capability, called 5g. as an alternative to a cable modem. fixed wireless high bandwidth devices, that is coming that is a freight train. the cable guys, they announced their next generation from one gig to ten all of that band width will have to be supplied videos the last bastion of video-free time and it is coming and that will be great for us >> faster streaming and more time for people to watch behind the wheel would be a good thing

for the industry bob, thank you so much for joining us tyler, back over to you. >> julia, thank you so much. >> julia, thank you so much. check please is next hey, darryl! hey, thomas. if you were choosing a network, would you want the one the experts at rootmetrics say is number one in the nation? sure, they probably know what they're talking about. or the one thatsays is highest in network quality by people who use it every day? this is a tough one. well, not really, because verizon won both. so you don't even have to choose. why didn't you just lead with that? it's like a fun thing. (vo) chosen by experts. chosen by you. get six months apple music on us. it's the unlimited plan you need on the network you deserve. now buy the latest galaxy phones, get galaxy s9 free. [kno♪king]

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that abc might want in on the idea of going hard after cbs or fox's nfl sunday package we talked about how nfl ratings are better this year abc owns disney and espn they need the content. they will continue to pay for it viewers are still going there in terms of live sports >> very interesting. >> i am watching two stocks in today's. apple and skyworks skyworks both of the stocks are moving higher bad news, price action that is good news and something to watch >> we began the hour with the fed minutes. the operative word is that they defined what they mean by some future further rate hikes meaning they would be relatively fewer in number. little reaction there today. there is apparently a lot of fed speak tomorrow including jay

powell giving remarks. that will be something to watch. reaction to the fed. the fed seems to be calling the tune these days in the market. >> let's hope jay powell stays on script. thank you so much for watching "power lunch." >> "the closing bell" starts now. ♪ good afternoon and welcome to "the closing bell." coming up here on the show, ken fisher and liz ann sonders we will have them here to discuss the latest market moves and strategy >> nike getting a rare downgrade today. first, check out the market rallying the fourth day in a row the winning streak continues good for a gain of a half percen