good morning it is 1:00 a.m. at samsung headquarters in south korea, 11:00 a.m. on wall street. "squawk alley" is live ♪ ♪ good thursday morning. i am carly fiorina with morgan

brennan and jon fortt. getting breaking economic data on oil inventories, pushed back a day because of the holiday shot ened week >> numbers just out from the energy department show weekly crude inventories were up 3.7 million barrels, compared to 3 million barrel increase for estimates. west texas crude down slightly ahead of that report they're still.n down a third percent. and also seeing gasoline inventories down by 1.5 million barrels, they have been forecasting decline by 500,000 barrels as well. there's the oil and gasoline check. carl, back to you. >> dom, thank you very much. markets are down on tech stocks they have been on a tear of late the nasdaq looking for a ninth straight day of gains, on pace for nine consecutive weeks in the green, longest streak in about a decade, amid ipo headlines for lyft today

2017 debuts up more than 180%. is there still value in tech as the sector begins the melt up? good morning, guys good to see you both >> good morning. >> jeff, what do you think the lyft report means. >> the ipos that have gone out the last few years have done well we see demand among small cap fund managers and tech investors in public markets, and amazing crop of companies in the private markets as you highlighted in the show a ton of money into private companies in the last five to seven years. what you've got is strong, well run companies generating hundreds of millions if not

billions in revenue and ready to be public companies. lyft is an example others, uber, airbnb and others, and we think they'll do well as previous classes have from 2018 and 2017 >> lou, you own big stocks including amazon, microsoft, but also sales force, adobe also big. in a different tier and fighting with each other. is this experienced economy around software more of a winner take all thing or do you place multiple bets on things that all of the companies, sales force, adobe, sap can win >> i think at the end of the day the industry is growing so rapidly that there's enough room for all of them to grow to some extent, and they're all growing in different areas and places. again, diversifying the investments i think makes sense.

and because growth is so powerful of the entire industry, look, the cloud industry is estimated to be 150 to 200 billion today. it is likely to double or triple in the next three to five years. there's plenty of growth to go around for all of them >> jeff, in terms of the ipo pipeline, are profits going to matter a number of these aren't profitable yet and markets are more volatile in recent months, investors are pickier about what they're potentially picking up. >> profits always matter ultimately everything is valued on profits at some point but, you know, investors made a lot of money as your other guest mentioned, if you like adobe, docu sign, that's a $9 billion company that went public two years ago. amazon with aws which is now a $25 billion a year revenue business, made money on twilio these are companies with exceptional growth rates and in

private markets you see companies uber, airbnb and slack and others that are private and have unbelievable growth rates, and high gross margins, future profitability ahead of them. what we've seen the last couple years, investors had a strong appetite for growth, giving the companies high valuations because of growth rates, looking for profits down the road, seeing gross margin as leading indicator of profits down the road. >> cramer making the points if we get a new land rush on ipos from lyft and others that they rob other u.s. equities of oxygen, is that true >> i think the companies we own are proven business leaders, the business model has proven, the growth is there, and valuations to me aren't all that egregious

at these levels, particularly some of the bigger companies in the space. smaller companies will have their day in the sun at the end of the day, those can be more volatile depending on your appetite for risk, invest appropriately >> jeff, is there any specific advantage that you see smaller companies, younger companies, tech companies having in this environment? i think back, there was a time open source and younger tech companies had, and moving to the cloud was things younger companies were doing now big companies are doing so well in these areas, as you look at some of the companies coming to ipo that recently ipoed, do they have a specific advantage other than they're smaller and perhaps nimble >> jon, that's a great question. the tech advantage is harder to

g get today. amazon, facebook, google, apple are investing heavily in ai, self driving, what we look for on the private market side are companies with a distinct advantage in the way they built their business i will give you an example, a company called posh mark, in the e-commerce space, built an amazing community of over 5 million sellers and buyers that's hard for amazon to replicate. look what peleton has done and the subscription service like netflix. you bring up a great point, companies come out and go public, what is their unique advantage. they have to have something different than the large incumbents they compete with because the large incumbents have billion to invest in r and d and are investing in cloud more than 10 or 20 years ago great point. >> lou, yesterday, e marketer forecast a digital advertising

spending will exceed traditional this year. we talk about facebook, alphabet, and this report points to amazon taking more market share. are those three companies to focus on as an investor if you want to be exposed to the growing piece of advertising dollars or are there other opportunities as well? >> well, i think the leaders are showing their leadership, right? it is a 650, $700 billion pie that's quickly being disinter mediated by the digital platforms. fo google and faeb acebook are leas there. facebook commands 10% or so of global advertising pie, google much greater again, those leadership positions will likely continue they've got the scale, the eyeballs and returns for the advertisers, which is the most important. sure, there will be smaller

players to benefit from some of the trends going on there, and pick up on some of the share opportunities from that growing pie, but again, we continue to like the leaders because the valuations are right, there's less volatility, and just from the nature of their leadership positions within the marketplace. >> they keep getting bigger. thank you, guys. see you next time. >> great, thank you. when we return, facebook's damage control what mark zuckerberg's video yesterday says about the company's direction. and later, lyft on its way to ipo a closer look at its trip to going public next. stay with us

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simple. easy. awesome. stay connected while you move with the best wifi experience and two-hour appointment windows. click, call or visit a store today. welcome back to "squawk alley. facebook ceo mark zuckerberg is expected to meet with uk culture minister jeffrey wright in menlo park he referred to facebook as digital gangsters. this follows zuckerberg's hour and a half plus long interview with harvard law's jonathan zitrain yesterday. they touched on privacy surveillance and fake news is facebook's damage control in full effect? and does it matter for the stock? shares up more than 20% since the start of this year, though they are lower in trading today so far with us now, business insider

henry blodget, and yousef scully i am going to start with you, yousef from an investor standpoint, looking at the mark zuckerberg sit down discussion interview yesterday, the report out of the uk, is it too little too late for facebook in terms of how it is trying to spin the narrative at this point in time? >> i don't think so. i think we're in the early innings of him doing this. i think you're going to see the company doing more of this in the next 12 to 18 months for good reason. to me, the two key take aways from yesterday's interview with the professor were one, just how complex the issue is, the fact that it is not just a facebook issue, it is an industry issue, and lastly the fact that i ron cli there's a major role for regulators to play, and facebook is in a way asking for it. we have seen it through gdpr happening in europe and to us the big surprise is six months

into it. gdpr had no impact on user growth or user engagement, which goes to tell you that users don't mind necessarily what's going on but they're counting on regulators to keep everybody clean, and the advertisers continue to vote with their dollars, and based on facebook q4 results, revenues are up 30%, profits up significantly they continue to outperform expectations. >> henry, fake news was a topic of conversation in that sit down yesterday, disinformation on the web is reportedly on the agenda for the meeting with the british official today it is a facebook issue it's also an industry issue, look at pinterest, barring vaccination searches and looking at polluted content in the last couple of days, you run a media company. how do you regulate that and how do you do it without it becoming

a slippery slope and censorship issue? >> good question one that facebook has been trying for years to not have anything to do with. they wanted to be the phone company, we build the platform, you do what you want with it, you're all good people they build the most powerful media communications platform in the history of the world, and suddenly people are using it for their own ends, distributing propaganda and misinformation, and i think facebook's recent acknowledgment that they may want to start preventing some anti-vaccination propaganda being circulated is a good example of them getting dragged kicking and screaming into this. we have to regulate what's on the platform they don't want to do it mark zuckerberg is on his public humiliation tour right now, i agree it will take a long time, hard to figure out how to regulate but you as a media company understand how outrageous it would be if somebody used nbc or cnbc to distribute their own

propaganda it is ridiculous, unthinkable, huge media regulators. now facebook also needs to be regulated, the question is how. >> seems to me there are two facebooks and to some extent we're only talking about one on one hand, they're the best when it comes to privacy in the sense if i post something and only want certain people to see it, facebook is a great place for that there are controls to control it granularly wonderful. on the other hand, they're the worst when it comes to privacy in the sense of information, misinformation they let people target at mass populations talking about the second facebook now do you think mark zuckerberg can turn that conversation around to the first facebook this year >> i think if you talk about it happening in the next 12 months, i don't think so i think this is a very long term project that facebook and google and pinterest and amazon as they

become more of an online advertising platform need to address. what's interesting out of the interview is how facebook was talking about it being a privacy pioneer. i think to your point they really have been the problem is when there is no regulation or when regulation is loose in determining what should be done and shouldn't be done, it falls on you to kind of detect or establish these demarcation points facebook is a business it is there to make money for shareholders ultimately they keep testing the limits every time, every once in a while they step out of bounds, they get called, they go on the public humiliation tour that henry talked about, but again the regulators need to step in tv was regulated from the get go, radio was regulated from the get go, i don't see why the internet shunted ouldn't be as l

>> stocks are down from the earnings high. in between quarterly earnings, we deal with reports and innuendo and regulatory white papers and so forth, then they come out and wow us with metrics. is that what the year will be like >> unfortunately i think you're exactly right. we don't really see any catalyst intraquarter unfortunately, we wrote about this earlier this week, there's a chance to hear from the ftc coming down with a big fine. that would be in a way a negative catalyst, at the same time, it will show regulators are putting their foot down here in the u.s we'll see what happens overseas. but yeah, the stock had a huge run, that was based on muted expectations, it gave a little back, very much to be expected we think where it is now, honestly, it continues to be a screaming buy, but not necessarily for short term trading. i think in the next 12 to 18

months the stock is materially higher >> henry, what do you make of some of the proposals like data dividends which california's governor suggested >> i think that it is extremely easy to talk in academic fashion about what facebook should do and what should be done across the industry and all these different ideas, it is much harder to turn it into practical decisions a business can execute on i think in the interview yesterday with the harvard professor, lots of high faluting stuff. mark pointed out is what we discovered as society is people want to believe certain things, so how are they going to police it, when it says this is the conspiracy theory i believe, i want to share it with my friends in support of this all of this is incredibly complicated. facebook has the job of sorting it out, saying we have to make practical executable business

decisions and data dividend to me is one of the ideas that's out there. >> i'm sure we'll be talking about all these topics much more in days and months to come thank you for joining us today >> thank you for having us. coming up, a live look here post 9, at the devices samsung announced at the packed event. but first, a look at the worst performing stocks in today's session. ke, dow dupont don't go away. no more lugging your clubs through the airport or risk having your clubs lost or damaged by the airlines. sending your own clubs ahead with shipsticks.com makes it fast & easy to get to your golf destination. with just a few clicks or a phone call we'll pick up and deliver your clubs on-time, guaranteed, for as low as $39.99. shipsticks.com saves you time and money.

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heftier dividend payments helped consumer stocks in the past decades, with yields under pressure, which names are more attractive to own in 2019. dom chu back at hq with some answers. >> jon, people are yield hunting in consumer products names a long time.

we decided to look in the s&p 500 staple sector to see where you find hefty dividend yields and have stability in the stock price itself we did a little screen we looked at the s&p 500 consumer staples index 33 stocks. we said how many have positive year to date performance and positive one year price performance, and then rank them by dividend yield. only 13 stocks pass those two screens for performance. take a look at some of the names. yes, i have got kimberly-clark with a 3.5% yield, positive year to date and one year as well pepsico shares, 3.2% yield proctor g proctor gamble, hersheys and clorox well known consumer products names. and as you look at the 13 stocks that pass the screens, what's curious about them is all of them are very well known names

on the consumer side of things for that trade as we talk about where investors like to look for dividend values, it is in well established, well known brand names that carry dividend yields there. seems like investors are happier with some of these types of stocks when it comes to yield. back to you. >> absolutely. dom chu, thanks for breaking that down for us. european markets set to close in the next five minutes seema mody has a breakdown of today's action >> hey, morgan, with the exception of germany stocks in europe have been trading lower through the day after new data shows eurozone manufacturing pmi fell into contraction, a reading of 49.2, first downturn since mid 2013, reinforcing global growth concerns. the earnings story is not helping investor sentiment mollor-maersk hit by lower than

expected container volume growth another sign of negative impact of the u.s. china dispute, their shares down 10% today. follows decline in shares of bae, down 8% after the defense contractor is saying the german ban on arm exports threatens its business germany suspension on weapons sales was placed following the death of journalist jamal khashoggi. tariffs on european autos continues to bring heated debate, import tariffs could cost the german car maker billions of euros. notable weak nness, sweden financial authority saying allegations linking swedbank were erious, and it is taking closer look at danske. and ubs under pressure after a french court ordered it to pay a

$5 billion fine in a tax fraud case ubs down another 1.5% today. carl, sending it back to you. >>thank you very much. kelly evans has an update. >> hi, everybody here is what's happening "empire" actor jussie smollett turned himself in, facing accusations of filing a false police report when he said he was attacked in chicago by two men. the chicago superintendent commenting on the investigation. >> gain attention by sending a false letter that relied on racial, homophobic, political language the stunt was orchestrated by smollett because he was dissatisfied with his salary >> long time republican political operative roger stone heading back into court today. he faces a federal judge that wants to address recent antics while he awaits trial. monday he posted on instagram where the judge has a gun drawn

behind her head. researchers releasing a study eating more whole grains and fiber may lower the risk of developing liver cancer, after following 125,000 patients over 24 years that's the cnbc news update for this hour. let's get whole grains for lunch, send it back to "squawk alley," carl >> thanks. roger altman will sit down with us. major averages hold onto levels, dow down 105 s&p down 1anchge ba ia mentan

major averages are lower as trade talks continue in washington is a trade deal ahead of the march 1st deadline priced into the markets? roger altman is here with us >> thanks for having me. >> the memos are understanding how big a deal is that >> i don't really think it is a big deal as follows. there will be an agreement short term question is whether it is an immediate one or as the president referred to it yesterday, a little bit of delay, but there will be an agreement. that has to be baked in to a large degree, although i am sure any given moment whether it is immediate or later is an

important factor the reason i don't think it is a big deal is i don't think the agreement will turn out to have much effect simply because the chinese have such a long term point of view. i'm not referring to president trump, referring to americans generally is shorter term, and i think the chinese will ultimately not have fundamentally changed much of their behavior as relates to intellectual property. on enforcement, how do you know it is enforceable, answer is if it isn't, we reimpose tariffs, i don't think that's an effective idea and also whatever amounts china agrees to buy from america is inherently short term, however big it is. there will be an agreement i just don't think it will have a big, long term effect.

>> when citi writes as they did, china bought time, has no interest in ever changing, you don't think that's far off >> not really, i don't i think china is playing an exceptionally long game. if we were trying to wring out fundamental changes in chinese behavior, we would have to play a longer game too. talks would need to go on for a couple of years rather than a few months that's one level in the u.s. and not likely to be this administration's approach, again, not blaming them. therefore i agree with the message of the citi report. >> have markets overreacted to the up side in terms of anticipation around the deal if so, what does it mean >> i think markets, both fixed income and he cequity will trea

water. there's things that are bigger than that deal cancelling things out. one hand, a slowdown in the u.s., we're headed toward a 2% year in terms of real gdp growth, and sharper slow down globally, china at 3 to 4, down from 6 to 7 europe going backward fast and so forth that's obviously putting downward pressure on markets in the other direction, the fed pause, absence of inflation, that pause probably continues, and likelihood of easing are elsewhere around the world, china and so forth, which is also at the market positive for the market i see them cancelling each other out and markets in general tread water. obviously equity markets are at a high for four, five months you look at 14, fifteen months, we're where we were the

beginning of 2018. longer term, by that i mean say looking out a year, year and a half, i think there are big storm clouds, but that's a different question >> i want to ask about implications for big companies because you said you don't see china making big changes, u.s. by nature short term what about companies that tend to define themselves as global multinational companies, the microsofts, the apples that cast themselves as citizens of the world. what are implications for them how the u.s., china trade deal is likely to work out? >> well, apart from the precise negotiations, i think there's pressure on china to be less tough, for example, from a mandated joint venture point of view, mandated technology transfer point of view on the large cap multinationals,

especially the tech ones, than it has been, it has been such a backlash against it, including europe, which is significant so, for example, tesla is opening or has announced a production facility in china which will not be joint ventured, that's unusual given recent history i think you'll see more of that. i think for reasons that aren't particularly related or directly related to current trade talks, i think china is backing off on that after all, china slowed down too. china has a big demographic problem in terms of aging population and so forth, so china above all needs growth they need growth more than anyone on earth, given so many long term factors at work in china and the need the regime has to keep the populous happy for a lot of reasons, china backed off on that, and u.s. multinationals will continue to do the best they can in that market because it is the largest in the world. >> so what does all of this mean, looking around the world,

assessing these macro scenarios, what does all of it mean from an actual banking standpoint, financial sector standpoint? >> at the moment thinking about what evercore does, keep in mind, we are a peer advisory firm, don't lend money or buy securities for our own account, we just advise 100% of revenues are fees. the environment is very good it has been good for quite awhile now and by that i mean the global transacti transaction market of all kinds is healthy because the underpinnings, low interest rates, relatively high kwikt valuations, as long as they're in place, the environment is good right now it is strong it was strong in 2018 and 2017 of course we hope that continues but you just never know.

especially when it gets to equity valuations. that might change the fundamentals for the moment, they're good >> have to have you back to talk about the storm clouds. >> the 2020 election will be epic by historical standards, i think it will be chaotic i think eventually markets will find it hard to cope with. >> we'll have you back, roger. thanks >> no problem. coming up, shares of dominoes falling after a miss on top and bottom lines don't miss the ceo at 2:15 eastern on power lunch. back after a quick break it takes someone with experience and knowledge who can help me build a complete plan. brian, my certified financial planner™ professional, is committed to working in my best interest.

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i am scott walker. here is what we're working on for the top of the hour. the state of the economy after terrible data raises the question of recession. and of course we have the latest on the u.s./china trade talks in washington is a deal closer on that front we debate both stories and mike mayo made a move on one of the companies he covers we discuss that in the call of the day. morgan, see you in about 15. >> looking forward to it, scott. thank you. let's get to the cme and rick santelli for the santelli exchange hey, rick. >> hi, morgan. when it comes to technical

analysis, in tv it is going to be 20 years since i have been with cnbc, prior to that, 20 years as a trader. all those 20 years as a trader and on cnbc, i like charts and technical analysis to complement the fundamentals we cover like the data points, fed speak, balance sheets but technical analysis is fuzzy, it is more art than science. i would like to grab different things from different types of technical analysis i like trying to identify wave patterns from elliott wave, retracements from gann, but i like to make my own. each market has its own technical personality with respect to which works best, stocks are different than treasury complex, and one example i have often used is treasuries like double tops and double bottoms we're going to concentrate on waves. elliott wave is good to identify the major trend or impulse wave

or conservative wave which is counter trend. when you're going counter trend, you usually get a move that goes down in three waves. you might get something that looks like boom boom boom down, and when you go up, one, two, three, four, five. so identifying which wave you're in is a big plus to that end here is ten year note yields going back to january, 2012. i picked that for a good reason. that's the second leg, first leg of the double bottom at 135ish the second one was 16. they both happen to be in july, july 12 and july 16. look at the pattern going in.

we take a look at some of samsung's new devices. and find out what we think about that new foldable smartphone ayituscongp. st wh first tattoo? yeah. relax, amigo, it's gonna look ok. only ok? no worries boss, i'm one of the tattoo artists in the city. you mean one of the best tattoo artists in the city, right? something like that. yeah. uh, aren't you supposed to draw it first? stay in your lane, bro. just ok is not ok. especially when it comes to your network. at&t is america's best wireless network, according to america's biggest test. now with 5g evolution. the first step to 5g. more for your thing. that's our thing.

this is moving day with the best in-home wifi experience and millions of wifi hotspots to help you stay connected. and this is moving day with reliable service appointments in a two-hour window so you're up and running in no time. show me decorating shows. this is staying connected with xfinity to make moving... simple. easy. awesome. stay connected while you move with the best wifi experience and two-hour appointment windows. click, call or visit a store today. samsung unveiling a new family of smart phones,

including five new models. the galaxy fold among them they warn it could put apple in a difficult position you could make a twist joke there, but we won't. when it comes to future product pipeline we have two of the new phones onset on set here, the s10 and s10 plus the folding phone we don't have, but that's due out, let's see, by the end of the second quarter. also with us, today, not at the end of the first quarter, wall street personal tech journalist jonah stone. and ed begg. new features include the phone itself can be used as a charging pad. it's got three cameras on the back including wide angle. samsung always comes out with top of the line screens because they are the best and biggest screen manufacturer and the planet what do you think of this lineup

>> i think it's great. it's a step up for most people that he have an s8 or s9 this is the problem we're facing in the smartphone market we all have great phones right now. this is a little bit more great, not like the folding phone which is an incredible leap into the future there's still really cool features that you mentioned. i really like that inscreen fingerprint sensor i think that is -- people will find that convenient i think samsung is not as far as ahead on facial recognition as apple. having both in the phone is a good match. >> i didn't mention the inscreen fingerprint sensor, qualcomm technology, ultrasonic, reads the ridges in your finger rather than taking an optical look. ed, they came out with a folding phone at the same time as these others that will be available. are josh lipton texted me the price, $190. is that a birth date or the price? why do you think they did that >> it's getting a lot of

attention. the foldable phone would have gotten attention anyway. it's something different we all have these really good smartphones we carry around, they have great cameras. really good for several years now. and a lot of us have been writing about innovation and this space has hit a wall. whatever you think of a foldable phone, it is different so it would get attention for that when you also put on top of that this $2,000 price tag, and it can be go up from there if you go for 5g, the faster networks that are coming, you'll need to take out a mortgage for this thing. >> are these features sexy enough to make you want to switch ecosystems or mostly selling to the family that they will have? >> mostly people with android phones, we've seen real parity what the apple and samsung offer. in the android field, it's so competitive whether you're looking at what samsung or lg,

htc. it's comparable. samsung has shown they're a leap ahead in the android world. >> that's goldman's point on the fold at least. they think they have a two-year lead and worry for apple that they could be denied the flexible technology. >> apple, there were reports out. apple has just update add patents on its own foldable designs. they're probably working on it i don't think there's any doubt they're working on it. they may not need a foldable phone. i'm curious to see, price aside, is how people -- do people need this thing will they really want it people will want it to show it off on an airplane remember the days when laptops were first a big deal and you would see the guy in 12c, wow, look at that now it's the person showing off this foldable phone. >> we're looking at that foldable phone when you think about smartphone history, the first windows mobile phones that

had styluses and touch screens they had all the ingredients what we would see in the future of the smartphone but it wasn't ready. even you saw in the demo yesterday it, didn't look ready. he was pressing, things weren't launching. looks chunky the battery life, five minutes i don't know. >> isn't the foldable more than just innovating in a smartphone market but the potential it could -- the tablet potential and the fact that you maybe cannibalize sales from there too? >> that's certainly a factor everybody wants as big a screen as possible but don't want a big bulky thing in your pocket we ran a survey the other day that loo through surveymonkey that showed only about 19% of people who heard of a foldable phone were interested in buying one before samsung made their announcement what was more interesting was only 3% said they would spend $1,000 for a phone and now we will have something that costs twice as much.

>> got to point out though, people are making fun of large screen phones in general before samsung came out with them, and now we're all using what was considered back then huge screens. ed, joe anna, thanks we'll be back in three minutes ♪ (whistles) ♪ come on. come on, squirt. (dog barking) whatever your financial goals are, a u.s. bank wealth management advisor can help make them a reality. talk to one today. u.s. bank - the power of possible. we see eat emerson,mulating when issues become inspiration, creating a better world isn't just a result, it's a responsibility.

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pinterest says it's working to prevent the spread of anti-vaccine messages on its platform but is it working? julia boorstin is in wlaengs a look >> john, pinterest as a it started block health misinformation back in 2017 and last year it, took steps to block anti-vaccine and cancer cure pins. just this morning, we found that certainlies for the word vaccine yielded no results but when we searched vaccines harm and vaccines danger, a ton of results with misinformation about vaccines came up we reached out to pinterest which thanked us for flagging this and blocked these search terms which is a sign of their struggle with a whack a mole situation. pinterest saying "if a search returns largely polluted results that violate our policies we will stop serving the query

temporarily or permanently," goington on to say there will always be a ton of variations of terms and that's why blocking at the certainly levels is just one of the ways we enforce guidelines it is working to help assure brands their ads won't appear next to dangerous content as the company prepares to go public in the next year. pinterest is not alone youtube and facebook struggle with a constant battle with dangerous content on their platforms. >> thank you very much ride hailing company lyft expecting to go public listing shares on the nasdaq and seemingly beating uber to an ipo expecting between a $208 billion and 25 billion valuation in the ipo. time will tell whether this launches a whole new round of companies trying to race to the public markets. >> an unheralded icon bet. he bet on lift when uber seemed

to be running away with things since then with all the reputational issues lyft looks better. >> i think we'll set the stage for some of these other ipos like uber depending lou it performs. >> we're down only 58 points on the dow. let's get over to the judge and the half. >> thanks. i'm scott wapner two big stories front and center on halftime. are risks of recession on the rise a new piece of economic data suggests more weakness could be ahead. u.s./china trade talks heating up in washington two sides said to be making progress there are major market implications on both fronts. here to debate all of that, jim lebenthal, pete najarian, brenda van gel lis. we begin with the latest on the trade discussions at eisenhower executive office building across from the white house cale lal to you she will following that story for us at this ver