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tv   Power Lunch  CNBC  March 4, 2019 2:00pm-3:01pm EST

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to why founder led companies with some of these protections are built in to be a good thing. >> that's why you can't necessarily paint it as black and white but say it's closer to one end of the spectrum than the other. we'll watch it that does it for "the exchange." i'll join tyler and melissa for "power lunch"? just a moment. >> i'm melissa lee stocks deep in the red trade talks near the finish line what is worrying wall street we'll break that down. the ten year anniversary of this historic bull market how much longer will the record run keep going and the next hot pharma stocks to buy right now, a number of them are actually rallying in the red tape today we've got the list "power lunch" starts right now >> indeed it does begin right now, melissa, thanks very much welcome, everybody, to "power
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lunch. i'm tyler mathisen an early rally quickly fading this day stocks now in a deep sell-off as you see with the dow down 275 and biggest one day drop at five weeks. down more than 400 points was the dow at its low wall street, so-called fear index has hit the highest level in about two weeks transports now trading in correction territory, small caps are close to correction territory. kelly? >> the swoon started around noon and bob pisani tracking the action from the new york stock exchange bob? >> reporter: this is the kind of action that indicates market exhaustion at least for the moment here. a big rally partly on trade talk hopes and more likely and the stocks are pausing on this news here trade-related groups lyiike technology are weaker and names not associated with trade like retail selling off today with health care which is also not generally trade-related.
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as are are airliirlines, the seh straight day the transportation index is down. so the big issue is how much farther can you push the markets just this fed being patient and the china trade deal global growth still weak, strong dollars also an issue and remember something, the sectors with the biggest downward earnings are energy, materials and technology energy is down due to the decline in oil prices. that's been reversing recently but materials and technology all related to the trade issue the key right now to stop the downward earnings revision trends that's what would get the market going up again and for that, kelly, we're just going to need more stable global markets back to you. >> stable, bob, but by the way, the performance of the international markets year-to-date has been straight up >> they are anticipating, particularly in emerging markets that it's going to stabilize but this is the thing, i see it as a fairly high risk not just a trade deal but not necessarily going to turn around
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china's economy. they've got to do much better overall but the markets anticipating that's going to happen i see the risk here to the downside if they don't figure out some way to get the economy there a little bit more stable >> robert, thank you very much bob pisani at the nyse comes off amid optimism the trade deadline is near to the finish line. kayla tausche for the details. the stories seem to be bubbling all weekend, kayla >> same story, different day, tyler. weaver now ju we're a few days away from the potential detente. outstanding issues ahead of this late march summit that's being planned between the two countries leaders at mar-a-lago. the deal as it looks now would see china by more than a million dollars over six years and china approve a new law related to intellectual property for foreign companies operating there and broad agreement in
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several macro economic buckets and an agreement to keep talking. it's that continued dialogue with china that would be the enforcement mechanism for the deal and if issues arise on trade but can't be resolved in that forum, the u.s. wants the ability to reintroduce tariffs with no retaliation from china and you could imagine china is not happy with that. steve, more of the conservative economist outside sounding board for the white house and one time adviser to candidate trump tells me, quote, getting this deal done now with some of the most important concessions from china in 20 years will be positive for the u.s. economy but this is going to be the start of trade negotiations for a decade. also says the failure to reach a deal with north korea raises the stakes and president trump doesn't want to go 0-2 >> he doesn't. kay kayla, thank you very much a trade deal could be close marking ten years of this historic bull market run the dow up about 290% in this
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time the s&p up 300%. soaring 480% can those barometers keep moving higher will a trade deal make investors hit the sell button? joining us now, randy warren, chief investor with sheana with cls investments. welcome to both of you we've been musing over the last three weeks as the trade talks heated up, and seemingly, a deal came closer that maybe the moment would come where all of this anticipation that seems to be built in would come to fruition and hit the sell button is that what's happening today >> it's a possibility but the ten year bull market you introduced us with, investors really aren't that excited about this ten year bull market. you've got to remember where we came from. we were in the depths of despair ten years ago. and the markets come out of that and it took five years or so before the s&p started making new money.
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and then even this year, you know, how can anybody be all that excited about a 12 or 14% increase here at the beginning of the year when the market dumped ten or 12 percent at the end of last year >> investors looking for new money, not just for, oh, i want to make back what i already lost so it's forced us to get pretty innovative with some new ideas >> shanna, what's your reaction to what randy warren just said >> i do agree. i don't think there has been a lot of buying particularly on the retail side since we bottomed in 2009 but i also think we're ten years into this expansion and getting a little long in the tooth so there's reason to be caution right now >> so where would you put your money, shanna? >> so we're focusing on one of our key investment themes for 2019, what we say is besmart and that takes the form by using
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smart beta factor based etf and overweight quality right now, overweight value and overweight emerging markets where we think there's a lot of opportunity to take advantage of a deep discount right now. >> what does smart beta for people for people who don't understand snit. >> different than traditional indexing market capped and smart beta focuses more on using specific factors and fundamentals to weigh their indices. >> randy, give us your insights on where i should put fresh money today as the market stumbles a little bit. >> we look at alternatives and they're getting excited about the stream of income but you have to do the stock market thing and look from a fundamental bottoms up point of view and when we do that, we're looking at, you know, q4
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earnings and profit margins for companies like home depot and lowe's, nike and underarmor. how are these companies doing and selling overassess and how are their profit margins which frankly weren't very good in the fourth quarter i think some of that has to do with tariffs and the trade talks, everything that's going on if we do get a resolution, the market really could blast off beyond this 2800 point on the s&p 500. >> randy, in terms of safety at this point, it sounds like, you know, clients, you've got to do the stock market thing sector-wise, can you say tilghman kronsberg is it or, you know, utilities? >> technology still looks really strong technology had a run, but it's really looking great there's so many great companies, microsoft, amazon. so many great companies in big tech the nice thing to see this year is that the small companies, the
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russell 2000 has really started to come along, which is a real bonus. in recent years, it really hasn't helped in the s&p 500 >> coming back to something we started with there and that is the idea that on the one hand, as randy just mentioned, if there is a trade deal and it seems to be a substantial one that addresses not just the idea that the chinese are going to buy some more soybeans or liquid natural gas, but something more than that. would that be a reason for the market to blast up or for people to sell it, thinking that, well, i'm going to sell the news >> i actually don't think it will do either i think the market wants to just have clarity and have some finality to this continued uncertainty with the trade deal. s so i think it will have investors stay more comfortable staying in the market but not entirely positive or confident that they will all of the sudden just put all their money into
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it >> shanna, nice to see you today and andy warren. >> thank you for having me >> we are all over today's big sell-off the s&p 500 having the worst day in a month all 11 sectors still lower the worst is health care down 1.5% today that could make it a good place to find some value and up next, buys in big pharma are coppiming stay with us want more from your entertainment experience?
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simple. easy. awesome. check out shares of nightstar therapeutics night star is working on gene therapy to slow or prevent blindness and if you're watching "power lunch" last week, we asked michael yee of jeffries what he thought could be takeover targets listen to this. >> some of the smaller ones, if they get included, nightstar >> you might have missed on that call but don't worry, other great picks for you all. out with its list of the next top pharma stocks with gene therapy. top picks, andrew, the one behind the big call back in 2017 great to have you with us. >> glad to be here. >> why is gene therapy so hot
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when the therapies could cost a lot of money it's unclear whether or not they'll be reimbursed. trust me, risks involved >> risks but a huge opportunity. these therapies promise potential major breakthroughs in treatment for rare and serious diseases right now, some are deadly right now and no current treatment. there's really a strong unmet need for treatment of many diseases right now >> straight to the picks unicure. >> cure for hemophilia, that could potentially be a billion dollar drug for them and one of the more lightly right now. >> is the therapy farther along? >> it's a really good commercial opportunity and they have strong manufacturing capabilities, very
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important in this area right now. >> how much would a typical dose or regimen cost over a year? >> anywhere from half a million dollars to a million dollars, but it's a one time treatment. it's designed to be one and done one infusion and hopefully, you have a long-term cure for a disease. right now, hemophilia treatments can cost half a million dollars a year and that has to be dosed indefinitely this could be more than that but potentially be a cure for it >> commercialization, when we talk about this, some are orphan drugs and very small total >> very small patient populations and hemophilia maybe in the thousands but for some, literally dozens of people these are often rare diseases and small number of people. >> i want to come back to something you just said, important, i think, when we see those headline numbers of $850,000 per parnt, there are cases like the one you just mentioned where actually, the current treatment regiment cost
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850,000. this is a cure like hepatitis. >> the hope is it will be a cure we don't know about the durability but there has been encouraging clinical data about long-term effects. one treatment from novartis for a rare diseasecalled spinal muscular atrophy, $4 million or more if approved by the fda. a key decision in may about whether or not they'll approve this drug from novartis. >> talking about how some of these have very small addressable markets. that's true for this one one is a relatively rare muscle disease and another disease, basically has really a handful of patients born every year. with the disease in the united states maybe five or ten. so this really, very much personalized medicine.
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you may have rare and serious diseases. >> fewer than 100 babies born in the u.s. with this rare condition here regenex and bio. up 20% over the past month is it so widely viewed that these are candidates with a built-in premium >> yes, not as cheap as they once were. etf gene therapy they make the vector which are the delivery mechanism to get the healthy genes that need them basically part of 20 or 30 other companies able to get royalties on commercial success of some of the drugs with nonovartis. it's about a $2 billion market value, not small but not huge right now.
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given what big pharma companies are paying right now for companies. >> sarepta. >> muscular dystrophy. there's really no effective therapy except for the ones they've already developed which have some effectiveness. this could be a game changer for muscular dystrophy thousands of patients in the united states who really are facing a death sentence right now from this disease and if this therapy works as well as it appears to in clinical trials, it could be a major medical advance. one of the biggest medical advances in years. >> that's where, for this one in particular, the cost of these treatments has been a focus. >> understanding it could be a couple million dollars and nothing to stem the progression of the disease, only leads to death by the early 20s for the boys affected by it and would be a game changer and important medical advance. >> thank you for joining us. >> glad to be here up next, more on today's
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sell-off boeing, unitedhealth and mcdonald's accounting for one-half but one stock bucking today's downtrend. amazon ouarnd the corner for amazon the "trading nation" will examine that next. your daily dashboard from fidelity. a visual snapshot of your investments. key portfolio events. all in one place. because when it's decision time... you need decision tech. only from fidelity.
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welcome back to "power lunch. i'm michael santoli at the new york stock exchange. it's time for "trading nation. shares of amazon rallying in a down market today. upped the price on the stock calling amazon cheap right here. amazon on the road back to $2,000 gina sanchez from global we had the valuation and huge run into the third quarter of last year. does amazon now seem poised to retake those levels? >> we think so yeah, we're bullish on amazon. i think looking at the underperformance of the stock has suffered since that point, over about the last five months it's underperformed, we see the weakness start to abate. i think the road to recovery is higher here's what you got to know about in the charts. after reversing the down trend in january, the more recent data
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point is amazon's move through it's the 100 day moving average. we see the base come around. it's still in a base but as long as you're above 1600 support, those were the recent lows, i think it's more likely that this breaks to the upside, above 1770 resistance and we see a resumption of the stocks long-term uptrend. >> all right that's about $100 worth to play there. gina, valuation has never really mattered terribly much for amazon, at least as conventionally defined how would you view the company right now? >> i think some of the softness you saw on amazon had to do with the softness in the cloud market in general but i do actually think that's really what's going to continue to push amazon up. the aws side of their business but the rest of the business is continuing to quite frankly pose a huge challenge to bricks and mortar buying and i think that continues as well. we actually do see some support
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for amazon here. >> all right well see if we can get there i think it was 2,050 was the all time high for amazon last year >> what's that >> more upside with the risk that you mentioned, yeah >> all right, there you go thank you very much. for more "trading nation," head to our web site tradingnation.cnbc.com or follow us on twitter. ahead on "power lunch," excuse me, melissa, i'll let you do that. >> thanks, mike. michael santoli, ahead on "power lunch," all over the markets today. bouncing back off the session lows shares of tesla under pressure what's dragging shares lower to the tune of 3.6% and making money. john hancock with a socially conscious today when "power lunch" returns >> and now, the latest from tradingnation.cnbc.com and a word from our sponsor.
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. hello, everybody i'm sue herera here's your cnbc news update at this hour. first lady melania trump visiting tulsa's dove school of discovery described at a school where the curriculum includes character development. she visited three separate classrooms the next stop on her be best tour is a tech company in seattle to learn about tools to keep children safe online. southwest plans to begin long delayed service to hawaii on march 17 with a flight from oakland. it plans to serve four airports from oakland, san jose, san diego and also offer interisland flights beginning in april. mexico's volcano unleashes a powerful explosion over the sky.
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a spectacular flash of light with material spilling out from the crater and moving right on down that mountainside. fresh snow led to a massive avalanche on a colorado highway that happened sunday afternoon on interstate 70 and according to the person who took most of that video, the snow did not make it to the road. no one was injured a second avalanche closed down the highway for several hours. they've had so much snow in that part of the country. you are up to date that's the news for this hour. back to you. 90 minutes until the closing bell rings a check on the market sell-off downgraded now, not quite a sell-off off the session lows down 220 points. we have been down by 400 more than earlier in the session. the nasdaq down by 0.4% and then 0.6% health care is the leading loser down half a percent. walgreens could be violating
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rules against selling e-cigarettes to minors requesting a meeting with walgreens corporate management shares down a couple percent children's place with disappointing fourth quarter earnings the company hurt by deep discounts at rival gymboree. i got it on the cheap, makes sense. finally, asendispharma, the phase three final for drug to treat hormone growth efficiency. market going up for the day. leslie >> hey, kelly. nice rally for crude today up 1.25% 0.8 of 1%. and natural gas, down 1.4% today but the oil moves, of course, moving in opposition to where equities are they're moving higher. crude is moving higher on optimism china and u.s. are closer to reaching a deal and a higher
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chance to the demand for energy worldwide could falter that's on trader's minds crude surged 25% this year as producers cut output back to you. >> thank you very much a new nbc "wall street journal" poll shows how americans feel about socialism john harwood with those results for us john >> tyler, socialism has become one of the early buzz words of the 2020 campaign. republicans saying the democrats are headed in that direction most democrats are saying no, we're not and the nbc "wall street journal" poll shows why that's the case. how do you feel about capitalism you see by 3 to 1 margins, they have a positive view and they have the opposite view of socialism, just about 3 to 1 negative for that. on the other hand, you could see why democrats are are not rnot away from expanding tuition costs and add to infrastructure because the majority of
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americans, 55%, say that they want government to do more to help solve their problems. that's consistently been true throughout the trump presidency. if you leave the socialism label off and say, do you want more government programs? americans say yes. here's one of the reasons why. when you look at 2019, is this going to be a year of expansion and opportunity or a year to pull back and prepare for harder times, 59% of americans say the latter they're not predicting a recession necessarily but they are expecting a slowdown and that's what the economic data are telling us they're likely to get, guys. >> stick around. americans might be getting a little bit more cautious but 53% say the u.s. won't see a recession in the next 12 months. a policy analyst with the american enterprise institute. thank you for joining us and jimmy, there's a lot to chew on here but i kind of want to go back to the question about more government help versus less. i was struck by the proportion
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of people sort of men without a college grow who don't want government help. this is the segment of the population whose mortality rate getting worse and people would think the help be for and saying they're not as interested. >> yeah, well, there's obviously a deep skepticism and i've seen other polls looking at that exact same group and one thing people really want, i guess throughout all groups, particularly that group, good jobs >> yes. >> when you hear these democratic proposals about, you know, these federal job guarantees, they want a job or even a few people talk about universal basic income, about redistribution, that may be all well and good, but people still want a job that's how you order your life so i guess, democrats might want to focus a lot more on how they're going to create good jobs, not just on how they're going to redistribute income and the one thing that popped out at me, people want, may want more
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active government. they certainly don't want to foy it because of higher taxes that's about 50/50. >> going back to the question of who wants the government to do more, a lot of it was college educated white wilomen do they want the help for them or because they think other groups need it >> i think just exactly the point that you just made explains both, some of their views and the views of those non-college white men that you talked about yes, i think a lot of women have consistently for a long time been more pro government than men have been and i think in many cases, it is affluent women who want more government sf services for people who need help but the non-college white men, their concern largely and this has been true historically has been the belief that government programs are to help other people and not them. in particular, there's a high level of racial consciousness
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among people in that group and many associated in the past, welfare programs, for example, with members of minority groups that benefit other people. that's some of the reluctance. >> the journal had a great look at how america works, they call it it was several pages long and pointed out for men without a college degree, the unemployment rate last year 5% and their wages were up 6% i mean, you almost couldn't find a socialist program that would hand them prosperity like that is it possible they know their own best path to success comes through the pro jobs message from the trump administration? >> that's possible and that could be part of it, but i'm not sure that explains all of it also, i think the charts in those journal article were not adjusted for inflation so some of that is top line wage growth, nominal wage growth rather than net wage growth. we know that many and if you look at the trump base, many of
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those white not college voters, they're very skeptical about wall street, very skeptical about business, very pro social security and medicare. those are programs they know benefit them because they're universal. >> strong at the bottom, by the way. >> i didn't catch that go ahead >> real wage growth, adjusted for inflation has been strong at the bottom not just low unemployment rate makes a good point that we've seen a lot of very strong growth that's been, people that sort of ignored this and talk about the waste stagnation across the income spectrum but particularly at the bottom >> if there was any lesson out of 2016 and recent campaigns, it's that for me, if you let your opponent, whether it's the opposing party or the candidate brand you, you're in deep trouble. and that's what happened, i think, with hillary clinton and if the republicans succeed in branding the democrats as socialists and they don't have a
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compelling rejoiner to that, they're in trouble. >> what do democrats need to do to come up with a brand they themselves invent for themselves jimmy, you first >> well, first, they're going out of their way to say, other than bernie sanders, we're not socialists elizabeth warren has said she's a capitalist down to her bones kamala harris said i'm not a democrat socialist so they are rejecting that label. i guess if i was going to advise them, they may think there needs to be more redistribution in this economy and more government program but at some point, you have to say, how will you create lots of good jobs into the future when we may have a lot of automation and a lot more automation technology, what will those jobs look like and what can you do to create policies to prepare people for jobs in that kind of future >> by the way, four of the six, john, fastest scoring jobs require no more than a high
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school diploma according to the labor department. >> tyler, on your question, it is a vulnerability for democrats. and they need to try to avoid that label and that's why most of them, except for bernie sanders, has and i think the way they do it, by saying i'm a capitalist but want to expand opportunity and want fairer rules for capitalism that's some of the things elizabeth warren said. and we'll just have to see how effective they can be in that back and forth this is not the first campaign in which republicans have used the socialist label. mitt romney used it against barack obama in 2012 so did john mccain in 2008 sometimes, it's more effective than others and times when people feel like they're under some financial pressure, and if, in fact, we dip into very slow growth or even recession in 2020, people are going to be more likely to lean toward the party that offers them more. the better off they feel, the less they're going to feel that
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way. >> i suspect used it against franklin >> no question about it. ronald reagan used it against medicare socialized medicine. >> the difference between now and then is that one of the leading democratic influentials, aoc, is a socialist. so i think that matters. >> thanks. >> john, james shares of tesla falling today, as always, a lot of talk about the company. we will hit all the auto news next but first, take a look at the dow making it back after the noon swoon "power lunch" returns in a heartbeat. [leaf blower]
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tesla set. nothing but the bulls and bears in this story. >> we heard about it from elon musk basically tweeting out, look, next week on thursday the 14th, that's when the company will unveil the model y in terms of initial ideas for pricing, tweeted out, look, it's going to be 10% larger than the model 3 so the price is going to be about 10% more and you're going to get less range for the same type of battery. this is enough for the bulls to say, this is fantastic the bears look at the total production from tesla and how it's grown over the last couple of years and then the question becomes, what are we going to see for the raremainder of this year the model y, not going to see that for at least 18, 24 months. so it's not something that's going to move the needle immediately, but tesla wants to keep telling people, we have new models coming and later this year, a sneak peek of the electric pickup truck potentially. >> one good thing for the bulls at least, up three quarters of the parts of the model y overlap with the model 3
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that could be potentially. phil, second topic with yet another fatal tesla crash. what's the latest here >> you've got nhtsa along with the ntsb looking into an accident down in florida, i think about a week and a half ago. and it's similar in terms of what happened to other accidents we've seen with tesla vehicles where it was a high speed accident this is a case, the one you're looking at the video of here similar to one we saw a couple of years ago where the vehicle, if it was on autopilot, did no see the truck across the intersection we don't know if it was on auto pilot. this is what nhtsa is looking into and we should point out i hear it, there was another accident involving a tesla vehicle and it was on auto pilot. the ntsb looked into the crash and found out there was no defect with the auto pilot in that tesla vehicle there's some questions about
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whether or not people are misusing the technology, but that's a separate debate from whether or not the technology is not working. >> people remember the investigations but not necessarily the outcomes >> right. >> volvo limiting the top speed of cars. why is it doing that >> they want to begin a conversation about the fact that speed kills and that's, there's no debate there. anybody who looks at safety of vehicles knows as they become faster and more capable of rapid acceleration, you've seen an increase in fatalities around the world. if you can bring down the top sp speed, bring it down to 112, at least begin the conversation the cynics look at this and say, come on. who drives a car over 100 miles an hour let alone up to 112? who's this really going to impact and they are correct, it's not going to save, potentially, it's not likely to save many lives but it is the beginning of volvo saying, should we be limiting the speed of vehicles, not only
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a top speed but around schools, around hospitals, et cetera. >> all right phil, thank you. philip lebeau in chicago for us. coming up, conscious investing. what is it and could it be a way to get a generation of skeptics into the stock market? that's next on "power lunch. (baby crying) ♪ ♪hold on, i'm comin' ♪hold on, i'm comin' ♪hold on don't you worry,♪ ♪i'm comin' ♪here we come, hold on♪ ♪we're about to save you i'm comin', yeah♪ ♪hold on don't you worry,♪ ♪i'm comin' what do you look for i want free access to research. yep, td ameritrade's got that. free access to every platform. yeah, that too. i don't want any trade minimums. yeah, i totally agree, they don't have any of those.
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one of the markets are still lower across the board as you see there. dow down 243 but off the lows. dow nearly cutting losses in half at one point down more than 400. interesting stat for you according to a recent gallup poll, 52% of americans have any money invested in stocks and that is a six year low despite this ongoing bull market millennials, that number is even lower. their participation in the stock market is just 38%, but one company trying to win them over. that would be john hancock and backing a start-up called coin, a conscious investment platform. you say conscious and investing, come up with coin. first time investors, launches today. first on cnbc is the ceo and
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co-founder this lets you have impact in areas where you might be interested a lot of impact investing has been built up to now around funds that are tailored to your interests. in this case, you are actually k portfolios for individual investors? >> exactly we are acting as an adviser for you, putting together a custom portfolio for you. we want to build according to your value set so you select three of eight impact areas and then we build a custom portfolio composed of individual companies. >> of how many stocks would a typical portfolio be composed of >> when we put together these impact areas, we look at companies and put together the top 25 names according to each impact area and then we putt together your portfolio, composed of the three top. >> why don't you go through some of the impact areas which we show on the wall over there?
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including gender equality, climate action, better health, clean water. what are the others? i can't remember reducing waste quality work modern cities. share prosperity. >> when we look at the impact areas we want them to be aligned as closely as the u.n. sustainable development goals and we look at that for inspiration and the basis for the eight that we are starting with today. >> when you backed this, how's the performance compared to s&p 500 of the baskets, any combination? >> when we look at the companies, it is the top 500 companies and trying to track as closely as we can. >> has it tracked? have you back tested the baskets to see what the performance has been over time >> yep we have a team that actually looks closely at the financials, as well as the values of each of the stocks. >> very low minimum. $50? am i right >> $50. >> okay.
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and .75 annual fee but at $50, how do i build a portfolio? i mean, i can't buy one share of apple for $50. >> we do fractional share trading. the technology that went into building coin is what's taking us the time to make sure you can for $50 get invested in a number of companies. >> how do i know that this works? that was my question have you taken a look at the performance of these indices over the past five or ten years? whatever time frame and seen that they have actually performed? that you're not losing money consciously investing. >> that's a big question we get, will there be a trade-off. we believe companies that think about values, about the material impact they will have actually will do better in the long term. >> how do you monitor this this is a question that companies are fluid institutions changing all the time so if the
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basket said i want one good on gender equality and right now that's marriott, tjx and cisco, what happens next year if they fall off and that you are being dill jetblue enough so i don't have to worry it doesn't include my values of clean water and quality work, for example? >> in the past people had access to an adviser looking at the stock selection and the access to that is limited for people. what we're looking to do is bring it to everyone, that everyone has access to the level of customization making selections and that the rigor -- >> is this just for making the selections i get you say we went through and scleened treened the names y pick them. do you update this annually? how do you go back tow the metrics so i'm not in a company with a big area of disagreement? >> well, we look quarterly at the companies to make sure
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they're aligned and then regularly track any controversial issues. >> so in these different baskets, how many stocks would be in the gender equity portfolio? do all people that check that box get the same portfolio >> we looked across the 500 top companies, large cap companies in the u.s., we looked through each of them on each impact area and the top 25 names for each goes into the port foal you. >> i will have a portfolio with 25 names under gender equity or fractional shares and to come back to what melissa was asking, your answer was careful, you don't know whether the gender equity portfolio exceeds the return of the s&p 500. you haven't back tested -- >> we are tracking that now. >> what have you found >> what we find is that when companies look long term they're ultimately going to have - >> do you have numbers, percentage, performance numbers or anything like that?
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>> that's part of why you hire a financial adviser to look at these sorts of details. >> these different baskets, when you say we select them for you, is this done by a human or is this done by a robo investor >> we have a team to make the selections and put the research methodology together on what makes the selection. when we make a selection we look at three key areas what is the revenue of the kush current business, the corporate conduct and then what are the future goals and something we are excited is different with how we - >> the name is coin. where do i find this if i'm moved by what you have described here today and i do want to have impact in my portfolio, where do i go >> so it's online. we have a website. invest with coin.com and you can open an account today. >> go there and check the box for reducing waste if that's - >> three top areas and hopefully
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start to invest. >> megan, thank you. >> thank you for having me. markets are well off the lows of the session. we have a big interview coming up salesforce marc benioff speaking to cramer tonight. we'll have much more on these markets. duncan just protected his family
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we are well off the lows let's bring in art cashin from ubs financial services
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2800 seems to be a strong resistance what did you make of today's movements so far >> well, it was a three-part move the market was trying to rally it ran into the resistance at 2815 about real resistance. as it was stalling there, out came construction spending not a real hot number. kind of stale, as a matter of fact but it was down more than expected and raised some more questions about the economy. that allowed the buyers to pull back that added to the perception of running into resistance. as they pull back, then the technicals took over and people said, oh, a failed rally and back came the new concerns about the china deal the feeling down here is that trump really needs a north carolina -- north korea deal and that he could give the kitchen sink to president xi to get the help on north korea. the other real problem with that
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is that the current plan is for xi to come to the united states which means there will be no last-minute chance of blowing up the agreement. if they come over here they have to go through with it. >> art >> that concern pullback. >> thanks for your analysis. good to see you. thanks for watching. >> "closing bell" right now! ♪ welcome to "closing bell"! i'm sara eisen. >> i'm wilfred frost welcome back. >> thank you. >> hope you had a -- i know you had a lovely vacation. >> good weather in miami >> big market day. great to have you back for crude oil trading higher here on wall street goldman's head of commodity trading jeff currie will be joining us.
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