week i'll go join in on "power lunch. >> welcome to "power lunch." new at 2:00, a big miss for the jobs report. what does it tell us about the health of the economy? a big jump for housing starts, however. could the spring selling season help fend off whatever economic slump, if there is such a slump, is in the cards. a ceo goes off the rails, blames an earnings miss on, quote, injustice. markets are lower after the jobs report miss. heading for the worst week of the year right now, off the worst levels of the session. "power lunch" starts right now we begin this hour with jobs and your money our reporters have it all covered for you. eamon at the white house, steve leisman takes us inside the numbers. bob passan any tracking the stock market reaction.

ri santelli on bonds let's start with eamon and the president's reaction. >> the president left the white house this morning to go to alabama to view the horrific tornado damage on his way out the door, i asked the president if 20,000 jobs was good enough for him. here is how he answered the question >> well, it's a step i think you'll probably find out it averages out -- the unemployment went lower, down to 3.8% so we had very good news in that i think the big news really was that wages went up that's great for the american worker that's something people -- i don't know if they ever expected to see it. >> for his part, national economic council director larry kudlow, relatively dismissive of this jobs report this morning. here is what he said today on cnbc i guess we don't have the sound bite there larry kudlow ultimately suggesting this is one data point among others the president, it's interesting

to note, was asked about this right out of the gate this morning, despite all the other news here in washington. the president wanted to talk about the economy, among the first things he said at that gaggle just before he got on marine one, the president is suggesting here that the economy is still very strong, even though the jobs number might not have been what he liked. he called it just a step >> flukey was the term larry used let's sink deeper on the report. steve, is it flukey or telling us something >> i'm inclined to flukey, if you think the economy is weakening fast, this jobs number fits perfectly with your outlook. the slowing, but not collapsing economic gloegt and remained puzzled, bordered on dismissive. 20,000, we were looking for 180. december, january to the positive side. everything else below the top line number is positive.

average hourly wages labor force participation holding on to -- if the number was to fall back on the three-month average, which fell sharply to 245,000 economists point to relatively low jobless claims, unfilled jobs along with good wage gauge to support the argument this number is an outlier then they add, check back with me in march. if it remains weak, they'll change their view. kelly, i did research on this. this was a very big miss how bigamist -- >> how bigamist was it, steve? >> thank you, tyler. data goes back to 2003 it's the biggest monthly miss of a jobs report by wall street since november 2008. the trouble with that stat, if i just stop there, if that was in the middle -- >> all those stats make you go, wait -- >> it was 238,000 was the miss

back then, this was 160,000. >> how big would the 311, whatever the final number is, how big a beat is that that number is out of control. >> a huge beat we're already up there 42% of the time, the number beats to the positive in the next month after 100,000 miss or mo. >> want to ask you about fed chair jay powell going on "60 minutes" this weekend. >> he wants to talk to the public he thinks that's very important. he thinks trance pash see is very important made a lot of moves, transparency, press conference every meeting. they peeled back the secrecy on bank supervision i think those are very important. question, can a guy talk to the public and to the markets at the same time? he's had a little trouble with that he's tried to talk plainly, and

markets here pla markets hear plainly and then, whoa i think he's made some progress in getting it right. >> steve, thank you very much. we'll be watching on sunday night. let's take a look at how the markets are reacting to today's data on jobs bob passan any, it's been a down day. i guess we're off the lows. >> we are. whether this jobs report was a fluke as larry says it is or part of a more serious problem, there's a powerful slower global growth story beginning to take part of the market and narrative. it's only two weeks, but really getting into the minds of a lot of traders the markets rallied in january and february on the grounds that the federal reserve wouldn't race rates in 2019 and a trade deal was coming. a different narrative is taking hold a strong dollar, reached a 21-month high today. the real issue is the slower global gloegt story. overnight chinese import and export data for february was well below expectations.

draghi lowered gloepgt expectations from 1.7 to 1.1%. what about the trade deal? even if we get a trade deal, china made it clear they have a host of other problems which is one reason their ear furiously stimulating their economy. the ecb has announced they're bringing back cheap loans for banks. this is a sign they're, too, concerned. 40% of corporate earnings are overseas and the two biggest economies in the world, china and europe are clearly slowing tyler, i would note that even with the delines in the last two weeks, fairly modest russell semiconductors, transports, all down 4%, 5%. we had an 18% move off the december 24th bottom >> bob, thanks. big initial reaction to the jobs report and the bond market. let's ask rick santelli about it. >> kelly, let's take a one-week

perspective. one week of twos, you can see a lot of damage done, down ten basis points ten-year yields hovering, not moving much, down 13 on the week if we look at what's going on in boons, they settled around five, six basis points they had lows this week of four basis points really quite unbelievable when you factor it in bob was talking about mario draghi downgrading growth, he'll have to go farther to catch up with the traders on this floor, and that is the problem. finally the dollar index you see the one-week chart down a little bit. guess what up about 7/8 of a cent on the week, hovering in the best level since mid 2017 tyler, back to you. >> mr. santelli, thank you very much stocks finishing up the worst week of the year, but a great year so far. three major averages have been down every day this week the last time that happened was november of 2016

what happened in november of 2016 >> can't remember. >> both the market and economy about to hit a serious snag. let's bring in emily roland and ron en sana'a, senior adviser to schroeder's, a global asset management firm. emily, let me begin with you, can stocks after a nice run in the first eight weeks of the year, it feels to me like they're winded, number one can they continue to make headway if earnings growth comes down and turns negative year over year remembering that last year first quarter, second quarter, those earnings comps are pretty good? >> we're not seeing a lot of cat lists right now. the slowing global economic backdrop is one reason for that. the other, as you mentioned, is earnings estimates continue to come down. q 1 loobs negative, q2, q 3 are flat, all backloaded into the

fourth quarter to us that assumes a reacceleration in terms of economic growth. i don't see the catalyst for that. >> i want you to explain something for me because i'm a little slow here when you say negative earnings growth, you don't mean companies as a group are going to report losses you mean merely that the rate of growth is going to be slower than it was a year ago >> yes as you mentioned, those q 12018 comps are hard to beat we had tail winds at our back last year. markets are forward looking. they're starting to price in an earnings environment that isn't as supportive as it was last year. >> what are the odds, ron that, the best of 2019 is behind us? >> i'm beginning to think that way givenyou had a whole year' worth of gains in eight weeks. if you book them now and walked away and put it in some sort of safe haven, you'd be up more than what the market was for 2019 having said that, though, you do needy think some sort of

catalyst that goes beyond what we've seen thus far, whether it's a very positive resolution to the trade war between the united states and china. and we see trade as having a huge impact on chinese, european growth, both or central banks in addition to the ecb start tilting towards an easier, not just a flat or pause policy, then you get the catalyst even only for a tactical trade. >> what would happen if there was a financial transactional tax, a dollar on every $1,000. you've got a lot of turnover, can they pass a bill that cracks down on high frequency trading would that help you, would that hurt you what would happen, ron >> certainly not market positive wall street from a monolithic perspective would not take that as a positive for markets going forward. it might reduce the volume of activity that takes place. the usual litany of arguments that you get against this type of policy. i think there might be better ways to address deficit

shortfalls or ways to intervene with respect to structural issues. >> do you think you don't get the best pricing because of high frequency trading. >> everyone knows who trade, i've soon it happen. if you tlaed yrade you don't gee best pricing that's a professional issue. >> wall street would be helped by this because they would get better pricing if the high frequency traders were out of the market >> you can do this in a variety of ways, move away from sub penny increments and take spreads rider than they used to be and slow things down. people talk about nickel spreads instead of sub penny spreads financial transaction tax ends up being costlier for everybody at the end of the day. >> emily, if i agree with your macro view here, what should -- and let's say i'm typically a 60% equity person, is there something i should be doing with my portfolio, either lightening

up on equities or changing the kinds of equities i own given your views >> sure. so our view starting the year was really to pursue a more balanced approach to risk for 2019 really that sort of means clubbing down and hitting it down the fairway for this year it means notching up on quality within the portfolio, both on the equity side with a barbell approach to sector, some for offense, some for defense and letting go of some of the credit in the portfolio on fixed income and notching up on duration, opening more higher quality assets across the board. we do want to be invested. we've seen that has worked so far this year. we're starting to see chinks in the or more, the jobs report was evidence of that today in addition to disappointing global economic data. >> don't do anything drastic or rash but emphasize equality. >> this is our first step in

sort of peeling off risk within the portfolio in order to recognize the fact that risks are mounting, global economic growth has likely peaked and so has earnings gloegt here in the u.s. but it's still okay. >> emily, thanks ron, have a great weekend. >> look at the chinese data last night, you have to look at the impact of trade on global growth quality will be king going forward. >> have a great weekend. >> coming up, shares of national beverage, the ceo blaming the drop-off on injustice, interesting, strange, if you will, note from the company. we'll talk a lot more about what this means going forward there's not a lot of power in the energy market either. the xle on pace for the worst week since the selloff in mbceer a warning sign, a buying opportunity? we'll debate "power lunch" will be right back okay, paint a picture for me. uh, well, this will be the kitchen.

and we'd like to put a fire pit out there, and a dock with a boat, maybe. why haven't you started building? well, tyler's off to college... and mom's getting older... and eventually we would like to retire. yeah, it's a lot. but td ameritrade can help you build a plan for today and tomorrow. great. can you help us pour the foundation too? i think you want a house near the lake, not in it. come with a goal. leave with a plan. td ameritrade.

lacroix ceo blaming the company's poor quarterly results on injustice saying, quote, negligence nor mismanagement nor woeful acts of god were not the reason much of this was a result of injustice. they have no plans to release a press release. dean crutchfield is ceo of

crutchfield partners what do you make of it >> well, what's in your beverage. >> does the stock deserve to be down this much because people think the company's reputation is at risk is that part of what you think is going on here this is such a strange move by the c. o. >> >>. >> senly there are questions about what's in your product. >> there were stories that had been circulating that there were chemicals in the product. >> an ingredient that goes into cockroach insecticide. >> you don't want to be consuming that. >> exactly the very idea sends shivers down anyone's spine. >> if you go back up the food chain of this stofr i have is the problem that the company didn't address those issues as effectively as it should have, and if they had, they wouldn't be looking at the kind of earnings reports they got? >> exactly this news bloke on october 1st

when they were first accused of this they then responded in january with what they said was an independent lab test, independent lab. what is that >> they've founded many fruits, saying these are naturally occurring compounds. just because they were in some of those things doesn't mean they, themselves, are the problem. they could have done more i guess at the time. >> they took a long time to respond. >> exactly in the ceo's statement, he -- there's exclamation points in the statement. he says the personality of the word lacroix coupled with the experience of its -- they shout we just love our lacroix you don't usually see this language in anything vetted by a pr team. >> talking about dlininging too much of the cool ikool-aid they thought this would get swept under the carpet it's not one has to remember the power of word of mouth. this got out in october.

people were already chattering about it this was a cool brand that was consumed by people who thought they knew what they were doing >> my question is -- the issue about october and what was in the drinks, did he do more harm than good by responding in this way months after the fact that now has people saying what is really going on at this company? >> now i want to dig deep and know more. the most important thing about crisis is how you respond. typically companies, one, they deny it and two, they delay it the company has clearly delayed this by months. >> we asked the company for comment and they said they have no further comment we jerusalem the injusti we assume the injustice is the injustice regarding the chemical being -- >> professional liars is the other accusation this is a question of you've deknight need it, delayed your response, now you're deflecting it upon professional lies. >> how does he rebuild

what does he need to do? >> this feels like a muskegon meltdown. >> you need to literally respond to people's questions. what do you have that refutes the situation? forget all the cookie little words and statements and based on all this puffery. we want to hear the hard facts where do i go to get the information? come out defending your position now i need to know exactly what is it you're defending at the moment you've given me nothing and i want to dig more how do you stop people from digging? you need to answer their questions or give them a place to come to find those questions answered that doesn't exist right now. >> should the team have vetted this or prevented it from getting out or do they they it shows his passion, shows the character of this company, and it will be good publicity. >> but he's now coming out fighting feathers. he's caused himself his own mess there was a mess here four months ago now you've dug an even deeper

hole and now you have national attention, national press. people will be going online. i saw someone with a can of it a few weeks ago, i said you do know that has cockroach insecticide. this is the problem, you've let this genie out of the bottle where is it going to stop? it's going to stop with taking the pys out of your product. up over 170% over the past year here is a clue guessing this stock will be a real test? we'll speak with the ceo ahead low unemployment driving up the need for skilled labor like auto mechanics. we'll tell you how companies are filling the gaps stay tuned for more "power lunch.

welcome back to "power lunch. i'm kelly evans. energy is the worst performing sector to date, off 2% and off 4% this week joining me craig johnson and

boris schlossberg. welcome guys krig, what do the charts tell you? >> when you look at the chart, we did a comparison with the s&p 500. what's interesting in we had a huge selloff in q4 big relief energy a terrific performing sector we aren't seeing the performance the way we had seen in 2015, 2016 i look at this as a relief rally. i think we'll see energy sold and that money is going to rotate into other areas where there's more momentum in the market we'd be trimming positions in the xle. >> boris, what do you think about the fundamental prospects? >> i think the china oil story is important we had murmurs out of china that they're not happy with the trade deal because trump failed with the kim summit, the market is feeling they may fail with the xi summit. very bad for oil and xle

i wouldn't touch it until we have positive news on that front. when we do, i think there will be a strong short covering rally and the xle will be a good buy >> guys, thank you very much both, craig and boris. for more information, head to tradingnation@cnbc.com. a big miss in the job market numbers. is it because companies can't find workers we'll tell you where apple is looking for its new employees. the health of housing. why homeowners may have gotten a lot richer. the stock up 175% in 12 months, all this when "power lunch" returns

welcome back the house passing a bill democrats say will ensure fair elections and strengthen ethics standards. the bill is known as hr-1. it would make it easier to register to vote, would increase election security and require presidential candidates to release their tax returns, but it has little hope of passing in the gop-led senate. democratic presidential canned did john hickenlooper appeared on "morning joe" after his rally in denver. >> people can demonstrate they got stuff done i know i can beat donald trump and get back to accomplishing progress >> russian president vladimir putin took to the saddle to ride with moscow police after inspecting the mounted

troops, he hopped aboard a horse of his own, also took time to meet and congratulate female members of the unit in honor of international women's day. you're up to date. that's the news update ty, back to you. >> putin takes a pony ride how about that >> i knew you'd come back with something like that. let's look at the markets. lower across the board, but off the worst levels of the morning by far those worse levels followed a weak jobs report more on that in a minute the dow down 117, about .5%. s&p 500 down about 6%. the dow transports struggling down more than one percent this would make the 11th day in a row the transports are negative that hasn't happened since the year i graduated from high school we'll leave that a history we'll tell you

1972. >> '95 >> i love you. '72. >> let's check on the other market movers. cowan cutting rating on exxonmobil to market perform to outperform, target cut to $75 a share, at nearly $79 right now and briefly trading, eventbrite, predicting first quarter revenue, a 23% drop. big lots is speaking after beating street expectations on earnings, revenue and on sales that's about a 14% gain. this morning's job report slowing sluggish growth, but unemployment rate dropped to 3.8% the demand for blue collar workers is getting higher. keith rogers is looking at one industry driving that trend. >> more cars on the road than ever drivers are hanging onto their cars even longer

that means skilled auto technicians are in demand. 46,000 needed in the next few years. gear hart has been on the job for decades, constantly working to stay on top of advances in technology. >> it definitely doesn't get boring it's always changing as long as you can keep up with the technology that's out there, you're given a chance to use, it can be a very rewarding career. >> reporter: iconautomotive with brands like pep boys and ammco, executives say this isn't the blue collar work of days past. >> i think there's a stigma around the type of work and it's still this old, get your hands dirty, glees see job today's shop is more of a house of technology. we really think that students today should be thinking about that role as a s.t.e.m. career. >> median pay for these technicians is around $40,000 a

year according to the bureau of labor statistics those highly skilled and trained and have experience can work their way up to six-figure salaries another blue collar trade that pays more than one might expect. back to you. >> great news. how long would it take from someone doing something totally different into getting a job like this? >> reporter: a lot of the trade schools and certifications are between one and two years. the technician we interviewed for that piece has been doing this for 27 years and he's at the master level obviously you can get the trade school degree. you have to get recertified in certain things every few years and work your way right on up the ladder, kelly. >> sounds good thanks so much kate rogers in hackensack. our mystery stock, the company is proving that leavi's isn't the only company can do big business in jeans.

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let's turn back to the big story of the day, and that would be the big jobs miss just 20,000 jobs created in february that's way below the 180,000 estimate unemployment rate dropping to

3.8% does the jobs miss signal the start of an economic slowdown or is it a temporary pause in hiring, a blip mark morial is president and ceo of the national urban league and former mayor of new orleans. ron, let me begin with you we've had some months where we exceeded by a very large amount what was forecast in the jobs report here is one that went the other way. does this feel like the start of something bad or a statistical blip >> i think this is a blip, an aberrati aberration we've had seven straight months where the economy has grown strongly, at least 3.3% and higher look at wages. that's what i'm looking at if you look at what wages have done since april of last year, we're at the strongest point of where we've been since april of 2009 so when we look at the entire

package, the entire piece for the past year, i think america is strongly going in the right direction. >> mayor morial, ron points out that wages are going up. participation is roughly stable. 63% in the workforce wouldn't you expect as wages rise that more people who are out of the workforce would come back in? >> i think the most important thing about this report is it's a continuation of very, very strong increase, month over month, year over year in job creation i think over 100 straight months of job creation which is a record in american history i want to know what i looked at were the warning signs the warning signs are in the trade deficit. clearly there has been a concerted retaliation to the president's tariffs. that's exploding, if you will, the trade deficit. secondly, if you look at the report and get beyond the northeast, the housing market

remains extremely soft prices are not strong. the valium activity is not strong the northeast seems to be a little bit of an outlier in that the housing market is strong these are warning signs. i'd also add the continued structural deficit in the economy where black and latino unemployment are higher than white unemployment and even federal reserve chairman powell mentioned that in his recent testimony before congress. we've got to look at the warning signs to determine i think what needs to be done to avert a downturn that's the key things. if you sense there might be a downturn -- i don't think i see one. what you've got to do is take steps to avert it. >> ron, i take the mayor's point, that there's still a gap between white unemployment numbers and those for latinos and african-americans. there's been significant progress made in those two demographics, latino and

african-american unemployment? >> absolutely. we saw this month those levels are still at historical lows yes, the mayor and i would absolutely agree we have much more to do and much more progress to be made. i'm a glass is half full type guy, ty. we're going the right way, going in the right direction certainly it gives encouragement to the people of color who have felt traditionally shunned and isolated from the workforce, the feeling that they have a chance to get a piece of the american dream by getting a high-paid job. >> i know mayor mario is a glass half full guy, especially mardi gras week. let me play a little sound bite that tim cook had earlier in the week while he met at the white house about the kind of folks he's hiring. let's listen >> we've never really thought that college degree was the thing that you had to have to do well we've always tried to expand our

horizons so that degree, about half of our u.s. employment last year were people that did not have a four-year degree we're very proud of that >> that's very interesting, mayor morial you would think a high-tech company like apple would be overrepresented, oversampled in people with four-year degrees and beyond in its hiring one would assume an awful lot of the people they're hiring, they're either teaching to code or have some coding experience either way, it tells you that there are opportunities for the non-highly dreed individual egrn today's company. >> there are he said half that means half of the people he's hiring have college degrees. we have to remain committed in this country to providing post secondary education, community college, four-year college or beyond, to everyone who wants to take that path having said that, what he points

out is that there is still a need for there to be increased investments in upskilling those who may have high school, those who may have been formerly incarcerated, those who may have been delayed entering the workforce. we can provide better prospects for jobs that might not go to college. but it's going to take a complete retooling i like the approach of on-the-job training or apprenticeships. i know there's expected to be an effort in that area. the national urban league is involved in that work. those are the kinds of things we need to do so the economy being where it is today, this is what we need to talk about, what we need to do to make sure we can close these disparities in unemployment. >> mr. morial, mr. morris, thanks for joining us. here is one last look, the shares up more than 175% in just

12 months. it's invita, recently announced it plans to offer personal tests to consumers with us to discuss is company ceo sean george. thanks for joining us. >> thank you. >> what differentiates you from ancestry and 23andme. >> if it's about your health, about the health for yourself looking forward or your children or your family, invita is the answer, the world experts across all areas are relying on we're becoming the number one brand, the one providing this information. the company to go to. >> you are specifically looking to take dna information not necessarily to tell me where i'm from or wra my ancestors were from, but to help me understand my own genes and the health issues or attributes that i may

have is that the difference >> that's right. given how fundamentally important genetic information is to health care througho i'll throw out a statistic, probably 20% of individuals in the population primary issues with health have genetic underpinnings. that means 20%, the decisions, costs, are driven by genetics. this is too important to be rationed in health care. over the last nine years, invitae has invested heavily cost and accessibility in q2 we'll make this available in a patient initiated format to get the same high quality tests the experts rely on into the hands of as many people that need it. >> i note revenues are rises losses on an earnings per share basis are narrowing and falling. when do you expect to turn the corner into profitability if you can tell us? >> we think probably sometime in

2020, given the heavy investment we've made, and the ability to drive costs down, which allows us to drive prices down. we've executed a novel business model knowing that fundamentally the unmet need was tremendous unmet need for genetic information. we've invested heavily in doing that, presented a better product, more comprehensive product. the volume and the revenue growth speaks for itself the costs will come underneath it. >> you talk about cost and pricing. what is the price of one of these tests today? how much is typically covered by insurance and how much has that price come down as you've increased efficiencies and cut costs out of the operation >> something i'm particularly proud of, something we're particularly proud of. when we started the company each individual one of these tests could cost up to tens of thousands of dollars today patients can get access to this information for $250

individual pay if they're covered by insurance which in many cases they are, it's from zero to $50 co-pay. >> what would you say to someone like me. i'm afraid of the reverse placebo effect, the more i know about what's in my genes, the more i might be sensitive to problems of something that's found in there at whatever percentage chance or is carried, might become a real health problem for me do you see that effect at all as people are more aware of what's in their data? what would i do if there was a false positive >> i think that certainly can be an issue in a proactive setting. if someone is generally curious or concerned about their health, we have the largest, most proactive test to answer those questions. without symptoms or family history, if you're not starting a family, not having a child, it's an individual choice whether or not you access this information. the vast majority of our

customers, the people we serve, the clinicians we serve have symptoms, have history, women starting families, interested in knowing how can genetics n sure we have a healthy mom and baby through the process. that's the majority of the tests we run, the customers we serve i think it be a matter of time to look at diseases of aging i think it will be an individual choice. >> final question. what is the main thing people are finding out these days what comes up on the screens a lot as a healthish zblu is it a hidden issue people might have is it kind of the stuff we see more, heart disease and things like that? what are the things being revealed >> cancer, cardiovascular disease, neuromuscular disorders, i've had personal contact with families, bouncing around the health care system for years trying to get diagnosed. these are the kind of stories -- the kind of stories we're

solving right now. it is across therd boo all disease areas, all stages of life when there are symptoms and family history, invitae is providing the answers at unthinkable costs. comprehensive nature simple, easy to use, really integrated into mainstream medicine. >> we can see the stock performance as well. sean george, thank you for your time. >> thank you have a great weekend. housing starts speaking 18% over the past month. it hasn't been that way for a while. that number was way beyond expectations the jobs report showing big weakness in construction jobs on the other side of the ledger we'll break it all down for you when "power lunch" returns after this

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welcome back it's a tale of two data points a. huge spike in housing starts and the jobs number showing a pullback in construction hiring. we have diana olick here fortunately to break it down what are you seeing? >> reporter: kelly, january housing starts better than expected but december's read was revised down pretty sharply. i want to focus on single family where the weakness has been.

the starts jumped 25% and up 4.5% annually. we have been seeing annual drops for much of the year however, building permits which indicate future construction, they fell in january to the lowest level since august of 2017 so there's the mixed message since builders face the busy spring market you expect to see more starts and permits. we got a read on construction jobs for residential and commercial construction, a loss of 31,000 jobs in february after solid gains in january and may be weather related now the bulk of residential building in the west and south and we saw snow in those states and very cold temperatures and we will have to see if they start to warm up and perhaps get more people out working. back to you. >> go get out of the snow and whatever it is down there. thank you, diana. next guest comes out today with a new note on housing saying that the housing storm has largely passed and the roof didn't collapse.

i guess that's good. joining us now is t.j. thornton head of equity product management at jeffries what tells you that the distress in housing is behind us, not ahead of us? >> we started getting interested in the topic in the fall because the stocks were getting crushed and, you know, it seemed to us like there's short-term concern but that the long-term picture of housing is favorable as the millennials reach prime home buying age they're in the 26 to 29 range. so we sought out some data sets. we found a data set of zillow web scrapes and essentially this pulls every transaction of zillow of single family homes and we can slice and dice the data as we wish and quartiled it and the high tax counties to see what happened there. and we also looked at regions.

and what we found was that all of the regions seem to be past the worst of the home price declines and those home price declines, too, we show in the note, were really pretty much limited to the highest quinn tile so the most expensive homes, particularly true in the high tax counties. so it seems it we passed the worst and what we have seen in 1-q though we can at the very high end is less bad. >> the worst of the price declines might be over in the luxury market. let's cut to the chase here because we have limited time and leave our viewers with a stock pick or two that you think is most promising among the companies that you cover. >> sure. we actually don't cover home builders at the moment but we do of products -- >> retailers, yeah. >> floor & decor that's on the franchise pick list we have units growing about 20%.

they're still a lot of room for penetration to grow. they're doing excellent -- putting up excellent comps and seeing a lot of the growth in some of the more enno investigative aspects of flooring and lvt has taken a lot of share, appeals to the first-time home buyer and cheaper than other types and one of the picks. >> thank you very much, t.j. we appreciate your time. >> thank you. and check please is next [leaf blower] you should be mad at leaf blowers. [beep] you should be mad your neighbor always wants to hang out. and you should be mad your smart fridge is unnecessarily complicated. but you're not mad, because you have e*trade which isn't complicated.

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check please. >> you know, you can make a lot of money in real estate, kelly, or lose a lot of money in real estate the chrysler building, you know it it's an iconic symbol on the manhattan skyline. once the tallest building in the country. sold for more than $150 million recently a firm rf and a foreign buyer are the buyers here's where the not so nice part came in they paid $800 million for it a decade ago and sold for 150 now. there's a lot of building. i was in hudson yards -- >> i want to see that! did you see it >> fantastic a city within a city

>> beautiful architecture. i love it's a part of the city that it was a nothing. they talked about putting in an olympic stadium. >> it is going to be something. >> who would have thought in '08 the stocks would have been okay but the real estate would have been creamed that does it for "power lunch" >> we'll see you next week ♪ good afternoon welcome to the "closing bell." i'm wilfred frost. >> i'm sara eisen. stocks seeing the worst week of the year fifth day in a row we'll break down the state of the economy with former ford ceo mark fields. he is here. plus, international women's day. we'll talk to some of the most successful women on wall street and corporate america. that all to come a fantastic lineup and we look forward to those interviews. let's have a look at the markets with less than