doesn't seem to be slowing truck or pickup sales. >> thank you so much dave habeger and our own philip lebeau, thank you very much. that does it must for "the exch" today. join melissa and tyler on "power lunch" which begins right now. >> i'm melissa lee with ty matheson beginning with a bang. should you keep with the rally is it a savvy move to get ahead of the heavy hand? and america's retirement crisis about a third of households have less than a thousand dollars in savings. the alarming stats and sound solution to secure your financial future "power lunch" starts right now >> hey, everybody. good afternoon, welcome to "power lunch." i'm tyler mathisen it is a rally on wall street this is no april fool's joke, as you see right there. 276 points higher right now.

stocks fluttering around session highs. the dow posting its biggest one day gainsince mid february so check out lyft in the meantime those shares going the other way, tanking on their second day of trading falling below the ipo price. below $70 earlier today. now at $70.50. let's go to bob pisani on the floor of the new york stock exchange with the trading action hi, bob. >> hello, tyler. the markets are holding their gains and a very good reason for that the china manufacturing data was much better than expected. and it plays perfectly with the bull narrative that china's economic weakness may bottom this year. now, it was risk right from the outset semiconductors, the stocks all leading and of course, the defensive names, consumer staples, utilities, all lagging. better than expected ism manufacturing in the united states and construction spending numbers better than expected

also lifted the markets in the middle of the morning. bond yields dramatically on that and you see everything up 3% in the bankroll you heard it, tyler. a stock that prices on $72 on thursday and opens to 87 on friday and closes to 78 and now below $72 ipo price in two days. it tells you it was overpriced does this mean all the other 230 companies planning to go public this year are in trouble it does not. but it sure does mean that upcoming companies like pinterest, for example, they're going to be a little more cautious in their pricing and that is good news. lower prices for investors to buy into is good news for all of us levi strauss, reasonably priced at the get-go. opens at 22. look, it's still there 22, still holding up case losed guys, back to you. >> bob, thank you very much. bob pisani on the floor for us today's rally fueled by surprisingly strong manufacturing data from china

but europe is struggling germany looking weaker than it did a couple of weeks ago. seema mody >> that's exactly right. china's manufacturing activity, returning to growth for the first time in four months. may have eased global slowdowns and not so fast. in europe, manufacturing data came at the lowest level since 2013 lower by italy, france, and germany. as you can see right here. three countries seeing a significant decline in manufacturing activity furthermore, it is in a manufacturing recession. two factors there, weak auto sales and a softening economy. so far, this hasn't stopped global equities from having a strong start to the year germany just posted the best quarter since 2015, up 10% over here at shanghai composite with the best quarters since 2009 this year, already up nearly 30%. the question is, can these global equities continue to outperform this year really comes down to three major

factors, a trade deal, the fed and the direction of the dollar. guys, back to you. >> seema, thank you. seema mody. also helping boost stocks, better than expected economic data in the united states. steve liesman with a rapid update on the economy. >> economic data a bit better than expected prompting modest upgrades to still weak outlook growth for the first quarter and a first look at the second quarter. not waste any time q1 tracking 1.5. up two tenths in the right direction but still down substantially below 2% and below the fourth quarter number as well here's our first look. we poll for the first time on the first day of the quarter 2.7. we'll take it, right guys? >> absolutely. >> thumbs up around the table here and that's the first look at the second quarter forecast. let's see how we got there if you play craps the hard way when it comes to the upgrade to the first quarter. we went down, way below expectations in february relative to the forecast on retail sales but a bigger vision upwards to january

don't get carried away here. the ism manufacturing for march coming in better than expected and a healthy 55.3 while construction spending topping analysts by a long way with a 1% gain slowdown, not looking as weak right now as it first appeared i was just looking at the outlook for fed rate hikes and both september and october now are below 50% on a cut they're still up there 42% respectively and 48% respectively but they're both now below 50% and that goes along with the rise in bond yields that bob pisani was talking about. >> the rapid fire, precise, rapid update >> that's the previous show. >> exactly i'm just wondering, if china data turns out to be better than we expect and saw, what are the chances of a revision hire

>> i think considerably high the only median we know of on the street for tracking forecasts. guys come up at the beginning and i think the first quarter is 2% as the data comes in, i revise that forecast. that's my tracking so we have 10 or 12 tracking it's more accurate than any other estimate on the street and it will change as the data comes in if china ends up being stronger than expected and that influences the u.s. data, we will revise that too. >> the first quarter looks better than it did we talked about it being 0.3 at one point? >> yes, and some folks at 1% now there's even j.p. morgan, who's not part of our forecast but up 2% now. we'll take it, right >> absolutely. >> steve, thank you. stocks at session highs right now. april is generally a strong month for stocks the s&p hasn't fallen in april since may back in 2012 and the dow has not fallen in april since 2005

so should investors keep riding this rally or are the bulls getting ahead of themselves? lindsey bell an investment strategist with cfra research. michael farr, a cnbc contributor. lindsey, let me start with you it seems like there's a lot of things in the market's favor here low inflation being one. a relatively passive fed for another and economy that's growing, albeit slowly, but i guess the worry is what are earnings likely to look like for the first quarter and when we start seeing numbers that say they're down from last year, that doesn't mean that they're not growing at all >> that's right. q1, the consensus right now, an earnings decline of 2.4% we haven't seen any since the second quarter of 2016 that's when we actually did have

an earnings recession. and even on top and the big question is, and you said it, it's q2 guidance and what guidance will be for the rest of the year that is what the market is going to hang their hat on get into april later next week and we start getting earnings report from these companies. we want to know what consensus or corporate management teams think q2 is going to be like and my guess, they're going to be pretty conservative. >> michael, pick up on that thought. maybe i didn't express that quite correctly. not that companies are losing money but continue to make money. just not going to churn out profits as fast as we were accustomed to in the past. >> that's right, tyler and when we go back a year and getting into 2q and 3q, they go

to show it as earnings on the bottom line and that really boosted taxes. well, we're starting to anniversary some of the numbers now. so the real earnings growth has got to come from what the company can actually sell. not a year over year comparison. let's see what the top line sales are looking like is mcdonald's selling more than the same quarter last year the top line numbers tell you whether we have expanding growth and a positive economy i think we do. i think all of the data when you go to an employment numbers and everything and the back of the forehead and saying alas >> you sound like a cautious bull, michael. a cautious bull. which is what you usually are,

but you're also saying, get into defensive sectors of the market. quick thought there before we bring lindsey back in. >> i think that you've got to do that this is no time to be taking rest there's clearly something going on in the marketplace. so companies with good balance sheets and i think you know those companies with good cash flow, that haven't participated as well. a lot of value stocks. you're seeing consumer durables, consumer staples do well today and the banks do well today. that's a shift pay attention if that continues in the second quarter. a little bit of flight to safety and actually makesgood investment sense to make. >> at the same time, it sounds like you like risk if you consider technology and communication services traditional sectors, is that the way you view it? >> we definitely think you need to be in these cyclical sectors. the market year-to-date has really flocked to these growth sectors and tech and communications services are two areas that we are sticking with for the foreseeable future as

the growth environment slows here and abroad. while we will expect to see gdp growth of 2% or more, and the second, third and fourth and the tech sector. >> thank you very much lindsey bell, we appreciate it michael farr, good to see you. thanks again >> nice to see you >> you bet. coming up, president trump said the mueller report summary totally exonerated him democrats disagree did the report change anyone's mind we have new poll numbers and we'll bring it to you. mark zuckerberg yilang out how he'd regulate the internet what will congress actually do that's up next on "power lunch." or built to last? etfs are only part of a portfolio. so make it easy to explain. give me a quality fund that helps me get clients closer to their goals. flexshares etfs are designed and managed around investor objectives. so you can advise with confidence. before investing, consider the fund's investment objectives,

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a rally on our hands with the s&p 500 at session highs as we speak up by 1.1%. a gain of 30.5 points. financials, really about the leadership in this group today up 2.5% followed by industrials which is higher by almost 2% mark zuckerberg laying out what he thinks internet regulation should look like. julia boorstin with more for us. julia? >> reporter: new rules for the internet in anop-ed for the "washington post." addressing harmful content, election integrity, and he wants regulators to set standards about what would count as a terrorist content or political ad that would shift the onus away from facebook for privacy regulations, zuck zuckerberg on a framework and

for data portability, regulation is needed to ensure the safe transfer of data between services and even away from facebook. we'll have to see whether this helps facebook work with congress amid calls to regulate or even break up the company senator mark warner saying, quote, i'm glad to see mr. zuckerberg is finally acknowledging what i've been saying the last two years. the the eera of the social medid west is over but david is critical of zuckerberg's proposal saying facebook is under criminal regulation and cannot regulate itself does anyone even want his advice a couple are bullish on zuckerberg pull puttitting the facebook on what's app could impact the upcoming election. >> julia boorstin, thank you zuckerberg on the mark with his regulation call or pushing the european model to prevent

washington from greater regulation to the bigger tech? this seems like and the question is, will congressional leaders actually buy this old play book? that is put forth by many different industries across the years. >> you're absolutely right just remember the political context in which he finds and publishes this op-ed 2020 presidential candidates out there like senator elizabeth warren talking openly about breaking up companies like facebook and just as you guys pointed out, senator mark warner has been very vocal on these issues with respect to privacy and the kinds of content that social media sites allow on their platforms. from facebook's perspective, this is about getting in front

of that conversation and putting out some alternative the devil is going to be in the details. we'll see what actually happens if lawmakers begin to write some of the things into legislation and potentially into law and whether facebook uses its huge lobbying arsenal to support those things or ultimately oppose them. >> at this point, does facebook, do you think, have the power to have lobbyists sit alongside lawmakers, putting together drafts of proposals for regulation or are we just too far along here >> absolutely, they'll have a seat at the table. very powerful player i think the real question though and i think a theme we keep hearing about which is a good one is that there's calls to break facebook up and so this almost feels a little bit like a bait and switch from facebook's point of view about trying to steer regulators towards this set of maybe less onerous in motion saying you need to remove instagram or remove what's app with some of the suite of products and services that make facebook a profitable company.

i think they will be at the table and the more genuine they seem, the longer they'll be there. >> the gamble, tony, i would think is that, you know, in penning this op-ed, mark zuckerberg is saying we need some help but also a concession that we can't do it ourselves. that we are too big to police ourselves and we need the outside and that can be dangerous. >> the other side of this is lawmakers are already having these discussions. the conversation about privacy, for example, really grows out of many of the scandals that we saw. facebook itself last year and the very investigations that congressman sicilini was talking about and the process of the rules is started consider the fact here that california, for instance, put into place its own tough online privacy rules. in some ways, zuckerberg is late to the conversation but in every single element he identified, whether it was taking content

offline because it's extremist or the privacy pieces that we just spoke about, these are not things that would fundamentally change facebook's business and in many ways, it's advantageous to have some of that regulation because federal law and privacy, for example, would replace what the states are doing it's really an example of facebook potentially taking the path of least resistance and on regulation and keeping its business mostly in tact. >> stephanie, what about international regulation here? the u.s. might do one thing or it might do anything but then there's also europe to deal with there are asian countries to deal with. there may be a patchwork quilt of regulation. >> i mean, that's, i kind of agree more trying to get u.s. federal regulations in lieu of 50 different state regulations and that completely discounts every country around the world and, you know, the eu instituted its gdp global privacy regulation last may and facebook and other major companies were

sort of relatively advantaged because they have the resources to weather that. i think mark zuckerberg in the post calling for global regulations of facebook is clearly kind of this ideal of what he could be hoping for but i agree, you know, none of the things he called for are things that probably facebook isn't already being politically pressured or directly pressured by one country or another to do. >> we'll leave it there, guys. thank you so much. tony and stefanie miller. the rally back on for amazon up 20% so far this year. is $2,000 a share right around the corner we'll talk about that and we'll tell you why casino stocks are rallying today as you see right there. look at the 8% moving wynn "power lunch" will be right back

welcome back to "power lunch. i'm michael santoli at the new york city. check out amazon rallying after oppenheimer with a rating and upped its price target on the stock. from now expecting 15% upside after already surging 20% so far this year. oppenheimer, whose colleagues made the call joining us now alongside gina sanchez of global

for "trading nation. give us the case right here. obviously, it's had a really good run still a good deal of head room to the all time high from last year how's the stock position >> here's one where fundamentally, it lines up and i say the macro was supportive as well the higher growth large cap companies in this low growth worm and that includes amazon. in the chart, i think the key point for us is that this is the most tactical amazon has been in years. and we say this looking at the stock's weekly mac d oversold levels from 2014, we think this is a resumption of the longer term uptrend and then speaking in terms of levels, the the near term breakout with the 200 day now support at 17-30 and with the resumption of that long-term uptrend, we expect new highs above $200 resistance.

>> all right, when you say tactical, i know you mean the chart has given you the opportunity to play that inflection point higher. gina, you really could never doubt the amazon long-term growth prospects it was all a matter of how much the market was going to be appreciating those and valuing those at any given moment in time where do you come on it right now? >> well, look, i think amazon was one of the companies that put one foot in front of the other for a long time and in 2018, hit terninhe earnings stre and now, it started out as simply a book seller and now threatening industry after industry after industry. i do think the fundamental story is very solid for amazon the question is what happens as the market turns the corner in terms of this rally and the economic expansion as we get defensive towards the end of the year. a company like amazon could actually still have a role in the portfolio because it's so strong, but its achilles' heel will be the evaluation i think other than that, amazon has a great story.

>> obviously, the market is coming back around the appetite for the secular growth, we'll see if it can carry to last year's heights ari and gina, thank you so much. for more "trading nation," head to our web site or twitter at @tradingnation. "power lunch," all over this rally. the dow surging more than 300 points right now plus a new survey how americans are saving money we'll lay out all the results and reveal today's mystery chart. this stock up 22% this year. all this when "power lunch" returns. >> and now, the latest from tradingnation.cnbc.com and a word from our sponsor. >> in determining your entry points with rising stocks, look to buy pullbacks at support levels such as uptrend lines, prior lows, vivnaci levels i'm lee bole and schwab is the better place for traders measure up?

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hello, everyone. i'm sue herera here's your cnbc update.

president bolsnaro visiting the wall with netanyahu. expected to decide whether to follow president trump's lead and move the brazilian embassy from tell aviv to jerusalem. filling up water buckets amid failing infrastructure in the nation's capital lining up from water flowing from a nearby mountain despite the warnings it's not fit for consumption. and this is no april fool's joke up to 11 inches of snow fell in syracuse early this morning forcing residents to start their day by using snow blowers, shovels and ice scrapers on a lighter note, the cheesecake factory teaming up with door dash to give away $250,000 worth of food today the first 10,000 customers who use the door dash app will receive a $25 gift card to use on a delivery order any day this week get ready. the giveaway starts at 4:00 p.m. eastern time today good luck. that's the news update this

hour i'll send it back to you >> a lot of cheesecake thank you, sue about 90 minutes left in the trading day. a check on the rally at this hour a couple of points off the session highs in the s&p 500 now 29 points or just over a percent. 292 points, the nasdaq composite about 90 or 1.2% in the meantime, take a check on shares of lifyft. shares plunging below the ipo price and below $70 earlier today. it is now 10.5 the level holding right now. ty >> casino stocks are rallying today. let's check in with contessa brewer for a market flash. >> the group of casino stocks up on the day and drill down on the stocks with exposure we're talking melco, wynn, up more than %. wynn up more than 8% even though gross gaining revenue down year

of year. it was up against a tough one. grew 22% and harry kurtis points out, the official march number far better than expected they expected it to be down 5% or 6% and down half a percent, it should be viewed as an incremental positive for the gaming stocks. both seeing their best days of the year and tyler, don't forget, tomorrow wynn goes into that big hearing about its license in boston. we'll have to see whether the markets are moving on the hearing at all >> contessa, thank you very much contessa brewer. oil market is closing for the day. dom chu at the cnbc commodity desk. >> so risk appetite, not just for the stock market we're seeing it play out in oil as well. west texas intermediate prices $61.63 up by about 2.5%. brent crude prices about $69.07. 2.25%. and winnings streak for each a combo, less fear of an economic slowdown and that

coupled with concerns and wti prices right now touching their 200 day moving average for the first time since october 29th. wti up 27% just this year alone. the s&p 500 energy sector up more than 17% in that year-to-date time frame. that is, by the way, guys, the second best performing sector second only to industrials, kel. >> thank you very much to dc now. and a new nbc "wall street journal" poll showing fewer people have doubts about president trump after the mueller report and republicans look to be all in on the president with just under 80% of the gop saying they're enthusiastic and comfortable mike allen, co-founder and executive editor of axios. this is not unrelated to the poll numbers but what do you make of the president saying he really might shut down the border what would happen if he made such a move? how likely would that even be? >> so i think that he thinks it's very likely our reporting shows that the president definitely wanting to

do it. reporting the president talking about it behind the scenes administration officials feel like it's going to be unlikely they feel like it won't actually come to that if it happened, the mechanics of that would be at the ports of entry on the southern border, it would be closed except day laborers, who would still be able to go back and forth, but other than that, it would be closed huge disruption and of course, a huge symbol. >> are we talking about being closed to, for example, the highways are closed? the trucks that are coming across to make their deliveries? does that just mean from mexico into the u.s. or both ways >> and you put your finger on it great. a question that this hasn't been worked out like the president's view on health care. the president tweets these views, takes people by surprise, says them to the pool and then people try to work out the policy so there is not a secret policy of exactly how this is going to

be done. it hasn't been worked out and that's why administration officials tell us they don't think it will ultimately happen, but they say the president is not bluffing as he says on camera, deadly serious about it and may want to find a way to do it but as my grandmother would say, cooler heads will prevail. >> a ton of commerce going back and forth. we're just curious, you know >> it would be a massive disruption >> in the meantime, he's been creating a stir, talking about health care, saying the republicans are going to have a great plan and pivoting almost immediately after that mueller report that we mentioned off the top came out to this issue, a lot of republicans don't really want him to tackle the health care stocks this year, and is there a plan? >> no. you're leading the witness there. for sure not here's the dilemma among republican officials and our reporting shows that republicans on the hill even some people in

the cabinet unhappy about this they think it's a pipe fight they don't want to pick. here's what's going to happen here if this case were to come out that obamacare, the affordable care act were to be struck down, it's really true as you read the potentially 20 million people could lose their coverage the administration is out there saying they'll try to preserve preexisting conditions, but again, there's not a plan for that the top house republican kevin mccarthy calling the president, person to person, saying he doesn't think that this is a good idea. that this is a political problem. just as i was walking over here to the camera. i talked to the axios health care editor sam baker. he have had a great line he said republicans better hope they don't prevail because it would cause both policy and political problems it's rare that you get that double header. the president's view, excuse me, just real quick. the president says that democrats aren't going to bash

him on this issue anyway, so may as well take the offensive. >> where does the president use the capital gained on the back of the findings of the mueller and that new poll showing republicans overwhelmingly support him? that political capital won't buy him much >> he's using the capital to float these ideas and get traction for them. we call them the post-mueller war, so the post-mueller wars, you can look at what he's doing on health care, about the border, look at cutting off the aid to the three central american countries these are all the president, as they used to say, behind the scenes, feels this is a big win. he, of course, trying to brand it as an even bigger win than it was and this is where we see him using this capital to float these ideas and convince the

people who are with him that he's fighting their fights the the most interemost interes you were citing at the top with the "wall street journal" poll how little room he has to maneuver 50% in the "wall street journal" of register voters very uncomfortably with the candidacy. 25% very excited about the candidacy. again, that's a very narrow band you're not going to win with 25%. you need to get back son-in-law -- some of the other band. the president has another inside strait he has to hope for. >> i didn't get to ask you about biden. >> that's what i was going to ask. >> is he out >> biden's weekend from hell >> we've got to go is he out? >> medical repo >> mortally wounded or not biden? >> oh, no. i'm never going to give a one

word answer, but he definitely had a weekend somebody looking to the next couple of weeks definitely wouldn't want >> thank you so much for joining us, mike allen to the bond market now rick santelli is tracking the action at the cme. >> big day at the treasuries up six basis points. 5s, 10s, and 30s a bit of curve steepening now. a chart of tens right now at these levels, 21st of march. a week ago friday as you see on the 8 day chart. a year-to-date shows you where we're headed the breakdown point was 255. low close of the year on the third of january, seems like we're getting there quick. we'll see how traders behave finally, talking about yield curves 10s to 2s up at 17 up five from a week ago at 12 and here you see three months to ten year, currently at 10 positive so in a couple of weeks, we've

turned it around a bit much of this action, of course, seems to be off the strength of the equities within striking distance of all time highs and finally, the dollar index. remember, it was very counterintuitive showing major gains when treasuries on the soft side now that rates are if i wering u-- firming up. the 97 handle, a lofty area, 20.5 month highs based on the notion that 90, 95 right now, below the market and of course, 97.67 is the high going back to the summer of '17. tyler, back to you. >> mr. santelli, thank you very much results of a new survey with how much americans are or are not saving for their futures that is coming up on "power lunch. be right back. ♪

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now you know and so do i a new survey part of our financial education initiative invest in you, ready set grow. we do in partnership with acorns, the saving and investing app. surveys by survey monkey examined trends about americans savings behavior and revealed that optimism is growing more than half of survey respondents, 57% say they're more confident about their ability to save for retirement than they were three years ago dig deeper into our survey with our cnbc contributor and management expert, susie walsh why do you think people feel more confident it's simple as the idea that their 401(k) plans are plumper, the market is higher what >> i think all those things. they feel confident about the way the economy is moving. now, ironically, that doesn't mean they're saving more in some ways, they're saving probably less according to the survey because they had this confidence that they're going to be able to earn down the road and so it doesn't walk hand in

hand with what you would hope to see with people that they would be putting aside money for the inevitable bust that comes after every boom. >> feel more confident in their jobs maybe their incomes are a little higher and taxes are a little lower. >> all those reasons and then they say. >> not putting it away, apparently. >> it depends on the age group but what you would expect to see. you see the younger you are, the less you put away your money, the less you save, the less you think about saving and you think, it also goes with the simple fact that when you don't have a lot of money earlier in your career, i'm not going to hire anybody to help me to do this it's not true because the less money you have, the more careful you have to actually be with it. so you see that people start saving and setting aside the 40s and 50s when retirement is coming at them like the locomotive it's late in the game for them to be happening. >> that stuck out to me, suzy. i feel like more americans out to higher a plumber to fix a leak underneath their sink than

somebody to manage their money. >> not only manage their money but don't talk about their money. even people young and educated, four children, they were raised in a household with me and my husband, we talked about the money and economy. if you bring up money with them, they're all human beings they don't want to talk about it or hear about it it's going to take care of itself it takes a special young person to say, i'm going to save, i'm going to figure out what investing even means and then they don't realize there are actually tools available to them that are quite economically feasible you can have these tools that are online or whatever and you can figure out a way to save and have a financial plan for yourself >> yeah, yeah. >> it's a persistent question. when i was working at money magazine, we did surveys like this and found people were far more inclined to talk about their sex lives than their financial lives. i don't want to hear about either, but whatever, it shows you how private people are >> the statistics that shows for 32% of all women, their

financial adviser is their husband. >> that bothered me a lot. >> unless he's in the markets, why just turn to some? i guess there's a trust factor and the divorced people, very high in 56% or even higher of divorced people don't talk about money with their families at all but if there was a time you needed to talk to somebody about money, it would be when you're going through a time when your money is completely changing and people feel alone, there's all sorts of emotions associated with money and i think you're right. there's almost any topic you could talk about besides money >> absolutely true so as i look at this, i look at a couple of numbers we've quoted here in the past like 30% of households wouldn't have a thousand, don't have a thousand dollars on hand. two out of five, if they had a $400 expense, they would either have to borrow or sell something to pay it off. unanticipated expense. >> it's heart stopping, isn't it it really is and it doesn't have to be that way because one of the reasons it's happening, and there are economic reasons happening, but one of the reasons it's

happening is within our control and people are not having conversations about money and what they should do to plan for the time where they're going to have a financial emergency because you're going to have one. and hope is not a strategy when it comes to managing your money. >> thanks very much, susie good to see you. fantastic. we should note that nbcuniversal and comcast ventures are investors in acorns there you go now you know after the break, we will reveal today's mystery chart iss 's a hint. th iup 22% this year "power lunch" is back in two ♪ ♪ each day, brings new possibilities. that's why you need a partner dedicated to helping your company reach its goals. u.s. bank -- the power of possible.

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time to reveal today's mystery chart. up more than 20% this year it is alexandria real estate equities the company owning a new agricultural campus. joel marcus, the company's founder and executive chairman joel, great to have you with us. >> a real pleasure to see you and be here. >> ag tech what is ag tech these days >> so what it is is if you think about the average person you want to live healthy, have a vibrant life, but 2/3 of americans today live with chronic illness and about a third -- adults.

and a third of children live with chronic illness and the only way to correct that is to have good nutrition and to fight disease. so we've been fighting disease for a long time and making good progress in our clusters and with our ecosystems now's the time to take on the nutrition side >> so this really sounds related to some of your core clientele, big pharma, biotech, academics >> and now the whole agri -- kind of food to table, sought whole food and ag tech environment. yes. >> how important is it to identify the industries that are growing? do you have an in-house staff of people to say which industries are going to be next in terms of where we target? >> yes, absolutely we're i think very good at alexandria about spotting trends we spotted the ecosystem and cluster trend for life science back in '04, '05 and '06 and you see today it's still a white hot industry so we've been inkoobating the ag

tech for a couple of years and now launching here today formally >> a lot of it is location a lot of it with the 23% gain is macro and rates. i'm curious how you planned for that >> we're very fortunate. i think we're driven by both macro, fed accommodation, now over the last quarter, and obviously interest rate kind of moderating and maybe moving downward but also on a micro basis. we gave great guidance for 19 to the street and our pipe line for 20, 21, 22 very few companies can do that and a great outlook. favorable macro and very favorable micro have moved the stock this year. >> why research triangle >> that's a great question it's almost like a basketball question so unc, university of north carolina, duke, and nc state really are the three anchor institutions within a short distance of each other

and inside that triangle really resides some of the most powerful technology, agriculture holl firms it's become the center of ag tech in the world and life science. so it's a very vibrant area. >> excuse me were tax incentives part of this >> no. not at all >> it's very interesting very interesting because so many -- we have amazon on our mind >> yes >> and we think of a company like you going in there and -- >> ours are strictly driven by fundamental issues and we really don't look at tax issues as part of our strategy. we never have. >> some of your clientele are some of these unicorns waiting to go public >> yes >> the ubers, the pinterests of the world. 10% of your business, which is a smaller part but i'm wondering in terms of growth how much is it in terms of the growth of your business >> it's balanced i think life science is core and that will be -- continue to be the dominant share as you said, about 10% technology we're delivering a million square feet for uber in mission bay right next to the warriors'

new stadium coming up through the next couple of months. we just announced half a million square feet with pinterest they're about to go public and we think with that business they've been reducing their burn and ag will be probably 5% or 10%. so well diversified but taking advantage of really the leading industries in thecountry >> are you surprised that we work has struggled with its business model >> i've always thought a business model where you sign long-term commitments for leases and you have monthly memberships as income is a very mismatch of revenue and expenses i never understood that business model. and also in our world, where you have highly proprietary technology you don't -- coworking doesn't work if you're trying to hide your patents and what you're doog doing right here and i'm sitting next to you kind of ofrking, it's not quite the same as being in the office -- >> so by the very nature of it, we work deals in commodity office space and commodities can

be easily disrupted, i would imagine. >> right and people in the life science industries who have high i.p. barriers really don't want to be -- they're collaborative but they don't want to share space if you're working in the lab and also contamination you may be working with biologic and maybe have a chemical. not a good mix sometimes. >> yeah, you want you to keep your contaminants to yourself. i'll take my biologic work over here joel, great to see you >> a real pleasure thank you for having me. >> alexandria. >> don't go anywhere check, please is next. that's great. but right now you've got your hands full with your global supply chain. okay, france wants 50,000 front fenders by friday. that's why you work with watson. i analyzed thousands of contracts and detected a discrepancy. it works with procurement systems you already use to help speed up distribution without slowing down your team. frank, tell fred full force on those french fenders. fine. fine. fantastic. for ai that knows your industry, choose watson. hello! the best ai for the job.

check, please. >> holding on to this rally. the s&p 500 is just about at session highs right now with a gain of 30 points, or 1.1% take a look at where the leaders are coming financials up 2.2%. technologies as well as industrials. it's cyclical areas and all of this really helped by the china data we got over the weekend better than expected so maybe a slowdown won't be as deep or as long as people had been expecting that's certainly helping the u.s. markets today >> it was a very good first quarter and hereby we begin the second quarter with 1% moves for the nasdaq, s&p and the dow. but sadly if you invested in lyft not too many people could get in on the ipo but maybe you bought it in the after-market, you'd be unhappy today because look at where lyft sits. or lies. or whatever. it has cratered there at $70 a share. down $8 today, or 10%. as you'll recall, it went public last week at 72. it went up, flirted with 90,

right? >> 87 was the open >> 87 was the high and now back to 70 often that is the history of ipos >> we have to see what it means for the pipeline lyft got it for the capital rates but for the investor rates. >> thank you for watching "power lunch. >> "closing bell" starts right now. it is the final hour of trade. stocks rally here. morgan stanley's top equity strategist will reveal the warning signs he is seeing in the market lyft on track to post below its ipo price. what that means for other companies in the pipeline. and mark zuckerberg asking washington to regulate facebook. a former fcc chair will tell us what steps he thinks the government could take. "closing bell" starts right now. ♪ welcome to