we don't think it's going to affect our in a major way too badly. zpl quloul be in a good position if it becomes so big that it does >> i'll be happy about that. >> thanks for bringing this. good luck with it. and good to talk with you. that does it for the exchange today. i'll join tyler and melissa for "power lunch" which begins now >> i want some of that corn bread, kelly save me some new at 2:00, a wild trading day on wall street president trump warning iran after it took down a u.s. drone. are we headed towards a real conflict oil surging following the iranian missile strike golden sax' head of commodities will tell us where prices go from here. and the nba draft kicks off tonight. a slam dunk edition of "power lunch. starts right now >> welcome glad you could join us on this thursday afternoon

socks are in the green but they are off their session highs. the dow was up more than 250 points at one point. now about 80 points lower. the s&p hit a in record for the first time in more than seven weeks. yes, kelly, it has been seven whole weeks. >> it was kind of fast come to think of it. markets are reacting as president trump comments on iran let's get the latest from eamon javers at the white house. >> that's right. earlier in the day, the president had sort f a belligerent sounding response. the president suggesting to reporters that you'll soon find out what the u.s. response would be tweeting out that iran made a big mistake here, but then in the oval office sitting alongside trudeau, the president said this. >> i find it hard to be it was intentional. if you want to know the truth. it could have been somebody who was loose and stupid that did it.

we'll be able to report back and you'll understand exactly what happened, but it was a very foolish move >> the president many there suggesting it may have been just a rogue iranian military officer, perhaps a rogue general that was behind this shootdown and not something authorized by the iranian government as a whole. he suggested there that the united states government has more intelligence on this. he said we may be able to report back and you'll know the whole situation. it may be that the president already knows more about the situation. we're expecting a broef briefing here for bipartisan congress congressional leadership in about an hour's time we'll see if we can get more from the white house on that but the president's commented interpreted as a deescalation. perhaps a president who wants to offer iranian a way to back away from the confrontation at this point. >> thanks very much.

>> oil prices are soaring following iran's missile strike. hadley gamble joins us with the latest there >> that's right. in a briefing, the first in nearly a year from the pentagon, earlier today, we saw them confirming this was an unprovoked attack by tehran. speaking from the u.s. air force base in kqatar, the lieutenant general said there are q4 global drone ha had not violated iranian air space at any time during its mission, con if i wering firming with craft was over the strait of hormuz b and falling off the iranian coastline. that comes from iranian press today. after attacks on the six tankers as well as a spade of rocket attacks over the last 48 hours as well as international oil insulations in iraq, as you can

imagine, tensions are running pretty high in this region certainly folks that identify been speaking to in saudi arabia and the uae seem b to be r worried and all eyes are on what's going to happen next in washington >> thanks. stocks lost a big chunk of their gains after the comment, but we're bouncing back. back to bob pisani on the floor. a busy day there >> very busy and earlier on trade headlines and also on yawn ran headline, both here. take a look at the s&p we did hit the intraday historic 52956 or so. sitting right on that right now. there was a late headline on china u.s. negotiating teams may meet as early as tuesday this has this is the south china post to help us move up the blip there you saw about an hour ago. why are we moou something central bank and fed euphoria and trade euphoria

what we don't have is the fundamental issue and backdrop it's not good onning carnival cruise line, lowering guidance, lower booker volumes, bookings in europe were not good and that stock is down close to 10% take a look at the vicks why is it up if we're having new highs? it's simple. when it hits new highs, traders start reaching for protection because the market can move down easily don't be surprised about that. finally behind me, we got slack an what a day it was for them. a lot of issues and concerns about that the direct listing, put trest here open 38.50 trading above that right now, more important, 45 million shares at the open nearly 20% of the float. everyone was worried where's the buyers and sellers going to be and are they going to show up they showed up plenty. grocery outlet up 35%. lot of them just trading way, way above their initial pricing.

back to you. >> nice day for an opening opening the door for next month's fed meeting. the shift has been fuelling the bull's today bond prices are mooui inving hi, ten-year falling below 2%. gold soaring to five-year highs, so what do investors do in this kind of market where everything it seems is going up including oil. let's bring in davide eliassen. he expects yields to move lower from here. let's begin there. you've been right in terms of where it was going to go so far. >> thank you, tyler. good afternoon starting for quite a while ago when the tep-year was at 272.80,

i was looking for a two year target my next expectation is it's going down to 150. i think it comes from three differing factors. first, despite all of the central bank stimulus, we are not going to sew inflation anytime soon that is going to push the bond yields down. i see the global uncertainties, what happens with the south china sea where the u.s. and china have take b an antagonistic positions, that's going to come up sometime between now and next year's elections.

those are making me bullish on treasuries >> if bonds perform as he suggests or even if they perform little bit he suggests, not much competition for stocks is that an argument of all the things being equal to put money in stocks to keep it there i think the market h do better as the short end comes down and yield curve steepens out that will take pressure off the liquidity and the financial system so i'm generally pullish on equities everybody' afraid of a new high. so am i. but i've been here before. been doing it for many years i've seen many new highs when i got in the business, the

dow was i think 1,000. so it's not like first new high. rates on the long end of before, the short end is too high. there's a correlation, rates lower, stocks higher but the fed is determined to keep the economy going going to allow companies to continue to earn money, buy back stock and pay dividends. so i think we're fine. >> on the way to 1.5%, do you see an inversion of the yield curve? >> i see it, melissa, you have already seen that happen with three month to ten-year. i think you would see that happen with respect to the two to ten as well as the ten-year goes to 150 before that, i think you would see the two to ten as well

the reason is that you have the head wind coming from several factors. you're having a situation where the inflation just does not pick up and under those circumstances, it is difficult to justify eck wiities even with fed backstop when that is the only backstop there is >> would you answer how rates are not necessarily a favorable win for stocks, but also address the question b about financials. if i own them, are they a good place to put money in and if so, which ones and why >> i think the financial sector, we've seen what's happening in europe in japan the stocks trade about half the valuation as they do here in the

u.s. primarily because the spreads have gotten lore that's something i'm watching the most of. all the big downturns in the market have been generated by a financial problem. not something in microsoft or intel or facebook or something like that. so that's what i'm worried about. why the short rate, the short end coming down will allow the fed the companies to cut their deposit costs and give them margin there's two things happening here one, there's tremendous rate pressure because fed's not going to i think the rate rise is over and we're going to see a decline here secondly, with the tech companies from different angles are comeing after these companies. i'm focusing on the biggest banks that have a profitability to invest in technology then sort of the tech companies themselves like visa, mastercard, paypay those are the names i own. the smaller you get, the more

you have to r worry about or plan on consolidation and cost cut iting and things like that o drive earnings it's going to be much more difficult. >> we have to leave it there thank you very much. appreciate your time >> thank you coming up, more on today's big surge in oil up more than 5%. the head of commodities at goldman sachs is about to join us we'll talk ab bt how high oil could go if tensions are iran continue to escalate plus silicon valley's congressman, his take on the billion dollar plan to help the west coast housing crisis and the calls to break up big techs. stay with us woman: my reputation was trashed online.

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>> your take on?

>> i give credit to the ceo for taking a concrete step this is going to give land for more affordable housing development in an investment and it's not going to solve the problem. it cost almost $50 an hour you have to be b making $50 an hour to afford a two apartment in some parts of my district so it's a step, but it's not quoing to fix the larger crisis. i thought it is a company with $92 billion. it seems a pretty expensive way. give them a little breathing room while they're under skutny. is that the case you think >> google's approval rating is over 70%. i think they've heard from local mayors and local community

leaders that they have to be part of the solution and they don't want gridlock. they want to make sure the teachers teaching the kids of their employees can afford to live in the community. what i will say is the long-term solution has to be that google and other tech companies have to hire outside the bay area. that's why i've been pushing to get tech into rural communities and communities cough color. if google keeps hiring, it won't keep pace with the housing being built. we have to tribute the gains of the digital economy. >> how many of the homeless population are teachers and drug addicts? >> well i think the homeless population is mixed. >> of course, but my point is gook l building affordable housing going to get to the root cause of the opioid crisis >> it's not as severe as in other parts of the country, but i think the bigger issue is we

need way to get them back into the workforce and that's not just shelter tha making sure that they have resume training, making sure they have substance abuse training faith in action was a non-profit that worked well and we need the scale that >> translator: two b problems. one is the homelessness problem, but there's another. ornery teachers and firefighters can't afford to live there they have to live almost two hours away and i think the google grant goes towards both of those problems, but like i said, it's a first step not a comprehensive solution >> let me come at the question in a different way what percentage do eyunni particular ly in the bay area o the homeless people are chronically homeless and may suffer from some debilitating condition. as opposed to families that are homeless because they can't make enough money to live there

>> it's both i don't want to give you a statistic because i don't have them on hand, but i will say anecdotely you hear both many veterans, many have mental health issues. >> so part it's a mental health issue, not merely an -- issue. >> a fair amount is mental health, substance abuse issue, but you hear cases of a san jose state professor sleeping in her car because she can't afford to live in the area or someone who just loses their job as a chef or a nurse or a teacher and doesn't have much family and becomes homeless so you have that as well i imagine the vast majority is still though people who suffer from mental health issue, which of course was president reagan who cut all of the mental health funding and cut a lot of those centers, that created a lot f the crisis b initially >> my briefing note say that is the bay area is number three in term of homelessness in the country with about 28,000

people new york, 76,000 but new york provides shelter to 95% of its homeless population and the bay area just 33%. if those numbers are accurate, why is the bay area falling behind on that measure why have they be been less effective at housing the homeless than new york has >> well i'm not sure of those statistics, but if true, it's appalling we need to do r far more in building basic shelter my sense is that there hasn't been the priority on building the shelters and building the type of comprehensive services needed and i have called for far more investment in that. a lot of local leaders have and we have to do better >> congressman, if i could pivot back to technology in general and google specifically, you mentioned google has a 70% approval rating.

not sure who's being polled. >> morning consult poll. zpl so 70% what is your take on what google or big tech's rate is in general? it seems like your colleagues are being made the enemy of the people with you know everyone from the doj to ftc to various committees in congress going after them >> well there's certainly heightened scrutiny and two krps one is a concern about privacy and antitrust. and speak er pelosi asked me to draft the internet bill of rights these companies need to do a better job to protect people's privacy, to require consent, to notify data before their data is transferred and they need to make sure they're not privileging their own products, buying up competition and we need to be skeptical of mergers that would diminish competition. that's one set of concerns in washington but the bigger issue what you

hear from colleagues is how do i get these tech jobs in my district in technology opportunity in my community? tell these companies to help work with community colleges to create jobs where i am and i think one of the big divides in this country as we're going through a technology revolution, every american is a consumer of technology, but not every american has had a pathway to participate in the jobs of the future and we have to solve that digital divide. >> congressman, we're going to leave it there thanks for your time appreciate it. >> thank you coming up, a red hot xwrout stock is con pi growth and it's up more than 50% can it keep rolling? we'll explore that, plus the stock market rally petering out as the president talks tough on iran what tensions in the middle east could mean for oil which is surging today. that's next on "power lunch." is what teamwork is all about. you can't do everything yourself. you need someone to guide you and help you make those tough decisions, that's morgan stanley.

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shares are up 60%, 30% sales, with us now to discuss, analys analysts what do you expect, that it's

been supplied b, just not enough is that going to change? >> can pi has been expanding, a lot to talk about and see. ontario we're still in a dynamic industry providing the real eck appearance so we'll see what happens in upcoming quarters. >> how is it with that explosion you say. >> 30 times revenue. we're expecting thing -- that need to come

all those things happen at once. there's a lot happening. >> getting to 30 times revenue and need iing that expectation how does next leg, which is edibles, factor in does that need to happen as well because that's supposedly leaguized. >> it will been an expansion a large market around the world, but including, what you do to try to capture there then you can expand it with those that come on -- >> how big of a problem has the black market been. what is the assumption in terms of how many illegal dollars you can convert to legal sales >> in other market, b say the majority convert over, but it's not an immediate win >> majority convert over

>> over time >> which markets have you seen that >> you're starting to see in colorado and oregon more and more of the legal market take share. in canada, we haven't gotten there yet. haven't had a consistent flow of product and distribution hasn't opened illegal market is broad and ontario, you have a license to open 25 stores in april, so we're building >> what if canada is more like california as opposed to colorado >> yeah, exactly so there's a few different things going on. so california has a wide variety of producers, lots and lots of different brands and it's fragmented then we've seen different states take different approaches that allow more consolidation and more fragmentation we'll see if the expertise in growing allow them to get

consolidated i think canada has a bigger chance when i hear a stock is 30 times revenue, it says stay away why not? >> so you have an explosively exciting market. i think everybody axwree grees cannabis is going to be big. it is exciting then you're try iing to balance the volatility of when you see these things the thing b about it that's easier than some other high value markets is the market exists there's an illegal market. you have to grab it. so right now, we're at -- >> it's not that easy. zpl there's growing pains. you have restrictive, medical looking advertising. >> it will help with the growing pains. >> sor cbd >> it will >> all right rob, thank you ahead on "power lunch," gold and oil are soaring today. goldman sachs ahead of commodities jeff curry will join us and talk about where prices

might go from here plus, winner, win e chicken dinner tyson foods soar iing. they're big on theal terron fif meat craze and the nba draft is tonight. the league's depp pi commissioner joins us live to discuss. all this when "power lunch" returns. woman: my reputation was trashed online. i felt completely helpless. my entire career and business were in jeopardy. i called reputation defender. they were able to restore my good name. if you are under attack, i recommend calling reputation defender. vo: there's more negativity online than ever. reputation defender ensures that when people check you out,

they'll find more of the truth, not trash. if you have search results that are wrong or unfair, visit reputationdefender.com or call 1-877-866-8555.

israeli prime minister netanyahu calling for countries to stand by the united states efforts to curb iranian aggression he was speaking at a recession for robert kraft >> the last 24 hours, iran has intensified its aggression against the united states and all of us and i repeat my call for all peace loving countries to stand by the united states and its effort to stop iranian aggression israel stand by the united states in this >> walmart has agree today pay a $138 million criminal penalty t settle a justice department claim that it and a brazilian subsidiary violated the foreign corrupt act. the brazilian unit made $527,000 in payments to the sourcer es.

here at home, the supreme court rule iing that a 40 foot l cross shaped world war i memorial can remain on public land in maryland it said being on public land doesn't violate the clause which probts the government from favors one religion over the others back to you. >> thank you very much we got 90 minutes until the closing bell rings on wall street dow is up, nasdaq is up by 47.5. s&p 500, new record high, it is up now by three quarters of a percent. worth noting utilities and consumer staples sitting at fresh highs. >> melissa, thank you. a big day in the oil market. trading closing now. to dominic chu >> third straight day of gains for crude at least on the wti side of things west texas intermediate prices,

$56.88 6% to the upside brent crude, $64.59. 4.5% to the upside after iran shot down an unmanned aerial vehicle which caused the stakes in a tense environment, just raise d them afterers were attacked in the region last week president trump tweeted about iran making a big mistake. made those comments about how the public will find out if america will retaliate with a military strike of its own then his speculation it may not have been intentional softened things a tad. wti pries have now rallied by 12%. add to that, a weaker u.s. dollar the potential for interest rate cuts down the line and you get a more risk on scenario. >> thanks. with oil surging today, our next guest was bearish on it the last time he was on "power lunch" in april and crude down about 10% since then it hit the skids until today here is jeff curry

what to you make of the price action and how much whereupon side is there? >> i think you have two factors. one is a dovish fed and the other is a geo political risk. i'd be cautious here the world is a very different place today in terms of thinking about geo political risk than it was five, teb b years ago. then all the oil is off the market if anything, if you had an outbreak of war, they could get out of the sanctions and start exporting, so it could be bearish. the second thing is you've got the response of shale. fast cycle production. prices go too high and you koent get an yut break why did the fed cut is global economy is a lot more fragile in terms of thinking about a price fight tonight. you put it together. our forecast is 65 on brent. trading a around 64.

on wti, we are at 450 off of it. why do you look at supply disruption and not the supply that passes the strait of hormuz >> because technology today, again, this is not you know 20, 30 years ago technology has mine sweeps, they can find it. more of a symbolic, which is what the attack was. if they really wanted to sink that ship, that mine would have down below the water level underneath the ship. it was a tanker, an lpg tanker >> they clearly meant to down the drone. >> down the drone. >> that's not the oil simpupply, but that was a specific act of aggression it seems, so how does that factor into the oil market or does it not >> it adds to the overall tensions and it's helped

creating the upside we're seeing now. you know but i don't think either side wants an outbreak at this point now, which as you saw the president backed off in terms of the lang wang he was using more recently. but it does underscore that geo political tensions are escalating at this point now, yeah but if we're thinking about oil supply, i just -- >> take us there let's talk, step aside from back away the straits of hormuz and talk about demand and supply what's demand likely to do and how's that likely to affect? >> you look at demand. wepg about what we call cap ex fuel oil diesel that go to the manufacturing sector then you have op ex. what we see around the world is op exconsumer demand doing really well. cap exis hurting

investment in cap ex as you put the two together. it means they underestimated em demand i look at the wroefr all environment. we put a piece out the other day, we're stuck in a mid cycle pause. >> do you just watch that or have any basis for sayi ining ia buy or sell. >> we see modest upsides still left you priced a lot in. you've had stimulus. we look around the world ecb gave forward guidance. chile, aus tlal area, indian, china. there's a lot of stimulus in the

market so the question is how much of it has been priceded in. we're trading around, we could see it moving up to 1400 >> that's lot to get us to this point. good to see you. thanks very much >> thanks for having me. >> ten-year yield falling below. rick santelli is tracking the action as the cme. >> yes, indeed look at the this hour chart. you could see before we came in trading, we had tagged down to 197 but here we do sit at 2% small bounces and open the chart up to mid april. the spreads and boons narrowed significantly suggesting global pressures are having a huge influence on our yeel curve. we haven't closed under 2% yet i know it sounds like a small detail shl but it's important in the grand scheme of things

continues to be the lowest in the his are of deals i think draghi was putting pressure on the u.s. fed to ease maybe sometimes efb efb in the same jar is a good thing i say the u.s. should fight it and draw capital when everybody else seems to be b moving more negative >> thank you very much shares of beyond meat soaring more than 550% and now it seems efb everybody is trying to get in on plant based meat alternatives. even tyson getting ready to come t thla bedugtsouwi pntas nge we'll talk to the qfo about this big shift in eating b habits

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another wild day for beyond meat in this volatile market shares down 1.5% after sarting the session in the green there there are at 166 they debuted at 25 a 550% gain since their ipo in may. other companies now look tog capitalize on meatless main area tyson foods, the nation's biggest meat producer announce ed a new suite of products

including plant based nuggets. tyson shares have been b flying high in 2019 up 47% year to tate and joining us r for a "power lunch" exclusive is tyson foods chief financial officer. >> let me start by saying tyson has an amazing future in front of it. we've got enormous capability in scale. we have a robust innovation agenda and a global platform >> is that the case for why you're going to beat beyond meat >> that's right. thank you for that in fact when you look at the scale and capability >> what kind of growth do you

expect in the alternative meat area >> can't say specifically, but it's coming off a small base you could see a big increase we'll plan to lead that. great bugs scaldistribution sca all proteins grow. when you look globally, pork, beef, chicken, they're all growing b and we should see that happen alongside plant >> we're showing on the screen there what it will look like, that burger when it comes out in stores a blend, every time i see pea protein, protein from peas p-e-a protein. thank you. and beef there is a confused consumer out there right now who's looking through the grocery store and trying to figure out as i do, wait a minute, am i getting the actual beef, all plapt or am i getting some hybrid. how do quou man do you manage that. >> 92% of consumers are meat eating that's why all the alternative proteins are making their products look like meat. and when the consumer goes into the store, they're interested in what's healthy and what tastes good and the idea of a blenld

gets both those things the meat is tremendous and nutritionals are fantastic i'd encourage you to look at the nutritionals of our product. >> meaning if you look at the hybrid burger, that, because we've talked about how the beyond meat burger has more carbohydrate, more fat and calories so you're trying to bring a product that will be the best of both by saying it'ser for you, lesser calorie, but not just plant based. >> tyson understands consumers they're asking for two things. healthy heeating an great taste. >> what is the comparative calorie count for a typical serving? you know >> i don't >> some were lore on some pressures. >> you're going to see, yeah you're going do see about nine grams of protein and 30 odd percent less in fat. >> four pieces have 220 calories >> you have to double that for one serving.

four is kind of dainty, isn't it i was wondering how you think b about your market and forgive the term, not cannibalize pure meat sales with a blended product? are you getting that consumer, do you feel like you're losing consumers to this vegetarian movement >> no, i think the way we see it and the numbers that tell us is that globally, proteins are growing. we're selling $7 billion of product outside the united states so actually, we see an enormous amount of growth in our future to the extent plant proteins grow >> let me ask you about my son's favorite product tyson chicken buffalo strips okay went through a couple of large recalls earlier this year. that impacted his favorite product. his mom has not bought them since because she's worried about it there was some manufacturing issues and stray items in there. are they safe to eat is everything that's on the shelves now perfectly fine

>> they are absolutely safe eat. at tyson foods, we take food safety r very, very seriously. we sell billions of pounds a year and we want to make sure our consumers get the healthiest product. >> to tyler's point, am i getting from a different product line >> everything is gone. you need to understand these are very, very small in the scheme of our total production. >> last quick trade question are you -- your ceo said 70% of protein will happen in asia over the next five years. are you being impacted by these trade skirpishes >> we're seeing our export volumes grow, but we'd like to see our government officials get these trade agreements behind them so we can get back to increased growth you'll be aware of the african swain fever is going to drive tremendous demand growth across the world. going to go somewhere else >> thanks very much.

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lots of buzz in the sports world. really around my house too about the nba draft kicks off at the barclay center in brooklyn tonight. here with more on the big money at stake and the state of the league is mark tatum, nba's deputy commissioner, cheap operating officer, he'll be announcing the picks in the second round and he joins us for a "power lunch" exclusive. >> it's great to be here >> you all have come off on exciting finals series the ratings were actually higher because so many canadians watched. >> it was a historic finals for us, obviously our first finals outside of the united states, and as you said, it set a record for an nba game in terms of viewership, almost 60% of canadians tuned in to some or all of our nba finals and it was actually the highest and most viewed program in all of canada this year, so it was just an

incredible, incredible event >> which should tell the league that the league can survive a lebron-less playoff. >> there's so much talent in this league, tyler, and it was on display kawhi leonard and kyle lowry and sergio ibaka and obviously steph and so much talent in this league >> let's get to the draft tonight and i want you to tell us one through six who's going where. but you know, what the draft points to is something -- point i've made before i think the nba, as much or maybe even more than the nfl, has become a year round league and sports obsession you've got the draft, then you're going to have the free agency window, then you're going to have the summer league then soon again, we start all over. >> absolutely. it really has become a 12 month of the year property i would say this draft, we talked about the amount of talent in the nba, what the draft is, it's a welcome to the next generation of nba talent and many people are calling this draft transformational i can't predict who the top six

will be, only our teams know who they're going to select but i will tell you that the talent will be deep >> we're looking there at the projected top picks. the talk of the town is r.j. barrett, "the post" just perfectly -- they said, perfectly suited the knicks must pick him this is consuming all the oxygen in the room but how much of the air got sucked out when kevin durant got injured that's going to cast a pall over next season, isn't it. >> so unfortunate. a player like kevin who is an mvp in this league was having such a great, you know, playoff series until he got hurt, then he comes back, he gives it his all, and he gets injured again everyone was heartbroken about that >> yeah. and now, like we were saying, isi mean, you lose a major narrative for watching next year and all that real quickly, mark, on the chinese expansion which i know you guys have been so big behind for the wnba as well, i mean, does that seem a little ill-timed now with the way that the relationship between the

u.s. and china has gone or no? >> well, i have to tell you, with the wnba, han was the first chinese player drafted into the wnba, that led to a new partnership with ten cent to broadcast wnba games there ten cent is our partner in china as well as cc tv 5 and what we find is that the game of basketball actually brings people together and sports, and specifically basketball, given basketball's place in china, it's the number one sport there. it's really, i think, helping to bridge the gap between the different cultures of the u.s. and china. >> my son will be watching tonight. i will join it in progress i have an event to go to, i'll be watching where deandre hunter of virginia go mark tatum, thank you. >> thank you check, please, is up next. woman: my reputation was trashed online.

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check, please. >> welcome back, it's time for check, please. we were just talking about the nba draft, the media availability for the top prospects has already begun and that wasn't such a great feeling for goga yesterday who is seated next to zion williamson, the player with all of the attention in the back of the room and this guy who's from georgia, i don't know if he even speaks english, was sitting there so you now have had nba players reaching out to him after this was posted on instagram like dwyane wade seeing use it as fuel, draymond green saying he should look at this photo every day and grind >> builds character, i'm sure. >> i bet giannis was also

ignored, kristaps was booed. >> that's wonderful. obviously we're watching the markets here important day for the markets and the s&p 500 hitting a new intraday record high, highs in staples as well as utilities so a lot. >> very interesting week coming up it will be the end of the quarter. there will be a lot of rebalancing going on >> thanks for watching "power. >> closing bell starts right now. >> good afternoon, and welcome to the closing bell, i'm wilfred on the floor of the stock exchange s&p on pace for a record close that stock surging 55% on its first day of trade as a public traded company >> i'm sara eisen, we have breaking news. the white house holding a meeting with congressional leadership to discuss iran we'll have more on that shortly. first we want to tell you what is driving the action. a dovish fed driving stocks to record levels. treasury yields are falling with the ten year yield breaking a kele