what else could happen there as the capital and as the people leave. dolly, thanks very much. and that does it for the change today. i'll go join bill griffith for "power lunch" which starts now >> thank you here is what we are having new at 2:00 on "power lunch. stocks slightly lower right now, but still on track for their best week since june just 3% below their record highs. are we setting ourselves up for a september to remember? and while the market gets back on track, we're days away from those new tariffs going into ekt could the trade war trigger a global slowdown? we have a series of special reports on that. then later, hard seltser sales are spiking and that's helped sales of boston beer have its best year in nearly a decade the ceo will join us u coming up "power lunch" starts right now

here's where we stand today. the dow was up about 150 points on the open this morning, but that's been wiped out for the most part. the s&p driving into negative territory. the nasdaq getting hit the hardest, down about half a percent, but look at the staple stocks today been hitting new highs cal bell's soup jumping as much as 10% to its high es level in more than a year tyson foods, pepsi, both prints record highs today >> thank you, bill as stocks race back to highs, the countdown is on to new tariffs in a couple of days. bob pisani is watching that at the new york stock exchange. bob. >> hello, kelly. you know the markets lost some steam here after a broad-based rally this week. we're still higher on the week and only 36 stocks in the s&p 500 are down that's remarkable. a big win here the other 464 companies, they're all up just shows you how broad-based this rally has been.

here's the problem many see the rall y as tenuous and tentative. there's wide disagreement over how much slowing the school sees the strong possibility of a recession in 20 to now if that happen, earnings could drop 10 to 20% over 2019 we saw them drop 23% in 2008 the more bullish school sees geo political risks subsiding. that could mean earnings could be up 5 to 10% in 2020 this is a huge difference of opinion. remember, we're only 3% from historic highs right now so with all the urn certauncert, it's hard to aggressively buy stocks at this level that's why many believe despite the bounce this week, go long, consumer staples names and utilities, short cyclical names like energy and transports, that trade has work wel and will

likely continue to work well >> thank you very much president trump today tweeting about the fed, the dollar and tariffs. kay kayl kayla has more >> some of the president's favorite targets on a day when many aides are out of office in a series of tweets this morning, he express td envy for the weakening ur o, again blaming the federal reserve for a strong dollar. he then says quote we don't have a tariff problem we have a fed problem. end quote. and final ly, suggesting the fed should cut rates to stock market gains that only badly run companies are using tariffs as what he calls excuses. all familiar material to watchers of president trump's twitter feed, but it reveals his current state of mind on the economy and tariff deadlines and three fed meetings in between. today, china's foreign ministry

reiterated the two countries are in communicatiocommunication. the ministry spokesman said yet again the u.s. must meet china halfway. guys >> thank you very much >> all right a lot of uncertainty for investors as we wrap up this wild month of trading in august after all is said and done, the s&p is on pace to end the month down about 2%, but between trump, trade and the fed, there are a lot of head winds facing wall street right now and joining us to talk about that is ron insana only been 35 years >> and senior analyst here and burns. >> mr. insana. exactly. all of it could change as it has

in the past. >> we're not certain he'll delay anything beyond september 1st, so looks like those are going into effect and the markets handled that the china comments helping out this week. but a lot of mind fields going forward and interest rates are still low. even though the stock market has propped up a lot, you have the ten-year yield about 1.5 and then there's you know still other things going on with brexit as we've seen suspension of parliament, something that's not regular occurrence in great britain and presents problems for the eu >> the way been discussed with yields hitting record lows or near record lows and the stock market near record highs is that somebody's got it wrong. is that the case necessarily are the stock and bond markets tell iing two different stories? >> that's absolutely the case ch you have a bond market that's racing for recession and you know with stocks doing very well, there's the typical mind set when ever you have a

divergence is that people say the bond guys, they're the math guys and the ones that are going to be correct. but in this case, i think that you do have the signal that's been, the signal that the inversion shows has been muted d little bit by a couple of factors. one of which this is one of the first inversions post quantitative easing and so term premium s are less and it doesn' take as much to invert it. second factor, the bond market has become more global in nave in many ways, the interest rates in the u.s. don't fully reflect what's going on with the economy here as much they're tethered down by low rates elsewhere. >> they're the bond guys not like the stock market know nothings >> they don't do much math >> i can do the math enough to know the dividend yield went above the 30 year long bond. it is not 2006 or 2007 the it was 2009. >> march of 2009 >> correct

which was what the bottom of the bear market and the start of a ten plus year bull run >> $17 trillion worth of global debt yields, negative has a negative yield that's not a positive signal people are try iing to suggest there's only money flowing here because it's not there yeah, that's partly true but it's not true that's a positive signal for the economy >> does it mean that we have to be headed to a recession >> my base case has been a growth e recession but going below trend seems to be the case. now third quarter estimates are

at or around 2%. it's not the 3% that allows the budget to be reduced what do you hold if you're in a growth recession economy what does that mean for investors? generally, you gravitate towards quality, defensive stocks. that's been working in some instances. >> maybe too well. >> well, yeah, but for a reason. it adds up the crowd's right for a period of time. >> burns, what do you think? do stocks go higher? yields go lower as we go into what is let eets remember, t's e worst month of the year for the stock market in september. >> this is a market which stocks have had a couple of tail winds. the longer term one has been that you have investors from overseas pouring money into the u.s. in the form of a flight to safety and flight away from negative yields then the near

term factor, what seemed to be b a pause in the escalation of trade wars one concern we have is that the shorter term factor is something that can be reversed easily. investors should not confuse a pause in the escalation of concerns with any sort of progress towards a resolution. that tariff is something that could keep stocks at the least returns mute u and range bound we expect returns to b probably be a lot, they've been up, the market's up 15% or more this year, but probably be low to mid single edits over the coming months, which is really a good place for defensives dividend payers want a place to as well for reduced volatility in that type of market >> i would not confuse a 50% move this year with a bull market we've gone nowhere since january of 2018. it's been a sideways market. a lot of choppyness.

some volatility that's been substantial. we haven't done much you had to be a stock picker to win and beat the market in a meaningful way >> burns, ron, thank you both for joining us >> we have a market flash now. just moving higher and seema has the details. >> certainly is. shares are higher. jana is exploezing a 9% stake. in an sec file iing, partners acquiring shares because it believes shares are undervalued. it's also having discussions with the company regarding a sale of company divestitures, capital allocation and board composition. you can see shares are up about 7% >> thanks very much. now president trump can kicking off the long weekend with a bit of a tweet storm this morning. we told you b about his comments on the fed, but he also had words for general motors

>> he took a direct shot saying look, these guys are a shell of what they used to be he said general motors, which was once the giant detroit, is now one of the smallest auto manufacturers there. they moveded major plants to china before i came into office. this is done despite the saving help given them by the usa now they should start moving back to america then a little reality check in terms of what the president is is talking about. yes, gm is a smaller xhaen in terms of the number of plants it had in the u.s it currently employs both salaried and hourly. about 100,000 workers here in the yoits. compare that to 2008 when it was before, just before it went into bankruptcy it had a much bigger white collar workforce, but employed 92,000 here in the u.s. and a much bigger hourly workforce or comparable workforce in terms of hourly workers and in terms of china, general motors has been

moving not moving, establishing plants sold 3.6 million vehicles in china last year and most of those plants, guys, they're joint ventures set up in the '90s and early 2000s when it was required by china that you have a joint venture in china in order to sell vehicles there take a look at general motors shares over the last five years. we're pointing this out. the stock hasn't really been a performer, but in term of profit and losses, guys, in north america last year, they made $10.8 billion. you know how much they lost in 2007 right before the recession? $38.7 billion. it's a much more efficient and profitable company now >> all right and phil, while we have you, we talked to some tesla earlier, but the shares are higher on this exception from china's auto tax, so clearly ooempb though it applies to everybody, investors here are showing relief about this

>> it's good news for tesla. anything where you can remove a tax in a country where you're selling vehicleses, that's good news for china, it's b about whether or not they can spur greater sales. when you look at china auto sales, over the last 15, 20 years, they were moving higher and higher and higher then there was a downturn over the last 13 months it's the lit dip before the line there. that's because we've seen sales drop off the dotted line, that's the projection if the economy continues to grow as expected over the next several years. >> and those shares now are losing some gains. so now about 1.5% for all that said phil, thanks very much >> you bet >> coming up, taylor swift is planning to rerecord her old albums due to some bad blood with the man who recently bought the rights to those. will it bring in millions or alienate her loyal fans?

plus, hard settle ser is shaking up the spirits industry. the ceo of boston beer will join us to talk about that. that stock is up 80% just this year stay with us

2019 has been the summer of

seltzer. sales grew a whopping 164% from last year and accounted for 5% of the u.s. beer market according to bank of america will the sensation stay strong after labor day? joining us now is president and ceo of true laef, parent company, boston beer david. >> that's like saying that paul mccartney is the father of stella >> which is the more important oh, well, i won't go there so dave you guys now have a 29% market share are you trying grow that category further. >> of course that's why we exist. is to grow and so the brand has been growing as you mentioned, we tripled the brand last year and this year, we're going to come just short of tripling it again we're investing a lot this category has disrupted the broader beer business the way craft beer did in the 1980s. that's that much of a change for the category

so it's a gold rush right now. everybody is trying to get as much they can. >> i have been saying on the air that i think settle ser cierre is a fad that it will be b over in a couple of years especially when you consider how fast it's grown. i know you're going to disagree, but you have the tough job of trying to anticipate what consumer tastes will be like down the road and make investments in that. so you're doubling down on these. is that the idea >> right, but we're tripling down the you look at the two big trends one toward health and wellness efb's concerned about calories in this category delivers 100 calories on average. couple of grams of carbs, that's it the health and wellness piece is there. also, variety. we have a new generation of drinkers millennials, 21-35, who are drinking differently than the

people who came before them and they want something health iier but tastes great, hugely refreshing and something they can enjoy across multiple varieties. >> you mentioned the analogy with craft beer but i wonder if this is happening in part because of social media. we've seen a huge spike in mentions i was going to say rapidity in which these trends can spread and pick up. if that's true and this does cannibalize beer sales further, it's going to be pretty tough sledding for the core beer category, isn't it can this grow quickly enough where you can benefit from the upside maybe even though you're losing some of the again traditional you know got some o the downside there >> we want to go for double digits every year. this is what consumers are looking for. the good thing as it relates to the broader beer business, more than half of the occasions, the

volume, if you will, is coming from spirits and wipe. so we're seeing over the last several years where some of these traditional beer occasions have be have been lost particularly to spirits. with hard seltzers, we're bringing in back in. we think of it as beer because it's something you would drink on a typical beer occasion >> how are the margins >> pretty good they're about the same the one thing that makes this category different is that people love buying variety packs. like a 12 pack with multiple flavors in it and to produce that is more complicated than just producing a 12 pack of beer but we're on that and making investments to deliver that. it acts more like a traditional nonclick beverage. people want big brands that are popular with lot os variety to have lots of different occasions. that's where hard seltze are r is playing now we're trying to understand the

consumer and keep innovating to make sure we're giving them what they're looking for. >> it's fascinating that what you said, this trend unlike th move to spirits, if regular beer sales are going to decline, at least you guys can directly benefit from this trend. where does that leave you on cannabis investments do you continue to look at options there? hedge your bets? >> yeah, i don't think we have $4 billion to invest in a cannabis company, but right now, we're happy to grow double digits with the portfolio we have we think it's really well advantaged, but having said that, we're looking at cannabis developments we're not going to be the first one in, but we're going to study and learn and at the right time once the category develops hasn't been developed yet. we'll play at some point down the road >> i'm about to have my first sip. >> have you ever had one h. >> never >> i'm going to have one with you.

>> what are you having >> pineapple >> i'm having lemon here >> good. cheer, here's to you cheers >> it's not very sweet >> not very sweet. >> so, very light and refreshing >> yes thanks, dave >> thank you very much >> dave burrwick of boston beer. are they going to change it to boston seltzer >> depending on how that category grows >> coming up u, two big news events we need to be watching. first, hurricane dorian. it's now a cat 3 heading for florida. it has the potential to be the strongest storm to hit florida's east coast in about 30 years and those new tariffs set to kick in on sunday morning. will it start a new round of trade tensions what will the global impact be we've got it covered for you on "power lunch." cheers

hurricane dorian has been upgraded to a 3. could be the most powerful storm to hit florida's east coast in b

about 30 years going back to andrew kaitlyn is spend iing the day wh us here and has the latest on the path for us right now. >> hi there, bill. that's right, dorian now a major category 3 hurricane with sustained winds at 115 miles per hour and dorian is expected to strengthen through the long holiday weekend. right now moving to the north and west at 10 miles per hour, but it's expected to make the hard westerly turn towards the bahamas, towards the coast as we head towards the start of next week l let's take you through the next few days it is expected to rapidly intensify through the next few u days eventually becoming a category 4 storm as it does approach that florida landfall now it has slowed down quite a bit. it has going to be a very slow mo moving storm it gives the people there more time to use the time wisely. the bad news, it is going to bring the prolonged period of

heavy rain and storm surge through tuesday morning but we'll feel the impacts earlier than that. still expected on tuesday, but that could change. still a b possibility that it could stall out an hang over the ocean a little longer as we head towards the start of the week so our big e concern, the storm surge, the heavy rain and highed >> thank you we'll be checking back with you throughout this day. time now for trading nation. mike, it's all yours >> thank you very much the stocks that led the market on the way up have led it on the way down facebook, citi, ge, under armour some of the worst performers in august can any of them recapture their former dploir in september

peruse iing this list, what stas out to you a loft these trends broke b ben or buying opportunity sns. >> so mike, the stock that stands out is facebook i'm not ready to defriend facebook here at this point in time while the stock is only up b about 3.6% over the last 52 weeks, there's a lot of fundamental overhang on the shares, i would point out that stock has been starting toput in a series of higher highs and lows and you can see the uptrend off those january lows still remains in tact at this point in time if this stock can continue to push ahead, we're setting ourselves up for a retoss back to the old highs at about 219. so less than 20% upside from here that's something i would be trading at this point. >> steve, no real china business and the regulatory story at least hads gone quiet for facebook not sure if that wone fits into where you're looking in terms of growth stocks to be positioned through the end of the year. >> at the risk of being too harmonious, we come from a

similar place and a different angle. when we think about the list of stocks you mentioneded, we think growth the still works here. when you look at facebook, you've got double digit earnings growth that looks to continue. so yeah, you've got to regulatory overhang, but as you look forward, you've got the advertising spending that's coming with the 2020 election. 5g and it's still the place to be with over the 2-billion users. so out of that group, we think it's the one with the best position and we own it and across our growth portfolios >> still a ways up to get back to the 2018 highs for the stock. who knew we would be using the coming election as a bullish point for facebook stock see if that plays out. thank you, craig and steve for more trading nation, head to our website. back to you. >> all right, thanks very much and ahead on "power lunch", president trump's tariff threats are about to become a reality. what ripple effects will they have on the global economy we'll break that down for you next

plus ulta having its worst day ever we'll tell you the surprising reasons why and swift returns. taylor swift's album shattering industry records but she's in a fight to try to take back control of her old music we're going to talk about that move when "power lunch" returns. so ...how are you feeling?

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here is your cnbc b update russia releasing video of a nuclear capable missile. this comes after government

forces intensify their offensiv over recent weeks capturing rebel he would areas in the last major rebel stronghold in the country. and back home, health officials say a mysterious lung illness associated with vaping have been reported as of august 27th, 215 possible cases have been b reported more are under investigation and a 16-year-old swedish climate activist demanding that world leaders do more to protect the planet from climate change she is scheduled to speak at a u.n. climate summit next month >> that's the update this hour back to you. >> thank you very much let's get a quick check on the markets. the dow off its highs of the day. it was up 150 plus points. now it's just a fractional gain. the nasdaq and s&p have moved lower and take a look at the ride hailing stocks today. uber down about 1.5% hitting its post ipo lows.

lyft not much better within about a dollar of its own post ipo low >> wow 32 for uber amazing. we've got a news alert on boeing out to phil lebeau for that. >> take a look at shares of boeing they dipped just a little bit over the last couple of minutes because the faa has issued a statement essentially saying that the joint authorities technical review panel, i know t a mouthful, but that's a panel made up of nine safety regulating agencies around the world. the chinese aviation authorities, canadians, european, faa. they've been reviewing the safety specks and certification process of the 737 max and they said you know what, we need a couple r more weeks as we document our findings and we expect within the next few weeks that they will issue their report on the 737 max. the significance of this is that the gatr, that report is going to be one factor that the faa is

going to be looking at as they consider whether or not fixes are enough and the plane is safe to play. dennis muhlenberg said he expects it early in the fourth quarter. back to you. >> yes, but it comes on a day when united delays the return of the max december 19th. what's going on here two different stories. >> bill, we're now to the point here where we know they're making progress on fixing the max. the question becomes how quickly does it get recertified then how quickly can the airlines put it back into service. we did a story with the head of scheduling with american and he said look, you can't flip a switch can't say all right, put all 24 of these back in the air you need several weeks what united did was say we now think that by mid december, this plane, it will be certified. we're ready to put it back into

service. so we're in this period here i suspect over the next few weeks we'll see more reports like this more headlines like this regard ing the max. >> thanks very much. now the clock is ticking on trade. president trump's september 1st deadline rapidly approaching just hours away. if the trade war reignites, what will it mean we've got steve liesman looking at the potential ripple effect steve grasso delivering a trader's take and rick santelliy watching bond land steve, start with you. >> yeah as the fedor worries about global economic weakness, it's finding out just how connected this world is weakness overseas having important effects in the united states take a look at these key gauges of manufacturing in china. they've fallen together. the u.s. pmi is from around 60 to around 52 growing though, but china's manufacturing index has dropped from just below 52 now in contraction territory around 49. what's happened to china

that also effects what's happening in germany china's imports are down year over year. that's starting december a few mobts before that, exports from germany wednesday nelg. some strong trade and economic connections. let's move on. that could hurt germany. yeah, in turn, part of europe's concerns all this washes up where in on u.s. shares. yesterday's gdp data showed that data on the president obaositivy subtracted .7. the past four quarters have seen two since the great recession. good news. u.s. has held up well. cnbc's rapid update running up 2.1% ch up a tenth today because of strong july consumer spending but the links are there and if other economies worsen, u.s. unlikely to be this is the time of day on fridays we get the weeklies from the economists their big thoughts just got the first one from

oxford title. the consumer can't do it alone >> and after the sentiment number this is morning, you hope they can continue to do it period >> yeah. >> thank you we're think iing the big thoughs now a a thought that august was a rough month here in the u.s., think again. investors pulling around $14 billion from the emerging markets and seema has more on this >> this is notable because in a low rate environment, the talks should outperform. this combination of the u.s. y china trade dispute weaker yuan and stronger growth that's triggered $13.8 billion marking the worst month since 2016 massive outflows comes as hedge funds have been increasing their exposure in 2019, both long and short positions according to hfr and analysis shows they're one of the top holdings as of june

30th the underperformance is pretty much across every region broad ee eer china due to arcge' debt retrux plans and today, s&p cutting the south american nation by three notches to triple c minus for a selected default. really getting crushed this month down over 40%. now invesco says going forward, they expect more investors to become selective finding specific countries with good fundamentals with a stable environment to invest in versus owning the broad er etfs. so that would be an interesting thing to watch for >> thank you rch so where's the best place to invest u.s. or internationally. bringing in steve now, "fast money" trader and director at stewart frank l. welcome back so many money managers have come

through here and said emerginging market, they're due for a rally of some kind they've just suffered so much. and still, they're, the market that's been left behind. do you look there yet or stick with what you know in the u.s. >> so eventually, those money managers are going to be right there's going to be a better opportunity somewhere else sometimes on wall street, when you're early, bill, you know this better than anyone, you're wrong. so if people have been investing there, they've been wrong. so steve liesman just opened up saying about a lot of the domino effects that are happening globally seema touched on how much money is coming out of emerging markets. that means it's coming out of there and it has to go some place. these money managers are paid to manage money not watch markets. the money is still coming here we're still the best house on a block that has slowing growth globally and that's probably the way it's going to stay for quite

some time. >> the u.s. market has been positioning itself in a very defensive posture. understandably so. as we go into the new month here and again, i'll repeat the old saw that september's traditionally the worst month for the stock market in the united states even though a lot of traditions have been b falling by the wayside the last few years, but do you go with the strength in this market or start looking for value opportunities. what do you think? >> so, im in the chemical space. so i've been early there i am wrong so i've been wrong and i do believe that that's going to be the rebound trade of the catch up trade and i don't know, i think dudley, everything we've discussed on every desk and trading flor floor in the last week or so, opened up the possibility and tony said this on "fast money" for the fed to have covering, go 50 bases points this time around. that was not in the cards prior to dudley. i think they have now, they'd

have to prothey're they're not against trump and they aren't a political body or agency so i think it opens up 50 basis points if it happens, bill, trump has cover to kind of wait until the new year until we're closer to the election to get a deal done. so while you could see softening headlines on trade, he doesn't need it necessarily, need a deal before the year is over. if we get a deal before the year is over, you could see 3,000 in the s&p very easily. we're right there. you could see 3100 i've looked at some technical retracement levels that gets me to b about 3085. that would really steal the heart of bears which has alread been stolen. >> so machiavellian. >> and then that's right, i try

to add something for you, kelly. it's very highbrow for you and bill so i have to be on my toes ch. >> as well you should. >> steve, thanks very much let's get over to the bond market now where rick santelli can weigh in with action at the cme. rick >> i tell you what august has a big history attached to it because the first three charts are historic. look at the shots europe, month to date chart. it's through minus 90 approaching 95 never been there before. italian ten year just think about the italian economy. it's under 1%. look at 30 year bonds. they started out the month above 253. they're now under 2% intraday of the doll alreaar inx it is surging. best level since may of 2017 which means the next chart euro versus dollar, it's a month to date, but it's also at the lowest level since 2017. and all of this brought about

because we're the bas yan of proseccotive rates and tsunami of foreign investors bill back to you. >> how much longer we had a full mince minus 11%. >> i think it's coming quick should be there in a couple of sessions >> incredible. just incredible. thank you, rick santelli and coming up, lions gate shares hitting their lowest level since nuy jaar2012 we'll explain why next at fidelity, we believe your money should always be working harder. that's why, your cash automatically goes into a money market fund when you open a new account. and fidelity's rate is higher than e-trade's, td ameritrade's, even 10 times more than schwab's. plus only fidelity has zero account fees and zero minimums for retail brokerage and retirement accounts. just another reminder of the value you'll only find at fidelity.

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welcome back we have a market flash on lion's gate >> by those shares down 7%. off about 9% comcast told them they plan to drop starz comcast, b cnbc's parent, is responsible for about a third of starz' subscribers and they accounted for more than two-thirds of profits last year. both companies, no comment, but sources say this could be seen

as part of negotiating tactics ahead of their contract expiring at year end but the headlines and the stocks dramatic move now down 6% speaks to the pressure on pay tv providers to halt their growing costs and putting pressure on smaller companies such as lions gate to lock in their contracts. they were in talks to potentially sell it to cbs >> thanks. taylor swift's new album is the best-selling since those last two now she has a plan to make the same old music new again and stick it to a record executive does she just need to calm down and shake it off "power lunch" will be right back ♪ ♪♪

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will it change the face of the music industry joining us is bill wordy of syracuse university. bill, when i first heard this, my confusion was as to whether she's trying to make the songs exactly the same and kind of supplant the existence or just going to be difference versions and hope people forget about the old ones >> i think different versions. taylor shows ability to be problem solving throughout the career and if she does wind up recording new versions they wind up being different takes on the versions that fans will snap up for sure, will listen to, for sure the fans as loyal as anyone's in the business believe me, my twitter feed after writing that column for "billboard" is showing that. i don't see them replacing the original versions. keep in mind, some of the huge hits she wrote when she was like a freshman in high school and now a 30-year-old worldly woman.

she sings differently. she has lost the sort of adorable country twang. >> i joke she's the villain of her earlier songs. >> you could say that a little bit. >> you're the -- you know, the cheerleader. >> back on twitter again okay. >> yeah. i mean, that's -- changed. >> - >> my contention is this is the first salvo in negotiations with scooter braun. she'll never re-record the old stuff but wanted to settle with him, maybe even take control of her own albums she recorded. what do you think? >> yeah. that's kind of my hope has a long time observer of the business and someone with the pleasure of working with both of them scooter's one of the smartest, visionary executives in the business taylor is one of the smartest, most visionary artists in the business and i think what's best for both is to figure out how to patch this up and get along. but there are some i think very deep-running personal sentiments

here the longer it goes on the harder for taylor to back away and save face that saying it's possible, right? taken on streaming services before and usually the way to dress it up is they come up with a solution that actually benefits someone besides just taylor swift if there's an outcome that results in her not recording her songs again, there's some money dedicated towards other independent artists, something like that. >> animal rights. >> yeah. >> i'm curious if we might actually see this be something of a trend now and does this successfully now, you might get other people thinking about, wait a minute, i want a bigger piece of the profits billy joel was a name that came to mind earlier. are there more artists we might see do this? >> there's more art iists to se do this. i don't know it's part of a

massive trend. right? re-records haven't done that well fans have the originals, in love with the originals the versions they first kind of came to know that artist through so you haven't seen a lot of success and what they do is drives up interest in the original catalog and doing this i'm certain those re-records do well and then may actually help scooter's bottom line. >> bill -- >> i don't - >> we have to go live television. you know how there is. never enough time. >> i do, i do. >> thank you for joining us right now. i'm a big fan of lobo. he re-recorded all ohif s one hit and wasn't the same. "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.

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a man in tennessee suing popeye's chicken because he tried to find a new chicken sandwich he's accusing them of deceptive business practices. the quote is, i can't get happy. i have this sandwich on my mind. i can't think straight he wants $5,000 in damages because apparently he hit a pothole and damaged a wheel rim in search of a popeyes chicken sandwich. >> good luck to him and "jeopardy" host alex trebek saying that the treatments are over and back at work taping the new season of the game show. he was diagnosed with stage 4

pancreatic cancer five months ago. in this video he says normally the prognosis is not encouraging but i'm going to fight this and keep working i plan to beat the statistics for this disease. >> we certainly wish him well. go get them. >> absolutely. thanks for watching. >> "closing bell" right now. good afternoon welcome to the "closing bell." i'm wilfred frost. i'm here at the target post, best performing stock in the month of august up some 20%. broader markets down 2%. it is a volatile month of course, going into the final hour of the day, the week, the month. >> welcome, everyone i'm sara eisen let's look at what's driving the action higher today. china's foreign trade minister says negotiations are maintaining effective communication but the latest round of tariffs on chinese goods is set to go into effect on sunday and encouraging economic data today with the consumer, u.s. consumer spending up .6% in the month of july.