giving you a nice big edge over your competition. that's the power of edge-to-edge intelligence. smile direct headquarters in nashville, tennessee 11:00 a.m. on wall street. "squawk alley" is live ♪

♪ good thursday morning. welcome to "squawk alley." with morgan brennan and jon fortt at the new york stock exchange we watch the markets being whipped by some of the trade headlines. >> we also have two big ipos in focus today as well. we await the first trade of smile direct club. let's bring in bob pisani to talk about that and overall iep landscape. >> we heard valuation is not there, does this mean the ipo market is overrated. slack, first earnings report, growth wasn't as strong as people thought, not a good idea, growth is not as strong. some software companies, now

there's jitteriness. this week we had three big names, all being upsized waiting for smile direct to open 19 to 22 pricing at 23 looks like and ten x genomics. upped it to 38 it opened at $54 talking little more than a week ago, 31 to 35. we open at $55 a gene sequencing company, biotech is a hot space overall we wait tomorrow for cloud fair. another software company, out there, website security and other things, was 10 to 12, 35 million to 10 to 12, now 12 to 14 i guess the point is yes, there are concerns on valuation, particularly on software, but the market is acting like it

still wants this stuff in general. >> speaking of which, get the latest, bertha coombs watching for opening trade on the nasdaq. >> we don't have opening price, they priced at $23 smile direct is a direct to consumer company with clear aligners this is a crowded field, however. they're focusing on the american market you have other up starts that are trying to do the same, going directly to customers, trying to bring the price down for people that need mild alignment, not folks like me that actually need the metal braces as well they're trying to disrupt an area pioneered by companies like align technology which is a parent company of invisalign part of the struggle is they

looked to expand to china where they thought there would be tremendous demand but between moving production and trying to expand to that market, they've run into head winds. this is an area where a lot of folks are very interested in this, jim calls it a selfie market, a lot of folks prefer to see smiles be just that much better when they're doing selfies. nonetheless, very competitive these days for the nasdaq, the 50th health care ipo last year had 54, raising about $6 billion last year with 54 deals, raised 4.5 billion. not only seeing greater demand, they're raising bigger sums. health care ipos have done pretty well, among some of the best performers in the nasdaq,

adaptive sciences had some of the biggest pop on its day but a number of them now are up over 100% since having gone public this year back to you guys when we get first trade. >> bertha, thank you waiting thefirst trade smile direct club, offering price, $23 bob, whether it is health care, security, fitness, you look at the different ipos, that is emphasis on tech. >> they're all tech companies. and in a sense they are. you can see with weworks, some are less tech than they really are. it is important to look through all of the claims, see what's going on look at the pipeline we talked about a potentially all time record year in february and march. maybe raise 100 billion. all time record in 2000. we're close to -- not going to make it this year, but we'll raise a good amount of money,

might be the second or third biggest year look at the ones out there where is airbnb with some are saying they'll push it out. pelotons is coming casper, the mattress company, and biggest of all time, aramco will list in saudi arabia. cole hahn, i love them and mcafee, anti-virus company is out there as well there are some brand names to go, and overall i would say this is a darn goodyear we' -- good year

we are getting unicorns at least. >> bob, how much is bankers having gotten more rational, how much is the market welcoming these ipos, regardless of whether they make money yet or not. >> the important thing is look what happened with software companies. you have companies out there that are expected to do well because they grow fast slack, had a good report last friday the guidance wasn't as strong as people thought and immediately stocks in that space dropped remember we had that freak out on monday, everybody said hey, what's going on here well, that's it. when you've got companies whose prices are based on strong growth prospects, you live or die by that and acted rational, repriced correctly you can say you're a technology company, when you're a real estate company with long term lease obligations and selling short term obligations out there, people see through that immediately and they start

adjusting valuations the market is acting rationally. let's get the companies out there, ten years sitting there, private venture backed is enough jay clayton made a point this week, he said we have to figure out how to get companies to go public faster and find a way for individual investors to potentially invest more in private equity both sides of that point. >> one initiation of peloton look, it is a tech company to large extent it is also to an entertainment company. it is carefully integrated with the experience of being on the bike here's a company, we make fun of what they claim to be, long list of things they claim to be, there are elements of that at heart, it is a fitness and

ability to create a community. if you can do that, lululemon said who will wear that at those prices, turned out it was a huge community of people wanted to do that there's a community of people that want that intense workout that's out there i think it is terrific. >> every day seems there's another question, another ipo to talk about bob pisani, thanks for joining us shares of oracle are lower this morning after reporting earnings a day early and announcing that the ceo mark hurd is taking a leave of absence for health reasons >> we asked for more information on the news. what is this illness, how serious is it, is there a time line for return. the company declined comment the founder and chief technology officer will handle hurd's responsibilities, along with the other ceo. the company struggled more than

a year with when and whether to disclose this illness, and most of the marketing team has been placed under ellison in a statement, he said though we worked hard together to close the first quarter, i decided i need to spend time focused on my health he was named ceo with katz he has overseen sales and marketing. no doubt, oracle boasts a deep bench of experienced, well respected leaders. but hurd is the executive front and center, laying out strategy and vision as the company continues its transition to cloud computing software whenever i interview him for cnbc, it is clearest a very tough competitor, aggressive champion for his company oracle shares under pressure following the surprising announcement after the company reported on sales that undershot expectations, on the call last night, analysts didn't ask how hurd's absence would impact them

going forward. i caught up with jack andrews who covers oracle. he says this is significant because hurd is a talented salesman with strong relationships with big corporate customers, and cios of the companies that decide whether to spend millions on or cacle's programs the co-founder, ceo of smiledirectclub will join us a big day for ipos continues on "squawk alley. 10xgenomics co-founder will join us, insurgent saxonov. will join us go get 'em, bus! ohhhh! [laughing] c'mon bus, c'mon! hey, wait, wait, wait!

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alley. 10x genomics surging after debut at the nasdaq. you can see the ipo price of $39, it is trading at 56.71. up about 45% in first trades joining us first, the co-founder, ceo serge saxonov. congratulations on going public today. >> thank you. >> in terms of 10x genomics, the company itself, gene sequencing, start with viewers a little about what that specifically entails and what part of the gene sequencing market you're focused on >> so really our foundational

premise for the company is the world understands very little biology. there's way more to understand in the future. our goal is to enable this understanding to ultimately advance human health figure out things like addressing cancer, infectious diseases, alzheimer's, and our goal to become really good building tools of technology to enable scientists to do amazing things to advance our understanding of biology >> i want to get into your vision for the future in this market in a moment first, as my colleague pointed out, ilumina, biggest maker of ts machines, is under pressure i realize that's not what you're focused on when you look across the sector, how would you gauge health >> there's a lot of excitement they had a little bump in the road, but the future looks

promising. when i look at the long term, which tends to be my outlook, i have no concerns at all. >> serge, how big is the market? how many institutions, companies are going to be doing gene sequencing, have a somewhat predictable need for the tools >> initially our focus is on research and discovery there's hundreds of thousands of biology labs around the world, each of them is a potential customer that's the initial market. think in terms of academic research and bio pharmaceutical temperatures ultimately all of this will move into the clinic, enable new cures and new diagnostics and advance human health in fundamental ways >> lot of focus on the federal budget, what the fiscal year 2020 numbers look like the fact that this sector tends to be influenced by nih spending, what are your

expectations for next year and beyond >> so as far as we're concerned, that tends to be less of a factor for our business just because there's so much demand for our products sort of the fluctuation tends not to have much effect, there's lots of other sources of funding looking to the future, many other avenues where the special bio pharmaceutical industry really does not have much an effect. >> in terms of the future, when you look at this technology still and this industry in early days, what do you envision that looking like and application of gene sequencing looking out 5, 10, 20 years. >> we look at what are the big health challenges in the world my ultimate ambition is we want to enable new science to cure cancer, to as i address parkinson's, alzheimer's these tools, these technologies

will absolutely be essential and crucial enabling that. i think in terms of future opportunities, they're massive >> serge saxonov, ceo of 10x genomics the company went public. it is currently up 45% thank you. >> thank you and turning to another company that had an ipo not too long ago, uber not core to our business that was the uber chief legal counsel tony west on the company's drivers arguing that uber wouldn't be subject to the reclassification required by the california 85 bill this would cause uber to have to classify drivers as employees versus contractors big challenge to their business. business insider henry blodget joins us to weigh in henry, when people say i need to get an uber, they're not saying i need to get a broad technology

platform capable of many different things, they're saying a driver with a car. so what are they talking about. >> point a to point b, this is one of the ludicrous legal arguments that's comical from a common sense perspective of course the drivers and driving experience of transporting you is core to the business, that is the whole business if it is a bad experience, no one will use it no matter how great the technology is. it is ludicrous. i think the general thing going on is that this is california's approach to this phenomenon we're seeing again and again, which is technology companies are increasingly focusing on one value point in the overall chain. they are taking the lion's share of value for themselves, and small group of shareholders, and leaving in this case tens of thousands of people with 9 to $16 an hour and that's all they get. they don't necessarily have to

be employees, but if we want the economy to work, we need to share more value with people that do the work. >> i understand what they're doing, they need to mount a legal argument, have a hedge do you think they have reputational risk here because this argument sounds like travis kalanick uber, arguing to get its own way, more than it sounds like the new enlightened love the drivers, help everyone uber. >> huge reputational risk. that's why they started to get in front of it by saying hey, we're going for minimum wage of $21, provide benefits, sick leave. but don't make us make them employees yet because that comes with other things. if they do that, that's a good, positive step. $21 an hour, if that's the actual wage you get after all your costs are factored out. okay not a living wage in california in certain places, but certainly better wage than 9. >> don't you think this is

getting -- you use the example of regulation in california and uber and lyft. you used the word platform don't you think it is getting at the bigger, broader debate around tech and regulation now anyway this idea, whether it is uber or airbnb, facebook, this idea of we're the platform, we're not responsible what's happening with the use of the platform. >> this is silicon valley mantra it is why the silicon valley and new york in particular media market, it is like oil and water. hey, we're just the telephone company. you do what you want we have no responsibility for that and what's happening with all of the companies like facebook and others is the companies are realizing actually we are responsible for what happens so in this case to jon's point, this is a holistic service being offered. no issue with hiring people to do part-time work, they don't have to be full-time employees, but ultimately more value needs to be shared with people that do the work. >> if you're a believer in the long term plan, that the driver

really is extracted from the process, maybe it would be true then, one day. >> it is a ludicrous dream that in a few weeks or months we're going to wake up and not have any drivers because it is all self driving this is decades away, except in extremely limited close circuit things where it is a bus that does exactly the same. the idea that cars are driving all over the place in a few years, it is so far off, we don't need to think about it >> i would argue the other side of it. if drivers weren't core to the platform, they wouldn't need to automate, wouldn't make that much difference. >> a ludicrous argument, maybe technically legally they make it and avoid doing the right thing. >> my question is, probably nearer term than automation, if it pushes prices higher, is there a tipping point consumers don't want to take uber or lyft or other ridesharing. >> based on what we've seen in the past, price is a factor,

does effect demand, i would respectfully suggest there's a lot of value, people love uber and lyft, there's a reason it took over. modest price increases, maybe there's impression of demand, but it is way more convenient than old world where there were few taxis, never there when you wanted them, you had to call thisks >> good to be here we're awaiting first trade for smiledirectclub, both the cfo and co-founder join us next after that stock opens stay with us - stand up if you are first generation college student.

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got some news and walmart, expanding what it calls unlimited grocery delivery service this fall, for 98 a year or 12.95 a month, shoppers can subscribe to receive unlimited grocery delivery to their homes, typically stand-alone delivery is 9.99 at walmart

shares enjoying a big day, up a half percent, close to all-time high of 25% for the year >> yeah. grocery delivery getting more and more real. meanwhile, getting news on at&t. jul jul julia boorstin has that. >> at&t cfo warned about more declines in the video devision, due to lengthy blackouts, price increases at a merrill lynch conference yesterday afternoon he expects them to lose 350,000 more video subscribers third quarter than it lost second quarter, forecasting decline of a million subscribers in the quarter. they expect warner media revenues to decline by $400 million from earlier he also responded to the

activist taking a stake, saying i feel strongly the current strategy is the best way to create value, and saying he and his colleagues look forward to meeting with elliott to discuss ideas. morgan, back to you. >> thank you european markets set to close in asea mody has today's overseas. >> big day in europe mario draghi cutting rates into negative territory by ten basis points, and restarting quantitative easing by 20 million euro bonds every month beginning november european stocks with today's gains, 1.5% away from 50 two week highs a couple of notable reactions, they say the ecb has put all instruments on the table in what could have been the final solo attempt to restore growth in the eurozone adm says draghi bows out with another flourish of beating

market expectations. looks more so after the ecb move this package wouldn't cure europe of problems, and fiscal policy will be of importance >> view of weakening economic outlook and continued prominence of down side risk, governments with fiscal space should act in an effective and timely manner >> let's take a look at the eurozone currency, it is higher now, 110 against the u.s. dollar, and notable consumer names moving today guys, back to you. >> thanks so much. let's get to sue herera for a news update at this hour good morning, sue. >> good morning, carl, good morning, everybody here's what's happening at this hour on capitol hill, the house judiciary committee is adopting procedures for impeachment investigation into president

trump. >> we have been explicit about our intentions, this committee is engaged in an investigation that will allow us to determine whether to recommend articles of impeachment with respect to president trump. >> the judiciary committee has become a giant instagram filter to make you appear that something is happening that's not. it's really interesting. i hope he'll come back at this, the difference between formal impeachment proceedings and what we're doing is a world apart, no matter what the chairman said. 145 executives from uber, twitter, levi strauss and royal caribbean cruises signing a letter to senators, demanding they pass stronger gun control laws they call gun violence a public health crisis which demands urgent action. you're up to date. that's the news update this hour back downtown to "squawk alley." carl, back to you. >> sue, see you in a while. after the break, godfather of reviewers, walt mossberg

talks about his biggest take aways from the apple entve don't go anywhere. back in less than minutes. [ applause ] thank you.

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apple reclaiming that $1 trillion market cap days after the event tuesday, between the new phones, a.m. tv watch and arcade, we have a lot to get to with our next guest. joining us, recode co-founder, walt mossberg.

great to have you back good morning >> good morning, carl. >> we mishearing your take immediately following and during give us a sense what you thought they came up with here >> i don't -- i think it is still iterative, they didn't have a giant like new thing that anyone thought of or heard of, but i think they did what they had to do. they caught up and for all i know once the reviews are out, we'll find maybe they went ahead a little on the camera stuff, which they had fallen behind google on a little bit they certainly came on strong on that, spent a lot of time on that the phones while derivative of iphone x from 2017 looked good

and have much longer battery life if the claims prove out to be true, that's a good thing, and then you saw this weaving of services into the hardware which has been a theme you have been reporting on and all of us have been reporting on for a long time, but you saw it in real life they came out with their two services at a much lower price point than i think people thought they would >> i wonder why? what do you think is behind the pricing strategy does it reflect the fact that they're new to this game or that there's already some well established players? what >> i think it reflects the fact they have enough money to do this, i think it reflects the fact that they don't have a big fat catalog, at least on the tv one. they seem to have some what look from trailers like impressive shows, but there's only nine of them, and they can't really

charge a ceiling set by disney at 699, which does have a big catalog, so 499 makes sense. the other thing you have to remember, i know you've all talked about this in the past is that for apple, unlike a content company, pure content company, these are ways to sell more devices and keep people in their ecosystem. even if they lost money on the 499 on the arcade game service and on the tv plus, even if they lost money, if it helped them sell existing customers, get more customers, that would be key. >> walt, as somebody who has certainly dug in, done lots of reviews, looked at tech over the years, as a consumer, if you were consumer of the iphone, would you be incentivized to buy another one based on what you

saw this week, especially versus other competition and expectations that iphone will be 5g enabled next year >> morgan, that's a great question first of all, i am a consumer of apple products and i have been thinking about this the last day or so. i think i'm going to wait and see what my friends and most of them are my friends who are the reviewers of the products say about particularly the cameras and the battery life the cameras are really sensational, not just for pros, a lot of thing for serious pros, not thinking the name proon the thing, but for average people if the cameras are markedly better and battery life claims hold up, i might consider an upgrade. but my current inclination is to think well, they're likely to have 5g next year, maybe i

should hold onto my iphone x one more year until the 5g, but i'm going to wait for the reviews. >> walt, if you were still, if you hadn't retired, if you were still writing reviews, how would you go about reviewing these tv services, comparing them to one another, helping people to understand which one or ones make the most sense for them >> here's how i do it. i mean, i have to confess that i got this phrase from a pretty senior person at apple i talked to yesterday apple is trying to do, they think of it as being early hbo not many shows, not much quantity, but high quality that's what they're trying to do they're spending a fortune on each of the shows reportedly, and you can see the spielbergs

and reese witherspoons and all of the famous people they have going on there that's apple disney is aggregating a bunch of well known franchises, whether disney's own franchise or "star wars" or marvel, national geographic into a service and that's their thing netflix is like down, watch everything, that catalog, good originals, and amazon is somewhat more similar to netflix in that. and that's the way i would try to explain the differences >> finally, walt, everyone is trying to give advice whether or not they should emphasize phones or wearables, accessories. which of the two, the phone itself or surrounding products are the most interesting to you now? >> well, i think the phone is always the most interesting just because it does so much more, but i'm a big, huge fan of apple

watch, of air pods i have several pair of air pods which is crazy but i do. and i have an apple watch 4, i am thinking seriously of upgrading the apple watch because now it isn't just blank and i don't have to think about how to contort my wrist to see the time >> i agree i thought the series 5 was one of the highlights. we listen to you, walt, because you're walt and i'm not. walt, see you soon thanks for coming by. >> no problem. love to be here. >> walt mossberg. the fbi opening an investigation into a venture capital fund started by peter thiel. josh lipton has more on this story from san francisco josh >> reporter: that's right. they have been under fire with employee departures, questions around his finances.

recode is reporting u.s. officials, including the fbi, have been questioning people close to the firm, co-founded by thiel. he worked with him more than 20 years, used that relationship to raise over $1 billion. recode reports this is just the latest headache for the firm which dealt with internal tensions, declining morale and departures they moved the san francisco headquarters to austin two more managing directors left the firm recently. crystal mckeller, jim o'neal they posted a win when orrest health and invested into the data analytics company co-founded by thiel. this is an investigation, not indictment but thiel who gave $200 million is a member of the board a person that used headlines for smart investments, not because of fbi probes.

did reach out to the firm that provided the following statement. this is a foiled plot by a self serving ex-employee. there are no allegations from any government agency or any investigator, nevertheless, our attorneys are in contact with government authorities in order to protect investors, employees, and portfolio companies against extortion behavior guys, back to you. >> thank you, josh. still ahead. we're still awaiting their close up co-founder and cfo of smile direct join us following the first trade. that should be minutes away. hmm. exactly.

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what's up with your... partner? not again. limu that's your reflection. only pay for what you need. ♪ liberty, liberty, liberty, liberty ♪ coming up at noon, an olive branch on the trade fight. is that a green light for stocks to get back to record highs? who said stock picking is dead it is a winning strategy now we'll name stocks that should be on the buy list. and the big ipo to smile direct, they're going public should you buy it when it debuts today? we debate that and more at the top of the hour. right now, jon fortt, i will send it to you. sounds good. thank you. we'll get to news out of ibm, launching the newest mainframe this morning i talked to the head of systems this morning about that product. how it includes a security feature, data security that

tranforms data privacy arguably like invisible ink. >> they listed the most important things, helped us determine the most important things one of those was data privacy. they brought up instant recovery and cloud application development. the disappearing ink is a good analogy. we can encrypt data on and off the machine. if you choose, you can make that ink disappear when you want it to if you have a third party and you want to stop access, you do that remotely. you change your mind or a third party breach, cut off access >> reminded me of the cambridge situation, what may have inspired that. customers think about those things happening in the it can be an economic indicator. some of the most expensive

s millions upgrading main frames it is not like there's a lot of revenue growth in main frames but a lot of transaction growth. i had questions for him about particularly in europe how much that's going to indicate perhaps how the economy is doing there, something investors should perhaps watch. look, shares of ibm now down about a third of a percent the stock has been still up for the year, but what they really want to do is tie in the mainframe customer in the past, mainframe was seen as being vertical, walled garden trying to argue with red hat, open ship, you can now build applications that work across lots of clouds and systems you're not necessarily locked in. >> the bridge to more software i love the idea of mainframe as

an economic indicator. also what stuck out to me just now that you talked about, we talk so much about this bifurcation in big tech companies, between those doubling down like apple on the notion of privacy versus those that maybe aren't. but ibm arguably is in that privacy camp, right? >> i would say all of the enterprise players have their own privacy card that they try to play, main frames, it is not a growth business, by any stretch, but the companies that use it to schedule flights, you need that machine. security is important to you the question is can ibm use that sticky system, that mainframe, and leverage it across things like the new acquisition they spent a pretty penny on, biggest software acquisition and get the revenue boost from that. we'll see. we'll be watching the numbers. >> stocks beating the market for the year, not sure we've seen

too many years past on ibm continue to watch it. shares of groupon and yelp going opposite ways. yelp maybe an acquisition target for groupon among shareholder discontent groupon down and yelp up, 3% couple names we don't talk about as much as we used to. >> if groupon buys yelp, it would be weird yelp is still founder led, so if it is taken out by groupon, not seen as a category beater by any stretch, that would be odd we'll see what happens used to be in the newspaper business, knight ridder was taken out, strange things happen all the time >> chance to sell at higher

price. >> google, remember? >> a number of analysts floated the idea that groupon becomes a takeover target too, either way, m and a could be in play when it comes to those names we'll see. >> it would make more sense if iac wanted a piece of either of those. but i don't know. they already got their local strategy with angie pretty home services pretty tied up. but these two together seems desperate. i don't know >> all right, we'll see, we'll see how all of that plays out. meantime later today don't misml direct club investor draymond green. "squawk alley" will be right back eh, it just feels too complicated, you know? well sure, at first, but jj can help you with that.

jj, will you break it down for this gentleman? hey, ian. you know, at td ameritrade, we can walk you through your options trades step by step until you're comfortable. i could be up for that. that's taking options trading from wall st. to main st. hey guys, wanna play some pool? eh, i'm not really a pool guy. what's the hesitation? it's just complicated. step-by-step options trading support from td ameritrade

we are waiting still the first trade from smile direct club let's go to bertha coombs and see what is taking longer than some expected. >> a little longer than some expected and we don't have an official indicative price at this point the liner company, they did price above the range at $23 a share. the early indications have been per range between 19 and 22. they're going to open somewhere with around an $8.9 billion

valulation which really continues from health care companies and 50 now year to date and they have gotten higher valuation so far this year than we've seen on the listings last year even though we had more at this time last year right now getting about a five-minute warning, so we could see the first trade happen just before the top of the hour carl. >> okay. we'll watch for that, bertha >> that's strange for them to price above the range and then it looks like they're going to open within the range. seems like somebody messed up there. >> we'll definitely have to watch this as it plays out over the next couple minutes. meantime another ipo at the nasdaq txg which is currently about 42%. what is the sense there in terms of that company, bertha, now that it is trading >> yeah, i'm sorry, i misspoke if you misunderstood their original range 19 to 22. we don't have an indication.

>> no indications of that. >> i just want to make sure that i make myself clear. >> therapeutics and others priced above the range, as well had a very nice debut. they open in about 35, 40 minutes. just kind of what you expect same bankers involved in that. they did get 10x out the door earlier this morning hovering about $55 or per share for much of the day. again, the health care ipos here have done fairly well. sort of the top 20 deals that we've seen so far this year. a quarter of them have doubled or more at this point. and you only have a handful that are actually down from their debuts so, overall, we've seen a fairly good recession for ipo

and they range from health care technology, change health care to actual biotechs to companies like this that are trying to really upset the market and go direct to consumer with things like dentistry back over to you >> bertha, when it happens, we'll come back to you. in the meantime, dow is back up triple digits we're back in three minutes. but sophie's enthusiasm cannot be dampened. not even by a run-away donut. we powered through it in our toyota prius. because a star's got to shine, no matter what. it's unbelievable what you can do in the prius. toyota let's go places. gold in 2005 quadrupled their money by 2012?

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we finally got that trade on sdc, smiledirectclub some of the earlier reports have proven to be essentially correct. looking at a 10% decline having priced above the initial range. offered at 23. and currently below 21, john >> this is not what we are used to >> i misunderstood bertha on what she was saying about the range but what i said somebody messed something up does seem to be the case. here they are in the usual of the expected range that they then priced above maybe some misunderstanding of demand here. >> $1.3 billion offering size which, still, nonetheless, makes

smiledirectclub one of the biggest ipos so far this year. certainly one to watch at the nasdaq, 10x genomics which is up heading into this hour, as well. >> we continue to get buffeted by conflicting headlines with trades, let's get to sully and the half >> pretty ugly opening for smiledirect. welcome to "halftime report. i'm brian for scott. call this a halftime hat trick you have more easy money, a breather in the trade war and stocks with the wind at their backs. it is 12:00 noon and this is the halftime report. >> the markets getting a double dose of positive news. is the stage being set for new record highs winning. almost half of stock pickers are beating their peers. the stock strategies that are

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