the conversation was watch what happens when the principles meet in october if the headlines are bad, look out below. >> have a good weekend >> you, too. it was a long week. >> closing bell right now. i'm here at the fedex post because it's the worst per fofom performer of the week. it has been a wild week for the market a fed decision and a constant drip of headlines between the u.s. and china over that trade war, but just 59 minutes left to go until this week is in the books. >> let's look at driving the action on this friday. china's trade delegation to the u.s. does cut its trip short fed centers painting some different pictures of the state of the u.s. economy and the fed

says it will conduct daily repo operations to stabilize the lending market joining us for the hour, jim le camp happy friday investors don't like it when trade delegations cut their trip short. >> they don't, but god we can buy chinese dog leashes now. they've allowed a lot of things to happen and they're not accelerating things so we need to get beyond what they're ta talking about, beyond the saber rattling and looking at the actions. we haven't ramped up tear i haves in a while then you look at the federal reserve board and while a lot of people were disappointed on wednesday when they didn't do too much more than say we're going to cut it a quarter of a point, didn't give us a lot to go on in the future, it was more dovish than people look like he set the table for balance sheet expansion and balance sheet expansion may not be qe, but they could be mistaken as

twins at a party it's about the same thing. so yeah. i think some of these things are comeing off the boil whether it's trade, federal reserve board. and if you look at the sell offs, we've seen in wall street, they've been rather contained. we're still sitting close to highs. a lot of negativity out there. so i think that suggests a lot of nervous nellies would be shaken out of this market. >> we're going to to hawatch as have close to 3k kayla, some new details on that china delegation bob, sarah, highlights from her interview with clarida steve liesman brings us more commentary and news on walmart and their e cigarette announcement this afternoon. but kayla, first to you on trade. >> well, carl, the talks are over here in waurk but that smaller chinese delegation will not be visiting u.s. farms in montana and nebraska next week after all, the montana farm both confirming the vice minister of

agricultural will be heading back to china in weekend officials had been arranging these visits, not through official trump administration channels the chief purdue confirmed knowledge of the trips yesterday, but said he didn't know whether they would produce any puchls deals in response to a question by eamon javers today, president trump said purchases wiare good but not enough >> china has been starting to buy our agricultural product and some very big puchpupss. >> the president said he did not think the big deal would happen before the election, but it's clear the chinese are trying to ramp up the pressure by going to their customers and vendors directly in the states >> thank you let's bring in bob with a look

at market reaction >> we lost about 20 points on the news that china was cutting the trip short this highlights that trade talks with the marichal move of the market and have been herbally all year boeing, caterpillar, boeing technologies, all moved lower, but not too much another predictable group na moves on these, semiconductors otherwise, they're up -- nancy pelosi's drug pricing proposal would be on the senate finally, big volume several names. reductions in share count and the buy bacaktivity. bank of america, goldman sachs, while reducing their share count in the s&p 500 back to you. >> we turn to the fed as well. big interview is sarah today

with richard his first appearance his wednesday's rate cut she joins us frhighlights hi, carl, clearly that growing division inside the federal reserve is front and center especially with two of the d dissent eers out, starting with the vice chairman about why it's happen he reiterated it's healthy and center of gravity was supportive of a cut. when i asked about future rate cuts and whether we could expect any, he was a little less clear. so i asked if it depended on what happens between trade on the u.s. and china here's what he said. le me talk more broadly. the ecd marked down its global outlook.

obviously, the u.s. china relationship is important. there's a slowdown in global capital spending manufacturing and there's some pretty important disinflationary forces but obviously, u.s. and china are part of that and we referred to trade policy uncertainty as a factor >> so, global growth e slowdown. trade policy uncertainty and disinflationary pressures. are those all getting worse or better right now >>. >> certainly relative to where we were at the beginning of the year, i think they're getting worse. i think the global economy had been marked down since july. the oecd downgraded relative to this summer. in terms of global growth, it's getting worse. it's been pretty soft for a while now. >> the final cut of the year, he

did point to the fact that several members of the federal reserve expect another cut this year as for the repo operations, the fact the federal reserve has had to intervene the short-term lending market, he said it's not a broconcern for the broader economime economy. when i asked if they'd have to expand, he said we're going to discuss it in the october meeting. take it as qe. as central banking one-on-one. so didn't want to create any alarm bells about what was happen ng that short-term financing market >> interesting arah. jim, how many eye rolls are we going to get on that one. >> reminds me of when bernanke went on 60 minutes and said -- then later said we are money printing weren't you listening to me when i said we weren't? so, yeah, i think the fact dissension on the fed board is is a good thing and the reason

is these global central bankers seem to be opening on niche economics. what doesn't kill these economies will only make them stronger they keep applying the same medicines. japan hasn't gotten better and the u.s. industrial production was good this week. housing. consumers are in good shape. jobs figures were good if you look at senior loan officer surveys, they say credit's flowing right now i don't think we need to be stepping on the gas at the federal reserve board right now. >> we're focusing so much on that being the key area of strength and as it has been for some time. is it strong enough to withstand some other weaker points within the u.s. or global economy >> it's a great question and i

asked him, do you think the economy can e remain strong and carry the back of the economy. he said i have a great deal of confidence about the u.s. consumer cited the very low unemployment numbers and the fact that the consumer has been so resilient in all of the data they are seeing despite some of the global head winds. as far as the risk factors, on the business side of the confidence equation. less so on the consumer side of the equation and just in reference to that, i also asked about the oil spike that we saw this week. and whether that changed the economic look. he's been through his oil shocks in the past where it has led the u.s. into recession. we're not as vulnerable as an economy anywhereto those high oil prices it's because we produce a lot of oil and the share of spending from the consume r is a lot les. solidly future on the u.s. consumer

>> thank you for bringing us some comments. be sure to join us on monday with incoming ecb president. i almost said cnbc president, which is a whole other thing two other fed officials making comments today and they were both dissenters for the rate decision steve liesman has more >> thanks very much. two of the three from the fed's rate cut explaining today and they explain ed the differences jim bull lard wanted a cut by 50 basis points he said the recession risk is rising manufacturing may already be in reing session. inflation, too low and better to act aggressively earlier but boston fed president eric rosengren who dissent ed for the second time looks at the same situation comes up with very different bullet points. he says really weird for the fed

to be ease iing in good economic times given the 2% gdp number's about what you would expect with this economy the risks are moderate including by the way, the trade risk he says inflation's near target and rising then he's really worried about these potential costs to the economy the longer run costs of keeping rates too low for too long he said they can encourage excessive rs k taking, too much leverage and a reach he uses as an examine principle, he uses the real estate model known as coworking space. he did not name rework by name these models, they're short-term leases to small, less mature firms that could go under during a recession. landlords and banks. they don't have much recourse back to the rework parent company or cospace and cities where there's a lot of concentration, they could face more defaults. there's a big concern not the model will cause a downturn, but when we have one, it could make it worse >> steve, is this the first time

you've heard from a fed official that's expressed concern a about a coworking space? >> yes, i can go back several months and years and find concern about koconcentration of lending of the banking system into commercial real estate. b obviously the separate question here, it's related. this is the first time i remember a fed official has talked about we work specifically >> definitely interesting comments i believe at the nyu school of business my alma mater today. thank you very much. >> pleasure. >> got news on the e cigarette front as walmart says the it will discontinue sales >> this is a big move. world's biggest retailer just another step for them to take as it looks on tightening the restrictions on nicotine product sales. i obtained a memo sent to walmart employees today saying quote, given the growing federal state and leg ra torre complexity of the cigarette,

u.s. and sam's club stores are going to stop selling e cigarettes once it gets through its inventory. now as of july 1st of this year, you might remember walmart increase to by tobacco productso the age of 21 and said this year it would stop selling the fruit and dessert flavors. so it pulled back on those as those being at least marketed to some of the younger age smokers. an interesting move. obviously we don't know exactly how big the size of the business at walmart, but from what i understand, relatively small so i don't know if it will have a material impact on sales, but it's still a very big move >> would you argue their category management after their gun memo week and now this has gotten more active >> that's a food point, especially b on big controversial iras and things that have to do with public

health and policy. this is the age of a new and different walmart and this is just another step. >> as no one this week takes the chair of the business round table. >> i know two people that started spoking again after they tried vaping they used to smoke, they quit, this vaping all about and it delivered such a nicotine rucsh to them, i used to like that stuff s. a lot of unintended consequences here. pretty soon, we're going to be talking about something else i've been walking around here and smell ed a whole lot of something that isn't vaping. >> me, too >> welcome to new york by the way, all this e cigarette controversy reminds us, a special presentation tonight of cnbc's documentary, vaporized. america's e cigarette addiction airs tonight at 10:00 p.m. eastern. still ahead, tim cook making an appearance at apple's manhattan

store as new iphones and watches hit the shelves. we'll discuss with an analyst. and later, mark zuckerberg meeting with president trump cara joins us to break it down as big tech faces increased skrcrutiny from capitol hill. zblncht here's a live look at the global strike happening in san francisco. rahthehave more on this story stig aadstay with us closing bell will be right back. it's not "pretty good or nothing." it's not "acceptable or nothing." and it's definitely not "close enough or nothing." mercedes-benz suvs were engineered with only one mission in mind. to be the best. in the category, in the industry...in the world. lease the gla 250 suv for just $329 a month at your local mercedes-benz dealer. mercedes-benz. the best or nothing.

and now for their service to the community, we present limu emu & doug with this key to the city. [ applause ] it's an honor to tell you that liberty mutual customizes your car insurance so you only pay for what you need. and now we need to get back to work. [ applause and band playing ] only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ doprevagen is the number oneild mempharmacist-recommendeding? memory support brand. you can find it in the vitamin aisle in stores everywhere.

prevagen. healthier brain. better life.

just over 40 minutes left to trade on this friday rebalance. look for a surge in volume perhaps at the end of f the day, but for the time being, dow down less than a third of a percent over to mike for today's market dashboard. >> take a look at relationship issues interplay of various r parts of the market give us a gauge on whether we're in for a risk mode still the one, that's about apple. it has the ability to carry this

market for a little longer then getting past the hurt one year ago today, the market piqued for year 2018 then date night updated. look at the really the back and forth within the streaming area and some winners and louisers that are shaping up. relationship issues. this is the very clean u.s. versus the world type of analys analysis this goes back two years and clear down trend inability to make new highs since early 2018 this gap by the way, itted august 22nd. maybe there's a rotation now not clear, just a switch back move here's a good fix on the yield

dynamic. they haven't given much back despite the fact they're off their lows these things haven't told us the market has changed its character. we're into a higher yield. more cyclical, more risk on mode >> thank you very much tim, what do you make of the banks since the end? haven't had much movement. >> none have tried to exit that and all nine have gone back to zero so what's happened here in the united states? we were raising rates. now we're cutting rates. ever since this economic recovery started, the financials have been giving head fakes. they'll rally, pull back in. they're healthier now than in quite some time, but if you're worried about a recession, a global slowdown, is lending

really going to accelerate here? and interest rates have been low so for long, is lending really going to explode i don't think so i think the banks aren't going to blow up on anybody. i think they're in fairly good shape. are we going to get a lot of growth out of the banks? i don't think so >> you're not heartened by any mortgage activity, refi, anything like that >> you'll, you'll get small rallies. you draw millennials off the sidelines. strarting to buy homes and have their first and second kid, but can't afford big homes, so yeah, we're going geting a boost i think the howing market is okay do i think a growth engine for the economy? no >> bulls will still argument the worst european banks do, more market share gains for us. those economies aren't going as well as ours ten year yields are so much

higher our market has been pretty resilient. money continuing to come to the u.s. the dollar just keeps getter stronger is he going to set the world be 2017 all over again no, but i think we can grind higher >> mike's first board there where the just powers higher >> we've had some narrowing of the spread between the u.s. and the fwloeb globe in the last several years, it comes and grows. where are you going to get growth around the world? not europe right now if china deteriorates, it's going to affect the emerging markets. right now, the u.s. is the prettiest horse in the glu factory here >> after the break, wall street is divided on roku with the stock on pace for its worst week ever, but we'll speak with an analyst who upped his price on

the stock and says now is the time to buy. >> later, we'll talk to the pilot turned "new york times" reporter with a new piece on what really brought down the 737 max. take a look at treasuries here jim mentioning the ten-year yield, 30-year, fell around 6% closing bell is back after a break. i get it all the time.

"have you lost weight?" of course i have- ever since i started renting from national. because national lets me lose the wait at the counter... ...and choose any car in the aisle. and i don't wait when i return, thanks to drop & go. at national, i can lose the wait...and keep it off. looking good, patrick. i know. (vo) go national. go like a pro.

it also has the highest growth in manufacturing jobs in the us. it's a competition for the talent. employees need more than just a paycheck. you definitely want to take advantage of all the benefits you can get. 2/3 of employees said that the workplace is an important source for personal savings and protection solutions. the workplace should be a source of financial security. keeping your people happy is what keeps your people. that's financial wellness. put your employees on a path to financial wellness with prudential.

time now to get the word on the street jpmorgan out with a note on clorox asking will litter be their next problem child. they're losing market share and highlights the challenges in kitty litter meantime, jpmorgan maintaining an understood weight on the $143 price target with a 66 and $263 price target respectively firm sees inflection points in a slowly declining industry.

positive on the new ad campaign which invokes chill and relaxation and beer has had a tough run relative to spirits. >> it has and if you look at people who drink the most b, millennials, young people, what they drink, beer is not as big a part of their catalog as it was 20 and 30 years ago. around my house, it's a consumer staple but if you look at the beer companies and how they trade against the liquor companies, you're seeing a lot better growth out of the companies strong in liquor as opposed to beer you look at the companies that are beer only, they haven't performed nearly as well and don't have the growth rates. >> do you like the optionalty around cannabis. >> brought it up at the top of the hour >> my firm's not crazy about me talk about that topic, however, a area and anytime you're looking at companies one to another and looking at their list of apgoptions.

>> how about clorox? is there concerns there, kitty litter, although it's only 7% of the scale saels! on consumer staples, these were defensive stocks do i want to buy a sedate company with a 20 plus multiple? that's not the way i like to invest i want more than a market growth rate >> i thought the note was funny about the cat litter he was my cat. whatever works for him, i'm not going the change it up look at him. what a r star. such a cutie pivotal research initiating roku as a sale with a $60 price target highlighting comcast's recent moves with its flex product. the stock is on pace for its

worst week ever but has had quite a run. meantime, oppenheimer raising its price target ton roku. let's bring in the analysts behind the call. jason, thank you for being here with us. we just said worst week for roku why is is now the time for you to put this outperform and price target raised from 120 to 155? >> i think it would be fair to say we didn't just write this report this morning. this is something we were working on for a while roku has been expanding beyond the u.s., announced they're movimove ing u.k. there were press reports about highing people in brazil and we decided to give clients some analysis to understand what that might be worth as a result, we moved our price target from 120 to 155 in addition, you have numerous streaming services coming as you've been reporting and roku will be a key beneficiary of that

>> what about the cost of content? can they keep sunup. >> they don't pay for content. >> farce making sure they're playing in the right space that you're buying a roku device or using those when you've got all of these other options >> so they have a third of the u.s. market for smart tv meaning you have a roku enabled tv, but they have 11 tv manufacture partners or you have one of their devices their set top boxes. over the last seven, eight years as a neutral player, they've been able to get a third of the u.s. market. growing about 40%. then the rest of the market was slowing and more fragmented. they clearly show thep how to do that they bring you all the services that you pay for netflix.

hulu et cetera, but as consumers cut the cord, they want free ad services and they support those. so right now, you get a breath ra of choices, easy to use and consumers like it. >> the healthiest in the office. have a roku. >> so a few points it's not the only just made money on the advertise ng the content. so when you sign up for a prescription service, they get paid off of that there's a sponsorship on the defense. i have no time for commercial, there's still a way to make money off of you if someone is trying to sell you the next bundle you might subscribe for

secondly, you're see iing a broadening of tv supports. lg, i don't think people consider lg like a low end manufacturer of tvs and they are a roku partner as you know, the cost of flat panels has fallen dramatically and while at one point, you know, there was a low end television that was roku enabled, you can now get a ro kurks enabled tv at high quality levels we think that consumers walk into a best buy for most of them and thinking about a connected tv they're thinking about roku or amazon fire tv. >> thanks. good to see you. >> stay on roku today. three things driving the action this afternoon china's trade delegation canceled a plan trip to america's farmland

fed dissenters painting different pictures of the state of the u.s. economy and the fed says it will conduct daily repo operations through october 10th to stabilize the lending market. >> time now for a cnbc update. >> here's what's happening at this hour, everyone. president trump holding a news conference with the prime minister of australia today. the trade war with china was front and center with president say iing china is feeling the pain >> china's being affected very badly. we're not being affected we're we're taking in manie man billions of dollars. my relationship with president xi is a very good one, but we have right now a little spat >> turkish coast guards are rescued 14 migrants and a smuggler after their boat sank off the country's coast. a search and rescue mission is still underway for a missing infant the boat was headed for greece and the u.s. coast guard seizing more than 14,000 pounds of

cocaine in international waters. the drugs are estimated to be worth more than $190 million and they were off loaded in miami. you are up to date that's the news update this hour guy, i will send it back downtown to you. >> sue, thank you very much. when we come back, steve jobs biographer is going to join us, talk b about apple's new products whether he thinks jobs really would have wanted to merge with disney >> and as we head to break, here's a check on shares of bit, the stock jumping on a report they could be exploring a sale almost up 12%. closing bell will be right back. 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 9 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. open an account today. but we're also a company that controls hiv, fights cancer, repairs shattered bones, relieves depression, restores heart rhythms, helps you back from strokes, and keeps you healthy your whole life. from the day you're born we never stop taking care of you.

hi there, mike >> hey, court, so is happapple l the one? no longer near largest committee, but still has found a place in the consume r tech world. let eke look at the seasonal pat nern apple shares. this is a blended seasonal tendency over the course of a calendar year based on apple performance. this short break which is sort of pronounced pattern is from about mid september on around 2012 when e it fell hard

is doing a lot of work in e getting that setback, but you see it typically has a fourth quarter revival as nothing necessarily out of the ordinary even if we get a switch back, it might not be. take a look at the valuation it's expanded over the last several years. you see here, i call this the beginning of the super profits era for apple. it's got a function in earnings after you got the iphone 5 a it's at a market multiple. more than a decade right now is it a matter of people focusing on high quality buy back i think right in the zoneof what people want >> good set up fors.

than thanks walter, author of steve jobs gentlemen, happy friday. good to see you both watch the crowds this morning. the more important story is preorder trend does it look good or not >> i think it's much stronger. if you look at delivery times, especially in china, i think this is really manager where at least right now, they're popping the champagne in cupertino given what we've seen the last three years. call it a b plus, a minus where the street was anticipating the see. >> was it just above what the street expected? >> if you look tat the street, about 70 million units seen a tick up to about 75 i can tell you across asia, you could see a down tick. everything we're seeing in preorder even today, we think

lines are about 70% longer in the flag ship new york stores. it all comes down to the install base that's the golden jewel. a third of the base hz in the upgraded in three years. i think the key. >> of course walter, the longevity of your book continues to astound us because we see them now going into this new chapter on content how much of that was embedded in the conversations you had with jobs back then >> i think apple has always had as part of its magic that it connects hardware, software and content. steve jobs was famously interested in the content industries he talked a bit about music. maybe you should have a music studio and he was involved with pixar. i think the challenge was to keep all three parts of that together to have the hardware

and software content like they did with the ipod and i-tunes store. it's something i thought they would have done with apple tv, but they haven't done it >> first of all, the upgrade cycle. a lot of people didn't do their last phone because they thought it was too expensive then we were talking about apple not in terms of a growth company. maybe it's the infrastructure. if you're talking about it on the hardware side, people may have to look at this stock in a different way. if the iphone units come up plus the service, b i believe that's the one-two punch where you could see the stock making new odds over the months despite

china black cloud. being the poster child of the situation. >> what do you make of bob iger's comments, saying if mr. jobs was still alive, they might at least explore the possibility between disney and apple >> i think he's writing in the excerpts in van "vanity fair." about his close and almost soulful relationship between bob and steve jobs especially when it came to selling pixar to disney. and how steve openly talked ed about his cancer there i think there was a special bond between the two men. plus a worry about going into the streaming content.

it seems to me that the creators of the having treeming content, there's a price war to buy the content and a price war to lower the price to consumers i'd be betting on disney and others to win that battle. which is why bob iger had to make his call that he couldn't stay on the apple board. it's going to be a whole new world in terms of cost to content. that's why you're going to have to step up content purchases would be potentially large rer studio >> better choose wisely. look at some shows that are

popular. paramount has yellow stone amc had breaking bad, better call saul. if you're going to pay up for content, choose wisely because consumers are getting more and more fragment and have more and more options >> good discussion we'll wrap it up here. thank you. we only have about 17 minutes, 16 minutes to go before the bell here here is where we stand on this last day of the week the dow industrials are down by about .4%. s&p down nasdaq is the laggard down about .7%. >> how about india on pace for the best day in b about b sempb years. we'll look at what's drive iing that move and preview a key meeting this weekend between the president and india's prime minister tv announcer: it's just as powerful as the lexus rx...

as many safety features as the rx, the new... the lexus rx has met its match. if they're talking about you... you must be doing something right. experience the style, craftsmanship, and technology that have made the rx the leading luxury suv of all time. lease the 2019 rx 350 for $399 a month for 36 months. experience amazing at your lexus dealer. ♪ ♪ i've been a caregiver for 20 years. no two patients are the same. predicting the next step for them can be challenging. today we're using the ibm cloud to run new analytics tools

that help us better predict and plan a patient's recovery. ♪ ♪ ultimately, it's helping thousands of patients return home. ♪ ♪ (classical music playing throughout) you should be mad they gave this guy a promotion. you should be mad at forced camaraderie. and you should be mad at tech that makes things worse.

but you're not mad, because you have e*trade, who's tech makes life easier by automatically adding technical patterns on charts and helping you understand what they mean. don't get mad. get e*trade's simplified technical analysis. less than13 minutes left t close out the week you can see the dow down b about 140 points that's about a half a percent here let's check some individual market movers. xilnx is falling the company's cfo is planning to leave in october to pursue

another executive opportunity. they've initiated a formal search for its next cfo. that stock is down about 7%. and scholastic sites higher net redepositions from its book fair channels and reaffirmed its fiscal year guidance the stock is higher by about 6.5% india's stock market surge ing and a key meeting that's coming up. >> hey, carl that's right cutting its corporate tax rate in hopes of boosting confidence as a its economy continues the slow down. indian etfs rallying about 5 to 6% it comes ahead of modi's visit with president trump the leaders on stage together

this weekend will likely signal washington's support for india amid rising tepgss with pakistan and criticism of the handling. the question is whether they can use this time to secure a trade deal and if modi is is kuz the visit to get more u.s. companies to move to india because carl, we know a lot of foreign companies are moving production out of china to other low cost manufacturing hubs like vietnam. >> quite a move today. thank you very much. when we come back, we've got your chance trade. >> and we're so excited. we can just do it together kara's going to join us to talk about mark zuckerberg's meeting at the white house closing bell zboing to be right back ♪ i need all the breaks as athat i can get.or,

at liberty butchemel... cut. liberty mu... line? cut. liberty mutual customizes your car insurance so you only pay for what you need. cut. liberty m... am i allowed to riff? what if i come out of the water? liberty biberty... cut. we'll dub it. liberty mutual customizes your car insurance so you only pay for what you need. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ that's where i feel normal. having an annuity tells me my retirement is protected. learn more at retire your risk dot org.

frstill, we never stoppedss wmaking it stronger.e. faster. smarter. because to be the best, is to never ever stop making it better. the 2020 c-class family. lease the c 300 sedan for just $429 a month at your local mercedes-benz dealer. mercedes-benz. the best or nothing. you should be mad that this is your daily commute. you should be mad at people who forget they're in public. and you should be mad at simple things that are unnecessarily complicated. but you're not mad, because you're trading with e*trade, which isn't complicated. their app makes trading quick and simple so you can strike when the time is right. don't get mad, get e*trade and start trading today.

about seven minutes to go! two things here. market's been trading about 28.40 to about 30.28 breaking either level will be important because there's a lot of people short. markets if we go through 3028 or so, i think you could see a big rally. on a group side, momentum stocks have really been clobbered this month. that's the opportunity we look for in a month like september or october. wait for names that you like to get cheaper. i really like the software names. particularly on the payment side and i think you could start nibbling right in here >> you believe this momentum unwind will unwind. >> yes, i do i think rates will dock bcome back down. a lot of these banks got a nice pop. i don't think that's sustainable. i think they'll rotate back.

>> because we've seen the sell off, now is the time to get in there. looks like this etf down about 3% in three months >> it's sharp correction particularly in some of individual name, particularly on the payments side. tha great growth area. productivity enhancers are going to be important in a tag nant, dploebl economy. i think you're going to see a lot of the money in europe spent on productivity enhancers. so i like this space quite a bit. >> if energy goes back to the dug house, isn't there more of a put. >> yeah, yeah. i think energy does go back into the dog house. can turn on and off a lot faster than it used to be able to and we're seeing signs that they can restore this production in saudi arabia faster than we were seeing it in the price of oil. so i think some of those trades do unwind. not necessarily to where they were before the attack, butter than where they are now. >> got it, thank you, jim.

i think we're going to shawn td amer trade's trading strategy manager. what are you watching into the close here on this friday? it's been quite a week it has just looking at how we started off the day, even b though we were in the green, if you look at the heat map, there were still a red spots. so what we saw in term of upside, it wasn't very strong. so it didn't take much to really knock us down from there al we needs us news about the u.s. china trade talks staeemed like we were making progress week after week lookeded like that came to a hall today with the delegation kanelling the trip to montana. >> so going into next week, what would you be watching?

>> i think energy is one area that's probably going to be fairly volatile. if you look at the oil volatility index, that's been elevated all week long escalating tensions with iran and when you start to see tensions ratchet up, a response from iran that destabilizes things in the middle east. that may be an area to avoid moving forward >> they did their best to show us pictures today and convince us they'll be able to bring it back online by the end of the month. are you suggesting there's the danger for further drone atta s attacks? aram ko would argue not a shipment has been misseded >> i don't know if it's going to be more drone attack, but when you start to, we heard the administration ratchet up sanctions on iran, b they started responding with there's

a will the of say incidents with the shipping in the gulf so maybe it won't be another drone attack, but still other things they can do to disrupt the flow of oil in and out of the gulf >> thanks. preeappreciate that very much. energy's been one of the stories of the week. shawn cruz over to mike >> hey, carl market this week looks like it's gotten b tired of treading water. some currents. getting past the hurt is what i wanted to do so put it in context over the past year the hurt in this case, being one year ago today this is right here that was a high. this is the anniversary of that. so you had a lazy com market fed concerns ch we know what happened with that 20% drop.

probably a pretty good base. what's interesting about this is whit's what people are saying is the downside limit to what you could say would be a normal pullback no reason to thinkry is going to repeat we're still fighting the same battle of the same levels as we go into this week. let's get a look at the nasdaq with kate. >> thanks so much. the nasdaq lower by two third of a percent here losses has been accelerating the nasdaq is the performer of the three averages big cap tech names traging the nasdaq 100 lower in terms of point impact it's amazon, microsoft, netflix. google an apple which released its new iphones and i watches for sale today shaving off between two and 11 point off the nasdaq 100 the russell 2000 also lower. by just under a quarter of a

percent but down by more than 1% for the week and nasdaq is lower by just about half a percent for the week going to send it over to you now, bob >> we are down, the s&p is down just fractionally for the week not a bad showing considering the drop we saw in the middle of the day on trade talk issues that was a long time in the week so here in the day we see trade related industrial names boeings, caterpillar, deere, down but not too much. we are going through as i speak, a large rebalancing of the s&p 500. we spoke about buybacks the effect you get your share count reduced for many of these stocks out there. companies actively buying back like apple, bank of america, oracle goldman sachs. al seeing share counts reduced in the s&p 500 that's happening right now

right now, the big question is whether you can get the volume through without move iing the prices that's the game. down for the week. closing near the low os f the day. dow jones industrial down 155 points at the close. >> cnbc's senior markets commentator, look at the dow here didn't get back to the flat line for the week as you can see, close down in the neighborhood of 13 on this important day. nasdaq and the russell among the top loser is netflix reed hastings making comments to variety on what he sees as the

increasing cost. obviously of content as disney and apple and others jump into the game said that they got out bid for shows like flea bag, but a 6% drop in netflix is something to pay attention to >> it is, quite a move there worth about $16 in the price of that stock i'm watching shares of wayfair an interesting note here they're initiating the stock here and not some very comments here because they're saying look, they've got a 24% share of u.s. online market in the category but the first mover advantages are starting to erode. you have to compete on price convenience, choice and it doesn't do any of those. shares down about 4.5% on the session. joining us now the to talk about the broader market, jim le camp, seen r yor vice president at ubs and liz young, director of market strategy. mike, middle of the day, we got these comment about the china delegation no longer going to visit the farmland and we saw a

steep drop was that a bit of an yoef reaction since it sounds like they didn't have an i ten yar. >> we haven't built up immunity to the blow by blow headlines about trade in a week where i think the market reached its capty for absorbing unexpegted things and not falling apart so you have the oil shot on monday this kind of stress in the overnight bank funding market, this came out of nowhere and it would have been a good excuse to get nervous. you have to fed move expected, but it's usually an excuse to sell off i think the market down half a percent in a week. this really changed the whole story, buthered up a lot of ene make a real push for highs i think that trade, weekend, selling off into the close could have been some expiration adjustments. but the volatility index clicking above 15 tells you we're not comfortable yet. >> you're not in the double top camp >> i think the breath of the

rebound value has been impressive people like pinning a lot of weight on that and the credit markets have been b perfectly flush and haven't given you reason to be concern ed >> u.s. china trade, kayla, people wondered why we were getting so few headlines out of this deputy level degree del gags then we got a bunch today >> i think the most people expected the deputies to decide was maybe a joint statement. the talks have gone out quietly. the trip, that's now canceled. cnbc first reported the week long trip to mt. and nebraska that the trip was in the works we reported that wednesday evening. the chinese were arranging it with the state farm bureau, not through the trump administration's official channels and with no known plans for any purchase deals the news of the trip came and

went quickly >> details were not worked out and it was a short notice deal that ended up simply being tentative when we found out then being canceled before any real mans for made. >> we knew their rival and departure times. we knew a handful of the crops they were interested in looking at but the chinese embassy e-mailed them today and said they'll have to save the visits for another time carl and courtney. >> thank you very much what do you make f some of these headlines when it comes to the market's jumpness in reactionary end thesy? sometimes, it seems like we react, but today we made a decent move. >> i agree the other thing i think is interesting, the market is still expecting a deal it might be a lightweight deal

but we're expegting something. i think the surprising part here is that china is the one who backed away because they're the ones that have the weak economic data and i think there's a little bit of an expectation, too, that china's going to hit their own capacity, too with weak economic data so the fact that china said we're going to put this on pause was probably a little bit of a surprise >>. >> if china ease panicking, not a siphon panic, is it? >> they've done all sorts of things in china. they're always try iing to expa credit without calling it expanding credit i think they're hurting. they're willing to let their people feel more pain than remember, we have an election coming up. i'd be surprise fd a trade deal gets done. that would give the president ammo to both sides to fire on. and really -- i agree with

michael's point. >> in interpreters of the market reaction, we're getting small reaction, not big reaction as long as we don't slap 25% tariffs on goods, i think the market is is going to be just fine >> there has been this pattern of market gets back to a high. the cadence has been okay, that's an opening. the muscle memory is perhaps still there. >> the president said i'm not looking for a partial deal i'm looking for a complete keel. right? >> those headlines proceed ed te montana news >> the market worked really hard to standstill is what we saw

>> our economy looks better than theirs does. it looks a lot better. trump has shown a willingness to back off things quicker than they have. >> that's going to be a huge story in new york. does that transfer to markets? >> that will be one of the bigger stories this week though, it surprised me how little we reacted to what happened in saudi arabia and the headlines around iran. so it will be a story but i still think the main story here continues to be trade. continues to if we can make ford progress there and it continues to be if banks will come together in more of a coordinated effort and really prop everybody up. >> to that point, sarah had a big interview with the vice chair of the fed today, his first appearance since the rate cut on wednesday here's what he had to say about negative interest rates. >> those negative and low rates are a symptom of slow growth

the european committee is glowing about half the pace f o the u.s. economy japan, they've been fighting off deflation now for two decades, so i think the u.s. economy is in a much better position now, even though our rates aren't negative, but a symptom of strength, not weak >> jim, where is your head on negative rates jamie dimon said they're preparing for zero, but he says he doesn't see negative rates in this country >> i hope not. it would be even worse for thing system hasn't worked anywhere how is that going to work? where has it worked? why would we do that the banks would be decimate and it would send a message to the rest of the world we've got to reserve currency, but got to go to negative rates. doesn't make sense the a terrible idea. i hope they don't do it and i think it would be terrible for the market >> somebody should tell the presidenttal about it repeatedly.

>> agree that we are not in nearly as detrimental of a situation as europe and our rates being above europe's makes sense. maybe we have to bring them down just a smidge more i'd like to see the fed fund rate beneath the two year, but i don't think we need to go into this extreme cutting cycle and get to zero. >> so you think we should probably cut one more time >> one more time this year then have a chance to turn the growth trend around then next year, we'll see what happens if there's no big negative news that comes in, a chance we might see inflation continue to come alive, growth pick back up and who knows t a tend of next year, maybe we have to move in the other direction. >> i think you have a fed now that told us they're hoping not to act again would you go below zero is really on the real m >> not to mention seven of those

who want to cut again. we don't know if they're voting. thanks good to see you. when we return, we'll talk about whether mark zuckerberg will be able to curb calls to break up big tech after his visit to the white house and capitol hill this week. cloe back in 1090 seconds markets. the business of trading goods and services. nasdaq operates among the largest markets in the world. and our technology powers markets from indonesia to chile.

great markets are built on a foundation of trust and integrity, forged through leading edge technology and a smart regulatory framework. as technology advances, regulation must keep pace to allow the markets to evolve. today we see an opportunity to modernize regulation, to make markets more accessible to investors and entrepreneurs of all sizes. from the graduate buying her first stock, to an institution investing in thousands. the markets belong to everyone and stand as a symbol of economic advancement, social progress and limitless opportunity. that's the tomorrow that we envision and to get there, we'll have to rewrite it today. mark zuckerberg meeting with the president last night following a day full of meetings

with lawmakers to discuss tech regulation the meetings come as facebook, amazon and google face an antitrust investigation by the ftc. >> let's bring in kara sounds like senator hallie excuse me asked him to sell instagram and what's app doesn't sound like he was too receptive. you know, senator holly has been aggressively talking to fak and i think he told him it was on the mind of a lot of people. what are you going to do about this massive power you have in social media but i tout mark is going to take a suggestion >> willing wily >> what do you think he had to say the ease the fears about the power? >> we're doing better. we're so sorry we'll do better this time.

>> it's essentially doing the job they should have done before which is clean up the service and get rid of apps that take too much information from people, reviews people's privacy. just him being here, these people don't like to be here sort of having dinners and being charming what they're trying to do in fbi is to gather a people of 40 people that will determine big iras on the site big content problems and stuff they're trying a lot of things including just cleaning up the site in a way that makes it safer for people >> i saw a video of -- apologizing for the users trying to new approach to verification. even the fixes are not going over well. >> no. they did this, "new york times"

taylor lawrence had a great story about youtube creators being upset because they got unverified which could affect their popularity doing interesting things and some of them if they don't meet a criteria, it got unverified, whatever that means. i know what it means, but you know what i mean b, how did they decide this. i think the lack of tran parnsy was the issue here how do they make these decisions. no matter what they do to clean up the site, they're so big and important to people's businesses, they're going to attract lot of attention almost whatever move they make i don't envy their problem right now. >> meantime, kara, larry ellison reportedly calling out we work and uri uber at his house. he called them almost worthless. blasted uper's app saying they have an app my cat could have written. why is he stepping out like t s

this i think hess like that sayst what's on his mind he's voicing what a lot of people say, there's challenges to uber's economics. math is a problem for these companies. both are great brands. his point i think in a larry ellison style using a cat as an examp example, this stuff isdefensible doesn't have motes like oracle although they're under pressure with cloud and everything else >> it's interesting because rosengren of the fed brought up we work today as a major concern potentially for an economic risk

i think there are a number of different people in high profile positions start tog scratch their head at what's going on with it and the ripple effects that could cause these companies that may be promising but aren't ready for prime time for investors it's one thing if soft bank wants to throw money down a hole or go public and voice this stuff on investing public. and i don't know if it's going to ripple through the u.s. economy because we work has problems they're representative of a mind set that maybe is finally waking up to because growth is one thing and making money isically important and some of these businesses are putting these tech companies are not tech companiens and don't have the same scaleability.

>> that's true no surprise they would want to portray themselves as tech companies, but i find it interesting larry is doing the software snob thing and saying this is is an elegantly engineered software. not really a barrier to entry, but does it mean that the pure tech stuff has run up against some kind of limit to just the next big thing as well obviously we're mostly talking about these mundane things like office space and taxi cabs as big tech companies >> these are physical things and every new customer costs more. with software, understand wyou have made and created, everything's gravy after that. that's how it's been for many years. so i think what he's talking about is that these are n nno non economic now the issues around innovation and software is a whole other question there's stuff around ai, inflammation, robotics

there's all kinds of opportunity. the next billionaire is going to be someone who tackles the climate change thing successfully >> pictures today of these protests unbelievable one rs thing on we kara are the people you're talking to convinced this is truly a delay in the ipo and not a cancellation >> this is not going forward and how big a business is it the it's not a $47 billion value business and now it's down to whatever it's down to. it may just be 3 or $4 billion a really nice small company. i don't know that will be a big disappointment for the people who put money into it in the later stages and also early investors. >> they're going to go into a

really stuff market. for themselves >> if they don't go public, i think they're going to need a source of funding there. >> he's rich got some money maybe he'll invest >> thank you for joining us. >> still ahead, roku having its worst week ever. up next, we'll break down the charts to see which ones are benefitting. >> plus, nex felix ceo says it's whole new world when it comes to the crowded streaming industry u' g details when closing bell comes back. corner of your growing business. from finding out what's selling best... to managing your fleet... to collaborating remotely with your teams. giving you a nice big edge over your competition.

that's the power of edge-to-edge intelligence.

we have a news alert on the patriots eric has details >> carl, that's right. the patriots have just released antonio brown, who only played one game for the patriots after a series of allegations against him regarding assault, harassment from multiple possible victims that alleged he did some kind of inappropriate activity a statement saying we appreciate the hard work of many people over the past 11 day, but we feel it is best to move in a different direction at this time this now the third team just in

the past few months that have gotten rid of brown. we'll see what happens to him. nike remember just drop iping hm earlier this week. as one of their endorsed athletes so that is antonio brown not a member of the pate wrriot anymore. >> going into the weekend, thank you for that zblncht netflix shares have been hit hard today hastings telling variety it's a quote whole new world start iin in november referencing the launches of an a l tv plus and nbc's peacock and he went on to say they'll go on to produce original content though it faces stiff competition in that arena as well. >> i just wonder how many streeching apps will be the magic number three, four, one i don't know over to mike for his final dashboard of the day what have you got? >> actually looking at how the market is trying to sort out the exact problem here first of all, take a look at roku obviously the most in the spotlight today with big losses,

but this is since its ipo. next week or a week from tomorrow is the second anniversary of its ipo, so you can say it's been an incredibly strong stock and more than tripled year to date or down 40% and the market is calling it game over. the big question around roku from the beginning was is it analogous to a tivo where it's a future than a stand alone product. netflix, disney, comcast you see the way the market has sort of tried to rethink this. so netflix over here, really piqued about 13 months ago so for a while, the premium has been bled out of netflix whatever was assigned to the company for being first mover, head start then you see uptrends in disney and ca and comcast on notion there are more viable ways to play the streaming trend.

if you thought internet tv was going to be the future, take over the world, for a while, the only thing you could do was really crowd into nex felix shares now there are other ways to say there are going to be more winners. so this is not to say a zero sum game, there's just multipi ways. >> international market is different, too >> thanks. when we come back, we'll hear from a journalist who says inexperienced pilots could have just as much to blame for the 737 crashes as some of the software problems. do you have concerns about mild memory loss related to aging? prevagen is the number one pharmacist-recommended memory support brand. you can find it in the vitamin aisle in stores everywhere. prevagen. healthier brain. better life.

everyone has something to say. but in a world full of talking, shouldn't somebody be listening? so. let's talk. we are edward jones. with one financial advisor per office, we're built for hearing what's important to you. one to one. edward jones. it's time for investing to feel individual. hour 36 in the stakeout. as soon as the homeowners arrive, we'll inform them that liberty mutual customizes home insurance, so they'll only pay for what they need. your turn to keep watch, limu. wake me up if you see anything. [ snoring ] [ loud squawking and siren blaring ] only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪

but we're also a company that controls hiv, fights cancer, repairs shattered bones, relieves depression, restores heart rhythms, helps you back from strokes, and keeps you healthy your whole life. from the day you're born we never stop taking care of you.

♪ welcome back now time for a news update with sue. >> hello, courtney and we have a developing story right now a car drive iing into a mall in illinois take a look at this video posted on twitterment it shows the car driving around inside the mall as people scurry out of the way. our affiliate in chicago, wmaq, reporting police have two people in custody that situation is still onthough the three mile island nuclear power plant stopped producing electricity today, 40 years after the accident of reactor number two caused a bigger nuclear scare in u.s. history. reactor one is closing down as well and police releasing this

video from wildwood, new jersey. people sitting on the porch of a multiunit condo when the deck above collapses. more than 20 were yired in that accident it has been a busy news day. and storming of area 51 schedule ed for this morning fizzled out a bit. only 75 people showed up after more than 2 million people responded to an internet joke. local authorities had to plan for security just in case. you really can't make it up. that's the news update at this hour carl i will send it back down u to you. >> i don't know how many more news updates we can handle, sue. >> i can't handle anymore. i think it's time for a cocktail >> yes >> see you soon. >> "new york times" magazine out with a new article, what really brought down the boeing 73 p max. maliyah functions caused two crashes, but -- is is just as guilty

joining us is the reporter behind the story good to have you with us thanks for the time. >> thank you >> there's been a big back and forth between regulators, the carriers, the manufacturer b about who's to blachlt what did you find >> well, my impression from the beginning was that neither of these b accidents should havoue. and why did they happen is the question no doubt that boeing engineered or implemented a system that was not up to standard so there was a problem there boeing sort of fell down there but err whatever errors they made should not have caused the accident the accident was truly caused by the crews in both cases. they were both caused by the crews. >> was going to respond by saying we were improperly trained. is that not fair >> not fair. the, where the rubber met the

road in this case, or the failure of that system, the so-called measuring cas, it amounted to just a run away trim a really standard problem in any electric plane with trim as an issue and the solution has always available in the 737, it's simple. there are two toggle switches to turn off the trim. so whatever reason, it runs away whether it's faulty mcas or some other reason the cut off switches are there and can easily overcome the problem. so you're allegation is that the pilot should have known that they should have engaged the switches >> it's more than an allegation. it's a certain thety. in the second case, not only did the pilots every pilot knows about the cutout switches. >> they know about the toggle switches, by, fat toggle switches so you can't fly a 737

and not know about them. the question is will you use them at right time in the case of the second accident where all the information was desim nated. we know the crew of the ethiopian 737, they knew about what happened in indonesia and the mcas and still messed it up. >> what do you think boeing does here and have you been impressed by the pushback from international raegulators this week >> the story turned political right away i find it hard to use the word impressed. there's a lot of political posing going on. i think they have a big problem on their hands and who's going to have the couragement and saying this airplane should have been play flying it always should have been flying it became clear there was

probably never a reason to ground it, but there are fundamental problems much larger than the 73 p that had been exposed. by these two accidents that has to do with the nature of the 300, 400,000 airline pilots in the world. the nature of the industry globally especially in rapidly expanding sectors of asia. what's the quality of piloting and training the understanding of the airplane, boeing, like airbus like all of us, facing a real problem. if boeing made a mistake, i believe the largest mistake is to overestimate the overeququal of the pilots it's selling its airplanes to you did great book a while back on the miracle of the huds rng larngly a book about airbus. how would you character iize th

horse race dpung it's shifted for good? >> i can't make that kind of prediction i would never underestimate boeing they're going to bounce back and strongly a very talented company. airbus is equally talented i suppose there's plenty of room in the market for both >> thank you for joining us on your very in depth reporting still ahead, millions of people around the world are skipping work and school to demand urgent action on climate change details straight ahead >> plus, we will get a look at why gen z's spending trds ulmasave brick and mortar retailers later on closing bell at verizon, we're building the most powerful 5g experience for america. that's why the nfl chose verizon. because they need the massive capacity of 5g with ultra wideband, so more screaming, streaming, posting fans...

can experience 5g all at once. this is happening in 13 stadiums all across the country. now if verizon 5g can do this for the nfl... imagine what it can do for you.

♪ millions of protestors joining a global strike for climate change diedra has more in san

francisco. >> we are right in the middle of a protest. thousands of bay area students and supporters have marched right now in the heart of san francisco's financial district they are calling for urgent change, urgent action on climate change they're chanting, they have signs. this is a nice sort of san francisco touch. these bikes here are actually powering the speakers that you hear on stage. now it's not just students, but tech employees are getting in on the action, too. thousands of employees from twitter, amazon, google, microsoft and beyond are also demanding change against their company's environmental impact take a look at this sign up here it says the wrong amazon is burning. the wrong ice is melting. ahead of that, you are seeing some changes jeff bezos pledging to be carbon neutrally 2040 we continue to follow these marches across the city. back to you.

prz. >> very interesting when you talk about these young people wanting change the question is are they going to vote with their dollars stop servicing some of these tech companies or shopping at some of these retailers if you're looking at amazon >> that's a big part of it also the local policymakers. we're hearing that from nancy pelosi's office, they have an agenda and are making it very, very clear wak to you >> the pictures are impressive there was one here in new york as well. >> coming up next, a check on gen z. the startling reason why young shoppers could save brick and mortar retailers that's coming up on the chosing bell so servicenow put your workflows in the cloud, huh?

mm-hm. your employees must love you. thank you. ah, you could say that. so how are things with you guys? great. thank you. thank you, sir. lunch next week? terrific. say hi to the team.

will do. call my office, i will. -sounds good. alrighty. servicenow. works for you. oh, there weren't enough intehours in the day to maintain are old data center. so we made a twelve a fifteen. three extra hours. but that really doesn't add hours to the day. yeah it does, look. i'm not sure it works that way, but at cdw we get that time is precious. so we'd access your needs

then design a nutanix enterprise cloud. to give you more time to grow your business. yeah that's better. hey we still on for lunch at 15 o'clock? you bet. for private cloud solutions you need nutanix and it orchestration by cdw. a new survey shows 81% of generation zers tend to purchase products in store instead of online they say they use it as a way to disconnect from social media let's bring in the person behind this report. okay, gre, so are the retailers getting this backyards, instore is the place to be in what do you make of these numbers? >> we find that we've known

they're an overwhelmed security conscious group of people. they're stressed >> unlike the rest of us >> more so this is a group that's grown up in the security area the store experience allows them to go into an environment that's cure rated for them. they get overwhelmed by the endless aisle and prefer a spot working with retailers who have taken the time to understand what they want and can present the products they prefer. that's what the organizations face if you go too far the other way and b you think it's going to be analoged b, bells and whistle and roler coast esers, that's not what we talk about when we talk about experience.

they're thinking about comfort integrated blending and meshing of technology and personalization in a way that take all the bells and whistles of technology but puts it to use in a way that allows this em to make better decisions and feel more comfort bable with those decisions. >> interesting we hear a lot they don't want to speak to anyone. talk to a bank teller they want to use a kiosk and i assume they don't want to talk to a salesperson. >> depends on what this person is they don't want the waste their time with frivolous chat and how are you doing. they want someone to help them make the right choices because this is a group that wants validation they want the ability to access endorsements so if you go into a store, they want to be able to touch and feel they want to take a picture of the product. share it with their friends. so ironically, there's a loft sharing even though they're trying to use the experience to disconnect a little bit. so these are integrated experiences that allow the population to really have a

tactile experience even though it is digitalically enhanced >> they like to go to the mall partially as a social experience just surprising that gen z subscribes to that >> this is a population that's grown up in the digital age. have really force d the retailer's hands to invest in a digital experience they've moved away from the importance of person to person sales associates who know how to explain a product and increase the comfort of a consume e >> we had deiedra on and she was in san francisco outside of the climate change propest tes and you had asked om respond ends about how much they virtual

thin value sustainability and productses and the environmental friendlyness of the way things are made and they want that. but don't want the pay for it. isn't that a problem how much do you invest in something they want, but are only willing to pay so much for. >> we've done a lot of studies hooking at consumers and when you put those pieces together, you get a story about gen z that expegts eco-friendly b to be put into the products from the beginning. so they're not saying hey, i'm going to do something sustain bable therefore i'm going to pay more they're going to look to companies to actually make those decisions as they're build iing the products as they're distributing them. that's what you heard in the piece from diedra. they expect companies to think about those issues as they bring forward products and meet those needs. >> farm to table retail. >> thanks. >> thank you >> when we come back, raising the red nag. boston's fed president calling out the we work real estate

model not by name. we'll break down some of those details. >> and nike on deck. set to report results next week. the y in tkethgso watch in that report when closing bell comes back stop working, will it feel like the end of a journey? or the beginning of something even better? when you prepare for retirement with pacific life, you can create a lifelong income... so you have the freedom to keep doing whatever is most meaningful to you. a reliable income that lets you retire, without retiring from life. that's the power of pacific. ask your financial professional about pacific life today. tell him we're flexible. don't worry. my dutch is ok. just ok? (in dutch) tell him we need this merger. (in dutch) it's happening..! just ok is not ok.

especially when it comes to your network. at&t is america's best wireless network according to america's biggest test. now with 5g evolution. the first step to 5g. more for your thing. that's our thing. ♪

boston fed president weighing in today on the rise in working spaces saying quote i'm concerned that commercial real estate losses will be larger in the next downturn because of this growing feature of the real estate market which could make which could mad vacancies more likely due to the leasing model. but how much of the office market is made up of flexible space companies like we work diana olick has information on that sfla working it's is the biggest growth sector but a tiny segment flexible office space grew by 34% in the q 22019 but accounts for just under 34% top compare to 6% in london and shanghai the two u.s. markets are san francisco with the 4% and manhunt at 39.6% according to cbrep we work is the biggest others include spaces.

regionis and common grounds. traditional leases are prevalent but partnership agreements are getting popular. a recession would slow kpand but but flex operator would renegotiate partnership agreements and leases. >> diana you are we talked with liesman were this came from rosengren bus it's a fipgs of the northeastern real estate market and see fair. >> well, no, we see a lot in frist. wework is everywhere at this point. you get a big hit if you do is do have a reeggs but remember recessions affect office space because you lose jobs in the recession and means less office demand it's really across the board and you know i think it's going to affect the markets that are bigger markets that would have more of in flexible office space but it's really across the board. >> yes, especially if it's just under 2% of u.s. office vrn, the big growth but looking at the total market not so big. >> no not so big at all. we get obsessed with wework because it's new, interesting

and controversial and all that but really it's a dine tiny segment of office you have to look at how office has been surviving through the change in the way we work and teleworking and that that's a bigger deal >> all right it is certainly threw us for a loop getting the outspoken fed governor on we work. thanks new headlines on the start-up front the "wall street journal" says solid chain sweet cream raised funding at 19.6 billion-dollar valuation. the nunding used to launch a food delivery app next year. i'm told the app is incredible. >> i used the app, the one you can just preorder. >> down here. >> is it crazy the number sounds low for valuation. >> just a billion and a half. >> for a salad company. >> the i guess the counterpoint would be barriers to entry a lot of the bull. >> what's sustainable competitive advantage of the sweet name. >> cost of the food and they run out. >> yeah, interesting, of course.

we'll be pay hype hyper-focused attention with any kind of technology component to food companies. >> look aheading with the key things every investor needs to watch heading into the new trading week that when "closing bell" comes back every day, visionaries are creating the future. so, every day, we put our latest technology and unrivaled network to work. the united states postal service makes more e-commerce deliveries to homes than anyone else in the country. e-commerce deliveries to homes i like to make my life easy. ( ♪ ) romo mode. (beep)

(bang) good luck with that one. yes! that's why i wear skechers slip-ons. they're effortless. just slip them right on and off. skechers slip-ons, with air-cooled memory foam.

but we're also a company that controls hiv, fights cancer, repairs shattered bones, relieves depression, restores heart rhythms, helps you back from strokes, and keeps you healthy your whole life. from the day you're born we never stop taking care of you.

a major averages snap a three-week winning strategic a check on the big mover roku falling sharply to cap off the worst week ever after pivot alinitiates coverage with a sell $60 target because of increasing competition. netflix down sharply after the introduction of new streaming services from disney and apple and comcast create a new world of rising costs for his company process opinion. and shares of cat down on shares of trade concerns after the farm visit by china negotiators. look ahead, peloton set to brace the ipo next we can and neek ee reports after the bell tuesday. but let's look at what to watch from peloton leslie pick ares has that. >> investors are currently assessing the public market fitness of peloton as that company spent the last week on the road to market the deal. next week peloton and its advisers will set a price for the initial public offering and

shares begin trading thursday. they're looking to sell more than $1.0 billion worth of stock at a valuation as high as $8 billion. so far, the deal has received mixed reception from analysts. some impressed by the company's top line growth, while others point to the high marketing spend, guys. >> all right leslie, thank you. the other big news is of course nike tuesday. >> nike, here we come. they're reporting after the bell on tuesday a lot of things to watch shares of nike interestingly haven't done much in three months up about 2%. up sharply for the year. expectations for earnings and revenue for both to grow more than 4.57% north america greater china knows will be the regions we'll focused on for the sales trends. bernstein zpied the currency headwinds. nike product moment sum enough to offset the fx pressure and the street expects the direct to consumer sales from nike to continue to expand margins for the near to even medium term and when you look at back to school, nike, holding onto the

crown as the most popular in 81% of cases, according to stiefle foot wear services nike had four of the most popular best penetration in the survey since 2015 adidas population waning and neek ee continues to hold the top spot tor teens for shoes and apparel and pieperafterry annual survey they hold the top spot as adidas was once. >> hard to go with the giant that's for sure. >> getting news and palin tier for that josh lipton josh. >> headline just now carl on palin tier according to routers tarring a valuation of at least $26 billion in a private fund raising round that it was valued roughly at $20 billion and in its last private fund raising round back in 2015 routers looking saying it's rooking to raise between 1 and 3 billion-dollar and the royal bank of canada and the bank of

stanley. of course this is the peter thiel data analytics start-up company. more news if and when we get it from the company. >> thanks, josh. mike, final thoughts for next woke what are we obsessed with. >> there is a fair amount of u.s. macrostuff coming occupy durable goods ant pmi and right now the pattern has been pleasant surprise, the economic surprise indexes moving in the right direction, the market kind of saying fine maybe we'll be okay without baking in a sure thing of another rate cut. that's the main thing. but then the market reacting to itself i think is an issue too we've been hovering here right below the highs in the s&p 500 the high from july 26th is exactly at the 20% year to date gain mark. i have no idea if that's significant. but it's interesting that we kind of have this little bit of lack of oomph as we reproach. >> some names since the last high up 10 target, lennar, poulty western dlej. >> and it's not a bad picture.

it's not telling you the mechanic is failing. inin fact the breadth indexes look fine just hasn't pushed through. >> there's it. we're done "closing bell" is over >> that does it for "closing bell." thanks to mike and everybody. >> escort out of here. >> have a great weekend, everybody. "fast money" begins right now right now. live flt nasdaq market site over looking new york city times acquire. this is "fast money. him i'm melsee lee the traders on the desk. on the big show tonight pharma stocks popping as lawmakers double down on the drug price debate senate republicans calling the democrats latest negotiation bill dead on arrival we'll goat you the names in our own exam then if the shoe fits did azmodan call all bird? we look at more side by side pictures of both and then zoom out to get the bigger pictures concerns this could raise. but first -- >> announcer: in a world where binge watching a national pass time, a universal battle i