they may be traveling but looking for cost effective options but staying shorter opinion that don't bode well >> thank you that does it for us. i will join power lunch that begins now we'll see you here in just a minute here is what's new at 2:00 billionaires under attack. every one from lee yooe yoon cot jamie dimond taking a stand. elizabeth warren is not backing down shake shack gets grilled the stock having its worst day ever after the burger joint warns of slowing growth and grub hub is to blame. the profit is here marcus will be with us for the whole hour to talk the economy and consumers.

power lunch starts right now taking a look at the markets. a bit of a mixed bag now back to the highs of the day. the nasdaq hitting a record level. the s&p has yet to make its mark it's still just barely sitting in the red melissa. >> the dow getting sent to new record highs to some surprising news on a dow component. bob is at the new york stock exchange with the latest >> walgreens is reported to be exploring a potential going private deal with buy out firms. that's according to reuters. this was halted on the nasdaq for volatility, not news pending. it's re-opened up about 3% as for the broader market, a bigger break out may be near we're only 10% of the s&p at new highs. that could be about to change.

we're seeing a significant number of stocks 2 or 3% below the new highs. that's close enough to produce expansion. big names shy of new highs discounters like walmart and ross stores. home improvement stores like home depot. some of this may be due to tax loss selling at the end of the month abating. some of this due to a modest rally in oil the markets are rotating the big cap we saw fading with starbucks, disney. well off of their highs early this year. we have a new crop of potential leadership those are bank stock, energy stocks and small cap stocks. that's the classic value play. back to you.

>> all right bob, thank you for that. renewed optimism on trade talks between the u.s. and china helping to fuel this record rally and thanks to new numbers we see who is winning, who is losing that trade war. steve joins us thanks very much >> crunching the latest data that came out this morning china may be closer to a deal. the losses are mounting for both sides and it's measured in tens of billions of dollars president trump can boast that china has lost far more than the u.s. in dollars terms. u.s. imports from china have fallen a sharp 53 billion dollars. they are down just 14.5. hold on. u.s. exports much less to china. there's more to lose in percentage terms taking a look u.s. exports in china down 15.5% are off just 13.5 the effects are worse for u.s.

exporters. the averages mass some really serious paying individual industries take a look here experts here, they have plunged 65% since the start of the trade war in 2017. 39% down for forestry. you can see 35% down for livestock and a whole bunch of other businesses and industries are down sbowell into the double digits they can see a bounce back some may have found new markets. the chinese customers have found new suppliersuppliers, the u.s. exporters, it's hard to get the old silk road back the way it was paved before sf >> in my reporting, i know the soybean farmers are concerned when they know that thousands of acres in russia are being plowed under to plant new soybean fields and china is sending chinese farmers to russia to plant soybeans they think this is never coming back overall, isn't our trade deficit

shrinking? >> a bit a bit. one thing we find is what's lost from china is picked up by other countries, not necessarily in the u.s. the trade deficit is down oo bit. it's still very large relative to gdp >> all right let's bring in our guest host today. marcus is the chairman and ceo of camping world and the host of the profit marcus owns a variety of companies he invests in. >> i think your point about the supply chain will leave a lot of american companies maybe looking for a new entry point. i think that's happening in my particular businesses, i don't know that the impacts have been found just yet. a lot of the inventory we have on the ground today and all of these businesses were bought six, seven months ago were planned out. >> they were pulled forward. >> they were pulled forward and contractually determined

already. >> when do those contracts get negotiated is the magic time if there's going be a roll back it's got to happen now before the price is locked in >> it's got to happen now and for a lot of us even in the tariffs get resolved we're going to feel that over the next six months for inventory we bought >> walk us through a phone call. we know you're involved. how do we know that, from television news reports of president trump raising tariffs. walk me through the phone call to one of your companies that import stuff from china. >> i'll flip it and walk you through a phone call with a key supplier of ours the first phone call is what is your plan on changing my pricing

to the end consumer and the goal is how do you work together to not pass on as much as we can. the consumer haven't seen an increase in price. we have seen a lot of margin compression. >> you've lost profit as a result of this in. >> i think the manufacturers along with my business have seen margin compression. >> the camping world the one that has the most impact from the trade tensions or are there -- grafton furniture here. are there other businesses that's been harmed >> my fashion business the textiles have been far more impacted that big raw materials like metals and plastics very hard to pass that on and all things aren't equal. you look at the bankruptcies of barneys or forever 21. those kinds of companies that rely on big margins to get them through the holiday season, even

five points of margin compression -- >> does it matter by price point? is it easier to pass along >> the lower the price point t easier to push through >> really? >> you're dealing with a consumer that isn't as sophisticated in terms houf t sw the marketplace works. >> you're saying rich people are cheap and poor people are not. >> no. i'm saying that wealthy people that are buying a luxury good will go to alternative luxury goods. people aren't going to leave the rv lifestyle because there's a small tariff people that are a little wealthier may choose to buy a boat or something else >> contessa may not get that fur. >> that will not be my choice. a camper >> leave the tent behind and mover onto the rv. despite today's record highs

we're seeing in the marketplace, earlier there was a note of caution about what investors should expect from here. >> we have been at a peak for a while. i don't know how much longer this can continue. we have been saying it's at peak for a couple of years now and we've been wrong because it keeps going higher it's not going to be a heroic road but 2% is likely next year. >> michellmichelle, is there mom in this rally in. >> i think about it from an economic point of view i think from the economy we are seeing some better signals in the data both did tick up suggesting maybe last month was the low for the surveys.

there's still a lot to work through in term s of how the trade war is spilling into the economy. maybe the reason the markets have become so much upbeat is they are looking for signs the data is hinting in that direction. >> we're seeing those cyclicals here moving up energy, tech. those kinds of things. are you also seeing signs of optimism or are you seeing risks here that the market is not factoring in >> i think markets have ultimately become a little complacent i completely agree that perhaps we have seen a cyclical bottom in some of the economic data but we haven't seen signs of growth reaccelerating to comment on the clip you just shared a few moments ago, looking into next year, 2% growth, i agree it's stable but it's hard to get excited about that what's going to drive earnings growth even higher from this point, we just approach this with great deal of caution >> when you see the signals from

the bond market where ten year, 1.8% roughly german bonds, the highest since july, the steepest in three months or so, you don't buy that that's a risk on signal? >> sit a risk on signal. i think the stock market is telling you the same thing we continue to inch closer to a record high day after day. i question how much more this market has to run. i think markets have become very comfortable. i think a lot of the data has been priced in this idea a phase one deal will be signed between the u.s. and china is alleviating a bit of fears. the worst case scenarios is to brexit as a result of that markets are responding but what's been driving the market so far this year has been incredibly accommodative policy from the federal reserve. >> i want to back up what you're

saying we're running two from the third quarter. we're going to 1.5 now the atlanta fed is down. what i think is happening, i don't think there are many economists on the street we have michelle here but much visibility on the first quarter of next year the market is playing the fourth quarter like it's the bottom and we're going to go 2 1/2. >> we're tracking 1.5% we're right in the median. it's still pretty early. we don't have that many indicators we have some indications from inventory. i think we are reaching the low. maybe the low is in q4, maybe

q1 people are trying the look forward to what's happening next and saying is it the case we can become more optimistic about the next few quarters. so far the data isn't providing that much evidence should be optimistic but people are looking for those signals. >> how is the uncertainty affecting business investment? >> i definitely worry about this theory that the fourth quarter is going to be the bottom. i don't know last year at the fourth quarter was still pretty decent. we have seen a pretty consistent slowdown the manufacturer side is starting to stabilize a little i'm concerned about growth in the rv industry has always been the canary in the coal mine that tells people where we are in the marketplace. we started to see a slowdown late last fall and it's continued through this year. you look at manufacturer shipments and they are way down.

things have started to stabilize. i don't know if that means we're in the middle of it. it's going to get worse, better. this idea that first or second quarter of next year will be great. i don't see it >> i tend to agree i think the idea of being great is pretty difficult one. it takes time for us to be resolved even if we get some solution, it takes time for businesses to say it's the right time to invest. we feel a lot more optimistic about the outlook. >> thank you so much for joing us appreciate that. coming up, a lot of reaction to the big interview of leon cooperman. shake shack shares getting fried today. down 20% on the worst day ever a to restaurant analyst tells us ayitusstd.ut your money inea st wh

man: how can i deliver superior long-term results? it begins with a distinctive approach to managing money. that for over 85 years has focused on keeping confidence up when markets are down. an approach where portfolio managers work well independently. and even better together. who don't just invest, but are personally invested. can i find a proven approach designed to deliver results? with capital group, i can. talk to your advisor or consultant for investment risks and information.

welcome back shares of shake shack plummeting the restaurant posted disa pointing growth. chris, great to have you with us >> thanks for having me. >> part of the problem also with

same shack sales was a negative menu mix what happened there in terms of the mix in. >> so, the company had some very successful promotions. they ran last year and they were lapping those promotions and also you saw less delivery sales that they had been piloting tests with those sales and those sites started to slow as well which affected the mix >> they knew that was coming they predicted that could be an impact was the expectation it was going to be farless than what it was >> i think so. they communicated that they expected sales to be disrupted

consumers started to buy less shake shack on those websites. >> this is marcus. we know the food delivery businesses eat into the margin there's a pretty significant premium to get the product delivered. the shake shack's decision, in your mind, better because it allows them to negotiate a better deal long term with grub hub hub? >> it's a good question. i think it will undecided. we don't know yet. even though the commissions are better with exclusive relationship like this, we are finding that consumers still go to these other websites and they are not as loyal as maybe many people think we could still see some consumers hop to door dash and post mates it will depend on how many restaurant companies are participating on those websites. consumers like the variety of these marketplaces

you're going to afrattract a loo customers. >> is our burgers over saturated. it seems like the ones that have a bit of spark and growth seem to have some sort of chicken offering that's capturing the public's attention mcdonald's will now offer a chicken offering in 2020 or so you're recommending instead of shake shack investors go into wing stop? >> right the chicken sandwich craze is a popular trend and a lot of chains are starting to do that i don't think burgers will go -- i don't think you'll see a decline in burger sales but consumers are look for more convenience with fast food chains or the perception it's more convenient. i think you'll continue to see kiosks, digital ordering be popular within fast food chains. anything that will reduce the friction when the consumer interacting with the chain we're excited about wing stop's

outlook. it has a similar rate of aggressive growth. it has higher corporate level margin and the franchisees fund the unit expansion >> their user experience is pretty darn good the one that opened by my house. i can get in and get out pretty quickly. i think the unit discussion that you made and the margin you mentioned, shake shake has had a pretty rapid expansion once the stores mature i think you'll see that come back into fruition i wonder if some of that is short term prosecution -- pressure >> there's no question that shake shack is very compelling brand with consumers one thing that's different with wing stop is wing stop is a

highly franchised business model. a lot of the capital out lay is being incured by the franchisee rather than the company. >> thank you for your time the battle over billionaires once again heating up. coming up, wooem hee'll hear frm robert reich who supports senator warren's wealth tax. energy stocks getting a jolt all up more than 5% in a week. turn on my tv and boom, it's got all my favorite shows right there. i wish my trading platform worked like that. well have you tried thinkorswim? this is totally customizable, so you focus only on what you want. okay, it's got screeners and watchlists. and you can even see how your predictions might affect the value of the stocks you're interested in. now this is what i'm talking about. yeah, it'll free up more time for your... uh, true crime shows? british baking competitions.

hm. didn't peg you for a crumpet guy. focus on what matters to you with thinkorswim. ♪

by the way, she's the it wasnext mozart.g day. as usual we were behind schedule. 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.

welcome back the worst performing sector this year is showing signs of life. energy giving back earlier gains today but still up nearly 6% over the past three sessions the group topping the s&p in early november let's bring in the trading nation team. great the see you both mark, starting with you, the

charts show this is the time to get into energy. >> you definitely starting to see a lot more signs of improvement lately and the group is up 6.5% over the last month the third best performing group. it's the worst for the year. couple things going for it and you're approaching the time of year you will see reversion. energy being the worst performer. you could see a shift into energy between now and the early part of next year. you also heard talking about up side calls being bought and xle is encouraging you look at etfs like xop, this is one i would buy right here at $24 is a really long term line going back since the early part of the year. it could allow this to accelerate and this would should move faster in the event kruds moves higher the second one really hp that's a stock that's starting to bottom out. it's broken down trends.

looks attractive to me i think it moves to the mid-40s. definitely worth a look when technology might be peaking out. >> would you be a buyer of some of the oil producers of they suggest the worst is behind us >> well, i think energy is definitely been through a really tough time given sort of the expansion in supply because of technological changes in the industry however, you still have a little bit more to go in the downwards trend in oil overall you have non-opec players claiming they will be increasing their supply those are not great indicators for oil. i think the value rotation will start to favor value stocks and some of these companies are over sold relative to the oil price the actual oil price is still on

a downward trajectory. >> thank you for joining us. for more head to our website on trading nation ahead, the war on wealth rages on billionaires right here on cnbc, take on elizabeth warren's wealth tax you don't believe what jamie dimond said about it the nba jump sboog ting inte streaming wars the first sports league to do so robinhood believes now is the time to do money.

without the commission fees and account minimums. so, you can start investing today, wherever you are even hanging with your dog. ooh, like her. she's probably investing right now... taking charge of her money, making it happen. she's - not going to be happy about that pillow. it's time to do money, so what are you waiting for. download now and get your first stock on us. robinhood.

welcome back

here is your cnbc news update. gordon sondland confirmed to congress his involvement in laying out a quid pro quo to ukraine that he had previously not acknowledged he revealed he told a top ukrainian official that ukraine would not get american military aid unless it publicly admitted to invest giegigations of the bs that president trump wanted. the illinois family that was asked to switch tables at a buffalo wild wings restaurant because they were black are speaking out about the incident. >> at that point i looked at john right in his eyes and said, i don't know what's going on i've been informed by your staff this man is racist this couple was racist i will refuse to move because of the color of my skin >> a heartwarming story to tell you about. a 9-year-old boy in florida admired his teacher so much he

decided to give her cash gift. parker williams sent his teacher $15 from his own birthday money. he included a thank you note that said i don't think teachers get paid enough. will you accept this gift? the teacher sent back a note saying she cannot accept it but students like him are the reason she teaches. get the kleenex. i think i'm going to cry that's your news update this hour back to you. >> if he had taken that money and put it in a gift card, the teacher could have accepted it >> probably so s >> small things these are things you learn when you have twins in the first grade. let's check the markets. looks like the dow jones industrials are up 90 points or a third of a percentage. we were seeing it sitting through the flat line there and the nasdaq composite up. we're in record territory again

today. >> the company declined our request to go on camera and will issue a refund if there's a question about an item being real the stock is down by 6%. the battle of the billionaires continues after leon cooperman was brought to tears yesterday on cnbc. cooperman was and has been very critical of elizabeth warren's proposed wealth tax. warren is not backing down robert frank has all the back and forth for us hire and it continues. >> not backing down at all doubling down now after lee cooperman said i care. warren tweeting last night one thing i know he cares about, his fortune. adding that leon is a share holder in on a abusive student loan company the war of words over wealth

continuing today with other ceos saying the wealthy should not be ridiculed. >> i don't like vilifying anybody. i think we should applaud success for people >> america is not creating equal opportunity but that it's quote terrible to demonize the other side and that billionaires earn their success by creating something of value >> most billionaires have not worked to become billionaires. what they did is they produced things that people wanted. i didn't try to make, i fell in love with the markets and i made the market different people, steve jobs loved the game most people are doing it because they love the game and then they produce things that other people want that makes for a better society. >> another guy who loves the game paul jones saying companies

need to start focusing on how many employees do we have making a living wage relative to what i'm being paid as ceo? hopefully we'll start asking that question. this is just a subject that gets every one emotional. >> marcus, what do you think of this debate? >> i was hoping to avoid this one. i was hoping to avoid this one i have to tell you, this is -- i've never sddiscussed my political affiliation. it's not good for business i'm a big believer in social justice, as most people are, but i'm a big believer in rewarding people for their financial success and not penalizing them. the end of the day, wealthy people regardless of whether it's got a b in front of it or an m in front of it have built a fortune by taking a chance in this country capitalism built this entire marketplace. if we were finding wealthy

people not giving back and not doing other things, i guess i would understand it but i don't understand why you want to tell me what to do with my money. >> there was major tax reform that allowed wealthy people to keep more of their money you've got right now the total deficit, the federal debt up to almost $30 trillion. you have the u.s. treasury saying the federal deficit in 2018 went to 984 trillion up 26%. at some point something has got to give. what do you see wrong with a 2% wealth tax on money that is is more than $50 million. >> you want to shrink the deficit. that is elizabeth warren's proposal i'm not proposing that >> i don't want anybody shrinking anybody else mismanagement of money with my money. >> it's that simple for me and you know you guys know me well enough to know i take some of the wealth i've been blessed to accumulate but those are my

choices. i'm sure that a number of the wealthy people do that does that mean that we don't have people that deserve opportunities? does that mean we don't want fro vieds more programs for people to get on their feet of course we do. the answer isn't looking at one class of people that seems to be a pop you larular attack. >> our next guest says a wealth tax is needed. he's the author of numerous books. welcome. you do like the idea of a wealth tax. why should a wealthy person's money be taken by the governmen do pay for the mismanagement of the money by the government.

>> marcus argument could be applied to any tax at all. we had a progressive income tax since the start of the last century. if we want to talk about the merits of taxization, we could do that but i don't think that's the issue. i think a lot of people in this country, a remarkable majority of americans are in favor of elizabeth warren and bernie sanders proposal which is a turn around from 10 or 15 years ago when i was secretary of labor the idea of increasing the tax on the wealth, most people didn't like it that has changed since the bail out of wall street, since a lot of people began seeing that the economy was rigged in favor of big money because big money is finding its

way into politics, a lot of americans have changed their minds. that's why the wealth tax proposal is so popular it's not on millionaires it's not on people of $10 million. it's two cents on the dollar over $50 million as more and more of the nation's wealth has been aggregated at the top, right now we have something brand new. we haven't seen this since the 1890s. the top 1/10th of 1% of americans now has about 21% of the total nation's wealth which is not bad you have to do something about this we have a nation, if you have

any sense of patriotism, you have to do something about the problems of this country >> you argue that 60% of wealth today is inherited you say many of today's wealthy have never done a day's work in their lives. that number of 60% is different from every other number i've seen out there which puts it at more than 23% of inherited wealth the billionaires list on forbes, only about a third of them have inherited their wealth to say people like mark zuckerberg, bill gates, have never done a day's work in their life -- >> no, no. that's absolutely ridiculous i would go back and check that 60%. you do have a lot of aheirs now. you have some wealthy baby boomers in the midst of

transferring $30 million to their heirs. that's perfectly fine. i'm not saying that's bad. warren buffet is a nice man. he's a friend of mine. >> i have two questions for you. i know you didn't literally mean that people that are successful didn't work for it i want to clarify that for you and you can stop me if i'm wrong. >> let me clarify it for myself. i did not literally mean that people that earn x amount of money did not work for it. that's not the issue >> glad we're clear on that. >> the second issue i have is we all agree that we need a better infrastructure for our kun trco. we all agree we want more into our educational system and more

for people with opportunity. i think the bad idea really comes in when you start to create this line in the sand where you're going to decide who will get taxed and who will not. at some point i think you will move the line. today the line is at you have $50 billion or $5 billion and tomorrow it will be if it's a million. at the end of the day myself and other people that have had hard work and callous on our hands don't want to be told how to reinvest into the marketplace. over the last five years i've put $75 million of my own money into small business in this country to give people a chance. that's my choice not your choice and i don't want anybody making that decision for me >> i think in response to that, i would give you and a lot of other people will give you that support wealth tax is we have had a progressive income tax the more money you make, the larger percentage of your earnings should be taxed you can debate that. we can start over again.

that starts out of 1901. if you believe in a progressive income tax then we are talking about matters of degree. i am saying over $50 million, two cents on the dollar over 50 million takes a year that seems reasonable given the huge accumulations of wealth at the very top if you disagree, we can have one discussion if you disagree with that proposal, that's different >> i think what i'd like to disagree with isn't the concept of the progressive income tax, it's what problem you're trying to solve and how you're trying to solve it. we have an infrastructure problem and we have a deficit in this country that isn't driven by the wealthy it is true that all of us want to create some level of opportunity and equality for opportunity. i want people to work for it like i worked for it nobody handed me anything. it is true that progressive income tax does level the playing field to a degree.

the question is who determines it and what are you going to do with my money? if you're going to take my cash, i want a seat at the table i want to know what we'll be spending money on and where the waste is >> i understand that point of view are you arguing against the progressive income tax or this particular wealth tax? if we're arguing about a progressive income tax we want to go back 180 years, that's perfectly fine that's a different -- >> i want to reverse it. i have no problem giving tax breaks to people that are less fortunate. i have no problem with them keeping more money in their pocket the spin is we aren't going to give people a break but we will penalize people. what is being introduced is an ultra tax because i've come up with a great product, invented something, designed some technology that's changed human

kind forever and now you want to punish me for being entrepreneurial and taking chance on myself and other people i don't want to be penalized because the american dream is about taking the chance. >> i understand. these are the same arguments we heard in 1901 under franklin d. roosevelt. what is it new that you are arguing that was not argued in 1901 >> the vilification of wealthy people >> that's different. i am any vnot vilifying. i think wealthy people have -- they worked hard i think that they are proud and should be proud american citizens there's no reason to vilify. in 1901 they shouldn't have been >> listen, bob one last thing before we close

every american in this country aspires to be successful their definition would be determined differently i'll leave it at that. >> that's what they said in 1901 i want a new argument. we have got to understand that wages have been flat for 40 years. a huge amount of wealth has now congregated at the top >> bob, we have to go. i would love to invite you on another time we can have this debate with you in studio and i can hug you after. thank you. >> bye robert reich and robert frank. the nba becoming the new enstraentran entrants in the streaming wars ♪

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. tell him we're flexible. don't worry. my dutch is ok. just ok? tell him we need this merger. 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. ♪ not much, how about you? >>are you answering my text in person? i am...yeah. >>lol. come on in. this is tech that helps you be there. the nissan altima. now offering the most tech-advanced engine in its class.

the nba joining a crowded field or a crowded court with its new entry into the streaming wars julia boorstin has got all the details. >> melissa, that's right the nba is launching nba tv. this is a streaming service that brings its nba tv channel, which is owned by warner media, direct to consumers for 7:00 a month or $60 a year, subscribers will get access to a hundred live nba games as well as archive games and pregame and other shows. this new app is really designed for cord cutters people who do pay for a tv bundle can sign into the app for free with their tv subscription. now nba tv is just the latest digital effort from sports leagues. there's nfl red zone, which launched last year at $5 a month for mobile subscribers

mlb tv costs $25 a month and the nba already has nba league pass, which includes hundreds of live games for all teams for about $200 a year. they have a couple of different options there. remember, also going after cord-cutting sports fans is espn plus for $5 a month. and boxing-folks dezone for $20 a month. so, guys, so many different options here it is definitely a crowded court. >> if you're a sports fan it, sounds like if you went and bought all of those streaming services, financially you'd be better off paying for cable. >> but the thing is, people don't tend to like all of their sports equally you have nfl fans and baseball fans so there's really a lot of variability. and there are a lot of people who pay for the tv bundle and then also want to sign up for something like nfl red zone. >> you've got to wonder if this will put pressure even at the margin on the decision topbuy other streaming services maybe i'll do this and i'll do espn plus, but i'm not going to go hbo max for $14.99. >> you make a good point there

there's this question of how many subscriptions one person can have but disney is going to be bundling disney plus along with hulu, with espn plus so that's their play to get the sports fans who also want a little extra >> we know that content is king and that ultimately, controlling that content is the key. i think what a lot of these companies have started to figure out is that they see the funnel of audience that's out there the entire marketplace and want to make sure that every sliver of eyeball that's out there is brought into their funnel. and if they don't have a streaming service or an app that allows them to digest the information, it's one less opportunity to capture them in their sport, as opposed to somebody else's. >> and i think there's a big risk now so if you don't have cord-nevers, you don't give cord-nevers access to this content, you risk losing a whole generation of basketball fans. so it's better to risk this now. >> does this do anything to devalue the contract with traditional broadcast outlets. >> you have to remember, this is a channel that nba tv is a

channel being brought to consumers. and time warner is probably getting a piece of this revenue. a brand-new season of "the eak evw appears tonight and a snprieand much more with marcus coming up on "power lunch. woman: what does the word "partner" really mean? someone i can trust. (impact, click) who is with me for the long-term. who understands i'm dealing with lives, not only livelihoods. that in order to help people, i need more than products, i need quality support and insights. can i find someone who partners with me to achieve people's long-term success? with capital group, i can. talk to your advisor or consultant for investment risks and information.

talk to your advisor or consultant but a company develops a way by tto actually attack it.in, what drew me to capital allocation in health sciences was the potential to help many people through investments that help fund medical innovation. my team and i often choose to invest at the very early stages of human trials. investing lets me use everything i've learned as a doctor to help make a positive impact. so that's why i go beyond the numbers.

the amount of student loan debt i have, i'm embarrassed to even say. we just decided we didn't want debt any longer. ♪ i didn't realize how easy investing could be. i'm picking companies that i believe in. ♪ i think sofi money is amazing. ♪ thank you sofi. sofi thank you, we love you. ♪

welcome back to "power lunch. tonight at 10:00 p.m., season seven of"the profit" kicks off and in a new episode, an old problem rears its head marcus is working with a struggling restaurant in new jersey and working his owner to teach his team to stand on their own two feet >> so how much did you do last year in revenue? >> about like 460 -- >> i don't want an about i want the exact number. >> did you guys add it up? >> well, year-to-date, for -- >> from january '18 to december '18. vus you should have it in the book i got it right here. >> before that -- >> i got it right here >> january '18 >> what are eyou doing? >> you want to see where we're at currently this is week by week, the big circle number is what we did for

that week. >> here's june '19 >> it's almost as though they've never seen one och yof your shos before but in theat any rate. this season, you say you're trying to do things differently. >> before, we've made consistent investments where we write a check and buy equity as new businesses were applying, they had different needs and i also feel like the viewer and the students around the country want to learn what are other ways they i can invest can i give people a line of credit can i buy their real estate? what are the other ways that i want people to think about investing? and in this particular case, while that was a funny clip, it's not really a funny episode. these are 9/11 survivors they lost their mother and their wife in 9/11 and they took the proceeds from that loss and invested nit a p eed in it a bu what the father and son said to me, if this restaurant goes away, the memory of my mother is gone forever so this american dream that we

all fight so hard for every day on this network is so important to me that sometimes i don't even need to take equity you just help them out >> you said in the promo, that one thing that you've learned is to go more with your gut in what way? >> i think i got two emotionally invested with some of the folks. and i made some really bad decisions and invested in things that i never should have and my gut tells me one thing and my heart usually tells me another. and i know in today's day and age, you're not allowed to have a heart in business. unfortunately, i just don't subscribe to that. >> this is a hard example to not have a hard about. to save this restaurant, save the mother's memory. >> you're going to help them who doesn't love their mother. i love my mother to death. time going to do whatever it takes. >> it's good >> they pulled that notebook out. were you shocked >> i told them it, looked like they were actually bookies my dad used to be a bookie, i'm not embarrassed to admit that and used to run numbers. if you ever meet a bookie and placed a bet, they open up this binder and it's literally like, john, susie, $20 --

>> but it also doesn't run like that anymore >> it runs with a pos! let's keep track of stuff. >> right >> hey, melissa. >> hey, contessa >> if life gives you limonas, you make it limonas lemonade >> that's right! >> thank you, marcus we, for joining us on "power lunch." thanks for watching. >> don't forget "the profit," tonight. welcome to the "closing bell." i'm morgan brennan in for sara eisen at the boeing post that stock is up 2.5%. you'll hear more from the company's chairman on his defense of boeing and its ceo in just a moment. as for the broader market, we're hanging on to record highs here for the dow, at least, with just 59 minutes left to go. >> i don't like the music, morgan, we're going clubbing i'm brian sullivan in for wilfred today. let's take a look pat what is driving the overall action and those new numbers, like morgan just talked to you about you have reports out there that the china and the u.s. are ar