like a mini warehouse. it uses autonomous carts to retrieve shelf food and frozen goods that consumers order online once the alpha bot requested items and has them in hand the items are sent to a work station where an employee checks the order for accuracy the alpha both cuts the time to traditional picking done by humans walmart said employees will continue to pick fresh produce by hand. that does it for us on the exchange "power lunch" starts right now becky, thank you very much great to see you in th afternoon. welcome. i'm tyler mathison stocks stage a major rebound after iran retaliated against the united states by sending missiles into military bases in iraq but we'll tell you how to protect your portfolio no matter what happens next. plus moments after the attacks a deadly boeing plane crash in iran. killed everyone on board

reports of a technical glitch. we'll have details on that story. later former nissan head carlos ghosn breaking hiscy loens and boy did he ever in an animated press conference that went on and on and on and did it after a james bond-like escape from japan. what did he say and what he didn't say "power lunch" starts right now and welcome to "power lunch" i'm contessa brewer. right now stores surge dow up nearly 200 points as you can see up more than half a percent. s&p and nasdaq also in the green and nochg ntching some new reco. we got google, mastercard, lowe's up more than 2% tyler? >> contessa, iran launching a

missile attack overnight in retaliation for the killing of major general qassem soleimani it targeted two air bases in iraq that house u.s. troops among other individuals. no reported u.s. casualties. iranian foreign minister tweeting they do not seek escalation or war, president trump echoing that sentiment earlier. let's go to eamon javers for the details. the president says that iran appears to be standing down. >> reporter: that's right. you mentioned the two key points the president made one no american or iraqi casualties in that iranian missile strike last night. then two, the iranian military apparatus appears to be standing down here so you think the time of danger here may have passed, at least in the short run. so that, obviously, for the markets very good news the president used the opportunity here at the white house to call on nato to step up and be more involved in the anti-iran jan effort that he's

trying to lead and also had this to say to nations around the world. >> iran must abandon its nuclear ambitions, and end its support for terrorism. the time has come for the united kingdom, germany, france, russia and china to recognize this reality. they must now break away from the remnants of the iran deal. >> reporter: so that raises the question what exactly does the president want nato to do here is he talking boots on the ground what role does he see for the military alliance against iran what i'm hearing here inside the building is that the president is not necessarily calling for any specific commitment by any nato allies, but that he would like them all to step up whether that's in terms of troops or financing or in terms of equipment, the president, i'm told is willing to leave that up to the individual nato allies

but does want more of a commitment the president making a comment about new sanctions on the irani iranians the big question is what is left the to sanction in the iranian economy given there are heavy sanctions already in place by the united states. one thing to think about are secondary sanction, one possibility here is that the united states could go after those countries that have been doing business with iran and sanctioned them. >> thank you very much as for the markets the dow trading higher by 200 points the nasdaq and s&p 500 hitting records. just shake it off any fears over iran's retaliation that some futures last night pi miss is at the new york stock exchange with more on why the markets don't seem that concerned, bob >> reporter: there's some good reasons for that what a wild ride it was. the iranian crisis stopped the rally for four days and that's now over this is a 50-point move in the

s&p in one hour last night and this is what happens when you have movement on incomplete information. out goes sold on incomplete information. when everybody realized they didn't have the right information, complete round trip 500 points on the dow in about two and a half hours quite a move we had a month and a half of volatility in an hour and a half crude same situation 62 to 65 and all the way back to 62 and below that now you can see we have very weak crude inventory levels this morning as well we're back down to where we were the important thing now the market will start looking at earnings and sales i like what i'm hearing. walgreen's was a little bit of a disappointment constellation better than expected lennar, good numbers macy's okay. maybe to comps but better than expected overall samsung gave some preliminary commentary on their cash flow

numbers that were better than expected this is exactly what you want to hear you want to be better than feared for earnings season for the first fourth quarter new highs. usual suspect. apple is back, so is google, adobe, facebook. some discounters also back on the new high list. about 200 on new york stock exchange ross stores tjx, lowe's and other big names that are at new highs. overall markets are sitting in a very good position back to you. bob, thank you very much the markets do clearly believe statements from both president trump and iranians they are trying to de-escalate the situation. are investors breathing a sigh of relief too soon with us now is michael rubin a mideast scholar. to that point, the iranian foreign minister said that this concludes the proportionate

response phase of our proportionate response to what happened earlier last week with respect to general qassem soleimani. do you think that they are done exacting a price for what happened >> i think they are done in the short term but let's keep in mind that the iranian foreign minister has about as much control over iranian security policy as the municipal dog catcher does the decision to retaliate or not will be taken in the office of the supreme leader and among the islamic revolutionary guard corps. what made last night's missile strikes interesting was usually when iranians retaliate they want plausible deniability this had the return address being iran there is no plausible deniability. when the real retaliation comes and that will be months away i expect iranians won't claim responsibility >> months away, not traceable to

the state, could be some form of proxy. what form do you expect that retaliation to take? >> keep in mind as we consider all the possible scenarios it highlights the fact that both the islamic revolution guard corps and hezbollah truly have global reach in 1994 hezbollah struck in south america. hezbollah networks are very much at play in western africa. simply put i would be much more worried being a diplomat in bangkok, thailand than beirut because usually when this sort of retaliation comes its where we're most soft and where we least expect it. >> we already are hearing the to ayatollah to say american presence is unacceptable given that, what should american companies who have a presence in the region be thinking about

protecting their facilities and protecting their people? >> well, i mean certainly anyone who is operating in the region should be in close coordination with the security forces which are operating in the countries in which they are working. if you're in emrates you should be in close contact with them. one thing to be said for the arab regimes they have very professional and competent security force and i'm sure they will be keeping track of any potential hostile iranian actions. >> how do you see right now the back and forth that has gone from iraq in the united states in terms of threatened sanctions there, whether they are cooperating with the iranians. what happens with these other players in the middle east >> well, the biggest concern among many of the states in the middle east, iraq excepted is that the americans might actually go in halfway, stir in the hornet's nest and leave them

around to clean up the mess. with regard to, i the situation is more comply indicated even more so last night the bases that iranians hit with ballistic missiles were not american bases they were iraqi base where some americans were co-located iraqis say your response to americans violating our sovereignty is doing what the americans did. iraqis are taking the attitude of a pox on both your houses >> eamon javers said the president raised the idea of raising sanctions on iran and he asked the question what's left to sanction? so, i pose that question to you. what's left to sanction or who else could the united states sanction as a way to get at iran >> well, with regard to money of the sanctions, one of those issues that could be brought up is international air travel into iran to isolate iran further we can talk about secondary

sanctions in many cases those sanctions already exist and when it comes from a business perspective one of the reasons why french business, german businesses, japanese businesses are holding to the sanctions even against the desire of their own diplomats and elected officials is because, of course, companies answer to their shareholders rather than diplomats and not going risk multi-billion dollar fines >> thank you very much adding to the tensions, boeing 737 leaving tehran for ukraine crashed. all 176 people on board were killed this video may show the final minute of the flight a ball of fire flying through the air. the airplane then exploded seconds after hitting the ground the video was shared by a news agency run by iranian students i want has not been verified by nbc news let's go phil lebeau for more details on this developing story. there was even some back and forth about what caused the crash in the first place

>> reporter: right initially there are reports there was a mechanical problem or engine failure. let's be honest. whenever there's an airplane crash those initial reports 99% of the time are way off. you have to let the investigators get in there here's what we do know this ukrainian airlines flight was flying from tehran to kiev but didn't take off for too long there's been reports out of the iranian news services that the country may not turn over the black box to investigators, which then brings up the question, wouldn't the ntsb, wouldn't boeing be involved? typically yes but these are not normal times when it comes to iran and diplomatic relations. as you take a look at shares of boeing it was down more pre-market as we were just learning about this crash. it has come back a little bit. keep in mind, cowen out with a

downgrade of the boeing. cowen said the max costs continue to rise therefore cash flow will be weighed upon more than previously expected the that's likely weighing on the stock more than anything >> thfis was a 737 version how close it is as a piece of aircraft to the 737 max? >> reporter: to the max? it's the version right before the mack they started building in this 1996 and then in 2011 realizing that they had to couple with a more fuel-efficient version of the 737, boeing said we're going to come up with the max. they built that up until i want to say the beginning, maybe first half of 2019 there were still a few in the pipeline then. but they built about 8,000 of them and i want has a strong safety record in terms of how many are used around the world and how well it does >> all right phil, thank you very much.

coming up, carlos ghosn holding a wild two hour press conference in lebanon, explaining his reasons for leaving japan in a box more on the story everybody is talking about. i don't blame him for sweating plus the president calming tensions over iran and sending stocks soaring to record highs but does that mean worries are overor do you still need portfolio protection what you nd eebe doing with your money right now. we'll be right back. ♪ ♪ ♪ ♪ don't get mad. get e*trade, dawg.

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welcome back the former head of nissan, carlos ghosn broke his silence with a very animated two hour press conference in beirut, a week after escaping japan where he spent more than a year in custody. here's part of what he had to say. >> i was left with no other choice but to protect myself and my family. it was a difficult decision, and a risk one only takes if resigned to the impossibility of a fair trial so i can tell you that it's not very difficult to come to conclusion, you're going to die in japan or going to have to get out. i am innocent of all the charges. all of them. and i can prove it now because i start to have a lot of documents and there are many more documents to come. i would be ready to stand trial anywhere, where i think i can have a fair trial. anywhere >> the great escape has captured

the world's attention. great to see you today what do you make of the fact that he was in such close supervision in japan and yet was able to escape his home, hop on a train, get osaka, get on a plane, make it through turkey to lebanon? >> well, apparently he wasn't at that close of supervision at his home in japan anyway normally when you hold someone without bond by he was being held for a year without bond they are eat ear flight risk or danger in this case i assume because he was a flight risk. why did that change? if it did change then you at least have some sort of security put in place at his home if you can't afford the resources you do electronic security and japan, one of the leaders in the world in electronic technology does not have the technology to put ankle

bracelets on people. that seems absurd. in any case they were asleep at the switch in terms of monitoring ghosn and his ability to then get out of the city through planes, trains in a automobiles was pretty easy after he got out of his home once he was out of there and he got on train not noticed, flew to turkey, then it was easy from that point on. >> jeff, interpol has put a red notice on him. what does it mean and can they force lebanon's hands where carlos ghosn is concerned? >> red notice is by interpol is not an order, it's a request for any country that's in the interpol system to take an action in this case the action would be to take somebody into custody. it's doubtful lebanon will act on that request, the red notice, because ghosn is a citizen of that country and they have shown in the past and have indicated that they are going to protect their own citizens unlikely they will act on that notice or at any point in the

future have him taken into custody and extradited back to japan to face charges or any other country. >> is point the japanese wanted him to escape? >> wow i can't imagine any situation where they would have wanted him to escape unless as he stated in his press conference today these charges are more political in nature or trumped up charges and they didn't have a case that they could, they can win in court. maybe under that scenario you would think that it's possible they wanted him to escape so he wouldn't have to face trial. that's really a kicking this whole thing up a notch >> when he left tokyo he traveled to osaka by train and wasn't surveilled? >> right apparently they did not have surveillance his defense attorneys were responsible for providing woe i according to reports, errors about his whereabouts about

every month which is a little lax to me. >> there are reports that nissan had people surveilling him as well they missed his great escape now they have gone back to keeping an eye on him in lebanon because the house where he's staying is actually owned by nissan and nissan is in the legal process of trying to evict him from this house. do you think there's any chance here that nissan gets its way in forcing him to justice somehow >> probably not. so because he's in london, even though he's living in nissan's house, he may be removed from the house but probably got the wherewithal and financial resources to live anywhere he wants to the funniest part of the escape is not the train trip because i guess some reports indicated he was allowed to travel in japan others have said he can only be in tokyo in any case after the train he got in a taxi, a common public

taxi to go to the airport where he flew to turkey. >> there have been reports that he was aided by a security consultant with u.s. connections or a former u.s. green beret how many companies are like that around the world in case i need their assistance how many companies are there and how do you find a person who can get you from that kind of a situation? >> so, tyler, those type of people exist all over the world and they consider themselves experts in removing people but normally under situations where they are being held against their will we're talking about kidnapping case they specialize in that. they train for that type of thing. those type of techniques may be used here whereas officially he was being held as a victim, maybe sort of a kidnapping victim but those people are all

over the world that can do things like that he found obviously the right people to help him >> jeff, thank you so much for that i'm curious what you have done that you might need. i'm just curious you never know let's take a look at the price of oil, down 5%, below $60 a barrel as tensions seem to be put on the back burner lower than where it was when iran began to escalate more on oil coming up. plus beyond meat shares lost two-thirds of their value since their peak at the height of meatless mania but it's clearly a trend not going away if you sink your teeth into this stock? "power lunch" will be right back created by apple, not a bank. with a better way to track where you spend. a new level of privacy and security. daily cash you get back every day. and no fees. not even hidden ones. oh, and if you happen to be somewhere

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welcome back to "power lunch" i'm mike santoli at the new york stock exchange beyond meat up 10% this week on hopes it could secure a supply deal with mcdonald's after the fast food chain talk with rival impossible foods broke down. the stock could go above and beyond in 2020 setting a $130 price target let's bring in your trading nation team today, jayson o'hara

and danielle shea. a wild ride. the fever broke on that real speculative phase but where do you see the stock at this point? >> looking at the short term pattern northwest say. the stock has been pretty much sideways and trading in a relatively narrow range. let's remember this is still a relatively new issue any time we start to see alfred e. neumans come in to play we typically see a pretty volatile reaction earnings has been a pretty strong catalyst. we've seen absolute moves of 40%, 12%, and 22%. we have the next earnings date set for february 14th. i don't expect this tranquil sideway price action to last too longer as we set up for alfred e. neumans to be released. >> danielle, obviously the question surrounding this company just has been exactly

how big is the opportunity in plant based meat substitutes put that all together how would you play this? >> well, i agree it's incredible volatile especially in the short term however in the long term i think they have huge potential when you look at the niche market they created no one has been able to create a burger like this that's good and that appeals to meat eaters meat eaters like it because it tastes good, healthy, smaller he could l -- ecological footprint all right. looking for a way to play the short squeeze clearly to the upside if it happens thank you both we'll keep watching this one for more trading nation head to our website. contessa, back over to you

markets at record highs as both the u.s. and iran seem to be de-escalating tensions. are there risks still for investors? plus more trouble for softbank first wework and then wag and a robotic pizza company. we have details on another of its unicorns stumbling risky business companies paying a premium to protect themselves from a growing number of lawsuits this could end up hitting the ipo market the hardest all this when "power lunch" returns. >> announcer: now the latest from trading nation.cnbc.com. - at southern new hampshire university,

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welcome back, everyone i'm her. here's your cnbc news update canadian prime minister justin

trudeau vowing to get answers from iran less than a day after a ukrainian national plane crashed shortly after taking off from tehran. all 176 people on board were killed on that boeing 737 800 including 63 canadians canada no longer has diplomatic relations with iran and hasn't had an embassy there since 2012. a military rescue operation is under way in australia to save wild animals. veteran unanimouses are treating koalas new jersey authorities busting a multi-million dollar crime ring that doctored common candy into marijuana edibles two dozen people have been charged in connection with the scheme which reached into new york as well and prince harry and meghan markle are planning to step back from their royal duties and become financially independent they intend to balance their

time between the uk and north america. the move comes as speculation of tensions twin royal family continues to rise. you're up to date. that's the news update at this hour ty, back to you. >> interesting twist i guess they had enough of the royal life and paparazzi that goes with them >> the grant that the royal family gets is up and there's been some tension between the public, government and royals over that. they definitely included that phrase i found that interesting >> all right bring them to new jersey where the candy is just like marijuana. all right. kidding. >> i know you're kidding >> we don't need any more royals i'm surrounded by royalty here we're near session highs the dow is up 200 points while the s&p and nasdaq reached new highs at least earlier today

major reversal from last night when the futures were down 400 points on the dow. contessa >> time now for today's power movers we start with all greens which is holding back the dow from bigger gains i want missed on earnings and revenue saying same store sales were hurt by a decreased emphasis on tobacco. shares of grubhub surging double digits on report that they are considering strategic options including a sale that comes amid increased competition. shares are down. smile direct club announced expansion into hong kong that's up 10%. crude collapsing hitting its lowest level in a month as tensions with iran ease at least for a day. let's go to kate rogers at the cnbc commodity desk. >> reporter: updates on the situation in iran moving oil today with prices sinking after

president trump said iran appears to be standing down in the middle east adding d.c. would impose sanctions on iran instead of another military strike now both wti and brent had moved higher on news of the attacks against bases housing u.s. troops oil is shedding its gains from 2020 with worst daily performance since end of november trading below $60 for the first time since mid-december, brent is also posting its worst daily performance since september. back over to you much of wall street feeling like a crisis has been averted stocks rallying to new highs as president trump says iran appears to be standing down following the attack on iraqi bases that house u.s. forces last night but with stocks making a 600-point move in less than 24 hours what can you buy now to keep your money safe and protect or it is really all clear ahead? let's bring in chief investment strategist with oppenheimer and

steve grasso john, let megyn with you i was quite surprised on thursday and into friday that markets didn't react more radically on the news that soldier had been assassinated or been put away. is the market just smarter than we think it is >> it's better at discounting dramatic information that it has been as ever as i can recall it's behind the resiliency we see in the market. initially you'll see, for instance in the oil market will react fairly violently to something like this overnight. when it's actually considered, and considered very quickly the market is quick to discount what has occurred and shows a resiliency that really is uncanny but is also marked to this recovery we've seen since march 9th of 2009.

>> as you look at the investing landscape right now and saying what you just said, in other words the market is better at discounting risk, does that mean that i need to be less worried about quote getting defensive in my portfolio at times where i perceive there to be greater risk >> we think so we think it's important to know what you own and why you own it. it's important to separate the difference between savings and investing, investing a longer term objective, have an idea what your goals and objectives are, your risk tolerance for instance during this period from friday through monday when we published on sunday night our weekly piece we said we're sticking with the cyclicals here, that we expected that this would be discounted by the market within a few days a little bit early we thought it might be wednesday or thursday or friday by the time we got discounted but it looks like this has been discounted some of it is the digitalization

process of news. everything is quickly reported the analysis is very quick and communications between governments, even in situations where there's not great relationships through intermediaries is remarkably sound in just the last 24 hours. >> you've seen oil go up and then moderate. you've seen gold go up steve, i know you like john also like cyclicals you're getting more specific about chemicals and paper. >> yeah. to john's point these are trading at valuations. anyone who wanted to sell these cyclical names has been given a chance to sell them. everyone still rushes in to tech i like a name like westrok tse. they are all just getting hit and hammered and to john's point when does the market say okay let's bet on cyclicals that the global recession is not coming so they keep usualing into these

tech names and relief rally like this doesn't help our case but i believe the time is in short order for that to happen >> we were seeing experts coming on talking about energy being an opportunity then crisis with iran hit how does the that play into how you see this playing out over three month, six months, the full year. >> even people, even funds that are long energy, always bullish energy said to me yesterday it was overdone so we're still in an over supply world right now when it comes to energy we out produce saudi arabia. who else russia and who else go down the list we're the top producer we haven't seen that since basically the '80s so, for me, this is not the time to be long energy. i would other than a trade i would exit those energy bets but i would be long gold the time to be long gold is now.

>> all right thank you very much. steve grasso, john, thank you so much for being with us to the bond market rick santelli tracking the action at the cme. >> reporter: two day charts on a day like today are so revealing. considering that basically the algos made all markets go down we dropped down to 170 tinting thing is outside of the most recent rally pushing rates up we ended up opening in our time zone just about the same spot we closed look at two day bunds. different scenario their cash market was closed when iranian missiles were flying they kept extending. if you open the chart up they've extended the point now where they are looking as though we potentially could have the best yield closes in a long time against the ten year it's now getting close to 200. goes to a 20-month narrow on the relationship

finally let's look what's going on with regards to the dollar, dollar index is at the highest level since the day after christmas we'll call it two weeks. back to you. up next a new year means new changes to the tax law we'll tell you what you need know to protect your money and maximize it. softbank's latest start up slip up zoom the company that made a splash with automatic pizza maker is now sshg laina big portion of its workforce hold the pepperoni "power lunch" will be right back

another softbank back to unicorn stumbling. zoom valued at a billion dollars announced major job cuts >> reporter: that's right. robotic pizza no more. in shutting down that business zoom is cutting 360 jobs and that accounts for about half of i was total workforce and embracing food packaging this is an area that has seen better traction. the start up ceo and founder alex garden told me today was a difficult one but looking

forward to focusing on parts of the business that are showing what he calls explosive growth now as contessa mentioned this is another stumble for stoft bank vision fund which invested $375 million into zoom now like other softbank backed companies that growth at all costs model is no longer being received quite as well especially after wework's high-profile stubble and uber's disappointing debut. over the last few months they've seen a number of their portfolio companies announce layoff and executive changes. zoom is the latest now as for the soft bang relationship, though, garden tells me reports that there's any acrimony is incorrect. thank you very much. a new year brings new opportunities to save more and reduce your tax burden cnbc has partnered with acorn on a financial wellness and

education initiative called invest in you ready, set and grow here's how to make the most of tax changes for 2020 >> a few you may have heard of but may not know the new limits. boosting saving limit is the goal for many u.s. adults. many admit they are stressed about it to help ease the anxiety figure out how much you could save and how much it could save you in taxes. in 2020 you can put away up to $19,500 in your 401(k) and if you're 50 or older add another 6,500 with a catch up tricks for a total of $25,000 these limits are the same for roth or traditional 401(k) and contributions to a roth are made with after tax now under the secure act which was signed into law in december part time employees who work over 1,000 hours a year are

eligible to participate in their company's 401(k) plan. the limits for individual retirement accounts will stay the same in 2020 at $6,000 if you're 50 or over put in an extra $1,000 or up to $7,000 total. another change this year thanks to the secure act you can contribute to a traditional ira forever. and for more on 2020 tax tips go to cnbc.com slash invest-in-you. so when it comes to retirement accounts is there a percentage you should be putting away >> well, of course you should put away enough to get the company's matching triccontribun so as you're trying to figure out that percentage that you're going to have taken out of your pay for your retirement accounts make sure you understand what

your withhold is on taxes and go to the irs website and they have a calculator to help you figure it out great advice from bad deals to bad behavior there's so many reasons a company could get sued today a case being decided could have a major iacmpt on shareholder lawsuits in the future the story is coming up on "power the story is coming up on "power lunchfrom having your skis,cks snowboard and luggage shipped from your doorstep to your destination. with unrivaled pricing, real time tracking ship skis delivers, hassle free. ship ahead and go catch those first tracks on fresh snow. ship skis. your skis. delivered.

here we are 2020, and for u.s. companies the risk of being sued has skyrocketed the price of insurance has risen with it, especially the cost to cover your board some companies are seeing their premiums for directors and officers insurance kwaquadruple. the number of companies getting sued has soared 150% the last decade some are cyberattacks and me, too. those events can then cause share prices to fall, leading to securities class action lawsuits and then derivative suits that accuse the board of failing in their responsibilities take wells fargo, which settled

for a record $240 million. the lawsuit alleged executives on the board failed to stop the opening of millions of bogus customer accounts. insurance paid the whole $240. that brings us to the delaware supreme court, where today a judge heard final arguments in a case involving blue apron, roku and stitch fix the decision could dramatically change how shareholders are allowed to file class action suits. inside for today's hearing, prya, great to see you why does this matter not only to blue apron and stitch fix and roku, but to companies nationwide >> on it's face it seems like an obscure little case that's about whether ipo companies will be sued in just federal court or in a lot of state courts at the same time. what's at stake is access to the find of growth capital that allows companies to do things like create great jobs and

shareholder value, and that's because if this litigation persists, the cost of the litigation is so high that the insurance becomes completely unaffordable, and that will end up choking the ipo pipeline. >> so basically these companies are arguing that they should be allowed to write into their charter documents a mandate that shareholders have to file in federal court, as opposed to in state court where juries might work in their favor. how does this affect insurance prices >> reporter: that's exactly right. it's not new that ipo companies will be sued but because it's a federal supreme court, u.s. supreme court case in 2018 that changed the landscape, those companies are being sued repetitively and du publ duplicatively. that's what has caused the price of this insurance to escalate so dramatically if we win this case in the delaware supreme court, we should expect companies to

immediately start putting in these provisions, federal form provisions into their by laws, and that will mean it will go back to what we're used to of course if shareholders need to sue, they can do that, but just in federal court. >> what impact does the skyrocketing number of cases and size of the settlements do to the ipo market in general? >> reporter: so i've been talking to a number of clients, and what they say is does it even make sense to go public and that's obviously bad for corporate america. a quick example, contessa, if you are a small mid market life science company, you're planning to raise $100 million in an ipo so that you can fund research, now suddenly you're being told that, well, that's great, but you're going to have to put aside, let's call it, $10 million for your deductible and another $5 million just in insurance premiums, so that you can have insurance for your

directors and officers when you go public. now, the price is because there's so much expensive litigation, but you can see in my example why executives are saying, hang on, does it even make sense to go public. it's a little bit crazy that insurance would be the reason you wouldn't go public. >> the sectors that are most likely to be sued as ipos are biotech, new technology, some retail and health care would these companies all be able to get this kind of insurance? >> so to date we have seen insurance markets continue to provide insurance, but what you're alluding to is absolutely right. capital is leaving insurance insurance carriers do not want to put up insurance for these kinds of risks and it's because it's a loss leader for them. >> thank you so much for joining us outside the courthouse. i know that that hearing was really important to your business and we appreciate you sharing your expertise with us

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♪ when you use location technology, you can see where things happen, before they happen. ♪ with esri location technology, you can see what others can't. ♪ today the market is confident that the worst is behind us in the short term with our tensions with iran the nasdaq and s&p at record highs and the dow about 60 odd points away from it. >> and oil down 5% after some ratcheting down of tensions in the middle east as well. >> watch the next hour, because

the final hour of trading could get volatile, though there is nothing on the headline watch that would suggest that it would be any more volatile than normal. >> any more compelling than carlos ghosn thank you for watching lunch. >> "closing bell" starts right now. we are at session highs, up 235 points on the dow with 59 minutes left of trade. we start with breaking news and a dramatic one on one interview with carlos ghosn, long-time nissan chairman speaking out about why he decided to flee japan over charges of financial misconduct. prosecutors claim ghosn misstated his compensation and funneled company assets for personal gain. ghosn has maintained his innocence since being arrested in november of 2018 and he just sat down with cnbc