>> could stop on monday. >> uber, i bought it in the middle of december it is up about 15 aboutme.5% ye date and i start to think about maybe turning it into an investment. >> and i trade that hd that oney and "the exchange" starts now. >> thank you, scott. welcome to the exchange dow 29,000 was here but that may not be the number that you want to pay attention to in this market we'll tell you what that number is and why it matters so much to your money plus clowns and monkeys. not words that you want to hear to describe airplane engineers, but that is exactly what boeing employees said

details on some damage oning ina emails there and we'll talk about all that and more. but let's begin with today's markets. and we had dow 29,000. so briefly so a new record, but not there right now. >> we started on a high note and the dow hit 28,000 on november 15th. so that means that less than two months to get to 29,000. but to your point, we're at 28,883 down 72 points. so we're actually at the lows of the session. s&p 500 and nasdaq also lower. what is leading us to the down side is the industrials. general electric, deere, even some defense names pulling back from the highs r 3 ha l 3 harris down 1% beyond meat now up nearly 30%, so track for one of its best weeks in honesties and it comes after mcdonald's tested its beyond meat locations at more locations. another report from reuters that

its competitor impossible foods was dropping efforts to make a deal with mcdonald's the stock up another 7% putting all of it into context, the stockstill down about 60% from its all-time high. >> all right thank you very much. so let's begin your news friday with today's jobs number u.s. economy added 145,000 jobs overall last month unemployment stayed low and it wasn't all milk and honey. manufacturing jobs number continued its decline. so wheth will jobs grow or go in 2020 let's bring in steve liesman and andrew chamberlain steve, start with you. a goldie lox number or more negative than good >> it depends i hate to say it on what happens next month 266 in november.

way out sized, blowout report. so a little give back. and looking into the detail, i see a little softness in there one thing that i'm looking at is hours worked and that has been trending down. there are things in there, both the wage number and the hours worked that tell me that there may be softness underlying the jobs market. not the kind of tightness that you would expect with the unemployment rate where it is right now. so i'm going to reserve judgment and want to see what happens with the trend here. because you had these two very disparate months here. i don't like some of the softness i see in december but not yet ready to pass over >> and if there are three workers going for the same job, the employer has the wage power. if there is one worker going to three job, theoretically the employee would have that wage power. but yet wages are stubbornly stuck. how come >> well, this jobs report was kind of a microcosm for the entire last decade middle of the road job gains and

pretty disappointing pay growth. part of the reason that you see pay growth last month is when you add a lot of retail jobs, most are low paying roles. and this is likely to bounce back in january and february when a bunch of minimum wages kick in at the state level on glass door when we hold the composition of jobs steady, we see steady pay gains and slightly up. so i think this month was likely a blip >> and when you take away the manufacturing jobs, that tends to keep a lid on wage growth but i'm going to agree with brian on this in the sense that you do not have wage behavior that is com men surratt wimensu we're seeing in the jobs market. there is a differential between the workers and the bosses in terms of pay raises there. one issue might be you have these tax incentives, payments as incentives after the tax cuts, those are rolled off

>> and how do we calculate the numbers? i ask about health care because let's say a company x can afford to give everybody a 10% raise effectively. but the health care premiums go up 8%. well, you are paying all the, quote, raise in the health care premium. so the worker is getting a bigger benefit, but they don't see it in their take home pay and think that they are getting shafted. >> compensation is a big pay it is to the just the paycheck, it is all the benefits, retirement plan, health insurance, paid time off and everything else. so there has been a recent shift in recent decades away from cash because it is taxed toward nontaxed benefits. and rising health insurance is essentially more of a compensation cost, the employer has to pay it, it leaves them left cash leftover to pay wages. so definitely part of the story. >> and your initial question of it being goldie lox, from a

february point of view, i think that it is you have decent job growth this number 145, let's remember, is at least 50,000 above the high end of the entrance to the workforce from a demographic standpoint we talk about the people entering the workforce we're putting those to work and we're even drawing some in at a level like this. without the wage growth -- look, the fed actually wants to see some wage inflation. hasn't really been he seeiseein. so this speaks to the fed on hold and gives it even more breathing room i don't know when we start to think about 2021, but right now the odds is that we're on hofld through t hold through the summer and maybe the rest of the yeerthe yr >> sounds like you are already thinking about 2021. steve, andrew, thank you very much all right. let's turn now to your money the dow hit 29,000 in earlier trading. pretty momentous occasion. but maybe not the key number

that you want to watch if you look at the weight of individual stocks in the s&p 500, the top one, apple, microsoft, alphabet, amazon and facebook those five stocks make up 17% of the s&p 500 weighting. think about that about a sixth of the entire pie. if anything were to happen to those companies, could the rest of the s&p go with them or make it up? with us now, a legend himself, dwreblgts to director of technical research and also michael schumacher at wells fargo. ralph, the technicals are in the favor, i know that we will get to that. however, is there anything to this idea, and we've talked about it maybe a broken record, but when you have got this hugely top heavy market, can the overall markets continue to go up if those five stocks for whatever reason eventually start to get sold? >> well, the problem -- the

critics are right when they say that it is price sensitive and that is the problem that you are pointing out now, we technicians like to think of the bred theth adth of market it doesn't tell you how many points up or down, it just gives you direction. if you look at that indicator, that is still very, very strong and that is a broad skags of the market so i understand the complaints that the people have with the dow, but relax, i think it is okay >> and michael, are you happy with -- i know this is not necessarily where you live, but as a guy that runs money, is this a good place, is this a structurally sound stock market? >> it is interesting, we just spent three days hearing from clients at various conferences for well far go a s fas fargo f

overwhelmingly, it was equities. >> and so more just that t.i.n.a. idea, that there is no alternative, you are buying stocks because i think the technical term is nothing else is giving you squat. >> i got that sense frankly. a lot of people think that perhaps the fed is on hold, maybe treasury yields go up a bit, at the same time corporate bon bonds cheapen. so that is the sense that i got there clients. >> and when you look at the technical, they have been strong do you see them remaining strong >> well, you know, before i could talk about the new year 2020, i'd like to talk about the last couple months of last year. there is a phrase that i like to use, rotation is the life line of every bull market and that is exactly what happened we started to zero tags into se the laggards emerging markets came on strong.

gold, silver, european markets so i think the fertile ground of low inflation low interest rates is what will keep the secular bull market alive. but we need new ideas. only problem i have is that some of the stocks, and you mentioned the leaders in the dow, they are defying the laws of gravity. i get a nose bleed in which i see the angle in which they are accelerating >> you do think that that would be healthy, to have a bit of a pause especially in these faang stocks and these big techs, basically control every major etf as well in. >> yeah, oh, absolutely. and speaking of etfs, look at the xlf financials if you take out the individual stocks like bank of america, ci citicorp, jpmorgan, individual components look good so a lot of things out there that i think on a pullback would be ideal purchases

>> so where is a goodinvesting opportunity in 2020? >> we're in line with the clients. not positive on the bond market. a little bearish on rates. i'll give you a couple numbers we have the ten year treasury going to 210, maybe 220 in q1 and then sort of sitting there so not terribly attractive bond environment. so from a bond perspective, we stay relatively short in matu maturi maturity if you think yields are going out, don't go too far out. on the equity side, we're relatively bullish >> ralph, michael, great to see you. thank you. we'll have you on again. and don't go anywhere, we are just getting started here on the exchange here is what else is coming up coming up -- shocking internal emails at boeing show a culture of dismissive behavior against the faa and airlines we'll explore the fallout. plus, mike bloomberg is on a

spending spree, but may be 34isi34i missing a key component. and two analysts using the same line to describe why you should buy one beaten down name. i can. the two words whispered at the start of every race. every new job. and attempt to parallel park. (electrical current buzzing) each new draft of every novel. (typing clicks) the finishing touch on every masterpiece. (newborn cries) it is humanity's official two-word war cry. words that move us all forward. the same two words that capital group believes have the power to improve lives. and that, for over 85 years, have inspired us to help people achieve their financial goals.

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boeing back in the spotlight. internal documents released by the company show that employees discussing efforts to manipulate regulators and having little faith in some aspects of the 737 max airplane here is a sample from some of those emails one employee writing, quote, this airline is designed by clowns who are in turn supervised by monkeys. another employee saying, quote, would you put your family on a max simulator trained aircraft i wouldn't and then again, i still haven't been for given by god for the covering up i did last year, end quote. no idea what that is in reference to but boeing saying the communications do not reflect the company that they are and that they are unacceptable let's discuss the implications with phil lebeau and also michael bruno. phil, first to you just when you think sort of it can't get worse internally at boeing, now you have these documents being revealed and they are i think fair to say pretty damning >> they are.

and i think boeing's approach is this is, a, let's get ahead of this they were turned over to regulators and to the doj back in december. so they knew that at some point this was going to come out and the new ceo dave calhoun and interim ceo greg smith who will be the cfo starting next week, they decided, you know what, get it out there is no sense in keeping these any longer flush it out and what is noteworthy here, which will be lost in all of the clowns and monkey headlines, is the fact that the faa came out relatively quickly within about 45 minutes and said look, there is no new safety risk in these emails are they damning yes. does it make boeing look really bad? yes. but there is no new smoking gun within these documents >> michael, your take on this story. because listen, people are piling on boeing around the 737 max, but let's be fair, boeing has designed airplanes that have been safe for 40 years and they design a ton of u.s. military equipment as well.

is there some way maybe a piling off boeing or do they deserve this >> there is a little bit of a piling on for sure i mean, boeing can't seem to get out of its own way right now in making bad headlines and then given us the new phrase for the year clowns and monkeys will unfortunately stay with us and may get used in other elements but you know, it doesn't do anything for the safety and the questions of recertifying the aircraft going forward as the faa has said but this definitely ends the debate about whether bo had other concerns besides safety in the design of the latest max aircraft when it came to getting certification from regulators and of course selling to cyril custome airline customers. there is no more of a debate this is proof of that.

>> and do you think that the airlines need the 737 max? the longer this goes and phil has talked about this, they are in the desert, yes, they are being maintained, but if you are united or american or southwest, you've been getting along okay with problems but okay without the jet. it could be more headaches to bring the jet back into service even if and when it is recertified, no? >> absolutely. they can keep going and sort of limping along they think the airline, they can limp along a little more. they keep canceling flights and pushing it back in their portfolio. and i think even phil's reporting that he's done on the number of flighting getting canceled, that effect piles on and eventually these airlines, their profit is very tenuous it is only the past couple years that these airlines have been making a profit. and they needed the makts in order to keep making money so they definitely need the max back in service. and they really want boeing to pull through you know, i think even on cnbc

the other day i saw ed baskin talking about he is roots for dave calhoun everybody needs boeing to come back and be the strong boeing that it was. >> phil. >> you know, i would echo what michael was saying and i would go as far as to say they need the max because it is crucial to future growth the future growth relies to having the new aircraft that they have ordered that they have planned for and everything that goes with that new aircraft, which is greater efficiency, greater profitability. and if you don't have the max, yeah, you canlism alocan limp at some point you will need new airplanes. you won't go to airbus you will need the 737 max. >> i don't know this is a true question is the max the only 737 model currently being built or could you just simply say the 850 or

900 instead? >> no, it is the only one currently being built. doesn't mean there aren't other 737s out there a lot of 737 ngs out there i think 8,000 of them between '96 and 2000117 and early 2018. but it is time for the next generation they have already changed over the production line, the supply chain. you just can't strip that out and say you know what, let's go back and build the old model also remember, those old models have smaller engines and are less fuel efficient. >> i just want to follow up on one thing that phil was saying, which is that underlying all of this, the growth in the aerospace, the commercial aviation world, is all about meeting that backlog of both boeing and airbus with some six to seven year backlog of work that they are going to do. most is building and supplying narrow bodies to foreign airlines, specifically in asia pacific. that is growth to feed the

growing middle classes overseas. and in order to do that, you have to have the max in service. and they are building technically other kinds of 737s, although the soon to be older version ng is getting worked out of the portfolio but they basically can't turn around, it is not that easy. >> sounds like they better hope that it works out. thank you both very much coming up, investors in this stock certainly have had a terrible 12 months, lost nearly 30% of its value, but now we're saying that could be a good thing for you. we'll explain. plus why michael bloomberg could deatrp enf dt important person toeft umev iheoes not win the nomination on options trading, and look, it feels like i'm just wasting time. wasted time is wasted opportunity. >>exactly. that's why td ameritrade designed a first-of-its-kind, personalized education center. see, you just >>oh, this is easy. yeah, and that's >>oh, just what i need. courses on options trading, webcasts, tutorials.

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ship ahead and go catch those first tracks on fresh snow. ship skis. your skis. delivered. welcome back we have breaking news. alphabet's chief legal officer david drummond will very tire from the company at the end of the month. he has been with the company for 18 years and he is among the alphabet executives involved in a probe that resulted in a shareholder lawsuit against the company. cultural issues have flared up, sexual misconduct being one of them that was late january for allegedly covering up sexual misconduct naming drummond and also andy rubin who was given an exit package of $90 million by alphabet after an internal investigation determined the claims against him were credible we continue to look into this and bring you more news as we

get it but drummond is out at alphabet. >> big developing story there. thank you very much. now let's get to sue herera for a cnbc news update >> here is what is happening, everyone house speaker snp sanancy pelos the house will take steps next week to send the parlgs to tart impeachment to the senate. is she will consult with them on tuesday. and larry kudlow telling reporters that the economy looks strong this after the dow reached a record 29,000 level earlier this morning. >> rising stock market is indicating a lot of business and consumer confidence in my judgment and i think that it is forecasting essentially an even stronger economy in the coming year that is the way that i read that and the economy looks good to me today. leonardo dicaprio's environmental organization is donating $3 million to wildfire

relief efforts in australia. earth alliance was launched last year to fight climate change and the australian wildfires have killed at least 26 people and scorched some 20 million acres. you are up-to-date brian, back to you. >> that is tragedy out there meantime here is what else is ahead >> ahead, so bad it's good that is what wall street is saying about one retailer. streaming hits a new milestone and here come injectable vitamins and squeezinthg e limes. it is all coming up on "the exchange." 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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so bad it is good, losing juice, and contessa app li isn't the on one secretly streaming def leppard albums time for rapid fire. ♪ pour some sugar on me >> i prefer salt first up, victoria's secret sales stink but shares are higher you because they got a double dose of optimism on the street

since the company cut its earnings forecast yesterday, both wells fargo and deutsche bank issued positive reports in fact they were almost identical both of their headlines were is it on bad it is good. shares have had a rough year analysts are just looking each other's shoulders like kids in high school or maybe they believe it what do you think? >> i don't see what is good. i understand what is so bad. ab bath and body works does well, but victoria secret down 12%, that means that some investors out there who will invest. and the other interesting thing that is intensive, lex wexner going through all the epstein stuff. he has to be at worse distracted by all of this stuff >> and customers know it everyone knows that that was part of the story line but i think from an investment point of view, a lot of the

analysts are all looking at each other and we know they are a little late to the game sometimes. so we missed the stock going down, maybe it is the time to buy. i wouldn't trust them as a leading -- >> but the whole thesis is basically sell off parts of the company and it looks better. >> how does that make it better? >> bath & body works is a bright spot but jeffries said the brand is broken, get rid of it. and they pointed to perhaps what could be maximum -- well, we had one analyst calling it candle penetration. >> what is wrong with victoria secret >> i don't think guys should be talking about this >> i'm asking contessa >> we can talk about it too because theoretically, a lot of shoppers are men shopping for their significant others >> there is a couple things that are wrong with this, one is their association with mall facilities what we're seeing broadly is retail outlets that belong in malls are struggling

two, the brand may have been worn out maybe it is past its prime i don't know, maybe it will come around champion for a long time was a cheap brand and now all the kids want to get in on that there may be a way to turn around victoria secret and pink and they have a plan to have more diverse models, not to focus on only the sexy apparel can they do it, i don't know and can they just depend on bath & body works to drive their revenue if that penetration has totally maxed out. >> topic two, lime is losing some juice that is the electric scooter startup. it is laying off about 100 employees and pulling out of a dozen markets as it struggles to become profit onableprofitable new data shows it has been a bumpy ride emergency room visits for electric scooter injuries jumped ho more than 200% i hate these kind of stats because when you start at zero

because there were no electric scooter, of course the rate of injury will go up because anything above zero is up. >> hold please if you look at the fact that they are only looking at hospital saig hospitalizations, this is significant. they are not talking about urgent care or going to your doctor or in my family where my sister put a my son on a scooter and they both took a dive. thank god it wasn't in the street but nearly there. that is not in any of these statistics no wonder that they are having regulatory problems nationwide >> and the other thing that is interesting, we all have friends that have gotten into accidents. they are clearly dangerous the insurance on it, like it is not homeowner's insurance, medical insurance, a lot of people don't have any coverage if you get into an accident on one of these things. >> by the way, in santa monica, i've seen people take swings at people on the scooters because they are so resentful, they are

swatting at them as they go by. >> and we don't have injury numbers for pedestrians or people that are collateral damage in the whole scooter war. >> there is a scooter war? >> there is now. >> the bicycle people. >> yeah, they are crazy. >> cyclists. >> bicycle people. somebody will hit you with solyr a. and according to nielsen, u.s. music streaming services like spotify and apple muse jumping 0% last year, topping 1 trillion streams for the first time ever. but again, you are growing every year because you didn't have it ten years ago. streaming now accounts for 82% of all music consumption sales of physical albums dropping 19% last year i still buy albums do you still buy albums? >> i haven't bought an album in more than a decade >> a physical album or do you

buy it on i tines? ituness >> i can't remember the entire album that i've paid for i've paid for individual songs >> i had a tell tale moment this past weekend where i was cleaning out the basement, i came upon my giant collection of cds, right and i was like i should throw them out >> don't >> right but why? why should i keep them i didn't know why i should keep them i kept them because -- >> because you own the music it is a library of your life when you die, everything that you bought on line line goes awy it is a temporary license. i want my kids to know -- >> kids don't want that junk >> do you keep books >> i go to the library >> are you a bicycle person in. >> it is true, with cds -- >> i got nothing everything in the cloud. and when i'm dead, what do i

care my kids don't want any of that junk >> what do you have in your 8 track in the camaro? >> i just have the radio i have am, fm, sirius. i got it all why do you care when you die what your kids -- >> because it is a reference of your life. like anything else >> i agree which is i didn't kept them. >> by the way -- look at me, everybody in america.is i didn'm >> by the way -- look at me, everybody in america go home tonight, play streaming services on your stereo. and then put a cd in and keep the volume the same 37 it will blow your speakers out because the sound quality in lps, we do got -- >> the sound quality >> listen, you're hearing music that you've never heard. >> most people can't tell the difference most people don't have those ears >> like a million years from now, we'll lose our pinkies and

our ears will be larger and pointier so i'm just ahead of the curve >> will we evolve bigger thumbs because of texting apparently it is kikdifficu to swallow a pill so vitamins via drip are coming to a spa or hotel near you are a held sole th sod are a he is live to save this segment >> yes, i think people prefer that you can buy all sorts of health and wellness products. say you want to lose some weight, there is a shot for that say you are feeling fatigued, there is also a shot for that. so here at this nutri drip bar, they are administered by medical professiona professionals, but it has critics. we spoke with doctor david katz

who says anytime that you are injecting something into your body, there are medical risks. and this may be here to stay because there are pretty big names banking on this service. for example wynn hotel tells us that they will be offering this. and equinox already offer it in hudson yards and the company is planning to slowly roll it out at some of the gyms in the city so yes, vitamins via drip coming soon to a spa or thohotel near . >> i'm very tired these days, i have two kids under two, i got a sedan and station wagon at home. anything that will keep me awake during the day, if this iv will work -- >> they have something -- if you are feeling worn down, they have a shot for that. so they got you covered. >> i might have to make an appointment. >> so does somebody on the corner if you need something to get you

going, plenty of people will help you out. >> this is a high end offering isn't wynn in las vegas offering this up to their clients >> it is, yeah and so here it is a bit of a higher end offering. so the cheapest service right now i think was about $115 the most expensive was almost $600 so yes, it is for a certain clientele. >> what, are they injecting gold into your bloodstream? >> i did this like a decade ago. >> and you look great. >> those metal foot long needles? >> rahel, does it work medically any evidence that these things work? >> so that is a really interesting point. dr. katz again telling us that there is no medical evidence to prove that this works recreationally now, there are valid medical purposes for treatments like this recreationally and for beauty treatments and wellness treatments, that science is a lot more murky but i spoke to a client who has been doing this for eight years

and predates this company, he said he's been doing this for eight years and he said when he is feeling a little, you know -- he's had a great night the night before, he said for sure this works. i said could it be a placebo he said absolutely not so it depends who you ask. >> hangovers are caused in part by deficiency of vitamin b, right? >> so if you get a vitamin b drip >> or just take a vitamin b pill and turn off the lights when you go to the bath room. >> and save yourself $600. >> there you go. rahel solomon, thank you very much i'm still trying to find a la leaded gas station >> this is how you know the economy is doing well, when people can spend $600 for something like that. we have two subarus. >> so you're a subarite. so put on music tonight. lps. and up next, why michael blambu bu

bloomberg plans to campaign through the general election even if he loses the democratic nomination and also as a reminder, you can watch us live on the go on the cnbc app we're also available on lp and tape back after this. you leave it to me. i'll get your taxes in an ok place. what? just as soon as my audit's over, this gets my undivided attention. you take a lot of trips to the islands, phil? pretty great, right? oh phil's legally dead. fell off a boat. going by denis now. celery. long story. what do we got here. oh. not going to want to see this. i don't think this is going to work. just ok is not ok. at&t has america's best network, now with our best plans, at our best prices, starting at $35 a line for 4 lines. new from at&t. our retirement plan with voya gives us confidence. yeah, they help us with achievable steps along the way... ...so we can spend a bit now, knowing we're prepared for the future. surprise! we renovated the guest room, so you can live with us. oooh, well... i'm good at my condo.

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a more secure diaper closure. there were babies involved... and they weren't saying much. that's what we do at 3m, we listen to people, even those who don't have a voice. we are people helping people. mike bloomberg's road to the white house is through a hats is s sif massive ad blitz he has spent $11 million on a super bowl ad buy, about $25 million per week and it could top a billion dollars by election day bloomberg is position beefing up his digital presence hiring dozens of former facebook and google employees but is this billion ad blitz going to make a dented in t in polls and remove trump from the white house? joining me mike murphy and alex

stamos i'll start with you, mike. what is mike bloomberg's actual path here? he can't get into a debate because he doesn't take contributions. i mean, is there another way for him to be in front of the american public where he gets to challenge his competitors face-to-face >> well, right now he's doing it with paid advertising. in the past other candidates have tried the late start where you avoid iowa and new hampshire and it hasn't worked out mostly because they ran out of money and momentum went to a candidate who start the winning early. because bloomberg doesn't need donors, he can have a much bigger presence late but he needs two other things to happen he needs one of the more progressive candidates to dominate early and with the new polling showing bernie doing quite well, make that w maybe tl happen but the money gives him a platform to be discoverable, but we'll see if he is discovered.

there are other factors. has to be a perfect storm for him. but he has the resources to take a swing at it. >> and alex, we've heard about the super secretive firm that he may have established in virginia is the digital strategy spot on? >> looks like bloomberg believes that it will be. and you have to remember this is a guy who built an incredibly successful business empire based upon his mastery of data he is hiring dozens of people that built the networks. and he caught a big break yesterday. my former friends at facebook made the decision to not limit political ad targeting which means that his capability to build a huge technical team and to gather up data on hundreds of millions of voters could actually be extremely effective in pushing messages to many, many people either small groups or perhaps even individual voters on networks like facebook and google >> and i'm going to go crazy here and just bear with me

because everybody is saying mike bloomberg is going after donald trump which he is. i worked with mike bloomberg's company for 12 1/2 years they make their money selling to wall street their expensive bloomberg terminal is there any way that you can believe that mike bloomberg is not only going after trump but perhaps elizabeth warren or any other candidate that is proposing any kind of a trading transaction tax because if we get that, it will likely severely damage his bloomberg terminal empire? >> well, that is a couple leveling deeper insight than i've got. >> and i may be wrong, but if you talk about trading volume going down, you talk about fewer terminals, you talk about the hit to the company he built from scratch by position putting together his first machine on the way to a meeting with merrill lynch. >> i think that the main motor is he is unconfident only with warren and bernie as the candidates on the democratic

side if they were nominated both ideologically and as a matter of practical politics i think his biggest focus is defeating trump and the issues that he spent the most time on is climate change and doing something about guns and education reform so i think that he is rich enough not to be that micro concerned about a specific impact on one part of the tax plan but no doubt one of the reasons that bloomberg is running is his fear that bernie or an elizabeth could beat biden and buttigieg in the early states and he is setting position up in the march mega primaries with that big bank roll tobe famous now take them on. >> and he has the money. so any chance mike blobloomberg president of the united states >> seems unlikely to me. but go 2020 is not just the presidential election. there are governors, senate

races. all of those races are -- can be affected by online ads whoever the democratic nominee was going to be was always going to have a large digital operation. if bloomberg creates the dominant digital advertising firm for the democrat being partity, then he makes himself a king maker in all of the other races. so even if ends up with a candidate that he doesn't like as the presidential candidate, he could very well be incredibly influential in a future democratic congress as well as all the local states >> a that seems to be more of what he is trying to accomplish here, but time will tell mike, alex, thank you both very much as debt mounts at energy companies and oil prices stay subo stubbornly lowish, can wall street or private skitity coequo the rescue and casper filing for an ipo. much more on that.

this may be the scariest number you'll hear north american and gas companies are more than $200 million in debt maturing.

more than 600 billion in total debt so if the energy crisis continues to worsen, could we see wall street come to the rescue joining us now -- thanks for joining us we were just talking about this on commercial break. he's the problem when you're private equity, you invest in a company because you have what they call the exit you sell it to another company or take it b public and you make your giant return. no oil and gas companies are going b public why would any private equity firm invest in oil and gas >> well the short answer is that you have a lot of funds b that have been invested during the 2014, 2013, 2515 time frame and the expectation was that a lot of those funds would have been realizations the bigger problem is that we think the shale business model might be broken. well if you think about it, for a $55 price of crude or 60 or whatever it vases between, once

you start to factor the operating costs, corporate gma, interest costs and most importantly, the maintenance costs, so when you produce a barrel, the average shale company loses 50% in the first 12 months. once you load that up, you've got $50 a barrel of just operating and replacement costs and a lot of these companies don't just sell 100% oil they've got natural gas. liquids, all kinds of bottlenecks. so these companies are only g getting $35 a barrel >> that's why we moved to opec in december e. sort of the theme we had was can opec save the u.s. oil and gas industry i got some nasty grams about that, but you're going to need 65 to 85 to higher to really make this industry grow and be vibrant. otherwise you're just pumping oil to pay your debtors. >> you bring up an interesting point. you look at opec in 2014

it was finding a campaign for market share you had a fight against shale barrels, venezuela barrel, iranian barrels. a lot of that has changed today. opec no longer has to worry b about market share like it did venezuela's got problems iran's under sanctions you mentioned shale. so opec is in a unique position where you can pivot from market share to price >> and you're going to get a lot, let's be honest you're going to get a lot of our audience who are listening thinking good, let them rot. it's fossil fuels, the past, let's move forward here's the reality not going to go away in the next 50 years because of petro chemicals and everything else but also millions of jobs in this industry. it's so much larger than it was even tep years ago but the economic impact of a major debt wipeout would be significant, would it not >> it would and if you think b about it from the standpoint of not just the industry, but all these others that consume the product. you have secondary effects

these divestment campaigns have been b very successful if you look at the market share impact on all of the oil and gas companies, we've lost $200 billion of market share in just 12 months. apple's market cap today exceeds the entire united states oil and gas market cap on a combined basis. the problem though is we're targeting supply we want to be effective with the carbonization, you've got to create demand. >> or have exxon create a new smart phone. shaia, important conversation. i have a feeling we'll have it again soon thank you very much. next week could be a huge one for bio tech stocks and investors. we'll tell you the surprising reason why, next legendary terrain in telluride,

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care conference kicks off on monday and if history is any guide, it couldbe a massive week for a particular segment of health care stocks >> this is the biggest health care investing event of the year and it's a big week for bio tech j.pmorga jpmorgan's team lotook a a look over the last 19 years and found all but three of those years, it's outperformed the broad er market by an average of 1.7% one of the years where it didn't, 2016 each day of the conference you can see how the bio tech stocks have performed 2016 was quite a down year that was a last presidential election year so that leads to questions are we going to see that kind of pressure this year in 2020 as we're headi ining ino presidential election. i spoke to michael, the global head of investment for global health care, he said there is pressure there of course but beyond 2016 look iing back to me

history, it doesn't por trend so much disruption. what he pointed so is we're going to see m and a >> we look forward to your interviews 100 a day. great stuff. safe travels that's it for us here on the exchange i'll see you on "fast money" at 5:00 p.m "power lunch" begins now >> thank you very much welcome, everybody here's what's new at 2:00 on "power lunch." stocks hitting fresh record highs and the dow breaking 29,000 but now it retreated so should you still be a buyer in today's market plus, monkeys and clowns ch just a few of the choice words from boeing employees about leadership at the embattled aerospace company. and later, the pit stop calls the ceo of casey's general store. the fourth largest convenience store operator with 2,000 locations in 16 states a lot of thett