final rade >> remax, great franchise, 12 times, we like it here >> another way to play financials is insurance. >> el brand. >> nike. >> thanks, all "the exchange" begins right now. thank you, scott here's the big rundown on "the exchange." stocks rebounding, confidence surging and investors are turning their focus to earnings. we have apple after the bell, facebook, amazon, microsoft all on deck this week. will those big numbers keep today's turn around going? plus, could the coronavirus have more of an impact on business than tariffs or the trade war? you'll hear from one executive who fears supply chains could be disrupted. and one big bank, and the new fake news fears on facebook. we begin with the markets.

a pretty impressive rebound following yesterday. >> we still have some ground to make up, but we are in the green across the three major indeces at the highs of the session, up 260 points, that's the mark that represents the high for the dow so far so a good move for the dow the s&p you can see there holding just below 3300. the nasdaq up 1.5%, as well. let's take a look at the home construction market. right now we have a bullish trade there going on the etf ticker here up 2% here at this stage, up 11% just on a year-to-date basis why? home earnings helping that so watch that home construction market it continues to be hot and then check out these big earnings movers. all of these are dow come poe 234e7b -- components united technologies, its merger

and separation, up 2%. and apple as you point out, brian, the big earnings report after the bell today, the dow components very much in focus today. back to you. >> we'll have all that apple news in "fast money" tonight let's begin with the latest on the coronavirus and what we know at this hour there are now more than 4600 confirmed cases worldwide, five in the united states according to their own government numbers, 106 people have died in china earlier today, the u.s. government is considering broad travel restrictions to and from china and united will suspend some of its flights to china let's dive in. meg is following all the latest here at home eunice is live in beijing. meg, let's begin with you on a developing story >> the health secretary convened a press conference this morning, where he confirmed u.s. case

counts have remained at five he says the coronavirus is potentially a serious public health threat but he says americans should not worry this is a fast moving and constantly changing situation and there are still many unknowns about the virus, including the speed of its infection, severity and whether it spreads before symptoms show. the cdc director noted that china has noted some evidence of spread before symptoms the cdc heightened its travel advisory to recommend that travelers avoid nonessential travel to all of china and addressed the possibility of travel restrictions in the u.s >> we are urging china more cooperation and transparency are the most important steps you can take toward a more effective response beyond that, all optioning for dealing with infectious disease spread have to be on the table,

including travel restrictions. >> still, he said that is not the preference they want to rely on tried and true methods, trying to identify cases to stop the spread in the united states. but it is an interesting step, even just talking about travel restrictions like that here. >> where is the world health organization, where do they stand on this? and number two, given that china arguably knows more about this virus than we do here, have they been good about sharing information and data on it with the united states government >> on the world health organization, they are -- the leadership is physically in china right now. and of course, last week they declined to call this a global public health emergency but said today they stand ready to reconvene that emergency committee and we could see more news coming out of them potentially. in terms of u.s. and china data sharing, we did sense frustration from health officials here in that press conference with china, urging china to share more information and what kinds of work is going

on as far as therapeutics and diagnostics as well to enhance the response >> thank you very much now to beijing where eunice has been reporting on this entirely. we do appreciate it. eunice, where does the government of china stand inside of the country of china with data how much is this dominating the airwaves, the newspapers, the public discourse >> reporter: it's dominating the airwaves and is pretty much every major headline at this point. it didn't start out that way, but these days it definitely is the top, top, top news that's mainly because there was an increase in the numbers which appeared dramatic and seems now it's motivating the government to step up its efforts to be much more prepared for a rise of

patients, as well as a need for more care for these potential coronavirus victims. the local media has been reporting about how beijing, as well as a chinese -- a central chinese city of jung jo have joined wuhan in building prefabricated hospitals. wuhan has already been doing this by constructing two hospitals, and now it looks as those jung jo is going to be doing the same thing in a matter of days. this comes as president xi jinping was meeting with the world health organization chief here in beijing. the president had told the chief that he believed that the coronavirus was a devil, but that beijing was very confident it would be able to slay that devil. brian? >> actually, over your shoulder

we're getting a look at action in beijing i understand it's 2:05 in the morning there, so it's late at night, early in the morning, but that is a main road through the capital behind you there we've seen about five cars in two minutes. is that a normal amount of traffic or is that representative of the commerce and activity that we are seeing? >> reporter: well, as you said, it is 2:00 in the morning, so obviously there's going to be fewer cars on the road but as you pointed out, this is a major thoroughfare here in china, it leads straight to the forbidden city it's one of the most important avs. it's -- the activity in the city has ground to a halt a lot of that is because people are really nervous about doing out, especially when it comes to public places. because the health officials have confirmed that the coronavirus is so contagious,

even when you're not exhibiting symptoms, that's led people to be much more fearful about getting too close to other people, especially when they don't know or have gone. >> remarkable anecdotes in a city that's as large as los angeles and new york combined. most chinese companies were already scheduled to be closed for the new year holiday my against guest says he doesn't expect them to open any time soon nathan is the ceo of source-a-fi. you were scheduled to go to china last week or the next couple of days and you have decided to cancel your trip. what are you hearing from inside that country >> that's correct. i mean, all of our employees are

staying home we know through our factory partners they're telling their employees to stay home this virus is widespread and there's a lot of fear on the ground in china and there's going to be trickle down effects in everyone's supply chain for the next i would say six months. >> we look at people coming back theoretically on monday from this holiday what would be the normal lag time to get things back up and running after this five days, and what do you expect to happen now? >> well, normally, this is forecast every year there's the chinese new year, where factory workers return to their hometowns to take a break typically they return to work, but now this break, this lunar new year has been extended so many factory workers are not returning to these factories i know in wuhan, there are some major factories. and a lot of those factory workers have been told do not return we don't want to risk this

virus. >> do we have any idea how much inventory that can built up that is in transit, and how much do you anticipate supply chains, everything from apple's iphones to socks to be disrupted >> it's going to be disrupted across southeast asia. it doesn't just stem from the assembly factories but also the raw materials factory. even if your supply chain is outside of china, there could be effects from the coronavirus so it's important to be aware of what's going on with your factory. >> i know you've been to china often. you work there part time this morning on cnbc, we had the former fda commissioner on,and he said this and i want you to comment, that you can't trust a lot of the data from china listen to this >> i think the chinese haven't been forth coming with information. so we have been patting them on

the back for being actors. they've concealed key information. so we don't know the full scope of what they're facing >> listen, i know you have china ma partners, but as somebody who deals with china a lot, do you trust the data >> you know, i would say at the end of the day, in virus could have been prevented. it stemmed from a wet market in wuhan, something we didn't learn from the sars virus in 2003, where it stemmed from a similar wet market so to see this happen again, we need to learn from our past mistakes, so this needs to be addressed head on and i hope china will be more open to sharing information so the world can prevent viruses like this in the future >> nathan, thank you very much appreciate you joining us. much left to do this hour.

here's what's ahead. coming up, what a difference a day makes. earnings taking center stage, but how will they set the stage for the markets going forward? plus, apple on deck. a look at what to expect today, and whether the coronavirus could become a factor. and what the social media giants are doing to curb the spread of misinformation woman: what gives me confidence about investment decisions? rigorous fundamental research. with portfolio managers focused on the long term. who look beyond the spreadsheets to understand companies, from breakroom to boardroom. who know the only way to get a 360 view is to go around the world to get it. can i rely on deep research to help make quality investment decisions? with capital group, i can.

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welcome back it is not all about china in the markets this week. this also marks the busiest week of earnings. technologies you might marge well represented three of the so-called f.a.n.g. nameses are out. from ge to caterpillar to honeywell. you've got starbucks, mcdonald's and coke earnings out. general dynamics, and maybe the comeback story of the year, tesla. joining me now are my guests david, i'll begin with you as somebody that just wants to look for value, ammi ianalyze ss

and markets, how much has this outbreak of the coronavirus made it more difficult for you to do your job and understand the markets right now? >> okay. we don't deal in stocks at all we don't analyze u.s. industries or individual stocks we're a global macro >> a lot of that goes into that. >> well, yes -- >> i meant stocks generally, like the world of equities >> yeah, exactly right now we're in european small cap, and that's the only common stock equity exposure we have a lot of preferred stocks in the u.s. i'll just take a dive here or a pledge and say that when you look at a chart of the s&p six months from now, you won't even see this >> why are you so confident in this, david? >> every single exogenous event the last 50 years has disappeared after a few market

days the big dives in the supermarket, for xach it wiexam crash of '87, no one can find a catalyst for the big drops we've had a couple big drops the last couple of years and there was no catalyst for those. >> interesting point of view michael, do you agree with that? >> well, i think that it is going to have an impact on the market in terms of your perspective in terms of what this virus outbreak might mean for investors, particularly coming up on earnings season, as unfortunate as the human tragedy is, this creates softness in the markets. the market dropping 450 points yesterday, even though it is bouncing back today, it is a sign that investors are worries about what will happen in emerging markets i think that creates

opportunities for investors when there is an overreaction, assuming this is an overreaction, which i think it probably is. brian, i was in china three weeks ago. and i was talking to someone yesterday from chingdow, which is pretty far away from wuhan. it's actually on the east coast in china and it's a ghost town. people aren't going out. they're more concerned about where can they get food that's not contaminated so that panic will have an impact and will create softness in the u.s. market >> we're talking about effectively, and i'm going to be rough with the numbers here, one-fourth of the global economy in china as we talked about, we're getting anecdotes, has ground to a halt that has to play havoc, i think, with global macro. >> well, yes and no.

if you look at the hong sang, it hasn't even had a ripple again, things like this always seem dramatic in the very short term i'm not saying this time couldn't be different. it certainly is big for the moment but if you look at the impact of the sars virus on the markets and sars concerns lasted quite a while. if you look at a six-month chart of that period of time, you won't notice any impact for more than a few days for the sars stuff. >> on the earnings side, michael, let's focus on that 130 something companies reporting. if the numbers are good, if the guidance is good from the big games we care about, is that enough to sort of counterweight what else we're seeing in the world? >> yeah, i think it is i think it's going to come down to earnings. i think there's going to be some softness based on the panic about the virus, it will all

come down earnings in the united states, the economy is healthy it might be slow growth, but we have very low unemployment, no inflation. so i think earnings matter and it's not just earnings, it's guidance, that's what is going to matter. how conservative are global multinationalists going to be given the uncertainty in one-forth of the global economy, which is china i think guy tans idance is goin key. >> thank you both. coming up, there is a lot of misinformation flying around the internet about the coronavirus so what are faiscebook, twitter and others doing to stop a problem that in some ways their platform enables the uk going their own way with huawei. and watch us live, listen to us on the go on the cnbc app.

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ride sharing, instant messaging and making copies, topping your list of stocks to watch. first up is uber investors are making some money today. uber was initiated with a buy rating, as global business is set to go. stock number two is slack, getting a buy rating from wells

fargo. wells saying that slack's valuation is right, correct, and the bearish sentiment around competition with microsoft teams is overdone. and xerox, hashares up more tha 5% they beat the top and bottom line and hiked full-year guidance all right. those are the stocks to watch. something else to watch? the escalating drama in d.c. where president trump's impeachment trial is under way his defense team prepares to conclude their opening arguments. ylan mui with more >> reporter: we expect today's session to last a couple of hours, but republicans still have not come to a consensus over what to do about john bolton and his new book. right now, there are at least three options that are floating around first, a potential witness trade, perhaps bolton for one of the bidens second, just getting a copy of

the manuscript, even if classified now and third, what lindsay graham called a whole slew of witnesses. >> i'm just telling everybody who thinks you can surgically deal with this, it's not going to happen. i'll make a prediction there will be 51 republican votes to call hunter biden, joe biden, the whistleblower and the dnc staffer at a very minimum. >> brian, republicans are scheduled to meet after things wrap up to discuss their next step forward >> thank you very much now let's get a cbs news update sue? >> hello, brian. hello, everyone. here's what's happening. attorney general william barr speaking with jewish community leaders, saying the federal government will not tolerate hate crimes. >> i want each u.s. attorney's office to provide a point of contact for reporting hate

crimes to their respective offices and to establish protocols within their office for keeping in touch on these matters with the jewish community in their district. >> harvey weinstein arriving in court as his sexual assault trial continues. the trial is moving faster than predicted, with twlee more accusers expected to testify before the end of the week he's denied any wrong doing. chipolte was hit with a huge fine for child labor violations. they took place at 50 stores in massachusetts. you are up to date that's the news update brian, back to you >> thank you very much here's what's ahead on "the exchange."

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over harley's share, down over 3% right now harley posting a painful 12th straight quarter of declining sales in the united states.

>> their numbers are pretty good >> this is about -- harley has made a very big deal about the future for harley is going to be electric motor bikes if you're going to take that harley internal combustion engine aura and make it work, that's a big deal. if polaris can do the same with indian, that's great, as well. ford is doing it with mustang, the new mustang is there, cadillac will be the flagship brand for gm there's nothing to say harley can't be lek trelectric >> there is a saying in the community that loud pipes save lives. you may hate the nose, but it saves lives.

i do wonder, given some tesla aside, some lean sales data on all electric vehicles. do you think at some point harley has to say, maybe we need to go back to where the big, loud, proud hog? >> no. they're too proud. one is structural. the number of people in the u.s. who ride motorcycles is down 40% over the last decade that's number one. number two, people around the world, including the u.s. that do buy motorcycles, it's smaller, sporty, it's electric or it's quiet. it's ducate, these niche brands or it's the sport racing brand and harley is none of that so they have a demographic problem and a product problem. the question is that harley brand, which is known for one thing, those loud pipes. i don't know that they can make that transition. >> maybe they should create a bmw 1150 the upright touring bike >> i think it's very much a demographic problem, young

people aren't as interested in these products anymore i'm not getting on one personally >> why not >> i'm scared. >> it has to do with larger cars on the road. >> if i'm in a regular car -- >> the average size of the american car has gotten huge >> sport bikes are still popular. so that idea of putting on a saddle bag, the wind screen, thundering down the road going cross country, aside from insurance commercials, people don't do that anymore. next up, instant cart wants to bring you a staandwich. you can order a custom sandwich with kate rogers, your grocery delivery is this going to help insta cart business i want eggs, cheese, dogfood and italian euro

>> it could be a smart move. subway has delivery. it's worth to try out. they partnered with retailers operating 25,000 stores across the country. why not try it out >> publix sandwiches are so good when i'm in florida. they're known for the sandwich >> them and wegman's are really good >> but waiting on the deli line is one of my least favorite parts of going to the grocery store. if you can get rid of that, i'm all in >> this might push the frank family to order a sub, and use insta cart >> publix is only in florida, right? [ overlapping speakers ]

>> all right finally, the breakfast wars. a lot of kate rogers -- mcdonald's announced it's going to add chicken sandwiches to its breakfast menu the chicken mcgriddle and chicken mcbiscuit. wendy's has a breakfast menu chick-fil-a, they're just y legendary in places. is there a demand for chicken for breakfast? >> it is really important to mcdonald's they've been the leader in the space. a lot of analysts were asking what wendy's pushing back into the space yet again means for mcdonald's so it's important that they do have an offering like this and it gets people talking what it winds up doing for them

when they're a leader remains to be seen. >> i don't know the incremental cost to putting an item like this on a national scale for a company like mcdonald's, but it seems like a no-brainer. if you have eaten the chick-fil-a chicken sandwich for brake faeeakfas breakfast, you know how good it is if mcdonald's can get americans to concede that chicken is for breakfast, mcdonald's can make a huge inroad into this. >> one of the reason people like chicken is it's healthier. wendy's has the honey buttered chicken biscuit. [ overlapping speakers ] >> i can't understand america these days >> can i say one thing >> should we know the thing you

were talking about >> i don't know. should i, could i? >> that he eats maple butters bacon? >> am i allowed to say anything, yes or no? >> sure. >> i thought it was important to note that dom and his lovely wife are going to be having a baby i hope that's okay you announced it to the newsroom >> most of the newsroom does know and now a good portion of our viewing population >> congratulations to you, and your daughter will have a little brother or sister. >> thank you very much >> and what have you guys done lately >> eaten a lot >> thank you very much appreciate that. kate, robert, and dom. china is a key market for apple, and a vital link in the supply chain we'll look at what the coronavirus could mean for apple ahead of earnings tonight that is next. how's the it department liking the now platform?

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apple is going to report their fiscal first quarter earnings after the bell today. while its business in china has picked up lately, the question is very obvious. could the coronavirus derail apple's progress josh is in cupertino with what to watch tonight and more about china. josh >> so brian, it's interesting. i was speaking to one smart apple analyst who was saying that he was certain apple was going to beat and raise today, but now he's not as sure so investors are trying to figure out what this virus means for apple. it could impact a couple of broad ways one is sales china is a critical market for apple. the company is in breakout in the country specifically but it does account for about 17% of total revenue you saw that team at japan mopm.

they warn apple could be losing sales here because they think that foot traffic to apple scores could be lower. they have built this big network of stores in china and it now has 42 of them over there. and china is also this key link in apple's supply chain. most apple products are assembled over there millions of chinese hard at work assembling those devices suppliers are warning that could the virus could impact apple's planned production so big important questions here, likely a hot topic on the conference call after the bell today, brian >> i would imagine, that iphone demand is fairly inelastic if you need a phone, you'll get a phone. you may dedellay that purchase y three or six months, but i would guess that apple would believe lost sales will likely be made

up at some point >> yes, so there's some debate about that do you pull forward the demand as you are suggesting. others might push back that is production going to be dented here it's a worry for some. but the team at evercore point out, the foot print there is so big, even if you saw a couple of supplier sides, they think cook could move production to other areas. so there's debate on the street what this means. >> all right josh lipton, we'll see you tonight. thank you very much. those numbers should be out after 4:00 p.m. eastern. england will allow huawei to build aspects of its new 5-g net osat, but with a cch the details and what it might nene for the uk and u.s.' relationship stick around legendary terrain in telluride,

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welcome back the united kingdom is making a final decision on what role, if any, chinese welcome huawei is to play in the building out of their 5g mobile network. the united states is not pleased with the decision, if it involves huawei. here now to explain the

complicated decision and relationship eamon? >> president trump and prime minister boris johnson spoke by phone today. not a lot of detail on what they talked about, but we do have this statement from a senior administration official that the white house put out earlier saying they are disappointed in the uk decision to allow huawei to have access to at least some of its 5g network. the white house saying there is no safe option for untrusted vendors to control any part of a 5g network we look forward to working with the uk on the way forward and continue to urge all countries to assess the long-term national security and economic impacts of allowing untrusted vendors ak december to important 5g network infrastructure so that's where the confidence stands of now. a point of tension between washington and london at this point, brian >> yeah. does the u.s. have any pull over

this at all, or we can just express our displeasure and move on >> the concern when you talk to white house aides here is of the national security relationship between the tw national security relationship between the two countries. they share so much sensitive material, the two governments do, over a lot of the networks they don't want the tt huawei being involved in any of it. the brits are making an entirely different economic decision deciding they can allow them in some but not all of the network, keeping it out of core of the network. they feel that's the right approach for them economically and technologically. the united states disagrees but england is a separate country. the united states doesn't have final say over that. >> but you have literally written the book on cyber security are the people that you talk to, do they believe that huawei is truly a threat

people on both sides have. this is ridiculous and others say, how can you let an arm of the chinese government control the network that accesses top secret and dangerous government information. >> yeah. white house officials will say to you straight up, this is a threat we do not trust huawei we don't want them in the network. they believe they could be giving the chinese back door access to anything that passes through those networks we talked to other people who say there's no evidence of no public evidence linking huawei, doing anything like that on behalf of the chinese government the white house saying we don't want to take the chance here officials saying they believe, they don't think today is the end of the line. they feel they have more conversations coming with the u.k. side but ultimately, the u.k. will make its own decision is that the united states will have to live with it >> there is a book called broker, trader, spy. it has lot on cyber security, i'm told

>> yep >> thank you very much >> thanks for the plug with coronavirus spreading rapidly around china and the rest of the world, there is another problem, misinformation. how are the likes of facebook, twitter and others fighting a problem that largely originated because of their platforms we'll talk about it, next. they're changing by the nanosecond. that's why cognizant created a unique engineering approach to design and build new digital products. learn how cognizant softvision designs experiences and engineers outcomes. ♪ cool. ♪

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all right. welcome back a nice little market run we're up about 250 on the dow, just off our highs for the session. we're not making up what we lost yesterday. we were down 454 yesterday we were talking about liquidity. down right now, up to 50 s&p 500 and nasdaq also responding while public health frls working to contain the coronavirus, social media is trying contain the spread of misinformation the "washington post" reporting that facebook, google and twitter are all scrambling to stop the misinformation on their platforms. from the "washington post," as well as our own julia. what are these copies who, by the way, their own platforms,

the reap they exist, doing about it >> it is not enough to have a public health crisis we also have a misinformation crisis as we're starting to see on social media sites. the claims are widespread. things conflate how the disease the transmitted to people about, cures that don't exist the same kinds of things we've seen on facebook, google and twitter about a whole host of other health topics. in the minds of regulators and experts who track this sort of thing, it is the latest indication that these companies need to do more to stop the spread of viral misinformation that the stakes are much higher than politics. it is actually something that could affect the decisions people make about health care. >> that's right. and the concerns pointed out, these platforms largely exist by saying, we're not responsible for what's on our platforms. it is the people that are the problem. they're caught between a rock and a hard place >> well, look.

facebook, youtube, twitter, all these platforms have said they are taking steps to prevent the spread of misinformation and they do seem to have a different standard in terms of being able to take action when it comes to public health crises and they've tried to down rank, or make the misinformation with vaccines less prevalent in people's news feeds. what sit really interested is these platforms say if there is an article that people are sharing that has fake news in it, when it comes to public health, make sure that it doesn't surface as much. they sort of down rake it in their news feeds so you're less likely to sight. i think what will be interesting is whether these platforms go to the next step them say we won't just down rake it so you're less likely to see it they're saying, we'll take it off entirely but there is a challenge of this idea of private groups if someone joins a private group and people are sharing ideas or misinformation between each other there, that is even harder

to monitor than when someone just shares something to their news feed. a lot of different challenges. >> you could have dawn grom phone call 20 years ago. people want to chat amongst themselves, they'll do it in a bar or wherever they can from a mass distribution perspective is the problem but there also seems to be an issue, how do the platforms know what misinformation is we don't know a lot about the coronavirus. do they have cdc employees monitoring twitter feeds to say, hey, i don't think that's right? >> there are a couple issues the first is that it is not just that these conversations are happening in small groups. pits the facebookal goal rith him put it from the group to the top of the news feed if you join one of these, they become self-perpetuating echo chambers this length itself to the bigger argument in washington and silicon valley about whether structurally these companies enable this misinformation because it allows it to go viral

in the first place among things the companies have done here is help redirect female more authoritative news sources. if you go to twitter.com and you go to the coronavirus, twitter will point you to the centers of disease control and prevention because it sees that as an authoritative source sometimes what the companies have done have not been as effective as they could be so we pointed out if facebook is doing these fact checks and down ranking the misinformation, as we did our analysis, as we joined these groups, we saw the content was not labeled and perhaps had not been down ranked in all cases so there is this question of, what the companies say they're doing is actually having the opposite effect. >> okay. there's work to be done. ahead of this thing i keep hearing about, this might be only a more contentious topic. thank you very much. we've got a dow rally.

it is up 231 points. huge earnings. you have apple out after the bell you have will amazon, the coronavirus, a lot going on. that's it for us on the exchange power lunch will pick up all that coverage, starting right now. thank you, everybody here's what's new at 2:00. the market taking on a triple threat this week with the coronavirus spreading rapidly. the election ramping up and tech earnings kicking off is it safe to buy stocks is this the moment when you should get in? plus the name everybody will be watching that's apple it operates, of course, in the thick of china we'll tell you what wall street is waiting to hear about 17% of apple sales take place in china. the profit is back marcus will join us for the full hour as "power lunch" starts right now with a special guest