rearranged in energy stocks. >> your face -- trying to figure out how that will look. >> hard to damage this. >> it's all right. >> international developed underperformed but europe and japan are attractively priced and should benefit. >> i did buy slack yesterday and chub insurance company. >> "the exchange" starts right now. thank you, scott welcome to "the exchange," everyone i'm kelly evans a. blowout jobs report a break through in containing the coronavirus. can the good times last? plus, it may not be the most comfortable sleep for casper investors. the company slashingpo price as questions swirl. and macy's is on the clearance rack it is the year of the chicken and the vaping ceos get lit up on capitol hill today. we begin with the markets and seema mody has the numbers. >> good afternoon.

markets in rally mode once again and check out the move in oil. up about 4% from brent crude, that's the biggest percentage began in more than a month after opec and russia reviewing production cuts. the dow up 1.2% w. this move in oil, a relief rally for oil and gas names that suffer as of late you can see up 6% for the sector but still down about 15% so far this year. now, those coronavirus fears haven't gone away. nike expects material hit while capri holdings, the parent of michael kors saidspending can decrease in china and by those frequented by chinese tourists back to you. >> shrugging that off. thank you. we begin with the latest on the coronavirus outbreak there are mow nor than 24,000 con if i wered cases worldwide including 11 here in the u.s the death toll at 494, all in china at this point.

let's bring in meg terrell everyone's hoping for good news on the treatment or vaccine probt especially have we got that yet >> we have potential news on these treatments so because there's nothing that's developed specifically for the novel coronavirus and will take time, right now what companies and researchers are trying to do is look at existing drugs so anti-viral drugs approved for other kinds of viruses like hiv for example and seeing if they have activity against this a number of companies involved in searching for new drugs and using existing medicines companies like abbvie, johnson & johnson whose drugs are being investigating. gilead with an experimental anti-viral drug. very early stage testing, not in people and that was used actually in the first novel coronavirus patient in the united states that was just published over the weekend and showed promising

results but too early to say that it works and vaccine work going on, as well. takes too many. >> the vaccine prevents people from contracting the disease the treatments to cure them. compared to hiv, such a serious disease. how serious is the coronavirus at this point? >> right now, there is a broad spectrum of the way people respond to this. most of the cases tend to be mild but they say about 20% of cases can be severe, pneumonia, respiratory problems and people dying. right now the death rate appears to be around 2% so it is pretty low compared with sars at 10% and mers as high as 30%. this looks to be more infectious than sars but doesn't kill as many people and people are hoping that rate stays low. >> i have heard reports of firms around the world racing to bring treatments to market in as little as two week's time based on maybe novel experiments i don't know what else to call

them. >> there's a headline in the uk talking about a 14-daytime line. what they're talking about is preclinical work before they get into animals so they need to put that potential vaccine into animal studies and then do human safety studies and not saying to start that before the summer potentially and that's the headlines of the nih and johnson & johnson putting a conservative estimate of a year to human testing and what people talk about now is that this virus could be seasonal and kind of like we see with influenza and the outbreak might wane before it's tested in people. coming back that might be when you see the viruses potentially tested. >> sure. would be great to prevent it from next year as severe as it is now bottom line, there's not anything really to expect to help this that much unless there's a break through with an

existing drug for six months and maybe longer. >> existing drugs where people focus because they're already available but you have to see if they work an the world health organization in a briefing today being careful to say nothing yet is shown to work. >> meg, thank you so much. meg tirrell. for more tune in "outbreak: coronavirus" live tonight at 7:00 p.m. eastern time with the very latest. the rally rolls on with stocks pushing higher for the third day in a row and coming off the best day since august. what is driving the bullish sentiment, she said? there's optimism surrounding the containment of the coronavirus and efforts the fast track medical solutions, also the blowout jobs data this morning and maybe there's a trump bump as the president's approval rating hit an all-time high in a new poll for more bring in bryce dougty and chris zacharelli great to have you both here.

bryce, can the rally keep going? >> you know, a lot of good news baked in there you named three strong things and the employment report of 271,000 was a blowout number, way more than people expected and also driving or fueling the president's approval rating. i know there's certain benefit from the impeachment process and state of the union and whatnot but behind the numbers, trump's approval rating for handling of the economy is the second best in history for any president and so, i think a lot of people might be saying, you know, if it is not broken don't fix it maybe he gets re-elected the two are closely relatted if that is all baked in where do we go from here? >> it remind me of the melt-up after the election with bank stocks surging, you had optimism of the tax cut and jobs act and then moved sideways on the

averages for a while could we be in a period similar to that now? >> i think that's possible really the market's moving higher for the reasons that were mentioned. you had coronavirus fears which seem to be receding. the impact to global gdp may not be as bad as feared. good economic number coming out this number. expansion in terms of the ism manufacturing number pretty good earnings across the board and seeing a receding of some of the fears so i think pushing the market higher right now but going forward really what move it is market higher is encreased earnings i think to your point we could go sideways if there's no catalyst to push the market higher from here. >> bryce, you look at the areas hit lately including airlines, cruise lines, energy where specifically would you bet there? why should they be ripe for a

rebound? >> things feeling as good as they, are it seems like you need to take some money off the table because as you mentioned while there is some optimism on the coronavirus, it is not over. there's still damage to airlines, to the leisure areas and including energy, as well. there's opportunities there. you look at the cruise lines that have had their ships kind of quarantined those are the names to kind of zero in on look at the airlines that canceled the most amount of flights, that's another area where probably you are going to find some opportunity. i don't know that you need to do that now now might be a good time to have a little bit of cash put money in treasuries or that. on a two to four weeks looking leek the infection rate is slowed, that's the time to probably move into the sectors. >> chris, while bryce might be leading into the beaten down areas of the market, you lean

into the winners including tech. we have a $4 trillion cap companies. how big can they get >> that's a good point on a broader range, i would say technology in general, still some opportunities the indices themselves are pushed higher but if you look beyond the few companies, say someone semiconductors you have a 5g super cycle to start. a guest talked about that. we really believe in that. we think between 5g, artificial intelligence, cloud computing, starting to happen right now and a pretty big wave there and why we like semiconductors also consumer discretionary, the homebuilders and home improvement space. record low unemployment. wages that are rising and interest rates low we think those factors will allow you to find some good opportunities in which otherwise be a pretty good upward trend and trying to be not so broad

brushed. >> neither of you mentioned tesla. anyone want to jump in with thoughts on that before we go? >> you know, the breakthrough that everyone is looking for in that sector is like who can make an electric car profitably looks like they have finally figured out how to do that i have a concern of the $7,000 tax credit for buying a tesla expired last year. i don't know how much demand rushed in before that expired in the fourth quarter versus might be falloff in demand in the first quarter and still a pretty volatile or dicey situation and amazing to watch. >> tesla down 19%. we will have more in a moment. thank you both appreciate it today. here's what else is ahead on "the exchange. >> coming up, tesla's massive rally hits the pause button. are investors taking profits or

are concerns of evaluation seeping in magic of macy's may be fading the company takes moves the try to stem declining sales and profits. will it work why casper investors may not be getting a good night's sleep today. alexa, tell me about neptune's sorrow. it's a masterstroke of heartache and redemption. the lexus nx. modern utility for modern obstacles. lease the 2020 nx 300 for $359 a month for 36 months. experience amazing at your lexus dealer. lease the 2020 nx 300 for $359 a month for 36 months. apps except work.rywhere... why is that? is it because people love filling out forms? maybe they like checking with their supervisor to see how much vacation time they have. or sending corporate their expense reports. i'll let you in on a little secret. they don't. by empowering employees to manage their own tasks, paycom frees you to focus on the business of business.

to learn more, visit paycom.com

welcome back tesla shares are tumbling today. down 18% after the company said some model 3 deliveries in china delayed because of the coronavirus outbreak now despite that pullback, the stock up 80% this year with much in just the past week s. this a tesla bubble joining me is charlie grant. good the see you again. >> nice the see you, kelly. >> how much hate mail do you get, charlie >> not as much today but maybe after this appearance we'll check and turn the phone on. >> you know, we always used to joke about martin pierce, the notorious heard on the street bear -- this might be more notorious now. walk me through the psychology of why should the stock been below $200 a year ago and now above $900 just tell me what you make of it. >> to be frank, i ask myself the same question. looking at the second half of tesla's 2019, i see automotive

revenue growth of 3% and e bit decline of 13% just about. excuse me 45% net income decline. that is not the basis for 0 parabolic move upwards just about anything can happen in either direction and that's why 20% moves a day have become the norm in this thing. >> my guess is, you know, this if anything is probably making you more bearish on the stock. take the price action alone, what typically happens after a move like this >> anyone who wants to look at a bitcoin chart in 2017 or a qualcomm from 20 years ago, you would see a move like this and not look too far ahead to the right after that the stock is exceptionally volatile what we have seen this week is extraordinary. three quarters of the float changed hands on monday and tuesday alone. >> wow.

>> tesla is most popular trade on the fidelity orders page for weeks on end and frankly, if you google -- i just googled should i on auto complete finished should i buy tesla stock just before i came in here. that is not healthy and someone will be hurt out there >> you make a good point a couple of other nuggets, robin hood with the largest swing in new buyers on the app and interestingly it doesn't seem to be as owned by robin hood investors even as this time last year you are starting to see should i sell tesla, too. why is there so much retail interest in the stock in what do you think the catalyst was or is is everybody in it now do you think about to get burned? >> a chart that goes straight up is highly appealing an people follow the chart and worked for

a listening time in this chart you know, mostly trend followers have been paid off and we have reached a point now where the stock is at 25 times book value, auto companies sell for one time at parity and now china's -- tesla has a big china business they're not immune to the coronavirus fears or the supply chain shutting down, anything of the sort all of the growth in the future to come from there and the new factorys that are coming online supposedly. >> and there was a downgrade of the stock today saying that the coronavirus is a clear head wind to the shanghai facility expecting to produce 3,000 cars a week but i'm not sure this is about fundamentals i don't know if you saw this, earlier today, ralph nader said the s.e.c. to investigate this pay attention to the protection of investors here and look to see whether there's been some

insider trading, potential market manipulation or even the ability to clear the transaction. he says, charlie. >> well, i'll let ralph own his own words on that. i will point out he knows a thing or two about big auto and misbehavior from his career. >> why the words carry some weight i would say so i guess if you're elon musk, what do you do paid as how the stock performs and feeling riggreat right now maybe nervous. >> he has an opportunity he has a great chance to reset the fundamentals, clean up the balance sheet and make a lot of the long-term concerns go away will actually have money for the vanity projects he likes to talk about. >> would that make you bullish on the stock >> not necessarily but less worried about the long-term fate of this company and a chance to do that right now.

very interested to see how he reacts to this opportunity. >> fascinating thank you. >> appreciate it. coming up, is macy's strategy of getting smaller the key to bigger things ahead or a sign of deep er troubles? casper made the bed but investors may not want to lie in it. a reminder, watch us or listen to us live on the go. ♪ limu emu & doug

and now for their service to the community, we present limu emu & doug with this key to the city. [ applause ] it's an honor to tell you that liberty mutual customizes your car insurance so you only pay for what you need. and now we need to get back to work. [ applause and band playing ] only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪

welcome back to "the exchange." a big rally on wall street today. the dow adding 346 moments at the moment the s&p up 27. nasdaq up 15 here are some of the movers this hour shares of koty up nearly 13% on a revenue beat and growth stronger than expected management credits disciplined promotions how about shares of ford down 9% to be the biggest loser in the s&p 500 today the automaker missing earnings and weakness in north america one of the key reasons why match group down 8% as earnings disappointed tindr subscription estimates missed estimates and its first quarter guidance below expectations. >> swipe left or right i don't know which one it is there.

swiping down. >> the no to tindr today now to sue herera for a news update. >> thank you everybody, in geneva, the head of the world health organization says the largest number of coronavirus cases in a single day in the last 24 hours. >> as of 6:00 a.m., geneva time this morning, there are 24,363 confirmed cases in china and 490 deaths in the last 24 hours, we had the most cases in a single day since the outbreak started a boeing plane skidded off the runway at istanbul's airport crashing into a road and breaking into pieces authorities say 120 of the 177 passengers on board have been hospitalized but no one was killed officials say the accident was the result of a rough landing. a change of command on the

international space station. departing italian astronaut handing over the key to the station to a russian kos mo naught that's the news update, kell back the you. >> thank you very much there are about 30 minutes left until "power lunch." >> see you at the top of the hour and start with the ceo of pioneer natural resources and looking at oil and gas, the stuff that goes into cars, a rough couple of weeks for the price of oil until today and then the cars themselves with the ceo of group one automotive, always fun to have around. talk to him about the auto business get some thoughts on ford's numbers notably soggy. >> yes. >> for today we'll look at what goes into

cars and then -- >> who's buying them thank you so much. here's what's coming up. ahead, macy's takes bold steps to try to stem losses. will 2020 be the year of the chicken? it might be a rough night for casper investors snap says it's profitable for now. it is all coming up. what do you see? we see breakthrough medicines getting to patients in record time. we see harnessing natural gas unleashing the promise of clean energy. we see engineers simulating the future to improve today. at emerson, when issues become inspiration, focusing core strengths to create a better world isn't just a result, it's a responsibility. emerson. consider it solved.

and when you open a new brokerage account, your cash is automatically invested at a great rate. that's why fidelity leads the industry in value while our competition continues to talk. ♪ talk, talk

welcome back let's catch you up on a few stories on your radar today. it is time for rapid fire. here to break down the headlines, my guests how was the macy's call? >> four and a half hours my head hurts from the headphones. >> it's unveiled the three-year turnaround plan. this is a biggy. closing 125 department stores. they're cutting 2,000 corporate jobs the stock up about 4% today. around break even for the year and still the shares down 40% since the ceo of 2017. a lot to unpack from the call here today, courtney they're trying to avoid becoming

sears. >> there was an awful lot of focus on physical retail as you might imagine with macy's right now at more than 600 department stores and candid of the mall and the ceo of macy's said, look, i think 400 of the 1,100 malls are here for the long run. >> wait, wait, wait. only 400 >> 400. >> of the 1,100 malls in this country. >> here for the long run. >> yikes. >> the gentleman ahead of real estate for macy's says he thinks that 300 of the current malls are dead man walking so they were pretty honest about the state of the mall saying, some are very good and others really not very good and part of why we are pulling out of there all of these 125 stores profitable, but the profitability is declining. >> that's gong to accelerate the problems at those malls. okay so traditionally it would because they could say we lost the big anchor and pulling out,

too. but if macy's is struggling, man it is a blessing in disguise. >> there's a human cost to this, of course. both for the consumers and for the people that work there investors as you pointed out happy to see sort of this tough love happening i think with the real estate optimization and some corporate restructuring this work is duh republictive and they're doing a lot of work to bring the two together. it sounds easy that's how we look at it as shoppers macy's is macy's everything should be cross platform easily. it is a hard thing to do behind the scenes. >> to that point, reading to get ready, closing the technology offices as a part of some of the restructuring? >> yeah. >> reconsolidating what message does that send? >> they're bringing the people from san francisco and from

cincinnati to new york they have sort of operated this dual headquarter facilities for a listening time, particularly with new york and cincinnati and then san francisco was the added digital team and they're just really far apart and i think most think we can do a better job of bringing the business together if we are actually together. >> a good question did they give you a sense on the call to invest big-time in the future of retail, whatever that looks like or more of a kind of let's ring fence what works and discard what doesn't >> all three of those things we're focusing on the healthy parts, figures out how to very carefully get rid of what's not healthy and then optimize. they optimize the supply chain and does work together for consumers already and when they close a store they will also lose a lot of that digital business in those surrounding zip codes and have to be care. they're trying to offer other

options, local stores or some market by macy's pilot concepts, smaller stores to try to get the traffic to go somewhere else. >> i love this point today, as woe well, thinking target will benefit the most by the way, my mom is a living example and hoping the macy's doesn't close but a big target shopper down the road. she will go more to the other. >> can be a win for some of the other competitors in the area. especially if you think that it is easier, more convenient to do the shopping at tar gert to park and go into the mall. >> isn't it wild now that they're interchangeable? macy's and target? >> i think i like target's clothes better let's talk snapchat. ghosting investors after a mixed report down 14% today remember, this was the comeback

story of the year in 2019 when the stock nearly tripled in value. competition is fierce. demonstrated by new reported revenue numbers of instagram and youtube. instagram with 20 billion in revenue as you can see there to youtube's 15 blows my mind. of course, you have tiktok on the scene, as well. >> snap did manage to grow its daily active users from 210 million previous quarter but i don't use snapchat or tiktok but they seem interchangeable to me. when's the last man standing here snap has a cameo's feature and looks to be more tiktok-esque. >> i got to tell you you talk to the 12-year-olds they love tiktok trying to show me. you got to be on this thing. so much fun. when you go through the content and hear the music and then go back and look at instagram, they all look a little stale by

comparison. >> not even the growth story the revenues grew 44% so, you know, the growth is there. what wall street has a problem with is when are you guys going to post a profit so they posted a profit in the quarter and now saying by the way don't expect this for the future, this outlook for the year could be negative again and i think that is more the issue than tiktok but shows you how faddish the world is this year could be tiktok or something else i have teenage daughters on one thing -- the thing they were on two years ago they can't even remember it go from one to the other. >> sure. they were saying to reach the 12 to 20-year-olds they're on tiktok why did snap have a good year last year? as it was coming on to the scene or is it just that sninvestors don't have confidence in the story? >> particularly the younger, younger generation never been on

facebook or migrating away from it and tiktok and snapchat for them and instagram with the stories feature had success. i don't know. >> i think tiktok to your question is coming into the cautiousness of dumadults and shareholders and my daughters knew about it in the summer. it is just theened of last year people aware of it. >> if we get on tiktok the kids -- >> you should see me trying to figure it out. >> the next snapchat. >> meantime, cnbc is confirming reports that hedge fund titan cohen ended negotiations to buy the mets here to break down the story for us is eric chemi. >> hello. >> is this now a problem of ownership on the mets part coincidence that both of the

deals have fallen through? >> the ownership had a track record of blunders, bad reputation for operating the team, the way they do business, bankers toll me in the past sports deal makers, i don't trust them i don't do business with them. >> were they the one - >> with the madoffs. had this financial difficulty going back ten years or more now and trying to sell the minority stakes but not give up ownership. this deal from the beginning to a lot of the bankers didn't make sense. cohen buy the team and the others are in charge while he was the owner and changing it up on him he's backed away. >> why did it fall through >> mix of things out there part is that they wanted to stick around longer than five years and what about the sny network that originally they were still going to own, not cohen. so there's complexities to it. the path to control deals are always tricky. not like, hey, i bought the team you are gone it is my team.

i bought it and you are still here are you leaving? cohen is still a minority owner of the team so is he going to stick around all upset at them they have issues to work out. >> i wonder how the fans feel. >> typical billionaire nonsense. >> david did a great interview today and not so much the five-deal year change but the wilpons wanted more money at the last minute and common in new york real estate you get close to a deal and chisel for $5 million, $10 billion. steve cohen is disciplined businessman. he said, look, you won't chisel me for extra money if you ask for more money after this deal is basically done, i'm walking and i -- according to david that's what happened. >> still a minority owner? >> he is there are lots. >> comcast is a minority leader.

>> bill maher. >> here's the thing. if you. >> -- if you're a mets fan, you be excited that cohen right it is ship? >> david suggested this on the interview. there could be another bidder. >> could be. who will spend more than steve cohen? >> exactly. >> if that guy existed, sell it to him two months ago. >> he tried dodgers didn't get that sam thing i agree with you but there is some chatter out there that there may be someone else and why they felt confident enough to come and ask for more money. >> buyer beware if they treat him the same way as steve cohen. >> a trust issue if i can't trust you for this deal how can i trust you to be a partner in the team? >> do you have a strong feeling about chicken sandwiches >> i almost had one for dinner last tight. >> jeffries calling 2020 the year of chicken innovation

why is this a term, kate mcdonald's launching two new breakfast chicken sandwiches wendy's on march 2nd this goes back to pop -- i don't understand why did chicken become an important thing? >> there's a lot going on and has to do with the chicken sandwich battles over the summer mcdonald's sat out right? didn't introduce a premium chicken sandwich the franchisees reportedly asked for and mcdonald's upgrading the restaurants across the united states and they're already gong through a massive change new ceo, we just heard from him this last quarter, the first quarter in the role, he said we are competing in an aggressive way in the chicken segment and doing something this year, something i think customers want and seems to be taking a measured approach to it. they went through the big

upgrade. new ceo. get it right makes seasons to wait it out >> we saw wendy's up 40% last year mcdonald's up 10%. and by the way, the wendy's breakfast launches encollude -- i think great terms. the frosty-ccino. >> maple bacon on the croissant. all the fat but ten. >> chicken >> the new - >> no way. >> want to eat junk but not the red meat. >> that's what i was going to say. >> we have fried chicken for you. >> breakfast wars. think of mcdonald's compared to wendy's. the campaign is getting people tacking about who will win at breakfast. >> all of the talk of beyond meat, not so interested of an impossible burger, maybe i don't love the idea of so much red meat and this is an in between

junk food step for me. >> they know how to do it. >> mcdonald's. >> of course do a great job with it when they're ready to do it and why i think they're cautiously approaching. >> less questions of chicken it is chicken. i don't get the impossible burger or beyond burger. what is it >> pea protein. >> too much. >> the stock reflecting the doubts lately, as well appreciate it. we have a market flash on biogen meg? >> the stock is up sharply after the company won a patent decision the patent decision was against a company of mylan the stock up 19% for biogen. kelly, back to you. >> thank you casper's i 3o valuation could give investors night mares. a look at whether you should get in bed with the stock when it at nt.orw.ding tomro th'sex

welcome back mattress start-up casper disclosing to cut the ipo price range. when casper first filed the s-1 crock documents the range 17 to $19 and now down to a range of $12 to $13 and the valuation which hit a peak of $1.1 million last year in march is just about half of that the most it's worth is $520 million and lost the unicorn status part of the problem is the pioneer of the sleep economy is doing not so disruptive things anymore. according to "the new york post," a potential investor in the thursday presentation said he decided to pass after hearing the ceo talk about the planned expansion to brick and mortar shops. the horror let's bring in business editor of axios when people say tesla tells you how much momentum and froth there is in the market, not the ipo stories.

casper's a latest example, isn't it >> it is we have had some successful ipos and even some successful start-up ipos but it is a mattress company we have seen them for 20, 30 years. you think they were the first ones to discover thatnot only do we sleep but we like a buffer between the floor and where we lie at night on the private equity side, the industry is full of mattress bankruptcies in the past. >> there are other mattress in a box companies of lisa and nectar are there any real barriers to entry for the business, dan? >> not really, no. it is an adoption thing. the mattress in a box thing is weird. from a differentiator, right i got a mattress recently. i did the old-fashioned way. two guys showed up in a truck and brought it in.

you gate mattress. you can be home for that or whatever else. they have competition on all sides. >> now, we talked about an investor saying i don't like the fact they go into brick and mortar they're there. there's a partnership with casper of a perfect partner. i'm not sure it gives an image of a disruptive company if that's the partner what does casper need to show investors to justify doubling the valuation and reaching the heights of it once traded at or is that unachievable >> it is unachievable. some committed to buying 10% of the ipo. that's really unusual outside of bio tech on the brick and mortar, they went into target and everyone believes that there was a hand shake deal that if it worked target would buy casper but that didn't happen and threw in it a

tailspin what they need to show investors, casper is arguing basically that they can sell other products, call them soft products pillows, sheets, things we buy more often than mattresses the problem is when you read through the s-1 they don't exactly explain how much of that they have been able to sell to existing customers or new customers. >> i bought a set of sheets from casper, might have been through c a amazon and if they don't have something to set them apart, how do they compete in a category like bedding that's a very different kind of company. >> it's a very different kind of company but what they have to do there's been talk that if casper's ipo doesn't do well that's a big problem for the direct to consumer industry but i think that kind of having casper be the representative dtc isn't right. casper is a piece of dtc

opposed to shoes where you have lots of shoes probably in the cl closet you get a mattress maybe two or three depending on the rooms. you need to be able to sell the sheets an pillows and not that much differentiator and going through amazon or google, they're reliant on platforms. >> good to seeyou. thank you for the thoughts. >> thank you for having me. and states across the country making financial literacy classes a requirement for students we'll meet the principle who was the early advocate of this, next. "the exchange" is now a podcast. listen to the favorite parts of the show you might have missed sign up now. online. i felt completely helpless. my entire career and business were in jeopardy. i called reputation defender. vo: take control of your online reputation. get your free reputation report card at reputationdefender.com.

find out your online reputation today and let the experts help you repair it. woman: they were able to restore my good name. vo: visit reputationdefender.com or call 1-877-866-8555.

welcome back a new report finds that more schools are requiring students to take a personal finance course in middle school or high school and many educators say it simpl

makes sense. >> come on in. >> reporter: this principal is passionate about his work. he loves his students and says that it is never too early to get them ready for the real world. do you ever wonder what your life would be like if you had taken a class in middle school about finance? >> if i knew this before, i would be in a much better situation. >> reporter: his parents worked hard and told him about the importance of financial independen independence but he was not taught what his students are learning today. they partnered with a local nonprofit to answer saturday classes on financial literacy. and before the state mandated that starting this school year, it be included in curriculum for all 6th, 7th and 8th graders >> where are stocks traded >> what is the most important lesson you've learned? >> the fundamentals of moeney management, like in-swvestinves, donating >> and how to save money for college and real life and how to

spend your money wisely. >> reporter: a life lesson that he wishes he had learned earlier. >> you always have to kind of plan you can enjoy today, but at the same token, you want to plan for tomorrow >> and sharon epperson is joining me now they are learning investing and saving and budgeting compound interest, that is what they need to learn >> they are learning about that, dividends. and they are picking the stocks what they love they love retailstocks >> and how many -- this focused on new jersey, but this is becoming more common across the country. >> a report came out today and we're seeing progress. 21 states now require students to take a personal finance course in order to graduate from high school. and is that up from about 17 states two years ago so we are seeing progress being made and what is interesting is the number of states that are also saying let's implement education k through 12 so starting even earlier, maybe

even in elementary school, can make a difference. >> that is great a cnbc tv on in every classroom. >> that's right. >> sharon, thank you so much you can read more about the story at cnbc.com/black history month. and nbc universal and comcast ventures are investors in acorn. and ecigarette makers are testifying on capitol hill and we'll head to washington for the fiery exchanges and what is at stake, next. ♪ ♪ - [spokesman] if you've tried colleg(group cheering)shed, snhu lets you transfer up to 90 credits

toward you bachelor's degree. - [woman] it doesn't matter how old you are, you can do it, you can finish. - [spokesman] finish your degree at snhu.edu

wean air force veteran made of doing what's right,. not what's easy. so when a hailstorm hit, usaa reached out before he could even inspect the damage. that's how you do it right. usaa insurance is made just the way martin's family needs it - with hassle-free claims, he got paid before his neighbor even got started. because doing right by our members, that's what's right. usaa. what you're made of, we're made for. usaa

welcome back ecigarette makes are testifying and getting grilled on capitol hill for the first time since the cdc began investigating vaping-related deaths. frank holland is there with the latest for us. how is it going so far >> reporter: this hearing as con ten issues contentious as expected. and the ceos are facing tough questions under oath and also facing harsh criticism of their business >> thanks to your product, this is an entire generation of young

people that are now addicted to nicotine >> if you want to be men of in-tellingiin integrity, you would not be selling this product >> reporter: and the hearing has very high stakes this committee oversees the fdment af dchdfda and they will approve or deny the applications and when you look at the ecigarette market, juul is still the leader but market share is declining as concerns over vaping deaths have grown nearly 800% growth in the most recent month but after the hearing, ceos of enjoy and blue both refusing to comments. >> can i ask, how do you think this hearing will impact the future of e cigarettes counseli do you think that you were asked fair questions? >> reporter: not a lot said by

the ceos but the chair of the committee afterwards was very vocal about her plans to speak with the fda as soon as possible. >> any marginal benefit these ecigarettess may have is dwarf y the addiction of teenagers that we've seen in the vaping epidemic >> reporter: and one important thing to note that it must include evidence that somehow the products actually protect the public health. after today's hearing, the chairwoman says that she believes that will be very hard case to make >> do you think that the made are are ke products will still be on the market in the next few years >> reporter: i don't want to speculate, but when you look at the youth vaping numbers, it is certainly concerning that is a lot for the fda to consider in addition to the more than 2700 cases of vaping-related deaths or illness. >> and yet they have to balance that against the people who may stop smoking and that may be

even more harmful. we'll see how it shakes out. frank, thank you very much and that does it for the exchane exchan exchange "power lunch" starts right now >> thank you very much and welcome, everybody here is what is new at 2:00. it is a wednesday on "power lunch. the record rally is back, all the major averages within a percent or so of all-time highs. nasdaq actually nipped above it earlier today but sold off shredding off coronavirus fears right now. so is it a he have to buy stocks again? plus oil bouncing back, but energy shares have been crushed this year. how are companies dealing with the crude reality of $50 a barrel ceo of pioneer will be here to talk about that. and later the big tesla rally coming to a screeching halt. they wiped out yesterday's big rally and we'll talk to ceo of group one auto about whether demand for electri