loves trolling the shorts, doesn't he >> right unlike any executive we can recall in the last few years, baits them, trolls them. he has talked about how shorts should be outlawed it's been part of the game part of the story. is the short sellers >> all right thank you and that does it for the exchange i'll head over and join contessa on "power lunch" which begins right now. >> here's what's new at 2:00 on "power lunch." the powell playbook. stocks hitting record highs before retreating as jerome powell lays out the biggest risks to the market and the economy. we'll tell you what he said that has all of wall street talking plus facebook takes a hit as one analyst is warning about a potential ad pock lips that could hurt the stock and later, the epic tesla rally taking a breather today and a top technician says look out

below. he'll break down the key levels to watch and "power lunch" starts right now the dow, s&p and nasdaq hit record highs as the dow inches closer to 30,000 we are just off those all time high levels right now. the dow industrials up about a tenth of a percent s&p 500. up a third nasdaq up .4%. real estate material, best performing sectors in the s&p 500 today. hello, tyler >> hi, contessa. welcome. bob pisani is at the new york stock exchange with more on the record break iing action hi, bob b. >> hello, friend new highs op the s&p 500, but wee now we're near the lows of the day. a little blimp right here. had nothing to do with mr. powell's testimony we had comments from the cdc, boeing as well boeing lost about $5 in half an hour there

jet liner orders, none u in january. maybe that wasn't a big surprise, but boeing is in negative territory although they are flat now in terms of earning, europe had a great close here the stock 600, the s&p 500 of europe, historic high there. that's now outperforming the s&p 500 this year. earnings today, we talked a lot b about under armour, they talk b about losing perhaps 1% of revenues to coronavirus. that's dropping that but good year tires had something similar. they said they're being dramatically effected by coronavirus as well. remember both these companies have other issues in addition to what's going on with coronavirus. maybe we'll get more information when we get other big global consumer names that are coming out and reporting. pepsi for example, kraft hines nestle op thursday and alibaba to get a much clearer idea back to you. >> thank you for that. though the stocks may have

retreat ed after hitting highs this morning, fed chair jay powell has a lot of optimism about the u.s. economy and steve liesman swrohas more on what he to say in his testimony on capitol hill >> jay powell saying that coronavirus represents a new downside risk to the u.s. economy even while others have receded. he says the economy's in good shape to weather new challenges. >> we know there will be effects on china through some part of the first half of the year and china's close neighbors and major trading partners in europe as well as asia. and we know that there will be some very like ly be some effecs on the united states i think it's just too early to say. >> despite this new concern, he said his raushs about the overnight lending rate is appropriate and any change would require a material reassessment. that means the fed is on hold for at least several months, maybe more not necessarily of the market. if you look at the fed probablyties, they're looking for a 55% chance of a rate cut

in july and that goes up to 80% in december. we will see over the coming months if the economy requires that he said the fed is still looking into the september crash in the repo market. the interlehning market. but measures the fed has taken is injected billion billions into the bank. >> he lot a lot of pushback on the ree poe market in fact, a lot of pushback from both sides of the aisle whether the fed is doing enough to help people find jobs or people on the other hand following the president's line of pressure. does it appear to you in this questioning that the fed chairman, the fed itself, is vulnerable to this political pressure. >> i've seen it a lot worse. i think under bernanke, yellen, there was a lot more pushback. if you try to think of it, the republicans are trying to get the fed chairman to say that

president trump's policies are what's by hind going on with the economy right now. the democratics are trying to get him to say there's more that the federal reserve can do to help out low income and help out poverty. for example, there was a question about whether or not the federal reserve could lend to the bond market whether they could use more of its tools to address the low income americans i don't think powell is in any worse position than others have. there was one thing about a party he attended. there was a picture shown about him going to a private party at jeff bezos' house where jared kushner and ivanka were at that party and there was a question about that powell responded he had not talked to any of these people >> that was like the beginning of a joke. bezos, kushner and powell go to a party. >> go to a party >> but i don't know what it goes >> i don't remember, somebody asked me this earlier. i don't remember the federal reserve's mike being under some

scrutiny, but with the president commenting so much about the federal reserve during his testimony, before, criticize in the chairman that he appointed, it is certainly more fraught right now u and the question of conflict is much more near to the surface now than it ever was. >> thank you so much for more on the quote good place powell described in his testimony today and what that could mean for the record rally, let's bring in victoria fernandes and michelle gerard -- z >> i love this space and it's larnlly -- >> hearing a little tape that bled in there. managing director with nat west markets. welcome to both. victoria, i assume you saw what steve just showed. that is the probablity ascend ing as we move into the end of f the year of rate cut do you agree that that is a higher and heightening probability as the year grows longer >> tyler, we are seeing the

probability move higher. when you look at those numbers, come to the september meeting, you have that full cut already priced in, but i'm not so sure we get there we know the market tends to move ahead of what the federal reserve tends to do. they tend to lead the fed quite a bit on these rate adjustments so i wouldn't count that in right now. it does seem like the next move will be a cut. but i'm not so sure we get it this year. you lock at what we're seeing. yes, bond yields have moved lower because of the uncertainty surrounding the coronavirus, but you have an equity market that's still reaching new highs we have strong fundamentals, a good labor market going on so i think we're going to have to see a lot of things move south before you can get that material reassessment that powell speaks about. >> so let me sort of pose a similar question to you, michelle it would seem with the economy in the position it is in what he kal calls a good place, that it's steady as she goes

no need for a rate hike. probably not a need for a rate cut. might like to see inflation higher than it is, but things are okay. >> you pushed on something, there's so much focus as a weak growth, as a trigger for fed action that material reaeszment only applies to the growth outlook and unless things look like they're getting a lot worse, this fed won't see a reason to cut. but as you noted, the inflation outlook is important i think powell reiterated that today when he said this fed wants to resoundingly see inflation at 2% and we haven't been able to get there and the fed of course is in the process of doing a monetary p l policy review where they're considering they're approach and if they're doing things differently. should nthey be looking at times when the economy looks good, to get inflation above 2% that would mean changing the

reanchor potentially cutting rates not for the economy, but to help with inflation i think there's a broader discussion here that the market isn't really focused on right now. could be as we get into the summer >> let me ask a dumb question for which i'm famous why do we need more inflation? >> well, we don't want inflation to be falling to the downside. i think that's really important. the fed has shown we all know if the, from looking at the global experience, if you get behind the inflation ball and you're getting disinflation, deflation pressures, that's extremely difficult. so we want to avoid that so what the fed is saying is when you're in good times, there may be a case that you actually try to overshoot to kind of build an inflation cushion so when the inevitable downturn comes, you built in some cushion and you protect yourself from that downside scenario unfolding and i think this is what again what the fed is talking about.

>> i don't know. i mean victoria, what do you think? do you think there's a point where the markets are f going to be satisfied with not having access to super cheap money? >> no, we've become so accustomed to having these low rates. you see the panic in the market when there's even the mention of rates moving higher. i understand the fact we want to put a floor under that inflation and we want to try to get that to move a little higher and average around that 2%, but that whole phillips curve phenomenon we're used to seeing has really fallen apart recently. so i'm not sure hoering rates going to help that inflation move higher. we haven't seen it we have productivity moving higher that's going to keep unit labor costs low so it's a tricky line they're trying to walk with the inflation and the rates. >> i want to talk about coronavirus here and michelle i'm just wondering how coronavirus now factors into the inflation outlook. >> well, you know again, it's just another factor that creates downside risk.

i think for the fed that sees already concern about inflation not getting to 2% and our forecast all year doesn't, clearly, these developments, whether it's weaker global growth, the collapse in oil prices, all this will only add to their concern they won't be able to get to their 2% objective. all i'm trying to say, too, is that could play as much into the fed's decision as the weak growth outlook >> is the weakest growth to both of you guests, please, is it likely to be in this first quarter and the economy then strengthening from there or what victoria, you go first >> yeah, i think we're going to see a hit in this first quarter. especially if we have the factories and things in china continue to stay chllosed down i think only about 10% of the, woers now are getting back to their jobs and you had the huge issue with the migrant workers not being able to get there. the consumer is going to be

affecteded it's the degree we see that happen that we're going to have to be concerned with to see how much that knocks off gdp if it's a quick turn around, i think we see the small effect in quarter one and that will turn around in quarter two. if we're looking more like the japanese earthquake in 2011, it could koncontinue on more towars the end of the second quarter going into the second half of the year >> is growth better later in the year >> yes, i think it gets better later in the year. first of all, i worry about some of the spillover effects that it isn't just going to be a q1 story. if we're not faulking about chinese factories coming up online until april, may and the lag defects by the time it finds its way to the u.s., it could be a q1, q2 story as well i think the other factor that bodes well for dwrout is unu certainty around the election. away from the coronavirus, the election uncertainty, the possibility for some binary

outcomes depending on who may or may not be elected, who the democratic nominee is, all that could be head wind for growth and might get removed after the elections. >> thank you very much appreciate your time >> well a drop in the number of new cases of coronavirus last night, but i should probably add an asterisk there. meg joins us now to explain why we might want to characterize that a bit more. >> great point new news out of the w.h.o. this morning that the virus has a new name we should be using now. covid-19 just rolls off the tongue. they say having a name like this matters to prevent the use of other names that can be stigmatizing against people or animals like swine flu u it continues to arrive quickly the case counts are rising and we've learned that china is changing its methodology for what it considers a confirmed case so a pisht who tests

positive but shows no symptoms will no longer be considered confirm and we saw a lower number last night from the epicenter of the outbreak. experts say it's difficult to interpret what the case counts from china mean but few thought this change made scientific sense and finally as the w.h.o. convenes a two day meeting to set priorities for drugs, vaccines and tests, there's one being tested now it was used to treat the first patient here in the u.s. with what looked like promising results, but one person is not enough to know if a drug works >> what about this mix up with the cdc, relosing somebody in san diego then the test results back back and weren't negative a lot of people are raising questions about these quarantines for the americans evacuateded and whether that makes sense and is really the

best way of stopping the spread of this coming up, a top analyst downgrades facebook sending shares lower we'll ask him about the threat from the ftc plus google with its share of problems, too the hr steps down from that role how serious is the growing employee discontent? ♪ ♪ ♪ ♪

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check out the shares of facebook taking a hit today as pivotal research downgrades the stock to a sell warning and changes to data collection just weighing on the company. down 2.5%. this with the federal trade commission demanding details about every acquisition facebook and other major tech players have made since 2010 michael levine of pivotal research joins us u now. so where do you want to start with with this first of all, the downgrade. give us a sense, what are the challenges ahead of facebook how real could this be in terms of a hit to revenue? >> i mean i think the company's really being pretty transparent as they indicated, we're going to see a loss of signal. they said they're going to have more of these head winds in front of them as opposed to behind then the cfo called back emphasized this could continue

to weigh on the ability to target it's going to impact our lives through 20 into 2021 just to clarify to your point. i wouldn't say advertisers are necessarily fleeing. what i would characterize is this is the best company on the planet with regards to behavioral targeting advertising. they operate on the efficient tron tier so frontier so when yu start the to lose signal -- >> you are especially focused here on your note to direct to consumer advertisers why does loss of signal matter to them more than any other group of advertisers >> i wouldn't say it necessarily does to them we tend to be very, very focused. where you've got a large chunk of the facebook advertising base is branded and not as fazed but if it goes to 55, that's a problem. with based on our work, we've seen that facebook and instagram are the two large distribution

sources for direct to consumer advertising and we're just looking at the sign posts that have been popping up over the last few months and it feels very unsustainable >> i want you to take me through your recent thinking on the stock. you upgraded facebook january 22nd, less than a month ago with a buy rating and price target at 245 a then downgraded to a hole eight days later with a price target of 215. that was on the 30th now you have initiated a price target of 180 with downgrade to sell a lot of moves in a short period of time. take me through your thinking. >> so just to clarify, we had a buy rating we didn't grade it in january. just rolled our price targets as we did with everything in our coverage 2021. we did not think there was going to be a severe impact to numbers and we listened to the conference call and one of the

nice things about pivotal in terms of it as an organization, we have really, really extensive distribution list of folks who operate within the industry. publishers, with marketers themselves so we got a lot of response. we were not thrilled with what we heard on the call we felt the team was being forthright with their message. we had come out with a note, a priority note to our paying clients on monday talking about the impact from cookies, continue to get similar types of response and we steppeded back and thought look, numbers are still model too aggressively regards to the at which we think they're going to deaccelerate particularly in the u.s. >> stay with us. we want to talk about another company you cover. bring in jon fort on google. the company's head of human resources is changing roles. t jon, what are you learning >> yeah, contessa, she's been at google since 2006 when the

market cap was 140 billion and they had about 10,000 employees. she joined the sales organization they bought youtube and before it bought double click when the slogan don't be evil carried no hint of irony. she led hr during a time of tum ultimate google has also faced vocal discontent from some of its now more than 100,000 employees about how the company has handled sexual misconduct, doing business with governments and more employees famously walked out more than a year ago on some of these issues, but to be clear, she's not leaving the company. google says she's going to stay in her current role to search for a successor then take anoth another roll whoever takes the baton is going to face different challenges like hiring for its cloud organization i'm going to be talking about

that next hour with google ceo >> thank you very much let's bring back in michael who has a buy rating on the stock. a $1700 price tark a target you concerneded about the inner turmoil at google? that's what would be at the goldman sachs conference, one of his first web casts. it's a different change in the organization i don't know enough about her personally maybe she doesn't have enough enterprise dna in her make up. that's going to be one of the big areas she's going to step on >> back to what you had been talking about with facebook's loss of signal and jon, maybe you want to jump in here, but you have chrome now putting out new restrictions that are going to keep these third party

cookies off of their chrome services will that have an impact on facebook >> i think if you look across what's happening in browsers, the moves that apple has made in safari, what microsoft is making in the latest version of edge, what google's doing in chrome, just sorry, what google yeah doing in chrome just follows along that trajectory. fire fox still in there as well. does it reduce the signal, maybe a tiny bit, but they have so much if that's become iing the standd in browsers. they've still got signals from search from youtube lots of signal on location from maps android across all of those services, so i think you have to think of it in interpreteterms v advantage and facebook and google still have so much more relative advantage compared to everybody else

>> finally, michael, can you weigh in on the ftc investigation into these acquisitions that were not previously reported? >> when i look that this was oriented, i think it's probably more of a shot at facebook and it's been a, it's not really as clear with the case of amazon. i could i could point to -- pretty far dated not as many large things out of microsoft. i think the message has been pretty clear facebook has been where the sites are. >> michael, thank you so much for joining us jon, thanks as always. >> all right coming up, call them the one percenters five stocks in the s&p 500 trade

for more than $1,000 a share which of them are worth the price? and boeing's january orders doing something they have not done since 1962. that number coming up. and tesla shares up 85% so far this year. it's not even valentine's day yet. give you a share for valentine's day. >> thank you love that. >> can the stock possibly keep going up or is a huge drop on the horizon? the levels you need to watch stay with us ♪

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welcome back to "power lunch. with stocks trading in record high territory, there are now five s&p 500 stocks trading at more than $1,000 a share given higher prices doesn't always mean a stock is expensive are there any worth that four digit price tag? let's bring in your trading nation team. danielle, do you like any of these names? >> i do. so for me personally, i like auto zone. if you think about auto zone, first of all, it's been very consistent over the course of the last 20 years. even throughout 2008, 2009, you just saw a little bit of a drop.

over the course of the last couple of years, we've seen relatively consistent earnings growth, especially out of the last eight out of ten quarters it is a little bit oversold at this moment in time. i'm hook ilooking for a potentia oversold bounce into the next earnings date, but also on a larger macro scale, once we see this business cycle slow down and see the economy stutterer a little bit, companies like auto zone who sell parts to people who want to fix their cars instead of buy a new one, i think they're going to remain very strong. >> how u does the chart look to you, matt? >> as danielle said, the it's sold off quite a bit and is now coming down to a critical area getting down towards the 1,030 level. that was held, that was rock solid support in both august and, sorry, august and cement of last year. and sorry, august and october of last year and if it's below that level, it's foin to be very

negative but it's very oversold so which ever way it breaks over the next week or so, it's going to be important. on the flip side, one name that looks good is amazon people forget the stock was stuck at a sideways range while the rest of the market was much higher this stock finally in january and february has broken out to a new all time high in a meaningful manner. that's very bullish. it may have to pull back a little bit to work off that overbought condition but the breakout has been significant enough that in the market, it could have a lot more upside >> matt and danielle, thank you and for more trading nation, head the our website or follow us on twitter. back to you. >> ahead on "power lunch", lyft set to report earnings and it's all about the match up can they keep up with uber and start down the road to profitability? plus, tesla's on a tear, but how much longer can the run last we'll break down some key technical levels and samsung unveiling its new flip phone

last year's launch of the galaxy phone was a flop >> say that five times fast. >> will history repeat itself? all that and more when "power lunch" returns before we talk about tax-smart investing, what's new?

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le[ fast-paced drumming ]ans? welcome back here's your cnbc news update at this hour. a suicide bomber targeting a military academy in kabul killing at least three people earlier today. the attack happened near the entrance of the academy and a police check point on the western outskirts of a capital city the justice system will lower the time for roger stone this coming just hours after president trump condemned the

sense of seven to nine years as quote very horrible and unfair end quote. on capitol hill, a senate subcommittee holding a hearing on whether student athletes should be paid for playing in college sports ncaa officials asking congress to step in as more an more states are shay saying they should be paid >> college athletes fuel the $14 billion industry that literally makes money for countless companies and agents and almost nothing for the athletes themselves we should ensure they receive equitable comp salgs sags. you are up to date ty, back the you >> it's a tricky one, sue. thank you very much. the oil market closing for the day and let's go to.com. >> so tyler, oil prices are on the rise but off their best lels of the day u.s. benchmark west texas prices

currently$49.93, up about thre quarters of 1% brent crude prices for the april contract up about 1.5%, $54.02 it's less pessimism over the spread of the coronavirus. some reports may indicate the slowing rate of growth for the infections of that deadly disease, but don't let that positivity paint too rosie a picture here oil prices are still more than 20% lower than they were at the highs earlier this year and traders will be paying close attention to the oil data out o the u.s. and official government data that comes out tomorrow morning. back to you. >> thank you for that. shares of boeing turning negative midday. it's monthly orders number showing something that hasn't happened in nearly 60 years. let's bring in phil with more on this phil >> and contessa, let's be cheer here, what we haven't seen is a january where boeing had zero net new orders but that is what happened in january.

now they had some months since the grounding of the 737 max where there were zero new orders, but in japan, there were zero net new orders. the company did deliver 13 commercial airplanes while the max has been grounded, b they haven't been doing those deliveries yeah, they're delivering dream liners, triple sevens, 13 in january. when you look at boeing's deliveries, the blue line is the big drop off where airbus had record deliveries. boeing fewer les than half. airbus as you take a look at airbus versus boeing, 274 airplane orders in the month of january so they're off to a strong start while boeing got shut out >> and phil, i wanted to ask you b about tesla because new fears were i guegnited today these could cannibalize sales of existing models.

>> he asks it more as a rhetorical question. the question is this when the mod l yrk comes out, will it cannibalize demand for the model 3. 80% of tesla sales are the model 3. the model y is a small crossover utility vehicle and when it comes out, tony from bernstein asked the question e well what's going to happen with the sedan sales, specifically the model 3. he said historically, luxury brand car sales, they fall between 10 and 20% when a crossover utility vehicle is introduced the model 3 by the way, responsible for 300,000 of tesla's 365,000 deliveries last year so it is the popular marylaodelt now. as you look at shares of tesla, guys, we would love to say this is the kind of thing that's influencesing how the stock is moving today, but it's all over the place over the last couple of weeks

>> thank you very much and tesla has had an epic rally to kick off the start of this year, silencing many of the bears. it's up 87% in 2020 alone, but how long can the rally last? with us now is rich ross, head of technical analysis every corp. ici. >> thank you very much look, we love the stock market but we don't like this stock here we'd be a seller at these levels first i'm going to show you where we came from then how we make some money. what did we see? very extended trading range. for years, the stock does little that range is 190 on low end, 390 on the high-end. we take the height, prosxwrekt it out what we know already is that the stock went well through and had a failed move to 1,000 we get this extreme overbought conditions

when we zoom in and look at what's dpoipg on on the daily chart, we see clear evidence this is the textbook bearish reversal this is the best tool we have to identify exhaustion. we see a strong move up to the pattern. this is the capstone of the moou we mentioned the failed move into 1000. this is called a gravestone if you will clearly, if it's called gravestone, it's not good. now we've been consolidating the last few sessions, but for us, the failed move into 1000, it sets us up for a test of these moving averages. 600 year then the 50-day around 500. i think that's your downside so with the stock like tesla with a big, shorlt interest, yes, it's come down around 70 17 from the low 20s. you have to keep those stocks

close by for fear of run over so keep a tight stop i'm going to let you manage your ris, but to me, i'd be a serl these levels 823, 882, downside to 640. 500. that's what i'm doing in tes ha. >> i was going ask you to bottom line me, but you just did. thanks very much appreciate it. rich ross. >> to the bond market and rick santelli tracking the action at the cme. hello, rick. >> hi, contessa. fascinating session. as you look at two day of tens, not a wild range about half the range of yesterday as you see but the highs and we are on the high yield low price of the day just under 160 so at least in the near term, if we get above 160 late in the session, for a bit of follow through, but it was still less than ten basis points away from one of the kilo closes and 146 is the cycle low close look at a two day of euro versus

the dollar it's up a smidge against the green back but if you look at the dollar index, it may be enough to break the winning streak of the dollar index because the euro is is 57% of that index there's been a lot of talk today about the fed. and what's going on with powell and is there going to be any rate cuts in the future. if you look at the july meeting because there are log jams in terms of the b probablyties, that's the only one over 50 purse, b50%. when they move, the percentages change contessa, tyler, back to you >> thank you for that. rick kewong up, samsung's fold on e mpany missed the mark. will this new flip phone be a hit? stay right here with "power lunch. we set out to make the best bike on the market,

find the best instructors in the world, and tie it all together with a world-class software experience. we ended up creating, as you all know, so much more. peloton is truly a category of one and we're just getting started. now, let's do this. together, we are going further than we ever thought possible. samsung showing off an

updated version of its galaxy fold a phone with a foldable screen and josh lipton, who is not foldable, has the details for us >> i am here at their big show in san francisco and they just unveiled the star of the show, the new folding phone so that is the gal xy z flip. it's a 4.2 inch device with a 6.7 inch display so more screen in a smaller form factor the starting price here is $1,380 the release date is february 14th available from at&t, sprint, best buy and of course samsung the colors available here in the u.s. mirror, purple and mirror black. the questions here is are consumers going to be excite d about this device. also developers have to be enthusiastic enough to put their money and time into now creating

the product. what kind of dollars will samsung put behind the product i caught one patrick moorhead. he believes in this folding phone, the design and the form factor he thinks to push the smart phone industry forward he says initially, samsung's going to have competition from rivals like motorola, but he believes that other rivals like apple are going to have to unveil a folding phone >> just got ask though, is there anything else to go with the phone other than the fact than it flips because 1400 bucks is steep. >> i guess what excites people is that it's a new u factor. of course listen, it's not the first folding phone from samsung.

we saw the fold. it was at $2,000 what they announced today has a glass display. that galaxy had a plastic one. the initial versions, they made headlines for the wrong reasons. they broke easily for some reviewers. our own reviewer did not recommend this device. >> great we'll be waiting for that. lyft reporting after the bell xtrtet jou set for that repo ne on "power lunch." what's important to you.ts w saving for ava's college. being able to retire on our terms. taking care of dad. why ameriprise financial? my advisor cares about my personal goals. he gives us comprehensive advice. i feel prepared for what's expected in life

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welcome brack. shares of lyft are lifting off lyft has a tough act to follow, though, as uber ceo got wall street excited with these words. >> if you look at our plan for 2020, from a dollar per revenue growth, we expect to drop 50 cents to 55 cents to the bottom line we think that's absolutely doable to get to profitability by q4, but at the same time makes the same kind of investments we want to make. >> raymond james analyst justin

patterson joins us good to see you today. he was throwing down the gauntl gauntlet, wasn't he? >> it's a heavy lift you still have to have some op-exdiscipline in place lyft saw significant he sales and marketing, and we think that will continue in 2020. there's a lot to still prove out here >> last years lyft's ceo said it would be profitable by the end of 2021, if they exclude some costs. excluding those costs one could be pivotal and two, because uber is the bigger competitor now, does lift have to try to revive that profitability you. >> uber's excluding a lot of the

sam costs. for the other component by q42020, there's a lot that lyft has to do, part of that is top-line growth, and there's a chance you could see the profit target move up, but i would be surprised to see lyft come out and match q4 2020. >>ed classic textbook would be you either cut costs or increase revenues, which often means increasing prices. why don't they both increase prices to drive profitability? >> that's a great point. they have both been doing that really throughout the spring period you saw a bit of elasticity. active rider growth slowed the past two quarters.

we think we'll see rider growth improve over the second half of 2020 so it's a healthy market, shows some op-exdiscipline, bess less promotional and tlth a pathway for both companies. >> i may be completely full of it in saying this, but they feel like the purer play. >> you're getting a pure play on the north american market. you don't have to worry about international competition, which has been a big issue for uber in

the past we think lift is often time the cleaner story of the two. >> justin, thank you "check please" is next you can always, always -- >> are you looking at me >> always watch us live on the go othe n app, the cnbc app. we'll be right back. my biggest fear was losing my independence. mmm... good. so i've spent my life developing technology to help the visually impaired. we are so good. we built a guide that uses ibm watson... to help the blind. it is already working in cities like tokyo. my dream is to help millions more people like me.

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suisse which is upgrading boston to outperform on the basis of its seltzer business the firm predicts boston beer seltzer drink will truly represent this -- get this, tyler -- 60% of the port for the i don't by 2020. the boston beer company -- >> well, they have to use the lionel richie song truly as their song. >> if i don't know that song --, i know "hello. >> you know "truly." i'm not sold on the seltzer. i've tasted it >> add some vodka and cranberry. >> yes, if you make it not seltzer, it probably tastes better bitcoin, do we have a chart. >> that's $40,000, not index

numbers. today bitcoin is up almost $500, or almost 5% above $10,000 that is the story of the day bitcoin. thank you for watching "power lunch." "closing bell" starts right now. see you tomorrow surging up 75% after a judge clears the way for the merger with t-mobile. a mixed picture with the overall market and we have 59 minutes left to the close. let's look at what's driving the action today , and an impact on thesa