welcome to "power lunch. stocks are selling off this afternoon once again today we are watching some big numbers this afternoon first, 2,000, roughly how much points the dow is down this week alone. 09,456, the number of new coronavirus cases in the u.s.

yesterday, another record high how concerned should we be about our health and the health of the economy? and three full days until the presidential election. a live report from what could be a key county in the deciding of the election "power lunch" starts right now welcome to "power lunch. another down day for the market. it is the dow clearly outperforming the nasdaq three of the four tech giants reporting yesterday are lower right now. apple, amazon, facebook, google in the green twitter off its low hitting a major roadblock today. exxon and chevron under attack and underperforming. are these stocks still worth investing in we'll get into all of that we begin with stocks closing out a bad week and a bad money bob pisani tracking the action

for us >> good to see you it's a tough end of the week and tough end to october look at these stats here we're not closed yet but still pretty bad worst week since march 20th. dow's worst month since march. it's the second straight down much for stocks and fourth straight down october in an election year. there's a macro problem and a valuation problem. the macro problem is we've got a virus outbreak that people weren't anticipating even a few weeks ago surging cases and no stimulus on deck the valuation problem is related to tech and melissa referenced the fact that the big mega cap reported good numbers but the prices are really high look at amazon's pe multiple s today amazon is 71 traders won't pay infinite

amounts are money for these stocks there is point they will say no. the earnings having been dropping, the prices going up. amazon 60, facebook 28, apple 47 keep an eye on the s&p 500 3246 was the low we had a little while ago back last month. if we drop below that, the s&p will be back at levels in july that we saw. that's a down trend. we'll keep an eye on that. guys, back to you. >> thank you so much, bob pisani >> there is an anti-social media trade today, facebook, twitter and snap being sold off as well. >> julia >> facebook sinking nearly 7% despite the company reporting results that beat expectations on the top and bottom line what's dragging on facebook shares is the fact that the number of users in the u.s. and

canada declooined from the secod quarter which saw a covid boost. limits on its ability to target ads from privacy regulation could drag on its revenue growth next year. ceo mark zuckerberg spoke about facebook's responsibility to mitigate the risk of civil unrest, which he says he's worried about by clearing you confusion and says they're working to prevent manipulation around the election. twitter shares plummet 21% despite, like facebook, beating the bottom line. twitter adding just 1 million monetizabe ablable daily active in the quarter ceo jack dorsey is making changes that should help grow their base in the future and they're working to make sure twitter is a trusted place for

election news and information. these two companies are under an immense amount of pressure right now. >> julia, what is the primary concern here that the growth they just demonstrated in the past is slowing down and they're being priced accordingly or is it that eventually because they're not adding as many users, that advertisers will go elsewhere? >> well, look, i think these are two very different companies it's an important time to separate the conversation about twitter and facebook facebook is an enormous company, and the question of the growth in the u.s. and canada is one that we've been talking about for many years now the question of how saturated is the social media audience, especially in north america. north america being the most profitable users for facebook. so the fact that those users surged in the second quarter and now are declining just indicates that facebook is going to have to look elsewhere for growth those other places include making money from messenger and

what's app twitter is a much smaller service and they are using to not just grow their user base but make more money off of them. they saw really meaningful growth in q2 and the question is if it was a fluke when it comes to user base >> julia boorstin, thank you >> it's the fourth could be success tiff ti -- consecutive indices have dropped in an election year. welcome to you both. ron, why do you think we're off

worse than we were we basically erased october's gains. what's the big deal? >> i think the big deal is really covid even the uncertainty around the lebs a election and disappointment over tech earnings, when you have month-long lockdowns in france and germany, not just in health terms but in economic terms to the united states, there are issues going forward so our third quarter gdp numbers in the rear view mirror, you look in the jobless claims, it's still over a million so this notion of a v-shaped recovery i think has been misguided from the start and, go, we're looking at a w and a k going forward where it's very choppy, very sluggish recovery and also those who do well do better and those not faring so well do worse. that's really the order of the day and that's what's got the market's attention at this junctu juncture >> what an extraordinary week in

terms of not just the selling pressure but the volatility up 38 or so% on the week. how are you positioned going into the final couple months of the year seeing how the elections are in just days and presumably, hopefully we'll have a clear winner in a matter of days as well >> first of all, we expected the volatility that we're seeing right now. when we looked back in september, we saw that the contracts ending october were selling a tt a premium. after the election, we're going to see the vix come down and we'll see a more stable market and i think we're seeing now mo tension -- potentially a rotation away from text and into other areas of the market that haven't seen the same kind of run-up. for instance, value stocks or even mid and small companies >> mid and small companies on the notion, ron, that perhaps there will be stimulus coming.

also we're seeing a bid to banks, regional banks even in today's session, and up at 0.7%. the conventional wisdom, ron, is that rising rates will benefit these banks and rising rates will come because we're going to issue a lot more debt in order to spend more money in the coming years do you buy into that scenario. >> well, to a point, sure. and i do think a rotation, which we tried several different times so far this year might stick at some juncture, particularly if we get stimulus. i do think with respond to next tuesday and beyond, certainly the end of this year, i'm not sure how stable the market's going to be. i'm less worried about a contested election these days, i'm less worried about the outcome than i am about the federal government's inability to put a relief and stimulus package together and we even heard from mitch mcconnell today that that might not happen until the first of next year i think it's a critical period in which people's income and savings, which in april and may and june got as high as 35%, that's savings rate is now down

to 14% without any more transfer payments from the government, they could buy that down going into the end of the year and then be stuck. the rotation makes sense, assuming we get stimulus and get our arms around the virus. if we don't, then i worry more about the economic outlook, not just the human toll but the economic toll that could be taken on the u.s that could make for a much more volatile market than we're expecting right now. >> lorine, it sounds like because you're anticipating volatility to flatten out that you don't see the scenario that ron is seeing, that there is worse to come when it comes to the pain consumers will feel out there in the economy >> when you look today, even when we saw personal income numbers greater than we expected and we saw personal spending higher than we expected, i think we continue to see good numbers, a strong consumer -- >> but those were september numbers, lorine. that's before the virus started spiking again. >> sure, absolutely. but what we've seen consistently

are good economic data and certainly we do have a rise in cases that will impact us and it may take longer to recover we've certainly had an uneven recovery we know that that will continue with certain yaers of the market doing better than other areas you were mentioning financials we think the financials have a good opportunity, like you said, where eventually interest rates will increase, as well the financials have been keeping quite a bit of money for potential defaults those numbers may be too high and excess will fall to the bottom lien. >> good to see you both. we are continuing to track this market selloff as we wrap up this week and month for the market tech earnings weighing heavily today. but the spike in covid cases have been dragging down stocks ekl we much more on that next on "power lunch. ♪ you can go your own way

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the widespread vaccination only 1,500 say they will only make a vaccine available when it's safe and effective. 39% think the companies will rush because they're motivated by profit or political pressure and some say both. one split comes along party lines. 62% republicans versus 47% of democrats. independents match the concern of democrats and another interesting split we have right here is women age 18 to 49,er that among the most skeptical groups we can find when it comes to a coronavirus vaccine that could be a critical group when it comes to a family's decision about whether to take a vaccine. the takeaway here when it comes to this vaccine, politicians, government agencies and industries have a lot of work to

do in convincing a skeptical public about the safety of a vaccine. i think that matters, no matter who end up being president >> i think it's a symptom of what i've described as the erosion of institutions in america over the past decade or more, where people just don't trust institutions the way they used to, steve >> i think that's right. i think what has to happen is the politicians have to back off the scientists here and let them run it scientists aren't perfect but at least they have the capability of maybe getting the trust of the public when it comes to a vaccine. >> steve liesman, thanks very. have a great weekend here to weigh in on a race for the vaccine and concern over how many americans would actually take it is it dr. john torres. dr. john, welcome. good to have you with us do you think people will be willing to take this vaccine when they are told it's ready? >> tyler, i think that's the

point that steve was making there that right now there's a lot of vaccine hesitancy out there. a lot of people save we don't necessarily trust the process going on here for a couple reasons one, we keep hearing this is a record breaking time in developing a vaccine. the difference between record breaking times and taking shortcuts are two different things they're not really taking short cuts but that message isn't get to people for a variety of reasons. and the erosion of the trust in science and our plut call leaders to tell us exactly what's going on there. i think the vaccine hesitancy will be huge, at least at the beginning. it might erode over time where more and more people get it, i think initially it's going to be a tough sell >> how worried are you about the case counts now hitting records day after day? i'll tell what you i'm worried about and that would be thanksgiving when kids come home

from colleges, when families gather in presumably larger groups indoors in many parts of the country. how worried are you? >> tyler, i am very worried about this it like you said, thanksgiving is going to be a big bellwether as to what's going to happen the rest of the year and this part of the pandemic. part of the reason because as one expert put it, we're coming into six weeks to 12 weeks of what he called the darkest period of the pandemic so far. look at numbers. right now we have over 9 million cases, over 230,000 deaths yesterday we set a single-day record here in the u.s., not something anybody wanted to see, over 90,000 cases in the u.s. and over 30 states are seeing a thousand cases, talking about hospital systems being overrun and we're are not yet into our winter months. we know once people start traveling and getting together with family and friends, that's also going to cause spread of

the virus. right now the human behavior is showing us we're having a hard time controlling the pandemic using the simple measures, masks, social distancing, hand washing. that's going to become even bigger once people start getting together i think we're going to get worse before we get better ant that's a huge concerning thing. we know these things are delayed by a couple weeks. we're seeing 09,000 case as day. a couple days we'll see more hospitalizations and a few weeks after that more deaths think think that toll will continue to be taken as the weeks and months go on before we start getting it better under control, unless reall step in and do those things i just talked about, tyler. >> dr. john, thank you retch we appreciate your time today. boy, melissa, it nice to see you. we were working out a few technical glitches it's great to have you with us >> i'll glad the gremlins are

gone, at least for now >> with no covid-19 vaccine ready, vacation is the last thing on anyone's mind michael brown is president and ceo of windham destinations. welcome to the show. great to see you >> thank you >> you guys were completely shut down in the second quarter you noted improving guest flow every single month but the third quarter. what are you seeing now in the latest months of the fourth quarter in. >> well, again, it's great to be back 97% of our resorts have now reopened, and the consumer behavior is actually quite different than what we saw in july and august where we saw daily infections spiked, you saw cancellations to our resorts really spike as well 90 days have gone by as we've seen the spikes here in october, oddly enough

cancellations have not risen with it. whether that's a result of covid fatigue, people have learned how to travel and travel safely and chosen companies like ours until these last three weeks, we haven't seen a change in consumer behavior as far as wanting to get on vacation into next year. >> so the kind of vacation is slightly different from let's say windham resorts where it's a hotel model. this is different where you would have a time share. it's more like apartment living, at least for that period of time that you're on vacation. how does that contribute to what kind of traveler you're going to see and the risk of going on a vacation >> i think it lines up with the macro trends people want more space

they want their own kitchen and leisure room and that is attracting vacation rentals. so that has been a big support and a good attraction to our business during covid. additionally, the big trend that we've seen change is we traditionally get about 7 out of 10 customers arriving to our resorts by car during covid, it's now 92% if you own a vacation, you paid for your vacation, you really only need to fill up the car with gas and get to your resort and know that you have space with a brand that's invested very tell and did their health and safety protocols >> what are the greatest values right now in terse shares. as you mentioned, people want to drive. maybe hawaii is out of favor that might have been once a highly valued time share how has it changed >> i think to your point hawaii and the caribbean are always

going to be great destinations and we're excited about the reopening that's under way in hawaii the reality is in the short ter and treats i know tyler is from virginia and resorts like a mountain retreat have had higher occupancy than this had in 2019. what we're looking for in 2021 is for bellwether locations look los angeles and orlando to return just 60 days ago, o are land owe was our number six demanded destinations and 60 days later it now our number one demanded destination for 2021 people are looking for 2021 to get back on the road and enjoy their personal time on a leisure vacation >> michael brown, good to hear from you >> i am from virginia and have been to the west side of the

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welcome back to "power lunch. wall street ending with another selloff, s&p detracting for the month. t autopsy industry, under armour, all bucking the trends let's bring in the trading team. danielle, i'll start with you.nl sector aiming toe positive on industrial cash flow on next year but you're still a believer in the stock tell us why. >> primarily because it's been very soft this year and it has rallied throughout october looking at the chart right now, can you see it just rallied

directly into the 200 double period moving average. that looks like a great plate where i could sell some call credit spreads on this rally >> and, craig, you look at autopsy industr tapestry what does the chart tell you >> the chart looks quite bullish here i would stick with this trade into november. you had your beat-and-raise quarter, and from our per expectative, the next resistance comes in around $28. again, nice 25, 30% up side from current levels i'd still be a buyer of this name in here >> all right craig and danielle, two names we'll watch into the new month can you believe it, done with october. follow us on twitter we will coo

monitor the selloff as you see here the dow just taking a leg lower moments ago. we're down by more that 400 points, s&p 500 down almost two full percentage points crude oil down 10% fe closing numbers next >> now, the latest from trading nation on cnbc.com and now a word from our sponsor. before you reach for yield, be sure that the stock is also fundamentally sound. stock slices. for as little as $5, now anyone can own companies in the s&p 500, even if their shares cost more.

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welcome back, everybody. here is your cnbc news update at this hour. georgia governor breen kemp and his wife are going into quarantine after attending a pro-trump event with house representative drew ferguson who has tested positive for the

coronavirus. and wisconsin's governor says their covid-19 numbers are, quote, alarming. he makes a blunt appeal for people tpr and stop it in its tracks, people have to wear a freaking mask simple as that and how can we convince people to do that we need to have our leaders wearing a mask >> and the detroit tigers have hired a.j. hinch to be their new manager. he was fired from the houston astros and suspended by major league baseball for his part in the astros' sign stealing scandal. his suspension ended after this year's world series, which the dodgers won on tuesday you are up to date ty, back to you. sue, thank you very much the dow is really going back to march kind of days where we're down multiple days in a row. this is going to be the worst month since march if we close

right where we are the temperature is like march. the dow industrials off 440 points that's 1 2/3%. s&p is off more than 2% and nasdaq and some of the technical names slide today below 11,000 now, off 3%. melissa. >> oil markets are closing for the day, slipping further from that key $40 a barrel level. on the week wti is down more than 10%, settling at its lowest level since early june 36.50 a barrel right now october has been oil's worst month since march. meantime, earnings a bit better than expected for the two best energy producers, chevron and exxon mobil. chevron stock a little higher today after reporting third quarter profit exxon mobil down after showing a loss for the third quarter in a row. both stocks are down more than 40% this year.

should investors still believe in big oil let's ask paul sanke, lead analyst. is this a case of we got to see demand pick up in order for any of these stocks to have hope >> certainly for exxon exxon is more exposed to end oil markets and that's where they're suffering. refining backs a jet fuel problem for that chevron is more an oil production company so the $40 oil prices is okay it doesn't help that oil is plummeting back down again but still less exposure to the really worst part of this whole environment, which is very much refining and selling jet fuel. >> i get what you're saying about chevron, paul. but the fact of the matter is this whole group trades along with the price of oil at this point. so what should investors be looking past

when do you think that correlation will break for a name like chevron, which you seem to favor, even in this environment. >> i don't think it's going to break. these are huge oil companies that produce huge amounts of oil. the question is when are we going to rationalize the industry that could come as soon as next tuesday. if we get a 3d, if we get a blue sweep, we could see significant reduction in u.s. oil supply as a result of higher regulations on the environment exxon add chevron, particularly chevron, are very responsible in terms of flairing and methane emissions. it's really the tail of the u.s. industry that has emissions. it could get shut down, which would tighten the market we need less u.s. oil supply and more demand, which i think we'll get. >> i want to underscore that i think the assumption is that you see that blue sweep and

that's negative for big oil but what you're actually saying is because of a blue sweep there will be less production for whatever reason, and therefore the price will go higher, which is ultimately the main thing these companies need >> right, melissa. i'll write that down and steal it from you. thank you. >> exxon mobil, how concerned should we be about the dividend? >> everyone is concerned it's 11% yield, which is normally a very bad sign i was watching earlier and there was a warning that you gave that 11% yield is not necessarily a good sign. what they said today is slightly odd. they said they're not going to raise gross debt anymore they're going to continue paying the dividend from cash on the balance sheet, but it really sounds as if that cash runs out, which it will over the next year, it sounds like the dividend is going to get cut so it's imperative for them that we get back to flying, that refining comes back over the

course of the next year. they can't make it another two years like this. the dividend will have to go >> in the broader energy space, and this may not necessarily be your area of expertise, but solar has been catching a bit on this notion there will be some sort of a blue sweep happening next tuesday solar, sun power really sitting a bid at the expense of big oil. is that a trade in your view >> my web site will tell you, it's an energy transition on wall street is what i do i was watching the sun-run ceo on wednesday in an interview she's very impressive, she had a great concept when she started out. those stocks, as you know, have sold off recently in the past month or so, in fact as biden became more likely to win, which is interesting tesla is the same. but the mega theme here is interesting. the mark cap of the companies is so small that the investors are

really struggling to deploy capital. so regardless of valuation, there's just so much money trying to ford its way into the sector that the outlook certainly for the beginning of the biden administration is extremely positive and basically these things are economic people wanting more so the panel's more electric cars, more control over their own home energy that's a mega theme that i think the market is going to keep buying regardless of who wins the election >> all those fund are tripping over themselves to deploy all that money >> shout out for the friday night roll call. than thanks >> paul, thank you tyler. >> thank you still ahead, we are watching markets on this volatile day what else is there to watch other than the rain drops? the dow down over 400 points now. right now 427.

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welcome back as you see there, the market losses are steep ening as we hed

into the final moments of trade for the week the s&p is down by 73 points we should note apple as goes the market, pretty much close to session lows as well 108.14 was the level 6 1/4% was the loss in apple amazon and facebook suffering as well you see there those among the biggest decliners. >> to the bond market we go. mr. santelli tracking the action, cme. >> hi, tyler a lot of derisking going on in equities and very little safe harbor trading pushing yields down it's exactly the opposite. we've had good data this week. one week of 10s, up 2. bunds down half a dozen basis

charges. you can clearly see we're going out at the best levels of october. look at the bunds, exactly the opposite they are not only going out towards their lows, but in the grand scheme of things, the european markets are having a much bigger problem than the u.s. look at one week of the dax, down close to 8.5% even the s&p is down a little over 6%. i'm not saying that's a good comp but europe is in much worse shape. the way they're dealing with the shutdowns is a little less than the way the u.s. is dealing with it the dollar is down close to 2%, the dollar having a pretty good week back to you. >> still ahead, two counties in minnesota have become emblematic of the race to the white house we'll take you to rochester. >> and americans facing another potential virus surge and slow recovery we'll ask the ceo of raymond

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welcome back, everybody.

minnesota becoming a late stage battleground in fact, the president and mr. biden will both be there later today with two counties in particular being targeted by the president and joe biden. brian sullivan is live in rochester, minnesota with a look at where voters stand right now. hey, bri >> reporter: hey, thanks listen, in every state we've been on this election road trip, road map, whaef tever we call i there's only a couple of counties that matter olmsed county but here in rochester, it is all about health care. bus this is the home of the mayo clinic health care defines this economy, tyler health care really define, the american economy we know it's big but here are some stats that you might find dare i say random but

interesting. 11% of the american work force works in and around health care. it is about 18% of government spending it's about 20 to 25% depending on your estimates of u.s. total gdp and according to the kaiser family foundation, the average family employer sponsored health care premium is now about $21,000 per year the affordable care act is a big deal when these voters in minnesota go to the polls. an overwhelming majority of democrats want to keep it, anovan overwhelming minority of republicans want to scrap it health care going to be one of the defining issues of the state. donald trump, our election calculus on the trip happened to work out because donald trump will be here in rochester in a couple of hours. joe biden says he's not worried. but if you're making a late stage move to a state, it means

you're maybe not worried but probably a little bit concerned, guys i can tell you a poll that says that biden's up by 10% but i can find you a poll that says statistically they may be tied hillary clinton won statistical tied in 2016250,000 swroets went to third party candidates we will see what happens this year donald trump thinks he might win it it is goc to be a sail of two states in so many of these states which is rural versus more urban, health care at the home of the mayo clinic. a big time and big dollar issue as these voters go to the poll shhh health care huge, of course obviously, so there at the home of the marrow clinic, but racial justice and criminal justice really a part of the minnesota story this year with the killing of george floyd in minneapolis how is that being filtered into the campaigns being remembered by voters and what the

candidates are saying? >> of course it rings huge, tyler. and it rang huge in kenosha with the shooting of jacob blake. he survived, of course but the city we though went through a lot of unrest. the small business owners we talked to -- mostoff camera. nobody wants to go on camera because they get lumped into some viewpoint is that they want stability. they all want stability. they want healing in this country, certainly in minneapolis, still reeling from may. it is going to be a major part of that. the president is trumpeting law and order. biden calling for more peace and bringing people together we will see what ultimately wins out. the common core, health care, especially you are right here in minnesota and where we were before, in kenosha, wisconsin. gough these huge issues of social and race racial injustice and unrest which are going to be on the minds i guarantee of

every voter who goes to the ballot book in those two states in pennsylvania and probably florida are going -- really, five states are going to move this whole thing, and just a couple of counties in those five states we are here now. i will see you on "closing bell." on monday we will be in michigan on the final stop this election road map road trip. >> a part of the country that know very well brian, thanks very much. melissa? growing uncertainty about the virus, election, and economy spooking investors just moments ago we got news that san francisco is putting a pus on its planned reopening what are the bigst asset managers telling their clients right now is this we will ask n'e ceo of raymond james next. dot forget you can always watch or listen to us live on the go on the cnbc app we'll be right back. hey, dad! hey, son! no dad, it's a video call. you got to move the phone in front of you like... like it's a mirror, dad. you know?

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stocks continuing to sell off. they were flirting with being off again by 500 just a few minutes ago. now 438 on the dow wall street wrapping up a week the close out the month of october. not very good month. worst months month since march a slew of companies reported earnings this week raymond james reported a record profit how are they advising clients given the current market conditions

now joined by ceo paw riley. great to see you again >> great to see you tyler and melissa. great to be here. >> fantastic why don't we go through your results, which were very, very nice based on the quarter and based on the full year i'm assuming that a lot of that performance came from assets under management and expansion there. >> it is interesting certainly we had a great record capital mark this quarter if you expect with the volatility certainly, m&a, underwriting net equities, it was a great quarter. what is really kind of shocking as you think of the pandemic and the march, everyone going and working from home overnight. social unrest, upcoming elections, all the economic uncertainty, that we could end the quarter with record assets, client assets under administration is really kind of remarkable it is really a result of our advisers their clients really need them in this period of time with all this uncertain

and their advice in keeping them invested and doing well has really been the difference the other surprise is that we had our -- >> so -- >> i'm sorry >> go ahead, i'm sorry. >> we had our third best year recruiting that's after closing all the brarchs, you know, for -- branches, you know for a number of months. we are off to a great start for this coming fiscal year. give the pandemic, surprising results from where i sat in march. >> yeah. i would like to spend sort of the rest of our time today talking about what you just mentioned. that is the relationship between the financial advisers and the clients at this particular time, where there is covid, where there is an election, where there is a recovering economy, how fast, how much, we don't really know. and you look at all the job losses what are clients asking? and what are the f.a.s telling them i assume they are telling them, if you have got a portfolio you

like, let it ride, don't ut touch it >> i think first investing as woe all know is a long term game elections come up every four years and the world seems to survive them if you are investing for the long term you don't let short-term uncertainties that's the same with portfolios. now you could say i am really afraid of covid and wave two so you may get out of covid-sensitive industries like people did early in airlines or restaurants or theaters and into the consumables. a lot of people investing in those types of consumer goods because they felt they could ride through it. the important message is stay invested if you are afraid of some segments that's okay you can adjust through this period of uncertainty. certainly we don't know what is going to happen over the next six months with covid long term. i think we all feel comfortable we will be able to live with the virus and defeat it in some ways but go ahead and make some

adjustments through the uncertainty but content run away from the markets long term >> two quickies. are you seeing any increase in cash holdings? quick, please. >> yeah. slichlt our cash holdings are up to over 6% they were almost 11% in '09. they are lower than our long term average but they are certainly up from premarch any time you have a lot of volatility like this week we will see next week that they send to go up as people, you know l sit on the sidelines a little bit more when they are nervous. again, still under our long term average. >> all right home of the stanley cup, tampa and a real good football team this year, paul riley, thank very much. we appreciate your time today. >> and a good baseball team as well >> and a pretty good baseball team you got that right melissa. >> of course tyler as we go into the closing hour of trade for the week we are watching very carefully the markets. what really stood out to me

tyler on the week is that gold and bonds didn't get too much of a bid despite the market turmoil. that's something i am watching going into next yooek. >> that's right. it doesn't look like the money is going out and repatriating into the traditional safe havens melissa great to see you >> great to see you. >> thank for watching "power lunch," every. have a good weekend, folks "closing bell" right now >> thank you very much and welcome to "closing bell," i'm sarah huckabee sanders here with wilfred frost. stocks are sharp will he other on this final trading day of the month. the major averages on pace to post their worst week since back in march let's look at what is driving the action right now big tech names are seeing sharply dines on the back of earnings of a.m. apple, facebook, amazon all down. shaving billions of dollars of market cap from those names and from the major afternoons. alphabet is a bright shot moving higher after smashing earnings estimates, seeing strong gro