mix and match or just stick with the shots they got appreciate it. thank you for the latest there that does it for the change. thanks for joining us. "power lunch" begins right now >> it sure does, kelly thank you very much and welcome to "power lunch. this is a busy day a bit of a rebound day stocks, however, losing some gains after an earlier attempt to bounce back after yesterday's big selloff. is it time for ibnvestors to start nibbling why it may pay to get selective and defensive. and blowing in the wind. the next two weeks could define the next decade for the alternative energy source. a top analyst has a list of stocks he thinks could benefit and a working lunch with the ceo of outreach. jon fortt will tell us how an early career crisis helped shape

this ceo's business today and why a handshake in the current environment no longer seals the deal >> here's how markets are fairing. we've already turned negative once after yesterday dow's up 50. s&p up five. draftkings is making a $20 billion offer for the uk sports betting company. the stock down about 5.5% on the news that have first reported by david faber. mgm i believe would have to sign off. uber shares are flying after saying they could reach key measure profitability sooner than expected. we're still just under 45. as stocks have fallen this month, there have been no earnings reports to save them but that's about to change with a couple of big reports this week and reporting season kicks off in earnest in a few more weeks. can the numbers meet the lofty expectations with all the worries that are out there

bob pisani joins us now. >> hello as we approach the end of the third quarter, investors are carefully watching earnings estimates for the third and the fourth quarter for clues on how stocks will trade in the final three months of the year earnings estimates for the s&p 500 have been steadily rising and are now expected to grow over 45% versus just 25% growth expected back on april 1st actual earnings reports have beaten by very wide margins. 18 to 20% in most cases, forcing future estimates to be revised higher future s&p earnings for the third quarter are expected to be up 29% from a year ago in recent week, those estimates have stopped rising, but not because of worries about the economy. it's because there have been no earnings reports for several weeks for the analysts so play off of that's what they need to change the estimates. that's changing because they're

starting to get earnings reports. today, auto zone reported earnings and comparable sales that were much better than expected today, after the close, adobe and fedex will report. on thursday, costco and nike and nike i think will be the most important one because that's truly a global company. they get about 40% of their sales in the united states 60% outside, so it will be interesting to hear what they have to say about how covid or anything else is affecting their sales. kelly. >> i'll pick it up our next guest has trimmed his equity position from about 80 to 60%, but despite being more cautious these days, he said he would selectively start buying today. very selectively here with his ideas, senior portfolio manager at washington crossing advisers. what told you a few weeks ago to start trimming back on your equity position? it's not a major selloff you're coming down from 70, 80%

to 60%, which is kind of what people recommend >> so we've been doing that over the last several months. we have a barometer we follow in a non-biased way you're seeing a slowdown within the economy. perhaps it's covid related perhaps there's other reasons. in particular, capital investment, employment trends look a little light and of course as you know, your valuations are quite lofty and earnings expectations are quite high we think that with this big fiscal rescue in 2020, potentially in 2022 you'll start to see some head winds from the fiscal policy. >> so take me inside the portfolio manager's mind here and tell me what you sold and what led you to sell what you did sell

>> so we actually trimmed back the broader etf, which was the russell 3000 from our tactical allocation portfolios. we also actually increased our exposure when it came to fixed income modestly due in part because of our barometer readings decelerating. again, we're still modestly overweight equity exposure, but of course, you know, as the trends start to change, we also have been moderating our portfolios >> so let's talk about the things you see today as representing some form of, some opportunity in the marketplace these are quality names. they are, i would say defensive names. give us your buy list right now. i know there are three that are bubbling up, so to speak, to the top. >> all three are large cap, growth although quality names that we believe are rising dividend

companies. one is walmart walmart is a company that has been making that transition to online the valuation is not justified we think it should be much higher over the next three to five years based off of perhaps margin expansion we do believe in a short run there's been some margin compression because of transportation costs and some other costs of goods that have been a headwind that have pulled back the operating performance of this company and as well has left it relative to overall markets, a laggard so that portfolio, that company has about 1.7% yield and we think that overall dividend will rise over the next three to five years. >> go ahead. >> is there anything you do with the reopening play, things like uber, that part of the market, or anything that while these might be the sort of calmer ways to ride things out, there are some names that if you liked

them, you might be able to buy 12% lower here >> yeah, i think that we're about in the third inning of this reevaluation issue that we're starting to see. we're not anticipating a massive 20% downdraft, but overall, some of the lower quality companies have completely spiked over the last say six to nine months. that valuations are just not justified. so, kelly, we would recommend that investors stay in this quality spectrum and look at those type of companies like the johnson & johnson of the world that company is trading at a 16 times multiple in a market multiple today of 22 times well diversified product line. well diversified customer base i just see this as one of these seams of opportunity that is if you have a three to five-year time horizon, you could do really well and also get a rising dividend. >> and then the third one was pepsico, which speaks for itself

everybody likes chips, soda. everybody likes -- i like the stacy's pita chips johnson & johnson had a spotless reputation for decades going back to the tylenol case, which was so handled by mr. burke, the then ceo but lately, this company has taken some, i think, bruises in how it has handled, for example, the talcum powder issue, some of the other things involving painkillers and so forth you do not see those, let me call them scabs on the company as disqualifying in any way. >> so the reasoning behind us liking johnson & johnson is it has very little debt and if you include all of those issues into the valuation as debt and say you give a 30 or

$35 billion penalty for it, even with the 3 to 5% revenue growth assumption, the company over the next three to five years should do quite well with much lower volatility that's one of the things about these three companies. very low debt, you can still have those issues and still do quite well >> thank you very much good to see you. coming up, are stocks overvalued we posed the question to top money managers, strategists and economists we'll tell you their consensus plus, what's behind the recent drop in solar stocks and where do we go from here a whole lot more "power lunch" straight ahead i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this.

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welcome back to "power lunch. shares of warner music group trading at all-time highs following an upgrade to outperform an they say streaming and profit improvements and the note mentions universal music group which went public in amsterdam today as europe's largest listing this year. climbing around 36% by the time trading closed in europe they're arguing it will drive multiple expansion for warner. so kelly, some big moves

a 36% gain for universal music in the netherlands >> was that the ackman spac? ish. >> spacman >> thank you the s&p 500 is up 73% in 18 months after hitting its lows in march 2020 ever since then, people have been questioning the rally saying stocks are overvalued, but it hasn't stopped or really even slowed down let's go to steve liesman for the latest fed survey. >> yeah, kelly, the survey is the general rule believe the market is overvalued relative to earnings and growth forecast a lot of the times certainly during the rally you described. the news is that while still a majority, the lowest percentage of respondents since march 2020 think stocks are overvalued and that, by the way, came before monday's selloff

56% say stocks are overvalued. the lowest since the spring when the decline, pretty good buying opportunity from this group. it's down substantially from the 79% where it was a lot of this year so it was a bad signal then. the s&p seen topping 4500 by the end of this year and rising 4765 by the next of next year while the ten-year, that's at the end of 2022, so low interest rates forecast through the end of the period. these positive outlooks call for the fed to cut its bond buying in the months ahead. the taper announcement seen coming in november, starting in december and proceeding at a pace of $15 billion in reductions each month. the first rate hike not seen until december 2022. richard styburg saying a slow and steady taper should be positive for equities and inflation that could hang around

longer than the fed expects >> we're asking a lot of economists about the market, but obviously the bread and butter is watching the fed and what is your take away here? >> you know, i'm not surprised, but there was a shift, obviously. there were a lot of folks who in early august thought this taper announcement could come tomorrow but the covid came along you had the weaker jobs report so they shifted. they went out to november. expecting the taper in december. i think there's still some slight possibility that this time tomorrow we're announcing a taper, but i think that the market expectation has moved out at least two months or one meeting. >> so they'll talk about the idea of tapering, but not take action does the fed care that the market lost, what was it 800 points yesterday >> i don't think 800 points matters to the fed so much i think they're interested in how to the extent to which the

expectation their policy factors into that. i remember years ago, bernanke not being disappointed when he would talk and some of the wind would come out of the market so it gave him some flexibility, gave him some policy flexibility. i don't think 5,000 points matter i think what matters to the fed is systemic risk and that's where they get concerned >> thank you coming up, the unexpected stock winner if the d.c. spending bill passes citi thinks this could be a huge moment for wind energy and general electric plus, markets fighting to make a comeback all driven by chinese company, evergrande. we'll take a deep dive into what shook investors yesterday.

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here is your cnbc news update vice president harris is now the highest ranking in the biden administration to comment on pictures that appear to show a border patrol agent swinging horse reigns at migrants >> what i saw depicted about

those individuals on horse back treating human beings the way they were is horrible and i fully support what is happening right now, which is a thorough investigation into exactly what is going on there. but human beings should never be treated that way >> meantime, president biden and australian prime minister scott morrison celebrating their just announced nuclear submarine partnership as they met at the u.n. general assembly meeting. gary gensler says that the country is in a better position to absorb shocks from a major company than it was before the 2008 crisis. the comments from "the washington post" comes amid market jitters over what's happening in china and in charlotte, photos appeared on social media showing a funeral home truck with big signs saying don't get vaccinated it was a stunt arranged by an

advertising agency that's actually promoting vaccinations. got a lot of attention >> one way to get a point across, i suppose. thank you. or not let's get a check on the markets. stocks are struggling to hold on to any gains after yesterday's rout now down by 18 points. s&p 500 up by the slightest margin and nasdaq, 46 points higher not anywhere near where it was earlier in the session here are some of the other names we're watching first check out the major video game names like ea, take two and electronic arts. all lower over the past two days ea on pace for its worst day since october of 2018. take two, new 52-week lows next, credit suisse initiating ev go highlighting it to also

benefits from, that the company benefits from first mover advantage with strategic partnerships more on this topic later in this broadcast. and finally, cathie wood bought the dip during yesterday's selloff and in some cases, doubled down buying coinbase, zoom, and roku. three out of the four are higher the bond market we go, rick santelli tracks the action hi, rick >> hello, tyler. you know, we had a $24 billion auction in 20-year bonds today and the reason i bring it up is a little less than 17% of the auction went to the dealer community. that is the smallest amount since they brought the 20-years back in may of 20 and it really underscores there's an appetite out there. lot of cash. look at the two day of tens.

hardly disturbed by yesterday. a quarter to date of ten shows we're down about 15 basis points from the 1.47 yield we had on the last day of june and if you look at a quarter to date of the dollar index, it is currently running about three quarters of a cent higher. mostly due to the weakness in the euro currency. mostly due to the energy issues that europe is going to be experiencing or has experienced. finally, 30s minus tens is known as the knob in chicago always been a favorite of many traders and if you look at it right now, it's at the flattest it's been going back to march of 2020 why do i show that chart because most of the time, it leads interest rates meaning look for a soft patch here and we know right under 140 is remitted and has stopped the market as good resistance on several occasions. >> i don't want a flat yield

curve. i don't like stuff like that did you see the reverse repo figure was it 1.2 trillion. >> yes we're going to need a bigger boundary, a bigger stable to corral all that cash it's one more reason why my opinion that you don't see too much nervousness after equity sessions like yesterday or some of the issues going on in the property markets and containing various volatility in china. because there's so much cash out there to put to work if there's anything to worry about, it's most likely the fact that we all have our hearts in the right place with climate change you know what isn't in the right place? the efficiency of things that are needed to replace fossil fuels. if you want something to worry about, that's it >> and speaking of, thank you very much, rick. ahead on "power lunch," the solar stocks getting crushed yesterday. all as the clean energy revolution is at the forefront of d.c.'s spending debates

plus, we're sitting down for a working lunch. jon fortt rejoining us with another interview with another tech ceo it's hispanic heritage month and we're spotlighting cnbc leaders. >> my mom always told me status was important. i thought, yeah, right i'm a computer scientist one day, i'm doing my computer science on the trading desk at goldman sachs. boss comes by and says someone told you you speak spanish i need you to go to -- day after tomorrow, talk to our clients in spanish about risk management. that single moment got me out into the world lltrt.ore erything f mon wa see thank you, mom

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choppiness he said disney plus subscribers in the third quarter will increase by low single digit millions there will be growth, but he warned there would be choppiness even though they are sticking with their long-term growth objectives there so they are on track over the long-term, but it seems like the market is reacting to the fact that the third quarter subscribers may be lower than expected he did say that theme park demand is strong and that reservations are increasing. stronger for the fourth quarter than in the third and that demand for cruise ships is also increasing stronger demand in the second half of last year than in the first half so positive trends there, but seems like there is concern about some of the head winds he's discussing around disney plus subscriber growth and you see the stock down 3.5%. >> given the pe they're trading out, they probably need to get it just about perfect from the

market's point of view thank you. the oil market is closing for the day and we have the latest from the commodities desk >> oil's moving between gains and losses today before finishing in the green, although not a large enough move to make up for yesterday's losses. traders are digesting narratives on one side, there's concerns about evergrande and on the other, there's tight simply with shell saying production in the gulf of mexico won't be restored until next year. wti is at $71.50 up 3%. more actively traded contract up half a percent brent crude also up at $74.42 and take a look at nat gas where the eye popping rally is slowing once again down about three and a third percent. firmly below five bucks,

although, tyler, still up 9% for the september. >> thank you very much solar stocks rebounding today after a selloff yesterday. the tan etf, yes, that is what it's called, falling 4% so far in september christina joins us now with more on the big movers in solar christina. >> like many sector, you saw them take a huge hit yesterday, but the clean energy sector has been taking a hit for quite some time today, we're seeing an upward trend for a lot of these companies and right now, it's the buy the dip mentality. but let's talk about why this sector has been hurt so hard you got a crackdown in china hurting newtech. both down about 9% yesterday a credit suisse analyst put in a note yesterday there could be a tariff extension on all solar imports from china then you got supply chain issues that persist

especially since china is the world's dominant polly silicon producer the white house has banned the import over some of the materials over the use of forced labor. freight costs going up steel prices going up and a persistent macro interest rate hikes. not necessarily in the united states possibly in europe solar projects need to be funded with low interest debt in order to compete with fossil fuels if rates climb, there's less of an incentive to go solar, but it's not all negative as we know so today here in the united states, over 3% of the grid is sourced from solar energy. president biden aims for the united states to be 40% solar sourced by 2025. the only small issue is the lack of details on how we're going to achieve that goal. >> there's a long way to go and he wants, what, 80% of the nation's energy in total to be

non fossil or carbon creating by i believe it's 2035. so that means solar. wind, hydro. >> and you can get the electricity at night, too. what is the president, the administration, doing to change and help those u.s. supply chains the details, i guess they're still working out. i guess they published a report on it, but seems to be the critiques from the industry as a whole. >> appreciate it to wind now. as tyler mentioned, wind is the other big plank of this transition and saying the next two weeks could define the next decade for wind power. it all comes down to the passage of the spending bill in d.c. and our next guest says there are some stocks that could benefit, including ge joining us now, martin wilkey. it's great to have you here, martin so we're primarily talking about names like vestis, general

electric for, ge, how much does it train off wind power >> only one part it's more of a conglomerate. much more peer ure play the benefit can ripple through many companies in terms of supply infrastructure, supply and transmission networks. what we're looking for over the next couple of weeks, can we get the clarity that these incentives can drive investment because we have these big gaps by 2035 versus where we are today and be focused over the next couple of weeks, what's the commitment and clarity on getting these passed >> you're saying if the bill in its current form passes the way it stands, you see 30% upside to u.s. wind installation forecast possibly as soon as 2023 so give us the base case and bull case at this point and

which are the companies primarily affected >> the base case here is that we f begin to see benefits in 2023. there's a lag to building these products and typically a wind farm might take nine months before it becomes operational. what's being outlined in the clean electricity program is that utilities and suppliers will be incentivized to grow the power base from 2023 so effectively 2022 is the baseline year. so this goes through, you could begin to see growth coming from 2023 there are of course limitations. we know that transmission is a bottleneck if you look at the energy report that your previous speaker referred to that talks about solar, in that, they say a lot is going to come from about 2030 onwards and when we look at the upside to the wind market, we said it's about a 30% upside from 2025 through 2030, but actually, the market could be five times bigger annually than

current forecast from 2030 onwards. that just reflects the buildout time and how long it takes to build some of these projects so really an enormous opportunity. as you mentioned earlier, you're going from roughly 40% of zero carbon in the years to date, nuclear, hydro, solar and wind, towards 80% by 2030. so you really do need this big investment we need infrastructure on the transmission side. much of that could be going through a parallel solar storage and technologies like that so many moving parts to get it delivered. the 30% upside is kind of a bull case for the next five years but really a real bull case is wind installation is going to be five times bigger by 2030. even though that seems a long ways away, we get clarity on that, and some of these stocks

could reflect that it's worth adding this is not just the u.s going into this u.n. conference of parties in the u.k. that's hosting in november, other countries are going through similar programs in europe, the fit for 55 program is also looking to massively cut carbon so the u.s. is just one part of many things that could be driving renewables over the next decade >> if i'm a real investor here and i want to follow this legislation, what are the specific parts of the legislation that i ought to keep my eye on and if i hear word that it looks good for these particular parts of the legislation as it moves through the mill or not so good, what are they what are the specifics >> i think there are three things that people would look for. so two of them are on the payments that wind developers can get. the ccep, which gives you $150

per megawatt hour if you raise the capacity above a certain threshold and also the protection tax credit, which has been around in the u.s. for a long time but is currently due to expire and that can give you about $25 per megawatt as well those two are the payment that incentivizes the turbine builders and installers. the reason it matters not just to do with incentivizing buildout, as your previous speaker mentioned, we're also seeing inflation so this can also allow these companies to pay more for the turbine products and alleviate some of these cost pressures being seen in the industry and explains why they have a weaker stock. the third is on trans mmission. it's in the infrastructure bill. if you don't have that, it's very difficult to really materialize these projects because you diversity across multiple regions and you need to get the solar, wind, and so

forth to the demand sectors. so those are three things we'll really watching out for. >> as you said, the next two weeks could define the next decade for wind. so the ones with the most exposure include vestis and xleap and ed thanks for your time good to have you >> thank you and up next, fedex set to report reports after the bell. yes, companies are still reporting earnings the company has had its share of supply chain woes and just announced a price hike we've got the trade ahead of the results, next. plus, a reminder that cnbc's delivering alpha is back september 29th the biggest names in investing will be with us. register at delivering alpha.com. see you there on the 29th. t. - ten-x it? ten-x is the world's largest online commercial real estate exchange. you see it. you want it. you ten-x it. it's that fast. if i could, i'd ten-x everything.

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i knew that i really wanted to become a nurse. amazon helped me with training and tuition. today, i'm a medical assistant and i'm studying to become a registered nurse. in filipino: you'll always be in my heart. welcome back to "power lunch. we are watching fedex ahead of earnings out of the bell the delivery companyannouncing that it will raise average shipping prices by nearly 6% next year. its largest increase in a

decade part of a broader trend of higher transport costs fedex has underperformed ups with shares down about 10% over the past six months. let's bring in the trading nation team. delano, from supply chain to delivery, what will be top of mind >> there's a lot top of mind if you're looking at the selling price of dividend stocks since about late may, it's been kind of a downward, bearish trend a lot of things to pay attentio to, the price increase can the demand stay put and be durable to consumers on the other side i think that will stay demand will stay as we see going to third and fourth quarter. i think that demand stays. you're looking at relative strength for the stock right now. i think that's going to stay in the stock. i think there's also global tailwind that's a strong part of their

business i think that also continues so i would stay in a stock for a long-term hold here. >> gina, is this a stock you want to own ahead of the holiday shopping season? >> i agree with delano i think there's very strong demand here and the demand will accept the price hike and fedex itself has a tremendous operating leverage they've built into their company that has continued to benefit them and continued to drive margins through better asset utilization with their trucks and airplanes, better routing, et cetera. so all of those optimizations are flowing through to the bottom line. i think the thing that's a challenge for fedex, they did so well in 2020, but it's still cheap. cheaper than the broad transports than the s&p. so it seems to me that this is a long-term hold >> we'll see what the company delivers after the bell. good to see you both for more trading nation, head to our website, follow us on

twitter. back to you. >> thank you zbl after the break, it's a working lunch. jon fortt sitting down with manny medina right after this in determining your entry points with rising stocks, look to buy pullbacks at support levels such as trim line, prior lows, retracement levels or moving averages.

our drinks will be arriving very shortly >> they better be. >> welcome back, everybody businesses have relied on technology to stay productive during the pandemic and in many cases, they've had to change the way they find their clients and sell to them so will sales ever go back to normal, the way it was in this edition, jon fortt introduces us to an entrepreneur who has been doing the leg work to learn how businesses will

sell during this hybrid time >> manny medina is the cofounder of a seattle company building the sales engagement shortu startup hasn't been easy he told me about when a cofounder told me about the need to rewrite right call, but they nearly ran out of money >> i feel like a loser all my friends who came out of business school are selling their companies and making a lot of money and partying like it's 2000 and i'm trying to figure out what i'm going to do about the next two months because i can see and the team is very excited but we're almost out of cash again >> i caught up with manny recently and it's a different story. he's got 1,000 employees now using artificial intelligence to help sales people identify good leads makes a different kind of sense here sales has to be less about

handshakes, more about e-mails and zoom calls >> so you hear about ai machine learning, but did that for sales, but in such a way that was useful the ability to read sentiment in an e-mail. so now our customers can see reports around the communicatioh communication and the tenor of that communication is it positive or negative so the ability to bring the investments years ago before the pandemic hit foreseeing a world moving more in line and more digital to deliver cutting edge innovation for the customers so you have to have leaps of belief. >> he says that he sees companies now settling into a mode where people meet first virtually and then reinforce the relationships in person. i was skeptical and realized i

only met him digitally and looking forward to get together at some point and talked to dreamforce starting this week with 500 people on site. >> wow. >> normally tens of thousands and they're engaging this way so they say it's here to stay. >> he said our artificial intelligence will be able to help their customers analyze the emotional tenor of a chain of emails going well not going well why do you need a machine to do that for you doggone it i know when you're ticked off or you know when i am in an email. >> yes but think about volume here these companies are trying to send out lots of email and distinguish which leads are worth following up on. that's a booming business. you can't go to a conference and sort of like invite everybody to the dinner in the same sort of

way but you have to send out to d get the leads. he grew up in ecuador and it is so interesting there aren't that many unicorns and now it is worth $4 billion founded by latino entrepreneurs. he never sits down >> yeah, yeah true. >> i got a friend that works for him. the man never sits down. he has an old chair why never sits in it. >> i think this is the right time for him working on this for years and if you look at the different industries this is how you find customers today. do you think it stks around like or some point people go now the new way to find alpha or improve the sales process is going back to that in-person way things used to be done? >> i don't think things go back entirely i was talking to a co-founder of

team and team building software and tweaking the product to figure out when do we need this doing work at different times and then passing the work back and forth so they're making the product according to that. microsoft, we had nadella, doing something similar in teams the companies thinking this is a permanent way that work is changing we need to be used to people in different locations and maybe close clients we have never. >> i read if mark bennyhoff invented salesforce today he would make it like outreach. why does he come in and buy this company? is that an exit? >> he might. he is investing. >> in it >> and in companies like it.

and slack. he is a guy who came up with that -- worked on the team to come up with google maps and facebook after buying friend feed and working on the next generation of technologies saying much the same way, the way we write the software is changing. >> i believe it's true and still nice to sit down around the table and talk to you guys. >> this is good, too you do hear about ceos and companies of various scales really doing deals via zoom. they really are. maybe they appear in person to sign why maybe they use docusign. >> they want to get together, too. i was with tony shu in vegas. >> yesterday >> yesterday a whole different day. >> jon fortt on one working lunch after another. >> thank you. >> thank you. reality check on china's stock market we'll look under the microscope. that's next.

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when interest payments on a bond come due >> $300 billion in debt. a missed interest payment already this week to banks another anticipated missed payment coming up in a couple of days and another missed payment expected next week that is what evergrande is looking at and why the giant lost around 85% of the market value just so far in this year there are a number of reasons it matters outside of china it is a massive part of the chinese real estate industry, a huge part of the financial markets in the region, some estimates have the bonds making up over 10% of the entire asia jink bond market if it's that big a part of the market and the indexes you could see the credit market feel the pain from a default but will it create a mass hysteria probably not many analysts are out with the predictions on what happens.

a default is likely but we believe that the chinese banking sector can digest the default with no significant disruption other analysts say the systemic risk is low adding the chinese government with almost unlimited power could intervene at any time could this be a big deal yes. it was yesterday but will it become systemic like '97 or goodness forbid the great financial crisis of 2008, 2009 not likely. >> where does it go next the question for me would be what happens in hong kong and the property market there? >> what happens in the property market could be a little bit more shaky because it's a large property developer the irs is whether the default calls assets to be sold off. it doesn't seem that likely because there are still property values that are in play there and still demand for some properties so the assets themselves have value. the chinese government has to find a way to ring fence this

without seeming like they're going to back the risky behavior that led to this in the first place and same time preserve that stability for the entire market. >> not to mention the local land sales that fed into this we'll see what happens now thanks. >> you got it. >> thank you for watching "power lunch. "closing bell" starts right now. right now. thank you. welcome to "closing bell." i'm sara eisen here at new york stock exchange major averaging trying for a turn around tuesday but given up the big gains. disney especially weighing on the dow with late breaking headlines. >> we are positive as we stand i'm wilfred frost. have a look at what's driving the action the fed meeting. treasury yields a bit higher following the drop as investors await guidance the industrial sector is the beingest