all right, everybody. welcome to "power lunch." good to be with you. stocks right now are mixed. once again, the dow and s&p 500 hit record highs earlier in the is session. today, we're going to hear from someone who says a correction back to 5,000 on the s&p 500 is possible. i guess it's always possible. >> i always pay attention when barry say it is. he has a decent nose for calling these turns. at a time when we're hearing about stocks running higher, i'd like to hear his case for the opposite. we're also hearing from vice president harris today with more

details on her economic plans, specifically, how to increase domestic manufacture ing. this is one area that both candidates seem to agree. >> both candidates seem to agree, the difference is in the details of the things they are trying to do. former president trump strongly out in favor of higher and higher and tariffs as a way to bring back american jobs that have been offshore. and troubling signs from apple with regards to iphone demand. let's bring in steve ko kvach t talk about that. this is demand for the new product. >> this is for the new iphone 16. we saw just shares off a percent on this. this is coming off some note this is morning from ubs and morgan stanley pointing out that wait times are shrinking and shorter than they were a year ago. that's especially true for the pro phones. there's more expensive models. they are calling it an inc increasely concerning wait time

gap. morgan stanley estimating there's a 50% chance they cut builds based on the soft demand signals. they were focusing on the biggest markets. u.s. and china. you can see right here the gap from a year ago with the iphone 15. one caveat here is that supply is likely better this year. that's from better manufacturing around covid, several opening up in india and a bunch of other stuff going on. and we're waiting for next month. apple intelligence launching, but with some limited features. the most advanced ai features like the new version of siri, that's probably not going to happen until next year. we'll have to wait at least another month or so to see if there are any good signals that the ai launch improves for this line up. >> i'm not sure i understand understood those charts. >> what it's showing is the wait times. if you go on apple.com and try to buy a phone and it says we think it's going to ship in 15

days or whatever, those wait times are shorter than last year indicating that demand is lower. >> i see. >> so the analysts spend every day poking around these wait times as the only data we have for iphone demand until we hear apple report earnings. >> is it the suspicious in the industry that potentially one of the reasons the demand is softer is that the consumer is being more careful? >> that could be part of it. that's especially in china. we saw the stimulus yesterday. that might be helping stuff. but especially in china, there's a huge concern. >> also in the u.s., the last hour about halloween spending being down year over year. in general, there's a concern about that. >> let me throw this in the mix. none other than doordash got an upg

upgrade. since our last coverage note, we have grown more comfortable around the consumer. how could it be that apt sl uniquely -- it's a higher price. >> also, we don't know. this is just the only data we have. is it the best data, no. it's the only data we have until we hear the results from apple. we're not going to get clearer picture until the december quarter because the next earnings reports reflect a week and a half of these sales. so we'll listen for guidance. >> can i throw this out here? what are we buzzing about the past hour? >> the meta glasses. we were talking about the glss. and every time i put that head set on, that pair of glasses on and i would like to get some, i'm not using my apple device. i can't imagine apple taking kindly to this. >> julia is going to get on this soon, but that's another part of it. and also part of the beginning of the meta presentation was all about their head set and how it's cheaper and a lot more

content. >> very interesting. interesting time in this business. >> a lot of change. >> shares of meta are rising to record highs, even as apple is under pressure as the company holds that developers event we were reference ing. they are up about 2%, 62% year to date now. these launches are all about ai and spectacles, for lack of a better tropicaerm. >> a lot of big news from mark zuckerberg just out in the past hour. first up, a new lower price quest 3 head set. it's going to retail for $299 and will ship october 15th. zucker berg calling it the best mixed reality te vice today. it's $200 less than the $499 version out now. it brings some features from that higher-end version such as group fitness classes. for use by the the enterprise. the other big news of news, the

company is used by over 400 million people including 185 million people using it across messenger, facebook, whatsapp, weekly. now meta announcing that use rs can talk to meta ai and talk back to you. you can ask questions or give it commands. users can pick out a celebrity voice among a number of celebrities that meta is working with. the company is unveiling their ray ban glasses including live translation, video or set reminders just by look ing at something and talking into the glasses. then the big surprise that mark zuckerberg announced around augmented reality. meta unveiling its augmented reality prototype, which is the most advanced glasses the world has ever seen. they are not a head set. there's no wires. he said they weigh less than 100

grandmothers. you can see through them and you can also see the holographic displays projected on to them. one note about orion. they are just a prototype, which will be used internationally. no timeline when consumers can buy them. you can bet they are working to make them accessible to consume irs and we're playing around with the new meta ai glasses, which they added all these new features and the ability to turn them into sunglasses when you walk outside. >> this is where we're going to get confused. are you -- i'm going to have to call them the ray bans. it's the only way to call them. >> so these are the meta ray ban glasses. these have been out for a couple years. every couple months they introduce new features. these are getting smarter. they are smart glasses getting smarter. now you can ask questions, give

them commands, set reminders. the augmented reality glasses, they are not a head set. they are glasses. those are a prototype. we're going to be getting a demoe of those shortly and talking them with the chief product officer. they are a bit bigger and not for sale just yet. i think the question is, how eventually meta starts to merge some of the capabilities that mark zuckerberg just showed off for the new orion glasses, where you're projecting images on to the glass screen and when is and whether they are able to merge those capabilities into the lightweight ray bans, which i'm hol holding now. these are just ai smart glasses. they are not augmented reality. they look just like regular glasses. the others are bigger because there's so much computing power in them. >> the use case replaces almost air pods. you can listen to music and kind of have basic functionality. >> i have a pair of reading

fw glasses like the orion glasses. >>s that the style these days. >> julia, thanks. let's go to starbucks. fewer and fewer people seem to be going to starbucks. brian nick else continues to cross things off his to do list. kate rogers has more on where those talks stand. >> starbucks and workers united will work towards a an agreement to use towards collective bargaining. it's the first under the new ceo's tenure. the two parties exchanged letters earlier this week underscore ing their perspectiv. ny colt in responding to the union said, i deeply respect the right of partners the the to choose to be represented by a union. if they choose to be represented, i'm committed to making sure we engage

constructively and in good faith with the union and partners it represents. that's notable he reached out to the the union within the first month on the job in responding to their letter. in its initial letter to niccol, they wrote, we know many of your customers and future generations of customers have a vested interest in the outcome of negotiations and reaching a firstoundational agreement. a reminder for viewers under 500 locations have opted to unionize. so the number of stores is small, but remember, it's also been important. the store disruptions and boycotts stemmed from union actions over the last year that had a meaningful impact to sales in recent quarters. one other thing. this exchanging of letters doesn't mean niccol is at the bargaining table, but he's recognizing these. back over to you. >> what's the reception out there that he cut a deal where

he doesn't have to live or work out of seattle out of headquarters? >> i mean, with workers, i think it remains to be seen. i believe there was reporting from bloomberg saying they will still have to go to the office several days a week and he will also be in office several days a week in addition to traveling. highway he also has a satellite office in california. i'm not sure what the tone on the ground is just yet. i think the union in particular, that's not really come up as a priority for them as they work towards this foundational agreement. much more concerned with some of the things he laid out in his agenda within the first few months. one of those is getting u.s. stores better staffed, back on track and winning the morning and makeing sure people want to come in every day. that's a priority. make ing sure the union's reques are answered byewill be part of that. >> better staff is the thing i noticed most. their staff is stretched since they have all these product

lines, they have a lot of different drinks. they also have digital and drive-up and maybe not enough people to man the shop. >> you would imagine some menu streamlining under his leadership. there's so many options at starbucks. i think probably consolidating some of that so they can kind of make things more quickly and customers have few er options t choose from. >> "wall street journal" had a good story on that. i forget the total number of combinations. it was in the tens of thousands. >> social media. it's a bit of a risk, but one he probably has to take. thank you. as we head to break, let's do a quick power check. we look at the best and worst performing stocks and tell you why. on the positive side, it's vistra, a utility company based in texas. this happens to be the second

largest owner of independent nuclear plants. nuclear has been a hot topic lately. the stock has been up for 13 straight sessions, including today. you see it at 119. it's up 6.25%. on the negative side is global payments. week 2025 guidance announced today facing analyst downgrades. price target cuts will do it to you revealing signs of weakness. that's your power check. that stock down 6%. we'll be right back.

welcome back to "power lunch". the s&p 500 hit a record high again today. earlier on following its 41st record close of the year last night. don't get too comfortable. stocks are lower this session now, but our next guest is also expecting a correction to the

low 5,000 by the 4th quarter or a 10% drop from here. let's bring in barry banister. don't pop our balloons. everyone is saying it's going to look good into year end. why don't you think so? >> there's a lot of enthusiasm right now. there's no question. a number of the economic indicators, some of the conference board readings such as present conditions versus expectations of conditions. the weakness in the breadth of the payrolls, what's called a diffusion index, the jobs plentiful versus hard to get heading down meaning we have eroded some of that access supply on labor demand. and bottoming out of unit labor costs. this is going to affect upside for inflation. when you add it altogether, it's a slowing economy, particularly on the jobs side. there's a lot of optimism out

there in the market's expense. if so, we'd certainly urge caution going into the late third and fourth quarter. >> so you think we're going to have headlines about a labor slowdown, headlines about sticky wages or some sort of lingering inflationary pressures to deliver the basis points of cuts priced into the market, have i got that right? >> yeah f you look at futures, december 2025, fed funds futures, they are slight ly belw 3%. it's very hard to justify getting below 3% without a slowdown. if we don't have any slowdowns, if we continue to utilize these limited resources that we have, what you'd end up is a no landing scenario where rates and yields should not be dramatically lower. i don't have any problem with

views of the fed being more dovish in 2024. it's what people expect in 2025 that's started to be priced in and the 31% year to year gain in the s&p 500. everything just feels very frothy. >> so you say a near three generation high in the s&p 500 and the growth versus value the out performance has never been higher. and that has always press tijed a recession and a bear market. >> we look at the growth rate of growth relative to value. you take the growth index with dividends and divide it by the value index. that's just growth relative to value. then we do the growth rate. that way you can calculate how much the growth managers have walloped those in the last ten years. the compounded, by over 7%. they outperformed them by 100%

at a 7 compound annual growth rate. it's been miserable if you were a value portfolio manager for the past 10 or 12 years. however, since that financial crisis low in '09 to now, you have gotten in line with growth versus value to where you were in late '99, early 2000. i was there, you were there, not as many people were in this business 25 years ago when we were at these levels. and we know what a prolonged bull market looks like. we have had one. it lasted about as long as the one off the reagan years into 1999, 2000. and trees don't grow to the sky. when we look at valuation, we look at at the things we do. we're very pictorial. we show this market is expensive. >> the thing to me is more worrisome. i don't want a near term correction, but do you believe we're expected to see lower forward returns over another

decade or two. we have heard -- and maybe i haven't been doing it 25 years, but i heard a lot about lower returns in the future that have never yet pan ned out. do you think this time it's going to be different? >> as long as i do this, i'm almost 40 years now. it's getting a the little old and tedious. the thing i would say about it is that we're looking at about 6% returns for the 2035. we get there through various measures such as equity risk premium, which would take a long time to explain. the price earnings rash owe will drop about 18 times. the earnings will comfortably double. they have doubled every ten years for decades. there's nothing we see that would lead to another double. so double the earnings. take the multiple down. you're look ing at a 6% return r 10 years including dividends

reinvested. so price only, maybe 4. that's not going to make a lot of baby boomers and post baby boomers retirement plans whole. so investing is about to get a lot more difficult. >> if the multiple is okay because we're the best horse in the global markets and the companies are going to get more product i-thanks to ai, i don't know if i want to say expansion, but it hangs in there. >> there's no doubt that the ai, which is more evolutionary than revolutionary. it's a better way to use the data we already had on the internet. the internet was revolutionary. fiberoptics was revolutionary. and so this has been hyped up. i don't think it lends itself to the monopolies that allow the

enormous returns, both cash and earnings, in tech companies. in other words, having ai position is probably better for society than it is for a monopolist like social media meta or search alphabet. it's going to be interesting to watch this general purpose technology develop. but so far to me, it looks evolutionary. >> you're making us feel scared again. it's not halloween yet. thank you for joining us to break it down. appreciate your time. further ahead on "power lunch," taking some shots from congress over the cost of o'semi pick. our next guest also testified before congress yesterday on obesity. she has some thoughts on the weight loss space. we'll be right back in a few minutes with stock draft participant jillian michaels.

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welcome back to "power lunch". a quick check on the markets. all of them in the red. but ever so slight ly. the s&p 500 down about a fifth of a percent. the industrial is off 240 or about a half percent. the yield curve spread is widening. for that and more, let's go to rick santelli in chicago. >> yes, tyler, indeed. if you look at a spread going back to fed day on 2s to 10s, it's trading positive 23 basis points, which means it's gone from basically positive to 23 positive. that's a huge move. if we look at a 3-month chart, it's moved 73 basis points since the 3rd week in june. a very aggressive move. but it's the logic behind it that's the most important. today we had a 5-year note

auction. the auctions have been going a little better, especially with the shorter maturities. that's at the epicenter of the spread. we see short maturities dropping because the fed and members of the fed like austin goolsbee are putting up bannerswater going it continue to ease. but yet long data treasury yields are bucking that trend. there's a variety of reasons. i personally think it's debt and deficits. some may think it's the economy doing better than the fed thinks it is or shares with us. just look at today's new home sales. if you look at those, even though the number was a bit off, you look at back to back 700,000 annualized units. we haven't done that since the first couple months of 2022. yesterday the dollar index closed at a 14-month low close. very significant under 100.5. it's having an up day against

every currency today. but all those currencies outside the yen are very much at extremes. it might be a bit of a breather. it's very significant it closed under 100.5 for the weekly close to continue this cell signal in the dollar incident dex. back to you. >> i was hoping on that, if these levels, you think it's a big deal the so far or no? >> i think it is a big deal. i think there's a lot of moving parts to the dollar. i can give you good pluses and minuses, but i'm strictly coming at this from a technical perspective. >> we are seeing that reversal this afternoon. thank you. let's get to brian sullivan for a cness in nbc news update investigating an explosion at the courthouse in the city of santa maria. somebody threw a backpack at

security and there was an explosion. police have not confirmed that chain of events, but do say two people nonlife threatening injuries and one person was detained immediately following the incident. russian president vladimir putin today announcing a revised nuclear doctrine saying if a nuclear power supports another country's attack on russia, they would be considered an aggressor. however, putin did not specify whether that meant russia could respond with its own nuclear biweapons. and a secret service agent has been accused of sexually assaulting a campaign staffer for vice president kamala harris. the incident occurred on a scouting trip to wisconsin over the past week. the secret service said in a statement that it's office of professional responsibility is investigating a misconduct allegation and the agency has zero tolerance for sexual misconduct. >> they are under so much pressure as it is. thank you. still to come, fighting for the made in america mantle.

vice president harris is set to roll out a new set of industrial economic policies focused on incentivizing domestic manufacturing. it's a goal shared by both candidates, but their approaches are very dampbt. we'll compare and contrast when we come back. and two senators to help small businesses manage costs better. "power lunch" will be right back.

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welcome back. yesterday former president trump spoke during our hour about his economic policies focusing on made in america and bringing manufacturing back to the u.s. with the help of more tariffs. now vice president harris is set to unveil her own economic policies with an emphasis on made in america. same goal, but the two differ in regards how to get there. megan has more. >> that's right. harris has two goals in the speech this afternoon. the first is to flush out her world view a bit more. she'll talk about herself as a capitalist. she's not bound to any specific ideology, so distancing herself from labels she's too progressive. she will say she sees the need for government to work with

businesses. the second is to roll out a new set of proposals focused boost domestic manufacturing. we don't know what she'll propose, but i'm told to expect new policy ideas aimed at making the u.s. a global leader and a job creator in those industries. part of her focus will be on drawing a contrast with trump, who she'll criticize as a candidate for billionaires. we can see the differences in their proposals. it's really carrot versus stick here to create more manufacturing jobs. harris is talking mostly about investing in new industries and trump is talking more about using tariffs as a threat or a negotiating tactic to push more companies to produce goods in the u.s. and there is some evidence for focus on this issue maybe working. a poll out this week shows trump holds a 2-point lead with reporters voters on economic issues, put that's down from the 11-point lead in the same poll two months ago. >> thank you very much. as both political campaigns

and the majority of voters focus on the economy, one part of the economy has drawn the attention of two senators. one a democrat, one a republican. together they have introduced a bill that will help small business dots what huge companies do, specifically hedge the cost of such kmod day tys as lumber, electricity and others. here to discuss the helping small business thrive act is senator shaheen and senator cassidy of louisiana. both joining us now from capitol hill. both to see you joining us together. i'll throw a jump ball out there. how would this program work in the case of small business that buys a lot of gasoline? let's say it's a construction contractor. give me an example and either one of you can go first. >> first of all, as you point out, small businesses are critical to the economy. so what we want to do is to provide every opportunity for those small businesses to

succeed. one of the challenges is they can't hedge their costs of commodities. we did a small business field hearing in new hampshire a couple weeks ago. when i heard from those small businesses is energy costs were a huge challenge. this bill would allow small businesses under the oversight to hedge commodity costs. it gives them the kind of advantage that large businesses now have. >> in other words, senator cassidy, the small business would be able to lock in a price for a commodity for a set period of time guaranteeing that price. if the price went up, they would spend it. they would have to pay that higher price, but then magically money would appear for them. from the small business administration, you'd get a rebate because you locked in at a lower price. it wouldn't have to occur for

that. they may be paying $3.50 for jell fuel. so they are paying a little extra. ? the price of the jet fuel goes to $4, they are held harmless. they can do that because they have massive buying power. small businesses, and we're speaking businesses 500 or don't have that. so one mechanism would be a cooperative where small business were able the to come together and have the buying power as a unit that southwest has by itself. and with that, they would pay a little extra on the front end, but they would hedge in case there's a future increase. keep in mind, a significant portion of small businesses will go bankrupt within the first five years because they are operating on thin margins. we're trying to say you can make

a business plan that allows you to survive the sudden increase in the price of commodity that could not be anticipated. >> how much would this potentially cost? all of these plans, your proposal, a lot of what we have heard from both of the candidates for president, they all sound good and sound useful and they would help people, but i'm wondering at what point it matters what we're spending when we have such high debt. >> the way i laid it out, which the buying power of businesses across different industries is is kpiened shouldn't cost a heck of a lot. by the way, on the hedging, there's going to be an up side and a downside. so someone initially in the way of mostly occurs is able to buy, but they are paying extra on the upside. they pay less on the downside. i don't think we have to talk about the cost of this as being prohibitive. but if it is, senator shaheen

and i help negotiate the bill. we know how to bring something in where it's acceptable politically, but has an incredible impact in terms of the economy. >> this is a pilot program the. it's an opportunity to see how it will work and make changes that are appropriate as we see how it rolls out. >> would there be a cost to the business associated with this price lock in that they would get? in other words, is there a premium they would have to pay in order to buy a forward contract? >> no. but what they would do is pay the cost of whatever that commodity is. >> if they locked in a $3.50 cost for gasoline over the next six months, gasoline goes to $5. they still have to pay the $5 at the pump, but they would get reimbursed for that by the federal government?

>> through this cooperative purchasing that would be able to set up through the small business administration. >> what happens if they lock in the price of $3.50 and the price goes to $2.75? they pay the $2.75 and protected themselves against an upside price shock and they get the pft of the lower cost. >> there are different ways to do this. they continue to pay the $3 3507b9 and f.50 and forego the downside for protection against the upside. so we're trying to come unwith a mechanism to help small businesses thrive. now there are different ways to structure that. but when we know that the price of commodities flux waiting over the last five years has really done a number on a lot of small businesses, we're willing to do

a pilot project to see if we can come up with a system by which they can be buffered against the kind of market swings that occur in some of their inputs. >> at least for a pilot project, it seems like a reasonable thing to do. >> i would offer the comment that we know that interest rates have been a huge area for small businesses because they can't tap those markets. for many of them, fed rate cuts might be a big sell as well. senator i don't know if you want to address that, but just to play it out for us from the investor's point of view, keeping one eye on a potential government shutdown. there's a few weeks left to go in the election. should we be thinking that a shutdown is likely at this point or is that not a near term issue? >> a shutdown is not going to happen. certainly, we're going to get a continuing resolution done t today. the house is taking it up again. and i believe we have already

passed out of the appropriations committee 11 of the 12 appropriations bills. so we're positioned in the senate to be very able to negotiate with the house as the house is doing their work as well. so i'm confident that we are going to get keep the government funded. it's in everyone's interest. it's good for business. it's good for our military. it's good for our constituents at home. >> and senator cassidy, if that moves forward and there's no legislation on the election security that i know some representatives were earlier pushing for, do you feel comfortable going into what's likely to be a contested election that will still have free and fair elections and there won't be a big concern in the aftermath about election access and not having strict enough controls in place. >> you're asking me am i satisfied or comfortable that

there won't be concerns afterwards? i think whoever loses is going to have concerns. but we have processes of where they can be heard and vetted. it looks like it's going to be close. and i think the process can work. i'll say that. one more thing about the continuing resolution. it has increased funding for the secret service. we're concerned about that after two assassination attempts upon trump. louisiana has been hit by francine, but now there's another big storm coming. so there's orr things in this reauthorization of the continued authorization of the flood insurance program. there's other things in here that are important to elsewhere. >> we're going to get a briefing this afternoon. all of the senators, about election security. so we will be very well prepared when we go home to talk about what we need to do to ensure that we have free and fair elections. i'm confident in new hampshire it's not going to be an issue.

>> give us a call when you find out. we'd love to hear from you. thank you both. let's get a quick check on the stock draft standings with jillian michaels. currently in 6th place up about 9%s with her picketts of e lloiusjprg. moan shwi jn next on "power lunch." ial our advice is personalized based on your goals, whatever they may be. all that planning has paid off. looks like you can make this work. we can make this work. and the feeling of confidence that comes from our advice... i can make this work. that seems to be universal. i can make this work. i can make this work. no wonder more than 9 out of 10 clients are likely to recommend us. because advice worth listening to is advice worth talking about. ameriprise financial.

shares are falling and costing the dow nearly 100 points of its 255-point decline. we have details. what's going on, anjelica? >> that's right. amgen under pressure after reporting two phase three trials were successful, but the results were disappointing to analysts. so there were two drugs here. one for eczema and another both trials were successful, but again, analysts saying they weren't that competitive and it's not clear that they are better than what's already out there. so you're seeing that reflected in the stock today. >> thank you very much. appreciate it. quick update on our stock draft now. the mentalist is still number

one with carvana driving his portfolio up 60%. eddie george are in second and third. our next guest jillian michaels is in 6th place. she had an interesting day yesterday. she testified on nutrition and health in front of congress on the same day the ceo of norvo was pummelled over the diabetes and weight loss drugs. jillian michaels is here with us now. thank you for your time. we really appreciate it today. >> thank you so much for having me. >> this has become a big banner issue in a societal fight. what's in it, as far as you're concerned? >> honestly, just trying to get the poison the out of our food, period. end of story. selfishly, it is very difficult to try to spend all of your time avoiding heavy metals,

microplastics, food colorings, it's absurd. we can take all the agency in the world, but until there's a systemic change, it's going to be virtually impossible for americans to get healthier. we need help. >> amen. amen, sister. there's books out amen. amen, amen, sister, i say as i try -- there's books out on this now bringing attention to the issue of ultra processed foods and so forth. how does this dovetail with the rise of obesity drugs? >> okay. i'm going try to make it as quick as possible. you've got dysfunctional agriculture legislation called the farm bill. and that means that all these tax subsidy dollars are going to gmo crops like corn and soy because they're high yield. they're heavily sprayed with all kinds of chemicals and fertilizers, pesticides, herbicides, fungsides, this bounty of cheap calories goes to big food. who mess with it more to make it really addictive, to undermine your -- sorry, satiety and

inundate your environment with it. so now they're exploiting our psychological hungers, our stresses. they're surrounding us with food so willpower in that fleeting moment is gone because food is everywhere all the time. and then it's biologically addictive. they're hacking your biology and exploiting our psychology, and then big pharma is waiting on the other side to pick us up and give us obesity drugs, statins, blood pressure medication -- >> i'm with you, but would it be better not to have big farm trying to ride to the rescue? this system is what it is, we're not going to outlaw it at this point. is it some pandemic -- some break from the addiction? >> the hope that we would have a change with regard to our food system and people's habits around food and empower them to start making some simple changes, even just removing soda. i can give you a long list of

the issues with these drugs, and i have done it a ton of times. but the reality is they cost hundreds if not thousands a month. they plateau, they come with a host of very serious side effects, and everything has to be a cost benefit analysis. unless you're very ill and very advanced with things like type-two diabetes, heart disease, chronic kidney disease, i don't think you really want to be looking at stomach paralysis, pancreatitis, the potential for thyroid cancer, albeit rare, nausea, vomiting, intestinal blockage. >> there are also -- aren't there, jillian, some salutary effects, studies indicating they can be helpful in other ways. i want to make that point -- >> no. that's actually not true. >> well, i don't know that -- that that's a fact. i -- >> i have done quite a bit of homework on it. i know all the studies that you're referring to. and the reality is that we can't point to any mechanism outside of weight loss in any way

conclusively, arguably with people that have advanced chronic kidney disease. they saw it slow progression, but not reverse. in fact, if you look at what does reverse kidney disease and even prevent it, would be exercise, being the most powerful tool for prevention. get a walking pad. lose weight naturally, and you will have no risk for side effect, just as many benefits, and more. so -- >> no, i don't disagree with that one bit. let me ask you, the question i really wanted to ask you is with respect to the -- to what is being done and how our food is being grown and processed, what is the one thing if you could correct one thing in that entire complex, what would it be? would it be removing excess sugar? which i believe is an addictive substance. would it be artificial colors? what -- you mentioned a lot at the top. what would the one thing be? >> what you need to do is end citizensish night and get the --

citizens united and get the lobbyists out of washington and it becomes very simple. they do this in europe, they have a roadmap. if you look at the -- they're illustrating in real time in europe all this crap is banned. there's only 400 chemicals. we have 10,000 here. how about we follow that roadmap? low hanging fruit. >> all right. thanks so much. we appreciate it. good luck continuing in our stock draft. (man) these men of means with their silver spoons. what will become of them when they discover robinhood gold allows others to earn

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welcome back. just finishing a conversation with my friend here. with the few moments we have left in the show we wanted to get to a if you more headlines and some trades to go with them. time for three stock lunch. our trader is victoria green, contributor at cnbc, gee squared, private wealth. ford shares downgraded by morgan stanley. it cites chinese competition and tentative u.s. consumers. is there a ford in your future, victoria? >> no, it's a sell. they can't get it together. i also think it's a fundamental shift against legacy automakers from detroit. they're just losing ground. they're trying with their work to compete and do talk about their benching to byd for a cheap ev, but nobody in the u.s.

has been able to make a $30,000 ev and be profitable. for me ford has nothing beyond the f-150 and they can't rely that. for me it's a sell. i can see it hitting 970 and going lower. >> about 70 cents down from where it is now. what about kb home? it's on the decline after they missed profit forecasts with those interest rate concerns and kind of the economy's direction in general. it's down more than -- about 5% today. what do you do with that? >> i'm buying the dip. they have strong up channel support through 75. there's 50 day moving averages holding here. i could see this stock continuing to push higher, potentially in the 95 to 100 by yearen. mortgage rates coming down, 49% of buyers are first-time home buyers. they had a very jupbeat 2025 forecast. they talked about soft innocence july. -- softness in july. i will buy the dip and ride it to 100. >> and finally we've got your

doordash. shares higher on an analyst upgrade. keybank tags it overweight. a compliment, citing ongoing gains in food and grocery delivery. your trade on the dash? >> it's a hold for me. i love this stock, but it's hard to buy. it's super expensive. i own it. i want to hold it. i think they have such a diversified revenue stream. they announced a new merchant platform coming out today trying to get more and more merchants in beyond restaurants. they're looking at grocery, retail. they want to pick up the dog food and get it delivered to your door. they're a pure play in the retail delivery. and we are getting lazier and absolutely love things being delivered directly to our doorstep, via one click. doo this is a hole that's hard to buy -- hold that's hard to buy and start buying. >> don't let jillian michaels hear that. >> we're lazy. we want our processed foods delivered without having to get off the couch. bring it on. oh, my. >> it's the ying and yang of

life. you need help and then what the burger. >> we had a guest on who thinks the s&p may correct down to 5,000. you agree or disagree? quick? >> i disagree. i think it's 58, 6000. >> that was three stock lunch. >> it was a sugar-free version i think for the most part. all right. thanks for watching "power lunch." everybody. >> "closing bell" starts right now. thank you so much. welcome to "closing bell." i'm live from post nine at the new york stock exchange. this make or break hour begins with stocks over the final stretch. not just today but this year. after this remarkable bull run. we'll ask fundistrate's tom lee, the question what's going to happen when he joins us in a moment. take a look at the scorecard. 60 minutes to go with regulation, have work to do. the major averages mostly negative. nasdaq barely hanging on to the green. the dow is the biggest loser,