the fda has only approved one prescription cbd dg to tre form of childhood epilepsy. what's the risk >> the danger is, you don't know 100% if you'r what getting is what is on the label. it might be different ingredients. >> reporter: and beware of bogus claims. we went rundercover andan into one salesman who told us that cbd is produced by the university of maryl fd, completese. >> so, this is from the university of maryland, it's probably more lright? >> exactly. their business development side and research side. there's ver strict requirements, because they're affiliated with the university and they're registered with the fda. >> reporter: the fda has warned a number of companies to stop making misleading claims about cbd, but this is uncharted srritory. that's why it i important for you to do your own research and talk to a health professional you trust if you're thinking about buying cbd. sara wallace, news 4. >> aright. beautiful weather for all those or the ns heading out big celebration tonight. you were there, you -- >> my gosh. >> what a good ti. >> itas amaz

have you seen a change in attitude towards cbd and when you first hearted?reet in places like holland and barrett, i think the conversation is changing around that. in terms of the drinks market, we are looking at a health conscious generation that do not drink alcohol is much, health drinks are on the up, so you can move into this market as well, are you looking to capitalise on that a bit more? absolutely. we see the nonalcoholic drinks market is a huge opportunity for us, that is what pa rt opportunity for us, that is what part of this range is about. the 20—something generation are drinking less alcohol for lots of different reasons, and they are demanding options that are interesting, tasty and low in sugar and don‘t contain alcohol, there is certainly an opportunity for brands like us to provide this option for us. you set this business up yourself, what was the biggest challenge? so many challengers! establishing a business, i have the greatest respect for anybody who does it, funding is always challenging, it is difficult to gain traction as a small

can of whatever, is it water with cbd, is it mixed with something? tell us what we'll be able to do with the cbd something or other if we go to a bar or convenience store. >> yeah. so first of all, most likely the products that will be produced as it relates to beverages will be nonalcoholic beverages. there may be a beer analog, there may be a champagne analog, a spirits analog there may be a water analog, a tea analog, et cetera, all containing some version of cannabis cbd, interestingly enough, is the nonpsycho active component in cannabis, which we expect to become legalized potentially as soon as shortly after this election, because there's a provision in the pharm bill that will legalize cbd, the nonpsycho active component and you'll see a lot of beverages introduced, probably non-alcoholic, i would say most cases non-alcoholic. to take advantage of at least the cbd legalization thc containing cannabis, that's going to be some time off. but i would say that the political front is developing very quickly there, and i think that in the united sta

. >> let me ask you, you are doing thc and cbd. how will you describe them when someone says i want a buzz versus someone who says i really want to get high, do you have people who know thc versus cbd >> well, here's the deal we're going to use different chams f channels for that. a cannabis store will befocuse on thc we'll sell some cbd beauty products if you're using something topical that's cbd, just like anything else that is topical, you need to be able to smell it and feel it. if it's thc, you won't be able to we have another channel that's for drugstores and retailers that we're developing right now, we're working hard with three businesses that represent 4,000 doors. we'll announce them later after we go public and we're bringing cbd personal care and beauty products to those stores we'll also develop adjacent categories and vapor pens and edibles and tincures cbd is going to be bigger than forecast >> i can't wait for you to come public that is peter horvath of green growth brands. ho is back after the break the meeting of

we talked to the pepsi cfo earlier in the we are, he was mum on plans for cannabis or cbd beverages. you think they're thinking, where are they in the process of gaming the industry out? >> constellation set the bar they came in, got their position established. now the rest of the market and beverage makers, whether alcohol or traditional coca-cola and pepsi, everyone is trying to figure it out now. constellation has a great jump on them and did so smartly early on people thought they were paying too much, hindsight is quickly showing that was smart. they're learning with real capital and real insights by being directly involved, where other players are having to learn. they're in catch up mode where we see them playing, and certainly cbd makes a lot of sense with belief the farm bill could pass that could be a legal play for them to get involved, and benefits of cbd are fantastic and how it is derived, making sure it is quality, and how it is being integrated into these delivery methods, whether it is beverage are very important to efficacy but there's so much more that we're still

coca-cola has expressed interest in cbd. the beverage guys who have shown up first to take part in what they see as a big growth opportunity. carol: you talk about fomo, fear of missing out, for the beverage companies. you talk about coca-cola. i think they shocked the world when they said we are interested in this and we are pursuing it. it set off a storm, in contrast to pepsico, who said we are not so interested. craig: a big divergence. i think you are right. coca-cola is probably the best-known brand in the entire world, arguably. it is a company from atlanta. they are not considered a risky or cutting-edge company, but they came out and said, we are looking at cbd for wellness drinks worldwide. they made a very fine point. they said, we are not looking at thc, this will not be coke to get you high. but yes, we are interested in cbd as it pertains to wellness drinks. maybe that is sports drinks, drinks targeted at the yoga crowd. jason: is this a build or a buy play? is there a sense of how the beverage companies will m

would be able to go to the convenient store and buy cbd water and cbd coffee and cbd beer, this is happening more quickly that people don't understand it is not a defensive move by constellation. their double digit growths high double digit growth in --s is what matters is cbd is going to be added to the company further than people realize. constellation is a buy >> ge is a buy this morning for investors, too we talked about the pay package for mr. culp it seems to be encouraging investors in ge. >> oh may, a 4%. >> after john flannery taken from his job >> this man is one quarter away and through his incentive package. what i think really matters here is people think that he has a plan and we don't know what the plan is. the drilling side and the surface side of oil have not increased whatsoever everyone if oils are going up. a lot of it is there are big oil companies have not been exploring and mexico is not exploring and the major nations have not been exploring. that could be next year of 2019, that would mean that baker use by the way a ge company could indeed be sold i think this span

even coke said they are looking at cbd.e also leaving the door open for medical marijuana sales in canada as well. joe: tell us about the market structure that is planned for the canadian marijuana market. can anyone open a retail outlet or will they be tightly controlled and limited in the number there can be? kristine: that will very province by province. every province has its own model. here in ontario, it is the most populous product in the company. we don't have any retail stores open when relies -- legalize asian takes effect -- legalize egalization takes effect. alberto will have several private stores and nova scotia will have several government run stores. british columbia will only have one store open in the entire province so it varies depending tohow quickly they were able get her act together and the regulations they put in place. caroline: christine oram, thank you. joe: earnings season kicking off friday with some of the biggest bank reporting's. here with what to expect is the cofounder of data and research

but we are interested in cbd as it pertains to wellness strength. it is drinks targeted at the yoga crowd. jason: is this a build or a byplay -- or a buy play? craig: i think in the initial days, it will be a buy play. the action you will see will be north of the border into canada. i think primarily by these big companies parting -- partnering with existing companies that have access to the plant they need, and have expertise in cannabis. taylor: still ahead, climate change will get worse. here is how you can bet on it. jason: the problems with cash and credit, and how tech resolve them. taylor: this is "bloomberg businessweek." ♪ ♪ jason: welcome back to "bloomberg businessweek." i'm jason kelly. taylor: and i'm taylor riggs. you can also listen to us on the radio on siriux xm, channel 119. also on a.m. 1130 in new york, 106.1 in boston, 99.1 f.m. in washington, d.c., and a.m. 960 in the bay area. jason: and in london on dab digital, and the bloomberg business app. climate change front and center this week as hurricane michael slammed into florida

recently we saw cbd oil that was approved by the fda through a clinicalf criminal -- trials. that is the process we utilize to demonstrate whether a particular substance has a necessity or ability from that standpoint, if we go down that path where cannabis is determined to have an effective reliable, and gets fda approval, but is one thing. that is different than simply taking a substance like marijuana and saying we think it is ok, therefore we will simply legalize it for medical purposes. as a defined substance versus an fda process. general, manyy things states are dealing with is election security, border security, and how that works for election laws and voting laws there. what does indiana face in november when it comes to voting laws? >> i think indiana is in great shape. we encourage satellite voting. recently we had a case we were that leftn controversy. a federal judge had stepped in. we had opposed the federal judge dictating what should happen because we believed the state statute is sufficient to provide communities with the opportunity to set their own standard

i asked about the cbd oil, stopse it is proven to seizures.hey say oh, we cannot give her that because of the federal. think cbd oil and portion of it needs to be looked at the federal level. how can they discriminate against special-needs children and not give the cbd oil, because she is placed in a state-controlled facility? i do not get this. there is no law that does not require this. isn't because they want the funding for the medicaid, for the drugs? which totally drugs are out. shewas not even, like, could not comprehend anything. so i am wondering what is happening. host: dee, thank you for your call, the less caller on this site might -- the last caller "washington journal on a segment of "washington journal -- the last caller on this segment of "washington journal" today. we will have next bridget anzano robert andrews to talk about youth voting and campaign 2018. later, we will have charlie cook to talk about races you are most interested in in this election cycle. campaign 2018 coverage, 29 at 2:00 p.m. today. we will be covering p

there is as farmville that if it passes in november will allow more cbd, this is about thc. this is about the stuff that does not put you to sleep. it is the stuff that gives you the buzz that's what it is about. the buzz and edibles and the buzz coffee and the mix drinks and bars that give you a buzz and the medical gigantic >> how long to prove out the valuations how long do the market wait until we see the real numbers and therefore dictating. >> let's say the disruption is 500 billion. you have 35 billion in market cap canada that's not that much when we speak to tilray, the only one that you can really have what's called a legitimate borrow that you can short is cano canopy all the rest of them is heavily shortage because people believe it is going to burst and prices are going to come down as soon as this thing happen, you can blow it out. we'll look at it a few weeks from now not everybody is going to make a fortune in canada. that's what certainly what happens in oregon. >> good to know. fascinating story, we'll talking kennedy in a few minutes let's get to rick sant

camera shutters click ] >>> with halloween right around the corner, there are some shops promoting cbd for your pets. it can help lower anxiety for when trick or treaters knock at their door. it's a chemical compound found in cannabis. the treats look like regular pet treats. they come in two different flavors with two different dosages. it may lower pet anxiety and calm hyperpets. it can help with joint discomfort. >> a lot of people at the doorbell puts the dog on alert and stresses them out. >> but vets are cautioning pet owners before they go out and buy cannabis treats, they warn there is no way to know the correct dosage or if the treats will react badly with other medications. >>> buyer beware. >> that's true. >> our dog is going out with us but without cbd. >>> 557. an 11th suspicious package recovered in florida. >> plus, authorities are weighing whether to bring charges against a bay area woman who shot and killed an alleged kidnapper. >> reporter: and the the justice department plans on suing tetra tech the company that they hired to clean up the former naval shipyard at hun

signed into law the legalization of cbd oil. had discussions with veterans and autistic children who make a very strong and compelling case about legalization of medical marijuana. where seen other states abuses take place that raise concerns. i am still not convinced yet. one thing i don't want to see is jails stockpiled with people who have possession of a small amount of marijuana. i would be open to talking with the legislator about is reducing the penalty of possession of two hours -- two ounces of -- two ounces or less. sheriff valdez: we agree on something. i believe in decriminalizing marijuana. i honestly believe that often we have more in common than we have differences. speaking of veterans, i have heard plenty of doctors say they thed much rather give veterans, mentally ill and others mao wanted and give them opioids, which are now illegal. you can write a prescription for opioids and therefore have more problems with the people you prescribed that too. 30 seconds for a rebuttal. we want to make sure that if it is do

coca-cola recen confirming it's exploring development of cbd benches made fromeannabis. ceo's exit marks a slrnging group of female ceos less than 25 within the s&p 50 less than 5% of the overall index. for nightly business report, i'm sarah eisen. >>> the fd a a grants breakthrough therapy snapgs to clovis's experimental extremist. where we begin the market focus. the cancer drug maker said the designation for the prostate cancer therapy was awarded based on initial data from clovis's ongoinf studye drug. the new status is intended to speed up the approval process for theat tnt. shares of clovis on college rose more than 7% to 31.39. >>> payroll. er paycheck said higher revenue in the services segments helped total sales edge past expectpaions. the c also topped earnings estimates. shares rose more than 1% to 74.78. delta said that it took a $30 million hit from hurricane florence. and its facing rising fuel costs. there is a chance that thets airlines pro for the quarter will miss expectations. separately its rival united continental gave a disappointing earningsoutloo

de las personas partidarias de llevar una vÍa favorabley hay comidas y bebidas que pueden contener cbdonvulsiones. >> quiÉn se habrÁ llevado los 1000 millones de sorteo?por lo pronto alguien volvÍ a atinarle a cinco de los seis nÚmeros. increÍble. >> al regresar, los dodgers no pudieron. ademÁs el juego siete. en mÉxico hay var y dio de qué hablar. ♪ ♪ ♪ ♪ ♪ por nissan. nathalie: arranca con la final de la liga nacional. esta noche milwaukee pensiÓn dollars y obligÓ llevar la serie al líde pesadilla para los Ángeles. se adelantaban 1-0 pero luego viene la respuesta. nos vamos a la nba. warriors visitando a utah. nueve rebotes y cinco asistencias. curry contribuyÓ con otras 31 unidades. dramÁtico cierre. 124 123. en el partido con goles de andrade, duke, juan pablo vigÓn, y gonzÁlez. los rojinegros derrotaron 4-3 a los tiburones rojos. llegaron hacÍa ocho unidades en el torneo. escuchemos al hombre que le dio el triunfo. >> me siento muy feliz. porque este torneo ha sido muy difÍcil para todos. y la verdad que fue complicado por el var. penales y gore hasta el Último minuto. estamos tod

conversation around cannabis, you saw coca-cola talk about cbd and maybe using that for wellness beveragese using that for wellness beverages. it's really a new generation of beverages. there is potential as a new ingredient that could really drive growth. vonnie: what is the new ceo literally taking over this week going to do with sodastream international? >> that's one of the biggest questions. it's always interesting when a new ceo inherits a deal that wasn't a their idea. you have to believe he was consulted on it. you have to believe he was at least nominally on board. it's going to be very interesting to see. it's a sensitive topic for them. they are kind of going around the bottlers to get products into those homes. it's definitely something investors will watch. vonnie: there's only so much under pepsi's control. they're going to have higher transportation costs. how does the ceo deal with that without crimping margins? great point. some of this is outside of his control. the positive is that it wasn't structural to their business. that doesn't make it any easier to keep the profit

>> i do think we will see more cbds with traditional companies dipping their toes into the cannabis markettellation brands started with an investment last october and then they wrote a 4 billion -- $4 billion check in august. constellation's motivation is different from their peers. they are the best in class. they are also smaller and more agile which is why they are first to market. we have seen their competitor do a drink venture with another company. we view that as a little more defensive. caroline: i know that this is new breaking news but the fact that we have a new ceo coming into constellation, what do you make of a new leadership at constellation brands? bill was the heir apparent and ceo. he joined the company as the -- growths officer officer and got promoted to coo and then-president. this is expected. romaine: so that is good. when we talk about what has been going on in the cannabis space. most of the talk is people going out and tricking cannabis drinks, smoking joints, but a lot of the market potential is in terms of medical. wise that's not getting a little more attention

was-cola said say it looking at cbd, the nonpsycho cannabis.ponent of amazon is raising its minimum the.s. and u.k. employee base. u.s. workers will get $15 an november 1.ng amazon says its public policy team will lobby for higher wage.l minimum we will have more on that ahead. and that's your business update. we'll check in on how amazon continues to perform after that announcement on its employee base. u.s., u.k., from new york, this is bloomberg. ♪ >> president trump says the sexual misconduct allegations against his supreme court nominee brett kavanaugh show it is a very scary time for young men in america. the president said men are presumed to be guilty when women accused them of sexual misconduct even if there behavior has been "exemplary." he said he's hoping kavanaugh is confirmed this week. speaking to reporters, the president said that is dependent on what the fbi finds in its investigation. a rare show of bipartisanship. republican senator jeff flake and democrat chris coons of delaware shared the stage at an event sponsored by the atlantic magazine and the national constitu

coca-cola was interested in perhaps cbd-infused drinks. we heard from pepsi this morning. they showed the beverage business had bounced back at pepsi, but did want about lower four-year court awnings -- earnings. says the new trade agreement will be good for the united states and mexico. that is coming up next. this is bloomberg. ♪ david: this is alan's of power best balance of power. balance of power. efforst=t==china's -- efforts to appease the united states are not enough. mark: as you mentioned, mr. trade deal the new with canada and mexico sends a message to china -- we are acting as one. kudlow says the deal was negotiated in consultation with democratic lawmakers. president trump says it is too early to resume trade talks with china because beijing is not ready yet. the fbi has finished interviewing mark judge. ford -- christine ford says mark judge was in the room when brett kavanaugh assaulted her in high school. a vote will be held on kavanaugh's nomination this week. the former british foreign secretary boris johnson has called on his conservative party to back

if all you are doing is using cbd and edible or vape 10, it would be great if the price went to zero.ivity, we are talking about big companies like constellation. are we going to see more consolidation amongst the cannabis companies, rather than waiting on this white knight? sean: unequivocally. the producers in canada, only 20 survive. time to band together with your friends and build a sustainable business. caroline: we will keep up with you and see how the market continues to evolve. ofk stifel -- sean stifel navy capital. moving into the market involves attracting female customers, who only make up 31% of the u.s. market. the story interested me, by our colleague, craig. 31% are women, but they are trying to market to them. romaine: it is a big market, obviously. maybe it just speaks to the idea that the way people like me and joe consumed is going to be different from the way you consume and you have to market to that. the brands include names like poison and green crack. to those appeal to you? caroline: delightful. i like a turn of phrase. this used to be wu-tang fan meets a lo

. >> we see coca-cola putting cbd into some drinks.ve 27 states where there is some form of medical. it's only amount of time before jeff sessions gets his act together. reporter: do you drink whiskey? i'm told it's the beverage of choice among millennials, along with cannabis. whiskey, no. i'm all vodka. but for the guys. budweiser said michelob ultra was popular among the guys. the beverage companies have to transform themselves. a decade, a decade and a half ago you saw pepsi diversify getting into flavored water. >> i think it's important to note a lot of the coca-cola missed out on the energy drink wave. that's why you see monster do well. so they are not going to miss out on the cannabis futures. they have been losing out to hard alcohol. >> is craft beer still popular? you have to try to get on a secret his to get the stuff. >> it seems like the stakes have been raised in the beer stakes. it seems like people are opting for pegsized products as against the kind of name brand, buds and bud lights they are tired of. >> people are

his second point, you know,pect out club was -- penthouse club was critical of the top of broadway cbd. it had such tremendous effect on reduce you go all sorts of problems, cleanliness, crime, loitering, they were huge problems 10 years ago are minimal problems now. they have taken it down from you where it was. being good citizens. commissioner richards more than anyone up here knows how to tell what a club is being a good citizen when a club is a bad citizen. we both know this commission can shut down a bad operator. in terms of coming up with metrics to measure that by, i don't believe that any numairca coefficient is going to do that. we have a hear anything six months. you are going to hear testimony that suggests that we have been a bad citizen and let things get out of control in some way. we are not arguing against that really. you will hear us say we have done -- the security measures we pro posed if they are not working they are not working. that is what you are going to hear. that is when we will cease going to 4:00 a.m. i am confident that is not going to happen. as far as

while the marijuana stocks have been frothy and too hot for this guy, the farm bill could legalize cbdl at the federal level and constellation would instantly be able to get into that business i think the stock is ridiculously cheap given that kicker now i'm speaking at constellation's president about the can thats by -- cannabis business i'll report back on monday before canada officially legalizes pot later on in the week it may be a once in a lifetime opportunity but remember most of the things that are in there are way too risky. we're trying to stay with the high end second, costco costco is one of my favorite places to shop but it's not like many of the other consumer staples names. this is a big box retail we are the terrific business model. you pay a fee to join the club and get the best deals basically, it's a subscription service. we are in a subscription economy and as i have said repeatedly joining costco is one of the few spending decisions that i regard as a total no brainer. lisa and i have been fighting about taking a big costco trip this weekend because the eagles play

player in terms of distribution of cbd which is something we all know is a huge market growing 55% melpportunities. >> karen, has a question >> not to throw cold water in your bong or anything, this deal was announced as a $325,000 deal, and the acquired stock went up over $2 billion. seems a little foflt >> no. >> >> the alignment between constellation brands and can nil is incredible. this ebu deal is very creative, but it shows they are working very hard on the research side and this is a place where the science side of this continues to outperform. let's face it. big institutions are just getting involved and if you're going play in one name, this is a name you can make an argument on valuation and on balance sheet and partnership and i'm actually not surprised to see the stock move today. >> thanks for that steve seymour on cannabis. just out the kraik e cam and gym is top the top of the hour will cold water be thrown on the hot ipo market big names like airbnb and pinterest will be eyth're explain? we're live at the nasdaq market site in times square more "faf" right after this.

parents or children who have epilepsy approached me a couple sessions ago about the possibility about cbd oil for the children. had tooved by what they say. i agree with them. had recently, i have discussions with veterans and parents of autistic children and others, who make a compelling case about legalization of medical marijuana. i have seen, however, that authorizing that, abuse is take place that raises concerns. i am not convinced yet. one thing i do not want to see is jails stockpiled with people booked for small possession of marijuana. i would want to reduce the penalty from a class b misdemeanor to a class c misdemeanor. ms. valdez: we agree on something. decriminalizing marijuana. i honestly believe that we often have more in common than we had -- differences. i have heard plenty of doctors say they would much rather give veterans, mentally ill marijuana then opioids. you can write a prescription for opioids and have more problems for the people they prescribe that to the medical marijuana. [bell] gov. abbott: we want to make ite that if this is done, will have controls on it

we've yet to fully search and fully utilize and fully research and expand on the use of nonaddictive cbd oil in the state as a treatment for those, and i want to follow the data into for me the data is not substantive enough to show merit medical marijuana is the right approach right now. i would pursue other options, but i want to follow the data. katina: so i would take that as you would veto it? not if the data project and the people of tennessee, i would consider signing the bill. mr. dean: i would sign the bill for medical marijuana. i believe you let the medical profession decide this in the federal bureaucracy will go on and on, but if the medical profession is saying about which i believe it is saying and we all hear personal experiences with cancer and illnesses this will alleviate pain that will help someone through their suffering, and the government should not stand in the way of that. i am not for legalizing recreation marijuana, and i think we need to look at decriminalizing possession for first-time offenders, but i don't want to see racial disparity. i don't want to see y

i think the fda has been more thoughtful pch look how scott gottlieb handled the approach to the cbdnd giving -- essentially a five rating to epidial ex i think the fda is looking at this not to put the companies out of business but seeing who is compliant. >> let's talk about the trade here in terms of the tobacco stocks, dan. is this really a hurdle for them or could this be a good thing in vaic vaping put at bay and the their core business. >> look at pm, phillip morrison has a 5% dividend yield, trades below the market multiple. obviously it's a sin stock so people don't want to get near it high pressure this is a cheap stock if you are look at from that standpoint if you think juul is beneficial in the near term this looks like it's bottomed a little bit. to me this lks iertioontesng. >> up next, final trades it's not what champions do. it's what champions don't do. they don't back down. they don't settle. and they don't quit... except for cable. cable? oh you can quit cable. because we are cougars and we don't quit!! unless what?!?!?! [team in unison] unless it's cable! quit ca

that's about cbd oil as opposed to the thc, the components that is a hallucinogenic in it.are those who deal with addiction and rehab who would say almost every story that comes their way about getting started in drugs involves marijuana. and when you talk to educators and experts in that field, they'll say most often the kids who are struggling and have behavior problems and learning problems, marijuana use is often among the top exacerbating factors. so do you know what will happen if you legalize it, or are we going to be creating problems? >> well, if you legalize it, then you get to regulate it, and your parents will be more open to talking to you about it. listen, i don't want to single out cheetos but potato chips aren't great for you. we sell it. cigarettes aren't good for you. we sell it. >> but those aren't gateways to worse things. >> well, who says that marijuana -- you don't think that alcohol is a getaway? >> i do believe it's a gateway. >> okay, then you solve that. everywhere. you can't go to a corner in new york city, most big cities, without a bodega that

governor abbott: parents with children who have epilepsy approached me about cbd oil. i was moved by what they had to say and i agreed with them. more recently i have had discussions with veterans as well as parents of autistic children who make a strong and compelling case about legalization of medical marijuana. i have seen other states that authorize that, abuses take place raise concerns. i am not convinced yet. i do not want to see jails stockpiled with people who have possession of small amounts of marijuana. i would be open to talking to the legislature about reducing the penalty for possession of classnces or less from a b misdemeanor to a class c misdemeanor. sheriff valdez: we agree on something. i agree on the criminalizing marijuana, and we have more in common than differences. speaking of veterans, i have heard plenty of doctors say they would rather give the veterans and the mentally ill marijuana than opioids, which are legal. you can write a prescription for opioids and have more problems with the people you prescribe that to than medical marijuana. >>

our big push in our company is cbd as opposed to putting people on opioids. a plus. steve: thank you very much for a chat about in this morning. what do you think about it? let us know friends@foxnews.com. meanwhile you saw it here live on "fox & friends" illegals, apparently, under arrest at the border. there are thousands more coming in a caravan. is there anything we can do to stop it? a border patrol agent is going to join us live. what did voters think of president trump's rally last night in montana? todd piro is out there having breakfast with friends to find out. he's behind -- he is at the grill. ♪ want to sleep and have fun ♪ time for a good time ♪ clean my truck ♪ ♪ when the moon hits your eye ♪ ♪ like a big pizza pie, ♪ that's amore. ♪ when the world seems... ♪ applebee's new neighborhood pastas. now that's eatin' good in the neighborhood. applebee's new neighborhood pastas. i think it will fit. ♪ want a performance car that actually fits your life? introducing the new 2019 ford edge st. capability meets power. in the first suv from the ford perfo

food and beverage companies, health care, they want to put cbd, the non-psychoactive component injuring's-- in drinks, what else? there is excitement in terms of the world of finance in weed stocks. jason: that has gone from the black market, stock market, now maybe the supermarket. i love this. alix: you worked on that didn't you? jason: i am feeling the writing. what is amazing is, investors have been pouring into this in anticipation. it is still federally illegal in the united states. canada these pot companies are going public. there is a clearer regulatory scheme. everyone is trying to figure out what the financial situation is. one of the most interesting things from the story is the idea of cannabis futures. one of the problems is the flowers are variable. they have to figure out different things before they are able to go forward in a big way. alix: we do not have a lng contract. it will take a while to get to pot futures. we just got a permian contract. jason: i did not know how you would bring oil in. alix: i got you. jason: so talented. anyone who is listened to a podcast hear

especially after the report coca-cola was looking into cbd conserve beverages excitement and opportunityt when consolation brands, jim cramer a huge fan of cannabis growth. you see growth there like in coffee, for instance, the big beverage players will eventually have to move where the consumer's going. >> find out more in time. >>> when we come back, stitch fix misses the street's expectations shares are getting hammered. down 30% already doing five times their 30-day average in volume we'll talk to katrina lake for an exclusive interview in a moment. >>> and shares of general electric moody's places it on watch for review of a possible downgrade. >>> we're back in a moment one-millionth order. millionth order. ♪ there goes our first big order. ♪ 44, 45, 46... how many of these did they order? ooh, that's hot. ♪ you know, we could sell these. nah. ♪ we don't bake. ♪ opportunity. what we deliver by delivering. >>> and market watcher art hogan says president trump just helped u.s. stocks clear a big hurdle tell you what it is and what it means more the market on tradingnation.cnbc.com mo

. >> coke is looking at developing cbd.nce call kicking off in 15 minutes. >>> when we come back, we'll talk about this big hack tech giants denying a report that china infiltrated their companies. we'll get details on that. riding the wave of megadeals, despite a slow q3, global m&a is at the highest since '07 and david will talk to morgan stanley vice chairman global head of m&a robert kindler dow down 185 that factory orders number best in 11 ntmohs didn't help anything "squawk on the street" is back in a minute. what am i really being charged? and is it eating into my returns? is my advisor a fiduciary? is he always a fiduciary? a good place to start is with an independent registered investment advisor. as fiduciaries, they live by a simple rule: always act in the best interests of their clients. that's why charles schwab is proud to support more independent financial advisors and their clients than anyone else. visit findyourindependentadvisor.com >> the fight we've beening somewhere -- beening somewhere china has been

remember, there will be an october 18th and we're still not ready to hit the bars hard i go for cbd.w when we're ready. >> okay. >> we'll see you on "mad" tonight, jim, 6:00 p.m. >> thank you. >> bill simon, walmart u.s. ceo and president, will weigh in dow up 212 & you start to panic... don't. because your cto says we've got allies on the outside... ...& security algorithms on the inside... ...& that way you can focus on expanding into eastern europe... ...& that makes the branch managers happy & yes, that's the branch managers happy. at&t provides edge-to-edge intelligence. it can do so much for your business, the list goes on and on. that's the power of &. & when this happens you'll know how to quickly react... because when you want to create an entirely new feeling, the difference between excellence and mastery, is all the difference in the world. introducing the all-new lexus es. a product of mastery. experience amazing at your lexus dealer. a product of mastery. whooo! want to take your next vacation to new heights? tripadvisor now lets you book over a hundred thousand tours, a

it will go to the cbd side which is more medical. we're much scratching the surface. will involve next couple years. stuart: you have a fund, you invest the money into the fund into various cannabis related industries. you spread it across the board, suppliers, growers, retailers. i guess paraphernalia people, you spread your invests across the board? >> well, few years ago, when the industry really launched, we had companies go ipo'd it started more of the growers. so a lot of companies like the canopies, aurora, they ipo'd in canada came out production side, growing capacity, how much greenhouses they were going to grow. now it evolved into last few years to get more into the medical side, dispensary side. what i'm trying to do in the fund, get away from growers, value added chain into the branding side. canadian investors is the industry really moved from canadian focused companies more towards u.s. companies. there is a lot of companies up here, but what we're starting to see really raise money in the last few weeks, last few months is more american companies, com

things worse: even though he passed medical marijuana, there was executive actions taken to outlaw cbd oil which has no thc content. as long as we continue to not let ohio have voices and treat pain patients like criminals, it is going to get worse. you're making it worse. you need to talk to the people who know about it and not just assume you can do all these things on behalf of ohioans without getting a vote on the floor are -- or by ohioans themselves. host: it sounds like an issue that has been hotly debated. guest: well there was a lot packed into their so first i want to say in response to the last point that the caller was making about executive actions and how we are to have a vote on the floor, i agree. the legislature has done more to push back on the last two years than we have in the last decades. we have overwritten the governor. we have broken a record for overrides of the governor. who we it along with and agree on policy with because legislators have kicked the can down the road for decades, giving up gradually their own authority to administrative agencies, to the gov

cbd, it's a naturally occurring element within marijuana that doesn't have the hallucinogenic propertieses. that's what they're looking at. but it's interesting even walmart is looking to get into this market. charles: something tells me the cannabis aisle will be next to potato chip aisle. [laughter] i'm just taking a wild guess. let's bring in the portfolio manager with richardson gmp. you are interested in this cannabis sector, and how does the average investor go about all of this? >> yeah. so the average investor, i think, in a lot of cases is actually taking the wrong approach. they're hearing from a friend or an uber driver about -- ashley: right. >> and they're having that fear of missing out. so they buy the name, and over the last 6-12 months it's probably the best performing name in their portfolio. so they've gotten this positive feedback loop, probably a little dislocated from fundamentals. charles: right. but if you've always said, hey, i want to get in the market, it's too late to me to get in on the grown floor of amazon but maybe not canopy, aurora, those kind of names.

there's talk they were partnering up with coca-cola to provide cbd in some of their health drinks which more pain relief for those that need it. but down before it actually lists. i don't know what this says about maybe the peak of the marijuana boom. what do you think? >> if you have speculative money, the cannabis space is going to be a massive space globally. now that it's legal in canada, you have companies like cgc that trades here on the new york exchange, they received a $4 billion investment from constellation brands and the stock made a move from the mid 30s to 60 and now is back down in the mid 30s. i think for speculative investment it's a good place to look. stuart: do you own cannabis stocks? >> we do not but will be looking to buy cgc, canopy. stuart: okay. do you own any cannabis stocks, or would you own any? >> yeah, because the company does, and stuart, i think mike hit the nail on the head. this is going to be big but you have to be patient. you can't jump in every time it gets exciting and buy the big moves up. stuart: look at that. all the stocks on the screen down.

i would rather my son be on a very small dose of thc and cbd and have the life he has now.d of the part we have played in all of this, just amazing. i want to thank all the people in the political world who have supported us and help to get the legislation through and let us hope in the coming months that people will really be benefiting from this. lovely to see. july we last saw you. things were so different. thank you for coming back. thank you your time as well. carol is at brompton cemetery for us. rather beautiful. it is indeed. it is beautiful here in brompton cemetery. some very interesting things, behind me, these gates, various symbols on the gates, the two i want to pick out, the lanterns upside down in the middle, that symbolises life being extinguished. underneath, the circle close to the bottom of the gates, the serpent eating its own tail, one of the symbols for everlasting life. if we come up, you can symbols for everlasting life. if we come up, you can see symbols for everlasting life. if we come up, you can see the pillars, arches, and underneath, the catac