oftold you we will reveal one lee cooperman's recent trades.will do that next mobile app so you can quickly check the markets? yeah, actually i'm taking one last look at my dashboard before we board. excellent. and you have thinkorswim mobile- -so i can finish analyzing the risk on this position. you two are all set. have a great flight. thanks. we'll see ya. ah, they're getting so smart. choose the app that fits your investing style. ♪ when yowhat do you see?itical issues facing our world, we see a billion more people breathing free. we see access to fresh food being the global norm, not the exception. we see homes staying cooler, without the planet getting warmer. at emerson, when issues become inspiration, focusing core strengths to create a better world isn't just a result, it's a responsibility. emerson. consider it solved. ( ♪ ) any welcome back to the "halftime report." we want to bring your attention to shares of macy's. trading near session lows on news that s&p is downgrading its debt rating to bb plus essentially putting it in the ju

lee cooperman said the same thing yesterday. >> i don't know. my point is i don't know if it's a short-term issue if the medical professionals who are studying the virus can't get you anything seam see sembling the vie us, the rest of us are just guessing in terms of the supply chain of the it's correct to do comps to sars but what's missing in that analysis is how different the global economy is since then china's weight in global gdp, the emphasis in the global economy of their consumer, purposes on china. what it represents is stark will he than 2003 is the rerating we've seen on earnings estimates for the first half of theier sufficient or is there more to come we got expansion last year without any benefit from e you have loose financial conditions supportive of above-average multiples. but at some point e will have to step up to the plate here. you don't get multiple expansion and perpendiculituity. >> you have this happening on the back side of a protracted trade war that was pretty brutal on the chinese economy as well. >> that's right.

that caught my attention i thought he and cooperman found something they agreed on there. >> yeah.y he basically said it's all marketing. but i think billionaires are an easy class to target in this election only 600 of them in the u.s. so if you anger all of them, you can still win an election. but it's interesting to hear billionaires themselves respond and then also respond so differently as they did. it really distilled this whole debate. >> robert, thank you very much robert frank. >>> technology minted its share of billionaires, the best performing sector today but it is still down nearly 10% in one week is the tech wreck over as you see it is higher today by a third of a percent possibly global recession reeno ndhe stocks lower on the other hand? that's coming up next on "power lunch. mmm... good. so i've spent my life developing technology to help the visually impaired. we are so good. we built a guide that uses ibm watson... to help the blind. it is already working in cities like tokyo. my dream is to help millions more people like me. it is already working in cities like

that's lee cooperman joining us from florida the dow is down 200. it is off the lows of the day. "the exchange" picks up that story right now. >>> thank you, scott hi, everybody, and welcome to "the exchange. i'm kelly evans, and here's what's coming up the fallout for apple. the coronavirus dealing a blow to the world's biggest company plus a plan to rein in wall street from the man who made billions from it a look at what mike bloomberg is proposing now and what it means for your money and how walmart's ceo called the stock. millenials are giving the fed a headache and struggling to become more tesla-like we have bob pisani at the new york stock exchange. bob? >> good afternoon, kelly the dow and s&p well off their lows 281 was the low for the dow jones industrial average, about six points were due to apple and it's warning on coronavirus. apple suppliers, particularly semi conductor names, taiwan semi conductor, for example, all weaker on that news. but there's a lot of money sloshing around. look at smh, the big international semi conductor etf. there's a lot of movement here

we have learned he is willing to spend 2 billionth report cooperman believes that type of money is theype of money that someone could be donald trump who will raise about $1.5 billion. so we are talking about a lot of billions here. the problem is joe biden doesn't have a lot of those billions and maybe won't. and the calls are coming in loud and clear that, you know, he should step down and let the moderate wing of the party moved to michael bloomberg to possibly defeat bernie sanders. >> neil: great to see you, my friend, very great reporting. so here is where we stand right now michael bloomberg seems to have the money to get the commercials, the rice in the polls, including one that features him leaving and that delicate rich state we call florida. not only there surging national goals as well but what to make of that blue berg threat with joe borelli, "the wall street journal," and of course the democratic strategist robert. robert, this notion that maybe we are seeing a shift in favor -- it's always premature to go in a moment and assume he has finished. we said the same about bi

c i haven't seen leon cooperman on t.v. in ages he's suddenly on t.v. crying cheers pouring down his face i'm. helpless billionaire don't take my money when there's a little image of. bill gates on t.v. saying well i paid 10000000000 in taxes but i'm not sure i'll pay a 100000000000 and suddenly they pop out of the woodwork like worms on a rainy day squawking that oh my god if you even take a penny from me all the innovation stops americans dead you must keep continue to make billions for me and only me but her rhetoric will it have traction because it's very different than bernie's rhetoric is bernie's suggesting and actually different system called socialism warren is saying hello i'm just going to attack these guys as criminals would you prefer attack pleases me because i am oh i would love to see people who break the law and face some consequences when you think well you have to see from whence they came in she's an attorney that came went to law school as a single mother and put herself through there and she is looking at it through the lens of a l

bolton and they did not go through the process when other witnesses were subpoenaed when charlie cooperman went to court they withdrew the subpoena. and now they say it has to do all the work that sets a new precedent as well and changes the relationship s between the house and senate and impeachment inquiry that the senate has to become the investigatory body. and the principles that they assert they did a process that was not fair.t that was is arbitrary and arbitrarily denied the president that would not allow witnesses and then to come here on the first night remember when we were here until 2:00 o'clock and in very belligerent terms said to the members of this body, you are on trial. it will be treachery if you do what the house manager say. that's not right. when it was their error and arbitrary they cannot project that onto this body to try to say you have to make up for their errors and if you don' don't, the fault lies here. now they also suggest that it's not going to take a long time. that they only want a few witnesses but if things are opened ups to witnesses and it will be fa

now the public argument made by his counsel was that he and doctor cooperman out of due diligence just want to court to apply and that's okay for them to come forward and testify. as soon as the court blesseska their testimony they are more than willing to comeif in. they're just going to court to get court opinion saying they can do it. and so of course we said to them if that's a reale motivation there is a court about to rule on this very issue of immunity. and very shortly thereafter the court did. that was a court judge jackson in the mcgann case and the judge said this argument aboutum absolute immunity which yes presidents have alwayss dreamed about and asserted but which has never succeeded in any court in the land, it was ridiculed in the case of harriet myers and made sure truth in the case of don mcgann where he said no we do not have kings here and the 250 years of jurors there is not a single case to put support the proposition that the president can simply say that my advisors are absolutely noon for process. and of course for every other non-impeachment contacts with the

we're seeing some of the big global industrials like caterpillar, 3m pretty modest response leon cooperman was saying the the biggest risk to the markets is the u.s. elections and this is the way a lot of the fund managers seem to think bank of america, 150, the biggest fund managers in the world. he said that, too. the 2020 election is the number one thing. we're all worried about coronavirus. these fund managers are worried about the election look at number three, coronavirus. just keep that in perspective of what some of these investment managers feel about things finally here, what's going on with the coronavirus issue it's amazing the market seems to think they're going to get it either way a good outcome, so if this is a short-term blip like many of these have been in the past and it recovers in the second half of the year, no problem. but wait a minute, if there's longer term problems, don't worry about that either because central banks are going to step in they had a big fight about this over the weekend they decided to do nothing, but made it clear they wouldn't, they seem to thin

i don't know how you get there. >> beyond caring what leon cooperman thinks of the stock market, whyuld the american people give a hoot what that guy has to say. >> i say from somebody not in bed with this presidential administration, you can't have it both ways. can't say the deficit is the biggest problem the economy faces and give the administration a plus for a massive tax cut, borrowing from the future, giving it to corporations. >> sweet. share that at a dinner party, you're not a massive employer, government leader. nobody cares. we'll leave it there. >>> harmfully misleading, you could see that stamp across twitter. we'll tell you why after this. , the lack of control over my business made me a little intense. but now quickbooks helps me get paid, manage cash flow, and run payroll. and now i'm back on top... with koala kai. (vo) save over 40 hours a month with intuit quickbooks. i'm about to capture proof of the ivory billed woodpecker. what??? no, no no no no. battery power runs out. lifetime retirement income from tiaa doesn't. guaranteed monthly income for life. nooooo! tr

thus you need a little bit of hand holding at times from the likes of a buffett or a marks or a cooperman or ours. >> the comment you made issant i want to ask you about it the idea that we felt flawless i think it was a ubs analyst that came out around the peak of the nasdaq and said that the bull case is that there isn't much of a bear case or something like that. on the same day, 80% of the s&p 500 was would have the 200 day moving average that historically has been a market ceiling. over the last five years we have had if not a correction but a pullback from the highs when you have got that kind of extreme on just by everything but that was the sentiment my opinion is that it doesn't matter whether it is coronavirus or something else, there will always be something that comes along to shake our confidence when it gets that strong yields were falling before coronavirus hit the front page and gold was already rising. do you think we are using this as an excuse the reason i ask is h1n1 was way more deadly, 17,000 deaths but it happened in '09 we were already preoccupied with a global eco

cooperman an impaxed call by united i hear things are going along. is what are they going to call it i got to stick with that 737 max. what are they going to call it do you know? >> they'll stick with that you don't think they're doing good work how to approach it and how to work with the airlines? >> i think it's the safest place on earth on earth, safest plane. i volunteered to do "mad money" on the inaugural trip. >> when you fly commercial after august will you ask what model, what the equipment is? >> i don't fly commercial. i fly first -- i ask i will not because i think it's the safest plane on earth. anyway you can't hear me through my mask. >> a number of secondary stories today as well. nike, john donahoe elevates heidi o'neill to the consumer business, running ecomm. highly placed female >> that was huge a lot of people felt he was running a boys club there. nike huge business in china, they make them in china, and this stock is just hanging in there. none of us are used to this. nike should be down big. somebody short this thing huge beca

now that public argument made by counsel was he and doctor cooperman out of due diligence just want the court to opine it's okay for them to come forward and testify as soon as the court blesses their testimony they are willing to come in they just want to court opinion to say they can do it. and so of course we said to them, that is your real motiv motive, there is a court about to rule on this very issue of absolute immunity. and very shortly there after that court did. that was the court judge jackson in the mcghan case and the judge said the argument about absolute immunity which yes, presidents have always dreamed about and asserted would never succeed in any court in the land it ripped a hole in the case of t7 and also don mcghan and they said n no. 250 years of jurisprudence not a single case to support that proposition the president can simply say that my advisors are immune from process and of course in every other non- impeachment context of a congress' power to enforce subpoena against witnesses or documents the courts have said the power to compel is coequal with the power t

. >> did you hear cooperman on "squawk" >> wow, i think he took his cue from me.pologized >> your kinds of words >> that david was doing a dogged amount of work and used the word crap >> he said holy crap >> it goes to 116 where we didn't know about this you kidding me bob iger he's not going on vacation or south sea islands that i know of >> bob iger will stand up as one of the unique ceos >> i don't agree with you he is iconic class but mr. iconic class. >> so many guys are guessing, and ladies, guessing he never seemed to be guessing, always had a focused idea what he wanted to accomplish. >> exactly >> we will get the mad dash to opening bell and lowe's and wendy's and virgin galactic. and the first american case of the coronavirus. futures back in a moment ts to h. and you should be mad your smart fridge is unnecessarily complicated. make ice. making ice. but you're not mad because you have e*trade which isn't complicated. their tools make trading quicker and simpler so you can take on the markets with confidence. don't get mad get e*trade and start trading c

pockets of euphoria, as cooperman said on "the half. half" in a moment fed minutes at 2:00. balance sheet issues high of zillow and the dem debate, michael bloomberg on his policy unveiled yesterday. keep your eyes peeled to the latest for the dow let's get to "the half" and the judge. >> thanks, carl. a rally from one of the best investors ever it's 1:00 noon and this is "the halftime report. >>> stocks bouncing back, hitting new highs. are bulls knocking on the door of euphoria? >> should you stick with the mega stock names >>> nvidia up 30% this year and its target just got raised to a new street high. the analyst who made the call joins us american ninja warrior hos

votes are going to go to mike bloomberg, they can't be sure of that and i would just point out, lee cooperman,000 to hillary clinton, you were telling her, bill clinton was there, in terms of the ability to pick winners, he gave money to marco rubio and jeb bush in 2016 so his track record in the short run ain't so good. >> jessica: it's been a bad couple weeks for joe biden, no one would deny that. in both iowa and new hampshire, one of his rallies actually -- an amazing experience, with actual voters who are going to do it, a lot of union support there, two videos, one was narrated by president obama, there were people crying in the audience, there such a palpable desire to have obama back and the spirit spirit of obama that is definitely fueling it but this dropout joe thing before any people of color have voted is so obnoxious. of his margins aren't big enough in south carolina, mike bloomberg really eating into that lead, he's going to have to think long and hard about super tuesday where right now he doesn't have the money to compete. >> melissa: the latest polls have his african-americ

a bunch of hedge fund managers, leon cooperman saying that.'s re-election victory starts this week. look at "the washington post" headline there. dueling analysis about joe biden and it has to do with the african-american voter. chris, we tabulated the african-american voter correctly called the presidential winner nailed it four out of the last seven times. watch joe scarborough on this and cnn's van january. since knit 92, watch this scroll move up, four out of seven times since 1992. now, chris, the problem here for democrats, they did not turn out in 2014. the african-american vote historically, that rate of drop was, we hadn't seen that rate of drop in a generation in 2016. watch this analysis. take a listen. >> if he loses two races, suddenly these candidates that block voters in south carolina were not looking at, that would provide joe biden the firewall, suddenly they will start looking for other options. >> we got to wake up, folks. this whole bubble thing goes on. he said s-hole nations all black people will hate him forever. that a

. >> you think they're going to become, in lee cooperman's word, hostile, any time soon do you think there will be a trough in global economies and a rebound like we're seeing shoots out of europe now? what else do you need in the foundation of the market >> one thing you haven't mentioned is the consumer. extremely resilient. we see that in the labor market. we got a strong adp reading particularly for small businesses, the strongest increase in job growth since july of 2018 that's a huge plus for smaller companies, but a good indicator of the overall economy and the central banks are a big part of it as well even if you do see inflation pick up at some point, what we heard from the fed is that they are unlikely to raise rates without letting inflation run a little bit hot for a period of time i think that's been a big tailwind for the market and a big support for an extension of the cycle. >> now you've been telling us for the last many days that you've been trimming your positions. >> yes. >> and you definely have remained more cautious than most on the desk. i want to know, now t

stay tuned for an exclusive with omega's leon cooperman he joins us for the entire hour.g, the state of stocks, 2020 elections, his new buys. that men ay.'somtswa getting warmer.t at emerson, when issues become inspira creating a better world isn't just a result, it's a responsibility. emerson. consider it solved. woi felt completely helpless.hed online. my entire career and business were in jeopardy. i called reputation defender. vo: take control of your online reputation. get your free reputation report card at reputationdefender.com. find out your online reputation today and let the experts help you repair it. woman: they were able to restore my good name. vo: visit reputationdefender.com or call 1-877-866-8555. >>> worst day of the month across the board for stocks. we are down 256. we got all-time highs on big names today, alphabet, costo, amd. but it iha ts rdo escape the apple drag "squawk alley" is back in just a few moments. their medicare options...ere people go to learn about before they're on medicare. come on in. you're turning 65 soon? yep. and you're retiri

correction as it were, do you think that some of these value plays that i believe investors like cooperman have been talking about, these left for dead energy stocks which nobody wanted to touch, is value going to be a place that you want to be as bank of america says that they are bullish on value and that macro conditions improving even with this virus which many people think is a short term hit, the global macro is better and thus value carry will be better >> so this is the argument that we saw in september. and during the period where there was a fear of a recession with the yield curve inverting and a rush toward swral value, o a while it outperformed growth in a strong way, i think that is a mistake because this is a very, very low interest rate environment as we said, this is the country that is growing versus the rest of the woshrld. and if the market is going to come back, if it comes down -- maybe corrects 5%, even 10% and it starts to recover, people will buy what is growing and energy is not growing, energy is still somewhat toxic because you get all of these investors who don

leon cooperman will join us. all coming up. stay tuned new york state is building for the future of your business. with a nation-leading $150 billion commitment to infrastructure, we're creating state of the art, 21st century transportation hubs, constructing new bridges, bringing high-speed internet to every corner of the state, and committing to low-cost clean energy. with infrastructure built for the future, the companies of tomorrow can thrive here today. see your future at esd.ny.gov. thwthat's why xfinity hasu made taking your internetself. and tv with you a breeze. really? yup. you can transfer your service online in about a minute. you can do that? yeah. and with two-hour service appointment windows, it's all on your schedule. awesome. so while moving may still come with its share of headaches... no kidding. we're doing all we can to make moving simple, easy, awesome. go to xfinity.com/moving to get started. >>> welcome back quote, this might be bad that's the cdc warning now saying they expect a wider spread in the uni

lee cooperman said bernie can't win if he calls himself a communist but he has many communists tendencies and one of them is appropriation. rich people are kulaks look at those guys. >> isn't florida a rather important state to win to get to be the next president? and it seems to me these comments on castro -- >> i thought that was important. >> i think he just lost florida is my opinion. >> he goes on to say it seems highly unlikely bernie could win the general, so what's the big deal maybe this is the dark side of momentum investing the market goes down on a knee-jerk way on a bernie rise, but the market going down makes ber bernie's rise go down. >> but the correlation has been with the virus rather than bernie sanders. >> but that's part of his point. he's suggesting maybe we should pay a little more attention to sanders' rise and thus that is an overhang on the market in ways that the virus may not be. >> you know, i don't think that anybody -- nobody i talk to believes that only the virus took the market down. >> right. >> when sanders came out of the first debate so strong and his

. >> and exactly what you are talking about, is energy one of those places to be lee cooperman made the case the other day. he says yes. others say no way. you say no way, you say, yes, right, energy is near the top of your list? >> yes, yes, i think frg right now it has attractive risk reward. >> on what time horizon would you say? this is the big question, can we get a snap back? energy has been oversold if we have confidence in growth coming back in the second half of the year. if you get the resources and the industrial and those gear towards growth rallying perhaps, but if we are making a 12-month call -- >> i think with energy i would be comfortable to make a six to 12 month call. two or three year call i wouldn't be as comfortable on that but right now i think there is an interesting opportunity oil prices basically collapsed back to recession levels of last august we were at 65. we were down to 250. now we are bouncing back up a little bit that's when i am saying. the downside is limited upside has more potential maybe you cherry pick shg about a better balance sheet but that's

>> no, i think it's part of the decline, but let's go back to what lee cooperman said. it's happening fast and a lot of that is just ooh, interest rates down that means we must sell in the futures, and so we can talk about where stocks could be, but these people go to work like they did in 2008 and that creates nothing to fear but fear itself this is an illness it will pass we have no recorded incidents of coronavirus where you get it, and then it goes away and then you get it again >> in this country >> in our country. we lack the clarity of what the chinese are doing. we should be on the phone to the chinese every day talking to them we have to figure out why the w.h.o. has really been negligent. why have they dropped the ball, and i think the answer is that they've somehow become captive to china they're a little embarrassing. >> the rhetoric has been slow to ramp up. there's no doubt >> but they used to be a very good organization, and they, i'm really ashamed of what they're doing. i think thie cdc is good. i hope the president backs off a little >> the airline con

tent there could be a valuation catalyzer here typically, markets are over sold i talked to lee cooperman before coming on the show today he spent a lot of time on the structure of the market. this is not fundamentally based. it is headline based it is the elimination of the uptick rule and you have got the downward momentum being sold i think that's a really bad thing. when you have fear gripping the market like we have today. any time somebody is fearful, public speaking anything like that, they are not going to make decisions rationally i think we have to make rational decisions right now is this let's try to hag some rational discussions. >> can i make a simple point, which is important to the fed? which is the market has cleared to the downside. there has not been disruption in the market, which is the kind of thing that would bring the fed in for sure. >> uh-huh. >> but as we have gone down, nobody is happy that it has gone down but you have to be at least somewhat -- what's the right word -- becalmed the idea that it has gone down in an orderly way without disruns i am sorry to int

don't miss an exclusive with leon cooperman today on "the half" beginning at 12:00 p.m imagine travelingclubs. now you can, with shipsticks.com! no more lugging your clubs through the airport or risk having your clubs lost or damaged by the airlines. sending your own clubs ahead with shipsticks.com makes it fast & easy to get to your golf destination. with just a few clicks or a phone call, we'll pick up and deliver your clubs on-time, guaranteed, for as low as $39.99. shipsticks.com saves you time and money. make it simple. make it ship sticks. >>> welcome back i'm dominic chu. the sectors leading to the downside, the energy sector, the worst performer so far today, and as we take a closer look at some of the worst performers in that sector so far, we've got the list of usual suspects, the names that have been badly beaten up over the recent weeks and months, baker hughes, also schlumberger and noble energy as well not only are those names trading lower today but they're all down by a whopping 17% or more so far this year, and that's another down day for oil prices as well, snapping a f

attractive even if it's worked as a hedge in the past >> we're at that point i think it was leon cooperman on your show that said buying fixed income is stepping in front of a steam roller to pick up a dime now, he said that months ago in the appreciation of those bonds have been arguably better than the stock market that being said, for new fixed income, you need to keep your duration super short here. >> what about gold at the moment but a slip quite significantly in the last couple of sessions >> i think gold is an important component of a portfolio here. it serves as a hedge in times of adversity. i do think that with the dollar's weakness of late and rates remaining as low as they are, the cost of carrying gold is a good insurance policy i wouldn't go more than 5% in a diversified portfolio, but gold and other hedges like treasury inflation protection securities is what we're counseling clients to do. >> jason, would you make your message different based on the age of your clients? for instance, is there different tactics to do right now if your client is young and has a much longer t

. >> i was going to say your district may not want that if you heard earlier this week lee coopermanernie sanders is a bigger threat to the stock market right now than the coronavirus. do you think that? >> what i think is ultimately since i believe bloomberg is going to be the nominee, we're going to be fine i think that the key is, and becky what i think is important is that in the end, at the end of the day we need somebody who can unite us, who doesn't play class warfare, who brings not just the party together but the country together and who can work with democrats, republicans and independents >> bernie bros will come out and sister, whatever they are, bernie supporter also cos will , not sit on election day. the billionaire is the nominee of the democratic party. >> i don't buy that. i think everyone will come out >> for bloomberg >> i think people will come together for the democratic nominee. >> let me flip it around, congressman. congressman, if, in fact bernie sanders is the nominee, do you think that mayor bloomberg will continue to fund the democratic party at the levels

brian: here is what leon cooperman said he is a billionaire like stuart and charles.n there? oh yeah, he has no chance. you can't come back from a fifth place finish in iowa or new hampshire, can you? i don't see how you can. >> after the last election cycle i will never say never. but it's a fractured. there is no good clear candidate on the democratic side. you have got to wonder like who put these pieces together? who was the mastermind behind this? you know buttigieg is raising a lot of money from silicon valley. i'm not sure how much he is getting from wall street. if you listen to the policies and you are on wall street, yo, you don't really want to put a lot of money to any of these candidates. they are telling you they are going to attack your wealth. wall street loves donald trump. any time there is good news. [applause] >> for trump, the market goes up. after the iowa disaster, the market rallies in that state. after the new hampshire vote, the market rallies in that state. the market wants president trump in office. steve: right. bernie sanders, jackie, tri

the wealthy complain about say in this case sanders, it's not a good look, just as warren used lee coopermann our air to her advantage. >> oh, my. geez, it was awful >> from that day on she did nothing but go down in the polls. >> that was her high water mark. >> maybe no connection at all? >> no, no, i think that was a screed, the attack on someone giving a lot of money away didn't resonate. >> that was a moment i don't know if it mattered or not, maybe when they unveiled her health care plan >> she sold mugs to hold billionaire tears on her website. >> today the ftc is against all the faang stocks she was early on anti-faang. >> those are wert a lot if you ask get that >> steyer was at goldman with me he's a billionaire what does he get, how much did he get, 3% >> what he did get in new hampshire? >> really? double what i thought i'd get. >> prepared to talk more about politil in south carolina. >>> worries about the coronavirus outbreak continue to ease, china reports its lowest number of new cases since january 31st the death toll has risen to over 1,100 people oil opec lowers its 2020 d