movement, let's look at the homebuilders. , moreg at d.r. horton than 10%, on pace for the worst day since 2014, after they said the deliveries for the first quarter of 2019 are coming in the low estimate. another sign of weakness for the housing market and for the other homebuilders as well, all of these shares are off the lows as investors factor information the housinground market slowing. let's take a look at the 10 year yield intraday on the dow, lower by one basis point, represented in green, telling us haven bonds are rallying. the 10 year yield is much higher than it has been, really pressuring the housing market. let's take a look at a longer-term chart. starting in the last month or so, we are going to see that in about one month, down 19.96%,

isebuilder d.r. horton making an emphasis on starter homes -- demand for d.r.-priced ones, remains strong, partly because inventory was tightest in that category. -- the plane maker posted its third-quarter revenue that missed evidence. they will cut over 5000 jobs in the next 12 to 18 months, and will also sell its turboprop units. and we've been speaking with representative maxine waters. she says her democratic party is going to -- under more scrutiny. finding their are other fraudulent activities. we are going to talk with him, understand what is going on. i've told the ceo that i will be happy to meet with him. we are going to correct those things in the system to the best of our ability, causing harm to our consumers. vonnie: that is representative maxine waters. you will hear more from the lawmaker throughout the day on bloomberg television. guy, where are we in europe? we are talking about the markets as we approach the close, five minutes from the european markets close. fed day is obviously a factor. ,e saw a decent rally yesterday today, a more flat

joe: a disappointing forecast from d.r. horton sent home-building stocks to their lows.in our next guest. ,dam, a rough year for housing homebuilder companies having a of theime, most nationally-collected data looking unimpressive, some of the worst in multiple years. you are fundamentally a housing bull, so what are the tailwinds that remain in place that the housing pessimists are missing? itthe way i would look at is took us a long time, a decade since the recession started, and it is just now the labor market is starting to look like it is approaching healthy. any surprise the housing market is taking a long time to turn around as well? just like people ruled out a strong labor market recovery and did not think unemployment would get this low, i think they are ruling out a recovery. i would look at the fundamentals. joe: what are those? >> home ownership is the most important. it is easy to get lost in the month-to-month fluctuations in housing permits, housing sales. those data are volatile. if you look at the deeper behavioral factors like homeownership, we are sta

we know that this is not a universal recovery, fragility for instance, of housing reflected in d.r. horton, one of the biggest losers in today's session, how much of all of this does the fed have to take into account? >> well, that is a great question, they have to take all of it into account. that it is interesting, monetary policy, trade policy are really loggerheads here. business investment is moderating because of trade policy, uncertainties around that. yes of course, we have stimulative fiscal policy we have that to lean against. how much does trade policy have inflation may or may not be transitory. how up does that slow down business investment and slow down the economy. we'll hear more about concerns about trade and tariffs. we start to hear about, a mention, a slowdown in housing? has auto peaked here? slow down in auto. certainly any slowdown we hear might be caused by italy and brussels getting along in "brexit." whether that is smooth or slow or mod did i come slowdown in china. charles: fomc won't have a press conference probably now is good news. before people wondered do w

toll brothers, lenard, d.r. horton, hovnanian not up there but also getting hit, all moving down anywhere from 2% to 6% lower right now. so we have trade, we have brexit, we have all kinds of stories here getting fast-moving developments out of the uk, where the prime minister as we told you, theresa may, said she is determined to see brexit through because the people voted for it, despite numerous resignations within her government right now. businesses and trade groups seem on board with the latest brexit deal, but the pound plummeted earlier. it's kind of found a little better footing here, but not by much. $1.27 will buy you a british pound. right now, we are looking at a very weak pound at the moment and you can see with the british banks, most of them are getting crushed at the moment. barclay's, royal bank of scotland. so the markets here in the u.s., though, like what they're seeing overseas. when you combine brexit and combine the news possibly on china, should investors kind of take this ball and run with it

is slow that you put that and make sure it doesent gorun away inflation and then take a look at d.r. horton met. revenue was a miss. rising prices and rising rates. >> it's a very responsible economy. you will see the stock down. >> home accouequity loan provid china celebrating a recent i.p.o. >> they want us to have pandabear.com merge with visa in order to issue a credit card. >> coll plant, it is a compliment that they want to access our capital markets and rule of law. >> did you just read that thing on the nasdaq company? the 3 d printing of organs and tissues. >> i went out to see hp. they are making 3 d printing of organ organs the doctors can go in and look at it prior to the cut. they can't learn to do a transport. this is a fabulous revolution. >> i learn something every day. >> what a man. they are dedicated to making it so doctors can perform better operations. no one is talking about 3 d printing. they are doing organs. it's really fabulous. >> got some action in retail. costco comps up on a two year stack. it is 122. >> we are seeing tjx, burlington doing incredibly well. koh