silicon valley is less about silicone these days and more just a few days ago san francisco based igm biosciences launched a successful ipo raising $125 million. the company is developing anti-bodies to treat blood cancers. biotech is not my area of expertise. fortunately, i have three other chairs at this desk and can invite people who are much smarter than i am to talk about the industry. this morning i would like to specifically talk with genomic research and crisper, this is a way of editing genes. i would like to talk most beabout the positive side of it what it will allow us to do and the lives it will save. you are looking inside the labs of biosciences, created by trevor martin, he is joined by kristen brown of bloomberg and aaron brown ofst business insider. thank you for joining us. let's keep this simple sequencing is the e reading a document and crisper is the equivalent of word processing. is that a good place to start. >> it is a good place to start. crisper is a tool for programming biology. when you think about dna and rna, the code of life, actually inside of us, plants, animals,

igm biosciences, we talked about that before the bell on yesterday. shares rose more than 50%. they're working on antibody therapy to fight cancers of the blood. another successful bay area ipo. federal open markets committee cut interest rates a quarter point. it's concerned about rough seas ahead, increasing the money supply helps keep the economy hot. not enough for president trump who tweeted jay powell and the federal reserve fail again. no guts, no sense, no vision. a terrible communicator. donald trump wants zero percent interest, which is not going to happen. the government can already borrow at historically very low rates and fiscal conservatives would argue it's already too easy to argue. one of the reasons the fed is cutting is the trade war can hurt our economy. >>> other news, facebook's mark zuckerberg will be in washington trying to strengthen some relationships there as the federal agencies in congress pursue antitrust investigations, not just against facebook but all the big silicon valley companies. this man, a former american airlines mechanic has been -- tha

city growers, nonprofit, introducing farm based learning in urban environments at the nasdaq, igm biosciences treatment of cancer patients. we'll look to fdx to show us what the market believes about trade now. >> people will say, watch u.p.s. do people believe it is fedex execution, which means you buy u.p.s. or people believe that fred smith has got the ceo has a good read on the economy, which you would sell u.p.s though the domestic -- the domestic individual, the domestic consumer market is just on fire. because of all of the different -- everyone doing e-commerce they had to add dollar general depots u.p.s. down 3, interesting market has spoken. >> can you blame them when fedex has a quarter like it did? fedex down 11.5. >> the quarter was a suboptimal quarter. >> it was. >> the stock is back to levels that it hasn't seen since 2016 >> business is not that -- you often talked about the plane issue, holy cow. they got to retire the giant fleets >> airplane, right, or actual -- airline as opposed to -- >> airline of very easy to handle customers they don't want anything they don't want so