mastercard is in the global economy. if it happened to mastercard it canhappen to anybody in travel and leisure and retail you don't shop much when you are under quarantine or worried you are going to catch a potentiallipotentiall lethal disease i think the slowdown still isn't in these stocks. that's why i continue to recommend the heavy cash position a good example macy's they reported a good quarter better than expected but it has to address the coronavirus. all she wrote. stock reversed finished down 5.5% i have been adamant that you should avoid the travel and leisure stocks i can't dump on the crews lines anymore. that's in the never retail category restaurants and retailers, if we go into lockdown mode -- i don't need to scare with you that list again. speculative stocks have had their day this the sun the air is coming out of those balloons get out of them. oil and gas, sell. environmental issues aside you don't want energy into a slowdown when oil breaks through 50, i think it will, i think it will dawn on peopl

lang has visa, mastercard in trifecta, and we own mastercard for charitable trust, follow by joiningb where we talk about it endlessly can these names keep climbing. let's start with visa. look at this will you. this stock has been roaring and surging to a new all time high today. visa recently broke out from a bullish flag pattern, a formation, and that's where the stock consolidates after big move by trading sideways, big move, sideways, once you break out, you have a substantial move higher i don't think this one is done, right. meanwhile, visa's volley has been solid for weeks, the shake in money flow down here, measures the level of buying and selling pressure the si buying since late november and they keep doing it i want you to look at the moving average convergence, we call it the mac d line that helps technicians detect changes in the stock's trajectory before that happen. lang points out that visa gave us a mac d cross over where the black line crosses above the red, and it's one of the most reliable in the entire book. after today's move, the stock at 213, easily could see

luke: you have highlighted mastercard and united. different stories and how the stocks are reacting. mastercard, to their credit, said we are going to have nearly 10% year on year net revenue growth, which is nothing to sneeze at. what i found interesting about this was that they said, we still think we will be at the low end of our full-year guidance, if this is only a first quarter story. the fact that is not being withdrawn tells you a lot about what you need to know about what corporate america expects in terms of the longevity, or the amount of this bounce back. the chart we have here shows you , yes, 2020 fiscal year earnings estimates are down, but this is a rather mild revision to see in the first part of the year, especially compared to previous years. yield, about the 10-year right now, if you talk about which places will see a bigger economic fallout from the coronavirus, pretty much everyone has europe and germany ahead of the u.s. facing a bigger drop. what has happened since late january, when the markets have woken up

mastercard and visa.rcard did have a negative announcement the other day they are directly intertwined with what's going on in asia with the coronavirus but here is a great company and if you have a long-term perspective i think mastercard is going to be a wonderful investment. >> i see you also like micron and adobe. before those, since you started with fang, amazon to interest you and still not there yet. why aren't you jumping on to the netflix bandwagon, everybody will stay at home and buy the stock? >> you know, that's a tactical reason to buy. the reason i stay away from netflix is the continued cash burn and also, of course, the onslaught of other competitors apple i'm worried about that we'll not not see even ax the coronavirus this big 5grk suh peer cycle for the iphones and of course google and facebook have some very serious regulatory concerns about privacy of data. >> let's turn to micron and adobe. do they have direct coronavirus related business issues or they've just been thrown out becaus

>> mastercard.y has the momentum but also a very strong fundamental backdrop dr horton, a name in the housing sector that a year ago not many people believed would be in the position that it's in now. and i think you could make the same argument for lennar housing has been strong. i own home depot to your point about the beneficial impact housing is having and overall the consumer itself you see chipotle on this list. not surprised. there's been a remarkable turn around that turn around continues unfortunately that turn around has continued without me and that's my fault for doing that. >> you keep buying this one? >> i do. >> 900 bucks. >> i do. i think this is going to 1,000 i think it has the right strategy, right management team and it certainly has the momentum last thing i'll mention is let's not forget the semis, josh has done a good job talking about the semis and you're seeing a strong recovery right now. we're talking about inventory, the next cycle moving forward. there's obviously strong

hour's: our stock of the credit card processor mastercard.worst 20 day fall since 2011 on a warning of slower credit card spending because of the coronavirus. you can see it is down 8.3%. let's take a closer look. credit card processor lowered its growth forecast for 2020 fiscal year sales. all of this a sign of the coronavirus and how it is altering consumer habits. this as the virus spreads beyond china. the virus is limiting international travel, spotlighting weakness in cross-border trips but also assign the virus is impacting e-commerce. let's take a look at the broader stock context. we were taking a look at how mastercard cut its forecast. so have analysts. is doing the best, but you can see industrials and energy being hit the most. all of this will demand dropping after an airline schedule. another big announcement, how mastercard will navigate the coronavirus. today it names a new ceo. he is a company man, chief product officer. former ceo who becomes the executive chairman. he will not just have to navigate the coronavirus fallout

gave me a minute to look through the press release from mastercard here are the numbers they're giving growth in the first the quarter will be 2% to 3% lower than discussed on their january 29th, 2020 earnings call they still see net revenue growth of 9% to 10%. what's interesting they're cutting their revenue guidance 2% to 3% after 26 days. >> right i think they're taking the free pass but if you look at the international revenue number, it's $10. billion against a north american revenue of $5.8 billion. they have a 2-1 risk internationally where that's all of the effect of the headwinds that are predominantly happening. knock on wood, we get this coronavirus under control, but it depends on where you get it is directly related to your mortality outcome. in north america, it's been a lot better than it has been around the world so they're protecting that $10.9 billion international revenue. >> steve, thank you very much. mastercard and united both cutting or adjusting their guidance down in the last few minutes. >>> coming up, nyu's dean of valuation, as we call him, says don't panic

and the corporate impact come up mastercard and united airlines are the latest companies to warn thatales profits are getting hurt. ♪ manus: welcome to daybreak: europe." hedges. to hedge your the defensive positions traders have put on especially in the bond market are already being shaken to the core. the biggest one-day drop since 2016. ?hat is your hedge, and nejra nejra fish you ask yourself what caused this must don? we saw the biggest move down in global stocks, one of the biggest in 10 years. the gain in global equities for 2020 wiped out. that theabout the fact spread for the coronavirus outside china was causing concern, or did equity markets finally wake up to what the bond market was signaling, that that that the 30-year-old yield plunging? manus: i think what are the best articles is from goldman sachs saying, another 25 basis points down in terms of yield. a really bad surprise would be 35 basis points. my line of choice in the bond story this morning is one punter spend $12who million on a hedge, 1.25%. goldman's point is that there is another part of that to come to be

mastercard cutting guidance. united withdraws there.debate stage in south carolina. here is your tuesday morning price action. equities bouncing back 15. up .5%. no big move after yesterday's monster rally. yields down to 1.36 on the 10. euro-dollar 1.0 840. let's begin with the big issue. testing the faith in a v-shaped recovery. >> we will get a recovery. >> the market says it is a v-shaped. >> a v-shaped recovery and we are done. that will not be the case. >> that v-shaped can turn into a u-shape. >> the u

we've heard from mastercard on mad last night. united.ill is out now saying they're running capacity in the range of 65 to 70. but nobody can really put hard numbers on the quarter at this point. >> no. i just think -- i mean, everything i go through, they have to say well, here's what -- let's just take macy's and mastercard. macy's says we have to talk about it. we are worried about corona. they're retiring it through a fabulous run he took a company from 26 billion to 300 billion plus. he's retiring. they had those cut numbers. i think he did it at the right time, let the next fellow come in with the number cut, not that bad, but the stock does slow 2%, 3%. the fact that the stock is not down worse, the fact that the business is so great. mr. miebach has been there for a long time. should be a smooth transition. >> he ain't going anywhere. >> and then he's exec chair for a while. >> people that want to sell that stock, go ahead. i think it's dumb. >> these are just money making machines. >> oh, what a -- >> look at ten years on both of

. >> then mastercard. >> mastercard. >> a wall we've made to scroll through the dozens and dozens of properties that have already told you that and the dozens and dozens more that are going to follow the uniteds and mastercards and everything else. you have to be prepared for that. >> right i was talking to one company yesterday. they do about 680 million in revenues per year. they already took 50 million off the revenue number that's a big number. it's a tech company. it's in the supply chain so if you buy now, don't you think there's a real chance that you discount this twice, that when companies report first quarter and they look into second quarter, if this doesn't end, that you're pushing forward, this market was built 19 times forward earnings, first time since 2002 it did that based upon growth return, based upon earnings return, based upon europe returning if none that have happens this year, where should the market be >> you're presuming it doesn't end. let's presume it does end and in the quarterly calls revenues are down 50 million, whatever it is, but now we moved on, hav

i look at what mastercard had to say, which is they said, look, our cross border growth is slowing downhis is not necessarily related to china this is more of a broader view of what's going on with the environment. and that could really worry people because going into, you know, these problems with the virus, global gdp growth was not that great it was 2.9%. you know, the s&p earnings growth last year in 2019 was 1%. and so all the stock names are driven by multiple expenditure china's gdp in the fourth quarter before the virus hit was the lowest in 29 years so to your question, you know, the cross quarter trade, global trade, global gdp growth, that's the kind of stuff that i'm watching most closely because, you know, stocks are -- you know, could go down 20% to get back to fair value, and that's the stuff that concerns me right now. investors have developed some really bad habits of thinking every dip is a buying opportunity because the central banks keep stimulating and the multiples keep going higher offsetting the fact that earnings are not there >> dan, just a little further, one

again take a look at the stock now up by 6.8% also breaking news in from mastercard the chief productcurrent ceo is going to be transitioning to the role of executive chairman at that time. of course we should point out during his tenure that stock has increased more than 14 prior to assuming a role he is going to become the president of mastercard and that's going to be happening on march first. all of this comes a day after mastercard warned his revenue could take a 2 to 3% hit this quarter because of the coronavirus. some of things that concerned the markets is not only a slow down in terms of cross border and travel taking place but also cross border e-commerce. people being afraid to buy things and have it shipped here as well. you know the story well. >> his own personal story is an amazing story but what's happened at mastercard over the years is an amazing story. having said that it's a bit of a visa story but on a relative basis. there's something going on here and they did a remarkable, remarkable job. >> this is a long transition time and that will probably give -- that wil

that is mastercard, a very important company.r not i think more to the downside in the days ahead. david: gary if you do sell off, or sell some of it as robert is doing, what would you sell in this market? >> right now? i'm out. so i got nothing left to sell. david: leave it at that. see you tomorrow. liz: i'm elizabeth macdonald. this is the evening edit. the president with the first lady in india. the president filled the world's largest cricket stadium t was a crowd at full capacity, 110,000 raucous, cheering folks. the prime minister of india at the president's side too. india turned out the pageantry, a joyful, colorful welcome for the president and the first lady. this is the biggest rally of his political career as the president talked about a 3 billion-dollar deal involving american made military equipment with india and dramatic market selloff today, the market coming down nearly 1032 points. this is the worst day in 14 months. all major indices down more than

. >>> plus, mastercard, the latest company to raise the red flag about the impact of coronavirus on the consumer. we will dig into the fallout there as "power lunch" starts right now. >>> tyler, thanks. welcome to "power lunch, " everyone stocks are selling off hard for the second day in a row. we are near session lows right now with the dow down about 600 points that's a 2.4% drop for the dow for the s&p the nasdaq down 2% today but if you add up yesterday and today, all three of these averages are down about 5% in just those two sessions. take a look at some of the moves weighing on the dow. you have boeing, united health, visa down 4% we were just discussing united health a lot of different challenges there. let's go to the new york stock exchange with a run down on today's selloff. hi, bob. >> kelly, an old saying on bleet if you can't trade on the fundamentals, trade on the technicals s&p 500 the last two days this was yesterday's low, mid-morning, another drop volume picked up, trading on technicals this happened a little while ago and the cdc announcementadded to new lows for the

mastercard down 6%. add this to the story about mastercard. the ceo is stepping down next year. macy's, let's get to that, says it is seeing a slowdown in sales, albeit a slight one, as the u.s. draws fewer asian tourists. macy's stock was already down 31% year over year but for today's opening bell, it is down another near 5% at the moment. >>> what might get the tourists back? call it a vaccine. moderna is popping as it releases the first batch of its coronavirus vaccine for human use. you can see it's jumping 33% right now. this is a $24.86 stock at the moment. u.s. officials announced gilead sciences' antiviral drug is now being tested on patients. the first participant is an american who was repatriated after being quarantined on that "diamond princess" cruise ship. we are looking at gilead down 4.25%. >>> here's a name rallying with no tie to the virus. regeneron, hitting a multi-year high, after it was up graded. its eye treatment to make greater market share versus novartis. >>> we are down 721 points. the breaking news we are getting is that the first confirmed case of

we saw with mastercard i think paypal is more derisked because the multiple is much less and the stock has come in so much year and they had a crappy year last year and i think they are turning it around this year. if you are in that space that would be -- i actually own it. that's the one i have been pigging away at. but the other two are sell the just to rich on valuation. >> jim did a segment on stay home stocks. >> i have those, too >> sorry >> go ahead. i will find those, too. >> i think when you are looking at it in terms of how the consumer is going to spend money, i still think that if we get continued increase in the be in of coronavirus cases and we start to stay home more i think there will be less consumer of we were -- less consumer purchasing >> walgreen's. everybody stocking up on -- not just the masks -- the masks are for protecting your expeck forrate from going on somebody else it is not keeping you from inhaling it. >> i think amazon is a better play because i don't want to go into the store >> costco is the better place, buy in bulk. >> i was in the city trying the

. >> mastercard was a huge one as well listen, microsoft on january 29th gave guidance, and this was one of the things. first of all computing is probably 25% to 28% of their overall revenue. there you go and with that said, they're not going to be able to give guidance, which is fine in this environment. ask yourself this, though, where should the stock trade down to and we've said this for a while. we've said it since february 11th or so when they reported -- around when they reported stocks traded up to 190.50. 160 is your level. people now look at microsoft on valuations and say, wait a second, maybe 28, 29 times next year's earnings. >> and so more personal computing as guy said, 30% of their operating profit and so for a stock that also with the beneficiary of passive flows, the other thing we talk about with apple and microsoft, they make up more than 23% of the nasdaq 100 so if you're looking for just the market effect, also of what microsoft does, it changes sentiment but it also changes the technicals a little bit when you actually see and a lists if they have to down grade

johnson & johnson, coke, mastercard these were all at new highs on january 17th, 20th people say how could it be up 60% since four days ago? doesn't make sense it can if you do this. there are people throwing out $30 estimates now for the near future next three years or so, nobody had these numbers before they thought it was a fantasy. now it looks like it might be attainable that's how you get a stock up 60% when you get these kinds of numbers that become feez bable back to you. >> thank you so with stocks generally back in rally mode today, what is fuelling these gains and should you trust the rally? let's bring in david katz and joe is bes mer trust principle and senior investment strategist great to have you here so, joe, this tesla say anything to you about the market? do you say this is a sign things are getting too frothy and even though a few days ago we were talking about the sell off >> i wouldn't necessarily point to tesla specifically, but you just take a look at market valuations last year's rally, over 95% of those returns we saw in the s&p 500 came on the back of multi

consider owning the stock of mastercard. how about brandon in south carolina brandon? >> caller: hey, jim. first time caller. thoughts on waste management being a long-term hold. >> at 114 and 118 people gave up on waste management and thought the chinese aren't buying our waste but i'm a big believer in mr. fish and that stock is not going to go higher fred in florida. >> caller: fred from florida how are you doing today. >> doing well, how about you >> caller: doing well, thanks. what do you think of bed bath and beyond. >> i like the ceo and i think the stock represents an attractive speculation on the new management and new board and a new strategy look, i understand after speaking to people in miami this weekend you're eagerness to buy and it is always right but wait for a real dip so stand pat if we miss it, well will there are worse things on "mad money," i have blowback about my stand on fossil fuels but tonight i'm doubling down. hi haters. and then 102 million viewers watched the super bowl and how did streaming se

we may get more mastercards. they announced after the close yesterday for the next quarter or so numbers are coming down. mastercard is a business that handles all businesses. guess what? other businesses are going to come with that. i think that could affect things in the weeks ahead. melissa: is you a question as we move on, look at walt disney's stock here. this is a huge announcement. bob iger has been the head of this company and has done a fantastic job for a long time. he brought in disney among many other things. there is so much speculation about when he would retire, about who would replace him. forgive me for being suspicious that they put this news out after the close in the middle of a two-day massive sell off. i wonder for investors who felt good about bob iger for a long time, it is just interesting timing on making this announcement in the middle of all this other news. does anyone -- connell: remember he put off the retirement because of the fox deal. melissa: i know. connell: go ahead, gary or l

(gasps) oh, yay, a new mastercard! uh-oh. what? i was going to get my mail. okay. are... are you hoping to get it telepathically? i think you mean telekinetically. and no. i just wasn't sure of the proper protocol now that you and leonard are no longer having coitus. god, can we please just say "no longer seeing each other"? well, we could if it were true. but as you live in the same building, you see each other all the time. the variable which has changed is the coitus. okay, here's the protocol: you and i are still friends, and you stop saying "coitus." good, good. i'm glad we're still friends. really? oh, yes. it was a lot of work

mastercard one of the latest companies to warn on sales and profit forecast down visa down. american express, dow components all down industrials and energy stocks, those are again on the most exposed to the global economy, so you see exxon and 3m to the downside four year lows on yields on the tenure, and a lot of those big banks you are looking at are now in correction territory, down 10% or more from their high. thank you. >> thanks very much, bob we now have the dow jones industrial average down about 523 points at session lows let's industrial down more on this sudden sell-off our chief investment strategist. jason brady, and michael schumaker. what would you even draw attention to, the stock market today? the bond market? what's the big headline for you? >> well, both. look, what has happened over the last few days has been a pretty rapid spread of the coronavirus outside of china 2,900 cases is pretty much where china was at the end of january. in italy going from 3 to something like 300 over the course of a few days really does suggest that what was likely to be a re

. >>> mastercard told me i had requested a new credit card which i never did. this $4500 worth of charges were from somebody in texas who were using my business credit card. >> reporter: in a statement equifax said cybercrime is one of the greatest threats facing our nation today. combating this challenge from well-financed nace nation state actors that operate outside the rule of law is increasingly difficult. china is in handing over the accused hackers in the justice department admits there is little chance the four men will ever be arrested.>>> they believe china is behind many cyber attacks including the marriott hotel breach that exposed data on some 500 million global customers. >>> the number of u.s. troops with traumatic brain injuries from an iranian missile strike has jumped again. this afternoon the pentagon reported 109 service members have been treated for mild tbi. that is up from the 64 servicemembers who were diagnosed in january. 76 have since returned to duty. initially the administration said nobody was hurt. when i ran hit a u.s. airbase in

find are obstructing global pply chains and much more companies like citi co cola united airlines mastercard just to name a w. >>arereporting significant drop a spokperson with city the finanal servis giant says that they haven't seen this kind of weakening and a cade and there is this. what happens in chins far greater than in days past. 17 years ago china accound for just 4% of the global economy. now and mes up 16% local financial expert george. no chevy talk with me about what us investors should be paying close attention to let's try to putit in perspective. >>this is a very serious disease that we've had many health care or s. throughout ever since the 80'through from aids all thway zika ere's even big measles epidemic right now and what happened to the stock market it's really based on 2hings fear and greed. so we haen't had to greece after a little while ago and now we're hang the fear factor. coronavirus isnot contained yet. it's not really here in the united states in any big way, but it's causing a lot of concern d it's affecting the market the market before the coronavirus begin

cripple the global economy sent stocks tumbling for the second straight day with united airlines and mastercard warning investors earningslet fake a hit. >> i think it will be under control. >> reporter: president trump and his aides struck a different tone. >> stow far as containment is concerned, we have tightly contained this. >> reporter. >> reporter: but republicans and democrats on capitol hill who got an emergency briefing on the virus remember not buying that claim. >> bottom line is it seems to be getting worse, not better. >> reporter: their anger focused on the lack of medical supplies. >> my budget supports-- >> you're the secretary of homeland security. >> yes, sir. >> and you can't tell me if we have enough respirators. >> reporter: health and human services secretary alex azar said the agency only stockpiled 30 million face masks. despite saying americans don't need them right now, the cost of face masks has risen dramatically, and the largest u.s. manufacturer said it's fielding 100 calls a day. kris van cleave, cbs news, washington. >> reporter: this is mark phillips in italy,

mastercard cutting its revenue growth forecast.twork seeing a drop in travelers because of the spread of infections. united airlines scrapping is 2020 profit forecast. air new zealand cutting capacity or warning profits will be hit. now to former hollywood mogul harvey weinstein. he spent the night in custody in new york city. he will be held for raping one woman and sexually assaulting another. his lawyers plan to appeal. we end with a former egyptian ruler. he has died. he ruled for 30 years before being forced out of office by the arab spring uprising in 2011. he went on trial for the killing of more than a hundred 50 protesters by his security forces -- 850 protesters by his security forces. he was only found guilty of fraud. this is bloomberg. ♪ ♪ francine lacqua and tom keene on an exceptionally busy morning. i want to bring up this chart again. i think it is so important. medicine.at in this is the number of cases of the virus. this is the deaths. the slope here is the cases is beginning to flatten out log rhythmically, even

the gender equality campaign group, the 30 percent club and also the executive vice chairman of mastercard enough. definitely, and at a broad level progress has been very good and, if we continue like this, may be by 2030 we will reach but really we need to build that pipeline of women coming through to be board members. inside the companies, we only have a handful of ceos, and we are not seeing women come through, along the big business lines that would qualify them to run companies. what are the key sticking points? are they facing tougher resistance or do they facing tougher resistance or do they find it difficult because of family responsibilities?” they find it difficult because of family responsibilities? i don't think the women find it difficult. a lot of research shows that first step on the management ladder is where they falter and i wouldn't say it is then faltering, i would say it is the men get promoted faster, so we have to address that. why that's still happening? i think we have been focused very much on the boards in the last few years, and people have been looking at the

mastercard have cut the revenue targets.ed airlines has scrapped united airlines has scrapped the 2020 profit target. consumer confidence is decimated inside korea. the risk is that traveling of anxiety and logistics profitability in china has now entered europe, manifested itself in terms of the american perspective on profitability and cash flow. therein lies the point, cash flow. that decimate your profitability. i want to show you a piece of work which is what is the backstop to all of this? it is about policy reaction function from central banks. martin malone sent this through. here you go. 65% of the e.m. has now had rate cuts. seven more central banks are coming up and develop markets. you are looking at 80% of global gdp being backstopped by rate cuts at 50 basis points of fiscal easing. doesuestion for markets is a 25 basis point cut have the same veracity, bang for your buck impact? choose your word. as 2019. the conclusion from programming this morning is probably not. matt: all right, fantastic chart. thank you

because they ran a promotion that said if you use your mastercard, were going to donate a percentage of your purchases to charity. they didn't tell people the amount of money they would gifted charity was capped at a certain level and they hit that point at month three in the year, there were nine more months and they were running the promotion. it wasn't true. there was at least a debatable case of misleading consumers so most of the cases on the chamber's list fall into that category where it's at least debatable and what i say is this, if in five years the united states chamber of commerce can only find 3 class action cases that are clearly meritless,we do not have a problem of meritless cases in our system but i'm willing to meet the chamber halfway . that's one of the things i propose in the book is that we can tap down even further on meritless cases, if you're not happy with twombly and igbaugh there's other things we can do. wecan make it automatic . i'm even willing to give defendants an interlocutor appeal in a class-action case when their most in dismissal just to make ext

the likes of united airlines, mastercard. this is likely just the start of what we will see.ot the first companies to come out, but the reality is there are many firms around the globe that are not necessarily sure about the coronavirus is truly going to affect their business. it is going to affect the revenues, therefore affect their profit margins as well, and profits and earnings at large. what you're looking at is analyst profit forecasts for the asia-pacific region. we have seen profit forecasts come down. the white line is energy. that is where we have seen the largest hit. we have seen health care forecasts move to the upside. you might have expected that would be a sector to benefit from this. we wereinto the year expecting to see a recount -- rebound. now that has turned to negative territory. quite the change from just two weeks ago. haslinda: sarah ponczek in new york, good stuff. from japan, we have to japanese prime minister's of abe speaking in tokyo seen the government has put together a policy on coronavirus measures. he also said it is vital to limit the spre

mastercard annan's partners still need to complete operation work before asking for further approval,billion bank cards in circulation that the end of september, 90% of them debit cards. ♪ haidi: boeing failed to any orders for commercial planes in january, for the second month in a row no interest in its jets. it extends a strain on boeing finances since two deadly crashes grounded the 737 max cash cow in january last year. january is traditionally a slow month for playmakers, but boeing shipped just 13 pre-ordered jets last month, compared to 46 during the same period a year ago. samsung has released a new galaxy flip phone after his previous attempt had a faulty screen. it is hoping to entice consumers with the new devices. we will have special coverage of the new hampshire primary, led by david westin, starting dust at 8:00 p.m. hong kong and 7:00 p.m. new york -- starting next at 8:00 p.m. hong kong and 7:00 p.m. new york. this is bloomberg. ♪ >> from manchester, new hampshire, i am david westin. this is a special coverage of the results of the first presidential primary of 2020,

united airlines, mastercard, singapore airlines.her to give you an indication of what the earnings shift is likely going to be for this current quarter so i'm watching that and also watching treasuries as well being so close to all-time lows and also back in china, this market opens up in 90 minutes. the value of stocks being shorted in china is now at a record high. the rallies come up quite a bit. theives you an idea in market right now that the rally can continue, haidi. kong, and yvonne in hong you are tracking this shift, riding concerns of the epicenter. what's the latest that we had as we continue to watch these numbers grow from south korea, to italy, to other parts like afghanistan now? yvonne: we are hearing the concern that this burst of infections we are seeing outside of china could start another second peak in this epidemic. the who did play down the fears of calling this a global pandemic. for now, they say the cases outside of the mainland so far are relatively small and the need that these affected companies are dif

because no a lot of people are not traveling now because of course on a virus fears things such as mastercard down 7 percent 5 percent hurts the rental car company 14 percent drop marriott hotel chain 12 percent drop these are huge numbers these are just a few of them i could go on and on forever with the individual stock drops but things not looking good here as wall street is very worried about how this coronavirus is going to affect the economy and if you want to check whether a virus is the cross the world this is the virus truck from johns hopkins university in the united states which gives you i think a good picture of where the outbreak has spread to and the number of cases around the world. u.s. democratic presidential hopefuls are about to take in a debate in the state of south carolina which will hold primaries on saturday the front runner bernie sanders expecting challenges to move sides even though former vice president joe biden is ahead in polling there the other candidates michael bloomberg but you judge any club which honors with warren and tom are all hoping for an upset vict

mastercard cutting revenue expectations. even going as far as what we consume when we're out, neil. if we're less social, not going to so many bars or going to so many restaurants, anheuser-busch, bud, the stock down close to 8%. the company saying it will have the worst quarter, judging again by earnings in a decade, seeing weaker demand, not surprisingly from china. neil, some moves here, i'm with you as long as you need me. i will throw it back to you. neil: trust me, we'll need you. the bolton thing is coming in handy this week. i appreciate it. >> sure. neil: before we get to blake burman at white house, i can't to get to the selloff with the dow down 430 points. it is in correction territory, drop of 10% reached from highs a couple weeks ago. nasdaq in and out of correction territory. the next stop would be a 20% correction, which would be the definition of a bear market. a lot of times we get very close, like in december 2018 when the averages were just within a 1/10 or .2 of a point and rebounded. sometimes we slice about 20% and we come back from that. so they can be very s

mastercard does a lot of its business in china e-commerce.tay home and buy stuff, but they've seen a big impact. people are not buying anything. they have not to percent off their prediction they may january 29. they think we could see, if this continues, a significant impact over the course of the year. you saw what happened to shares, down 14% in the two days since they made that announcement. it will only continue your it for anybody that has a retail connection, as long as we do not know whether people will go shopping. alix: or anybody. that brings us to our third story. brooke sutherland joins us now. they warned yesterday and the stock continues to get hit. brooke: the problem is we just do not know. how do you price any of this in? third quarter the outlook for their windows computer software will miss because of supply chain issues. you cannot get the parts to make the devices and that implies other pc makers cannot as well and people will buy less windows software. there are all of these ramifications we do not envision going into t

vonnie: that is interesting because paypal caught its revenue forecast and as did mastercard, but now's stock is higher, at 1.5%. clearly, it's a seeing positives or benefits to this kind of events for payment companies as well. talk to us about how you plan to take more market share. you got the mcdonnell mobile apps payments and tens of thousands of subway restaurant stores in the u.s. and canada. congratulations on that. how do you capitalize on that success? pieter: what i particularly like about the quick service restaurants is that is an industry where social behavior is changing. people who go there expected to be able to monitor -- to be able to maybe monitor online or on the mobile, or in-store where they can order on screen. that really fits what we can do for them. those chains are all globally present, so to have a partner which can help them in the multi-regions is important for them. it suits us well. decided,hat we ourselves. if we say yes, let's look at that vertical, to be able to announce those names, and on the back of them, restaurants are interested as well, you n

new high for mastercard.0 in the dow, going to close up a little more than 400 points s&p 500, just shy of 3300. >>> and with the record close for the nasdaq, welcome to closing bell take a look at how we finished up the rally day on wall street. we'll start with the nasdaq composite closing at a record high thanks in part to tesla, which has just been a monster in terms of outperformance adding another where did it settle? almost 13% or so but we saw a pretty broad-based rally overall. the dow closing up 408 points. most sectors within the s&p rose everyone except for utilities today. technology the best per fomer up the.6% >> tesla closing below $900. elon musk losing a foreitune in the last 20 minutes. >> the million per hour. >> still a fantastic day for tesla. up 14%, but u it was up more than 20% we are minutes away from earnings from disney, snap, chipoltle and gilead bob iger will join us exclusively after his company's numbers hit. joining us to talk about the market, michael, ceo of destination weal

i would like to call out a few partners that were with us since inception, including mastercard and ups, for helping us generate this tremendous impact. these partnerships have made it possible to source and scale innovative projects across all three of the pillars. under pillar one, we are advancing workforce development and vocational education for women by equipping them with the skills to secure jobs in their local economies and to enhance the productivity of the work they are doing. we have launched programs like women connect, called for solutions to improve women's participation in everyday life by changing the way women and girls access technology. through this program, usaid has awarded over 2.9 billion dollars to 12 grantees working to bridge the gender divide in the countries. in pillar number two, we are empowering women to succeed as entrepreneurs. we know women-owned or women-run businesses make up a third of small to medium-sized enterprises in emerging markets, yet obstacles to growth include insufficient access to capital, mentorship and trading markets. during initiati

mastercard, microsoft, apple, they've all told us they are not going to meet those expectations for thisuarter. goldman sachs has told you there may not be growth the entire year. what happens then is there are point reduction. this forces money overseas. overseas, he doesn't have any obligations, so they have to pull themselves out of the you . markets. what you saw today was this downside. it was technical. what happens on wall street is portfolio values control the money. the risk managers watch these technical levels. when they break, they are then forced by the at risk managers to act upon that. they were forced to act upon that later in the day today which forced a much greater reaction on the downside. there is a little bit of hope. tomorrow is the last day of the month. we are going to be up against some kind of balance. i don't know than him as yet, but there will be a forced selling of the bottom market in order to rebalance. it may not be that large in comparison to what we just saw, but maybe it will at least slow the flow. >> neil: though is a measure of the s&p 500, a good

it's why we're seeing forecasts be ratcheted down from companies, from microsoft to apple to mastercard. even coca-cola saying a shortage of its natural sweetener, its product could be impacted. the white house has done little to allay the fears. i went to see what the news conference was doing between 6:00 p.m. and 7:00 p.m. news time last year and the stocks went from positive to negative. they said no one seems to be an expert on the coronavirus at this point, and we haven't seen anything like this in our investing lifetime. >> more questions than answers. alison kosik, appreciate that from wall street. back in the studio, some medically significant coronavirus developments. now there are no links to foreign travel. the cdc warned over and over, expect more cases. but if you list ton ten to the president, he has a very, very different tone. >> reporter: just in the course of the last couple minutes, you have disputed what some of your officials in your administration are working, that they said it's not spreading. >> they said it could be worse, and i said it could be worse, too. no,

i would like to call out a few of our partners with us from inception, including mastercard, visa and u.p.s. for helping us generate this tremendous impact. these partnerships have made it possible to source and scale innovative new projects across all three of the peculiars. under peculiar one, workforce development by eqiuping them with jobs to secure local economies and to enhance the productivity of the work they're doing. we've launched programs like women connect, a call for solutions to include women's participation in everyday life by meaningfully changing the way women and girls access and use technology. through this program, usaid has awarded $2.9 million to 12 grantees working to bridge the digital gender divide in our country. in pillar two, we're empowering women to succeed as entrepreneurs. we know that women-owned or women-run businesses make up a third of small to medium enterprises in emerging markets, yet some of the greatest obstacles to growth include access to capital, mentorship and trading markets. through initiative launch by this administration, such as the w

apple one of the first companies of a warning with upcoming earnings and then microsoft, mastercard andted airlines. united says their revenues to china are down to zero. markets look to post the worst two months of the year since 2009 when we were in a recession. with me now is economist linda yu and wrote "what would the great economists do?" i want your analysis on what we are seeing right now. there's some companies that are trading lower because they have indicated that they'll suffer a revenue and earnings problem because of coronavirus and lots of companies across the board down because investors say i'm out of here for a while. >> yeah. that's exactly right. so what you are seeing is a negative sentiment and see it in a couple of indicators. one of the big ones is happening to treasury yields, the cost of borrowing for the government and that intraday, a little while ago, the yield, the cost of borrowing, hit record lows in the 10-year and 30-year treasury and essentially saying that investors are thinking, hang on. could there be such a big economic impact that we might face a

. >> meanwhile, companies like apple, nike, united airlines and mastercard have raised flags over it could have on their earnings. and finally biden shows up to the debate stage just in time. is it enough to pick up momentum going into super tuesday? and join brian williams, rachel maddow, joy reid and steve kornacki at the big board for our special coverage of the primary on saturday. can i help you? yes, please. thank you. you're welcome. ♪ [indistinct conversation] can i help you? yes! we're stuck. the career skills that really matter- like teamwork, responsibility, and serving others... hey... can i help you? are the ones you learn here. welcome to mcdonald's. can i help you? vomike bloomberg has a recordgue of doing something. as mayor, he protected women's reproductive rights. expanded health coverage to 700,000 new yorkers. and decreased infant-mortality rates to historic lows. as president, he'll build on obamacare, cap medical costs, and will always protect a woman's right to choose. mike bloomberg: a record on health care nobody can argue about. mike: i'm mike bloomberg and

no surprise, credit card stocks like mastercard and visa are trading near all time highs.to point out in this same report we also saw that total household debt though it rose to 14 trillion for the first time, as a percentage of disposable income is at loss going back to 1980 >> the ability to carry the debt is higher. >> that's right. >> but debt leverage is always th next bottom finally a new move in the fight to tackle childhool stop runnin where's the under 12 crowd makes up 25% of the audience for television, and other measurable data unilever blog post citing the world health organization childhood obesity one of the most serious public health issues of the 21st century >> it's too late my 6 he-year-old twins are asking me now if they can netflix and chill. when i raise my eyebrows they mention ice cream. >>> up next, softbank's vision problems its fund, vision fund losing $2 billion and calling toin question vision fun number 2 that's coming up on "power lunch" that for over 85 years has focused on keeping confidence up when markets are down. an approach where portf

. >>> ceo of mastercard is talking about attempts by government to break up global payment system toional systems. telling the financial times that the cost of building siloed systems in a world where citizens travel globally is, quote, really stupid he sees more governments edging towards nationalizing payment systems and worries consumers could shift back towards using cash. >>> forever 21 reaching a deal to sell the retail chain to a group of buyers, including mall owners simon property group and brookfield property. the consortium will pay $81 million for the company which filed for bankruptcy in september. forever 21 will seek approval for the group as the lead or stalking horse bidders at a court-supervised auction. >> forever 21, the malls. >> yeah, i know, that's where i shopped as a teen. we'll see if it can revive itself. >> i still find comfort in going to a physical store. >> how about shopping at forever 21, do you find comfort -- >> i'm not the target audience for forever 21. >> i don't think to. >> rahel solomon, thank you. >>> coming up on the show, it's your money be

today, mastercard said a 2% to 3% hit in first quarter, because it is expecting people to spend lez money, less money and they are going to be out there shopping less and one trader said that he is going to be surprised if any company is not untouched by the coronavirus. >> thank you, alison kosik. thank you so much as the health officials are warning that the coronavirus is certainly going to become a pandemic and the u.s. needs to be better prepared for it. and moments ago health and human services secretary alex azar felt compelled to come before the cameras. >> this is seen as aggressively as how president trump is responding to the outbreak. >> secretary azar is forced to play cleanup after going before the lawmakers and acknowledging that the u.s. is as of right now not prepared. >> can you assure every single american today that if the pandemic hits our shores, that we have everything available and we have stockpiled it and we are ready to go? >> that is precisely why we need to work with congress for additional appropriations to procurement. and dr. fauchi has told you that we don

economic inclusion and i would like to call out a few partners with us from inception including mastercard and ups for helping us generate this tremendous impact. this made it possible to source and scale innovative projects across all three pillars. under pillar one we are advancing workforce development and vocational education for women by giving them the skills to secure jobs in the local economies and enhance the productivity, we launched programs like women connect, a call for solutions to improve women's participation and everyday life by changing the way women and girls access and use technology. through this program usaid has awarded $2.9 million to 12 grantees working to bridge the digital gender divide. in pillar 2 we are empowering women to succeed as entrepreneurs. we know that women owned and women run businesses make up a third of small to medium-size enterprises in emerging markets yet some of the greatest obstacles to growth include insufficient access to capital, mentorship and trading markets. and initiative launched by this administration like w dbt, the rest of the - c