meg terrell has the details. >> it may sound like a throwback to the 1960s, but there's real researchoking at the therapeutic effects of magic mushrooms, or their key ingredient called psilocybin ron griffith explained its effects. under sported conditions, psilocybin can occasion mist l-type experiences clinical trials are under, but it's not straightforward to do this type of research as psilocybin is not a legal drug it's a schedule i alongside heroin, lsd and marijuana, characterized as drugs with no medical use and a highly potential for abuse. just as there's a push to change that for cannabis, there is movement behind psilocybin as well the first cannabis-approved drugs was approved by the fda last year for childhood lep acceptsy former fda commissioner told me while there's a proper way to develop some of these things, some of the hype is outpacing the science we have right now. >> thank you, meg terrell. for more on the business behind science, we're joined by ronan levy, also the cofounder of canvas ls, which he sold to aurora cannabis. ronan, great to have you with us >> th

meg terrell is covering the opioid settlements for us in ohio phil, we'll go ahead and start with you today >> courtney, a lot of analyst downgrades i know mike will be talking about that in just a little bit. but here's where things stand with boeing today. the board is meeting in san antonio, texas day two of a meeting not sure if we're going to get any announcements at the end of the day. meanwhile, over the weekend, there was a release from a congressional committee of a 2016 boeing employee survey, where a sizable number of those who were surveyed said they felt pressure in terms of moving the certification process forward, when it comes to the 737 max, which gets right to the heart of the questions about the culture of safety or whether safety is emphasized at boeing and finally, the big question today, will the return of the max be delayed just for a point of reference, boeing is maintaining its guidance that it expects to have a return to service, at least one regulator signing off on it being safe to fly, but the fourth quarter but the three u.s. airlines that fly the max,the

meg terrell's got the details. >> hi, wilf. of course, johnson & johnson stock has been halted.pany contracting with an outside laboratory to test its baby powder. remember, on october 18th, the fda said it had found trace amounts of asbestos in one bottle of johnson's baby powder. and the company initially voluntarily recalled that lot from the market. now, j&j is saying that 15 new tests from that same bottle of baby powder previously tested by the fda finds no asbestos. and the company saying over 60 new tests of the recalled lot conducted by two third party laboratories also found no asbestos so they're saying that the test results could have been possible due to lab contamination the fda when it put out its release said they didn't believe there was any sign of cross contamination. this affected johnson & johnson's stock quite a bit, more than $20 billion in market value. we'll see when its stock reopens, what it does today. but they're saying two independent laboratories saying no asbestos found in that single bottle of baby powder flagged by the fda. back to you. >> the s

details on that breaking news on teva pharmaceuticals' possible global settlement let's bring in meg terrellg? >> hey, melissa. well, we saw teva's stock jump quite a bit on the news that it had reached this framework for a potential global settlement. it reached that settlement with four state attorneys general, which are leading the negotiations and implied that it might stretch to all of the litigation, including with cities and counties. while we checked with the co-lead plaintiffs representing the cities and counties, zmethey say, no, they're not onboard with this. they say, it appears to be the same proposal that 17 municipalities rejected on friday and we don't see that changing you are seeing teva stock come back a little bit from the 13 to 14% it had been up earlier, as this might not actually be the end of the road for teva as part of this global framework, they say they've offered to supply drugs to treat addiction, up to $23 billion worth over ten years as well as up to $250 million in cash but guys, we are hearing that is not a done deal just yet for teva back over to you >> all

drug companies reached settlements to avoid the first federal trial dealing with this crisis our meg terrellis morning and instead she has news of the settlement for us. meg? >> talk about a 11th reprieve. in the minutes before scheduled to start this morning, we got news a settlement is reached to avoid the first trial in the federal opioid litigation and doesn't take care of the thousands of cases out there but the three major drug distributors have reached a settlement to pay $215 million in cash to 2 ohio counties that were the plaintiffs in this trial. teva left as a defendant in the trial has agreed to pay $20 million in increments of $5 million over the next 18 or so months additional teva contributing anti-addicting medicines on top of settlements with the drug makers named in the trial. altogether $300 million for 2 counties reached here. we got to hear after the ten minutes in the courthouse this morning from the cuyahoga county executive and others explaining why the settlement made sense and why the talks on friday about a big erger, broader settlement didn't make sense. >> peopl

meg terrell on an important story. >>> as we go to break, a look at the markets.days where the overall indices are frozen in place around 3012 on the s&p "squawk on the street" is back in a moment. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ that could allow hackers devices into your home.ys and like all doors, they're safer when locked. that's why you need xfinity xfi. with the xfi gateway, devices connected to your homes wifi are protected. which helps keep people outside from accessing your passwords, credit cards and cameras. and people inside from accidentally visiting sites that aren't secure. and if someone trys we'll let you know. xfi advanced security. if it's connected, it's protected. call, click, or visit a store today. >>> "vanity fair" is hosting its sixth annual new establishment summit in beverly hills, california julia is live there from the event and has a special guest for us as well. >> thanks so much, david i'm joined now by david zaslav, ceo of discovery >> hi. >> thanks for joining us here at the "vanity fair" summit you are about to go on stage with martha stewart a

we've got 12 minutes left the nasdaq biotech etf is on pace for its fourth straight positive day meg terrellleading it higher. >> biotech is helping offset moves lower in the roeest of health care today. the biotech etf is most influenced by larger names and those are indeed pulling it higher today among the bigger movers, revance therapeutics they announced a new ceo, mark foley, to replace dan brown, who the company said stepped down due to a misjudgment in handling an employee matter guys, back over to you we're also watching financials headline net income will be flat to down year over year net interest income should be roughly flat, as loan growth picks up, especially thanks to mortgage refinancing activity. credit risks are expected to continue to be benign, while in fee income area, capital markets should grow year over year, thanks to easy comparisons and wealth management should be okay, given the markets held their ground during the quarter itself the setup for the stock price is not that easy. banks did underperform the s&p in the first months of the quarterly, largely due to fall

meg terrell has the details. >> these were highly anticipated clinical trial data out of a cancer researchng in and mirati stock is higher on these results. people were especially looking for how this drug did in nonsmall cell lung cancer. in that, they are talking about just six patients that they have so far in this trial and three of those six showed what's known as a partial response. not going to go into the details of that, except to say that is similar to the data we've seen so far from a competing drug from amgen, and that is generally the benchmark that investors were looking for here in order to consider that a positive result from mirati. and the stock is up about 18% there. additionally, some initial responses i'm getting from folks on the street now say, it doesn't appear there's any major safety concerns with the drug, too, so that looking good for mirati >> well, shares of beyond meat sliding around after reporting earnings moments ago the stock has been on a roller coaster this year since it debuted in may, down more than 60% since its summer highs, but still up more than 3

meg terrell with reporting to get you ahead of that. see you about noon we're about 20 away.ood >>> let's get to rick santelli and get the santelli exchange. rick >> good morning, carl. you know, markets are different than they used to be and they're not different because we use more computers, but there is a difference, platforms make the methodology, how markets arrive at price discovery different, how they act, how choppy they are. in the end, one constant used to always be in the marketplace, traders in the interest rate complex, how interest rates domestically and globally define data that's what you want to pay attention to and that the generic economy isn't necessarily always represented fairly by the stock market all still true but the difference is it certainly seems as though ten year notes like many interest rates kind of lost ps, whether it is policy, yield curve distortions, but one thing now seems toffee merged that's hard to argue against, that is the stock market and european rates are having an outsized influence on our treasury rates. look back to last week

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. >> wow meg terrell is here.ger spending wise >> they spent $27.5 million in 2018 it's an incredibly powerful lobby. it's interesting he is suggesting pharma may have something to do with this. last week the impeachment inquiry heated up analysts talked about how investors were saying maybe this will take some attention off the pressure to lower drug prices. maybe the administration won't be able to push things through on drug prices as they've been talking about doing just because everybody's attention will be elsewhere. interestingly later in that same sort of thought trump talked about how everything they do on big pharma results in pharma stock going up stocks going up. we have a chart here looking back to trump's election, pharma has underformed. bo tech is up 13% compared with s&p 36%. since november 2016. the stock has gone up but not as much as the broader market the trump administration hasn't been successful in pushing through pricing reforms. people are talking about the impeachment inquiry will take p

. >> a big month for biotech and for health care stocks me meg terrell. morning, morgan. like to welcome harvard professor ken rogoff thank you for joining me let's get right into it. >> okay. >> savings was really solid, 8.3% on household spending side, up two-tenths, not bad, but much softer claims, 218,000, yesterday, 1.9% gdp, third quarter, and then the piece of resistance, another week read in chicago, pmi in front of the nationwide number what do you think of the data points >> i don't think there's any question the economy is softening. 1.9, 2% growth is above the fed estimate of trend. that said, i think the trade war is taking its toll the imf estimates that global growth, global, is down almost a percent because of the trade war. the fed economists have similar kmim estimates. that's the main thing. business investment has been weak until that stabilizes i think we'd be lucky to sort of stay on this moderate growth path. >> now, yesterday the fed of course raised for the third time, steve liesman i thought nailed it several times yesterday. it

wiff meg terrell has johnson & johnson's results. and bertha coombs is watching united health. let's start with wilf on the banks. big day for you. >> indeed, big day for the banks. share prices improve significantly during the session, as the numerous earnings calls reassured investors despite mixed numbers this morning net interest margins declined across the board due to the lower yield curve, but net interest income saw a less stark decline, because loan growth did remain solid fixed income commodities supported the overall trading picture, particularly thanks to a strong september goldman sachs profrecovered inty like the rest of the group, but the stock remains the underperformer their investing suffered from an $80 million write-down in their stake from wework, that's to $70 million from originally $150 million. and their share buybacks were lower than expected. jpmorgan, on the other hand, has led the pack throughout the day. their 8% revenue growth year over year really stands out compared to rivals jamie dimon was more cautious on the corporate outlook due to the trad