s&p 500, the worst performers include mylan, down 14.5%. pioneer and natural resources down, dragging the index lower. this is bloomberg. ♪ guy: from london, i'm guy johnson. vonnie: i'm vonnie quinn. let's get a check. selloff today. here is abigail. tuesday risk off tone after yesterday's pullback, trade tensions weighing on stocks in the mood. pace for a second down day. days sincerst five the beginning of march. bearish. in europe, the dax is down. emerging markets down. nowhere to escape. the dow is interesting. similar to the s&p 500 chart. it may be a tell. overall, a range over the last year between the bulls and bears. this is the 50 day moving average in blue. the dow is back in range. the s&p 500 is above. the dow is below the 60 day moving average for the first time this year since going above it. there is near-term bearish pressure. this could be a tell on what is ahead for the s&p 500 which is still above that range and the 50 day moving average. specialized indices, small caps selling off, chips selling off, as well as biotec

mylan down more than 10%. aig having a fantastic quarter. that turnaround is going phenomenally well. there are plenty of stocks to get to. i did want to point to the 210 spread -- 2-10 spread. guy: interesting bond market moves in europe as well. stocks are lower, the trade narrative -- thanks are down as well. -- banks are down as well. talk of the chinese vice premier coming to washington negotiate hasn't done much in terms of the story today. a critical meeting is about to kick off in london. we are expecting the labor team and conservative party team to start negotiating some sort of deal on the brexit story. we will wait to see what's ultimately going to happen there. we are waiting to determine the relationship between the two parties. if we don't get a deal done, it is possible we are headed to a general election, a second referendum. if we do get a deal from the u.k., they could be out of the eu within weeks. the pound has been giving back some of its gains. we are treading just above the 1.30 mark right now. right now, out of the e

mylan losing 20% of its market cap right now.ioneer natural nearly % lower and regeneron down 5%. the perfect soundtrack. ♪ to make each journey more elegant. at adp we're designing a better way to work, so you can achieve what you're working for. >>> welcome back we have a more than 500-point sell-off in the dow jones industrial average right now that's a 2% decline. down 2.3%. the russell 2000s, which are supposed to be more immune to china trade issues, also down 2.2% s&p down 2% as well. bob pisani is at the new york stock exchange and rick santelli at the cme, keeping an eye on all the action bob, what do you see >> well, hao here's what's important -- people need to understand that there's a very, very broad problem here. we tend to say, trade issues, let's put up semiconductors and they're down because they have a lot of revenue exposure to china, or some retailers import a lot of stuff from china. therefore, they're going to be affected but this is much broader than it put up some of the consumer staples names today like

the suit is similar to one filed in 2016. 20 genic drug manufactures including teva, mylan, novartis and sanofi -- the number of drugs, more than 100, the cost to consumers, billions of dollars. >> it'sst deing. it affects health insurance premiums and health insurance plan it impacts medicare and medicaid. and it is a chain reaction that drives up the price of american health care to a natural heist. >> the generic drug tradertroup r points out that generic drug prices have declined over the last tee ars, the lawsuit focuses on activity from 2013 t 2015. it's clearly spooked wall street. >> depending on what it could be, this could be problematic or really problematic. >> civil a penalties return of profits from the alleged price fixing. the state says the investigation is ongoing. for nightly business report, meg terrell. >> tariffs are another thing that ford and gm have to worry about in china. that's where we begin tonight's market focus. auto sales in china fell for the 10th straight month in april. falling nearly from the same month a year ago. china's car sales fell. % last y

teva and mylan are in the same room, do they have tapes if there are tapes and e-mails listen, we what happens is, look, we have got evidence of collusion, if they have evidence of collusion, goes right to the justice department and if it goes right to the justice department, then the executives are in recall trouble. wow. >> obviously nowhere near that level at least as of today let's get to the -- >> i'm early, but, carl, the stocks are indicating that, well, maybe it is not a buying opportunity. >> yeah. bond traders have had a lot to juggle today to rick santelli at the cme. good morning, rick >> good morning, carl. the markets are doing about what you would think when you pit the world's largest customer against the world's largest exporter it is -- i know that jim was thinking, you know, the president is going to cave here and come up with a tweet to try to mollify the markets i don't think so let's look at a three-day of two year note yields, down 8 basis points 2.36 from the third week in march is the low closing yield, not that far away. handful of basis points 10s down six, 3

mylan, the worst performer in the s&p and in the nasdaq, is now down about 25% for the month. part of the reason is this concern about an antitrust price fixing lawsuit brought by the federal government against the generic drugmakers, mylan and teva among the leaders there but overall we're watching biotech today take it on the chin and this is normally a really bullish time for biotech because we're leading up to the oncology conference later this month. but you're seeing some of these stocks today hitting new lows in health care. back to you. >> all right, bertha, thank you. the u.s.-china trade war sending those stocks into a tailspin today. kayla tausche has more on where we stand today >> president trump and traeshszy secretary mnuchin weighing in on the tit for tat with china that sent those markets reeling in a bilateral meeting with the prime minister of hungary president trump says he loves the position the u.s. is in. >> we're in a very strong position our economy has been very powerful thrds h theirs has not been. we've gone up a lot since the great election in 2016

mylan and microchip chlo 'rba itwo.nogy uh-oh, looks like someone's still nervous about buying a new house. is it that obvious? yes it is. you know, maybe you'd worry less if you got geico to help with your homeowners insurance. i didn't know geico could helps with homeowners insurance. yep, they've been doing it for years. what are you doing? big steve? thanks, man. there he is. get to know geico and see how much you could save on homeowners and renters insurance. wat t. rowe price, hundreds of our experts go beyond the numbers to examine investment opportunities firsthand. like a biotech firm that engineers a patient's own cells to fight cancer. this is strategic investing. because your investments deserve the full story. t. rowe price. invest with confidence. mno kidding.rd. but moving your internet and tv? that's easy. easy?! easy? easy. because now xfinity lets you transfer your service online in just about a minute with a few simple steps. really? really. that was easy. yup. plus, with two-hour appointment windows, it's all on your schedule. awesome. now all you have to do is m

regeneron down more than 6% after a miss on earnings mylan with mixed earnings but still having its worst day since 2000 partly due to weaker than expected sales in north america. if you are looking for a bright spot in the health care space, that would be henry schein their shares up more than 5% after better than expected earnings back to you. >> frank, thanks very much another bright spot in the relative sense is the last 15 minutes or so of this trading session because we're only currently down 477 poichbnts. that's why i said in the relative sense 37 on the dow was 650 or so. so we have improved in the last 15 minutes or so of trade which i'm sure bob pisani will tell me in a moment is important there are the four indices down 1.7 on the s&p. russell down 2%. dow down 1.8 all of them still in the red wills your less positive point utilities closest to being flat but it's still down itself and in general as we said lo throughout the session it's broad. only utilities not down more than 1% for the rest of the session. energy in that bracket as well tech, industrials, health care down m

pharmaceuticals pfizer novartis and mylan were in cahoots for years to fix and dramatically inflate the prices of more than $100.00 generic drugs in some cases to raising prices well over 1000 percent the lawsuit lays out how the pharmaceutical companies concocted a scheme designed to ensure that each was being responsible for the greater good of big pharma profits by playing nice miss sandbox together all to ensure that everyone got their fair share of the profits from those generic drugs the impact of this scheme is epic given that 90 percent of all prescription the united states are filled by generic drugs naturally the biggest drug dealers on the planet are crying foul over the lawsuit kelly dorothy tiva vice president said miss state when the allegations in this new complaint and in litigation more generally are just that allegation so hot water is the question now is will big pharma finally face the music for putting profits over people or will the song stay the same in the biggest drug dealers will dance away from justice once again and i hope they don't they don't just dance awa

of course so you must to me these internal representation of what was of the sponsors to their own mylan task caped saying look things are not as they seem here i'm increasingly troubled looking for direction as to hope we can steer things into a more honorable course i did exactly that i sent telegrams back to gentle members of the camp marked top secret saying we are receiving this intelligence from a tour material from torture it's under libel material we shouldn't be getting it and it's illegal in terms of the un convention against torture to receive this material and i'm concerned about the legal position ministers are putting themselves in by receiving it i sent a telegram saying that at the end of two thousand and two and repeated it in january two thousand and three having the seed no answer and i was then called to london government get a witan answer i was called to bundle to a meeting in the foreign office they first thing i was told was that the foreign office was angry with me because such things should never ever be put in writing so you would know we're i mean what was the

pfizer novartis and milan mylan rather all queues of an industry wide scheme that prosecutors say affected the prices of more than 100 generic drugs some of those drugs include ones to treat hiv asthma cancer contraceptives as well as antidepressants so $44.00 states are part of the sausage and here's how attorneys general say this game worked the states allege that dozens of these generic drug companies as well as specific individuals executives and sales marketing and pricing deliberately avoided written records of their price fixing plans so they wouldn't get caught in what prosecutors say was a scheme that they knew was illegal and stead the lawsuit says the exacts made their plans to gather at industry networking events like meals parties other outings and as a result they basically divvied up the market agreed on prices and started raising them on generic drugs sometimes as much as a 1000 percent so these competitors allegedly had an agreement to cooperate so they could quote get their fair share of the market and that's according to the lawsuit daniel and according to the lawsuit fr

baker hughes, arista networks and mylan down 20% just this quarter.> looks look the market rout is not going to continue today. it's still early dow futures, they're up 95 points i know we lost 617 yesterday, but the markets are not in the red right now. all right. i want to talk about bitcoin because you know what has been solidly in the green bitcoin. bitcoin stock, look at this. 110% gain in just a couple of months bitcoin at 8,100 you may be thinking why? there's a theory bitcoin may be being used as a hedge against all the trump trade stuff. a lot of demand comes from asia. buyers are coming in as a hedge against the trade war because it's something that is unaffected by trade and by central banks. one theory got to watch it china trade stocks down. bitcoin up let's now bring in michael he is managing director of vios advisors michael, don't worry i'm not going to ask you about business coin, but i am going to ask you about the stock market what advice do you give to your clients after yesterday's 617 point drop who probably still have memories o

mylan-year-old son got his first deer this past fall. >> reporter: now his focus is on unseating trumped to defeat donald trump in 2020 interview the corrupt system that lets campaign money drown out the peoples voice. >> reporter: beto o'rourke isn't pulling that far ahead of bullock, the newcomer. he has slipped from a fundraising on launch day to 4.2% in the real clear policy polls. the trump campaign doesn't -- their plan is to brand them all as one. the communications director for the campaign says he likens the field to one big socialist organism with 22 heads. peter doocy, fox news. jillian: we will keep an eye on that for now. one big city the first to ban facial recognition technology. rob: what critics are saying. >> reporter: san francisco is known for being pretty tech friendly, has become the first city in the country to ban the use of facial recognition technology including dozens of city departments including the san francisco police department. it does not include business as a residents. they will still use their own facial recognition technology and things like that.

mylan is lower as well because there are concerns with them, as well as concerns the u.s.ht bring a generic price-fixing case against them. david: you never know what is going on with rogue jury. many thanks to taylor riggs. arkansas has made a push to ensure it provides a climate conducive to the creation of business. we have the governor here to talk about how it is going. ♪ the latest innovation from xfinity isn't just a store. it's a save more with a new kind of wireless network store. it's a look what your wifi can do now store. a get your questions answered by awesome experts store. it's a now there's one store that connects your life like never before store. the xfinity store is here. and it's simple, easy, awesome. david: this is "balance of power" on bloomberg television. i'm david westin. for first word news, we go to mark crumpton. mark: house democrats will be trying to pass a disaster aid bill. theblican ship royal block attempt last week to pass the measure under fast-track rules. he complained about the cost. the outgoing british prime minister theresa may s

. >> we get another big batch of earnings you have mylan labs, electronic arts, lyft, and papa john's. now, on the data front we're going to get a pulse check on the jobs market with our favorite economic indicator here on world wooitd exchange that is the most recent joelts survey job oels opening and labor turnover do we still have seven million open jobs in america we're going to find out at 10:00 a.m. eastern time today. that is not all. at noon eastern wynn resorts will kick off its annual shareholder meeting, and we'll have full coverage of all of this throughout the day here on cnbc well, there is still so much to do on this tuesday morning coming up, a permian power play. the friday night fight in the heart of oil country taking another twist. why chevron you are now on the clock. later, brewing up an ipo the world's number one beer market making a big bet on asia. all that and more right after this >>> chevron, you are officially on the clock a big battle on the big battle over the permian basin in texas. it kicks in a clause that gives them four days to come back with a coun

. >>> welcome back to "fast money" with 56% of the s&p 500, halliburton, mylan, activision, blizzard and nvidia all in bear market territory and we thought right now would be the best time to do bottom fishing and let's go off the charts with chris verone >> let's first start with the index and put in context where we are and what comes next we had this 25% rally off the lows over about a period of four months we've come in 4.5% or 5% from the highs and a modest correction and it's early to say that we're deeply oversold and yet we still have 40% of stocks above the 50-day moving, and it's not washed out to the extent that you would expect for the decline of that, and i think there's a little bit more work to go on the downside and maybe 2650 and 2700 i think is an area where there's better opportunity. so we want to focus names and we want to focus on stocks that are washed out, and it's still down about 30% from the 52-week high and we've been impressed with the leadership that is offered over the last number of weeks, and it's quietly come out of oversold territory and this is a s

and with the exception of mylan, combination of disappointing earnings, discussion around tariffs and saying we'll have to raise prices at some point due to the added cost of tariffs bucking the downward trend for the month, not a lot of them but a number in the health care space. big pharma, you see pfizer there up about 3%. kelly, down 273 points and off the lows back to you. >> seema, thanks how big of an impact could these tariffs have on the u.s. economy? and is a potential trade war with mexico a bigger threat than one with china steve liesman has that for us. >> 25% tariffs, kelly, on mexican imports are potentially a very big deal. potentially bigger deal if mexico retaliates. take a look at the wall here you can see that it's about as big as china or even bigger, depends on how you look at it. there's $558 billion of imports. we get more imports from china but send them more stuff and a lot of the stuff we send them, they send back to us so it's a big circular, what do you want to call it? supply chain issue out there, with how american companies are set up to do business. 25

gilead and mylan among the stocks that saw a sharp move to the down side. gilead finished down 4%. name down only a bit oft highs of the day but finishing down more than 6% let's turn now to some of the transport names. j.b. hunt and southwest. both saw sharp declines into the close. that's a sector that investors have been watching closely as a potential sign of broader economic weakness. the group isn't trading in correction territory down nearly 14% from its recent highs in mid september wilf >> rahel, thanks very much for that the 10-year treasury yield meantime hitting the lowest level since october 2017 sending mortgage rates plunging. joining us now to discuss, caliber home loans ceo thanks very much for joining us. great to see you you were head of citi mortgage's department during the crash. do you look at the market now and see any worrying red flag similarities as you saw then >> i don't the reason is i think that the market is pretty much performing at its long-term trend levels. i don't see any major deviations from the trend there are some individual markets, though.

some of the poorer performers continue to be some of the pharmaceuticals, mylan.his is bloomberg. ♪ vonnie: this is "bloomberg markets." i'm vonnie quinn. checking the markets, now at session lows. the dow is down 2%, the nasdaq continues to drop. this is bloomberg. ♪ at comcast, we didn't build the nation's largest gig-speed network just to make businesses run faster. we built it to help them go beyond. because beyond risk... welcome to the neighborhood, guys. there is reward. ♪ ♪ beyond work and life... who else could he be? there is the moment. beyond technology... there is human ingenuity. ♪ ♪ every day, comcast business is helping businesses go beyond the expected, to do the extraordinary. take your business beyond. mark: i'm mark crumpton with bloomberg first word news. nancy pelosi says the trump administration's defines of subpoenas could be an impeachable defense -- a fence, trump oned president goading house democrats are to remove him from office. speaking at cornell university, she said one of the articles of impeachment against richard nixon was based

located the remains of a female in a trash can that were later verified to be 19 year-old mother to be mylan chore. >>a mother and daughter are now facing murder charges police say clarissa and deseret figaro a strangled expectant mother 19 year old marlin ochoa lopez to death then removed her unborn baby from her womb was some sort of coaxial cable like a cable that's what they used to to strangle marlon but you lopez went missing after she went to a chicago home to pick up a stroller and baby clothes. her newborn was found when paramedics responded to a distress call at the home. police say the figaro is where they're trying to pass the baby off as their own clarissa calls 911 is standing on street with a newborn baby. >>stating that i just had a baby. >>the baby was confirmed to be ochoa lopez's after dna testing. police say the child is now in grave condition. ochoa lopez's family is overwhelmed with grief, some of them barely able to stand and had to be carried into the medical examiner's office to identify her body. they should be celebrating the birth. the young bay. >>instead, you kn

manufacturer in the worl, that te va will raise prices on x day, and another generic drug maufacturer, say mylanl follow. there are overt conversations by specific manufacturers by representatives of certain manufacturers about price movements and howhey will react to them. they also talk about dividing up their fair share of the market and forcing a market allocation or division of markethare by playing nice in the sandbox with each other. so it's that kind of language that shows there i an overt agreement to collude on price and market share. >> yang: in addition to trying to stop this practice, is your lawsuit tryingto get any of this money back for the consume centers. >> yes. we're trying to claw back the billions of dollars that they stole from the american peoatpl. through e believe to be one of the biggest frauds ever committed on the people of this countrne >> yang: cicut attorney general william tong, thanks so much for joining us. >> thank you, john. >> yang: the drug companies namein the lawsuit have strongly denied any wrongdoing and have pledged to vigorously defend themselves in c

yanking the s&p 500 lower at this hour is mylan hitting a new 52-week low after reporting lower than expected quarterly revenue. the epipen maker didn't give a clear picture of the company's strategy in the face of a tougher pricing environment for generics. they also revealed that several states plan to file a new complaint against the drug maker alleging anticompetitive conduct with regard to some of its generic drugs. the stock is down 21%. >>> and this. anadarko petroleum has picked a suitor at last, last night it said the $38 billion bid by occidental was superior to the $30 billion offer it had already accepted from chevron, tilting the odds in its favor, occidental got the backing of berkshire hathaway, agreed to sell some assets and increase the cash portion of the deal. so there is some green on the screen today. the first two stocks you're looking at, anadarko and occidental, both higher. that's news when you have a sea of red on the screen. >>> breaking this hour, it is all about china. could it be a china u-turn? u.s. trade representative robert lighthizer says that china

mylan among 20 drugmakers being implicated in a federal lawsuit of price fixing of generic drugs having big losing day today. that is one we are going to watch very carefully guys, back to you. >> all right thank you, bertha. as the nat dak the half is only a few minutes away you're going to have your hands full >> no doubt, like you guys, carl we're going to continue to follow this big story. try to answer the question, what is the breaking point for stocks if we keep falling the way we are now, will stocks be able to bounce back if you get a tweet or any advancement in the trade talks? we'll dive into that with our investment committee we'll look at the continued uber crush. at what point if any is that stock worth buying and we'll talk about the one health care stock you might want to take a look at based on our call of the day. coming up about ten minutes or so see you in just a few. >> sounds good, scott. looking forward to it. over to rick santelli. hey, rick. >> thank you you know, there's a lot of markets where the visuals pretty much the tell the entire story one is a product w

laggards there, mylan, symantec, affiliated managers.articularly what is going on in china. again you see that in the weekly laggards. cheryl, send it back to you. cheryl: crazy types. gerri willis see you in just a bid. the trade issues weighing on markets, what are some ways to invest the path forward as trade negotiations continue? let's bring in ameriprize financial chief market strategist, david joyce. what do you make of the markets on a day like today? what do you tell people? >> i think markets held in there better than i expected with all craziness around trade, changing hour-to-hour, not even day-to-day. the markets doing pretty good job holding to 50 day moving average. the market holds out hope we get this resolved at some point but maybe not today. cheryl: your advice stay the course with your clients? >> earnings is bet per. this is little hub hiccup with trade. cheryl: are there any safe points with investors with trade talks continuing? it is been six months but we keep going? >> there are sectors almost impervious to tra

mylan pharmaceuticals. the reason they're down because of a lawsuit.t has to do with entire retail sector, lower due to tariffs. investors are expecting a further drop. i will throw it back to you. liz: thank you very much. when we talk about traders, some wake up to trade for themselves with their own capital. bring in todd horowitz. he is known to bubba for us. todd, our producers were calling you what to say at 3:58 today. you said i'm too busy trading. what were you doing starting this morning early? >> i started last night, liz. i was trading the futures. that big selloff came as soon as the tariff announcement came out. they became very active and volatile. i traded almost all night. was getting set up for this morning because i knew i would be buying stocks. i had to wear both hats once actual equities open. i have to wear the investor hat i always buy equities to hold for long term which i recommend all investors do. don't look so much. stay invested. long-term you make money. as trader i was selling grain, coin, soybeans and wheat to take prof

but, i don't want to step into a allergan or mylan either i think you have to be very tactical in your health care exposure >> the thing i love most about merck is the diversity of what they have for sale right now and oncology they have the diabetes franchises doing well. look, the thing in this space is if you're going to buy a one-trick pony, it has to be at the right price. generon has it on the eye disease. >> what about merck? >> i already said i like merck for the diversity of the product pipeline and what they're selling right now. >> i'm sorry you would be a buyer of that >> that's right. my bad all right. answer some of your questions now. we did get some write ins and i'm coming to you first. abbott nothing to do with china trade deal >> not much of a selloff here. i think abbott has hung in quite well high-quality name in a space that we were discussing that most of us like and i'd stick with it. >> kevin, got one for you from syd in san francisco great city is pinterest a good buy? >> no. no, it isn't this isn't the kind of stock you buy when you have the issues weighing o

when we say beating, look at teva pharmaceuticals, down 15% followed by lannet company down 19%, mylan down 10%. ash acorn, endo international getting crushed after "60 minutes" ran a piece allebout a lawsuit filed by the connecticut ag's office that accuses the israeli drug giant teva of inflating drug prices by as much as 1,000%. but there are very few stocks that can blame their fall on legal troubles such as that, or what's happening with apple. most at this hour are under water because china announced today it will slap retaliatory tariffs of about 5% to 25% on nearly $60 billion of u.s. goods and that begins at midnight, june 1st. the expectation is that you could argue there would be sort of a boomerang effect that will hit american consumers and it's hitting the dow right now. the dow down 584. the new chinese tariffs will be slapped on a massive variety of items ranging on your screen from alcohol to frozen fruit and vegetables, coffee, how about clothing, yes, wood, household appliances, washers,rs even tires on your cars. the chinese pulled out the tariff weapon after presid

maria: when we talked about the epipen crisis and spoke with the ceo of mylan labs she blamed the pharmacyll these middlemen. what about that? >> she might have a point because teva doesn't make a product that you would get in a drugstore. it makes things that go into that product. so if you were to say what drugs are affected by what the government says teva did in this lawsuit? hundreds of everyday things that we buy or that doctors prescribe for us are affected by this because teva is so integral to that process. >> you're saying they're in the supply chain of pharmaceuticals. >> yes, yes. now, question. does the supply chain of pharmaceuticals determine the ultimate consumer price? answer: rarely. that's why this is a conspiracy case. the allegation is that teva and a bu bunch of others -- maria: a teva's stock is down. >> the mylan situation had a situation where the fda was not approving some competitors and allowed some people to charge a lot. here, you don't think of generic drug makers having a lot of leverage. maybe this is a tough conspiracy to pull off. i'm wondering, if it is

they boosted their outlook and got some big bumps. .otice mylan a lot of drugmakers under pressure for various different stories. let's go into the bloomberg. speaking of pressure. because this is a chart of the gap sales that have been under pressure. the expectation was they would come out with a report after hours showing they were down 1%. guess what? they came down with quadruple that decline. let's go to the after the hours chart and you can see gap shares getting slammed. a lot of stuff going on but sales stumbling across the board in all categories. the cfo on the conference call addressing a little bit of the tariffs, saying they believe there will be passed down to the consumer as a tax. at least from their perspective. have been ableey to decrease their dependency on china goods from 25% three years ago to 21%. very interesting. a lot of analysts know they were down 10% in namebrand stores and that will jeopardize their ability in the eyes of wall street to turn things around. this: we continue to see excess supply story in oil unfold. su: the market has been focused on opec

and mylan at a new low after continuing concerns about the generic drug lawsuit >>> we're going to pause our market for some breaking news. a helicopter crash in new york sue herera has the details for us >> what happened, according to the new york police department is that a helicopter coming in for a landing fell short of the landing on west 30th street and the hudson river it crashed into the hudson river. you're looking at that live shot at the west 30th street port basically what happened is it had one person on board. that was the pilot a new york water ferry was approaching that particular area the ferry deploy someday life-saving services and they pulled the pilot into the ferry. he reportedly is unhurt. but it was coming in for a landing. it missed the heliport and went into the river one person on board. so far we report no injuries to that pilot who was rescued by a new york waterway crew guys we're monitoring this situation. i'll send it back to you >> sue, thanks >>> turning back to the markets. news of a delay in auto tariffs reversed an earlier market slump. phil lebeau ha

aig, occidental petroleum and tuesday lyft, as well as results from electronic arts, match group and mylannd uber. booking holdings, tapestry and dropbox, friday brings uber's long-awaited ipo and earnings for via com and tribune media and myriad we have a few key earnings, mike, but uber will be front and center >> it seems like they'll build toward uber. be beyond that, we're at that moment saying okay a lot of people onboard with the fact that the market has upside momentum and this rally has been more impressive than most thought and a lot of people looking for the ironic top moment whether it's softbank deciding to go public or uber getting priced and it doesn't work that much according to script, but i think that's where we are in the market lyft earnings which is interesting, and mike, today resoundingly positive and taking us flat for what was otherwise a challenging week coming back off the highs. >> it goes down as an up week and it's important for some folks up 17.5% for the s&p. >> have a lovely weekend, everyone thanks for watching. that does it for "closing bell". >> "mofast

on the other side we have 200 new lows among them some of those stocks that are really broken like mylant heinz which are dealing with some significant issues particular to those companies. but one of the standouts today is the retail sector dollar tree is the best performer. companies came in in line on earnings but says so far it's been able to mitigate the tariff impact the next tranche not so sure this afternoon alta and costco on tap let's send it back downtown to seema. >> we're at post 5 watching shares of uber ahead of its earnings report. take a look at 39.75 down half a per-cent on the day and 11%fro its ipo. let's talk volume. 20.5 million shares have exchanged hands. that's well below its 30-day average. keep in mind on its first day of trade 186 million shares exchanged hands. back to the broader market in addition to uber we get reports from alta, costco, gap among others keep in mind future earnings estimates have come down substantially from the 1st of april. 0.9% versus a 2.8% expected in april. to the broader markets we're looking at the dow up about 28 points we were d

and mylan which was the week's worst performer on the's nasdaq coming back today after forecasting better guidance. overall health care's a relative outperformer in the market this week even with new trump administration regulatory announcements on drug prices and to surprise medical bills. that push announced today, sara. >> all right, bertha, thank you. let's bring in jason trener, chairman of stra tegus research partners and -- to help investors navigate through there, jason, you're pretty bullish, jason how does the new uncertainty regarding the china trade deal dent that? >> not too much. i think what was priced into the market was there's some deal to be had what i don't think is priced into the market frankly is the up side, which is actually at the end of the day you get a deal that expands trade and lowered tariffs which in my opinion -- >> we were getting there then we got the tweets this week >> that's right. i'm not quite sure whose fault it was maybe somebody got greedy on one side or the other. but i think the trump administration has been pretty fixated on the idea they wan

mylan burke with this tweet -- you can write or do something tout it, iowa citizens voted raise the gasax a few years back, we are getting it done. murray, thank you for waiting. go ahead. caller: good morning, steve. how are you? of these right-wingers calling and expressing the idea that you will not pay taxes in this country. he will pay taxes. the only thing is what your taxes will be go to -- going towards. further than that, your income taxes are going to be raised. more specifically, the income taxes on those who are very wealthy will be raised. that is going to be directed towards more health care for everyone. the last thing that i want to acknowledge is that i'm sick of these both sides equivalencies coming from the corporate media. it was not nancy pelosi that tried to express some degree of and nowhere near the equivalence of the person in the white house. no food fight going on. there's one side trying to andess these crazy bromides nasty criticisms. like the person in the white house. it's not you, obviously, c-span, but you are owned by corporate entities. regardless of t