this is a big change he want to see at procter & gamble. that's the news.lysts love it bernstein took up his price target from five bucks to $9 a share. we got to talk to david taylor about a lot of things that are affecting his business in the background, strong dollar, global consumers and trade wars. i want to share with you what he's worried about and how he can impact his business. listen >>. >> what i worry about trade war is destroys consumer confidence in american brands i have not seen that as long as you produce in china and most of our brands we do, the terrorisariffs won't have a impact this is good for our country and china. it is not good i believe in free and open trade. that raises all boats. >> reporter: so he does not think it is good but he did say a strong dollar is a lot more of a profit hit right now we'll have a lot more from him on the stocks and the big changes he's making today and the global environment and his thoughts on the fed coming up in the next hour. back to you guys >> i think sara is in the right place. sara >> reporter:

>> it's not about me >> procter & gamble looking to simplify they will reorganize into six smaller businessnits each will be broken out by a product category like beauty david taylor sat down with sara eisen after announcing this reorganization she asked him what he's hoping to accomplish with the restructure. >> without question the goal for all that we're doing, both our superiority strategy and the organizational change is to get the balance, growth and value creation we believe that the path we're on which is leveraging superiority of the product, the package, go to market capability, communications, consumer and customer value, doing that right will cause us to win a big part of winning is making sure we're agile to serve the customers and distributors in each market. >> sara eisen will have more of her interview with david taylor in the 8:00 hour. >>> yelp shares are plunging after the company missed on revenue. the online review company hurt by slower than expected local advertising growth yelp also cutting its revenue guidance >>> hertz shares going the opposite way they're rising t

by this new organizational structure, it is, by the way, a huge change for procter & gamble they used to have heads of geographies, heads of individual categories everybody reported up through a matrix organization to headquarters decision making was slow it was complex you'll remember, when nelson peltz waged a proxy war last year, he complained about it, saying that's why they missed out on key consumer trends and weren't fast enough to the market peltz is now on the board. clearly, the company is listening to the shareholders. they're making moves to get out into the market and come up with these newer, faster innovations, so they don't have to worry about slower growth in what is a tough environment. >> newer, faster procter & gamble tanker ship. see if they can turn it. sarah eisen in cincinnati, ohio. >>> oil on pace for a ten-session losing streak, now in bear market territory what should you be buying in a crude bear market? we'll have the answers coming up next on "power lunch." >>> and we're going to continue, by the way, yesterday's hot debate will the fed hike rates, and w

thanks >> in other corporate news there's stress in since nat tich cincinnati after procter & gambles looking to reorganize. >> they will reorganize into six smaller business units each will be broken out by a product category like beauty the move is something investors have been calling for including one prominent investor, nelson peltz. peltz fought p&g last year in a proxy fight and won a board seat in march david taylor sat down with sara eisen after announcing this reorganization she asked him what he's hoping to accomplish with the restructure. >> without question the goal for all that we're doing, both our superiority strategy and the organizational change is to get the balance growth and value creation we believe that the path we're on which is leveraging superiority of the product, the packa package, go to market capability, communications, consumer and customer value, doing that right will cause us to win a big part of winning is making sure we're agile >> david taylor will sit down this morning with cnbc >> important company, not only to the region but to the country. >>>

and two of the participating leaders are here now david taylor, procter & gamble chairman and ceo andrman and senior partner and founded the ceo action in reading about kim, it's not totally access, it's happy talk and action and benefits. i think so you had to look at it and really consider things, david. and the more you look into things, you see it makes sense, probably >> yeah, absolutely makes sense. it's a coalition of ceos that are concerned about how to turn on all of the human capital. and there's a significant portion of human capital that wasn't fully turned on and finding ways to create dialogue in our company has made a difference it's made a difference on our company and employees. it also makes a difference on how well we conserve consumers, or more broadly, diverse consumers. which is important to our business and the coalition is now about 500 companies, that can share best practices, that can identify ideas in this area, if we're along with each other, we can create a better marketplace for everybody. >> and, tim, there must be some type of complicit bias that most p

and a procter & gamble may have another packaging problem.ny debuted its tide ecobox there it is it happen haded to look like a wine box and that is generating a lot of buzz on twitter with some calling the infamous tide pod challenge where teens were daring each other to eat detergent pods if it look like wine maybe you want to drink it. we sure hope not. meanwhile stocks closing sharp isly lower with a dow tumbling 602 points yesterday. this as crude oil loses ground for 11th consecutive dayening loest on record and to be down for the 12th day. todd is the chief strategist for bubba trading todd great to have you here. you know, i didn't think it could get any worse than october, the s&p 500 had its worst month in seven years but here we are in november and looking brutal. how long will this volatility continue in your view? >> good morning. we have i think a lot more room to go on downside you know markets as they start to generate more volatility as we're seeing because volatility trade is up but you can see trending higher and more volat

procter & gamble will have a long road ahead with this.aphical areas around the world, they reduced that to six to try to improve efficiencies. i'm not sure it's going to work. it's a great company but a slow growth company. i wouldn't buy the stock. stuart: are you a happy investor looking towards the end of the year? >> i'm an incredibly happy investor. the oil prices coming down was huge. you look at what happened with the iranian sanctions. you gave a lot of exemptions so oil prices wouldn't spike. that was my biggest fear other than the trade war. oil prices to me was one of the biggest fears out there. that's been taken off the table. i love the economy here and i like the market. stuart: back to the beach, john. we will see you very soon. i'm so jealous. he's in a wonderful place. >>> small business optimism has been at a record high in recent months. the democrats are now taking control of the house, so are mom and pop businesses getting worried? joining us now is juanita duggan, president and ceo of the nfib. what is the feeling n

i regard apple as the greatest consumer packaged goods play on earth, like a better version of procter & gamble you don't see procter & gamble giving you the number of gillette razors it sells each quarter. give the severalers who don't believe tim cook's explanation a couple more days to get out. then if you don't own it, i'd start buying it. remember, apple is the world's biggest buyback, and next week i bet you they will be in there repurchasingthis stock right alongside you. stick with cramer. >> announcer: coming up, mcdonald's is shaking up the menu, but should you be hungry for the stock? cramer gives his takewith onions on the side, next at&t provides edge-to-edge intelligence, covering virtually every part of your finance business. and so if someone tries to breach your firewall in london & you start to panic... don't. because your cto says we've got allies on the outside... ...& security algorithms on the inside... ...& that way you can focus on expanding into eastern europe... ...& that makes the branch managers happy & yes, that's the branch managers happy. at&t provides ed

procter & gamble says the box will have a picture of the tide bottle on it and a label warning foornts keep it stored away from children. >> trevor: i get the box looks like wine but why do parents think kids will mistake tide for wine? why are your child drinking wine? kids should be drinking wine coolers, come on, called parenting! what kids would be stupid enough to drink detergent? don't answer that question. moving on. the midterms, like any trip to "keyia longer than expected. last night kirsten synma won. in georgia they're still right figure out who won the race. in alabama, roy moore was only this morning declared jefferson b high's first class president. congratulations. the real drama is as always in florida. the florida of states. both the senate and governor's races are too close to call and the republicans there aren't handling the stress well. >> republicans from the president on doin' are united in their attempt to stop counting votes. in florida's senate and gubernatorial election before the final tally. >> i will not sit idly by while unethical liberals try steal this

i want to start here with a comparison of procter & gamble with the nasdaq -- with nasdaq.their earnings, looking at forward priced earnings ratio? procter & gamble has been valued, their alley -- the earnings have been valued lower, but it has turned around now. we have had several years of growth outperforming. environment,wth investors wanted to see growth in the companies, and they were willing to pay for it. now, all of a sudden, it has grossed better, but risk is higher, so now value and dividends are starting to be where investors want to rotate into. david: as a chief investment officer, what does that tell you with changes that you need to make in your -- what does that tell you it changes you need to make with your strategy? backing offe been growth. when you see this outperformance going on, you see that leveling off the neck and signal a trend we have been emphasizing dividends, emphasizing value, and the emphasizing that hypergrowth. the other thing that is important, when you look at the growth stocks, especially the tech marquee names, they have had a disprop

they're as stupid as bezos these are great people when you are on the procter & gamble call, do theyell you how many razors they sold? let me tell you. they don't that is consumer package goods if this company are followed by the people who did a consumer goods. >> you are not disagreeing with iphones going negative next year and desell -- deceleration on services >> mthey missed on their unit number i am just saying >> okay, they're awful service number was fine, they did not allow gaining in the government china >> that matters. there is a belief that chinese is going to lose in the gain >> i used to handle cash management what i know is this. when you have this high of fed funds rate, you should sit there and coin money what did the cfo say to me when i suggest that are y are you kidding? we'll buy back stocks. okay, hedge funds who are under perform and don't deserve your two and 20 or whatever you guys do you prey on the economy and you useless. i will buy your stock. >> what about the notion that and jim it has been a theme with all apprentice quarters, asp is up mcdonald's mak

the names in it are boring, procter & gamble, walmart, those are big names. they all beat the s&p this month. those names have 50% of their sales overseas if trade wars are off, these p/e expansions will be dramatic. i'm trying to be positive in a time everybody is negative. >> no, it's being real, a realist. >> the pain over there from what i hear is brutal it's brutal. they're not having a good time they invite them to talk about investing. they're not even doing shark tank >> where does trade factor into, again, you're expecting a ramp-up between now and the end of the year. >> it's a huge issue i'm hopeful if we get past the midterm we'll let stocks be able to move up more. we think trade will not disappear from the radar, it will come back ahead of the 2020 elections. it's about quality companies right now and i think -- it's about quality. i would say on the trade front -- >> i don't like using -- >> i'm joking around with you. >> from an opportunity standpoint -- >> i didn't think it was funny >> you're cranky because the redskins lost. >> go ahead. >>

pass, then the reception stocks with china are a little higher you should superseding coca-cola, procter & gamble, mcdonald's all in the selloff. here you got to think 3m, emerson, united technologies, and sadly, apple which has become the political football given it is nature in both countries. this game may not be worth playing. if you're a trader, you might want to scoop up some apple if it goes down i still believe apple is a stock you should own, not trade. in the end i just want you to be ready for the most likely outcome here which means the recession would rally on monday and the industrials get absolutely slammed let's go to r.j. in virginia r.j. >> caller: hi, jim i have a question about silver silver has been down about 15% over the last year what's your outlook on silver for the next six to 12 months? >> i'm not a fan of silver frankly i think there are too much of the stuff, and think there's other stuff. gold has been invested in recently and it's not been good. silver, no, industrial uses and just not precious enough let's go to luca in texas, please luca >> mr. cramer, th

leaves on what's going on with goldman jpmorgan also on the weak side you have johnson and johnson and procter gamble, coke, up when you get a 50 day crossing the 200 day, it is a negative technical indicator. a lot of people are talking about that now guys, back to you. z >> thank you, bob. >>> sap buying survey software company. that deal approved by boards of both companies they compete with survey monkey and other companies. survey monkey went public in september. it is bigger and more profitable >> they do surveys we re-invent customer experiences in a whole new category called experience management if you want to survey somebody, hire survey monkey if you want to fundamentally change the way enterprise thinks of the culture, brand, products, people, you are talking qualtrics. >> this is a big premium qualtrics had 300 million in revenue end of last year $8 billion is quite a multiple it is interesting along this trend of getting data about why employees are doing what they're doing, why customers are doing what they're doing this is what adobe and sales force are fighting over, among a l

and what would you say to deputy procter if he were here?him yourself.ig he is r here. jason procter, t deputy and his partnergo michael. od to see you guys. >> hey. ah! >> thank you very much. i appreciate it. >> you were about to tell me what you were going to say to him. >> i want to tell y'all thank oru very much for everything that y'all done f us. i will never be able to thank y'all for the fullest extent. had it not been for you, i don't know what we would have we didn't have enough supplies to be stuck for days out there. i appreciate t very much. >> thank you guys so much. >> what is going through your mind right now? >> well, really, i thiyb that evy that reposted the initial posting is really the heroes. that travelled across the country thousands of times, and just got to the right people. i mean, everyone behind us has done similar things like this. this is just part of our job. >> and you guys have done such amazing work. we wanted to thank you, so we got a little som you in the truck. we brought in bashoally some day dinners f

gamble and find ourselves wondering what we do at our procter & gamble stock. there will be bumps in the road. there's always reason to be concerned. most viewers can't remember what the worries were that caused the last 10 % decline. remembering the last person that last the presidency before trump. >> yeah. >> we're in it we think it's good no recession keep going be tactical. but keep your allegation fully invested. >> david, how about you? what do you think the effect of higher rates as we move into 2019 higher rates and slower profit growth could mean for the overall market and individual sectors. >> we think the president and the administration is sort of directed the world to look at interest rates and the fed raising rates. we don't think that's a problem. we think it's very, very manageable we think the biggest problem and there are concerns, it's on tariffs and trade and china. if you look at this last quarter's earnings season, about 30% of the companies talked about tariffs and trade in china as the reason that they're a little bit more cautious in

don't miss cnbc's exclusive o vitaorw with procter & gamble cedad yl "squawk alley" continues next.n we'll be there i am a family man. i am a techie dad. i believe the best technology should feel effortless. like magic. at comcast, it's my job to develop, apps and tools that simplify your experience. my name is mike, i'm in product development at comcast. we're working to make things simple, easy and awesome. . >>> google's ceo sending a memo to employees acresting the company's sexual harassment policies in the wake of the massive employee walkout our aditi roy is covering it >> an email in the wake of the massive walkout in which 20,000 people participated. addressing the company's concerns over the handling of sexual misconduct. all corners of the earth were involved here's what the ceo wrote, started off by saying we recognize we have not always dwoten everything right in the past and we're sorry for that. it's clear we need to make changes. he also outlined some of the key steps the company is making to make things right with employees. the number one thing is getting rid of fo

that's procter & gamble essentially flat right now, so where are we what's the market risk remember thest ones, of course out there, number one, the risk of aggressive fed tightening that risk is lower, though i would point out mr. mowl did not change his overall outlook on the xhu. the other, of course, is the trade war issues and, of course, some hope that the meeting this weekend scheduled between president xi and president trump might produce some kind of truce. we'll see if that could spark another market rally guys, back to you. >> thanks very much for that let's send it uptown to see what's happening at the nasdaq with bertha coombs. >> reporter: hey, wilf, a fairly broad real and the nasdaq composite outperforming, but when it comes to month to date it's lagging, still just fractionally lower for the month along with the nasdaq 100. today, what's really moving tech even before that powell real was the strong results from salesnorse.com that. has a lot of the cloud players today moving much higher right along with the bullish outlook coming from mark benioff one of the biggest cl

you look at names like procter & gamble, everybody needs tide and pampers so everybody will jump intowhen they feel a little uncertain, and those types of stocks are a good place to be putting money right now. you get a little bit of dividend yield, maybe 3% on j & j, for example, that will give you a little dividend yield and some down side protection. i like the way the market's rotating and staying a little bit healthy even though it's not making up a lot of ground. charles: utilities and consumer staples the only names up there. consumer staples have become a default safe haven, the new area for widows and orphans despite the lack of pricing power, really ugly earnings reports. what about buy-backs? i want to ask you both, i will start with you, jack, buy-backs coming back, could that rescue the market here? >> it could. in fact, one of the things that i found pretty striking was a big buy-back at berkshire hathaway. warren buffett is looking for acquisitions, he's got billions of cash stockpiled, but he can't find anything, yet he believes berkshire hathaway is cheap enough to ta

dollar strength is absolutely going to hurt those companies that are global, companies like procter &e that everybody owns in their portfolio. so today, actually in the morning, you saw the dollar weakening, you saw china up overnight so that was a little bit of a catalyst. that's something long term we need to rectify. charles: fantastic. thank you very much. appreciate it. the dow down 109 points as i hand it to liz claman. liz: earlier you guys had the bug on oil. we should do that again. oil is crashing and burning right now. it is moving markedly lower in the after market. we are all watching that and also breaking news. get out the whipsaw. wall street sawing back and forth, the dow down as many as 193 points, jumping up as much as 123 points. guess what? we crossed the unchanged line 90 times as the markets digest a flurry of headlines in this final hour ranging from a possible brexit deal, yes, to an oil blood bath and new trade talks with china. president trump not only

. >> today it's true we have david taylor, procter & gamble -- no we always do.ckton i like to trualk to look at a two-year chart of apple which has an 8$880 billion market cap it's really -- it went through going the other way, through 1 trillion, but it looks like if you -- i'm not a chartest. if you draw a line through it, this looks like a place where it might make a last stand. we have kevin mccarthy on, too, the former leader -- what is he going to be called now minority leader i guess now or whip i don't know in the house after all is said and done heel talk about the craziness going on they have a nice picture here. this is after the demonstration i guess in pelosi's office pelo pelosi has her own issues. like she doesn't have enough there's a block that says they'll vote against her i don't know what's happening in florida. i don't know if you have insight there. >> no just more drama playing out with the political situation. >> i think new jersey was pretty good other than electing melendez again. all we did was push little -- right? it's all electronic

that are global, companies like procter & gamble that everybody owns in their portfolio. so today, actually in the morning, you saw the dollar weakening, you saw china up overnight so that was a little bit of a catalyst. that's something long term we need to rectify. charles: fantastic. thank you very much. appreciate it. the dow down 109 points as i hand it to liz claman. liz: earlier you guys had the bug on oil. we should do that again. oil is crashing and burning right now. it is moving markedly lower in the after market. we are all watching that and also breaking news. get out the whipsaw. wall street sawing back and forth, the dow down as many as 193 points, jumping up as much as 123 points. guess what? we crossed the unchanged line 90 times as the markets digest a flurry of headlines in this final hour ranging from a possible brexit deal, yes, to an oil blood bath and new trade talks with china. president trump not only celebrating hindu holiday today but maybe a cease-fire in the trade war with china. larry kudlow has now confirmed that the two nations are talking

>> procter & gamble, judge one of the trades we like the best when you're following a big trader whohas been right and in this case this person, whoever it is, has been spot on. they were buying the $92.50 calls for this stock when it was under $80 three, four weeks ago, pete it has made a monster move that's on it since may when you look at it just in the last little bit here, from right there to there, a $14 move like that, they took profits on 10,000 calls, a million share equivalent, and they bought 10,000 more calls at the january $95 strike i bought those calls, rolled up in them. another quick one -- >> i bought those calls, too, by the way. i like that. that's a big trade >> pete and i are going to vegas tomorrow, judge. that's the reason why, las vegas sands, there's big buying in january call options that's not why it's up big today, at least not for pete because he wins. i don't really play. las vegas sands, they are buying upside calls in here, obviously stocks in this space have been hit over the last little bit we're looking for a nice bounce with the stock in the low 5

which ones come to mind that we have liked historically in the show let's start with 3 m and procter & gamble pepsi co., any one would be a great stock to buy shares in i think of faang, facebook, amazon, netflix, and alphabet, formerly known as google, hence the g, why these i think facebook is a rapidly growing site where you provide the content, and they provide the ads. it's a brilliant company, deep bench. amazon, there's a $4 trillion market for retail goods in the world, and amazon only has a small fraction of it netflix thrks this is a company that wants so much to dominate entertainment, it intuitively recognizes what you want when you want it. game changer why do i still like this alphabet isn't that played out? oh, no, no it dominates search, which happens to be the moment you want to buy something so the advertisers love it. there's a balance sheet of beauty and people working to supplant or complement search, and waymo may be the ultimate in autonomous driving vehicles. these are just examples. they're about growth i know that it seems rather commercial to do what i want

>> they're the only ones that are left aren't we all hiding in pepsi, procter, mccormick spice >> i think that's offsetting their dollar exposure. there are other sectors that have plenty that no one is buying >> what about health care? >> i like health care. >> merck >> i like merck. al allergen >> do you like ge? what do they do? >> somebody wants to nope the answer to that what do they do? >> that look does say it all last night was sad for your football squad, today this is -- that look. >> that interview with david, i mean, all i heard was this, hey, it's going to take a long time good, i've got patience. i have patience. does anyone really have patience anymore? who has pash snens. >> -- patience >> stephanie link. she bought the stock when it was down >> she was in the box last night with her husband who had a dallas jersey on, and i made him take it off. >> for his own safety. that's good looking out. >> but to your point, scott, and pete, great job. i think you called -- what was your price >> 5 >> are you sticking with your 5 target >> we're at 7. >> share dropped below 8 >> he

that could be a good reason why procter & gamble stock, for example, has been running, because it's a say the same thing about clorox, another wheel. but it doesn't explain why people are buying the food company hormel i mean, that's a bid of recession or at least a slowdown you could read the rally that consumer packaged goods reads the same exact way still, whether the cause is lower commodity prices or a slowdown caused by more rate hikes, this group does well. how about the cyclicals? unless we get a deal with china, these stocks will start doing badly because of china that's right so many of the industrials need the china economy to re-accelerate. but can that happen without a trade deal that does away with the tariffs? i doubt it, which is why the group is getting more and more suspect. tech, very, very tough the semiconductor stocks, a lot of them are in free fall the tech is connected with china, it acts terribly, and fang, oh, my, it acts absolutely the worst of all both tech seems very dicey given the chinese slowdown and the four more rate hikes the federal reserve plans fo

what i find fascinating is if you look at procter & gamble, which could be described as being sort ofld economy stock, trading at an all-time high. weakness in the faang stocks. reporter saidew there's quite a lot of worry about the short-term performance in those companies that have done really well through the first half of 2018. manus: strange that we should finish on the conversation, thank you very much, chris ralph. the fangs are certainly under pressure. thanks for sharing your thoughts with us this morning. reports are a key opportunity for us to lean trading ideas and look at trends. our reporters have been lifting the lid on the details. warren buffett is the sage of omaha. where are you going to start? annmarie: we are starting with him, he wrapped up his bet on banks, and added oracle to his list. he boosted his stake in apple, bank of america, goldman, and dny, but he ditched walmart. you can see how much she put in and out of that trait since he first begin investing in 1998. facebook did not see much love last quarter from hedge funds. one reverses course on his stake i

what you are looking at here is the price-to-earnings ratios for procter & gamble, almost the most spacean get. the company that sells diapers, cleaning supplies, things about some -- things of that sort. the ratio is above that of the nasdaq 100. investors are willing to pay more than for risky companies like the nasdaq 100. the spread is indeed growing. caroline: thank you, sarah. we will have analysis on the extensive losses we are seeing across the board. we've got headlines in terms of tariffs on the auto sector. we understand that trump is planning meeting for tuesday with the treating on the auto report. there traffic a report on auto tariffs. people are-- three speaking to bloomberg. chrysler under pressure. d holding its- for on the starting to lose ground. scarlet: adding to the trade tensions that have been percolating. let's move back to technology. that has been the loser of the day in sector performance. caroline: worst performer of the day, falling by the most in three weeks. drag on they a key sector right now, looking at reports that it is cutting more from its apply. >>

consumer staples, procter & gamble, coca-cola, verizon, johnson & johnson, where do you go in this climate? to the safety of consumer staples. i mentioned financials. goldman sachs getting killed. broad stroke of red for the financials. the other issue here is that if you don't know what to do right now, if you want to get out of this and stay on the sidelines, you can get 3% on your cash. that's the alternative we haven't had for so long, so people being a lot more cautious, staying out of the market and seeing where we go next. liz: imagine that. the bond market is closed today for veterans day. we do want to remind our viewers of that. yeah, it's been awhile since we got even 3% on our cash. looking at the screen here, the dow down 522 points, i want to point out the volatility or fear index is spiking about 15%. it is now above 20 to the upside, rather, above 20, so we are looking at the moment, decent fear here but as we look at this, we also have to take into account the fact that president trump is about to turn his focus to trade once again. now, he had this weekend visit to europe

and he became a lobbyist to procter & gamble. he was also one of the wisest and greatest men in washington. he became assistant in this campaign and became my mentor. i was his contact at the headquarters to take his phone calls. he protected me against senators milton young when they would harass me. on agriculture. the thing about bryce harlow's stats he had a double agent -- the thing about bryce harlow is that he had a double agent and new every move that the president was going to make so there was no secrets at all. bryce was so well known he had people in the white house. bryce harlow was one of the greatest americans i know. i traveled with him too. he is one of the wisest and finest men. >> i remember briefly during the transition johnson called them, eisenhower called him, and nixon called them. i have talked to two presidents and wants future president to be. >> he was enormously well-liked by everyone in the city. >> he became the head of government affairs. >> he told me on his first day when he got into the office t

street," tomorrow i will be joining us live from cincinnati with an interview with david taylor, procter off the best sales quarter in five years. you won't want to miss that. the company has investor day expecting news later. >> do you go back to your old bedroom and stay there >> i stay in a hotel, the house is 25 minutes outside of downtown but hopefully i will see my parents. >> say hi to the eisens. >>> shares of roku hurt despite beating the top and ttboom line. we talk to anthony wood next on "squawk alley. don't go away. this scientist doesn't believe in luck. she believes in research. it can take more than 10 years to develop a single medication. and only 1 in 10,000 ever make it to market. but what if ai could find connections faster. to help this researcher discover new treatments. that's why she's working with watson. it's a smart way to find new hope, which really can't wait. ♪ ♪ >>> good morning, it is 8:00 a.m. at roku headquarters and 11:00 a.m. on wall street. "squawk alley" is live ♪ ♪

it is sending money to mcdonald's and clorox and procter & gamble and pepsico and coca-cola and kimberley and clark. all the money is going that way. they're all hiding in these stocks i got to tell you, it is going to get hard to hide there if everybody hides it >> because, what happens >> because they don't have earnings momentum. they're just by default. >> so pay to wait no longer works? we are one and done or you hear from navarro, i think the chinese recognized what they are doing wrong. >> you heard his speech on friday, right? >> navarro -- that is a speak that reagan gave against the voe soviet union that did not end well. the idea of communist regime change, that's what they really want they wants the communist chinese to become what we thought they would be when we put them into the wto. that's not going to happen >> that's a big one. apple is trading the levels that we have not seen let's get to bob pisani. we are even on the advance decline line, we got strengthen energies and some of the banks doing better, materials, tech is the key story now. take a look, not just apple bu

the best value stock i know subject to that is apple i compare it to say procter & gamble which is luckys. apple has growing earnings, has a lower multiple, has a better balance sheet and smart management so i think it's simple i agree with jim on that. >> and i would say the same. clorox being much more expensive than alphabet as well. >> exactly. >> terry, david, morris, mike, thank you. good discussion. we'll continue that in the days to come. >> thank you. >> thank you. >>> when we come back, we are breaking down the sector winners and losers post-election identify some individual stocks. plus, 11:30 a.m. eastern time president trump will be holding a news conference. we'll take you there live to the white house as soon as he begins speaking >>> and the ceo of adidas speaking out on the heels of reporting results. his thought on what the election is going to mean for his company's bottom line and business in the u.s. the state of the consumer and his holiday forecast "squawk on the street" will be right back dow is up almost 200 points. what am i really being charged? and is it eatin

it used to be that you went to work for procter & gamble and then goldman sachs. what do they do? tom: and that is why networking is a key element of this. jason: you are paying for the opportunity to essentially hobnob with successful people. one of the levels they went down on this which was fascinating, you can network, but do you get a job from that? i don't know about getting a job, but i know that jamie dimon went to harvard business school with stephen that is nowns nbc, coincidence. they have known each other through their careers. everybody.om knows didn't talk about where michigan ended up on this list. not pretty. top 20, there you go. note, as a programming will be doing our show from stanford tomorrow, so a lot more to come on those rankings. david: tom barrett, jason kelly, thank you for being here. you can tune into jason on bloomberg radio daily from 2:00 until 5:00 in the evening eastern time. tomorrow, he will be broadcasting live from stanford, the number one business school on the new rankings. alix: did you go to business school? i did not. de

procter & gamble has developed a smartphone p that enables people to determine the p&g products best suited to their hair.it also enables people with similar hair types to social media. consumers are even asked to punch in a zip how the environment of a different city might hair, including ultraviolet rays, humidity and wind.live from the nasdaq marketsiete, i'm. jane king back to yo u ( darya ) thanks jane ( james ) coming up on the kron 4 morning news... it's been another dry year for california but now there's hope that a developing el nino offer some relief. ( james ) and after the break... we've heard stories about evacuees helping each other but now we are hearing stories of people helping animals left behind... including one of our own. and here's a live look outside... bay bridge [woman 1] this... [woman 2] ..this... [man 1] ...this is my body of proof. [man 2] proof of less joint pain... [woman 3] ...and clearer skin. [man 3] proof that i can fight psoriatic arthritis... [woman 4] ...with humira. [woman 5] humira targets and blocks a specific source of inflammation that cont

johnson & johnson, procter & gamble, coca-cola.to see the stocks up on a day when you see the growth names getting pounded gives you the sense that money is moving into defensive plays as people prepare for maybe what's going to be a weaker end to 2018 and maybe not so robust 2019 >> is the hope of a santa claus rally over >> i'm never giving up on santa. it may be tough through the end of november, my sense is, but i'm kind of hoping that in the last couple weeks you get a little bit of a rally. i think the hope that we close up near the highs which is what i kind of thought was going to happen a month ago, that's probably not going to be what happens. but i think i'm always hopeful that into the end of the year we'll see a little bit of a santa claus rally. this year may be more muted than most i'm still hopeful. >>> kenny, thank you kenny of o'neal securities >>> former new york city mayor just made the biggest gift ever to higher education. we'll tell you how much and what it could mean for students plus take a look at some of

looks like only for the dow 30 stocks are up, you know, sort of trying to face off coca-cola, procterjohnson & johnson. other than that it is red boxes across the field. after this. comcast business built the nation's largest gig-speed network. then went beyond. beyond chasing down network problems. to knowing when and where there's an issue. beyond network complexity. to a zero-touch, one-box world. optimizing performance and budget. beyond having questions. to getting answers. "activecore, how's my network?" "all sites are green." all of which helps you do more than your customers thought possible. comcast business. beyond fast. we're all under one roof now. congratulations. thank you. how many kids? my two. his three. along with two dogs and jake, our new parrot. that is quite the family. quite a lot of colleges to pay for though. a lot of colleges. you get any financial advice? yeah, but i'm pretty sure it's the same plan they sold me before. well your situation's totally changed now. right, right. how 'bout a plan that works for 5 kids, 2 dogs and jake over here? that would be gr

and there's a microcosm of what is going on and that's why defensive stocks are all in new highs procter & gamble and clorox and merck. where are we what moves the market? over the confusion over what the fed is doing and the global growth outlook on tariffs and brexit causing all this volatility i keep looking out, i don't see a catalyst until g-20 and maybe we will actually see a deal. who knows. that is the next real obvious point that i see guys, back to you. >> bob, thanks bob pisani at the new york stock exchange. >>> will the fed go full speed ahead? the number two at the fed indicating this morning the fed might tap the brakes if the economy slows. steve liesman with the take aways. steve? >> thanks. in the first media interview since becoming vice chairman richard strongly suggesting the fed has more rate hike work to do but flexibility how far and how fast the fed goes next year. >> i think certainly where the economy is today and my projection and the fed's projection of where it's going, i think being at neutral would make sense >> now, clarida said the kuns sen consens conse

procter & ganl belmble, coca-co. going up, the yield's coming down and it just has that feel about it right now, the sector that led for so long is kind of deflating a little and bringing the market down with it. of course, we have the china trade worries. no particular progress there that we can latch on to and because of that, we definitely have a defensive market right now. connell: if anything, a lack of progress which doesn't necessarily rule out some sort of tweet this afternoon or statement that leads you to believe maybe there will be progress to be made. you always have to be cognizant of that. but to ashley's point, especially on a monday, holiday week, maybe you would expect a little more from this market and the fact we aren't getting it, people, lot of negative people out there. i don't know what to make of it. what do you make of it? >> i think ashley's right to highlight so many of the different factors contributing to today's selloff. it's not just concerns about trade. however, the vice president's r

right now, i think there are three original members at least old time members in technologies and procter & gamble and maybe one other that have been around from them, but most have fallen by the wayside, mandeville and rca and the onld at&t that was there. the theory of the economist, the great triumphs of capitalism are the seeds of their own failures. they build large bureaucracies that kill themselves and we're looking for the facebooks, the new thing, et cetera ge at its day, edison was the mark zuckerberg. can they bring that back in? that's what jeff immelt was trying to do, make ge cool, but the optics weren't enough, and i think one thing we have to question is really what's going to happen at ft. point channel boston will they build an edifice you can see from the moon or maybe something less grander the theory of danaher was an understated firm and ge will probably be more humble a firm for obvious reasons. we need somebody to take these jobs we're lucky he's there to do it. >> jeff, i want to thank you very much for your time today. it's always good to see you. >> thanks. >> j

it spreads to food, you know, to chips, to even consumer companies, procter & gamble and as i said, hormelds. you realize this cuts across a variety of industries. just among those stocks, i think i mentioned seven of the 11 s&p sectors we follow. so that's a very good reminder to you how crucial this is to some of these stocks, many of whom have gotten bad. intel a good reminder there. they could see that just reverse knowing its prospects with china are looking more favorable. let's get a read from -- on this and from all this to franceska chambers. people are hoping. what do you think? reporter: people are excited. you are absolutely right. it sent the dow surging even though the president didn't really say anything we didn't already know which is he plans to meet at the g-20 with xi jinping, that he really wants a deal, that china also really wants a deal and he hopes one can work out. that's basically where we have been for the past month. neil: let me switch to politics, if you will indulge me. i skip around like a crazy professor. the manual recount continues to go on in the florida

you the leaders of the prior bull market getting smashed and the leading stocks in the market are procter coca-cola, defensive issues like utilities, tells you everything that you need to know about the market, bearish and defensive and i don't see it changing any time soon and i stick with my stance. stuart: okay, well, you've been right so far, that's a fact. tell me about facebook, can you predict a bottom for it, it's down to 134 at the moment, way down this morning. >> here is the problem with the facebooks, apples and the rest of them, overowned, overloved and in facebook's case i must tell you that uses for millennials is heading down, as of yet i don't see anything that tells me to get in and you see the big money institutional is selling today, stay out of the way. stuart: big-money crowd almost has to get out to yield some cash for redemptions, it's like the internal workings of the market pushing big-tech down, that's what's happening, isn't it? >> that's why you have seen interest rates on the long end come down and that's why you see some very defensive recession-resistance a

week that the dow stocks hit all-time highs at the end of the week were coca-cola, mcdonald's, and procterere the money was. >> investors are going into starbucks and bill akman bought a stake recently. i was shocked by reading the goldman sachs report this weekend. they're predicting gdp to be 3-point a 5% this year -- 3.5% this year. in 2019, close to 1.5% for expansion. >> part of that is because we're having a fell on nail year -- fell on nail year this year -- phenomanal year this year. it's tough to keep that pace. it's harder and harder to grow that fast. >> the slowdown in the economy, does that impact the markets? >> that's what we've been seeing for the past month and-a-half, particularly going through q3 earnings, people are looking at 2017, it's on their radar and they're saying oh, wow, it's going to be really tough to grow faster next year. there's going to be slower growth. it's still super healthy. we're not talking about a recession or anything. it's just going to be slower and you probably want to be a little more cautious about where you put your money and maybe foes cus

facebook not commenting, shares of the company up 1.23 this morning, procter & gamble may have anotherblem, the company debut echo box which happens to look a lot like wine box but the new tide box is generating some buzz on twitter, this is what one user wrote, y'all don't want kids eating tide pods but when you make a wine box tide, what do you want from me? well, he was referring to the tide pod challenge last year when teenagers were daring each other to eat the detergent pods but would you drink the tide wine, i don't know, i hope that's not an adult challenge coming up. maria: this was a crazy story that they were eating the pods. lauren: looks like a wine box? maria: it does. >> i'm frightened right now. where do you think that stuff happens? maria: that's right. dagen: keg and not a wine box. maria: how petco plans to provide your dog with only healthy food, that's next coming up. i am an independent financil advisor. for our firm, it's about trust and transparency. trust that we do what's right for our clients, without the constraints imposed by the traditional brokerage house

these type of good -- >> procter & gamble. >> there's etfs for everything including this quality stylestarted a few months ago. it hasn't been since the market pulled back. it's about a -- about a percent advantage over the last month or so what's interesting is the message here if there's a message so all the things loeb was talking about. financial tightening, rates going up, companies with a lot of debt, companies dependent on fast growth, cyclical companies not in favor right now health care is up 11% year to date that's very much in line with quality. so the question is this kind of the market kind of hunkering down for something more difficult in more volatile markets. they tend to outperform. and there's just a lack of confidence that the cycle is going to have that >> what you're describing is a real shift in sentiment where we used to be conditioned to buy every dip. now you're talking about selling every rally? >> i think that's part of this i think it's much more about preference okay, if i'm going to be a buy and hold person, what do i want to hold for awhile if, in fact, i

think the stock's going to be a lot higher because financially it's going to look like coca-cola or procter>> a quick question. what are the of privacy regulation coming here that we have seen in europe and what would that do to their model? maria: that's the issue, yeah. >> i think they can live with the privacy regulation. we're going to see what it's done in europe. but i think that's a lot less problematic than the fact that the margins i think are going to be really hurt by having to make the employees whole and making the platform trustworthy. maria: you don't see a new regulatory backdrop as having to change the business model in any way? >> oh, i think there's going to be margin pressure, maria, but you're dealings wit dealing wity that has margins almost confiscatory. maria: you want to buy this stock, it's down 25% year-to-date. you're looking mostly at valuation and the quality of the company and you're saying look, the stock is now attractive where it's trading. >> yeah, there's only one caveat, maria. i would like somebody to buy it first. i think -- i don't know what the price

if you want to sell to apple, fine i don't want to sell into a company buy back procter & gamble, doesg to get away from the traditional hardware/software of guys who make up these numbers. i like what they did i understand people hate change. what can i say >> we'll see you in a few minutes. eamon javers, your report took 120 points from the dow. why don't you clarify. you know a lot more of what's happening on this. give us your take. >> let's recap, we had this report this morning that there was the possibility of i think the market took it as there was a anthropologipossibility of trh china. and that gave the market of a sense that we are much closer to a china trade deal especially when we had a tweet from the president saying things are moving along nicely. a senior official tells me it is not true that we are close to a deal with the chinese and there is a long way to go still in those negotiations that would square with what officials have been saying publicly throughout the week would also square with expectations in the washington circle that the chinese would not have any in

j but there have been places to go if you want to look at verizon, procter & gamble consumer staples- that's safety place. but rotating in there, they're not heading out of that like it was in 20 -- i have to wrap this up i don't like the state of player we go down, come back up a little bit. and then go down some more. this is a new low. we're down 517 point we just dropped below 24,500. 51 is that low down we go. more varney after this. our name. we are accountable to our clients everyday. we have the freedom to build a plan. a porfolio based specifically on their needs. we're fiduciaries, stewards of our clients' money. entrusted to do what's right. it's a mission. a guiding principle our firm lives by. . .t dvisor.com and all thro' the house. 'twas the night before christmas, not a creature was stirring, but everywhere else... there are chefs, bakers and food order takers. doctors and surgeons and all the life savers. the world is alive as you can see, this time of the year is so much more than a bow and a tree. (morgan vo) those who give their best, deserve the best. get up to a