actor ted danson, 20 nobel laureates and of course, david tepper ghxt we're here live with david teppernside this brand new tepper quad, mr. tepper cutting the ribbon on it and steve weiss joining us now i want to ask you a question about the markets before we get to the football stuff. the 10-year, is there a reason why the rates are staying so low, other than the fact that the central banks are still engaged, or is there an underlying economic fear we need to think about >> i think you had, just a, i think it's what you said already, a little bit of rates being low around the world i think that it's sometime the two markets are a little bit disjointed so sometimes the bull market is a worrier and they, it's like one person who looks at the pessimistic side of life and the other person looks at the optimistic side of life. if the stock market is looking at the optimistic side of life the bond market is looking at the pessimistic side of life the bond market is looking at maybe there will be 25% on tariffs. they were worried about emerging markets, a little more subtle today with the st

i think david tepper says it right. that's the tricky part of the market i think, also, take a little bit of the risk off. does that mean you have to sell out of a lot of the positions? he talked about trimming some of them up, scott on top of trimming them, the idea look at the volatility index. given the fact of all this news we're seeing hitting the headlines right in front of us real time had a small spike to the upside right back. here it is in the 12s. now this is an index recently popped up to 15, could not hold that level at all and then pulled right back. and here we are once again we were under 12 before the news came out so i think the better way to approach things now is, yes, you might want to trim some of your portfolio back like david did, and i've done some of it myself. we talked about this is the story in front of us so why not take some back but it gives the opportunity to buy as well and protect. and you're protecting at very low levels >> it really encourages investors to stick close to home, meanin

"power lunch" starts now >>> and tepper speaking with scott walker about the rally saying the stock market is in its late stages. so what do you do from here? >> a head of the fda sounding off on cnbc pointings finger at one manufacturer for fueling the teen vaping epidemic we'll tell you about the company. >>> and downgraded but still deadly, hurricane florence begins to pound the care cares we're live with the very latest. you "power lunch" starts right now. >>> i'm courtney reagan. stocks posting nicely at this hour major averages were high earlier, but backed off after president trump said there is no pressure to make a trade deal with china boeing helping to fuel the dow apple jumping. and microsoft hitting new all-time highs goldman trying to hold its longest losing streak ever, snap shares hitting a new all-time low. but amd rallying the stock trading above $30 for the first time since 2006. up more than 200% this year. >> i'm bill griffith this morning's market is rally petered out for a time dow up about 130 points. bob pisani, a whip saw day >> yeah, turkey raising rates to 24%.

tepper, back in 2010 as we . and nfl ownership.arolina panthers are off to a great 1-0 start beating the cowboys this past weekend. and we're going to spend some time with rob citrone of discovery capital. talk about the global macrobets and the emerging markets he has. very interesting stuff with that gentleman as well. see you in less than half hour, about 15 minutes can't wait, guys >> scott, it's going to be great. we had buffett a couple of weeks ago. who comes on and sort of talks about owning stocks 10, 20, 30 years from now, big, long, macro plays, tepper is one where if you're looking for tactical moves, moves within moves, that's where he really brings you value, right >> and you don't hear from him that often which is why we're so excited to get his views. he's one of those rare people, carl, who has the ability to move stocks and move the greater market yes, he is an investor, he's very tactical as you know. and as you just mentioned. we'll try to get his thoughts on all of that. what the best strategies are right now.

it's a great time, jim, to spend some time with tepper. >> i love tepper >> what the markets have doneince we last heard from him publicly it's an extended interview >> the dance he did at the panthers game? >> everything. >> well, look -- >> he's a great investor, he has dance moves. >> of course he raised our taxes by leaving jersey. >> we need more fantasy points out of cam for sure. >> that was a terrible game. just a terrible game the team they beat are the skins. i can't believe it >> i believe it. >> i want to know how david feels about taking a big swing at some group. he takes a big swing at bank of america and it was 50% lower which is the group he's taking the big swing at i want to know which is the one because that's been -- do you know how right he is >> but that's why he is who he is >> there aren't any big enoughs -- what would be something you would even think about taking the big swing is there anything big enough that's gone down you're not in a distressed environment for any sector >> what is interesting to your point, at least somewhat, facebook he has believed in

tepper both hope is even more than that.ommunity, to entrepreneurs in the pittsburgh areas we'll spend a lot of time with david tepper remember, it was the call he made back in 2010 where we call the tepper rally because the s&p 500 is up more than 160% since david tepper came on cnbc and said the fed was likely going to get involved and that in his words everything was going to go up which as we all know it mostly has over the last eight years or so. we'll talk to him about that and we'll talk to him about football adds well. that record purchase of the carolina panthers. nfl ownership, the anthem controversy, all of that as well, we'll see you at noon. looking forward to spending that extended time with david tepper today. >> looking forward to it goods to see you in pittsburgh scott wapner coming up. >>> coming up, an interview you won't want to miss verizon's new ceo hans vestberg joining david from the communacopia conference. quk t see wl be right back dove's gains have been cut in half, still up 90% don't go away. tod

david tepper is one of them.e admitted he has taken his stock positions down by perhaps about 30% or so. it seems like everybody is on what stage they think we are in. here is what he said >> if you ask me i think it's a late inning game i don't play the way the other guys play. those are all different. you know what happens some times? >> extra innings >> well, the real key to tepper and all investors is what's going to happen with the trade war with kline thchina. are they going to go into effect and what will the impact be and maybe force the issue on where we are in the cycle. sheer what tepper had to say about that >> it will make it a little bit tough on the market here going forward. i don't know if it's an ending question or not. it does get to where we should be i'm not saying we should or shouldn't. i don't know how that's in the market the other thing if we don't have it we will probably have the questions how fast will the economy go china is simulating. i think tariffs are coming it might have the fa

. >>> european stocks gain on hopes of renewed trade talks between china and the u.s., but david tepper warns it could lead to a market selloff amid the late stages of the bull run. >> if you ask me, i think it's late-inning game i'll say it a different way than the sixth, seventh inning. i don't play the way those other guys play. i could say it's the eighth inning, but sometimes baseball goes extra innings. >>> mark carney reportedly says a no-deal brexit could lead to economic chaos and a property crash. but jd whether spospoon's chiefs he is exaggerating >> poor old mark has not had much to do, he had to put interest rates up once and down twice in the last few years. he got everything wrong. >>> and the boss of the world economic forum says we have not moved on from the global financial crisis ten years after the down fall of lehman he says problems have only been postponed. >> we have found a way where we give, let's say, a whole mess, which we have created to the next generation to sort. >>> hurricane florence weakened to a category 1 storm as it closes in on the carolinas, but s

search one and done. . >> david tepper joins me for an extended interview we could not wait to talk toim about the state of the markets >> i emg >> microsoft. >> starbucks >> loved it. >> that's it for us. power lunch starts now >> about ig warning. excuse me. from the world's biggest hedge fund manager the east coast is shaping up the worst storm hitting that part of the country in 6 0 years over a million people now ordered to evacuate the carol a carolinas even into virginia we are live with the very latest and back from the brink. almost ten years since the financial crisis are we any safer now what can trigger the

retaliatory tariffs from china that could potentially raise prices we talk to andy dunn, and david tepper will be in for extended interview this thursday at 12:00 p.m. eastern time. that is a cnbc exclusive w up this isn't just any moving day. this is moving day with the best in-home wifi experience and millions of wifi hotspots to help you stay connected. and this is moving day with reliable service appointments in a two-hour window so you're up and running in no time. show me decorating shows. this is staying connected with xfinity to make moving... simple. easy. awesome. stay connected while you move with the best wifi experience and two-hour appointment windows. click, call or visit a store today. >>> a strong economy, high consumer confidence helping retailers including walmart, amazon, target walmart surging 12% in the past two months part of the e-commerce strategy includes an online retailer with physical show rooms it acquired last year. joining us, the ceo last i checked, you have some part of the supply chain in china. best of times, the consumer is strong, we don't know what's

if they don't guide down, though, then tepper will look like a genius. if micron cuts its forecast, i still think the stock goes lower. there is though a huge short position finally friday we get manufacturing purchaser managers index. i think the number will be strong that could push the yield on the ten-year treasury above 3% a key benchmark which we hit earlier today. that in turn would send the bank stocks flying. the cheapest these day something goldman sachs. they just announced an important reshuffling that could bode well for more rational cost structure and a more investment bank heavy ord table. given how gloomy the trading business has become, so here's the bottom line, we've got controversy galore flex week with lots of risks if you buy any of the stocks i said i like you need to leave room to buy more afterwards just in case they keep going down let's go to alex in new york alex >> caller: jimmy, a bit disappointed 0-1 to start the fantasy football season, boo-yah, baby. >> how can i help? >> caller: ltm, the largest carrier in all of south

when you get up at 2:45 in the morning you get your days screwed up david tepper is on today cdw broughtation to growing businesses across the city. increasing productivity like never before. which is amazing. unless you're a barista. cdw implemented a dell emc unity flash storage solution. keeping data available and people connected from anywhere. so lucky me. so nobody wants coffee? hey can i get a couple copies? increased flexibility by dell emc. it orchestration. by cdw. olay regenerist wipes out the competition; hydrating better than $100, $200 even $400 creams. with our b3 complex, beautiful skin doesn't have to cost a fortune. olay. . >>> there's a live look at wilmington beach, north carolina the rain is starting to fall the wind is picking up florence downgraded to a category 2 the concerns are still out there. >>> back to business and your money. janus henderson is making a big bet on your mortgage the firm launching a mortgage-backed security etf let's bring in john kirshner there are a lot of etfs for everything out there already there's a lot of etfs that passively invest in

see that pushing down to that level, you have to think, and i really did think when you were with tepper last week, judge, we were going to hear him say i'm taking a nibble here this is just too far, too fast a 25% drop out of one of the biggest tech stocks on earth even with the money they're spending >> exposure in stocks at large including facebook because of some of the uncertainty about trades and headlines around facebook over the analytica and privacy. >> and the spending they're having to do to meet those goals they've set for themselves >> we entertained the idea whether there was a mixed message of the market. if the economy is so good, if the data is so good, why do you have this more defensive posture to things. albeit today is not a defensive day, you have some industrial stocks, cyclicals playing the game today more recently what do you make of it? this mixed message of where we are. you're a fund manager. you have to make decisions >> is it really a defensive posture or a rotation into where there's opportunity and there's a ton of opportunity in the lower multiple stocks.

we are calling it the tepper take away.old me about stocks and what it means to investors. and a second sit down with david tepper on the tenth anniversary of the financial crisis. today, hear his reflections on that period, whether he thinks it could all happen again. and jon najarian in a few minutes. >> see you then. thank you. >>> we are outside the courthouse learning about new developments what can you tell us . >> reporter: sara, that hearing is still going on. manafort showing up in the courtroom in a business suit, a dark suit, white shirt, purple tie, hair neatly domed some speculation whether he might show up in a jump suit since he has been in custody for some time now. the judge did grant him that one benefit as he entered the courtroom. during the hearing part of the point of it is for the judge to determine that manafort is of sound mind and able to understand the charges against him. she said the point is for him to make sure that he is making a knowing and voluntary choice in this plea deal and in this coop

with cleanup under way, the new owner of the nfl's carolina panthers, david tepper, could be assistingin disaster relief efforts. the team's donation packa a $1 donation to the american red cross and $450,000 to regional food banks. >>> now to the battle against an epidemic. spammers calling your home and cell phone, non-stop, from phone numbers that look like yours or someone you might know. and soon, a report finds half of all calls made will be robocalls. and some critics say there is a fix available to stop them. so why is it not being used? here's nbc's kevin tibbles. ♪ >> reporter: a virtual explosion in annoying robocalls. estimated by next year, half the cell phone calls you receive will come from scammers. >> do you trust your phone? >> not at all. i don't ever answer it. >> reporter: telephone industry programmer, alec, shows us how easy it is for the robocallers to swoop in. >> you can call anywhere in the world pretending to be anyone else in the world. >> reporter: the industry has found a solution, stir/shaken, it's called. >> it's not a major change of the telephone netw

a lot to talk to with tepper from alepp news. "squawk on the street" is back in a moment.d a savings account with a great rate. but if that's not enough, our app helps monitor your spending too. and if that's not enough to help you save, we could start a carpool. look at this traffic. don't worry. ok, if that's not enough we'll start a trainpool. oh i have a meeting in five minutes. and if that's still not enough... i got it. we'll just create a shortcut. we'll do anything, seriously anything to help you save. ally. do it right. talking 4th quarter? yes. >>> anticipate -- apple shares ticking ahead. there's more pain ahead. find out why more "squawk on the street" right after this at fidelity, our online u.s. equity trades are just $4.95. so no matter what you trade, or where you trade, you'll only pay $4.95. fidelity. open an account today. >>> coming up later today on the "closing bell" we continue our crisis coverage. mervyn king will be with us. he was leading the bank of england during the crisis. affected more than 20 countries, even though it started here in the u.s

performance related pay will talk to our colleagues state side, that's the founder of appalossa, david tepper>>> stay tuned for an interview with former bank of england governor mervin king at 10:00 p.m. central european time. >>> hurricane florence is expected to strengthen as it approaches the u.s. southeast coast, forecast to make landfall on friday. the storm is on track to become the most powerful to hit the carolinas in more than three decades. the hurricane will be extremely dangerous through landfall and forecasts life threatening storm surges and rainfall will follow. president trump has declared a state of emergency in north carolina, south carolina, and virginia he has therefore committed federal resources to that storm response >> the safety of american people is my absolute highest priority. we are sparing no expense. we are totally prepared. we're ready. we're as ready as anyone has ever been. it looks to me and it looks to all of the talented people who do this for a living that this looks to be a storm that will be a very large one far larger than we've seen in decades. >> com

tomorrow do not miss david tepper on "half time.">>> this week marks ten years since the start of the great recession, the crisis of 2008. tonight in a new cnbc documentary andrew ross sorkin sits down with those who tried to save lehman brothers, also its ceo to see lehman's last chance slip away >> barclay's president bob dimon and his team worked through another night believing a deal is still possible. they're not alone. >> i remember coming back on sunday morning and first thing fed guys were optimistic, they thought they nailed things up. then there were a number of calls from barclays that they're having trouble with regulators we're getting nowhere. >> reporter: in a flurry of phone calls uk regulators say they won't allow barclays to guarantee lehman's trades. that, they insist, requires shareholder approval paulson makes one last call to his british counterpart hoping to save the deal it doesn't go well >> with the bank of the size of lehmans, if it was going to collapse, and there was every indication that it was, i wouldn

we'll talk to the former ceo plus david tepper will be on "the half" tomorrow, 12:00 p.m. eastern time for an extended interview. you do not want to miss that back in a minute >>> will you get your money back we hope so so the questions went on for a while and then it died down. and then harry reid was leading the discussion he said, remember, he said mr. secretary, mr. chairman, he said i want to thank you for coming down here and explaining this situation to us. he says, but i want you to understand one thing -- >> that was former fed chief ben bernanke talking specifically about aig tuesday and the reaction to that in a panel discussion with our andrew ross sorkin of andrew's document carry that arizoirs tonight at 0 p.m. eastern joining us tonight is brad, cfo of lehman, currently an adjunct professor of finance it's good to have you back it's been a while. >> thank you thank you for having me. >> thoughts on what you heard today and some of it was me mea culpas in terms of getting if not the policy response wrong, the politics surrounding it wrong. >> that's a questio

. >>> here to debate and trade, joe terranova, jon najarian, mark tepper is here, president and ceo, and chris bitterly is along as well, citi, head of markets for the americas good to have you with us on this wednesday. stocks are higher. we're trading the final days of the quarter. now one quite good for your money. you have the dow in the quarter up 9%. the best quarter since q-1 of '17, up month to date. this is where the action has been, the stralindustrials. >> what we've seen this month, unlike august when nasdaq was very strong up about 6% in august and this quarter, at the end of the quarter 2.5% on the dow negative on the nasdaq so one could say if you look at september that there's been a shift, but there have been more days in september than any month of the year where there's almost a 1% difference on a daily basis between how the dow trades and how the nasdaq trades. if this can continue, it would have to be bus earnings stay strong for these kind of multinational kms. they're not hurt what's going on with the trade talk or the dollar they can push right through that >>

we sat down with david tepper last week who said trying to figure out where the markets was going was tricky for the reasons we talk about. you take two steps forward on what is a really good economic story, and then, you know, some days it's one step back and some days it's three on this whole tariff in china issue. >> reporter: i think it's top of mind it's one reason for a little more risk aversion than you'd otherwise see. on the other hand i've been saying i don't think it will be the decisive swing factor for this market. it's unusual for the market to live with an issue for six or eight months and for it to be the thing that, you know, takes you down if it really goes the wrong way. on the other hand, look at the sectors affected and the global divergences you were talking about. no doubt it has something to do with relative dollar strength and the rest of the world suffering compared to u.s. stocks i see it as one of these ingredients. for a while i think that risk aversion was helpful because in january we were talking about overheating economy, is the fed behind the curve, w

an interview with david tepper that's tomorrow at noon eastern.quawk box" on cnbc we're back with christopher dodd in a moment. on the planet. ♪ hawaii is the first state in the u.s. to have 100% renewable energy goal. we're a very small electric utility. but, if we don't make this move we're going to have changes in our environment, and have a negative impact to hawaii's economy. ♪ verizon provided us a solution using smart sensors on their network that lets us collect near real time data on our power grid. (colton) this technology is helping us integrate rooftop solar, which is a very important element of getting us to our renewable energy goals. ♪ (shelee) if we can create our own energy, we can take care of this beautiful place that i grew up in. ♪ tap one little bumper and up go your rates. what good is your insurance if you get punished for using it? news flash: nobody's perfect. for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. switch and you could save $782 on home and auto insurance.

. >> well, work, i looked for tepper, love him dearly., but look, i've been following stitchfix and recommending it on "mad money." if you look at nvidia, that is priced for perfection. listen, be careful, but if you read the whole report, it's actually not that negative they're say priced for perfection if things are priced for perfection, they will come under pressure, because a lot of analysts say i want to ring the register i don't mean tore equivocating, but these are not dot-comes, they're really well-run companies. >>> why is the market rallies in the face of higher yields? >> the last group that led the rally were the financials. i think they can continue to -- ahead of what is beginning of reporting season i know wells fargo, obviously burdened by different issues involving their lawsuits, wells fargo having an excellent quarter. i know that jpmorgan is having an excellent quarter i do think this group has come on fire again after being hit by a downgrade of suntrust recently, which was really about, as we know, low growth slowin

mark tepper is with strategic wealth partners.guess it's always hard to get a technical reading on a stock when it's brand new. how would you view this trading of the past week or so >> i think the best thing to do is go back in history. and it tends to rhyme. it may not always perfectly repeat but when you look up a stacked up chart of tesla and nio here you can see your traditional trading really happens is where you get the pop you get the pullback now, tesla pulled back over -- so far nio's pulled back about 50%. tesla actually pulled back below the ipo price. right now for this stock you're going to have some further backing and stabilization as both buyers and sellers really start to understand the story here with the stock. so look for more of this kind of sideways consolidation but ultimately for it to move higher >> as far as the business goes, i guess being called the tesla of china can be a good or a bad thing depending on how you think of tesla but it's an early stage business with a huge potential market what do you t

david tepper tomorrow. "power lunch" starts now >>> welcome to a special edition of "power lunch. apple is kicking off a big product event right now, a lot of headlines set to drop the next couple of hours a trio of new iphones expected to be unveiled including a new high end model and plus a new watch. >> but the question, what will the new lineup fully mean for apple's bottom line and the stock in we have ever angle covered for you. >> and courtney mentioned the stock. take a look at how apple is trading right now. shares have been under pressure. the biggest loser in the dow this hour as a matter of fact, still that stock as everybody knows has had a great run so far in 2018. up roughly 20% on otherwise the major averages were hire all of them, they are not now, but there were reports that the u.s. is proposing a new round of trade talks with china. we'll have more on that coming up boeing one of the biggest gainers today adding more than 50 points to the dow all by itself >> and let's get out to jon fortt. what is the latest >> well, this is a big day and the presentation has