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tv   Power Lunch  CNBC  September 25, 2019 2:00pm-3:00pm EDT

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plus some other techniques >> i can imagine you making that pitch to investors you want your yield, you're going to get it from stocks. steve, thanks very much, appreciate it. >> that does it for the exchange today. thanks for joining me. see you on power lunch >> welcome to power lunch. we begin this hour with breaking news in just a few minutes we're expecting to hear from president trump as he meets with the president of ukraine this comes as the white house releases the official notes from his call in which some say president trump pressured ukraine to investigate joe biden and his son. it was something else the president said, comments on trade with china, sending stocks higher after a slow start to the day. take a look, shares of tobacco
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stocks philip morris altria, shares down 2% right now. we'll have much more on this story straight ahead as we mention, we are moments away from president trump meeting with the ukrainian president, hours after releasing those official notes from that phone call >> there is a sense that all sides are hunkering down for the battle ahead president trump up there in new york defiant this morning, he was adamant that those notes from his july 25th phone call show nothing improper. and in fact the president has his back >> the president himself just came out with a station saying there was no pressure put on him, and there wasn't. the way you have that built up, that call, it was going to be the call from hell it turned out to be a nothing call >> here on capitol hill. democrats have a very different interpretation of that phone cal.
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adam schiff saying, it was even more damning than he expected. >> it's shocking at another level that the white house would release these notes and felt that somehow this would help the president's case or cause. >> what those notes reflect is a classic mafia like shakedown of a foreign leader >> now, the question for investors, of course, is, what does this mean for the rest of the agenda, particularly trade a china deal could happen sooner than you expect. dangling out hope for investors there. >> democrats began their weekly press conference today, talking not about impeachment, but about the u.s. mca >> as mentioned, investors are focusing on the trade headlines today. >> kelly, we were fading early on, negative just after the open
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again those cyclical stocks declining as they have in the last few weeks the china deal may happen sooner than you think those are the magic words. we're waiting for some big ipo's this week, peloton all the implications of the wework mess may have on the ipo market a lot of the issues centered on governance issues. how much was being paid, how much the way the company was being managed, there's some people out saying, this may have a more balanced impact on ipo's going-forward. including environmental, social and governance this is a hot strategy dealing with relations of employees and stakeholders, leadership, pay. shareholder and voting rights. obviously the path to
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profitability is important, and that's the most important things these esg issues are becoming very important this was one of the hottest investments of the year. it's down 10% so far whether you're dealing with corporate governance issues, profitability issues, this is telling us investors are going to be a lot more discriminating, you see what's going on in the last week or so. just this week, smile direct is down that was doing really well a little while ago lifts at a new low slack at a new low as well >> bob, thank you. optimism on trade pushing the market higher today. brian gardiner director of kbw
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great to have you all here, victoria, i'll start off with you would think this would introduce a risk, the whole impeachment issue of risks we have the tlt, the bond atf down by 1.4% rates that are higher, we have the vics that are lower now. how do you look at this? >> it adds more uncertainty into the markets. that's going to feed through to consumer sentiment, the volatility we see. it's the fact that the president came out and hit the biggest thing in the market right now. saying we could get a deal sooner rather than later that's what's been lifting the market today. does the impeachment process add more doubt to the trade war? does it mean a president's more willing to make a deal sooner like he mentioned? we saw the deal with japan today that many people said was a
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light deal perhaps he's willing to do something like that, or does it make china stand back a little built. >> i want to go to you, brian about some of those issues china had on the impeachment idea. you said his re-election chances could actually improve in 2020 and this could be harmful to joe biden. >> i think politically there's a prospect of backlash against democrats. parties that are given these political opportunities often misplay them, overplay their hands. to biden in particular, to the extent this story stays in the press, it hurts him. because his opponents don't think are going to explicitly use it against him it's implied what's one of the great warren
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narratives the system is rigged the powerful and the rich have advantages you and i don't in that the biden's angle of this plays into the warren narrative i think it helps him, hurts her. at the end of the day, i think trump voters are going to rally behind the president they see the deck stacked against him. i think at the end of the day, it helps rally his troops and helps his election prospects >> does it change the landscape for you? >> investors need to start looking at that 2020 election event. it's on the radar. >> is it nixon or clinton. nixon, the time it started after the saturday night massacre, the market fell 20, 25% until the time he left office. when you look at clinton, it
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fell 20% before the process started but went up 25% once the whole thing got in motion. and i think that's because investors saw through it as maybe being more of a political fight than really something to throw a president out. if that's the way this turns out, i would say the direction we're going in the market is likely to continue we've got good momentum and sentiment just starting to turn a little more positive. >> i think that raises a good point. it matters, the context in which any impeachment proceedings happen the economy was weak, with clinton, we had a booming economy. and yet here we are. we are witnessing a global economic slowdown, and some softness here in the united states with that said where would you see the impact what direction would we go here. >> we are seeing a slowdown here domestically
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the consumers we talked about so much, the consumer is driving this housing is something we've seen as being a big boom for us housing starts, building permits hitting cycle highs in august. that's telling you recisions are coming for probably 18 months to two years. we're looking after the election to see a severe downturn happen. with that, we bought into housing. we've added to more stable products like kook we're looking through some of the noise, thinking the recession is going to come down the road and stay fully invested >> brian, just because we have this event coming up, you know, in terms of the president and the ukrainian leader meeting, what do you think investors should be watching for >> i think they should be keeping their eye on the
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regulatory agenda that remains on the track >> i wouldn't expect much i would keep expectations quite low. as a risk, i would be watching the progress or the lack of progress on the trade yield to replace nafta. i think the latest revelation with ukraine is going to shift sentiment on capitol hill, make it tougher to pass legislation to enact that. if that fails, then the president in the past has threatened to withdraw the u.s. from nafta that's a real risk to the markets, to the economy. as investors look down the road, i don't think they've looked at the possibility of getting out of nafta i would keep a -- i would tell people to keep an eye on that. >> brian, barry, victoria, thank you.
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>> the markets are climbing higher as we await president trump's meeting with the ukraine. there's the dow up 181 weluh lle ghback
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market is at session highs today, as we await president trump's meeting with president zielins zielinski. this comes on the same day of the release of those notes in july michelle ka bruce sew cabrera, john harwood and ayman javers. let me begin with you, ayman what are the expectations as we head into this event >> everyone's going to be looking at the ukrainian president here at this event looking for body language. the ukrainian president is now in a position to offer an enormous lifeline to president trump. if he didn't feel any pressure from the trump administration to deliver on joe biden
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this is a ukrainian president that needs military assistance and good will from the trump administration what matters is, ultimately, what happened. i think a lot of focus, these things typically, the focus is on the president of the united states, but a lot of focus world wide is going to be on the ukrainian president to see what happens. >> what do you think we should expect out of that ukrainian leader that's a lot of pressure on him, if that is the kind of response that made the president listen for as he sits there >> it is a lot of pressure on him. the transcript of that call that was released by the white house today is so plane. you do have the president putting pressure on zielinski to open and extend this investigation. not only with his personal attorney rudy giuliani
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he's roping both of them into this conversation into this idea of an investigation to damage his leading opponent in the 2020 campaign you had the zielinski saying we need more javelin missiles that's the military aid we've been talking about the president says, i need you to do us a favor, though and remember before the president had made this call, he had held up that aid. and it continued to be held up for a while. it's going to be very interesting to see how zielinski decides to play that since the words are now public for the president, i expect him to say that this is nothing completely appropriate even though it is not appropriate for the president to ask a foreign leader to investigate his president.
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we heard similar thoughts. at the same time, the white house decided to release these notes probably for a reason. how else could they be interpreted. >> they exonerated the president. they don't see any official quid pro quo in here. i think zielinski is going to be extremely solicitous in this news conference. he is very solicitous toward president trump from paragraph one. if he does, it will be big news. >> is there anyway for him to raise money at home? he's a relatively new leader he's a comedian, what might factors raise -- >> the establishment never saw him coming former comedian, former actor, was tired of all the -- no one in ukraine will be insulted when
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i say ukraine is very corrupt. he was tired of it the politics in ukraine go do down -- do you think ukraine should be aligned with russia or the west and he's very much about the ukraine being aligned with the west if that's part of the population, we'll be very supportive, i think, the other part of the population that thinks they should be involved with russia will not be. >> give us your thoughts here. we may hear from them any min e minute >> i agree with john harwood you don't need a quid pro quo for impeachment. there's a clear implied quid pro quo in that nontranscript. it's not a transcript. it's a bunch of notes taken by various people during the call i think at the very least that call was inappropriate, highly inappropriate. and democrats will take it and run with it, and probably use it
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as the basis for an eventual impeachment. president trump isn't going to be ousted by the senate. kabuki theater, and we'll get through it and we'll go on to the actual campaign. >> what were you going to say? >> ayman made the right point, the ukraine is under attack by russia they need that military aid badly. you asked about the political. >> sorry, john, we do see the president, president trump along with the president of ukraine at this bilateral meeting, let's listen in. >> thank you very much, everybody. we're with the president of ukraine. he's maybe more famous than i am famous he has a great reputation, very strongly looking into all sorts
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of corruption and some of the problems they've had over the years. they think it's one of the primary reasons he got elected his reputation it's an honor to be with you we spoke a couple times as you may remember i think the press would like to stay in the meeting, but we have likes of witnesses if you'd like to have it our country is doing phenomenally well. we have the best economy we've ever had we have the best employment numbers we've ever had. we have almost 160 million people working, which is more than we've ever had. i have a feeling your country is going to do fantastically well >> thank you very much, mr. president. thank you very much. it's a great pleasure for me to
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be here. it's than to be on the phone [ laughter ] >> mr. president, thank you very much i know that you have never been in ukraine you're the predecessor, how to find time. can you give me a word that you will come to our great country >> i am going to try i know a lot of people -- i know a lot of people from ukraine, they're great people, and i own something called the miss universe pageants years ago, and sold it to ing when i ran for president, i thought it wouldn't be the greatest thing to own the miss universe pageant we had a winner from ukraine, we had -- we got to know the country very well. it's a country with tremendous potential.
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>> i know it i am in that country i want to thank you, for in addition to washington, you invited me but i think -- i'm sorry about -- i think you forgot to tell me the date i think -- >> they know before? >> i want to thank you to thank you, mr. president to usa, your government. like i said, i know many people, many places might bring up -- thank you for your support botswana with corruption but we'll be weaker in this i'm sure and the priority, my priority to
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stop the war on the bus to get back our territories thank you for your support in this case. thank you very much. >> thank you very much >> if you remember, you lost crimea during a different administration, not during the trump administration >> you have chance with help us. >> that's right. that was during the obama administration you lost crimea i think it was something you should have, that was done a long time ago, and it was handled poorly it's just one of those things. one of the elements we discussed is the united states helps ukraine. i think other countries should help ukraine much more than they're doing in germany, france they should help you a lot more. i think maybe together we'll work on that, they have to feel a little guilty about it, they don't do what they should be doing.
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you're very important to the european union strategically very important i think they should spend a lot more in helping ukraine. they know that also, and they actually tell me that, but they don't seem to produce, i'm sure you'll vote for them, and i'll certainly be talking to them >> thank you very much, mr. president. i want to tell you that we are not alone in the new country i'm sorry, but we don't need help, we need support. we thank everyone in the european countries we also want to have more. but i understand only together america and eu only together we can stop the war, and we are ready -- we just want to tell,
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we are the biggest country in europe we want to be the richest one, the truest in my heart. >> you have great people in ukraine, and very talented people, in terms of some of the things they do, and will be doing. we're doing trading already. you're very talented people. they make great things at the stoop of the line. you actually have over the last fairly short produced time you have made some progress with russia, i hear a lot of progress has been made, and keep it going. it will be nice to end the whole disaster >> the relationship with russ russia -- i want world to know that now we have a new team. a new power, a new government.
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so now we have 74 new loans which help for our new reforms refo reform we launched the fairest sek sequiter the anti-corruption court, it began to work on the fifth of september. after five days we had the new number so we are ready. we wan the to show that we just come and if somebody -- if you -- if we want to -- just
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let's do -- we have many cases where we're in. >> and stop corruption in ukraine. that will really make you great. that will make you great, and it will also be so tremendous for your nation in terms of what you want to do and where you want to take it. thank you very much it's a great honor. >> thank you very much >> have you felt any pressure from president trump to investigate joe biden? >> i think you read everything i think you read text -- i -- i'm sorry, but i don't want to be involved to democrat ic open elections of usa we have, i think good phone call, it was normal, we spoke
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about many things. and i -- so i think when you read it, nobody pushed me. >> there was no pressure >> mr. president, do you -- >> you know what, there was no pressure and you know -- by the way, you know there was no pressure, all you have to do is see it, what went on on the call, you know that but you can ask me questions and i appreciate the answers. >> president zielinski -- >> would you like president zielinski to do more on biden? >> no, i want him to do whatever he can this is not his fault. he wasn't there. whatever he can do in terms of corruption, because the corruption's massive when biden's son walks away with millions of dollars from ukraine and does nothing and they're paying him millions of dollars, that's corruption. when biden's son walks out of china, with $1.5 billion in a fund and the biggest funds in the world can't get money out of china, he's there for one quick meeting and flies in on air
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force 2. i think that's a horrible thing. i'm going far beyond that. i know the president -- and i've read a lot about ukraine, i've read a lot about a lot of countries. he wants to stop corruption. he was elected, number one on the basis of stopping corruption, which unfortunately has plagued ukraine. if he could do that, he's doing really really the whole world a big favor. >> on rudy giuliani, why do you think it's appropriate for your personal attorney to get involved in government business? >> you would have to ask rudy. i will tell you this, that rudy's looking to also find out where the phony witch hunt started, how it started. he had a russian witch hunt 245 turned out to be 2 1/2 years of phony nonsense rudy giuliani is a great lawyer. he's highly respected. i've watched the passion he's had on television over the last few days, i think it's
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incredible -- he wants to find out, where did this russian witch hunt that you people helped perpetrate, where did it start? how come it started. it was all nonsense, it was a hoax it was a total hoax, it was a media hoax and a democrat hoax rudy's got every right to go and find out where that started. and other people are looking at that too, where did it start, the enablers where did it all come from it was out of thin air i think he has a very strong right to do it he's a good lawyer, he knows exactly what he's doing, and -- >> do you believe the emails from hillary clinton, do you believe -- do you think this whole thing -- >> i think the 30,000 that she deleted? >> yes. >> i think they could -- that was a nice question, i like that question because frankly i think that one of the great crimes committed is hillary clinton deleting 33,000 emails after consent her a subpoena think of that, you
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can't even do that in a civil case, you can't get rid of evidence like that she deleted 33,000 emails after -- not before, after receiving a subpoena from the u.s. congress. i mean, i've never heard that. she's done far worse than that, i don't know how much worse it can be there were many other things that she did wrong that's so obvious. she gets a subpoena from the united states congress and she deletes them, then she said as i remember it, they had 33,000 emails about the wedding and yoga the wedding of her daughter. i don't think so how she got away with that one is -- it's one of money. and it's corrupt government. because we have corruption also, mr. president, we have a lot of corruption in our government, when you see what happened with hillary clinton, when you see what happened with comey and mccabe and all of these people we have a lot of things going on here too hopefully it's going to be found
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out very soon. i think a lot of progress has been made. a lot of progress. >> mr. president -- >> it will continue in the future >> we're working with ukraine, we want other countries working with ukraine when i say work, i mean money. we put up a lot of money i gave you anti-tax busters, that frankly president obama was sending you pillows and sheets i gave you anti-tank busters a lot of people didn't want to do that, i did it. i believe president putin would like to do something, i hope you and president putin can get together and solve your problem. that would be a tremendous achievement. i know you're trying to do that. >> mr. president, did you ask the house speakers -- >> i think -- no, i haven't. but i think this i think that somebody if you look at what he did is so bad.
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>> he goes to ukraine and walks away with $50,000 a month and a lot of money in addition to that he's on tape, this isn't like maybe he did it, maybe he didn't he's on tape doing this, i saw this a while ago, i looked at it, i said, that's incredible. i've never seen anything like that, now, either he's dumb or he thought he was in a room full of really good friends or maybe it's a combination of both in this case. >> mr. president, do you -- >> i thank you very much i mean, we have independent country and independent general security i can't push anyone, you know. that's it that's the question, that's the answer, i did call somebody, the new general security i didn't ask him, i didn't push him.
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>> does he make promises -- >> sorry >> obligated to do what? [ speaking foreign language >> how is this not -- >> the issue -- [ speaking foreign language ] >> i can -- [ speaking foreign language ]
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>> you want to just -- >> the investigation, actually, i want to underscore that ukraine prosecuted highly professional men in history to investigate any case they consider to profit we have many more issues to tackle we have corruption cases as president trump likened, so woe know what to do, and we know where to go and what to tackle >> mr. president, do you -- involved in this matter. >> president zielinski >> did you ask house speaker nancy pelosi to find a way out
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of impeachment today >> not at all. she's lost her way, she's been taken over by the radical left she may be radical left herself, she really has lost her way. i spoke to her about guns yesterday. she didn't know what i was talking about. nancy pelosi is not interested in guns, gun protection, gun safety all she's thinking about is she's been taken over by the radical left you take a look at what's happening in the media today the whole party is taken over by the left and thank you very much. my poll numbers have gone up when they look and when you see what's happening, people are really angry at democrats, they're really angry at the democrat party, and things like -- as an example, drug pricing, getting drugs down, things like gun safety, inf infrastructure, the democrats can't talk about that, they've been taken over by a radical group of people, and nancy pelosi as far as i'm concerned, she's no longer the speaker of the house.
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>> mr. -- >> thank you very much >> what's the attorney general's involvement? anything on that, sir. >> thank you >> thank you very much >> the bilateral meeting between president trump and ukraine's president just wrapping up what a feisty exchange it was. let's get our panel to react, we have michelle caruso cabrera and ayman javers standing by let me go to you, ayman are with the headlines which come from the ukrainian president when he described the call as normal and said nobody pushed me. >> i think that was the lifeline saying, nobody pushed me but you also heard the ukrainian president using humor there as a former comedian. but also pushing for his diplomatic objective here, he wants a back to back meeting
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with president trump he wants to be able to go to the white house and have a white house visit himself. he was pushing there for that exchange of visits and you get the sense politically he might get what he wants from the white house, boy did he give that lifeline we were looking for saying the call is totally normal >> michelle, as you said, talking about how he was likely to be solicitous >> there's zero chance he was going to throw president trump under the bus. >> does that mean he's going to gloss over the remarks >> i don't think so. i think you're going to hear people say, well, of course, he had to say those things. he's trying to get something from president trump, why would you undercut president trump, when you're trying to achieve a number of objectives in the interest of ukraine. what i saw there more than anything was, i believe part of what's happening here is there are elements to the democratic party that want to destroy joe biden and they want him off the ticket every time this comes up, you hear president trump talking about joe biden.
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talking about corruption with hunter, this is by design the far left, they don't want to see him on the tickets, look at this, we get a two for here, we get to impeach president trump and joe biden will be hurt by this >> the democrats can't really talk about things like bringing drug prices down their platform has been hijacked by this very issue i want to go to you. when you take a look at how this political chess game plays out do you see that this harms joe biden and influences the 2020 elections in that way? >> well, i'm going to use both my hands as an academic. as your panel suggested. i think certainly the left wing of the democratic party will try to use this against biden, and he's already slipping in the national polls and in the key state polls. but there could also be a counter reaction that is a rally around the flag
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evictffect for joe biden. he's being attacked by donald trump. democrats may say, i'm going to support him, he's clearly the one trump doesn't want to run against. you never know if i can make one other point, this is all going to come down to what we've seen for the last three years, which is democrats are furious at trump and are pro impeachment and believe every charge that's made, and the republicans refuse to believe any of the charges they will back up president trump 100% and when all this is over, assuming it's months before the election, you're going to find the same two coalitions. democratic and republican not that many votes will change. >> so net-net no effect, larry, is what you're saying? >> yes essentially yes. >> john harwood, do you disagree with that, especially the analysis that says this takes joe biden out. a candidate who is still the most likely of the democratic field to have broad appeal for
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the 2020 election against trump? >> well, i disagree in part. first of all, joe biden as larry indicated, has many problems aside from this issue. on the substance, there's no evidence that joe biden did anything wrong in that sense, i don't think that's likely. he has elizabeth warren coming like a freight train who is catching him in national polls and as larry said, in state polls. yes, the far left wants to beat joe biden, but i'm not sure how much help they need on that at this point i do think that it is possible that this set of circumstances is going to be damaging enough to the president that not only will he be impeached in the house, that some republicans will break with him in the senate we've seen signals of that from mitt romney saying he's deeply troubled by what he's heard. i think the strategic silence of a lot of other republicans indicates they're not sure how
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far to go out on that limb for this president in terms of the president, what we saw him was turn up the fog machine on full blast. hillary clinton's emails and the biden thing, because the plane words of this transcript -- he did and i think it's damaging, and his response is, go 100% at democratic opponents >> at the same time, here we are sitting at the market session high we have a little bit of furthering weakness in the bond market with yields going a little higher. all in all. >> yeah, nancy pelosi said she was going to consider impeachment. we saw the market fall, not much i think once you saw this memo transcript, whatever, the official description of, it's
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not an official transcript, you saw the market rise add well i would say if you thought there was going to be a trade deal, you would have a much higher market as well the market doesn't necessarily believe it any more, we've been there before, and it hasn't happened >> thank you, everybody. michelle caruso, larry harwood and ayman javers. what will philip morris and altria do now?
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(classical music playing throughout) i'm not really a, i thought wall street guy.ns. what's the hesitation? eh, it just feels too complicated, you know? well sure, at first, but jj can help you with that. jj, will you break it down for this gentleman? hey, ian. you know, at td ameritrade, we can walk you through your options trades step by step until you're comfortable. i could be up for that. that's taking options trading from wall st. to main st. hey guys, wanna play some pool?
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eh, i'm not really a pool guy. what's the hesitation? it's just complicated. step-by-step options trading support from td ameritrade welcome back to power lunch here philip morris surging after the two halted talks >> the focus of lawmakers today was understanding the mysterious lung illnesses and sickened more than 500 people and killed 9 and the epidemic of youth use. dr. ned sharplet outlined the current steps the state is
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taking second it's plan supported by the president to effectively remove flavored products from the market which he says appear to be particularly appealing to children many analysts pointing fingers at the scrutiny -- cnbc sat down with howard lillard this morning and addressed that question. >> i think juul is committed to building on the actions they've already taken. and i think the fda is taking action today >> i think that's important to secure the future success of the ebay category and juul >> juul plans to submit a legislation. importantly, what these companies have to show, is that their products offer a net benefit to public health back over to you >> thank you
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what does this mean for eichos frank? >> good afternoon, melissa eicos will be held soon. they use an electronic device to heat smaller sticks that look like cigarettes, to release the nick taken as opposed to burning it at that time, the products bro deuce fewer levels of some toxins than combustible cigarettes eicos is sold in 40 other countries and is not facing any scrutiny that e cigarettes are sales of traditional cigarettes have fallen by 2% there's a lot of belief that the recent concerns could help the adoption
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of eicos here in the u.s >> do analysts feel eicos is more valuable today? >> most of the notes i've seen really talked about the combined company being able to offer a complete portfolio of noncombustible products. it's not clear what philip morris and altria's partnership will be able to yield. i think in general the landscapes are looking to cha e change getting a boost as president trump says a trade deal with china could haenpp sooner than later. power lunch will be right back
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steve, great to have you with us. we have somewhat of a sell-off in bonds tlt, vix trading lower
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what do you attribute this to? >> rushed to judgment as the democrats also rush to judgment. market weighs in saying even if the democrats can get to that 218 number to impeach, it goes nowhere in the senate. just as your previous guest had said, this is a lot of political posturing. i don't see anything leading to anything that will involve the market steady as she goes as long as she grinds higher, we grind higher for the bulls. >> if one believes that this will actually wound joe biden and increase elizabeth warren's chances, does that increase the risk to certain sectors such as health care? >> yes i think it's a little too maybe dominos to look down, but i agree with the premise democrat democrats, joe biden should look over his shoulder. he has the most to lose on this. elizabeth warren has the most to gain i'm even shocked that they're even going on with this because trump will go full bore at joe
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biden if this process gets longer in the tooth than it already is. >> do you believe in this move in the financials? >> i've been betting against the financials, and that's the exact reason why it's been doing better, and maybe because housing has been doing better. the rush for mortgages has been doing better lower rates for a while, added to that housing story. now higher rates is going to add to the banking story they're weaving that needle not too high, not too low just right. >> lastly, we're expecting another news conference by president trump later this afternoon around 4:00. how are we positioned going into that, do you think how do you think the markets will do, going into the closing bell >> we're less than 2% off the all-time highs of the even
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though we're grinding sideways, the market will make a new all-time high sooner rather than later and the market will be substantively higher than it is today. that level on the s&p cash, 2979, my bold bear barometer, first level of support from all-time highs watch that level if we hold there, that's the indication that the market wants to go higher. >> good to see you, steve. >> good to see you. >>on d't go anywhere because check, please, is next of trading goods and services. nasdaq operates among the largest markets in the world. and our technology powers markets from indonesia to chile. great markets are built on a foundation of trust and integrity, forged through leading edge technology and a smart regulatory framework. as technology advances, regulation must keep pace to allow the markets to evolve. today we see an opportunity to modernize regulation, to make markets more accessible to investors
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deidre has highlights for us. >> kelly, besides its upgrades to fire products we did, indeed, brought alexa from outside of the home and into the world if it wants to compete with google assistant. we were expecting ear buds we got them. they're called echo buds they're going to cost 130 bucks, less expensive for many of its competitors. there were also experimental devices amazon is calling day one edition. stuff that's not quite ready for mass release the echo loop is a smart ring with a tiny microphone that apparently gives discreet notifications via vibration. there's also echo frames, glasses you can get with
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subscriptions. now, kelly, all of these devices are tethered to a smart phone. i spoke to amazon's chief of devices, david limp, and asked him if we would ever see a mobile alexa that truly operated on its own, not reliant on an apple or android phone he said he would never say never but they do have expertise in those kinds of devices kelly, i also asked him since the price level is below its competitors if they're making any money. he said their aim is to not make a lot of money but also not to lose a lot of money. back to you. >> deidre, thank you we got news out of power lunch friend, buying steakhouse chain del frisco's, adding to the landry's empire, morton's as
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well as strip house. >> especially after what he told us about wanting to have dry powder to make acquisitions. we spent a lot of time in that del frisco's when i worked midtown. >> i guess the time is right thank you so much. >> "closing bell" starts right now. that stock up 6% markets rallying two, s&p up 0.6%. >> welcome, everyone i'm sara eisen 59 minutes until a live news conference from president trump after the white house released that log of the call showing the president asked ukraine to investigate joe biden. trade deal could happen sooner than expected. data beats with yields as well what e


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