Welcome stocks are surging dow is up nearly 500 points. S p 500 climbing back towards record territory were just about 3 below record highs and the nasdaq jumping almost 2 of the session check out the retail rally Department Stores like macys nordstroming and lulu lem hn that stock is higher well have more on those moves later on weve got the angles of the big rally covered. Seema at the new york stock exchange, eamon javers at the white house where optimism spurred this rally and Steve Liesman on the year of the right cut. We start with seema. A triple digit rally for the dow as u. S. And china trade officials confirm a meeting frg october. The s p 500 is back above with a 1 gain. For the week, the dow is up about 1. 4 being led by banks and industrials. And if we dig into the financials, youll see the big banks like citi and goldman are up about 1 to 2 2. 6 for goldman industrials that initially sold off this week on fears that a meeting would not take place between the u. S. And trade officials are now all higher and whats also helping is a weaker dollar. Its down about 1 in the past three days, which is good news for multinationals that do business overseas. Now both the dow and s p 500 are about 2 away from their respective all time highs hit back in july the nasdaq is about 3 away from high and as to whether we can get there, it comes down to the jobs report. Tomorrow, the fed meeting in mid september and the trade talks to see if we can get progress as we mentioned todays rally being fueled by hopes for more productive talks with china, lets get to eamon thats right. They are saying here that theyre taking a wait and see approach on those trade talks with a the chinese that mirrors what aides say the president s own personal approach is to this. Then with an eye toward perhaps a higher level meeting in october at the lower level meeting takes place this month so one of the areas where we can expect to see the china conversation happen is in the oval office today. The ceo of General Motors is here today shes expected to be in a meeting that is according to the schedule, going on right now here at the white house. Aides tell us that will be a wide ranging conversation. We expect that china will be among the topics there are a couple of other topics that we expect them to discuss including the trade agreement with the u. S. And mexico fuel economy regulations then of course the president is always focuseded ond jobs announcements. Anything that gm might have coming up that the president can point to politically to say his Economic Program the working of course all of this ahead of 200, a lot at stake for that meeting. Well bring you the details. Thank you very much all right in addition to trade, the markets digesting a new set of data putting recession fears on the back burner ahead of tomorrows jobs report here to break down the numbers and eck plain what it could mean for the fed, Steve Liesman most of the data today coming in on the upside and really worked against those fears of a recession that are out there adp up 195 more than expected and greater than the expectation for jobs. J jobless claims, 217, but still in a range that says the job market is is healthy productivity, second month in a row of above average productivity did slow from the first quarter. Contradicting the ism manufacturing. And theres the Services Number, which is a big chunk of the economy. 56. 4, better than expected lets talk about atale of two economies. I have here the ism manufacturing, whos dip below 50 caused a 400 point decline this week. Against the ism services let me tell you, this gap between the two is a 13th largest that i could find going back to 1997, which is 266 months please write that down in pencil at home. Manufacturing is going to be more affected by the strong dollar than services will be two other times weve had a wide gap like this. Another big gap came ahead of the recession 2000 in 2015, it was a growth slowdown the outlook for fed rate cuts did react to the better data by reducing probablyties not of the rate cut of september, but the chart fell melissa just got a chill i was still pondering the i thought you were scared well be done in a minute here 71 chance earlier this morning of a rate cut in october thats fallen to 57 and then right around the 50 end for a rate cut in december thats now just 37 . So baking out some of the cuts here and the outlook for the fed is going to react again tomorrow at 8 30. Expectations are for job growth of 150,000 a hotter number could dial back expectations and thats not it because markets get a chance to react again when jay powell speaks in switzerland at 12 30 p. M. Eastern time. So in terms of the gap between services an man f manufacturing, you said you found 13 times where the gap was larger, but only to of those times led to a recession one episode of the gap. And one growth. Right so two out of 13. No, no. The 13 the 13 is sort of bulked together. There were four, five big numbers together when the gap opened up essentially. You can see it opening up there. Like ten, 11, 12 a bunch together that came before 2000. It was a good recession indicator then not in 2015. Could have been an oil related ning 15 and 16 we have a piece of that in here. A lot going on for manufacturing. Not affecting the Services Sector that badly. Some of the stuff nsds the Services Number not that great today. But 56 is a good and solid number it is and steve stay right there with those markets on rally mode is wall street just falling for false hope once again . Lets bring in hugh johnson. And ceo with whittier trust. Hugh, who are you trusting manufacturing or the rest of the economy here im really trusting both. But i think steve really hit the nail on the head i still think were headed towards a recession or a bear market that will be accompanied by a recession this has been a long bull market the longest in history trees dont grow to the sky. So sooner or later, thats going to happen and i have that again sometime like in june, mid 2020. But between now and the end of the socalled bull market, we could have some fireworks on the upside i think part of the reason for that, you know steve hit the nail on the head is that we ask yoursethe questis there going to be a recession. There are other numbers that say no the real key is the Services Sector is the Manufacturing Sector of the economy which may be in a recession going to drag down the Services Sector and the answer to that question with those numbers we saw this morning as well as employment numbers, but the most importantly, that nonmanufacturing pmi is no not being crdragged down and thats 90 of the economy. So it looks as though the case for a recession got weaker the case, the need for many rate cuts by the Federal Reserve certainly got less but hugh, youre still im going to turn to sadeep here in a second, but youre still expecting a recession come 2020 and the main thing as i read it that you are concerned about is the socalled inversion of the yield curve. How worried are you about a, the inversion of the yield curve and whether or whether or not it predicts a recession well, this inversion of the yield curve is different of course it contains information about future growth and that is admittedly slowing down across the globe driven by weakness in manufacturing. But there are at least two or three other factors that are depressing longterm bond yields globally Central Banks outside the u. S. Are still engaged in qe. The outright pushes prices up. Yields lower people are fretting and theyre worried, so theyre fleeing and hiding in bonds and the cost of safety of this protection has also gone up a lot of risk has come out of this system. Inflation expectations are lower. This Economic Cycle has been so stable, elongateded and long, its not extremely volatile so risks premium have come out and these are factors that are contributing to the inverlgs version of the yield curve and they dont say much about growth theres a time of the year when the sun shines and the air is cool. Were kind of there now. L tell you why the market today, i dont know about tomorrow, is enjoying the best of both worlds. Strong economy and a belief that the fed is going to cut rates. And a belief there may be a trade deal great point, tyler. If you look at what the tenyear has done today, i wonder if the traders in the bond pit were not talking to the traders in the stock pits trade ers in the bond pits both rere deuce the chance of rate cuts in the outlying months because of the Strong Economy and they raised the, the chart is today you went up from a 150 area to 156 or so. Which is six basis points. Pretty decent move now Rick Santelli, my good colleague from chicago, paused the theory today that maybe next week, the market doesnt geg everything it wants from draghi in terms of whatever it takes. Maybe they get some of what it takes. Takes the pressure off the fed. Then maybe powell sticks to his mid cycle adjustment so i guess the question is is if youre going to price in better economic data, you also have to eventually price in a little bit less from the Federal Reserve. And that works, too hugh, well give you the last word translate this into how you think investors should be positioned now in a bull market, rates are going to go up some. The Federal Reserve will lean towards restraint, but the point is the message of the bond market today is that were not going to need three cuts in the federal funds rate the economy will be good enough particularly because of the Services Sector. Hugh, hugh, does the stock market hear that message yes it does. And what you also have is not only a stabilization, maybe even a rise in rates and we boenwon have the cuts we need from the Federal Reserve, but thats in response to an economy which turns out to be a little bit better than we expected, which means earnings will be better than expected. Ordinarily in a bull market, you have Interest Rates going up, earnings and stock prices going up in other words, what happened today is very symptommatic of a renewal of a bull market again, this is the late stages all right i think youre going to have to throw that out the window. That recession you know, you keep kicking that can. I know we have took into consideration but steve i want to ask you this because it seems like the market has believed what it wants to believe and has done that for a long time and the bond market then comes around to the stock markets thinking when it comes to rate cuts i dont think theres anybody out there that watches that relationship more closely than you do, melissa, and i agree the bond market can go further than the warranted but in general, it tends to be ahead of where which means the its the smartest kid in the room it likes to think of itself as the salier of the two i think were off sides at this point my outlook has been along not much different from the feds. For 2 growth. I think the recession fears have overblown. In which case, the bond market might have gone too far. And the idea weve had this furious rip this morning, a generationally historic bond rally. And the idea that somehow it wont back up and retest where it was before, well thats just not understanding the way markets work steve, thanks pleasure. Thank you both as well. Appreciate it very much. Pleasure. Lets go to Rick Santelli who is back at the cme i know you heard this. What do you think . It was a great conversation ill add a couple of things into it fed fund futures, which are a snapshot and then after that snapshot, they dont really mean as much. Its a moment glimpse of a reality. If i look up, it is selling off and it sells off deeper as you go further down the calendar what does that mean . When you sell fed fund futures, you lower the possibility of easing or how many or the intensity of the one thats built in thats important on a day when you have good data and a lot of stuff going on quickly, august 1st started two year note yields theyre starting the grab basically off of cycle lows. One week of tenyear also just two days ago, we hit the slyke l low and its up double digits. Finally, the two heroes. The long end intraday of u. S. 30year the highs, 209 four years since 201 that was the all time low. We violated it in august we come right up and retest it and finally the biggest 30year trade of the day is going on in europe theyre two day chart jumped 15 basis points overnight and i dont think it was for nonmanufacturing ism you have strange things going on with Central Banks especially ecb better data in the u. S. And the most important thing, the bond market used to be smart like your discussion, but the signals are broken hard to get your gps between stocks and the fixed income market back to you. Our producer paul wants us to do this quickly. How far could the tenyear back up whats the resistance level at the bottom there or at a higher yield . Ill tell you what. If we closed above 209 before a tenyear yield closes under 137, i think we could have 25 basis points additional upside in both maturities quarter point higher. Quarter point higher but you have to close above 209 in 30s before you close below 137 in tens. Thats the game of chicken on the long end rick, thank you very much steve, thank you as well coming up, the bears, well theyre getting trounced on wall street today the dow is up nearly, exactly 400 points what about that. Will the bears do any wetter against the packers tonight . The nfl season kicks off on nbc and mike is about to join us from chicago but first, lyft shares down 35 since the ipo. Up next, well talk to an analyst who thinks the bottom is in lbe with us wel right back. Do you have concerns about mild memory loss related to aging . Prevagen is the number one pharmacistrecommended memory support brand. You can find it in the vitamin aisle in stores everywhere. Prevagen. Healthier brain. Better life. Welcome back we were considering slashing its valuation target in half ahead of its highly anticipated ipo. Thats according to report iing from david faber who joins us from 30 rock with the details. Hi, david. Perhaps not that surprising given at least the initial reaction to the one when it came out in terms of concerns amongst investors about valuation, the Business Model and even about governance we work for the we company as its now known, is trying to address any number of things inclutding governance. Its added women to the board now. But it come down to the idea of wlingness of investors to take on this Business Model and believe in it. Thats proved to be more difficult. As ive been reporting today and others as well it doesnt appear theres demand at the 25 billi 25 billion leve this ipo more likely, you get closer to the 25 billion level. Overall, valuation before you start to see people who are willing to believe weve heard this, even in the last few days, from a number of real estate executives including sam who was on squawk box yesterday talking about this Business Model of leasing space and releasing it and wondering whether in fact during a downturn it would be able to with stand the pressures that would take place heres mr. Zell yesterday. Ive had the privilege of investing in this kind of company once before. As a matter of fact, this kind of Company Began in 1956 with a guy named fijan who went there then subdivided it every single xacompany in this space has gone broke still look for this guy fijan by the way it goes to a lot of concerns many people raise. Yesterday, isa had a conference. Similar sentiments from them that said, the most important investor so far in this company has been soft bank include uing this high of 6 billion this year thats been reported as 47 billion value. I spoke to the man who runs soft bank bank this spring and he did discuss while he feels its going to work as investment. Growing so quickly and theyre investing into the cap ex right . But its a recurring revenue ongoing, recurring like a subscription. You know the subscription of magazines or newspaper and now netflix. Netflix is still losing money but the value of the companys tremendous compared to other companies. And so there you at least have some sense. Now of course he does figure strongly into what is going on surntly. Others reporting that theres a consideration at least in terms of trying to get another corner stonement from soft bank to help under gird what it would be in terms of when they come to the Public Markets or whether theyd be willing to write another check to allow the company not to have to go public in the near term well see where it all plays out but from soft banks perspective, interesting as they try to enter the market for another vision fund. The fact that theyre under water so far on their uber investment and the we Company Given this valuation were talking about may make it more difficult for them to raise those funds. All right david, thank you very much sticking with struggling ipos, lyft is down more than 30 , but Deutsche Bank out with a new note saying to buy now because the worst could be over. With us now is the analyst behind that call lloyd, great to have you with us thanks for having me. The timing is interesting giving the 85 gig economy bill in california which is looking like it could pass just got the governors endorsement a day or so ago. Theres increasing concern about this become law and perhaps paving the way for other states to adopt the same legislation. Why is that not a big deal for lyft. Yeah, so we think its been a big concern among the Investment Community and its overblown for a number of reasons. For starters, even if the deal passes, already the existing law in california. So they are required to classify their drivers as employees. And if they go ahead and do this move, we think cost the pretty limited. They can pass along a lot of that to the end user they can reduce pay in other areas like paying drivers during surge pricing times. If theyre employees, they can have them where they need them without surge pricing and ultimately, if you look at new york, new york had the congestion tax applied to taxis they had driver pay have to go up and it hasnt really dented new yorks ride share growth more than say 5 Percentage Points so it hasnt been a big deal in new york we dont think its been a big deal in a worst case in california and we think theres a pretty good shot they can come to an agreement with regulators and politicians to ultimately compromise on the legislature. Why is new york a comparable situation when that congestion pricing went into effect for taxis as well as Ride Share Companies . The fact lyft and euber will hae to spend more on its employees, doesnt that close the gap between that and other modes of transportation that are competitors . Its not just ub versus lyft good question new york is is a unique market buecause theres perhaps less Price Sensitivity but we still think its a good case study and now howe when pricing goes up, the volume doesnt go down if im a consumer and i need a ride some place, if i choose a taxi over an uber or lyft, ooip not going to feel it because everybodys passing that pricing along versus if that price increase happened just for a lyft or uber, taxis may look more competitive isnt that more of what the situation would be if it passes in california . Look. Its a good point. I do think you would have a bigger price differential with taxis or less of a cheaper price visa vi uber and lyft but i think its such a better experience to use an uber and lyft i dont think it would be a big hit on volumes okay, well leave it there. Thanks for your time appreciate it. Thanks. Now over to mike for trade ing nation mike. Kelly, thank you. Lululemon doing some lifting today. The stock racing higher this year, up more than 50 one of the top performers on the nasdaq 100 lets bring in your team today matt and mark. So matt, big gains here today. It has backed off a. How does that sit with you most of the gain this is year took place in the first four month os f the year. It was up about 48 h 50 in those four months. Only up about 4 in the last five months. However thats not a big surprise usually see a stock after a big gain the problem is earlier this summer it pulled back and dropped below its trend line going back to december lows, but i like the fact that more recently, its been bouncing back so the key now is is this stabilization thing going to be followed by another up leg or down leg the key level is 192. If they can move back above that 192 level in a meaningful way, no not only will it take it back above december, but it will give it a key higher high and that will give it another leg higher. Thats what im watching now 5 up from here mark, obviously the bar would seem to be high if you look at lulus valuation but this company has been able to hurdle pretty High Expectations in the past they have lulu is just an incredibly strong brand and that gives them pricing power. Theyve got one of the most Loyal Customer followings in all of retail. What also keeps it out of our reach is valuation now if youve been to a maul recently, youd know mall traffic is on the decline, but mall traffic at lulu stores is still off the charts so they continue to innovate from a puckett standpoint and theyve got a three pronged approach to continuing their 20 plus percent a year Earnings Growth focusing on mens, digital and international over the next four to five years. So if you want growth in retail, youre going to get it here and not many other places. This is a stock i wish we owned, but we need to be disciplined in our strategy its trading at like 0 premi20 premium but there there were an expectations miss, wed be backing up the truck yeah Something Like 35 times the next years expected earnings rich, but a winner in the space. Thank you very much. For more, head to our website or follow us on twitter at trading nation ahead on power lunch, are you ready for some football . The nfl season officially begins tonight and we have mike to kick it off plus, ranch rers taking on fake beef how theyre fending off beyond meat and the rise of fin tech. Stripe anoubsing announcing a f service that will bring loans to Online Companies all this power lunch returns ive been a caregiver for 20 years. No two patients are the same. Predicting the next step for them can be challenging. Today were using the ibm cloud to run new analytics tools that help us better predict and plan a patients recovery. Ultimately, its helping thousands of patients return home. Walgreens says it will ask shoppers not to carry firearms into Walgreens Stores other than rised Law Enforcement officials. It joins walmart and kroger in chaining its gun policy following several deadly shootings in the u. S. Ment. Major automakers are uniting to combat the problem hot car deaths they are announcing a commitment to make rear seat remind systems standard on almost all Passenger Vehicles in the u. S. By the year 2025 so far this year, 35 children have died after being left in overheated cars. And in scotland, a team of scientists announcing the results of their study into whether there really is a loch ness monster a geneticist led a team that researched the environmental dna present in the lake. People will continue to see fins here and a lack of evidence is not necessarily given so then they will be loch ness we dont know. We cant find. A giant eel is much more fun to think its a plesio srsaur guys, wak to you no allure to a giant eel. Thats true thank you get a check of the markets right now. Just a couple of Percentage Points off of record highs in fact the dow is higher by right now about 383 points the s p 500 is is up by 37 points one and a quarter percent. 3 off record highs and north america dak up by 128 points check out credit card stocks mastercard and visa hitting highs today. Well take a deeper look into the payment space this half hour the nfl season kicks off tonight and fan interest is high, but theres a potential warning sign that might not bode well for the leagues distant future eric so take a look at High School Football participation its on the decline across america. Dropping 3 just last year alone. Its fifth straight annual decline. Its now down to its lowest level in 20 years. Down 10 from piquing a decade ago. In that time, more than 40 states have seen declines. The only growth has come from the south and Mountain West regions. Safety reasons run rampant and weve seen a growing list of pros choosing to quit early rather than destroy their bodies many states are working on legislature to eliminate youth tackle football. Young sports fans say theyre a fan of the nfl compared to general x and baby boomer fans theyre hoping to drive growth by supporting youth format initiativ initiatives. The nfls also trying to get flag football added to the olympics the kids who play today, they are the fans of the future and what we might not see the impact in this years tv ratings, its a longterm trend that bears watching all right thank you very much. Yeah. Very controversial topic in my town and all around nbc has the first game tonight when the bears host the packers out at Soldier Field in chicago. Mike is in chicago for the big game he is the host of football night in america for nbc mike, great to have you back glad to see you. Great to be here. Glet graet to get the season started. It is and what better rivalry. One of the most oldest and story nd the game and taking place at a time when i think both teams are expected to be pretty good this year. Especially the bears. Bears are 124 last year if they had better field goal kick iing, they may have been in the nfc championship game. They were that good and the expectations are very high around here. Their rookie coach was the coach of the year. They have one of the transformtive defensive players of the year in mack. Expectations as we know, its so hard to repeat in sports and on the green bay side, a new head coach for Aaron Rodgers for the first time in his career, well see how matt does in his rookie year as a head coach of course last year, they both opened the season in green bay and i believe rodgers was a little injured and that injury nagged him throughout the year back to erics piece about youth participation. And let me put it in a broader context. As the nfl begins its 100th season, what is from where you sit as a student of the game, what is the state of the game and how worried if at all is the nfl about declining youth par tis patience i dont know if worry is the term i think they would use aware is the term and tyler, point to rules changes that have happened they have put a lot of dollars, lot of resources into understanding all the impacts of a variety of things. The amount of practice for players. Head contact theyve made many rules that have been towards health and safety we do a presentation every year on new rules and health and safety has been a significant increase in the presentation from the league. They are serious about it and i think its made a difference concussion numbers within the league are down and they know youth b football looks to the nfl for leadership and guidance. And i think from Helmet Technology all the way through education, theyve done more than they ever have. This is an interesting one now an nfl way the play award. Which rewards people for proper form tackling and the healthy way to do business on the b football field and this year for the first time, thats going to the High School Level theyre aware of the numbers out there and theyre doing their best to make the game as safe as possible im curious about some of the big money thats flying around out here for these tv deals. Ratings were up 5 last year and theres a lot of speculation about who might own these franchises sunday night football and monday night football and the thursday pack everything could possibtentiall up for grabs once we spin forwarden theres some interest on the owners part to get this labor deal figured out what do we need to watch there a whole triangulation of the cba, collective Bargaining Agreement and the Players Union and the league and of course the media negotiations will be come up over the next few years which all of us will have a keen interest in. But u the league seems to be healthy. When you start to look at business deals that were done, new business deals like oakley, the sun Glass Company is now doing face shield. Theyve done deals with casinos. Sports betting is no longer taboo in conversation. Genesis, the automaker so a variety of new business with the league. In addition to the growth as you mepgsed in the ratings, i think the concern this time last year of f the health of the league has been quieted a little bit. It seems to be a healthy place right now compared to 15, 18 months ago one asterisk to that that caught my attention is the fact that while raltings were up, home game attendance is at its lowest level since 2010. Does that speak to the success of the product is there a reason why . I know its not just specific to football sounds like baseball and some others are dealing with this issue of people not quite showing up in force to the games like they use d to selfishly, i think we should all take credit. The tv product is so darn good nobody wants to miss it. But it is part of the issue and the problem. I think were seeing stadiums reduce some of their Seating Capacity change seating areas to those areas where you can hang out at table top bars if you will watch the game on a big screen bounce back back and forth i think the consumer has changed and what the league is doing is theyre realizing people dont want to sit in a narrow seat all the time they want to find different places to enjoy their eck appearance there is still nothing like being at a game and i think that game enhancement or enhancement in in game entertainment is a significant playment but im going to say its all credit to the people who work in the production trucks of sunday night football because they do such a good job b of presenting the game youve covered sport from golf to the nfl and theres nothing like an nfl sunday afternoon or evening lets talk about some of the couple of years, mike, the nfl has been dogged by controversies, whether it was kaepernick or ray rice or other kinds of off field or intrusionary episodes and today we get news that Antonio Brown, the somewhat controversial wideout for the raiders may have gotten involved in an altercation yesterday with his general manager. Talk to us a little bit about that and how the nfl feels about these sort of outside intrusions into the game going into this year it seems a little calmer Antonio Brown not with standing. The League Overall i think other the last couple of years, whether its been the social justice space or individual players, theres been less of a bubble up of these issues. Certainly the president was involved in the kaepernick story a couple of years ago. That was not as much of an issue last year. It doesnt mean that conversations still dont happen theres been significant space covered and grown in the social justice. The players voices are being heard more now than ever before and in the long run, its probably a good thing for connecting with fans but youre always going to have an Antonio Brown whos become somewhat mercurial in the away hes tried to move from pittsburgh to oakland. Beautifully put somewhat muhr cuercurial z its been frustrating for them hes a very talented player and hes throwing away millions of dollars if he doesnt figure out he needs to be more connected and part of the team and not an individual because at some point, they give up on guys they give up on guys final question. The nfl season last year at the end was plagued by what some think was the worst single refereed call in history a non pass interference call what has the league done to address that issue and what other kinds of rule changes or procedural changes should we expect this year quick. The big one for the first Time Starting tonight, the flag can be thrown on a judgment call pass interference and relay played back in new york at 345 park avenue say no, were going to pick up the flag or one should have been flown thrown and were going to add wup to this call in certain situations with a challenge by the coach. Very different in the history of the league something to watch this first couple of weeks. Going to be fascinating watch tonight. Thanks, mike my pleasure great to be with you guys. Fantastic catch mike op football night in america. Starts at 7 30 eastern bf the bears host the packers our friend scott wapner will be there. Really . Lucky guy. The u. S. Meat industry is getting hit with a double whammy first, the stunning popularity of Meat Alternatives and second the trade war with china jane wells getting the torre in montana. Jane how yall doing yeah, the cattle prices are down right now and the cattle here have gone to the shade, but we wanted to show wrou the spectacular scenery in southern montana. When we come back, how ranch rers are fighting back with power lunch. I can. The two words whispered at the start of every race. Every new job. 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Meatless mania even hit iting te big meat producers thaf all announced plans for meatless offerings just this week now the ranchers are revolting to this news jane yeah, they find it revolting. Technology has helped beyond meat and impossible foods that do products that taste almost like meat, but here in cattle country, not everyone has necessarily tried one. Have you eaten any of this the beyond beef or beyond meat or the impossible burger you kidding me . No brett crosby is a fifth generation rancher who runs cattle across wyoming. Hes also investing in technology hes test for genetic markers to find animals that can be more efficient in converting plant food into protein. A xhaen says as rancher want not just individual trade, baugh whole picture. Think of it as money u ball for the entire animal and crosby says while the National Beef herd is 30 smaller than it was 40 years ago, were still able to produce more beef now u than we did then. Thats what technology does for you. So my answer to think that beef is not sustainable is theyre wrong. Theyve been wrong for centuries. Another potential threat is meat created in a lab. I mean it could be like meat on a cellula. Reporter level thats big concern to the National Cattle mans beef association. As we go into the future u and specifically at some point when lab based products get put on the marketplace, we need to have an open discussion on how these products are made. Sfwl in fact, 13 states have enacted laws and resolutions saying u yo cant call something meat unless it comes off an animal added to this, chinas not a big beef market, but theyre a huge market for hydes and theyve have fallen by half. Retail having a great day. But this sector has been struggling because of the rising tariffs. Well tell you what some of the top retailers are saying about trade today. Also, move over wall street. Stripe moving in on a big for business for banks more after the break looked at chart patterns. Ive even built my own historic trading model. And youre still not sure if you want to make the trade . Exactly. Sounds like a case of analysis paralysis. Is there a cure . Td ameritrades trade desk. They can help gut check your strategies and answer all your toughest questions. Sounds perfect. See, your stress level was here and i got you down to here, ive done my job. Call for a strategy gut check with td ameritrade. Welcome back gm ceo mara barra departing the white house. She appeared to say on the way out she had a productive and valuable meeting with the president. Again, Ceo Mary Barra of General Motors making the way to the car leaving the white house after meeting with the president this afternoon. This, of course, days after trump dug in to gm. Again. In a couple of tweets saying that perhaps they should move jobs back to the u. S. With a government handout and now one of the smallest automakers in detroit. She didnt just get into a ford, did she . Can you imagine rewind the tape. A jeep . Gm. All right we have news out of the fintech world. Stripe is expanding the empire the company is launching stripe capital a Lending Service to offer loans the help Small Businesses grow. Joining us is cnbc. Com markets reporter kate rooney joining us from San Francisco when i read the story i thought immediately theyre taking a package out of squares play book in terms of offering loans to some of their customers. They are indeed stripe as you know competitor to square they have customers of uber, lyft and target. Theyre getting into a completely new line of business which is lending so as you know square, paypal and amazon are already doing lending and the idea is to get smallbusinesses that already use stripe as a platform to grow, give them capital and as they grow potentially stripes bottom line will grow and it will help them in the end so yeah. Absolutely going up against square. What kind of data do they have access to because its a Customer Base presumably to see how well they pay bills or the customers pay bills . What sorts of, i dont know, proprietary lending criteria would they have . So because theyre a payment platform theyre able to see transaction data, they can see how many times a day somebodys going into a coffee shop and swiping the credit card. They can sort of see the health of the business which is something that square has mentioned as far as not needing to use an fica score none use the traditional way of credit worthiness. All this payment da the. So you have to have that in order to do this type of lending so paypal has it amazon has it. The banks dont really has it. Stripe has an advantage there and a risk of lending to Small Businesses which you guys know are usually the harder hit in a recession and certain analysts when it comes to square have said what happens in a downturn . Youre lending to a pretty Vulnerable Group of people. All right kate, well leave it there kates story is up on cnbc. Com kate, thank you. Kate rooney. Retail soaring today well tell youha wts behind some of the monster moves next on power lunch at fidelity, we believe your money should always be working harder. Thats why, your cash automatically goes into a Money Market Fund when you open a new account. And fidelitys rate is higher than etrades, td ameritrades, even 10 times more than schwabs. Plus only fidelity has zero account fees and zero minimums for retail brokerage and retirement accounts. Just another reminder of the value youll only find at fidelity. Open an account today. Trade and tariffs today but it is not just the big stores feeling the pinch. Courtney reagan has that part of the story. Hi, court. Reporter hi. You may not know 98 of u. S. Retail companies employ 50 people or less that means 40 of retail employees or 11. 5 Million People work for a Small Business in retail we are here at united legwear and this is a company that has about 500 million in annual revenue and 1,000 employees so larger of one of those private small retailers. They manufacture legwear and accessories for brands like sketchers and puma and a number of countries, china, by far the biggest. They make 270 million pairs of socks there. Every year as far as being able to protect our financials, our margins, our infrastructure, sourcing base and overall supply chain. Reporter now, carltons is just one Clothing Store that sells tommy bahama and its in delaware the coowner said a 15 tariff increases his prices and expects to lower the amount he sells and worried about the larger domino effect of tariffs. My consumers paying more at the grocery stores, the hardware stores, et cetera and coming in here with less dollars to buy and costs more im concerned about my business and next door neighbor down the other quote main street. The vitality of our community hinges on the success of our businesses reporter both of the gentleman testified in d. C. Hoping that the administration would reconsider their tariff policy back the you. Thank you thank you for watching power lunch. Closing bell starts right now. Welcome to the closing bell. Im wilfred frost here at the Goldman Sachs post today up 3 broader financials leading a broad and large market rally we have more on the story of goldmans partners leaving with 59 minutes left to trade, sara, we are 410 points