Power lunch starts right now lets get a check on the markets which are fluttering close to record highs. Slightly higher today well off the lows the dow was down about 100 points early this morning. The s p still just 1 away from record highs as it gains about 5 points take a look at a pair of housing stocks hitting new highs d. R. Horton is at its highest levels since january 2018. The doctor is in we begin this hour with new dovish comments from st. Louis fed president. We know he was the guy who dissented from the last meeting. Now he says a sharker than expected slow down is possible it will determine that on a meeting by meeting basis he does not expect trade uncertainty. Its not going to go away any time soon. In addition to trade, bullard highlights these downside risks, slower growth. That could feed into the u. S. Economy. Second, contraption and global and u. S. Manufacturing and third slowing u. S. Business investment hes worried about the inverted yield curve that suggests u. S. Monetary policy could be too restrictive for the environment. He says it cannot react daytoday to the trade war. He says certain insurance may help recenter inflation. Take a look at the outlet for the fed. A sec cut. Theres a 54 chance right now you call that 50 50 in the last hour i think thats probably just about right. It just feels like its got to break one way or the other. Maybe it will be trade that decides it got a little while. There was one other thing that you mentioned in the last hour we put together the list of all the fed speak this week. If you think you have enough, the whole bunch coming forward ester george will the speaking on the payment system. Robert kaplan on thursday. Five fed speakers b follfollowe two on friday. Is it too much fed speak . Never for you, i know that does the market misprice the fed for that i dont think we have too much fed speak for that people know to listen to certain people on the fed. That begins with the fed chairman all right, steve. Markets are calm today. There could be a storm on the horiz horizon. Bob. Hello bullard was talking about a sharper than expected slowdown that it could be possible. We may be seeing that in europe. Those flash manufacture pmi numbers lowest level in ten years. Germany may be close to a recession. U. S. Stocks have dramatically out performed europe again mixed Performance Today for u. S. Stocks kat is having a great month. Generally missed netflix down 10 in three days drop big on friday a lot of choices for consumers back to you. As we inch closer to the end of the month and the Fourth Quarter, is this just a calm before the storm gentlemen, welcome david, let me begin with you. Should i trust this qualm spot or not absolutely not. Remember youve had a lot of volatility this year you had a good rally in the last week or two. We are looking for a good deal more volatility. Both up and down but not is not the time to think it will be calm and now is not the time to be plowing new money into the market you feel the same way, brian . To some degree. I would say people got too bearish in august and they jumped on whan every kind of came back to work in september lets be clear, the fed remains a volatile subject matter. The trade policy remains a volatile subject matter. We could just caution investors for making any kind of binary decisions either buying or selling. Focus on Companies Just by really Good Companies to whether the storm through we believe it will be a volatile Fourth Quarter as well. David, ifi am going to follow your advice and kind of buy on dips, what areas of the market do you think represent the best value right now we think Energy Stocks are pretty interesting you had oil prices nup in the last week and a half the stocks havent done anything thats a group that led the market and the commodity price for the last few years we like a lot of Oil Companies here we also like royal dutch we like the financials here which have been a lagger and select Health Care Stock brian give me some choices sector wise that youve got your eye on right now we agree with energy but we like it north of the border. We think Canadian Energy are much better managed assets they actually should be doing better we Love Technology and Communication Services stocks as well we think those areas are the new Consumer Staples we have been in fjs for a long time especially the money center banks. Those scaleable businesses and financials we think are expressly owned around the world. We think that is providing combination of cash flow and dividend flow. David, what do you make of the renewed kind of downward slump in bond yields here. Is that putting us back on trend or how do you read that . We think if youre a bond investor yields have gone to the lower end of the trading range our u. S. Market is following a lot of what happened in europe we expect european bond rates to stay low but we think the u. S. Economy is much better we think even with the fed lowering rate there are Interest Rates will go higher over the next 6 to 12 months. Now is not the time to be buying long term bonds. We would be a seller rather than a buyer. We would focus on the one to three to five year bonds youre not going to get a lot of yield. Youre getting a comparable yield in terms of what youre getting in the long term bond. I assume you agree with that . Yes august could have been the top of the bond market the type of e notimotional buyie saw in bond products in the United States clearly rotation that we saw. Really moment from overseas. Fixed Income Investment coming to find some sort of income. Thats why we really believe from a longer perspective that Equity Income growth is an underowned asset and should be a stand alone asset class within Asset Allocation thank you very much thanks a lot. Auto worker strike is entering its second week when will it start to really hurt gm . Phil has the latest. You wont see the pain at General Motors not in a huge way. Im sure theres a bit of pain now. Youd have to go out four to five weeks thats the expectation of analysts who have been tracking the company and tracking the strike as we enter the second week of no production, its about 7500 to 8,000 vehicles a day production that General Motors is losing here in the United States they are also losing production in canada and also filter down into the plants in mexico. 50 to 100 million a day thats theest ha estimated impa. We have seen layoffs at the gm plants in canada and layoffs with some of the suppliers the president ial candidates on the democratic side they are taking chance to meet with uaw workers walking the picket line. Senator warren met with strikers on sunday. Vice President Joe Biden met with picketers on sunday Bernie Sanders plans to be in detroit later this week. Do investors notice at this point . Do they care take a look at shares of General Motors its flat. One week into the strike shares have done nothing. There was a bit of Movement Last week and came back at the end of last week but generally speaking this is not having a huge impact in terms of how investors look at shares. Thats because the Third Quarter impact expect to be limited at this point thank you very much shares of netflix under pressure today despite big wins at the emmys who will be the big winners. Plus pressure pointing on weworks. Is he being made the companys fall guy for the disasterous nonipo. The latest on the push to fire the founder micong up on power lunch. Man can i find an Investment Firm that has a truly longterm view . It begins by being privately owned. With more than 85 years of experience over multiple market cycles. With Portfolio Managers who are encouraged to do whats right over whats popular. Focused on helping me achieve my investors unique goals. Can i find an Investment Firm that gets long term the way i do . With capital group, i can. Talk to your advisor or consultant for investment risks and information. Tmpblts disasterous ipo of weworks has a new twist. The companys biggest investor is pushing to get him out of here we have the details. The latest is a report from rou reuters saying adam has started discussing his future role and that could include giving up his ceo role and transitioning into a chairman role. If thats true would be a remarkable turn around for the founder who has managed to maintain majority control of the company through many realms of fund and put in place a provision that his wife would pick his successor should he pass away. The pressure on newman according to sources coming from softbank. Thats the biggest external investor softbank is represented by ron fisher who joined the board last year its unclear where other Board Members stand. The representative from benchmark trk or steve layman who joined the board back in 2012 where do his loyalties lie adam is more powerful than any of them. He can fire the entire board if he chooses if question is how can he best move his Company Forward and get the cash it needs to continue growing. Wework may not be able to grow at the same pace we have seen. Those are the questions to ask. Thanks lets put them to our next guest. People are pointing to your expose about Adam Neumanns lifestyle. What more have you seen in terms of reaction because we know what kind of character mr. Neumann was or is. It shouldnt be that surprising. Exactly right weworks Board Members have long known hes this very unusual character, the life of the party, et cetera they decided very recently to act upon that once the magic had worn off with the previously really high valuation that they had. Paul, what do you think is most damaging in terms of these anecdotes in terms of how he runs the company or conducts himself that may have changed softbanks mind about him or is it just the valuation. This were going out 30, 40, upwards of that billion dollars there wouldnt be any problem. I think part of it starts with socme of the marijuana usag on the airplane going to israel. Some of his behavior in terms of side deals his wife being involved in the business trademarking the word we theres a number of things that i would not call this a regular surprise, what we call predictable surprise that Something Like this would not go forward well i think the Investment Bankers and lawyers should have told him right up, like were not going to be able to do this unless we can kind of get you a little bit more reasonable in terms of your behavior or have you step aside. It should have been understood way in advance if you were consulting to weworks or their board about the messaging of this problem, what would your advice be i think the messaging right now should be dependent upon the conversations you can have with neumann himself. I dont see any way you get through this without him stepping aside i dont think theres time to get him are habilitated or try to redo his image. If i were talking to the board directly, if it wasnt him, softbank, id say you got to get rid of him to do anything. You get rid of him hope the business improves and that the market isnt as volatile as it is right now. Getting that 47 billion out there and making softbank invest on the basis of that, either they didnt do their Due Diligence or the lawyers their remains the small matter of mr. Newmans majority position as a holder of the shares how much does he have and is it a two class share system where he controls the voting shares. Yeah. They dont detail how much is his but he controls 30 of the shares but has majority vote he can fire the board when he wants. He very much has to be a willing participant if hes going to step aside the leverage point here one would presume is wework needs more money they will run out of cash some Time Next Year if Current Trends hold softbank could provide socme of that and ipo could provide some of that. You tell me how likely you think it is he would step aside. What other avenues do wework have if they want the funding and maybe want to stay private or still go public its hard to really know without being behind the scenes right now which we were. My sense is its kind of binary. Either hes going to step aside or it will be a fight. Hopefully well find out soon. Do you think that paves the way for an ipo yeah, i would imagine maybe they need dom back in a bit. A lot of the language in the ipo elevating the worlds consciousness there was a lot of mysticism. I think that was a very adam thing. The companys investors want it to go bub lick tie it off here you were pretty clear he has to go if they want to move forward. If you were talking to adam neumann, how would you try to persuade him ive had conversations like this before. Id say dont you want to protect this business you created and let it prosper into the future to do that you have to sacrifice yourself you wouldnt be the first remarkably gifted ceo who had to step aside i think in the interest of himself and his own company, he needs to think about whats best for the company at this point. I dont think it includes him. I really dont a lot of founders turn out not to be Good Business runners. Theres lot of history on that thank you very much. Coming up, why an Elizabeth Warren presidency could lead to a spike in the divorce rate. Lulu lemon heading higher today. Well ask if its a better buy than nike is stay with power lunch. Sometimes, they just drop in. 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Plants capture co2. What if other kinds of plants captured it too . If these industrial plants had technology that captured carbon like trees we could help lower emissions. Carbon capture is Important Technology and experts agree. Thats why were working on ways to improve it. So plants. Can be a little more. Like plants. Liberty mutual customizes your car insurance, so you only pay for what you need. I wish i could shake your hand. Granted. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Welcome back to power lunch. Lululemon winning the ath leisu leisure. Which of these sporty stocks should you stick with. Size up both lulu and nike in terms of how the charts appear and whether they seem to reflect real investor sponsorship. Were bullish on both lululemon has been the bullish trade there. It seems to be the center of the Research Report there. Quite simply its been stair stepping higher. Its been holding its 100 day average and has become tactical as well. Thats where the stocks gapped above. That level lends support you pull back in anticipation of what is a longer term up trend pointed higher neither one of these stocks really looks cheap in fact, arguably the opposite as people pay up for quality how would you view them . We would be neutral at best over the next three to six to nine months. With that said, some head winds are Consumption Patterns on a global basis they may decelerate. Over the next five years, if you look at five years, though, this could potentially be a very Exciting Group to own because you have the emerging markets, middle class thats going to become more of a bigger contributor to growth rates in this group as well as you have the move to direct to consumer selling on the internet. Thats as well will spread the express with higher growth rates as well as margins over the five year term well be more optimistic. Dressing more comfortably seems to not be a fad. Thanks a lot. Head to our website or follow us on twitter at tradingnation. Back over to you ahead, its full stream ahead. Should hbo be getting worried . Till taxes do us part. There could be a marriage penalty that could drive some wealthy couples to twors treasuries continue to fall. All this when power lunch returns. Who says our bank isnt tech enough . Everyone, look at your phones. The design thinking, the digital engineering, security, blockchain, and we will be first to market yes. When we do we launch . Unfortunately, in 2 or 3, hours. Why the delay . Cognizant is helping banks use Digital Technologies at scale to advance speed to market. Welcome back here is your cnbc news update. The u. S. National Hurricane Center says Tropical Storm karen packing maximum sustained winds of 40 miles an hour is on track to pass near or over puerto rico and the Virgin Islands tomorrow. President trump is at the u. N. Today calling on all World Leaders to take action to protect religious freedom in the wake of rising persecution of people based on their faith and beliefs. Its an issue that resonates with evangelicals who support the president s reelection. San francisco based utility pacific gas and electric is expected to make a decision on whether controlled Power Outages are kneed eneeded to redus the wildfires. If approved, outages could occur in nine Northern Counties later in the day affecting 124,000 people Oprah Winfrey is bringing her famed book club to apples streaming Subscription Service the First Episode will premiere on november 1st. Y youre up to date. Kelly, back to you lets check on the markets right now, shall we . Major averages all day have been fluctuating to slightly positive territory. Were seeing that with the dow right now hanging on the a 40 point gain slack down 6 and hitting its lowers level since its direct listing at 23. 80. Beyond meat is falling lyft down 2 now the oil market is closing for the day. Lets go to the commodity desk were just about in the middle of the trading range although to the upside you can see west texas intermedia 58. Brent crude futures up about half a percent 64. 68 theres a sense of stability being brought back to the marketplace right now after the wild spends over the last couple of weeks we have seen due to that big terrorist attack on the two saudi oil refinerierefineris its towards the end of this month where saudi arabia is expected to have all of their capacity back. 75 of that is back online thats according to saudi officials. Now the question is whether theres a risk premium and elevated price brought to to hee overall market back over to you big night for streaming at last nights emmys sadly not many people were watching ratings a record low of under 7 Million Viewers. Down from more than 10 million just one year ago. Thats 30 lower than last year. Hbo walked away with 34 awards game tloecof thrones a big winn. Thats not helping netflix shares today the streaming giant lagging behind its big competitors turning negative for the year. Leets talk about the growing competition with tom rogers. It would be easy, tom, to leap too the conclusion that the traditional broadcast networks of which we work, you did, your alma mater are dead if these kinds of competitions. I dont think a broadcast network won an award last night. There were a couple of cable awards fx will beat disney and hulo Going Forward. Add insult to injury of the ratings that you mentioned which is more severe ratings decline than the prost casters are seeing but ta are seeing double digit ratings decline across the board and thats the big story everybody wants to focus on disney versus netflix versus amazon versus hbo. The bigger story is how rapid is that decline of traditional tv going to be. That drop of they lost three Million Viewers from last years record low even though all the streaming shows which is popular won the awards whats broken . Is it the emmys themselves are not interesting. Should they have been streamed if thats it if youre going to award awards to streamers then why isnt the show streamed . Thats great point. I have no doubt Going Forward how to broaden that audience to where people are finding their best tv is going to be something the emmys will have to focus on. Interesting side note also, we talk a lot about brexit on cnbc. You might have called these the brimmys. The british did win a lot between fleabag, john oliver. Game of thrones right you have black mirror which won best movie the actress who won best lead in a drama for killing eve. That was without the crown british tv there were a lot of british accents on stage british tv was on pbs now its become mainstream with stream what is it about these streaming companies that has allowed them either to produce or to acquire such kpexcellent shows that the traditional broadcast networks arent willing to spend for or have passed on, what . When i was running tivo we pioneered the notion of netflix getting to the television set. We believe that streaming to the tv, getting the sboer tanment on demand not just by recording it and having when you wanted it but streaming and getting it on demand you compounds that for the price Value Proposition of getting endless amounts of television nit n netflix has. They seem to have something come out every day. Youre paying 100 a month for the cable package and they are making it available for 12 a month. Its a great price Value Proposition. Thats what the Traditional Television world is up against theyve been able to navigate it pretty well from an advertising point of view. As advertising declines they have this argument were still bigger in terms of a simultaneous audience than anybody else that scarcity has allowed them to price up their advertising. You mentioned tivo and there was an interesting piece of news that tivo will start running advertisements on its boxes meaning and were starting to see this migration happen with streaming. When you stream something youre getting a ton of ads on a lot of the services these days. Does that mean that people are going to become similarly frustrated with that viewing experience dont you think it was advertisements that drove people off of traditional tv in first place . Yes i think being able to skip through ad os on a dvr was a critical thing theres no doubt that limited advertising within a streaming environment can work hulu is doing pretty well. Its probably essential some people will be willing to pay less to get something with ads in it many people will say the last thing i want are ads and are willing to pay for that. Theres Consumer Choice at work there. I think the bigger issue will be that youre going to have so many nonadvertisers supported high quality streaming services coming on board launching over the next year. Advertising streaming will be at a real disadvantage. Quick thought on the dollars that are being paid for some of those old network, mostly comedies whether its seinfeld or big bang or friends and so forth. What do you think . Obviously the price is the price. Yes its a lot. Im not one who believes that Library Program is going to make or break any of these services a lot was made that netflix was losing services. A lot was made that it picked up seinfe seinfeld you can see this from last night and the shows streamed, the original programming that get all the buzz i think they are required and subscribers stay meaning dont churn which becomes as critical as acquiring them based on the quality and protect frequency of original programming its nice to have things that are comfort food to sit back and watch your favorite seinfeld or office or friends episodes but i have a hard time believing that will make or break a consumer acceptance of a service. With Something Like hbo which it took 30 years for them to get to 30 million subscribers, netflix, assuming it holds to its numbers and that will be the big thing everybody watches next quarter because last quarter it disappointed it looks like it will grow by 30 million subscribers in a year. If hbo is going to turn it into hbo max by adding a couple of off network old shows, charge a couple dollars more, is that really going to drive people to it if game of thrones didnt, if veep didnt, if Big Little Lies didnt i have a hard time believing that thanks. News alert on amazon for that lets go to deidre in san francisco. Amazon is developing alexa powered wireless ear buds that double as a fitness tracking device this according the our own eugeyo eugene kim im certain they will be unveiled but the ear buds would give access to alexa on the go it will be companys first look into the Health Monitoring space. Ear buds that are also fitness trackers got it thanks coming up, some people will do anything to get out of paying taxes. Atto inea voe . Ude dirc th srys xt for farmers here, this is our lifes work. But when a recall happens, perfectly good food goes to waste. Now, weve got away around that. Looks good. Were on target. Blockchain on the ibm cloud helps pinpoint a problem anywhere from farm to shelf. Its used by some of the biggest retailers everywhere. A nice wedge. So more food ends up on your table, is that daddys lettuce . Yeah. And less food goes to waste. Classical Music playing throughout Liberty Mutual customizes your car insurance, hmm. Exactly. So you only pay for what you need. Nice. But, uh. Whats up with your. Partner . Not again. Limu thats your reflection. Only pay for what you need. Liberty, liberty, liberty, liberty love and marriage go together like a horse and carriage an Elizabeth Warren presidency could lead to a lot of divorces among the ultra wealthy. Robert frank is here to explain the marriage tax yeah. Some are calling it the Million Dollar marriage penalty. Elizabeth warren will tax up to 2 over 50 million if you have 50 million or less you dont pay any tax. The couples could avoid it by divorcing. Cups they would pay zero. The warren proposal entails a 1 million a year effective marriage penalty the divorce strategy is just one of many ways the wealthy could gain the tax and generate far less revenue than the 200 billion that warren is projecting they could reduce the loophole by loring the exemption for single taxpayers he said the 8 of top wealth holders are married so they havent focused on this issue. Its one of many ways and there are countless where the wealthy could figure out way around this what the issue here is how much revenue would it really generate by the time they figure out ways around it. The idea, populating income is hard enough but calculating a persons wealth every seingle year and valuing businesses and real estate. And art and cars and jewelry. All of it depends on what you include. In support of the tax, about 75 of the wealth of this group is Financial Assets that are easy to value. That 25 will be tough but its a minority in the total. Thanks. With the yields on the ten year note sitting around 1. 7 , more than half the companies in the s p 500 pay a better dividend yield stay with us woman what gives me confidence about Investment Decisions . Rigorous fundamental research. With Portfolio Managers focused on the long term. Who look beyond the spreadsheets to understand companies, from breakroom to boardroom. Who know the only way to get a 360 view is to go around the world to get it. Can i rely on deep research to help make quality Investment Decisions . With capital group, i can. Talk to your advisor or consultant for investment risks and information. To the bond market we go and mr. Santelli tracking the action at the cme rick you know, tyler, its fascinating today. If you look at the 24hour chart of tens, were not on the low yields of 166, but still down several basis points maybe the culprit, the next chart of bund yields you see how they dropped into more negative territory. Remember, we had pmis. They were preliminary reads for september. On the manufacturing side, the eurozone is in aggregate, 45. 6 germany, specifically, 41. 5. France was above 50, barely at 50. 3 so this is the reason. Now, the Service Sectors still were all above 50, but deteriorating. Now, if we look at whats going on the currency side, you can see a 24hour chart there. The currency getting down, now hovering around 109. 90 open the chart up going back to may of 2017, the lowest level since then is right under 109. The Euro Currency is definitely migrating towards testing or getting close to 28month lows kelly, back to you thank you, sir. Falling treasury yields may be forcing investors to hupt for yields outside the bond market so which are worth diving in for . Fast moneys tim seymore joins us to break it all down. Tim, theres never been more to pick from. How do you figure out which ones have a high dividend yield for good reasons and which ones are more of a warning sign i think the first caveat to all of this is, i would not be investing in a stock just based upon a dividend yield. Macys is a good example of a company thats going through a difficult time its not a question of whether theyre going to pay that dividend to me but macys is a stock you could lose that dividend in half a trading session as weve seen a couple of times this month as far as argument in favorite of looking for stocks and dividend yields is overall supporting equities, i think thats your claim. I would agree with that. If you look at the bbb credit spread minus where we are in the tenyear, you have a level where you have an attractiveness of investing in dividend stocks, as high as weve seen in 60 years so that being the case, and i see youve got a couple of options here, the first one that jumps out to me is at t, which to me would qualify as one of those you want to be a little careful. Talk about which ones you like here and why i really like at t, and even before the news of eliot taking more of an advocate stance lower rate environment would have been some of the criticism was of this company. And people have been concerned about the Balance Sheet, so as we get into lower rates, and thats arguably why were talking about dividends being attractive and you have a lot of relief for a Balance Sheet that has been able to bring down its cost of fbs i financing. This might be part of the activist argument, although i dont think in the short to medium term you want in on the stock. I think some multiple rerating based upon what theyre doing on the media side i do think youll see an enormous followthrough from the streaming business i think the directv businesses, whether thats an asset they decide to spin off or not is not your catalyst here the catalyst is that i think these businesses are being run better and their core wireless business is being shown to be profitable its been in the news over the last couple of weeks, but i think without that, its interesting. We also, tim, have invesco on your list and pfizer llb as well there are a handful of names here are there any kind of particular warning signs or sectors you would have people stay away from again, i think the screening for high dividend yields is sometimes a function of finding a broken company, because relative to where it has been, you can see pretty high movements. Obviously, if a stock is beaten down, the dividend is moving higher when i look at Something Like a pfizer, i think this is a company thats proven to have a Balance Sheet and a Free Cash Flow generation that actually means theyre paying this dividend and a big part of why people own it. But i think as we get into an environment where people have been somewhat skeptical about where growth is truly coming from, the pharma stocks outside of the political headwinds have proven to be a place that outperform in an environment like this, again, a time where people are looking for yield, but also again, when pharma stocks tend to outperform. A company like liondel, to me, its a company ive invested in on and off for over the last 15 years as being an emerging markets guy and a resources guy at one point this is a company where if you look at their core chemicals business, this is a Balance Sheet that at one point i thought was a major liability. Its a company that has done a great job of deleveraging their core business, even though its not taesa terribly sexy time its a very wellrun company and a company i feel very confident holding. Tim, we know you know how macys can hurt you, because its hurting you in the stock. Are we doing this, kelly . We dont have time. I brought it up, but i didnt think it would get put back in my face. You did bring it up anyway, good luck for the duration, sir. Again, were buying stocks that have a lot of room for upside and macys was certainly one of them. Tim, thanks very much well see you soon check, please is next. Welcome back, everybody. We have a news alert on General Motors phil lebeau has it in chicago. We were talking a half hour ago about the layoffs that are going to start trickling through, whether its General Motors or they suppliers mike whalen with cnbc. Com has a number from General Motors, 1,200 additional workers in the u. S. And primarily in canada getting furlough notices today so, guys, this is what were going to see as this strike extends, youll start to see more furlough notices right now mainly in canada, but also potentially in some of the suppliers here in the u. S. , again, as the strike extends back to you. Do these furloughs apply to the people who are on strike or to whitecollar workers no, no, no, these are parts suppliers, tyler and if you dont have an Assembly Line going at the dmax parts supply facility, thats the plant that supplies a lot of parts in dayton, ohio, where are you going to send these parts . Theres no demand because the splee line is not going where the parts are headed to. And in canada, they cant build some of these vehicles, because theyre not getting power trains from facilities here in the United States. This is that, it sort of ripples out as the strike goes on. Phil lebeau, thank you so much for the update on furloughs now for 1,200 gm workers. We were talking to tom rogers about the numbers, the emmys last night and so forth. Netflix was up 46 at one point this year and its now negative. Thanks for watching power lunch. Welcome to the closing bell. Im wilfred frost, stocks recovering intraday, particularly after the european close. All eyes now on the u. N. General assembly the president due to make remarks during the course of the show today weve got 59 minutes left of trade and up about 50 points on the dow. Lets look at whats driving the action weak industrial data out of germany has growth concerns out of the headlines trade talks appear on talk with the usual description of productive and instructive negotiations and fed officials back on the tape st. Louis president bullard repeating his call