We have full coverage. Were down almost a percent right now and the small cap is down by 1. 6 take a look at the stock netflix down 4 . Well have much more on these moves later this hour. Kelly. Lets begin this hour at the United Nations where President Trump talked tough on china seemed to turn markets and the headlines about impeachment sending us lower e eamon has the details. Reporter the president taking a tough line on china today suggesting that theyre guilty of intellectual property theft and putting that in the context of a deglobalization of the overall World Economy saying leaders for too long have participated in globalization that hurts their own citizens. The president has been ticking the opportunity throughout the day to defend himself on this burgeoning ukraine scandal even as democrats are talking up the idea of impeaching him here is what the president had to say earlier today they have no idea how they stop me. The only way they can try is through impeachment. This has never happened to a president before theres never been a thing like there before its nonsense and when you see the call, when you see the read out of the call, which i assume youll see at some point youll understand that call was perfect. Even the Ukrainian Government put out a statement that was a perfect call there was no pressure put on them reporter a forceful defense there from the president of y t United States. We have been learning that nancy pelosi expects to make an announcement at 5 00 p. M. After she meets with her conference to discuss impeaching the president. Whether well get a road map for a way forward at that point is unclear. An announcement is coming at 5 00 back over to you its going to be a long three hours. Thanks very much the march to new record highs taking a detour today. Starting with the president s speech at the u. N. And continuing with that talk of impeachment. Lets get to a rundown of the new york stock exchange. We sort of had three strike hit to stock today we started positive but began weakening after the open we had weaker Consumer Confidence the u. S. Consumer is helping prop up the World Economy. President trump emphasized the negatives on china trade at his speech he said china did not promise reforms. Consistently stole intellectual property finally an hour ago impeachment talk got louder. Speaker pelosi said there will be an announcement made later today. We had a very narrow trading range the last three weeks the s p is not moving to 1 range and predictably stocks lagging today. Stocks like Goldman Sachs and jpmorgan back to you. How much more pain could be ahead . Lets bring in cnbc contributor. Theres things out there that are bugging the market high pressu pressure how much do you adistribute these things or concerns about impeachment announcement from Speaker Pelosi i think todays moves you can largely attribute to those factors. If you look beyond one day theres good reasons to be more bullish and cyclically positioned i think every one is worried about a recession. Every one is worried about some of the geo political they are hiding out in treasury bonds. I think theres a much bigger payoff than there is from honkering down and staying defensive. I know rich disagrees with that. I look forward to hearing what he has to say. What are your thoughts and is the Political Risk one the markets have not yet priced and especially as the odds of the house passing some sort of Impeachment Movement thats now at 42 . Its basically doubled over the past couple of weeks or so is this the risk that the market has not put in it doesnt have to be that you believe that the president will be impeached but it could be you believe that President Trump enters the 2020 election cycle in a more weakened state right theres a lot packed into what you just said. I think the important part is that weve seen ridiculous events occur for the past two and a half or three years. One day up, one day down the market for most of that peer went up. Now the question is why is the market now very shaky when were getting more of the same whats changed the answer i would argue is the fundamentals in the background are weakening. When the fundamentals are strong, the market can shrug off a lot of these events. When the fundamentals are weakening, they cant. Theres no counter balance to the issues going on in washington i think thats what people are missing. Its in the background, fundamentals are weakening they are not weak in an absolute sense but they are weakening and our expectations will continue to weaken. Thats a source of much debate the economic index went back up to recent highs. We know well that the manufacturering stuff is lo inig worse than the consumer side im wonder because your point of view, if youre concerned about how valuations have gotten this year cyclical pes have contracted. Therefore the rest of the market looks expensive. Itd signals youre at the peak of a cycle i think thats what were seeing now. Not just the economic ba backdrop but what is priced into the securities i agree with Richards Point you want to buy them on earnings but many of these companies have seen significant earnings downgrades im not sure they are trading on peak earnings. They look considerably cheaper versus the defense of stocks but the secular gross stocks you have some sort of steady Growth Companies that you find and the better retail companies, for example. Some of the Consumer Staples that have some growth. You have banks i dont think they are over earning by a significant margin. All right thank you both adam neumann vowing to pressure and agreeing to step down as the ceo of wework. Hes officially stepping down he will be replaced by two ceos that will be taking his place who are currently at the company. He will be seating majority of control from super voting shares all of these moves preparing wework for an ipo down the road. Theres a line if there saying they will look hard at balancing weworks profitability and high growth the information coming out with the story saying wework is look at thousands of job cuts its had to make the company realize we need to get our ship in order here. It will allow the company to continue in a private way for longer its not one to one like any other share holder how does id shake out over all . I think the general idea is he will have to listen to others more than he would have which was a huge reason that so many of these public investors were look at the company were hesitant on investing in the company. At three to one, you have to be cognizant of not only what softbank thinks, but even down the road after an ipo youve got to listen to what your next institutional shareholder thinks. T to your point he will still have some control hes still the largest share holder in the company from an economical standpoint. Three to one thats still a god amou good amount of control its not like hes going to be in the shadows obviously, the perception here needs to be hes giving up control. Thats the whole purpose in doing this you have to imagine this wasnt adam nuemanns idea. He was likely advised or pressured to do this quite a turn of events. Its been a world wind that sort of culminated in wework if it was the fist out of the gate to ipo, things were different and they ipoed before uber and slack and a variety of other ipos that didnt do well, would this chain of events have happened or is this because weve seen such poor reception on the other ones and this company was sort of even a bigger stretch on the valuation. They would have just felt hood wiwinked in the end. It would have been much higher than 15. That assumes it went public unless youre talk about private investors being hoodwinked so softbank was the only one that invested has there been any other reporting on why activities that werent that horrifying to anybody who knows this guy transporting marijuana overseas were practically legalizing marijuana in this country. What is it that really changed softbanks mind about going from backing him to wanting him out and all of these changes in matter of days that will be the story that every one will need focus on in the next coming days obviously the major part of that was the reception of the ipo which was there was obviously push back among public investors saying we are uncomfortable investing in this company as its currently set up here are the things were uncomfortable with one of them was that adam neumann has too much control and was the ceo and chairman and had all these side deals and his family members are involved. These are more of your professional managers. Grown ups in the room thank you. Thank you markets are climbing back and some headlines reporter President Trump just tweeted he is going to authorize the release of the transcript of his conversation with the president of the ukraine thats at the center of this scandal that now has democrats talking about the possibility of impeaching the president. Here is the tweet from a couple of seconds ago the president saying im at the United Nations representing the country but have authorized the release tomorrow of the complete, fully declassified conversation youll see it was a very friendly and totally appropriate call no president and unlike joe biden and his son no quid pro quo. This is nothing more than the continuation of the greatest witch hunt no indication if he will release the full whistleblower complaint that involves him and his behavior relating to the ukraine. Did the president threaten to withhold military aid from the Ukrainian Government in exchange for an investigation into joe biden and his son. The idea he is releasing the transcript tomorrow is interesting because Nancy Pelosis staff said shes going to make an announcement in the wake of their impeachment meeting on capitol hill at 5 00 p. M. Today she will make that announcement without having seen this full transcript not clear when capitol hill will get the transcript that could put the democrats in an awkward position as they are deciding about impeachment you would think the democrats would be forced fo ed postpone announcement auout of fairness. Reporter the train seems to be moving pretty quickly on capitol hill they could modify what they announce they dont have to announce an impeachment effort they could announce the beginning of an impeachment inquiry and gathering that whistlebloer report and the transcript would be part of such an inquiry it does present a wrinkle for democrats who seem to be moving full speed ahead up on capitol hill tactical wrinkle is the way to put it. Markets trying to gain this out. Thanks for now were continue to follow this. The dow down about 87 points. A pretty wild day here on wall street well off the lows of the session. Well have full coverage as the hour continues Bernie Sanders says billionaires shouldnt exist. Details of his plan to get rid of them are coming up. Dominos made its name by delivering businepizza to your i 30 minutes or less has the competition taken a bite out of their business . Well have the ceo, next welcome back dominos shares a lower today the key reason why is tlidelivey Third Party Services like door dash are helping to flood the field with more options for consumers. How do they stay ahead lets get over to kate rogers in chicago where she is sitting down with dominos ceo kate thanks so much. Rich, thank you for being here with us today. My pleasure kelly just mentioned all the competition were seeing in the restaurant space when it comes to delivery and Third Party Apps youre adamant using these apps is not the way for growth for dominos. Why have you chosen to go this route . Weve had a strong and profitable Delivery Business unlike a lot of the other restaurant brand, we dont have to decide to get in or not or try to figure out which of these third parties is going to be the winner at the end of this shake out. Were really focused on building, continuing to build that tliDelivery Business with r franchise and doing it in a profitable way we believe that means doing it on our own the broader story in the space is technology. We have seen of your competitors, mcdonalds, starbucks make these big splashy tech in order to help build out that part of the business. Are you keeping your eyes open for any partnerships or acquisitions we look at all the options. Do we build it, do we go out and buy something. There are other times well go out and partner with someone dominos is undergoing a big exchange you do use a lot of steel and aluminum im curious have tariffs have impacted you we talked about supply chains but the actual terms, the costs have gone up, right . Most certainly Construction Costs have gone up were in a really robust labor market so wages have risen in construction as well the good news is we have such a terrific four wall economic model that even with some of those rising costs were still able to deliver to our franchisees a great investment two and a half year average pay backs for Dominos Pizza today in the u. S. We mentioned international expansion. Youre doing business in places like china im curious how International Tensions and trade tensions are impacting the business is it showing up anywhere outside the u. S. Were not seeing it in our business with respect to trade tensions the great thing about our Business Model we have International Master franchisees. They are locally owned and we buy almost all of our ingredients locally as well. Were building businesses that are benefitting the economies of the international markets. Places were growing rapidly, were an merging part of the economy. We talk a ton about delivery on cnbc. You hear it every day. Analysts say is two and a half the opportunity that delivery presents for the Restaurant Business im curious what dominos is doing. We have groan our business over the last ten years. A big part of that is having a great value offer for our customers. Its about having the stores we now have 85 plus percent of our global gofootprint. The number one criteria when consumers choose is convenience with carry out were going to continue to build more units and get closer to them thank you so much for joining us we really appreciate it. My pleasure back over the you thank you coming up, netflix was one of the hottest stocks but its lost 30 of its value in the past three months. With all the streaming competition are netflixs best days behind it the nasdaq still picking the brunt by more than a pceernt right now. Power lunch will be right back keeping the night interesting, is all about setting the right tone. Lower carbs. Lower calories. Higher expectations. The light beer youve been waiting for has arrived. Corona premier. Has arrived. When i lost my sight, my biggest fear was losing my independence. Mmm. Good. So ive spent my life developing technology to help the visually impaired. We are so good. We built a guide that uses ibm watson. To help the blind. It is already working in cities like tokyo. My dream is to help millions more people like me. It is already working in cities like tokyo. Through the at t network, edgetoedge intelligence gives you the power to see every corner of your growing business. From finding out whats selling best. To managing your fleet. To collaborating remotely with your teams. Giving you a nice big edge over your competition. Thats the power of edgetoedge intelligence. Classical Music playing throughout doprevagen is the number oneild mempharmacistrecommendeding . Memory support brand. You can find it in the vitamin aisle in stores everywhere. Prevagen. Healthier brain. Better life. Welcome back netflix has entered the upside down stocks falling to its lows of the year disney, apple and comcast crowd into the streaming space lets bring in your trading nation team today. Really a dramatic ride this stock has been on. Really a tremendous out performer up until a year ago then plunged out of its trading range earlier this year. You see any hope it might bottom any time soon . It isnt reacting to the conditions and thats an issue for it it has down side momentum. We have seen it accelerate in the last week or so. Theres no support on it until the december of last year low right around 231 i think netflix still has some down side risks. We will expect some kind of relief rally from that support level and thats where over sold conditions are likely to matter. Its 10 down from here not a lot has changed but its not as if subscribers are swinging is this the market waking up to reality . We think its the beginning they have two major issues subscriptions being one of them. For the first time in almost a decade their subscriptions have fell the second problem is the content competition has heated up companies are spending large amounts of money to buy this content for a five year, two year lease and they dont have as much money to put towards their original content earnings matter more than ever especially for this Company Going up against companies with strong Balance Sheets and strong earnings i would say away for the near future all right well see if anybody can come to the rescue here. Obviously sentiment is declining fast we got to leave it there for more trading nation head to our website or follow us on twitter. Kelly, back over to you. Ahead, the senate is about to kick off a hearing to discuss whether big tech has gotten too big. Well bring you the details. Bernie sanders releasing a tax plan for the wealthy with a firm message billionaires shouldnt exist nike reports earnings after the bell well tell you what to expect when power lunch returns 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. Welcome back President Trump says he will release the transcript of his call with the president of ukraine. He will do that tomorrow earlier during his meeting with british Prime MinisterBoris Johnson he was asked by reporters why aid to ukraine was stopped. Because i think that other countries should be paying also. Why is the United States the only one paying the ukraine. Ive been talking about this for a long time. Not only with respect to ukraine but a lot of other countries why is it germany i just met with the chancellor. Georgia congressman john lewis says he supports impeachment proceedings against President Trump. He made his case in a passionate speech on the house floor. We cannot delay we must not wait now is the time to act i have been patient while we tried every other path and used every other tool the future of our democracy is at stake s youre up to date back to you. Thank you very much. The markets are coming back from the lows of the session after President Trump announced that he will release an unredacted transcript of his conversation with the president of the ukraine. We had seen the s p 500 down by as much as 1. 1 the as soon as the headline crossed, as soon as we knew the transcript we would get the transcript, we paired those losses in half the nasdaq still taking the brunt. Were down by more than 1 and the dow is off by 85 points or a third of a percent we are awaiting the announcement from nancy pelosi. That is scheduled to take place at 5 00 p. M. Eastern time. Well be closely watching for that the oil market is closing up its been hit today. Lets get the latest President Trump really drew down the trade gauntlet at the United Nations today oil prices are kind of like fragile flowers. They wilt in the heat of the back and forth on the trade war. Its seen as a grim signal about any growth in oil demand and sluggish data in europe and japan. You can see down 2. 2 . Gas futures off by 1. 7 . Down on the day well be keeping our eye on it as we progress thank you were watching big tech shares under pressure. They are under fire in washington a senate hear about to begin to examine whether acquisition is hurting. Some of big tech critics will be sitting there today. The ranking democrat and president ial candidate Amy Klobuchar sent us this statement ahead of the hearing quote with virtually no meaningful push back from our government, these companies have reshaped the meaning of american privacy, the purchasing of goods and services and workings of our election and our democracy. Also remember last week we heard from another member of this committee. He told Mark Zuckerberg that he should sell off. This is likely to be another uncomfortable hearing. Back over to you thanks very much. Head l joking about having a Masters Program but it reflects how integral these services have become to our daytoday lives what are you looking for this afternoon . I think the big thing is what is going to be the Big Tech Companies response because we kind of have an idea what the government will do it will be a lot of political grand standing, a lot of comments but are they going to put anything into place. Are they going to do any regulation i think were long far off from any kind of trust busting. But what are the tech companie going to promise moving forward to selfregulate it still comes back to facebook acquiring Instagram Facebook can see that instagram is where its growth is right now. Facebook users are not spending as much time on the platform i cant see facebook wanting to give away that big product when facebook acquired instagram. I remember that headline coming across and not too many people were familiar with what instagram was. Facebook took this property and grew it into what it is today. That would be incredibly unfair message to send to companies who are looking to acquire a small competitor and grow that Small Company into Something Big and profitable right exactly. As you pointed out when facebook acquired instagram it was much smaller business the viability was unclear even though there was a lot of activity on it you have to give facebook credit for taking look at that and understanding the potential around it. They are able to grow more quickly than otherwise would have on its own. I agree with the other guests. To unwind that would be unfair its a huge part of facebook business right now and going forward. I do think legislation wants to take a closer look at what that means for future mergers i think every one will get better educated on how Silicon Valley works a lot of these start ups are not publicly traded. They are Small Companies or soon to be big companies. Like at what happened with the we company, with wework. It should then be a factor in how you regulate future mergers. Look at what happened in the past 24 hours. Despite all of this facebook out there acquiring a Small Company once again i think thats the other thing too. Theres so many things going on in Silicon Valley that Congress Really has to get a grip on. Theres issues of around privacy. Issues around misinformation and issues around competition. Then you have the fcc and the doj and state ags going after them in various forms. Who knows beyond leveeing fines are we changing how they do their Business Congress is saying lets clean this up and make this clear. Facebook and google want the same thing it will be a question of how far they are willing to go in the meantime, it is grand standing they want this as a political issue going into 2020. You dont want to solve it before then. This hearing is likely way to sort of set these markers and sort of set some political goal posts. Are there any signs the marketplace of disruption to facebook and googles core business their dominance of the Online Advertising space. I dont think youre going to see it up with of the big problems is a lot of people still arent informed about the topic if you think about where people are getting their news, its from facebook and the tech companies. We dont understand their algorithm in how theyre getting the content but theyre not going to put that content up high for people to feel worried about and complain to politicians. I think were still stuck in this position for some time. Okay. Thanks appreciate it. To the bond market are yields are falling sharply what is this, two week lows or so absolutely. It looked like were really going to take a stand. If you pair that with the s ps you see how they have been following for the last two days. Even though the bounce in equities didnt last long, the bounce in fixed income side didnt last long either. Theres the dollar index it has best bounce of all. Once again its backed down. This story might not have legs in the big picture but this market is trigger happy on every front. I will say one thing, we had a b plus auction a very good auction. Back to you. Thank you trigger happy is right take a look at the markets we are heading back for session lows with the nasdaq down by more than a percent right now. We did see the markets turn lower. Rick captured it well with trigger happy. This announcement is getting out there before we have the transcript released. Meantime, Bernie Sanders is out with a new wealth tax proposal that could make elizabeth warrens plan seem like cake walk for billionaires. We have the detail, next but were also a company that controls hiv, fights cancer, repairs shattered bones, relieves depression, restores heart rhythms, helps you back from strokes, and keeps you healthy your whole life. From the day youre born we never stop taking care of you. The ncome on. Y glc. [ cars honking ] its so late. Yay. It fights traffic. No parking. I told you. Oh, a spot hold on. It fights tension. Seriously, did you take my phone . Passenger light on. It even fights. Fighting. Innovation that keeps people together. The 2020 glc. Lease the glc 300 suv for just 479 a month at your local mercedesbenz dealer. We have more details on the impeachment inquiries heating up nbc has confirmed that Speaker Pelosi will announce a formal impeachment inquiry later today. Thats according to two democratic sources who are close to her nbc says that no decisions have yet been made on whether they will convene a special select committee. Some aides have supported that idea some lawmakers have said thats the way they want to go. Still unclear how she will proceed. Nbc has learned that Speaker Pelosi will announce the launch of a formal impeachment inquiry. Back over to you thank you were still awaiting that 5 00 p. M. Announcement. We have a sound of Speaker Pelosi lets go to it right now we have to have the facts as soon as we have the facts, were ready. Now we have the facts. Were ready for later today. All right again, 5 00 p. M. Announcement from Speaker Pelosi. We have the dow down by 152 points or. 6 . The nasdaq is off by 1. 4 . The president s tough talk on trade turning sending stocks down further the stock that could impact where the dow heads tomorrow nike is reporting results after e bell everything you need to know, next on power lunch. Limu emu doug and now for their service to the community, we present limu emu doug with this key to the city. [ applause ] its an honor to tell you that Liberty Mutual customizes your Car Insurance so you only pay for what you need. And now we need to get back to work. [ applause and band playing ] only pay for what you need. Liberty. Liberty. Liberty. Liberty. What do you look for i want free access to research. Yep, td ameritrades got that. Free access to every platform. Yeah, that too. I dont want any trade minimums. Yeah, i totally agree, they dont have any of those. I want to know what im paying upfront. Yes, absolutely. Do you just say yes to everything . Hm. Well i say no to kale. Mm. Yeah, they say if you blanch it its better, but that seems like a lot of work. No hidden fees. No platform fees. No trade minimums. And yes, its all at one low price. Td ameritrade. Filmgate is growing really staffing a small bquickly and. Is challenging. I needed to fill a production coordinator role. I was looking for someone with specific skills. So i posted a job on linkedin. Maribel had all the skills i was looking for. And looking at her profile. I saw shared connections. That was a plus. But the most important thing. Is the ability to connect to people and she had it. And i knew. She was the one. Post a job today at linkedin. Com grow nike lacing up for earnings after the bell the stock is higher for the year, but lagging the overall market nike delivered a slight miss last quarter, but sales were strong so with the trade war still in focus, what should investors expect this time around . With us now, jim duffy, analyst at stifel. Great to have you with us. Last quarter, surprise to the upside in terms of what the company said about china what are you expecting this time around thanks for having me. Yeah, thats a great question. Thats one of our key watch points is the china marketplace. Chinas a high teens percent of revenue for nike, but a mid20s percent of operating profit and a larger portion of incremental growth nikes a third of incremental growth planned for the business. Last quarter, they reported 24 Constant CurrencyRevenue Growth in china, which was a surprise to the upside. We think they, again, have strong results this is going to be a key watch point for the market we think the market will be looking for high teens or better Constant Currency growth and we think nike delivers. Nike is im sorry, go ahead, jim. I was just going to say, nike is a 6. 5 billion business in china and a bellwether for Chinese Consumer demand. Thats going to be a focus not just for nike but for other stocks sure. In terms of north america, what are you looking at to be convinced that nike is still strong here . You mentioned in your note that you thought back to school favored nike i mean, how is the directtoconsumer business, for instance and if we see that strong, what stocks could we see sell off on the back of that sure. So, all signs point to nikes business being very strong right now. And thats because theyre in a very strong product cycle. For over a decade, stifel has conducted an annual backtoschool survey, and nikes yeartoyear gains this year were the strongest weve seen in the history of this survey, and nike is winning at higher price points, which we think is a leading indicator of overall brand demand and momentum and we think that translates globally. That should definitely be represented in their directtoconsumer numbers nikes Digital Business has been growing at a better than 30 rate we think nikes taken share from adidas, thats what our survey shows. While nike was showing strong yeartoyear gains, adidas was falling off and some of adidas higher price point products dont seem to be resonating. I wonder if theyretaking share from under armour, as well but they have not shied at all from some of their political involvements is that unaffecting them or is that actually a tailwind as you mentioned, those backtoschool numbers are incredibly strong. They are. And i think thats more a function of product strength than it is, necessarily, political stance but nikes always going to stand for tree trade and theyre always going to stand behind the free speech of their athletes and, you know, the rights of their athletes and so thats some of what theyve seen with the Colin Kaepernick situation, for instance are they taking share from under armour, real quickly i believe they are growing faster than under armour in the footwear category. What youre seeing from both of the brands is a focus on quality of revenue, not quantity of revenue. And so under armours pace of growth has been not as strong, but they are seeing really strong margin improvement, because theyre better matching supply with demand under armour is trying to rebuild a Foundation Upon which they can grow taller in coming years. All right jim, appreciate it thank you, again jim duffy, there with a preview of what to expect from nike this afternoon. Its bernie versus the billionaires next on power lunch. 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. Classical Music playing throughout welcome back Bernie Sanders unveiling his wealth tax plan and a key component is taxing billionaires out of existence billionaires feeling the bern the Bernie Sanders wealth tax would tax billionaires fortunes and cut them in half over the next 15 years. As he tweeted this morning, there should be no billionaires. Were going to tax their extreme wealth about 180,000 households in the u. S. Its a sliding scale starting at 1 , rising to 8 for those with over 10 billion jeff bezos would pay 9 billion in wealth taxes this year, along with his Income Property tax, capital gains. Bill gaetes, 8. 5 billion the top ten would pay 60 billion in wealth taxes. He plans to rise 4. 5 trillion over the next ten years. Thats about twice the amount of elizabeth warren, which is clear he wanted to outdo to pay for medicare for all for all the things hep wants. But i figured the headline, what did he really say the tweet literally said, billionaires should not exist. We went from pay your fair share to elimination, there should be no billionaires, which is extreme, but were in the democratic primary thats exactly what hes going to get, because if this happens, the billionaires will move out of the United States. They would find ways around it so it wouldnt raise revenue or we would lose them, absolutely wonderful robert, thank you robert frank. What an outrageous tweet. Keep it to myself. Thanks for watching power lunch tune into fast money for more closing bell starts now. Welcome to the closing bell. Im wilfred frost. Its been a volatile day here at the new york stock exchange. We opened higher, then we were down 1 at the lows. Weve recovered a bit, but still down three quarters of 1 . Politics the driving force behind that. Stockspecific stories, too. All of which coming up in the next 59 minutes. Im sara eisen. Welcome, everyone. Look at whats driving the action in the final hour its the white house and momentum for impeachment today President Trump promising to release new details of his call with ukraine while Speaker Pelosi will have a formal announcement this afternoon. The president also taking a somewhat hawkish tone on china at the u. N. , potentially underminin