Global slowdown is the new reality. A booming bio tech stock shares this company doubled in the past week. The ceo will be here to explain why the party isnt over yet the power lunch party starts right now. The s p down about quarter percent. That would be coke up more than 2 we start with the big story of the hour. Boeing shares are near session lows as it deals with more fall out from 737 max safety issues lets go straight to phil for these developing details phil this is all about a document that boeing turned over late yesterday to congressional staffers who have been investigating the 737 max. This is a copy of that document. Were not going to read all the mes messag messages he said i lied unknowingly it was alerted to the faa and the head of the faa steve dixon. Why didnt we have this sooner . Boeing responded to the story as it developed over the last couple of hours saying over the past several months boeing has been voluntarily cooperating with the house transportation and infrastructure committees investigation into 737 max as part of that cooperation we brought to the committees attention a document containing stams statements by a former boeing employee we will continue to follow the direction of the faa and other Global Regulators as we work to safely return to 737 max to service. Take a look at shares of boeing. Remember that ceo will be on capitol hill he will be appearing in two congressional hearings one on tuesday, october 29th one on wednesday, october 30th you can bet he will be asked about this document. Not only whats in the document and this instant message conversation where the chief technical pilot says they mislead the faa or certification, the folks doing the certification but also this question of when did boeing discover this and why is it just now coming to light. The New York Times report says boeing provided the transcript of this conversation to the department of justice which is conducting a criminal investigation and done so earlier this year according to people quote familiar with the conversation what do we know about that appears boeing had given it over to congressional investigators but it clearly was known to the company if this report is correct, sometime ago because they gave it to the Justice Department thats at the heart of what people are asking. If you knew about this months ago and say they did turn this over to the department of justice and they have known about this what steve dixon is saying is, why are we just learning about it now shouldnt we have been alerted about this sooner. Thats why the faa is saying we want questions answered not only about this document and other documents. By the way, the faa indicated it will be turning over more documents to congressional investigators a little bit later on today were waiting to see what those documents are. S for my own clarification, what was at the heart of the inadvertent lie that this technical pilot said he did. What was he lying about or misleading about it has to do with the m cast. The Flight Control system. He had just been in the simulator. They are talking about his experience in the simulator with mcass and hold up it reacted in certain situations that goes for a while and theres this quote of i lied to regulators and in quotation marks unknowingly. Just also to clarify because this is relevant maybe perhaps also the most s k shocking he said granted i suck at flying but even this is egregious how can the chief technical pilot say i suck at flying i cant get into the mind set of mark. He is a pilot, right . We have reached out to his attorney to see if he can give us some explanation about these instant messages or some explanation about where things stand with regard to him and the mcass certification. I dont know why he said that in terms of i suck at flying. Could have been a side comment between him and another employee if i am inferring correctly, sounds like he was an having an internal conversation where he was raising questions with a fellow boeing pilot or employee about the system quote running rampant in the simulator and i gather he did not share that information, with heheld it, did not she it to the regulators and that was the nature of the lie he didnt let them know of his concerns we have reached out to marks attorney were trying to get a explanation. We may not get any explanation we do know the doj has been looking into this and theres been some reports that mark has taken, pled the fifth. Well wait to see if we hear anything thank you so much just last week dennis was stripped of his chairman title they stripped the title and it raised questions about how long he could last as ceo amid the uncertainty. Could this controversy be the straw that breaks the camels back jeff, can he remain as ceo youre viewers will be disappointed and youre going to be shocked the more i look into it, the more im convinced he can be this will be a tough month the probationary period but as mark twain said in 1895, reports of my demise are greatly exaggerated. We understand theres a little bit less than meets the eye this is a big story. Important to what youre about to say is also whats about to happen. These messages were released from the New York Times story as part of the moves being made to prepare for him appearing for the first time on capitol hill are you saying he can survive todays disclosure and that potential event . There are those two sets of events todays disclosure, the two sets of congressional hearings. What else to put on the plate, in full disclosure that the company is facing some turbulence there are cracks on wings that are still being investigated and repaired theres a tanker that comes through commercial aviation. There were theys in parts, extensive delays on a bunch of fronts theres bag news out there theres no evidence yet that the leadership has done anything wrong. Good for phil for trying to get ahold of this guys attorney hes banging his head against the wall hes not going to get a response i think the attorney is david gerger hes not going to respond. Hes in houston. This guy left boeing, the test pilot and took a job at Southwest Airlines he hasnt been responding since late january when boeing got this message and immediately the first week of february turned oifrt it over to the Justice Department which is what they are supposed to do. Most of the listeners know when something is a criminal investigation and the Justice Department wasnt want you spreading it around. The faa and the department of justice are being investigated they couldnt give it to them for the same reason that anybody under investigation what do you mean when you say you think theres less here than meets the eye . In terms of the leadership. Theres a lot of problem with clearly something in the faa and the department of justice. The department of justice and the faa operate as one the department of transportation they are subject to investigation and along with the guy he wrote to it im perplexed to the point of wondering where youve done work for boeing number two, im ive never gotten a nickel from them. Let me finish my thought. If the management knew of these messages, some months ago to the point that they turned them over to thedepartment of justice, presumably the head guy, knew that those messages have been turned over to the department of justice, was aware of those messages and if he did not until yesterday hand them over to congressional investigators, isnt he then responsible for that omission . Isnt he then, at least, implicitly culpable for withholding information from his chief regulator . No. Why the reason is in a criminal investigation you have to is ask the department of justice why they didnt want this information turned over. Do we know that we dont know whether the department of justice they chose not to they told not to which he will right hand because right hand is investigating left hand and the company had to go along with that if it werent for these congressional hearings coming up in two weeks then they wouldnt have told the faa. We dont know that the department of justice directed boeing not to hand these documents over to anybody. Why dont we have the department of justice on the show somebody being asked that question well get on it and find out. Thats the big question if they had not been dreked to withhold the information, you have to ask the question why then was the information withheld, right . I believe they were directed to not put this information to the people who are under investigation. In they are investigating then you dont interfere. They would have known the first week of february they werent told because they have been running an investigation. Meanwhile, you might want to ask what does this guy know. We dont know. Hes not telling anybody he may pleads the fifth all the way through. Hes not telling anybody what his problem was. Is this system unsafe . What does he know . We dont know. He wont tell boeing. If boeing turned this over after the first crash, the indonesia crash and before the ooethiopia crash, do you think the goth would knowingly hold back information with the Public Safety at risk if there wasnt a criminal investigation that they were not telling the faa and the department of justice about something which they thought was a clear and present danger we have 346 deaths on our hands here this is a horrible situation thats a question you have to ask. Whats going on with this test pilot . Why does he not answer any questions . Jeff, thank you we got do leave it there boeing shares are down more than 5 they are at session lows a 5 drop for boeing shares. Theres the biggest chunk. Well continue the keep you updated as we follow the story still ahead, bill gross resurfacing from retirement. Say goodbye to double digit market gains and hell join us next in a power lunch exclosixl exclusive. Power lunch will be right back obvious. Sometimes, they just drop in. Cme group can help you navigate risks and capture opportunities. We enable you to reach Global Markets and drive forward with broader possibilities. Cme group how the world advances. You should be mad they gave this guy a promotion. You should be mad at forced camaraderie. And you should be mad at tech that makes things worse. But youre not mad, because you have e trade, whos tech makes life easier by automatically adding technical patterns on charts and helping you understand what they mean. Dont get mad. Get e trades simplified technical analysis. Here, hello starts with hi mple. How can i help . A data plan for everyone. Everyone . Everyone. Lets send to everyone [ camera clicking ] wifi up there . Ahhh. Sure, why not . Howd he get out . a camera might figure it out. That was easy glad i could help. At xfinity, were here to make life simple. Easy. Awesome. So come ask, shop, discover at your xfinity store today. Welcome back bill gross out with a new investment letter. Hes warning investors to brace for slow Economic Growth and sluggish markets and our Bryan Sullivan is in New Port Beach with the pimco cofounder for a power lunch exclusive. Thank you very much were literally welcomed into his house. Where you been ive been at the beach. Lets jump right in. I want to get your Investment Advice bond guy who now likes some stocks and well name some names. I want to ask you just on a personal level, would you take in to mulligan anything hes done the last year or two . Maybe the last five the last year or two or the last five. I think i got out a little bit too late if i had to do it again, i wouldnt have left pimco i would have gone straight to the golf course. I think i tried to prove too much and i did it in a vehicle in the unconstrained fund that was a little bit off beat from totally turn investing id want to take that back blackjack you hit on 16 depends on what youre hitting into every one was knocking you about the german boom trade. I think the trade would make money now, right yeah. I lost money as the spread between the tenure and u. S. Treasuries tenure widened its now narrowed by a good 30 or 40 basis points if i were still around id still be making money and they would be singing praises first off you have a lot of money. Youre still active and what i think is cool is that i dont want to say youre a stock guy but now that you are unconstrained, its your money you can do with it what you want youre buying individual conn t equities i still have some treasury futures. I dont have the treasury boon trade. I wish i had its five or six times and it depends on the two to ten year yield spread, so to speak. The spread is flat it was almost inverted and that doesnt do well for the banks of the world now its back out to 15, 17, 18 basis points and perhaps moving higher as the fed initiates qe in another form. Theyre buying bills as opposed to fives and tens. Capitalism depends on it thats why yield curves flat flatenning is so dangerous its a reflection of capitalism at risk with a flat yield curve. No one wants to take it. Everybody hate it when the fed initiate qe. If they held their nose and bought equities, they did well is that part of your thesis . Do you like a lot of other mortgage and will this baby qe push up all stocks quell, no it will help to salvage a day or two of reap of madness in which Interest Rates can and did go to near double digits im in there for the yield the yield is 12 the there are other Mortgage Rates that are similar. Such as such add investco its an Investment Management company. It trades at 7. 5 yield. The active management is under attack and has been for a number of years the fee is fixed permanently i like it from that standpoint and the standpoint of the cheapness and dividend are you one of these guys thats been buying into this utility rally because utility has been on fire i dont want to say out of control buz ecause it makes it sounds like a judgment there not now i sold the last of my Dominion Energy about a week ago. You sold out . Yeah. Had a great run. It was cheap and under valued because electricity lines crossing the regulations and so on but thats behind them for the most part. I think ppl which is half uk and half u. S. At the moment. Hold on here comes ben bernanke with a helicopter of money. Whats the last, most fun investment that youve made then well, theres been two situations in the Health Care Business allegan which manufacturers lenses and so on its being bought by a health company. Theres still a good 7 or 8 in terms of a margin close up if and when they close the merger three or four months from now. I like that and its moving fast were making some good money i remember a few years ago you had a similar trade on linkedin with microsoft that went well. U. S. Recession next 12 months . No but getting down there were down to 1. 5 in my view. The thing is that fiscal stimulus that weve had with the trillion dollar deficit and the tax cuts and so on, its my way of thinking they are played out. You need another trillion. Not just the same trillion but another trillion to do the same type of magic. Will we do the trillion not in the next year and a half not with the Democratic Congress depends on who will be elected well do another trillion for sure for the next year and a half got to sit and watch and wait. The fiscal stimulus which most of the world needs germany needs it but they are so tight. They cant spend money on their economy. They can only lower Interest Rates. My point is the Interest Rate play is basically gone for most of the world because 17 trillion worth of bonds are in negative yield running out of time very quickly, do we get another rate cut in october . We do do we need it we do the trump gets impeached do you think that bond yields go below 1 how does that impact the market. I kn i know thats a big if it hasnt so far. I think it should. What would it do it would slow the economy even more and might produce lower treasury yields but not 1. 5 do you think trump will be reelected i dont i hope not bill gross. Great discussion thank you i said i wouldnt get too political. If trump doesnt win, is it warren i think she will be the candidate. Yes. You think so . I do. Wed get another trillion maybe in stimulus. I think biden is too old and old fashioned. Bernie sanders is too old and old fashioned. I think warren is the face of the future for the democratic party, like it or not. She is a very good chance of becoming president i think so based upon whats happening now, yeah. Maybe we get that trillion and more stimulus. I think for sure. For better or worse. Some would say inflation and perhaps thats true. Remember the feds have been trying to get to 2 inflation for ten years now. It hasnt really made much maybe another trillion will do it. Dont be a stranger. Any time you need us to house sit. Its not exactly a mine, kelly im happy to be here any way dont be a stranger. Youre welcome. We got a second part of this interview. Well continue it on cnbc. Not live but it will be posted later. More with bill on his worst trade, best trades thank you very much, bill. Thank you i love casual gross oh, wow nice. What do you think . I think the house sitting is a good idea. Thats a lovely spot thanks to both of you. It says in the prompter bring in ron ive been at that house i think 2004 we went out there to do an interview lovely spot he was finishing his yoga classes. I want to turn away if politics but they ended on politics he said he thought mr. Trump trump would not win reelection. Elizabeth warren would be the candidate because in her view shes all that much younger than biden and Bernie Sanders vitality and vigor is a whole other thing. Leon cooperman said if theres a warren presidency the stock market would go down 25 same if its sanders i suspect that might be true. Does a 25 pull back in the stock market matter in the longer run i think policy matters im not saying im supporting elizabeth warrens policies. Weve been through decline in the stock market someone like leon would tell you youd buy more what he went through in 2008, i was invested with him at time and got hammered and was up 80 the following year im not going to make too much about a 25 pull back based on someones political assessment they said the same thing about bill clinton and barack obama as well they said the same thing about donald trump as well we had an 8 decline over night. Over four hours if youll indulge me, kelly, for one more is this the market has largely been in a can we call it a trading range . Since january of 18. About 18 months youve got chinas economy slowing a lot from trade and other things youve got slow Global Growth and the imf whether they are good forecasters or not, i dont know saying it will slow next year. You have corporate profits that are negative right now the bar is really low the bar is low. You have trade uncertainty and the possibility of impeachment were less than 1 away from an all time high in the s p and the dow or there abouts. Why arent stocks lower, not higher you got me. Theres an enormous divergence between what the bond market is saying about Global Growth and the u. S. Equity market they are up on average about 18 here and abroad. The bond markets as bill pointed out, 17 trillion dollars in negative yielding debt you get the fed active in the repo market trying to pull short term rates down trying to steepen the yield curve and Business Investment becomes more profitable all those things are working simultaneously i was at an off the record event this morning i can say what i said because its nothing different here. I think growth recession in the u. S. Is most likely where youre at 2 , under 2 . Feels too slow the fed does these in october. Make take some time off. Reassess reassesses, e watwe watch the lr market deflation is a problem elsewhere on the globe, around the globe or disinflation. Central banks continue to ease in the absence of large scale fiscal stimulus. We may see some of that in other parts of world before we see it here thank you very much appreciate it. Shall we get to trading nation mike joins us to kick things around hi, mike hi, kelly thank you very much. Lets talk the tobacco stocks today. Ride this rally at this point. Bill and steve are here to answer that question been a built bit of a wild up and down forthis group used to be its kind of slow and steady where does that take you lets start off with altrua do i like this stock no you got a lot of support at 40. Theres a long term replacement. In a lot of the negativity is already priced in. Youve seepn bit of bump up they have mergers coming down the pipeline you have value i vestenvestors g at this. Theres a tradeable opportunity here taking a look at phillip morris, you had a decent year. I think in a nutshell look at the stock. Its really the recent earnings. Thats it in a nutshell. Good numbers but not so great guidance this thing rallies theres a lot of over head resistance, 8 to 90 if it does get up there, take your profits steve, its a lot to sort out in this area yes, we have the vaping controversy. The risk of the exposure there nothing is really changing with the cigarette business in terms of long term decline how are these stocks valued relative to all of that . I think you have to remember that investors dont go to these companies because they love their products they go to these companies because they love the fact they have stable or at least stable pricing. Theyve got good Earnings Growth and attractive in term of valuation with good yields none of that has really changed. Trading between 10 and 14 times on a market thats trading at 16 times. They represent value and are both yielding well over 5 in the case of altria youre close to 7 . The headline issues are the headline issues. This sector is no stranger to that the underlying fundamentals from a pure stock perspective look pretty attractive. All right in other words maybe hold your nose and buy here if it suits you. Thank you very much. For more trading nation head to our website or follow us on twitter at trading nation. Back over to you thank you very much ahead, todays mystery chart. This booming bio tech has nearly doubled this week. Weve got the ceo to tell us more about it. U. S. Tariffs on european goods going into effect today and the american shoppers who will feel the pain and the retail apocalypse continues why one Analyst Thinks stitch fix could be the stock that emerges from the retail rubble all this and more when power lunch returns. Here, it all starts with a simple. Hello hi how can i help . A data plan for everyone. Everyone . Everyone. Lets send to everyone [ camera clicking ] wifi up there . Ahhh. Sure, why not . Howd he get out . a camera might figure it out. That was easy glad i could help. At xfinity, were here to make life simple. Easy. Awesome. So come ask, shop, discover at your xfinity store today. Welcome back here is your cnbc news update at this hour. Hundreds of thousands of demonstrators flooding the streets of barcelona demanding independence and release from prison of separatist leaders they poured into the city after some of them walked for three days in freedom marches from towns across the northeastern spanish region mpl eight people were killed in mexico during a shoot out. Federal police were fired upon before capturing one of the sons of the drug kingpin. Gunmen surrounded police and forced them to release them. Back here at home, its day two of the chicago teachers strike more than 25,000 teachers and support staff walked off the job on thursday cancelling classes for some 300,000 students. Higher wages and smaller class sizes are among thereasons for the strike ford will offer two years of free charging station access to buyers of its electric cars. The automaker has arranged access to the ford pass charging network. You are up to date back to you. Thank you very much. Lets take a look at the markets as we wind up the week the dow, s p and the nasdaq at the half the industrials off about three quarters of a percent. The s p more mitigated losses. Nasdaq down about three quarters of a percent check out this move in boeing. Thats the story stock of the day. Lows of the session down almost 6 as we told you earlier the company has handed over employee messages from a top pilot admitted that he unknowingly, his words, lied to the faa about certain details having to do with the control system in the boeing 737 max now its time to reveal todays mystery chart. Take one more look at this booming bio tech stock thats right in the last week its up 87 . Its riateata its up more than 200 its about triple this year. Here to discuss for a power lunch exclusive, ceo warren huff warns. Can you explain what this disease is youre treating its a severe neuro muscular disease that strikes children. Youre diagnosed from about age 5 to 15. Youre the clumsy kid on the playground after diagnosis for the next 10 15 years your become dependent on a walker and a chewheelchaird youre bedridden the mean age of survival is about 35 years in a Clinical Trial, you found this treat, drug to be effective in curing this or what no. We conducted a Clinical Trial called moxy which is the largest interventional trial conducted in the disease of our lead drug. They actually recovered about a year of decline. Then they maintained it for the 48 weeks of treatment while the placebos declined at the expected rate. This is the first intervention to ever show an ability to modify the course of the disease. And to stop its progression and to stop its progression how common is this disease and i dont want to get you out over your skis, how big a drug can this be for your company theres about 5,000 patients in the United States and about 22,000 worldwide its an ultra orphan disease i think an important aspect is its proof of concept for use of the drug in other diseases the foundation is similar in drugs like alzheimers, als, park parkinsons its an inflatimmation issue. They address that as their mechanism of action. Was this a drug that you worked on specifically to address this or was it one this you were just looking at for a broader spectrum of potential neuromus c neu neu neuromuscular disorders . We have a whole set of programs in chronic kidney disease. Its the same mechanism just a different organ. We got interested in this disease because of the work done by the patient organization. They have sponsored research for years and identified the target of our drugs as a promising target for fa and approached us with the idea. Thats great news for anyone involved in one of these groups. We have to go. This could be a billion and a half of sales according to one analyst. How would you price it how do people get basic says to it it will be priced like any other orphan drug for a deadly disease with disease modifying effects. I can say that were very sense tifr abo sensitive about the impact of drug prices well do everything to minimize the price for patients well be doing it to balance the interest of the payers they would take this every year so it could be costly it will be a Chronic Therapy until Something Better comes along. Thank you very much. That french cheese is about to cost more cheddar as new tariffs on european goods go into effect today. Well talk about the impact on consumers, next. Welcome back earlier this month trade organization granted the u. S. Permission to put tariffs on 7. 5 billion worth of european goods annually after settling a 15year dispute between the yiet a United States and the eu over air bus subsidies this could mean a higher grocery bill for you as the tariffs kick in today hi, tyler youre right they are telling me they are already hearing from some of their brands theyve informed kings they are planning to raise the price of their irish butter 15 this 25 tariff that goes into effect today affects a wide range of products. Cookies from scotland. Italian cheeses that are big here in the u. S. All of which could be 25 more expensive. Consumers ive talked to are mixed. They say they would pay 25 more for favorite cheeses others say they probably wouldnt buy retailers are now dealing with, that uncertainty heading into the Holiday Season guys, ill send it back to you im not surprised theyre taking some of that themselves theyre pricey i have to shop there sometimes, rahel. I brace myself and i buy kerigold better all the time i love it. 15 more, man. Whoa rahel, thank you. Rahel solomon checking things out for us coming up, stitchfix shares climbing today, but climbing more than 33 this year. Theyve handedly outperformed the s p. Well speak with an analyst who says theres another 25 upside still ahead. Stay with us we think you would really shine in the aflac program. Aflac coach saban we have Health Insurance. Did Health Insurance pay for everything . No, we still have bills. Aflac gives you money directly to help with those. Aflac and your deductibles, knee brace, whatever you choose. Aflac sounds like a winner. Umhum. Umhum. We try. Get help with expenses Health Insurance doesnt cover. Get to know us at. Duck aflac dot com in the human brain, billions of nefor people with parkinsons, some neurons change their tune, causing uncontrollable tremors. Now, abbott technology can target those exact neurons. Restoring control and harmony, once thought to belost forever. The most personal technology is technology with the power to change your life. Welcome back to power lunch. Take a look at todays power movers two dow downers. Boeing shares continue to sink further. Theyre now down about 6. 5 . We are at session lows right now. Major developments with boeing and its 737 max this afternoon employee messages reportedly showed a toppilot admitting to lying to the faa the other big loser in the dow, johnson johnson. Those shares down more than 5 after the Company Recalled baby powder with traces of asbestos the dow component said it is working with the fda to investigate the situation. And the retail etf is also not having such a great day. In fact, its worst day in more than two weeks its not all doom and gloom in the sector, though we have the bright spots for you, next. You should be mad that this is your daily commute. You should be mad at people who forget theyre in public. And you should be mad at simple things that are unnecessarily complicated. But youre not mad, because youre trading with e trade, which isnt complicated. Their app makes trading quick and simple so you can strike when the time is right. Dont get mad, get e trade and start trading today. Tell him were flexible. Dont worry. My dutch is ok. Just ok . Tell him we need this merger. Its happening. just ok is not ok. Especially when it comes to your network. At t is americas best Wireless Network according to americas biggest test. Now with 5g evolution. The first step to 5g. More for your thing. Thats our thing. I dispute what im about to say. Christmas is just around the corner it is and credit weiss isnt full of Holiday Cheer predicting a major slowdown at Department Stores. But the death of traditional retail could give newcomers a boost. Telsey Advisory Group calling stitchfix a buy and initiating Price Coverage target of 25 here with us now for a retail reality check is dana telsey, ceo and chief Research Officer at telsey advisory its so nice to have you here. Thank you after all of these years, i dont think i have ever met you in person. I think once, we may have met each other in person, but im glad to be here in person. Were glad to have you here tell me why stitchfix stands out. I think why it stands out, its an apparel retailer with top line growth. And thats a hard thing to say these days its a tech company that has consistently generated positive Free Cash Flow basically, you pay a fee in order to be able to get the monthly fixes of goods that you would want they have data, which you fill out in 85question survey of what your preferences are in clothing and hopefully you keep more than you give back. The data that theyre getting only makes them smarter about what to send to you. So they have two revenue streams. One would be the subscription fee. Right or the permonth fee that you have to have them assemble these kits and two would be the the fee for the clothing itself. Exactly and 20 of their goods are private label. They have 80 branded. And they grow by garnering more apparel dollars from existing customers. And getting new ones from marketing. Who else could benefit and this is highlighted especially on a day when the mall retailers are getting crushed on a downgrade. And the mall retailers, one of the things all retailers need to do, they have to be nimble. And when you think about nimbleness, youre seeing Department Stores see new things like rental or like subscriptions. Youre seeing some of the true apparel retailers, look at a lululemon, all of a sudden putting in loyalty programs. I think if youre not going to reinvent for relevancy, youll be left behind would you try stitchfix i want to try for my mom. So shell be the guinea pig and then youll try there was an issue they had with repetitive fashion a short while ago. Have they solved that so people are confident im not going to show up wearing the same thing as my friend they have around 3. 2 million customers now, and when you think about what their Customer Base could be, you have around 60 million households that basically earn over 60,000 a year thats their pool of people that they can assess from but, yes, there is new products, and kelly, they just started a kids offering too, recently thats too much to spend this could be a make or break Holiday Season, though thats the real point here theyre winning at someone elses expense, i assume yes if youre going to win in holiday 2019, the activity of buying must be married with the activity of doing. What are you offering consumers to say, i want to be here and i want to be here today . And so, i think that activity is certainly key. You certainly have Companies Like with cosmetics and putting on makeup routines you have Fashion Shows you have collaborations and influencers. Its got to be new 15 seconds, do you have a Favorite Retail stock right now . I have a lot of names i like. Like brands like vf copper, stitchfix and what theyre doing with apparel retailing those are my favorites zplp nice to meet you. You too that does it for power lunch closing bell right now. Welcome to the closing bell. Im Morgan Brennan in for sara eisen at the boeing post and what has become the story of the day. That stock is down 6 right now on news that boeing employees may have misled regulators its also a big reason the dow is down 175 points right now, with just 59 minutes left to go. Im david faber in for wilfred frost this afternoon lets take a look at what is driving the action weve got those controversies to put it lightly at boeing and johnson ajohnson. That is having a negative impact on the broader market. Weak china growth data als