Bloomberg. Why two different stocks could start the burn power lunch starts right now thanks and welcome to power lunch, everyone stocks are retreating from their record highs were off the lows of the session today, but the dow still down about 200 points and the nasdaq getting hit the hardest down 1 today as some of the big e trades are getting dumped. Including the likes of Virgin Galactic and take a look at the tenyear yield sinking near the lows of the session and briefly touching lows of the year at 1. 257 for more, we go to bob pisani an the New York Stock Exchange. Bob. I think you had a good point there, kelly momentum is the issue. I want to show you the s p 500 we had a very short but shr sharp sell off right here. S p future, big volume in the emini futures. That tells you somebodys lightening up on their positions. Its the big momentum really associated with growth names you have Virgin Galactic, but look at the midday drop. Qi earnings have been low and we dont have a lot of clarity on whats going on or extent of any outbreak outside of china. We dont know a lot b about that so a clear reason to be concerned. I mentioned these big names. Virgin galactic dropped almost 25 in ten minutes 42 to 31. No reason for that just momentum people are deciding to lighten up we saw this with other big momentum names tesla dropped 40 in a few minutes. Advanced micro, that had a downgrade from amd and microsoft, big momentum name thats been slowing down finally, look at these names that are flight to safety. Three year high on dollar, gold and ewe tutilities. Also new highs back to you. Bob, thank you. At the New York Stock Exchange now in a new note, Goldman Sachs is warning that the risk of a correction in the near term is increasingly likely due to the coronavirus. Are we going to see that today art tiogaen is is chief Market Strategist with National Securities and Eric Marshall with the hodges funds. Art, first to you. You know is coronavirus something that you know, people should be more worried about in a krchronic sense instead of ju a one off way . Sxwl well, three things to think about. First and foremost, were going to have some economic damage some is going to be permanent and some temporary i think we try to lump everything into permanent, but its not for example, travel and lee shaur, gaming stocks, you dont replicate the lunar Holiday Travel thats not coming back that is destroyed, but whens delayed consumption is semiconductors, apple, nike. And i think our concern over is justified. And recapture a lot of the lost production that was lost because chinas been shut down for most of the First Quarter what about you . When we look at Something Like the coronavirus, i think the important question for us is what effect does that happen on companys earnings and is that effect trenz torre or not we think create an opportunity to buy some things semiconductors, probably sot opportunities there. So talk to me about some of the sectors that have been doing well whether its the growthiest of the growth sectors or the ones that arent particularly growthy like you tillties. Is it too late to play there or what yeah, its amazing, tyler thats a perfect question. You look at growth and its been hyper active since october a lot of the momentum names are up 30, 40, 50 the s p being up about 15 since that time frame. That defensive play, utilities, staples, reet, thats the search for yield. When you look at utilities, it trades about 25 times. Its throwing out the dif dent thats less than 3 . Its usually 5. 5 or 6 very stretched in terms of thinking about being defensive, i wouldnt wander into that pool right now i think the defensive sectors have gotten too expensive. If youre staying way awake at night concerned about coronavirus, id rather see you raise cash than rush into utilities. Eric, you mentioned semiconductors are you looking to buy things that are hard hit on coronavirus here with an eye towards the longer term . Yeah, things like semiconductor on semiconductor, e we take advantage of those Higher Quality names if they do see the pullback because of the coronavirus pick up andthis will pass well see more inflation and higher rate, which would be a detriment to utilities and Consumer Staples that said, look at where the tenyear yield is. It doesnt seem to be pricing in any inflation. Its hard b to believe that we started the year out at 1. 9 though and here we are at 1. 5. I think you could see a pullback in some housing stocks that have done well this year and you could see things like utilities and those Consumer Staples really get hit and things go back into consumer stocks in some of the industrials and i think we would look at some areas within technology where were really seeing major productivity gains. Thank you, we appreciate it all right, if we start to see the market sell off and the coronavirus fears really start to pick up, how likely is it that the Federal Reserve might make a move . Steve liesman has been talking with richard this morning. Steve. Thanks. The fed vice chairman throwing some cold water on the markets certainty of a rate cut pointing out that while futures might be pricing it in, thats not the case for many analysts and economists what i prefer to do is to also look at surveys that many foeb folks do of Market Participants theres a b probablity of o outcomes, but i dont think when you ask votes, theyre pricing in that rate cut even though Market Pricing might suggest that to be b sure, he wasnt saying there would or wasnt be a cwunt be a cut. He said the economy is in good shape and the fed is closely monitoring the coronavirus and how it could affect the United States supply chains are very important so to the extent theyre disrupted by the coronavirus, that could show up in terms of input to the u. S. Economy. And you have the effect of overall global activity. The fed wants to know he said is whether the impact of the virus causes a, wait for it, material reassessment of the feds Economic Outlook we talk about that in a second so far he said thats not the case and its too soon to tell if it will be. In order, you think youre going to go 2 i think going to grow at one once i x out some of the extraordinary items like the First Quarter impact of the corona, its a down shift to one or upshift to three. Or a time thats what everyone was trying to decipher yesterday in the fed minutes. Let me tell you now, despite what he said today, the probablity of a july cut is a little higher now at 63 so if his intention was to talk down the market, which im not saying thats what it was, then he hasnt really succeeded in that it goes up to 86 by december. By december all right, steve, thank you. Twit ter taking new steps to combat lies and misnation. Lets get to yule julia with the details. Twitter is experimenting with a different way to identify lies in speeches by politicians and public figures by adding brightly colored labels. This is a leaked demo first acquired by nbc news it shows one way the Company Might identify misinformation. With these orange and red badges displayed below tweets take a look at this image. It shows a tweet about whistle blowers, one u b about gun background checks by Bernie Sanders with effective warnings and fact checks beneath them now falsehoods would be identified by Fact Checkers and verified journalists with the possibility of a Community Reports feature that would work somewhat like wikileaks. They say this test is one part of the to better identify information. It is planning to roll out a policy on misleading information on march5th. Twitter telling us quote, were exploring a number of ways to address misinformation and provide more context for tweets on twitter a spokesperson said well be testing many different ways to address it it is worth noting here that as of november 22nd, twitter stopped accepting any political ads. Back to you. So, how in the first place is socalled misleading information going to be identified on twitter . Do we know theyre not going to be able to do it for everyone and what theyre focusing on is the tweets by politicians and public figures. I think they would go through and look particularly at the president ial campaign. Look at candidates look at people who have a lot of followers and were talking about government figures with a lot of followers talking about the spread of fake news and misinformation and to go tu and have a team of Fact Checkersers and have a community report, allow parttime to report in and then have Fact Checkers check if something seems inaccurate or misleading it would probably be a combination of professional Fact Checkers, journalists then twitters users. Thank you very much julia borsen in california coming up, Bernie Sanders now the democratic frontrunner, but the markets seem to think even if he wins the presidency, wont be able to make all the changes he talks about well hear something who says wait a minute, he can. But first, Morgan Stanley buying e trade. What it means for investors liki y oyo nghr. Xt on power lunch. 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. Which of your devices are protected by daily security updates . Daily security updates. Daily . I dont know. The only thing. Im struggling with this. Some providers you have to manually download updates to each device. Comcast business securityedge updates every 10 minutes to help keep your connected devices protected against new ransomware, malware and phishing threats. Every 10 minutes feels pretty good. Get secure, reliable internet and voice for an amazing price. Call today. Comcast business. Morgan stanley acquiring e trade for 13 billion, the biggest takeover since the financial krois is Morgan Stanley will make a play for the masses as the bank will absorb the 5. 2 million customer accounts and a leading business that manages corporate stock plans. Earlier, james gormen spoke about the benefits of the deal they have yop line banking, we can roll out to 3 million b clients now. A level we havent been able to do they have 60 billion of deposits 40 billion on balance sheet. Were able to do things with that with our funding. They have a tremendous number of clients who lead the organization we can be their financial adviser. We can put research on their platform, alternatives on their platform all right, joining us now to discuss is jeff hart and our huh san. Welcome to both. You say that Goldman Sachs took a look at this and passed. We just reported on cnbc. Com that yes, everybody knew this was an asset available for sale. They looked at it and decided to pass jeff, were they right to pass and was Morgan Stanley right to buy . Goldman said they looked at everything this was a known asset for sale so i would imagine they looked at it, but i think from a fit perspective, they were right to pass goldman is building it organically and dont have the network to feed it with so probably didnt make as much sense for goldman but i think it makes sense for Morgan Stanley economics a little strained, but its a pretty nice fit so was the price right as far as you could tell . Theres kind of two ways im looking at a one, just straight off price they paid depending on how you include expense synergies, somewhere around 11 times forward earnings which doesnt seem unreasonable. The problem is theyre paying a Morgan Stanley stock trading closer to nine times forward earnings that kind of makes the math a little tougher and theres not a lot of cost to come out here again, thats not real surprising because theres not a lot of overlap theyre still going to market the e trade brand, b keep the e trade Software Systems there, but 400 million of expen saves is lower than id like to see in Something Like this. So you put those two together, i think the price is reasonable but im not crazy about a three year earn back and mike said he preferred goldman the to morgan. He likes the way they are building it internally instead of buying it heres what roger altman said. He said Morgan Stanley has been leading the transformation from whole sail sale to retail bankig i think this was a smart move and consistent with the vision of the ceo in a swooping movement have increased their scale quite massively. Its interesting theyre going down market, right, for the mom and pop, the day trader. Instead of their current clientele is people with 1 to 10 million in assets in Wealth Management and here they are going for much smaller which is kind of a question i would have let me get jeff in on this then come back to you my guess is that the upmarket Morgan Stanley Advisory Team and brokers and so forth are less than thrilled that this company is going to combine now with a more down or middle market Mortgage Company what do you think are the cultural challenge, jeff, if any here i mean certainly anytime theres a merger, theres cultural challenges, but theyre not necessarily trying to take the Morgan Stanley financial adviser, turn them into an online broker. So i think when you look at Morgan Stanleys kind of core business there, its a true wealthing management business. E trade, its more of a trade ing and Digital Business bchl i dont think there will be all that much of an overlap and actually at the end of the day to the extent Morgan Stanley has clients that want to be trading online, now they have a really Good Platform to do it on where they didnt before do you agree . When you talk to any financial adviser, they dont like any of these efforts these were competitors i think the saving grace is theyre going to keep it with their own brand with e trade. So its not as though the lines will be blurred. This is e trade. Its going to remain e trade. Were Morgan Stanley were a little different than them e trades fine for smaller clients. Gentlemen, thanks very much hugh, great the see you and jeff, appreciate it. And coming up on power lunch, more on todays sudden market selloff we have the stocks bouncing back at this hour, but well get the traders take and the chips are getting chopped. An analyst says its time for a breather the stock is up 140 well take a closer look 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. Its time for trading nation welcome back to power lunch. Another one time amd bull trading cautious calling for equal weight and a breather the street is now its most cautious on amd in four years. Down 2 today. Lets bring in the trading nation team. Would you believe were looking at almost a 50year chart here first started training in 1972 but what weve seen after that massive run up was a consolidation that began in 2000 so has it come too far too fast . Perhaps. But lets drop down here look at the daily. Following that broke which was around the 38 level. That was the breakout. Looking at this move, we are overbought based on this channel. I hold the stock i am nervous this is what investors are going to have to square with if we pull back to the 38 mark, thats still deemed at spoupport that is still support then we should continue higher mike, what about the fundamentals yeah, this is a company thats no t had lot of good things to say. We dont own it now, i wish we had, b but this is trading nation wemt to know if we should buy it today. No its rich right now. Trades about 50 times earnings this year. 40 times next year now you get a lot of growth for that, but this is really a company that sells into the pc market that doesnt grow that much its been a sheer gain versus intels story and a Margin Expansion story. My fear is that the stock has run too far too fast but in addition to that, you know when does intel start punching back intel has a lot of clout still in this market and they could stay price cutting they could bring better product to market. Thats what i worry b about the most i would agree with the other guests that 38 is a good place to buy it at would i buy it here today . I wouldnt id wait for the pullback. For more trading nation, head to our website or follow us on twitter at trading nation. And ahead on power lunch, well continue to monitor the this Market Action today the dow dropped nearly 400 points in a sudden move down to the lows momentum stocks taking the biggest hits there Consumer Reports bumping up the rating on tesla. Thanks to the model 3 and Bernie Sanders coming out of last nights debate looking strong and dominating the field is a blue wave about to hit wall street all this when power lunch returns. Before we talk about taxsmart investing, whats new . Audreys expecting. Twins wed be closer to the twins. Change in plans. At fidelity, a change in plans is always part of the plan. Can we go get some ice cream . Alright, we gotta stop here first. From smarter atms, to after hours video tellers comcast business is connecting thousands of banks to technology that turns everyday transactions into extraordinary experiences. Hi there. How are you . Do you have any lollipops in there . laughing no, sorry. Were helping all kinds of businesses go beyond customer expectations. How can we help you . In geneva, the director general of World Health Organization showing cautious optimism about the slowing spread of the coronavirus outbreak zbr the data from china continue to show a decline in new confirmed cases. Once again, were encouraged by this trend, but this is no time for complacency. Meantime, the cdc saying this years flu vaccine is working well even as flu activity remains high across the United States, the agency estimating the flu shot has reduced flu related doctor visits among those who have gotten vaccinated the founder of the hair club for men has died he was famous for tv commercials where he showed off pictures before and after saying not only am i president , but im a client dead at the age of 38. Back to you. Thank you very much well stocks are are slowly climbing back from the big drop the dow is down about 200 points time for your power movers starting with dominos the stock is up 25 after it beats the street on earnings and revenue. Analysts say iing these numbers can fend off the competition presented by food delivery companies. Up 75 a share were 25 right now. Stamps. Com com having its best day in 20 years. Earnings more than doubled what analysts expected and raising guidance for 2020, but the stock still hasnt recovered the ground it lost last year when they said it was ending its deal with the postal service. Then we end with viacom cbs, laying out its plan for a three tiered streaming service and a more premium pay option as well. The oil market is closing for the day. Lets go to rahel. So despite the sell off of stocks today due to highend concerns over the coronavirus, oil is in the green so this is thanks to a smaller than expected rise in crude inventories. From analysts was a 2. 5 million rise also helping, measures to help stimulate borrowing. So crude hasnt declined in seven days the longest streak in a year brent crude settling up almost. 4. Guys, back to you. Thank you the democratic debate, more than just a sparring match the gloves came off in las vegas, tracking the improved chances that Bernie Sanders will win the nomination with joe bidens chances sinking during the past 30 days sanders odds are jumping ahead of Michael Bloomberg he thinks markets need to take the senators proposals more seriously. How seriously . Happy to be here. Talk to us about what you think it could be . I think the market is underappreciating the risk here. People are one, discounting his ability to win the nomination. And i think theres reason to be skeptical. However, donald trump showed us four years ago that really the conventional wisdom doesnt always work out. And the uncongress vengsal candidate can prevail and i think when the market looks at bernie, they say okay, if the senator does get the nomination and he does win, well just that gra gridlock but theres a lot he can do on his own and much of that would be bad for the market and i think part of your thesis is if im understanding correctly, that the idea th that if if turnout is heavy enough to collect a president sanders, that it might well be heavy enough to flip the senate the trats way and hold on to the house. Its difficult to see how they could win the white house and not bring the senate with him. There are enough senate seats in play that if theres that kind of turnout and momentum that can get a selfdescribed democratic socialist elected as president of the United States, thep i think you have to assume the senate goes goes democratic as well youve identified two stock groups that you think are vulnerable to a Sanders Administration and of course were way ahead of ourselves here, but you know, its only ten months away or whatever the election is. S one u would be banks because he wants to break up big banks by limiting their size wouldi effectively destroy the juggernauts like chase and wells fargo and so forth and another way is by restoring the glasssteagall act which separated conventional commercial banking and Investment Banking those are two of his big priorities on the Financial Services front and when you look at banks need to be capped at 30 , that would mean your biggest banks are jpmorgan, citigroup, bank of america would have to be split into thee. People would say well you need legislation for that, the senate would never go along but you can do a lot through control of the regulators. Both through owners Capital Requirements that kick in as banks get larger as well as actually use of Systemic Risk to address size. So. One of which is talking about federal rent control also this idea he would end House Flipping by imposing different taxes on them what are some of the impacts you think the sector should be thinking about its a great talking point but even as the senate goes democratic, i dont see a majority for that. As donald trump learned, its one thing to talk about things on the campaign trail, but republicans couldnt repeal obama care so the idea that sanders is going to get things are contentious within the Democratic Party done seem hard. I would put control in that as well as some of his broader legislative demands. What can happen though is he can use the fha program and cut those prices and really steer more of the Mortgage Market into the government and out of the private sector theres a lot of price controls in the sanders pl platform a cap on interest rates. Cap on fees. At the atm to 2 not going complain, but thats the federal government saying you cant charge more than that and other, and federal rent control. Regulating the price of apartments around the country. He is what he describes himself as a democratic socialist heshls corporations have too much power he has a requirement in there that Companies Give 20 of the equity to employees then employees be on the board of drirector rs he has a different mind set than what were used to very much an activist government type. And his wealth tax rises up to 8 on wealth above 10 billion so that would mean im not going to cry for the person who has 10 billion. They would be paying 800 million a year in tax. Right . I wish i had that problem i dont mean t i dont, but u those are the types of policies where we tried really high taxes in the 1960s and it did stifle innovation and i worry about the ram any kagss of his agenda. That said, we know that this is what Bernie Sanders is and if people vote for it, thats what theyre vote iing f. All right jared, thanks very much. Appreciate it. Thank you nearly half of u. S. States raising their minimum wages for 2020 and several cities are as well what kind of impact is that having on Small Businesses kate rogers has the results of our cnbc survey Monkey Small Business survey, kate. We are out with our cnbc survey monkey poll and main street is watching that wage issue very closely now nearly half of Small Business owners said that minimum wage hikes will have some kind of impact on their business in to 2020. Small Business Owners arent under the impression theyd need to pay more. They were asked would you be expected to pay their replacement to do the same job 14 said they would expect to pay more and 15 of retail Small Business owners said they would expect to pay the new hire less. It was about moving to more neutral positions. Back to you. Thank you, kate now to the bond market where rick is tracking the action at the cme. Busy day, rick in every sector start out with interest rates. On the 31st of january is 150 plus making trade nervous the next area is around 146. Look at a year to date chart and hope your retirement portfolio returns dont look like that it has just been sliding all year hovering at 34month low currently. Look at the dollar yen were at an eightmonth high finally a will the of talk about what happened in stocks. Heres my theory a lot was technical. Yesterday was above the previous days entire range so once we trade under the low today, boy, uncertainty breeds nervousness and that breeds sell stocks. Thats what it looks like to me. Back to you. Thank you for the invigt, rick santelli. Coming up, the nfl owners want more gains the players want more money. Will they be able to bridge the gap and reach a deal and on our tasting menu, hard settler goes flat. Tesla gets a new fan and billions going up in space a 17th regularseason game more playoff games, butto get the players to agree, its going to cost the owners eric has the details it could change the way the season is is structured in 2020. The owners are meeting right now in downtown manhattan. I talked to my source 40 minutes ago as they were taking role call this is a 2 00 p. M. Eastern meeting. The committee that worked on this deal, theyre present tog a full list of owners and if they like the deal, theyll vote on it it comes with an expanded play out. We have 12 teams that make the playoffs this deal would do 14. You get the two extra games. Thats 75 million from those games they could get you would get a 17game regularseason so of course the owners want more regularseason fwams. In order to do that, they would take away a preseason game theyd get rid of some joint practices. To do this, the players would get an extra percentage point from 47 up to 48 on the Overall League revenues and if they have some other things kicking, theyd get 48. 5 so there would be more revenue for the league and a higher cut for players theyd also get higher minimum salaries theyd get significant ones here so thats the trade off. Sounds like a positives, but the one maybe not such a good road to go down is expanding the number of playoff teams. You would think its a great idea, but as we saw with the mlb and the way theyre trying to tweak playoff, does it end up becoming too distracting or diet luted . You get more fans youre basically a mediocre team seven and nine teeps getting into the playoffs. I think it dilutes it but theyre trying to make money games and more games is how you make money literally more games you can keep watching. More total time of games see you later lets get to thing menu here are some of the other stories wee following. Boston ben beer is losing its fizz shares of the brand are down after reporting weak earnings and guidance, but the company saw strong growth with its truly settler brand. I tasted not this, i dont know which one ied white claw i was at a hatchet throwing event. More good news for tesla today. The Consumer Reports team names the model three a top pick among vehicles with a sicker price between 45 and 55,000 big step for tesla, which has faced criticism for Consumer Reports in the past. Shares of tesla heading lower with the broader market, down about 3 thats a stiff move for tesla. Tesla at one point i believe in Consumer Reports had a perfect score then there have been i guess some quality issues that caused the score to come down. Now back up into the remmed category thats a big deal because a lot of people who arent sure about the stock always go back to the car itself. Is it a good kroodriving experie is it safe it does move the needle. Important endorsement and President Trump giving his space force a big budget the white house and department of defense proposing a 15. 4 billion budget for 2021 with more than 2 billi 2 billion goi the space force. The funding could reach 5 billion by 2025. Theres been a big focus on space lately, especially given Virgin Galactics wild ride this year that stock down b about a half a percent. Both struggling as the market hit the lows earlier, but theyve been a big independent kart they have been showy stocks stocks now clawing back after a sudden sharp drop today. Well get a traders take on just what happened stay with us well be right back. New york state is taking business to the next level. Supporting Innovative Companies that will shape tomorrow and Building Workforce development and tuitionfree College Programs to generate the talent companies need. With a 150 billion investment in state of the art, modern infrastructure, and a nationleading commitment to lowcost clean energy, new york is doing more than any other state to build for the future of your business. New york state, the state of the future. Learn more at esd. Ny. Gov. Tostocks retreating, at one point down 400 points. Were now climbing back. How worried should investors be about todays major swings lets get a traders take with jim iuorio is this action today a speed bump on an otherwise open road or something more dangerous . I think so. Here, the worrisome part is alltime highs, we made new highs, made new lows it looks like were going to close better if we were pulling back the wallpaper to see where people had too much risk on, i think we would have soon a more volatile downmore if we go lower tomorrow, i think it might be a precursor to a correction, but more important is the comeback. If i thought anything was structurally wrong record highs earlier in the week. What do you think tripped the market today other than the level of prices . Is it as simple as that . Nobody has pointed to any proximate news cause. It seemed like acouple headlines, goldman talking about being too complacent about the coronavirus. There was news out of the beijing with more cases being reported and theres a mistrust of china in general when we hear that, and we came in weaker last night. I dont mean to be political at all, but the market would much prefer if Michael Bloomberg did better in the debate those three headlines by themselves, or even together, arent enough, but you couple that with market position, and people not appreciating risk, and every once in a while the market has to smack you in the face thats what it did today, but in a shortterm basis. Do you think the market has underestimated the coyronavirus . Yes, i think so i think Central Banks plan on throwing money at the problem versus the impact. Whats going to win is interesting to me. When you have seened yen plummet and the dollar move so much higher, it seems that the u. S. Will end up winning, because all these centering pages are throwing so much at the problem, and the error will be more on the dovish side. It seems like on the short term, the stock market will get hurt, but people will say what are we going to buy and the Chinese Central Bank has been very accommodative. Sure. The rumors are theyre going to even continue that and move. Weve seen oil come back, and thats a combination of chinese along with opec jawboning. Oil is 54, where it was just a couple weeks ago, maybe one week ago. The story of the day may be how well we returned to reasonable levels jim, thanks very much. Always good to see you. Thank you, tyler. Jim iuorio. Dont go anywhere. Check please is next and dont forget you can always watch or listen to us on the cnbc app well be right back. the sun is risin as the day begins time for reflectin on family and friends and hey, we got somethin just for you sniffing its a cup of your favoriiiite. loud splashing highpitched laughter dang woodchucks with geico, the savings keep on going. Just like this sequel. 15 minutes could save you 15 or more on Car Insurance. The unparalleled landscape of park city, or the famed peaks of whistler, youve faced the hassle of lugging your gear through the airport. With ship skis, youre just a few clicks away from having your skis, snowboard and luggage shipped from your doorstep to your destination. With unrivaled pricing, real time tracking ship skis delivers, hassle free. Ship ahead and go catch those first tracks on fresh snow. Ship skis. Your skis. Delivered. On a flexible wealth plan. And with new brokerage accounts, your cash is automatically invested at a rate thats at least 20 times more than other advisory firms. Personalized advice. Unmatched value. At fidelity, you can have both. The new rx. Crafted by lexus. Lease the 2020 rx 350 for 419 a month for 36 months. Experience amazing at your lexus dealer. Welcome back rahel solomon has the break. Theyre both down more than 2 wynn is down about 2. 5 , sands down about 2. 4 . This is even as they begin reopening casinos in macao of course theyve been battered with the fears of the coronavirus, especially with the shutdown of gaming sands has 63 of its revenue from macao, and another percent from singapore wynn is still down more than 12 over the past month, but theyre dipping today, even as they reopen in that key region. Thank you, rahel, very much i think it will be interesting to see how the falloff in chinese tourism affects travel, leisurely and and also here in the u. S am i doing the debate ratings . I guess i am around 20 million on television, 13 million streaming live to watch that funfest out in las vegas. You know, they were all ready to go to the buffet by the end of that just to blow off some steam we talked yesterday, it doesnt tart until 9 00 eastern time, a bit on the later side. I certainly stayed up to watch it, and was rewarded for doing so it was incredibly contentious. It was by far the most interesting of the debate, because the gloves came out. Yet everybody in a way came away from looking poorly because of it so the real conundrum to say, yes, you can make points, but if its i heard that point made on our sister channel msnbc, that the democrats didnt do themselves any favor by appearing as they did. And we were going to mention the crazy activity in space today, but most active stock is virgin blackive. Up, down, up again. Thanks for watching power lunch, everybody. Closing bell is right now. Welcome, everyone to closing bell. Im sara eisen im at the Morgan Stanley post more than that after its big deal to buy etrade. More from wilfreds interview with the ceo coming up as for the overall market, lower, but well off the sharp drop that we saw earlier as far as the intraday lows were all over the swing. We certainly are. Good afternoon to you. Lets look at whats driving the
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