Investment idea right now. It may vice you. And later hidden housing play. Why one options trader says in builder breakout is about to get hammered but we begin with big new developments on boeing the stock falling hard taking the dow down a former employee may have misread regulators about the safety of 737 max planes phil lebeau has been following the story joining us from chicago. You see the sausage being made my photographer handing me new documents we received from capitol hill regarding what a former chief technical pilot for boeing may have known when the m cast system, crucial to the 737 max was being developed. This all goes back to 2016 messages turned over on capitol hill in one of the messages he says oh, shocker alert, mcas is active down to m2 its running rampant in the sim on me. The sim referring to the simulator. Theyre in the process of developing the mcas in 2016. A couple of texts later or messages later he messages a coworker, so i basically lied to the regulators
Sources telling Cnbc Softbank is coming to the rescue and will take control of the company. Josh lipton has all the details. Melissa, thats right a new dramatic twist in wework story here cnbc is now reporting that softbank is in advanced talks to take control of wework, thats what sources are telling cnbcs own david faber, a deal could be announced as soon as tomorrow. It is softbank led by japanese billionaire masasan taking control here, after the move softbank would control nearly 80 of wework, prior to the takeover, softbank already invested nearly 11 billion in the company. Softbank economic marcello clarette will be involved in the companys management, former ceo adam newmans stake will fall to low double digits. Last month wework terminated plans to go public the prospectus revealed a huge 900 million loss in the First Six Months of 2019 Corporate Governance practices also causing concern thank you, josh lipton in San Francisco with the latest on wework talk about a down round
Barbara duran from bd8 capital markets. Thank you for joining us today weve got a lot of forces at play again another kind of side waist market, but some Risk Appetite if you look at whats moving higher today i agree with that i think that the action has been very constructive. And i think whats going on is youve seen the earnings expectations come down you had just a little sample last week, but majority of Companies Beat earnings and the most important thing, i think, was jpmorgan and American Express talking about the strength of the consumer in loans and spending and thats really the underpinning to the economy. And so we also know the fed, they have a meeting coming up. Im not expecting them to cut rates, but they have made it clear they stand ready and i think that forms an underpinning for the market. And not to mention china we have a little truce there i think we were all expecting some more down babeat commentar from what weve heard so far but so far, its been okay maybe rest
Climbing ill tell you how its done. Market reached unheard of levels by triumphing over the concerns that caused Money Managers to stay on the sidelines to buy lower prices often hear we climb a wall of worry to get to exhausted levels but today we just didnt scale a wall but beached and busted through mine fields, force fields and cauldrons of boiling oil. This is a quite bull market. Tonight i want to go over obstacles weve overcome amazing list, outside of president on twitter seems to be celebrating is down. Challenges conquered thats a graphic obstacle number one, impeachment. I told you wouldnt matter to stock market based on bill clinton. Buying opportunity, not selling. But sitting president incredibly pro business and House Democrats are trying to take him down and stock market is ignoring whole process, maybe should impeach all president s works out for the averages obstacle number two, recession fears. Job growth is still robust versus the historical norm but over the summer
Ahead of the trade talks in washington we just heard from President Trump on those trade talks lets get straight to kayla in dc with the latest. The markets have been whipsawing all day in response to chinese officials telegraphing exactly how they feel about the trade talks earlier today we had chinese officials telling bloomberg theyre open to a partial deal even though theyre frustrated by the black listing of 28 security and technology companies. Then we had a report about purchases of soybeans. Then we had a reuters report later in the day that said that chinese officials because of the black lifting by the commerce department, they are lowering their expectations for the outcome of these trade talks perhaps a shot across the bow to the u. S. Government as it tries to figure out exactly what to do behind closed doors and what potential truce, deal or no deal to accept or leave on the cutting room floor as it were. That report significantly moved the market perhaps the intention of