The force is strong with this one. So are some of the technical glitches a rocky start for disneys new streaming service. Worldwide exchange begins right now. Arguably the best song of the year by luna welcome. I am Brian Sullivan. It is wednesday, november 13, 2019 futures now are down dow futures are off about 112 points no big news driving that maybe it is impeachment or Something Else or is that the markets will go higher every day. The nasdaq posting another record high. Get this, the dow was literally unchanged yesterday. That is the first time that has happened since april 2014 and only the third time in the last 19 years to finish exactly 0. 0. Think about that you did it there you go bond market over the last couple of weeks go up overnight in asia, down day in japan. Not today, it lost about. 8 protests spiraling out of control. Well get more on this in a minute not really, a lot of red in the screen it has been a good year for these markets as well. More in moments but first, political news which could begin shaping wall street as well. That is impeachment. President trump bracing for day one of the hearings. Those are set to begin at 10 00 a. M. Eastern time today. Jay gray joining us with what we might expect good morning. You talk about the markets and the nation preparing for and waiting to see what happens. Today marks a big shift in the process and a big test is the nation as interested or as intense as lawmakers begin in the process of impeachment the process begins today with bill taylor, lead u. S. Diplomat and george kent, a senior state advisor. Those are the first two witnesses that will be questioned by lawmakers as well as staff lawyers many of those already involved behind the scenes questioning many of the witnesses in private depositions. The public hearings will continue friday. We learn last night there will be at least three more public sessions one tuesday, wednesday and thursday of next week. This is a high profile public test for impeachment on both sides as well as the white house watching closely big story there thank you very much. It is not just the impeachment inquiry. Checking out the other stories that could weigh on that fed chairman jay powell offering the platform to respond to President Trumps attacks at the Economic Club of new york yesterday. We are actively competing with nations who openly cut Interest Rates so now many are getting paid when they payoff their loan, known as negative interest whoever heard of such a thing. Give me some of that i want some of that money. Our Federal Reserve doesnt let us do it thank you. Thank you. The smart people are clapping. We are following news this morning that the Trump Administration is continuing to work on the tax cut 2. 0 Program Possibly lowering the taxes to 15 . Look, the president has asked me to pursue something called tax cuts 2. 0 my pleasure. I think our tax cut could always use plenty of pro growth reforms. I dont want to be specific on anything it is too close for that and then on trade saying, quote, significant trade report could happen soon. But many are struggling to come to terms with a limited deal with the report emerging as the primary stumbling block. Joining us to make sense of it all is bill stone. We are pleased to have you on set this morning good to see you. Good morning. Thanks youve got impeachment. Continuing trade hikes what in your mind of those things or Something Else will be the primary driver the big thing and i think what the market is telling you is that the Global Economy seems to be at least stabilizing and pran perhaps Getting Better japan has been trading really well japan lives off Global Growth and trade. They dont live off their own domestic growth. Maybe japan which weve been talking for a moncouple of monts is the leading indicator i think you can look at a lot of these places acting better, i think all of that sends you that signal that we may be getting through this slower patch in economic growth. It is easy to be confused especially at 5 07 in the morning, which i often am. Stock prices are supposed to be the future value of earnings true. One thing is that Third Quarter was the toughest comparisons so yes, we are going to be down roughly 2. 5 earnings came in lower than expected to me, it is all about moving on to next year looking at almost 10 Earnings Growth i would say that is probably too high s even if you get midto high double digits, that is phenomenal real Growth Numbers were pretty good i think the question is, are we going to go into some kind of a meaningful economic down turn which would cut things further or do you think earnings prove this economy may stay stronger than we think for a little longer than we think youve seen, i believe consensus is moved away from beg so sure of the consensus in 2020 talking to you about the fact that we didnt think he was commenting and more coming alongside of it. Now you are getting to other parts of the world that seem to be bottoming in other parts of the world. What are some of the best parts of the market here and globally to develop in now . I think you are seeing in the industrials. I think Consumer Discretionary looks good well get retail salen the u. S. Are plentiful usually when that happens even in the phase of am son. Com i think youll see across the board some spending. You spend a lot of time in houston. A lot of oil and Gas Companies there. Theyve been destroyed in specific names, those have been tough those have a really hard time. Thank you for being with us well see you soon lets get a look at other top stories you need to know a regular lator is opening an inquiry into project nightingale. Health and Human Services department will seek to, quote, learn more about this massive investigation into medical records. Also today, new developments in alibabas hong kong ipo. Raising up to a reported 15 billion. Former hbo chairman reportedly in advanced talks to sign a new deal with apples new apple plus the new company would create original content the deal would be finalized in the next few weeks speaking of china. Developing story there as antigovernment protesters again taking to the streets for the Third Straight day city closingkey hubs, schools and businesses protesters ramp up their businesses well go live now to hong kong reporter businesses in Hong Kong Foreign and local are in a tough spot not only because of the down turn but also because protesters have started to label businesses as proprotester or progovernment based on how friendly the business is to demonstrators. There are several lists being spread on social media and through an app called whats gap. Businesses are given color rating yellow is protester friendly, blue or black is pro police and green is neutral this is a way to safe guard some of the businesses but as a side effect, it is starting to taint other companies as progovernment. One of them is mcdonalds because a protester suspected a store cooperated with police, so it got a progovernment rating. The other, japanese noodle company. And finally starbucks doesnt have a rating but manys shops have been vandalized in the past couple of months. This is more of guilt by association. The protesters dont have a problem with starbucks but a major problem with one local supplier owned by a family the daughter has been very vocal about her criticism of the protesters businesses are trying to shy very far away from talking about politics at all but there are some local Companies Going all in with the protesters one restaurant has come up with several new names for dishes no separation noodles. Hong kongers will win rice and freedom stir fry comes with chicken wings. At least one company is trying to make light of it certainly a big intersection coming together full forced there in hong kong always always, a pleasure. Thank yo when we come back, disney a wee bit of a rough start and smile dir doing something no other ipo has ever done and it is not good news. Coming in at number five, italy. The National Index up 28 despite continued woes in banking. The rpsisuring top four when Worldwide Exchange returns the. Sales guy, give em the employee price, then gimme your foot. Handsfree sliding doors, stow n go seats, man, yall getting a hook up and yall dont even work here. Pacificaaaaa whether your beauty routine is 3or 57,. Make natures bounty hair skin and nails step one. Its the number one brand uniquely formulated for silky hair, glowing skin and healthy nails. Natures bounty, because youre better off healthy. Nongmo, made with naturally sundown vitamins are all sourced colors and flavors and are gluten dairy free. Theyre all clean. All the time. Even if sometimes were not. Sundown vitamins. All clean. All the time. Welcome back. Time and temperature 5 17 and 25 degrees. Still dark go back to bed day one of the disney plus era is in the books but did not come without headaches hoping to stream some favorites or watch new shows. Rahel joining us now with disney pluss debut the debut was hit with some technical glitches the company says was caused by high demand its unclear how many could sign up and how many had trouble accessing. Some got a message asking them to exit and try again. Others even had trouble finding the service in apples app store. Disney said, the consumer demand has exceeded our highest expectations investors appear to welcome that stock closing up 1. 3 yesterday. For subscribers who were able to sign up with no issues, some are buzzing about the new show viewers are trying to find out the meaning of a surprise twist at the end of the First Episode and shows from pixar and national geographic. Should i give away that twist since i watched it last night. No, no. Let us have something. It was a good show. Surprisingly short like 25, 30 minutes long okay. So Brian Sullivan approved but just longer. I will not give away the twist. Stop, stop. Dont you have a show to be doing. Thank you on deck, could the buzz be wearing off . Another rough day ahead for this cannabis stock the name to watch ahead. The five College MajorsAmerican Students most regret picking according to zip recruiter the count down to the best stock performers around the world. Coming in at number four is jamaica. Up more than 30 this year italy five, jamaica four who are the top three . Well count yodo wn orwide exchange returns but in my mind im still 25. Thats why i take osteo biflex, to keep me moving the way i was made to. It nourishes and strengthens my joints for the long term. Osteo biflex now in triple strength plus magnesium. Lets get a look at some of the biggest individual stocks. Tilray reporting wider Third Quarter stocks an oversupply of cannabis stock hurting prices off another 3 right now smile direct reporting a bigger Third Quarter loss since going public in september. Their costs also rose. The on line dental company sees more losses this year. Shares already down more than 50 since going public one of the worse Public Offerings we have had in years sky works completing the trend also down around 4 . Down from 20 . Sky works special eyes in radio frequency chips. Most stocks to watch today are in the red record cold temperatures, snow, ice hammering all parts of the United States giving millions an early taste of winter. The ceo of the real real going on the defense of claims she spoke with jim cramer. Well have those comments when Worldwide Exchange returns next make fitness routine with pure protein. High protein. Low sugar. Tastes great high protein. Low sugar. So good high protein. Low sugar. Mmmm, birthday cake pure protein. The best combination for every fitness routine. Despite some record highs we are down 100 points on dow futures. S p and nasdaq are the same. When we come back, have oil stocks simply gotten too cheap to ignore. Well speak to one of the heads of oil and gas aetsss. The answer when Worldwide Exchange rolls on sundown vitamins are all nongmo, made with naturally sourced colors and flavors and are gluten dairy free. Theyre all clean. All the time. Even if sometimes were not. Sundown vitamins. All clean. All the time. Whether your beauty routine is 3or 57,. Make natures bounty hair skin and nails step one. Its the number one brand uniquely formulated for silky hair, glowing skin and healthy nails. Natures bounty, because youre better off healthy. Give me some of that money. Jay powell heading to the hill as trump slams the fed chair again. Will powell fight back trading like they are all going bankrupt will investors ever come back to stocks again or will fossil fuel simply fossilize will bitcoin ever get new remarks. A conversation youll only see here on cnbc you are watching Worldwide Exchange and we roll on now welcome back and good morning. It is cold 25 degrees in atlanta right now. That is like negative 50 for you there. 25 degrees in chicago. Ouch lets get a check on other big stories this morning including that deep freeze water gripping many of venice, italy. Maybe not the way they are used to the deep freeze bringing historic lows to millions. In michigan, digging out after being buried in more than 30 inches of snow roads are treacherous for drivers. Officials contributing at least five deaths on the poor conditions venice looks more like a swamp one of the hardest hit spots was st. Marks square where they were flooded for the sixth time in 12 years. The mlb is launching an investigation into the Houston Astros the team is accused of steali stealing using electronic equipment to monitor pitching signals. Stealing signs is not prohibited but using Electronic Devices to do so is they are recovering the world series loss and then this. Not necessarily the headline you want i will admit that. Frances rivera, thank you so much getting a check on the markets the dow did something yesterday something it did only three times in 10 years. Ending the session unchanged extremely rare not the case looking like that today because it is down 98 points they did post highs yesterday. Bond yells have come down a bit. Higher than even a month ago bond yields 1. 88 . Japanese market cooling off. More unrest in hong kong, violence continues to escalate we saw the Hong Kong Market down 1. 8 police in some cases now firing live rounds. European trade and the trend on your screen is a lot of red. The ceo of the real real, the largest on line luxury consignment business is admitting the company cannot live up to its claim and its merchandize is 100 real she defended the companys authentation process our investigation showed that staff hired as copywriters and not experts were evaluating whether high end clothing and accessories were indeed authentic products. Do you make your life hard by giving statements about how everything is real we know no one is perfect. Do you set yourself up to a level of criticism that may be justified because it is impossible to be perfect i agree it is impossible to be perfect we strive to be perfect ever day. The teams intention and the action and consumers tell us we are the safest place to shop on the internet going on to say copyrighters are trained on some of the lower risk items in october alone, some 4,000 items out of 40,000 were rejected Charles Shaub chwab spoke ou against warren warning her remarks undercut the contributions made to the charities. Nike to end selling on amazon the iea out with its world energy out look today. The group says growth in u. S. Shale Oil Production will reshape the market as the outlet slows, u. S. Will account for 85 of the increase of global oil in the next decade as many oil and gas stocks trade as if they were going bankrupt member of ipo and cnbc partner. It is great to see you again i think. This has been a very tough market you vest in how many wells, over 4,000 . 5,500. Is the u. S. Oil production eating itself . This is a sector that used to trade at eight to 10 times now rerated to four to six times. We can buy companies kind of the commanding heights of oil and gas company at 5 to 5. 5 times the cash flow right now. Those are numbers we looked for. We could buy eog at six times cash flow. And by the way, eog is something i hear the best companies in the entire space and yet are trading at values of 10 to 15 a barrel but below financial crisis lows . Weaker than in 09 there is a total come place an si about crude investors are telling you we dont believe the inventory are representing we dont believe we have 30 years of drilling. The global commodity market are saying, you can take off 5 to 6 of Global Supply and we dont care because the u. S. Has so much capacity. We look at core inventory in the u. S. That breaks in the basis, it breaks even we have 10 to 15 years of inventory left in some cases, some of these companies are trading at lower than the cost of land. You are getting the operation for free so we buy private oil and gas products you have to create this asset. You have to buy the asset on the ground cheaper than the cancho stock. Crude prices, sector rotation. Oil and gas is not overvalued right now. The third thing here is there should be fewer oil and Gas Companies. There should be an m a cycle. With their debt loads, there will be fewer in the next 10 to 12 months. If we look at bond caps that is not really showing you distress on the small cap side, the bond deals are about 17 . Chesapeake is a good company. In its earnings the other day mentioned the going concern. Admitting that it may go out of business or have to restructure