1 you see it there at. 89. An amazing day yes, it is. Thank you so much. Welcome to power lunch. We have all the angles of this historic sell off covered. Bob is watching stocks for us. Rick tracking the historic lows in bond yields all eyes are on the trump administrations response and stooefr steve is on the feds next move. Well start with bob were back at the lows for the day. That 7 level becoming important because of the Circuit Breakers. We had the halt at 9 33 eastern time lets review the Circuit Breakers because they were very important this morning these are long history but only used once. Level one down 7 . We saw that at 9 33. Theres no other halt if were down 7 . Next level is down 13 that would be another 15 minutes until 3 25 p. M. Eastern time and there would be no trading halt at all unless we went to level 3 down 20 that would halt trading for the rest of the day. These Circuit Breakers had a long history this goes back to 1987 remember that 22 drop everybody said we
I showed them other articles too where governors, democrat governors are saying we have done a fantastic job Gavin Newsome said theres not a thing hes asked for that we werent able to get limb it was a positive statement. Many democrat governors have said the task force and the federal government, what we have done has been terrific [ inaudible question ] this was unexpected this came out of china and hit us and many other countries. You look at the numbers. I see numbers just by watching you folks. I see its over 100 different countries. It hit the world were prepared and doing a great job with it. It will go away. Just calm. We want to protect our shipping industry our cruise ships we want to protect our Airline Industry everybody has to be vigilant and careful. Be calm. Its really working out. A will the of good things will happen the consumer is ready. The consumer has never been in a better position than they are now. A will the of good things will happen thank you very much. The
Up well dig into that. Celebrity chef eric ripert joins us live. It is going a big hour ahead but we begin with that massive shakeup in whats called the corporate story of the year. The most important stock in the dow. Boeing firing ceo over the 737 max crisis and poor communication with investors and regulators it cost his job. Removal is effective David Calhoun will take over as ceo in january some might say this is a complete 180 from what 180 and muhlenberg just said last month. From the Vantage Point of our board dennis has done everything right. From the beginning remember dennis didnt create this problem but from the ginger knew that mcas should to be done better. Have you ever satin company and thought you should leave i thought about it. To be frank thats not what is in my character. I dont see running away from a challenge, resigning as a right solution lets bring in our airline repo reporter and our cnbc contributor. Right move by boeing, right timing, overdone, too late a l
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 in
Is there freedom of speech when you work for a big company not. Well debate the profits go to pot quite literally. Cnbcs marcus limonus goes inside californias market he is going to give us a sneak peek power lunch starts right now welcome, everybody, to power lunch. Im Tyler Mathisen i am never disappointed when jeff done lunlop is on fasfas one more time, the dow is at record, 22,135 on the verge of an 11day win streak and potentially its tenth Straight Record close. The s p 500 joining the party. Record interday high there up three points or. 14 check out some movers. Fibrogen, up 50 and on pace for its best daily performance ever, overwhelmingly positive Clinical Data on its lung fibrosis drug flip side, dean20 meanwhile, chipotle, lowest level in four years at 336. 50. Trouble more for chipotle. Brian . Hey, tyler, im Brian Sullivan in kenosha, wisconsin. We are here for one reason there is no state that delivered the presidency to donald j. Trump more than wisconsin did. There is