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tv   Fast Money Halftime Report  CNBC  March 23, 2016 12:00pm-1:01pm EDT

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agreed on over the course of these weeks of work which lead up to this visit. the first one, consistent with the pillar of the commitment i have entered into with my teams. we want argentina to have zero poverty. so the first agreement we sign seeks to boost exchanges in scholarships and teacher training. deepening work and development in science and technology and as regards, the creation of work which is something we touched up on this morning too, let me stress the importance of increasing trade between our two countries. argentina has a lot to offer and right now it has a very low level of trade exchange with the united states. it is very important for us to work together to enhance investments by your companies in
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argentina and also encouraging the development of smes which are the main generators of work. there again, i would like to congratulate you because for 72 consecutive months i'm told you have been creating work in your country and i hope argentina is embarking upon a similar cycle as part of which will permanantly create work for our people to live better. the other area we're engaged to working in together which is also the second axis or pillar for our government is dealing with and defeating drug trafficking. i mentioned this morning that in the past decade drug trafficking has advanced a lot so we are very happy to be able to start working together on that front to exchange information, technology, training and to really fight a relentless battle against organized crime and money laundering.
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also, within this frame work of respect and cooperation that i would like to thank you for is that only hours away from commemorating the anniversary of the military cou approximate that led to the darkest chapter in our history, at our request which was to have the files declassified you agreed to this. and we are thank you for this gesture. we all need and we are entitled to know what the truth is and for the argentinian people that's been a very clear indication that if we engage in dialogues with other countries and do so seriously and respectfully other countries will quickly respond and cooperate with our request and finally i would like to stress another part of our discussions
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as part of which you have also shown great leadership, very significant leadership which has to do with the defense and protection of our environment. the fight against clie pmate change. the progress in terms of disseminating renewable engineers and boosting them, this something that argentina is also joining and i deeply believe in this. i told you that as mayor of the city i learned about the importance of the green agenda and now i'm committed to make sure that our country also leads in the fight against climate change in the 21st century. i would like to end where i started by thanking you mr. president for your visit by saying i believe this is the beginning of a new phase of mature, intelligent, constructive relations in which the only concern for us both is to improve the quality of life for our people and i'm sure that
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by working together we'll achieve this. thank you very much and please feel at home. >> it's wonderful to be in argentina for the first time. i am impressed because he has moved rapidly. more sustainable and inclusive economic growth and reconnect argentina with the global economy and the world community
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and today in a show of confidence and millions of dollars in new investment in argentina. which can be part of the broader package of investment that can lead to new jobs and economic growth here in this country. and also his energy and also the willingness of people from different parties to work together and that's something that i know something about. political polarization. and i have told him and his team that the united states stands ready to work with argentina. through this historic transition. in anyway that we can. in anyway that we believe and you believe will be helpful.
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and it's traditional leadership role in the region and around the world. and in the ways we discussed the united states and argentina can be strong global partners to promote the universal values and interests that we share. we share a commitment to freedom and security at home and around the world and today the people of the united states and argentina stand with the belgian people and express our extraordinary sorrow for the losses that they have experienced and we understand the pain they feel and our countries as well have known the scourge of terrorism and we've
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seen our own citizens impacted by this senseless violence. as i told the belgian prime minister yesterday, the united states will continue to offer any assistance that we can to help investigate these attacks and bring attackers to justice and also continue to go after isil aggressively until it is removed from syria and removed from iraq and finally destroyed.
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to return to significant contributor in peace keeping missions and the united states is very proud to support this effort through training and equipment. the president has also committed argentina to help address the syrian refugee crisis and i hope that inspires other nations to do the same and i am very encouraged by his efforts to combat drug trafficking and reduce organized crime and make argentina's streets safer. these are areas where we can be very effective partners. the united states and argentina share a commitment to protecting the planet for our children, grand children and great grand children. he showed me pictures of his wonderful children including the little one who i understand was
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a facebook sensation and i can see why. so we want to make sure that she just like my daughters and future grandchildren, that they have the beauty of an argentina or united states that has not been irreversibly impacted by climate change. his support for the paris agreement was critical to its success. his commitment to sign the agreement will be critical to bricking into force. argentina has said impressive targets for producing clean energy and they plan ambitious targets for reducing carbon emissions and because we have experience since i came into office tripling the amount of energy that we get from wind and increasing the amount of energy that we get from solar power 20 times and the work we have done on oil and gas we are confident
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that we can be partners and i pledge any technical assistance that he thought would be useful in developing the incredible resources and clean energy strategies that he is interested in pursuing here in argentina. we also share a commitment to global health security. we have agreed to work together on our response to the zika virus which is obviously effecting so many in this hemisphere. we agree to support the broader health agenda including working together to improve capacity for vulnerable nations because in a world inner connected if there's diseases developing even remote villages in africa or asia because of global travel ultimately they could be a significant threat to our populations. we can't pretend that somehow it's just their problem. it is our problem as well. and we're going to work together to improve our capacity to
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respond and prevent new diseases. it's also to see them with human rights. i hope we work to strengthen the human states and government transparency and accountability throughout the hemisphere. it's been an area of great emphasis and finally after i leave today i'll visit and horrific bombing of the jewish community center almost 22 years ago. i told mr. macri that the united states offers whatever help we can to finally hold these attackers accountable and we will just to reiterate do the exact same thing in going after those who carried out those terrible attacks in belgium.
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i do recognize that this week marks the 40th anniversary of the military coupe and tomorrow to underscore our shared commitment to human rights. i'll visit memorial to the victims of the argentinian military dictatorship and recognize argentina's historic and continuing efforts to make things right. to make sure that we acknowledge the incredible courage of those that stood up. and to prove that this is more than just a symbolic gesture on my part. as he indicating i'm launching a new effort. and military and intelligence reports as well. on this anniversary and beyond we are absolutely determined to do our part as argentina continues to heal and move
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forward as one nation and trust that may have been lost between our two countries. that's a principle message not only for argentina but for the entire hemisphere. i also came from cuba. we put a great emphasis on making sure that some of the ideologies, the disputes of the past, that they are frankly acknowledged but that we also are able to look to the future and not just beline us. and that's why this visit for me, is so personally important. it's also important because i'm a fan of argentinian culture. when i was in college i read a lot of argentinian literature. and i am proud to announce that i just tried it for the first time because when i was in
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college i would read these people and they were drinking it and i didn't know what this was. so i knew that when i finally arrived i would try some and i just had some and it was quite good. so i may take some home with me when i go back to the united states. i don't know what kind of import and export controls i may be violating. but on air force one i can usually do what i want. so thank you very much mr. president. [ applause ] >> translator: so next we'll begin the planned press conference. first, for argentina newspaper
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will ask a question. >> make my questions in spanish. [ speaking spanish ] >> translator: the first question i'd like to ask of both presiden presidents and for president obama in particular, what is that role you assigned to president macri especially considering the serious situation brazil is going through and how do you view the current negotiation or how we call them here the as a ruvultus thank you very much. >> translator: so we have begun to look at ways to open up both agendas. this is a road now starting and i told president obama that exporting less than 1% of our industrial exports which means
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there is a lot of room for growth. >> i want to welcome all of you to the halftime report. we will jump back in just a moment where president obama and the president of argentina are holding a joint news conference. i do first want to bring in our chief washington correspondent john harwood who is live in washington d.c. john this visit by the president clearly underscores what is no doubt a new era in the relationship between these two countries. record to the united states relationship with the dictatorship in the 1970s and 1980s. let's go back to the president. he's talking now. >> as one of the most powerful, largest countries in the hemisphere. and needs to be a critical
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partner with us in order for us to not only help our own people but also to help promote prosperity in the region as a whole. and given president macri's interest in transparency. accountability, economic reform here in argentina, that he is setting an example for other countries in the hemisphere. and his engagement and willingness to have frank and constructive relations and conversations with the world's community. and climate change i think promises to heighten argentina's influence on the world stage in settings like the g-20.
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he is at the beginning of his administration. i'm coming to the end of mine. but what we can do is to start on an effective path that will sustain itself into the future. trade is an example of an area where we already organized a working group between our delegations. they're going to identify all the areas where there's barriers that impeded progress in our trading relationship and we will systematically work through those. organizing an entire free trade agreement maybe at the end of the process. i think at the beginning right now there's a lot of underbrush. a lot of unnecessary trade irritants and commercial irritants that can be clear
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addway administratively and that's some of the work that we intend to do right away. was there a second part of the question? oh, so with respect to the hold outs and the bond holders, this is working it's way through the court system and i know that president macri has also initiated a proposal that's being considered by your parliament. i prefer not to comment on the issue because of the nature of our legal system. these are judges typically that i point so in order for them to remain impartial if there's a pending case i do not talk about it publicly. what i can say, is that the constructive approach that president macri has taken, i think has opened up the possibility of a resolution and
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a resolution on this issue will stabilize argentina's financial relationship internationally in a way that can accelerate many of the other issues and to some degree this is high finance and ordinary people say why does this matter? because if you're talking about foreign investment, if you're talking about trade, if you're talk about all the things that ultimately matter to ordinary people because they produce jobs and they produce economic development and provide more revenue in order to invest in science and technology, that requires the financial stability that is so important. when i came into naufs 2008, the world financial system is going
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down the toilet as we say. we have to take a lot of efforts and make difficult choices but they weren't also possible at the time. our banks recovered faster than european banks and we started producing more jobs and sometimes short-term pain and taking decisive action early is the right thing to do rather than putting it up and then you end up having a whole set of problems. >> the first question will come from josh with the associated press. >> you resisted calls for fighting the iz lalic state and your critics aren't offering any
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better ideas but the attacks keep happening. did brussels change anything for you and if not, would you like to -- do you think that americans should see more attacks as being inevitable and what would you say that it says about the state of our debate on this when you have a major presidential candidate calling for surveillance of muslim american communities? and president macri, you both noted that the u.s. agreed to release more documents about the dirty war. what do you expect that those documents will reveal about america's role in this painful chapter in your country's history? >> josh, i think it is important to recognize that this is my number one priority. i have a lot of things on my plate. but my top priority is to defeat isil and to eliminate the
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scourge of this barbaric terrorism taking place around the world and we see high profile attacks in europe and they're also killing muslims throughout the middle east and people that are incident. and people only in a differ way than this organization. they're poisoning the minds of young people everywhere. not just in europe but in the united states. and unout theedly in argentina. people are look on these websites. so there's no more important than going after them and defeating them. the issue is how do we do it in an intelligent way. and our approach has been
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continuously to adjust to see what works and what doesn't. what has been working is the air strikes that were taken on leadership and infrastructure on financial systems. what has been working is special operators and security forces and going after leadership networks and couriers and disrupting the connection between the bases in mosul. we recovered and isil about 40% and leadership has been hunkered down. and we are going to continue to press on them until we have driven them a.
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and while we are doing that we're also extraordinarily vigilant about preventing attacks in our homeland and working with our allies to prevent attacks in places like europe. but as i have said before, this is difficult work. it's not because we don't have the best and the brightest working on it. it's not because we're not taking the threat seriously. it's because it's challenging to find people willing to die themselves and walk into a crowd and detonate a bomb. and my charge to my team is to find every strategy possible to successfully reduce the risk och such terrorist attacks even as we go after their beating heart in places like iraq and syria.
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and as our strategy involves and we see additional opportunities. but what we don't do and what we should not do is take approaches that are going to be counter productive. so when i hear we should carpet bomb iraq and syria not only is that inhumane and contrary to our values but that would an extraordinary mechanism for isil to recruit more people willing to die and explode bombs in an airport or metro station. as far as what some candidates have said, i think i have been very clear on this. one of is it strengths of the united states and part of the
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reason why we have not seen more attacks in the united states is we have a extraordinarily successful, patriotic, integrated muslim american community. they do not feel isolated. their children are our children's friends. they are our colleagues in our work places. they are our men and women in uniform. fighting for freedom. and target them for discrimination is not only wrong and un-american but also would be counter productive because the antibodies we have to resist
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terrorism. as far as the notion of having surveillance of neighborhoods where muslims are present, i just left a country that engages in that kind of neighborhood surveillance. which the father of senator cruz escaped for america. the land of the free. and the notion that we would start down that slippery slope makes no sense. it's contrary to who we are and it's not going to help us defeat isil. but when we see the sight, our hearts bleed because we know that could be our children. that could be our family members or friends or co-workers that
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travel to a place like brussels. and it horrifies me. i have two young daughters who are growing up a little too fast and i want them to have the freedom to move and to travel around the world. without possibility that they would be killed. so i understand this is the top priority of the american people and i want them to understand that this is my top priority as well. it's the top priority of my national security team and the top priority of our intelligence officers and it's the top priority of our diplomats. but we are approaching this in a way that has a chance of working. and it will work. we're not going to do things that are counter productive simply because it is political
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condition. we're going to be steady and resolute and successful. >> excuse me but i don't think that it will help in any sense, about what we are going to find. let's wait and study and then we can do some comments on it. thank you. >> translator: next a question from the newspaper in spanish. we would like to ask you what you think is or was the role of the united states during -- >> michelle who after a long night of travel has made her way to the ground in brussels. michelle, i know that you have been listening to this joint news conference with president obama and president macri of argentina as well and yet again
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it seems in the wake of a terror attack like the one that we licensed yesterday in brussels, the president's strategy has been put on the offensive yet again. your thoughts on that. >> yeah, he clearly was on the defensive. he is not suggesting that he would do anything different but to do more he thinks would be counter productive. to carpet bomb might be something that would lead tooecto more isis recruits. >> contrary to what i believe america should stand for. and every activity in latin america over the last 100 years. i suspect everybody here knows that history at least swelsz i
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do. what is rtrue though is that in the 70s. the recognition that human rights how we approach our diplomacy was as important as fighting communism or whatever our long-term objective was. that that became much more central to u.s. foreign policy. in both democratic and republican administrations. that there was a growth and a maturation of how we approached our foreign policy relationships. and so if you look at how
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administrations thought about other countries back in the 30s. or 50s and compare it to how we could have a conversation in the oval office today and what we think was appropriate and not appropriate, that has changed overtime. and in a positive way. one of the great things about america is we ingauge in a lot of self-criticism. there's no shortage of self-criticism in the united states. certainly no shortage of criticism of its president or it's government or foreign policy. and there's issues where i'm criticized from the left and the right at the same time. although for different reasons. the one thing that i will say is
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true though is is that everything that we do today is desi designed to take into account transparency, human rights, to speak out on behalf of the issues. and i make a trip to havana and i said the people of cuba had nothing to fear from me but you should know what i really believe. i believe the democracy is better than a one party or one person dictatorship. and i would say the same thing when i'm in china or russia or
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with some of our allies. and learn some of the lessons that we may not have fully learned at an earlier time. and ultimately more successful in foreign policy. >> no terms of brazil we didn't discuss it extensively other than the fact that we hope brazil resolves it's current political crisis in an effective way. it is a big country. it is a friend to both of our countries. the good news and president makma macri pointed this out. their democracy is mature and their system of laws and structures are strong enough
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that this will get resolved to a significant world leader and effective brazil for our own economies and for world peace. >> that's the way it is. that is what we discussed. we clearly are following this closely based on the affection we feel for the brazilian people. brazil being our main strategic partner. >> we'll get back in a moment. are you still with us and if so i'll love for you to finish your thought of a few moments ago. >> his defense policy or isis and the argument is if the u.s. has gotten more involved, war broke out and if they got more involved it would escalate the crisis. it could lead the crisis to
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spread and now today in the wake of paris and in the wake of brussels those are saying wait a minute, it's already spread. it's spreading. what do you do now? it doesn't seem to work. i want to point out one other thing. he said just now that he said in cuba he he talked about i think democracy is better than a one party, one person dictatorship. he used that phrase today much stronger than what he said yesterday which was a one party system. so-called raul castro a dictator. >> we're also learning that his answers are tending to be short. and in just a moment. and speaking once again and john harang getswood if you're with us the real question is whether the president's strategy would be forced to change or left to
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the same person that takes over at the white house. >> that presumes the policy should be assumed by the next president. he believes that his strategy -- >> destroy us. they can't defeat us. they don't produce anything. they're not an threat to us. they're killers and murders and their primary power in addition to killing innocent lives is to strike fear in our society. so that it cascades from an
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explosion. and even as we are systematic and ruthless and focused in going after them, disrupting their networks. getting their leaders. their operations. it is very important for us to not respond with fear. as i said, that's hard to do because we see the impact in such an intimate way in the attacks that they say we are strong and you are weak. we send a message to those that might be inspired by them and
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our message of liberty and openness and the respect of all people. and i mentioned at the baseball game yesterday one of my proudest moments as president was watching boston respond after the boston marathon attack. because they taught americans, they grieved. we apprehended those that carried this out but a few days later folks were out shopping. and a few days later people were at the stadium and singing the national anthem and big papi was saying what he felt about boston. boston strong.
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and how a terrorist attack was not going to change the basic spirit of that city. well at that moment he spoke about what america is. and that is how we are going to defeat these terrorist groups. in part because we're going after them and taking strikes against them and arresting them and getting intelligence on them and a lot of it is going to say you do not have power over us. our values are right. you offer nothing except death and for the u.s. president and the u.s. government and creating
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things and trying to solve major problems like climate change and setting up educational changes for young people and scientific break throughs to cure diseases. we have to make sure that we stay focused as well on the things that are most important to us. because we're on the right side of history. and with respect to how my reading of it. what i will be clear about is
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our allies and our core interests. i will not hesitate to use military force when necessary. when it is -- but how we do that is important. we don't just go ahead and blow something up just so that we can go back home and say we blew something up. that's not a foreign policy. that's not a military strategy. and i do think that it is important for the president of the united states and the administration to think through what they are doing so that they can achieve the objectives that are the priorities of the american people and i can tell you how i spend my time is thinking with our military and generals and our best thinkers how are we going to most effectively bring peace to syria. we don't just throw some
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military action without having thought it through and making sure that it was effective. >> i will give you my opinion on president obama's trip to cuba. it will be the great progress in terms because door versus open and tools have been given to those who want to choose again and he has president of the united states there went without relinquishing any of the values we embrace the united states and argentina. the flag of freedom. in other words it's about every human being able to decide what they want to do in their own future. this step that has been taken.
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and won more freedom to find more partners around the whole world. and it will be highly positive for the next few years this relationship. [ speaking spanish ] >> so we have invited people to suggest questions to ask both
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presidents and we chose this one from maria from the province of buenos aires. what was your dream when you got elected and were you able to realize it? >> well, you know, i ran for office because i believed deeply in the american people and that our politics did not fully reflect all the volualues and t talents and the goodness of the american people and i might be able to align the government with our ideals to make sure that every child has opportunities and make sure if
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people get sick they can get health care and to make sure that they don't discriminate against people on the basis of race or gender or disability or sexual orientation. that we are good stewards for our planet. that we grow an economy so that everybody benefits and not just a few at the top. and i wrote down a list of things i want to do and i keep it at my desk. i won't say that i have gotten 100% done but i have gotten a lot done. the economy is much stronger now. we created 14 million new jobs. we cut our fiscal deficits by 2/3. we provided health insurance to 20 million people that didn't
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have it before. we have not only reduced the acceleration of our carbon footprint and we have to gain a global climate change. on the international front, cuba is just one example of the work we have done. the nuclear deal that took away from threat from the world and gave iran an opportunity to rejoin and the work that we have done in afghanistan and ending the world and giving them the opportunity to secure their future. work in remote places but military is now on a brink of a new era of democracy. the values i felt best represenned america has also been reflected in our foreign policy.
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one of the things that i learned after 7.5 years in office is president macri talked about running. we're like a relay runner. we take the baton and sometimes we're behind in the race. and the circumstances when we get the baton, the question is for our leg of the race, did we advance the causes we care about. did our team and on that front, i believe we achieve that. put we still have a lot of work to do. there's a lot of people in america still looking for opportunity and i have certainly not been successful in getting the parties to work together. and our politics doesn't reflect
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what i think is best in us. i think there's still major challenges. isil is still killing people. north korea still has a nuclear achieved. so, you know, if i were satisfied now, then i would be blind to the many challenges we face. i can say with confidence that the work we have done has made both america and i think the world stronger and better. and i feel pretty good about the fact that i can look back and say that i operated with honesty and integrity. and don't feel as if i said things i didn't believe or acted in ways that would make me
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ashamed. and, you know, that i think counts for something as well. i've said this before, i would have started dyeing my hair sooner so people wouldn't realize how much i aged during the 7 1/2 years, but it's too late now. so i'll just have to go with it. >> started like this right away, sir. >> we'll jump back here to our cnbc headquarters. get back it buenos aires as needed. but i do have a panel of experts in front of me today to discuss the markets, which are largely muted on this day. i do have seema mody with us as well, who has been digging into issues related to the conversation that both presidents are having there. seema, i'll go to you first. the president called mr. macri a man in a hurry because really since november he has done quite a bit to try and turn around argentina's ailing economy. >> absolutely. in general, president obama's visit is widely seen as an
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endorsement of president macri's economic policy. if you speak to an emerging market invest,er, they'll say macri has unveiled a series of market oriented reforms since becoming president in december, and ending the 15 year long debt battle. that's one reason we have seen the stock market rally. it is up about 8% so far this year on hopes there will be further change to come and that all this will help argentina internationalize its economy, which it desperately needs. they're dealing with slowing growth and rampant inflation. >> steve wise, it brings up the question as to whether there are places outside the united states that remain attractive for u.s. investors to be, especially one that has a new leader, an approval rating better than 60%. you can see both presidents wrapping up their news conference on the right-hand side of your screen. also an economy that had suffered through more than eight years of 25% plus inflation. >> yeah, that's absolutely
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right. there are places outside the u.s., argentina looks like one of them. what happens is if you got to get in early, because it takes a while still to get the major reforms through, so i still like the u.s. i like europe, but money is leaving europe also, worried about the brexit. got to be very, very careful. look, there is plenty of places to make money, just have to work and can't get in late. got to get in early. >> that's a good point to hit you on, josh. whether the gains we have seen in some of the emerging markets, argentina and the 24 or so percentage points that the brazilian market is up this year, whether it is too late and if the best gains are in the united states. >> that is a question of time frame than anything else. you're a long-term invest, you can buy a portfolio of dividend yielding, high quality, emerging market names for ten times earnings. and you can afford at that valuation to take the risk that -- from a trading
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perspective, we have seen the msei emerging market index try get declibehind the declining average. be very careful here short-term. i think the dollar is much more important than anything going on politically. >> the other issue, jon, in the market today, we watch the major averages slip a bit, you have the dollar higher today. i think for the third straight day. also there was a rather large supply build in crude oil inventories and you've seen crude sell off and maybe that's putting somewhat of a lid on what the major averages are able to do today. >> some poor housing numbers as well, judge. the fact that the markets just basically trading sideways after those terror attacks that we talk ed about yesterday, and that we will continue to talk about for weeks and months to come, that's a victory for the markets in general that they haven't just succumbed to it, that they haven't just run for the exits. it has been the opposite.
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people have been buying on dips. and i think those that were rewarded in russia, buying on that big dip at the end of last year, same thing in germany, same thing in brazil. these seem to be replaying over and over again and the moves are much sharper, so to josh's point, time frame is important. >> we'll hear from jim lebenthal in a moment. quick break. back on the other side as we continue to follow the market and the relevant stories around the world as well. environment, in an ever-chg companies must adapt. but one thing should remain constant - a financial relationship with someone that understands and cares about your business. pnc corporate and institutional banking offers strategies tailored to your company's needs. know that our dedicated teams of local experts offer insight to help you achieve your business objectives. see how working with pnc can help your company grow at ♪
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hi watson. you are a fierce competitor. i've heard that. i have analysed your biggest matches. oh really? when down a point, you serve an ace 5.8 times more than other top players. you sound like a coach. i am not. but i can customize training programs based on biomarker data. watson, that's pretty impressive. you might say i am the serena williams of cloud-based cognitive systems. nah, i wouldn't go that far.
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trolling for a gig with can't blame you. it's a drone you control with your brain, which controls your thumbs, which control this joystick. no, i'm actually over at the ge booth. we're creating the operating system for industry. it's called predix. it's gonna change the way the world works. ok, i'm telling my brain to tell the drone to get you a copy of my resume. umm, maybe keep your hands on the controller. look out!! ohhhhhhhhhh... you know what, i'm just gonna email it to you. yeah that's probably safer. ok, cool. welcome back to "the halftime report." want to get some thoughts from jim today. let's talk about nike. it has been the biggest drag of the day on the dow jones industrial average following earnings. if you look within the earnings report, the numbers were phenomenal. their revenues came in a bit lighter than people had hoped for. is the market getting it wrong today? >> i think so. here's why. if you look at the revenue growth, it is 8%. the earnings per share growth is
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22%. put that together with the futures orders which were up 12%, actually would have been 18%, but for currency effects, still, that 12% is going to equate to more than a 22% rise in earnings per share, just because of their operating leverage. i knew some people are going to say maybe that's buying back shares and that contributes some, but the fact of the matter is their business model works really well right now, people want their products and they make a lot of money selling in places like china, with constant currency futures orders up 36% and japan up 23%. scott, i can't think of any other company in japan that has sales up 23%. nike has it going right and it is attractively priced for it. >> good place to buy this one? is the market right? >> i bought it on the dip this morning. i hope to write calls against it later on. but i bought it, mainly just because i thought all of the points that jim made that i won't echo -- >> really, really low risk entry here. you've got a rise in 50 and 200 day moving average at 59 1/2, 60
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bucks. that's where your stock goes. you'll know you're wrong immediately for short term trade. >> iconic brand, high quality, i think it is -- >> you look inside, the internals were impressive maybe not for some, but nonetheless, that's how the story stands now. that's all for us. thanks for watching. "power lunch" starts now. "power lunch" starts now. welcome, everybody. along with melissa lee and brian sullivan i'm tyler mathisen, michelle caruso-cabrera is live in brussels and we will check in with her in just seconds. let's get you caught up on the latest in the investigation into yesterday's terror attacks. sue her err era is at the break desk for us. >> president obama holding a joint news conference with argentine president macri in buenos aires in the wake of the brussels attacks and he defended his strategy against the islamic state. >> there is


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