Out my myspace page. Power lunch begins right now and welcome to power lunch. Im melissa lee. The dow and s p both hitting records. Neither had back to back losses so far in 2018 all three major averages on track for a fouj straight positive week and on pace for the biggest monthly gain since october of 2013. And 3m and intel soaring and dividend hike. Well check out the other movers colgate is down. Revenue falling short. Honeywell is higher on the earning by 1 . The company also raising the outlook in starbucks, down 6 revenue missing forecast sales growth expected to come in at the low end of the prior 2018 forecast thank you very much. Welcome, im Tyler Mathisen and get you up to date shares of wynn tanking now down 7 on the reports of Sexual Misconduct by the ceo and founder steve wynn the wall street journal reporting dozens of people coming forward, more on this developing story ahead us economy growing steadily in the Fourth Quarter of last year but losing steam from the summer demand, however, for durable goods soaring last month coming in way above expectations michelle. President trump taking the stage this morning in davos. His first ever trip to the World Economic forum yesterday he told our joe kernan he was here to make the pitch for businesses around the world to come to america and this morning he told those gathered exactly what he told cnbc. Im here to deliver a simple message. There has never been a better time to hire, to build, to invest and to grow in the United States america is open for business and we are competitive once again. Was the president s pitch on target how should we rate mr. Trumps performance in davos im joined by tony fratto, rt former white house treasury official for george bush and gene sterling. And fred kemp, and president and ceo of the atlantic council. Good to have you here on power lunch on this cold evening. So there are so many people here who dislike President Trump and yet as one journalist tweeted out, boy, they all acted like they were at a Brittany Spears concert and taking pictures like crazy. They were dying to see this guy. So two things i was there. I was in the line trying to get in these are the people i would say 99 of them would have voted for Hillary Clinton had they had a vote theyre international. And they were fighting to get in the room fighting to get the seats. It was a full house on friday at the World Economic forum that is not usually the case then it was a hot room when you sat down ready to bite, ready to boo, ready to hate what he said and President Trump pulled off something i didnt actually know was in his repertoire, which is he calmed the room with his speech and it was just an amazing performance. Trump certainly graded himself well enough that very high level person in World Economic forum expects he may come back next year. Do you agree or disagree. It was great having the whole delegation in the United States. The donald trump that they generally see here on their television extremes is a loud and combative but he was reserved and his audience for the speech wasnt necessarily the people in the room, i had people here and the talk around davos is it is a 2 00 time slot. On friday. On a friday but it is the best time slot if you are in the United States it led the news today, everybody carried it live back in the states. We talked about it all week. It was actually the Perfect Timing for them and i think his message to for the american audience and not so much for this audience, exactly. Gene, i bet you have a different view. You know that is true President Trump has mastered one thing, the man has the lowest expectations for anybody ive ever seen. The general positive reaction was he wasnt as terribly offensive and divisive as weve heard him other times. Look, im for president of the United States coming to celebrate our economy and encourage people to hire i special was for president obama and clinton doing this i make two points, though. One, his description, it doesnt help to be just beyond what are the fakes when you are describing thing he described it as a whole new era of job creation under him. Lets do the facts for a second. 2017, the worse job growth since 2010 in the four years before our average job growth was 214,000 a month. It is 20 lower, 171,000 under him. Im not blaming him for. That im just saying but you could quote an Unemployment Rate that is approaching a three handle and a stock market up dramatically and wages starting to rise. First of all, all of those things that were positive was because of the very hard work done probably started in the crisis, really, with president bush and with president obama. And yes, you can confuse somebody as ann richard said who is born on third base for thinking they hit a triple but anything good happening is a continuation, including some rising incomes of things that happened before that and i think it is worth at least getting straight and the second thing is the divisiveness that he has caused is harmful to our country. There were leaders here from the tourism and travel industry who are think we are not benefiting as much because of the comments and the fact but dont you think the speech today was designed to amealy or rate that and try to to try to send a different message . What did he say he said america is not just first, it is not america only, and then he didnt say after that, we should cooperate more, were all stronger when the world is stronger when we Work Together he just said, well if were doing well, it will benefit others i dont think he did much to take away from the profanity hes used to describe about a third of the countries in the crowd, i think he just literally was not quite as bad as some people thought. But the message is america is open for business. Did he get it across is it going to work . Look, i come here not republican or democrat im a recovering reporter of the wall street journal in my current guise and you have to report what went on the in the room which is people didnt leave being in love with donald trump. But they left feeling that they had to reexamine their current thinking about him as a leader and that is about as best as he could have come out of it. In terms of the numbers, the tax cuts, there are a lot of people in davos this week that are thinking about investing in the u. S. In a way they didnt six months ago now part of that is the pressure and the retail sales of a president who is not afailed to call up a ceo and say dont move your jobs to mexico or youll suffer but part of it is they do see tax cuts, the repatriate line on microsoft i did a little surveying with Business People afterwards a lot of them talked about that and said good heavens, maybe we should get some of the money gone to ireland back to germany or france and so they werin pressed by the repatriation and the investment by microsoft. That would have happened under any administration but im not sure the repatriation would have. There is nothing wrong with a president coming here and krohning about the economy it is also good for for the Global Economy that the American Economy is strong. He said himself. And he did just pass his signature piece of legislation and so hell do that what was missing for this crowd in particular though were two things no one in that crowd thinks that america is globalizations big loser. They look at United States and they say the United States always wins. And so they dont see it the same way as the president did. They do appreciate the message on if were going to have a rules based trading system, we should follow the rules. If you think about the message of the World Economic forum, it is lets help raising Living Standards in the poorer countries and that part was missing from the speech. That wasnt part of his message. Great analyst breaking news and back to you. A developing story were watching closely at this hour. Shares of wynn resort plunging, down about 9 on reports of Sexual Misconduct by the ceo and founder steve wynn Contessa Brewer is here with the details. The wall street journal published this report recounting dozens of people saying there was a pattern of Sexual Misconduct at the at the behalf of las vegas mogul steve wid wynn we have received a statement from both steve wynn and the company to cnbc and here is his statement. The idea that i have ever assaulted any women is preposterous we find ourselves in a world where people could make allegations regardless of truth and a person is left with the choice of whethering insults they goes on to blame his exwife for instigating the allegations with the wall street journal and the investigation. As she has filed a suit to renegotiate the terms of their divorce. She wants to sell some of her stock shares wall street journal said an attorney for her said she is not behind instigating the allegations, although in the document she claims that she knew about the assault here is the company wynn resort statement. It is noteworthy that alamo miss wynn said she knew about the 2005 allegations she never made them known to the board of directors of which she was then a member and didnt raise them until after mr. Wynn repair yesterday and the shareholders voted not to elect her to the board. This divisive divorces with big news in las vegas. Big news for shareholders and investors because he owns 12 stake in this company. Here is what is noteworthy he is central and integral to this company when i went to wynn Boston Harbor it was clear he is involved from the ground up at every level of design and planning of these projects and so anything that might take him out of the mix in terms of leading this company is important. He gets down to the details of even picking the fabrics on the chairs in each restaurant and the chairs, if there is a rock star ceo in the gaming industry it is steve wynn. But elaines statement through her attorney opened her up to a potential liability in terms of being a board member and knowing of allegations of misconduct by the ceo. And there was a 7. 5 million payment to a woman who said in 2005 that steve wynn sexually assaulted her and she was a salon manager and manicurist and there was a complaint filed with human resources. Now wynn the company said that the Company Requires all employees to receive annual antiharassment training and offered an independent hotline they could use anonymously without fear of retaliation. And not one complaint was made to the hotline regard pmr. Wynn but they are finding dozens of people that could find a pattern of sexual abuse. And we are doing our own independent reporting and hoping to confirm the allegations. Joining us now is one of the journal authors of the piece chris, thank you for phoning in. Im sure it is a busy day for you. Is it possible that perhaps it is elaine wynn behind this behind this story in terms of helping to expose this . No. And their lawyers say, and as we say in our story, we never spoke to elaine wynn for for any of this reporting we of course tried to contact her but we did not get any return calls from her. And in fact, really had done a lot of reporting on this already up until the point we reached out to their attorneys that was fairly far into the reporting process. Take us back through the history of this of this reporting. And of the allegations against mr. Wynn, including as contessa reported, a 2005 incident and or settlement in which an employee of wynn property was paid 7. 5 million when did these allegations begin and how many people are involved and where or when do they end . Right so initially so there was some of this came to light, none of the specific details but there was a hint of a detail in a lawsuit involving elaine wynn and steve wynn that came out probably two years ago at this point. A little less than two years ago. It was a vague reference to a settlement with an employee but it was nothing else than that. So that was that was an initial launching off point for us but frankly we didnt have to look very far to find a larger pattern of this and employees who once we started reaching out to them, it took work because again as we sort of note in the story, there is a big sear of the power of steve wynn, particularly for people in las vegas. And so and chris, it is Brian Sullivan that was my question to you. Which is is this, steve wynn, to contessas point, he is this company. As you note, his signature is the company logo noib in america is nobody in america is identified with the exception of President Trump you obviously did a lot of reporting on this. How long did you report this story and are the people that you got to talk, what percentage of the people you did contact simply would not talk to you that they were still afraid to speak out against steve wynn. A very High Percentage of people were unwilling to talk. That is why we had to be very targeted about this. Weve been reporting on this for at least two months. And initially to a person every conversation started with with generally a fear and a even for former employees, it was i could lose my job over this and we sort of asked, you dont work there any more, right . And they would say yes, but he controls las vegas and controls nevada so there is that perception. And certainly in the wider u. S. , if you are a casino patron, or stayed at his hotels, his name is ever where. Signature is on the building. How many women allege Sexual Misconduct on his part how many how many . Certainly more than a dozen that we have contacted you could see the sourcing in our article. As far as there was a difference a pattern of people who there were people who had direct interactions with him and that was around a dozen. And then there were certainly more than that who had who had knowledge of others. And in some the cases were very careful with our sourcing, but we we have covered a period of going back to certainly the 1980s in which there was knowledge of this sort of Sexual Misconduct chris, were going to leave it there thanks for joining us. Chris kirkham of the wall street journal. This is a story well keep our eye in and for any developments well bring them to you. It is worth noting the stock is down about 7 . They had just reported better than expected earnings and the stock was at levels yesterday not seen since august of 2014. So this is a stock that had been doing quite well well see what the ramifications are. And were trying to get analysts on the phone and im sure youll talk about this in fast money but the question is he owns 12 of this company. Investors are saying the company is worth less without mr. Wynn he is in his mid70s and legally blind for sometime it is not inconceivable to think he will not survive this scandal from a corporate perspective and the question is what is the Company Worth if he is no longer involved and ill tell you what, on the last Earnings Call this week when they were reporting earnings that beat the top and bottom line we heard an enthusiastic, dynamic invigorated steve wynn looking forward to what they are doing with rebranding properties and pushing forward with las vegas he is bullish on his company well see how this shakes out here well bring any developments as we have them. And on a prosayic report. We added a bunch of rigs according to baker hughes, we added is it 12 since last march and all of the rigs are being added in texas and in the Permian Basin of texas that was all of the game was just that region. Look out kids old people are taking over the internet well talk to one analyst who said facebook and google are going after grandma. And speaking of hightech battles, it is alexa versus siri in the fight for the home, can the new home pod drown out the echo anything worth pursuing hard work and a plan. At baird, we approach your Wealth Management strategy the same way to create a Financial Plan built to last from generation to generation. Well listen. Well talk. Well plan. Baird. The recordbreaking rally is rolling on the dow and s p 500 shocking shocking and hitting new highs again today. And the mountain of money pouring into stock funds also hitting records. Where should you put your money to work in this market mona mahagin. You got it right. With alleyons Global Investor and chief Investment Officer with peoples united Wealth Management. Folks, welcome good to have you both here mona, do you see any clouds on the horizon. I dont think any of us could expect that 2018 will be as favorable as 2017 for equities but are there big clouds that could really derail . So you know, i think a historic market rally is in order here because were at a historic time in history we have strong Earnings Growth here and globally. We have a strong economic picture and we have yields that have not yet moved too high. So from all three of the funds, were doing very well. And so im not surprised that this market continues. Now that being said, we are seeing signs of some late cycle behavior the Retail Investors now over70 is in equities and commodity price increases and are we toward the end of this nineyear bull market or toward the beginning, i would say later stage cycles so when i think about clouds on the horizon, really what will derail this market is an economic downturn. And with that in mind, is it time to maybe take some chips off the table . Were advising clients, we