Welcome everybody to power lunch. Im Tyler Mathisen. Glad you could be with us this afternoon. Lets take a look at the dow trying to break an eightday losing streak. That kind of streak hasnt happened since august of 2011. Right now the dow up 23 points or 0. 13 . Energy and financials leading the way. Oil back above 40 a barrel. Despite a surprise build in crude inventories. Brian. Hi, im brian sullivan, thanks very much for joining us. Heres what else is happening at this hour. Walmart reportedly in talks to buy web retailer jet. Com. Dow jones says the deal could have a price tag of up to 3 billion. Also, 33 u. S. Service members have been reportedly infected with the zika virus. All of those cases were contracted overseas. The magic apparently still alive. Scholastic says more than 2 million copies of harry potter and the cursed child were sold in north america in just the first two days of sale, melissa. Welcome everybody. Im melissa lee. Straight to the breaking news today in fact from the Federal Reserve. Lets get to Steve Liesman for that. Melissa, thank you. Chicago fed president Charlie Evans says one rate hike could be appropriate this year. He doesnt love the idea of it but said it could be appropriate. He really wants inflation to be closer to the feds target before hiking. Whats the importance of this . Well, other fed officials in recent days have been speaking about just one hike this year suggesting the fed could be backing off once again from its projections coming back towards where the market is as measured by the cnbc fed survey. The feds own forecast in june showed the average fed official looking for just looking for two hikes this year. That was before brexit and the recent disappointing gdp data. One hike this year looks to be the fed flavor of the month. On growth, Charlie Evans said, quote, u. S. Fundamentals continue to be strong, labor market is displaying resilience and Second Quarter inventory decline was likely transitory, so he could see strong q3 growth. More on that in a second. He was disappointed that cap x has performed so poorly. On the Third Quarter more breaking news, we have the cnbc rapid update. The first look at the Third Quarter as a result of those automobile sales yesterday, strong auto sales. Were tracking 2. 5 to start the Third Quarter with a wide range obviously the beginning of the quarter 2. 2 to 3. 7. Second quarter you can see there disappointing at 1. 2 . Look at where Steven Stanley is, hes the bull of the quarter here so far at 3. 7 . Action economics at 2. 6. Goldman sachs right on the average of 2. 5. And moodys analytics which puts the survey together for us at 2. 2 . Here we go again, melissa, expecting a rebound and the question is whether or not were going to be disappointed once again as fed officials continue to say, hey, you know what, maybe one rate hike is more appropriate than the two we thought back in june. Steve, how does evans view fit in . Hes definitely on the dovish side. This notion that one rate hike is appropriate comes from the idea that, hey, its a committee, theyre going to take the vote the way theyre going to take it. So i could live with one. Hed prefer none until you get to that 2 inflation target. Its interesting because this seems to be coming more in line with what the markets view is at this point. You know, it has been a trend. And people complain that the fed has led the market kept rates down. I think whats been happening is the market has led the fed here. Time after time we see the chart looks just like the one i put up where the market is below the fed and the fed comes down to the market. I have to agree with you. Steve, thank you. Yeah, thanks. Steve liesman, ty. Melissa, thank you. We turn now to trouble in trumpland even though the campaign released news that they raised 80 million in july, a good showing for sure. The dominating headlines at this hour is talk of a candidate who is, quote, unraveling, and word that a possible weekend intervention is coming. Our john harwood is here with the latest. John, tell us about this idea of a meeting, a retreat with mr. Trump led by whom, and where. Well, it would be involving the trump children and senior republican officials like reince priebus, newt gingrich, rudy giuliani, to try to influence him. Well see if that actually takes place. And youre right, those money numbers are very good, but its still high anxiety time in the trump campaign. And the Republican Party generally, because of the candidates insistence of going off script and doing things that dont advance his campaign. Last night i talked to a longtime ally of trump chairman Paul Manafort who said that manafort has given up on challenging donald trump and is just mailing it in. Now, Paul Manafort a short while ago went on fox. When he did he didnt exactly offer a ringing endorsement of his ability to steer this ship. First of all, the candidate is in control of his campaign. Thats number one. And im in control of doing the things he wants me to do in the campaign. The turmoil this is another clinton narrative being put out there and that the media is picking up on. Now, Paul Manafort said it was the first hed heard of a potential intervention, didnt say it wasnt going to happen. But the concern is evident from a conversation i also had this morning with vin weber, a friend of manaforts, friend of House Speaker ryan and reince priebus, saying he was rejecting the trump candidacy that it was a mistake of historic proportions for the Republican Party to nominate him, were to collapse the markets if he were to be elected and is hoping that other Republican Leaders will distance themselves to save the Republican Party from trump. One who did that yesterday, meg whitman, the ceo of Hewlett Packard and the former california governor candidate for california, she called donald trump a dangerous demagogue. Donald trump may have to up the game that produced the 80 million in july because of course Hillary Clinton raised 90 million. John, tell me where this word intervention comes from . Is this being used by a source within the campaign . Are the people trying to organize the meeting . Its a very charged word, right . Its what you use when youre going to do some kind of drug interdiction, somebody addicted to drugs. Do they think the situation is so serious with donald trump that its got to be called an intervention . Well, im not sure that it means in this context something as medically influenced as you were suggesting. But this is reporting from our colleague chuck todd at nbc. And he posted a story on that this morning, and others are saying, well, were waiting and seeing if this is actually going to materialize. You know, one of the things they might be trying to intervene on it would seem to me is mr. Trumps prid lix for making things worse. If hed shown more graciousness or grace with respect to captain khan and his family, today we would be talking, i believe very strongly, john, correct me if im wrong, we would be talking about Hillary Clintons interview with Chris Wallace on sunday where she said basically that jim comey, the fbi director, had fundamentally given her a clean bill of health on what she has been saying about those emails. Something that clearly mr. Comey did not do. And the Washington Post gave it four pinocchios by the way. Well, if donald trump also did not go after paul ryan, say he was still thinking about whether to endorse him or the same on john mccain or belittle kelly ayotte, yes, maybe we would be talking about Hillary Clinton. The fundamental problem that donald trump has is that hes better off if the elections about Hillary Clinton because her reputations very mixed with the public. But he continues to make it about his own behavior. He likes the attention. He does not have the ability or at least has not displayed the ability to discipline himself in what he says and cut off unproductive conversations. Remember, he did win a crowded republican primary field with a 40somepercent of the vote. But youve got to expand millions and millions of voters into your coalition in a general election. Hes not doing that right now. A lot of selfinflicted wounds. A lot of selfinflicted wounds and a lot of selfconfidence under the idea, john, i think that he feels like, well, i did it my way and i knocked 17 out, 17 down, one to go. Were doing it my way. I can talk my way out of this, out of anything. Well see. John, thank you. Tyler, thank you. Another big story we are watching today, what else, oil after closing below 40 a barrel First Time Since april and falling nearly 20 over the past six weeks, a surprise turn in crude oil today. It is higher despite a big build in oil inventories. Lets bring in onset kyle cooper, Energy Consultant and Mike Kelly Seaport Global Securities managing director and Senior Analyst, he looks more at the stock side of things. All right, kyle, thanks for joining us. Good to see you in from houston. We got a bigger build than we thought in oil inventories. Why is oil higher today . I think its rebounding just because weve slid so much recently. Weve had a tremendous drop after getting above 50, you know, from the january low. We had a really bullish market. We got to that level. We hadnt been able to maintain it, now weve slid significantly. Markets dont go down forever. Even though it was a total build on total petroleum, i think this is nothing more than a rebound. When a stock doesnt fall or goes up on bad news, we say maybe thats a bottom. Because the market has priced everything in and its not as bad as we thought. Can we do the same with oil . Possibly, the problem is that the last five weeks now have seen total Petroleum Inventories rise. The problem with that is thats still showing that the excess supply is still there. Even though a lot of people have an expectation that the oil market is rebalancing, the total inventory levels are just simply not showing that yet. Weve seen five consecutive weeks of total Petroleum Inventory build. Weve built almost 29 total barrels over the last inventory of weeks. How oversupplied are we . Where do you see prices going over the next nine weeks, kyle . On a basic level we built a little over 2 million barrels, thats about 300,000 barrels a day of oversupply. Still here in the u. S. Alone. You know, i think its 35 maybe might be a 35 . So lower. Theres a lot theres Technical Support around 38. I think you could see some support there. But if that doesnt hold, then certainly around 35. Because we just continue to see inventories build. Unless we start to see those inventories tail off, start to slip actually, then, you know, then i think the path is still lower and that this is just simply a needed rebound within a market that sold off a lot. All right. So with all this said lets turn to mike kelly to get his picks. Mike, you say you have got to have exposure right now to two areas and these are areas brian has talked about especially in light of the decline in oil weve seen, economics is very important for these oil companies. But youre saying Delaware Basin as well as the stack play. What is the cost of production in those areas . Well, we just had two important Conference Calls today, new field the big player in the stack. And big player in delaware. Really encouraging data points for both. In newfield they said 40 oil their now making 40 rates of return at 40. So you could go lower than that, you know, down to that 35 level and still make the case that youre above break even. Concho said somewhere between 30 to 50 of their entire position makes money at 40 oil as well. So thats kind of where youre at. Yeartodate these stocks have given investors some pretty nice gains. Is that all factored in at this point . Whats up with gas star . Thats the one name on your list that has not done well this year. Yeah. We think theres still more room to run, especially in these two plays. We get more results. And give investors more confidence that these plays are really for real. I mean, this data out today from newfield say 40 return at 40. Two weeks ago the market thought, you know, really it was a 20 return at 40. So the data is happening very, very realtime here. Industrys getting really good. The Technology Revolution is upon us here drilling better wells, cheaper wells. And to your question gastar, theyre in the stack, a small player there. They got debt up to their eyeballs, but we think if you take basically recent deals around them, i mean, this pegs a 4 stock if you want to take recent a d transactions. Its got some risks with it, but we think the reward basically offsets that. Were going to leave it there. Mike, thanks so much. Mike kelly of Seaport Global and kyle cooper. Straight ahead, we talk to the green partys candidate for president jill stein, her platform, the state of the race and why her name on the ballot could put donald trump in the white house, a mustsee interview when power lunch returns. [chains dragging] [eerie music playing] [crickets chirping] [owl hoots] announcer if you dont fix them, sparks from dragging tow chains can cause a wildfire. And that could be scary. Bye, smokey only you can prevent wildfires. Welcome back to power lunch. Im josh lipton. Some new data out just now from apple showing its progress to increase diversity at the company. In the past year 27 of new hires in the u. S. Were underrepresented minorities, thats up from the previous year. Also 37 of new hires globally were women. Also higher than a year ago period. Apple noting it had made greater strides as well in pay equity here in the u. S. Still looking total work force 68 of apple employees are male, 56 are white. Many tech giants we know in Silicon Valley are working harder on diversity. So why is there greater minority representation . Some try to blame that on what they call an education pipeline problem. Others say its a matter of corporate culture. But apple today arguing it is working harder to address that issue. Guys, back to you. Thanks, josh lipton. Both donald trump and Hillary Clinton have very high negative ratings with voters. Many of whom expressed unhappiness with their choices. Next guest refutes the notion American Voters only have the choice between clinton or trump. It makes sense because shes also running for president. Were talking about Green Party Candidate dr. Jill stein. Shes pulling around 4 to 5 nationally right behind libertarian nominee gary johnson. She hopes to heavy court disenfranchised Bernie Sanders supporters. Dr. Stein, welcome to power lunch. Great to be with you. I want to get to the heart of the question that we highlighted in the tease which i heard a lot of last week when i was at the dnc, that you have the potential you have 4 or 5 , which means you dont win necessarily, but do you siphon off enough voters from Hillary Clinton that you end up being the ralph nader of this election . So its important to remember the American People are actually clambering for more choices. And are unhappy with the democratic and republican nominees who are the most unpoplar, the most untrusted and the most disliked in history. And its no surprise because the policies. And you can look at the policies of Hillary Clinton who supported nafta, sending our jobs overseas, who supported wall street deregulation which led to the loss of 9 million jobs and 5 million homeowners losing their homes, destroying aid to families with dependent children, throwing millions more children into poverty. So people arent happy with this rigged economy, or this rigged political system. So, you know, my view is all about getting the word out and letting people know that they actually have choices here. But do you really think you can get a big enough number . I mean, at this point if what you do is end up pulling voters from her, does that mean this was a more relevant conversation when donald trump and Hillary Clinton were closer in the polls. And thats another discussion, but things could change. Theres a point where it could be that you could be the reason that donald trump might become president. Well, you know, there are several responses to that. One theres another person in the race, gary johnson. And you might say hes having the opposite effect. So would you silence all opposition parties . You know, thats what that essentially says, silence all voices of resistance. Thats the definition of tyranny. There are ways to solve this. We could pass a reform through our voting system, which we actually have in cities all over the country called rank Choice Voting which takes the fear out of your vote. But the bottom line is voting your fears, voting against someone, democracy is supposed to be an affirmative agenda, it means a moral compass, we have to bring that moral compass of what we want to this election otherwise we keep getting what we dont want, jobs going overseas, downward pressure on wages, Means Health Care people cant afford. And you mention the point where do the numbers come from. And thats the really good news of this situation. There are 42 million young people, and not so young people, who are trapped in S