And welcome to power lunch. Im melissa lee. Heres what else is happening at this hour. Stocks pushing higher with the dow and the s p 500 erasing all of septembers losses while the nasdaq on pace for a record close here. Existing home sales falling 0. 9 last month. Economists were looking for a gain. And North Carolina under a state of emergency following days of Chaotic Street protests after the Fatal Shooting of a black man by police. Weve got a live report straight ahead. But first, we got to get to Tyler Mathisen live at the iconic conference in boston. High, ty. Melissa, thank you very much. And its great to be here in boston at the iconic conference where we bring together some of the biggest business icons like todd wagner whom you just heard from on scotts show just a few moments ago. And some budding entrepreneurs, people whove either made successes out of businesses or want to. And in just a few minutes im going to talk to one very inspiring guy, Daniel Lubetzky, founder and ceo of kind. More than a billion snack bars later. Hell be with us about 1 15. In the 2 00 p. M. Hour after youve had your kind bar and all energized, spend some energy with Greg Glassman, founder and ceo of crossfit. Brian. That is a very healthy lineup you have there at iconic, tyler. Pardon that. Yes, indeed. Stocks are in rally mode. Weve got the dow up triple digits. Lets get to bob pisani. Bob, is this really just sort of all about the Federal Reserve once again . Yes. I normally hate saying that because you want more fundamental reasons, but yes. 5to1 advancing to declining stocks. Weve got a global rally going on 2 around much of the world. Weve seen the markets move here. But, yes, the fed fear of the fed raising was a substantial concern despite 15 chances. Take a look at what happened today. This is exactly what you would expect if you see people unwinding positions right now. So we saw stocks up, bond yields to the downside, the dollar down, gold is up, crudes up, Global Commodities rallying about 2 . Why are we getting a rally . Its not because the fed is divided. The fed is scaling down expectations of future rate hikes and thats helping the market. So in 2017 now expecting rates 1. 6 . They were now 1. 1, they were 1. 6 . Now for 1. 9 for 2018, it was 2. 4 , theyre lowering expectations for rate hikes and thats helping the market here. Stocks up, bond yield down, dollar up, crude and oil. Look at sectors, reits and telecoms, two sectors that would gain on low rates. Industrials doing well. And banks the sector that is lagging. Theyre the loser on low rates. So this is really all about going back to the idea of continued low rates. Back to you. Bob, thank you. Bob pisani at the nyse. Doubleline capitals Jeffrey Gundlach joined me last night. I asked when he thinks the fed might finally raise rates. I think december is a huge who knows at this point. Think of how many times and the magnitude at which the fed guessing for todays move nonmove, changed over the past three months. And here weve got three months which includes three president ial debates, a president ial election. This is highly unknown whats going to happen in december. All right. Lets get now reaction with our special guest today, jason cooking with us all hour, chief investment managing partner of strategic, also joining us casey clark with glenmede. Jason, really, is it all about the fed . Unfortunately i think so. Why do you say unfortunately . Because i dont think Monetary Policy is really designed to create economic growth. I think Monetary Policy is there to put guardrails in so you get price stability so that free people get to choose how they spend their money. You know, friend, i agree with you, but i believe that horse was let out of the barn a few years ago. Well, i would say at this point though monetary its very true. Monetary policy, i think, especially with the advent of negative Interest Rates in japan and the ecb has gone from really being ineffectual to being harmful. I believe that. Doing more harm than helping. Casey, if we look rather myopically, should we think about the fact it is going to be 0 Interest Rates basically for the foreseeable future and that will continue to be a glide path for most Asset Classes . Look, i do think its going to be lower for longer. I do agree with jason. If you saw about the negative Interest Rate policy, the markets really did not act well to that in january. But i think the communication out of the bank of japan yesterday morning helped kind of, you know, placate the markets. They signalled that by not intensifying negative Interest Rate policy, theyre hearing what were saying. Theyre trying to steepen the yield curve in order to release some pressure from financial. I think were in this lower for longer environment, but i think the communication out of both the fed and bank of japan are helping markets right now. Im going to ask the question to you then, because im not really getting i mean, from a stock investors perspective its good. Arent we getting the signal that its still safe to be in . Well, people are going to hate this term, but its the tina factor, right . The average public pension plan. There is no alternative, not somebody named tina. No, not tina fey or tina louise, but t. I. N. A. , right . You have 12 trillion worth of sovereign debt that has a negative yield to maturity. So you really are left with very few options. So being very myopic about it, as you say, it still counts. Financial assets go up, theyre still going up. Right. Its not maybe for the right reasons or the reasons that you want. But i still wouldnt its hard to short them in an environment like this. Well, you know, casey, listen, lets flip the scrip. If the fed chickens, as i call them, suddenly turn into hawks and flip the script and say they get surprisingly aggressive, does that mean you automatically dump Stock Investments . No, not necessarily. Look, we think theyre going to raise rates in december. And we think the economy and markets can handle Interest Rate increases. You know, yes, were seeing some kind of softening of Economic Data of late, but at the end of the day we think the fed should tighten. We think its on the path to normal policy. As long as they keep signaling this low pace, we think it will be good for equities. All right. Leave it there. Casey clark, thank you very much. Appreciate that. Jason, youll be with us riding shotgun all hour. You got it. Thank you. Lets get to the bond market. Rick santelli tracking all the action at the cme. Rick. I tell you its one of these days where its pretty easy to see coming. After all the Central Bank Meetings are done, seems like revisiting ranges of august. Were heading back up towards that 2190 in the s p. Look at 10year. 10year yields are down. Theyre about ready to get back in the august range which was already in the 1. 50s. But it isnt only that, its the whole riskon trade. Look at september 1st to a chart like the hyg or lqd, they look an awful lot like the s p 500. They are also getting back towards the toppy action that we had in august. Its totally risk off. When you look at the dollar index today on a september 1st chart, it isnt horrible. But it is getting to the lower part of that range. And you really want to pay close attention to we breach 94. 5. And the yield curve, 2s havent moved much. There is something to be said for the feds microphone. Makes the short end a bit paralyzed. So while all the action is on the long end, look for it to continue. Remember, in august every settlement but one was in the 1. 50s. Melissa lee and the gang back to you. Thank you, rick. Rick santelli. We are following a developing story out of washington, d. C. A white house staffers email has apparently been hacked. Lets get to john harwood with all the details. John. Melissa, the organization Hacking Organization dcleaks. Com has posted an image of Michelle Obamas passport, some travel details involving the vice president. Now, these are believed to have been obtained from the Gmail Account of a white house staffer which was hacked. The white house is not commenting on that hack, however, this is consistent with what weve seen in the past where what has believed to have been Russian Hackers have obtained information from various Democratic Party sources and organizations and posted them. This has triggered warnings from the United States to russia not to interfere in the u. S. Election. Russia has not acknowledged any participation in this, but it does appear, melissa, this is not going to be the last of those leaks that come out as we approach election day. John, why that staffer would have that information on a Gmail Account and not an official white house account, which might be one would think more secure. Might be more secure. Thats right. This was a younger staffer, somebody who had been an intern on the hill and then worked at the white house. So its not clear exactly why the information was on that particular account. But of course weve seen various government accounts including the state department and the office of Personnel Management hacked as well. So theres no assurance that that wouldnt have gotten out if it was on a whitehouse. Gov account. You live and work down there, talk to these people every day, is there a broader call . Has anybody sort of sent out the message . You know, we all work for a big corporation, we get the topdown email about being careful with your stuff. Put everybody in a room and say like dont put anything in a personal email . Is anybody saying this . Well, yes, but i dont think it makes all that much difference necessarily, whether its personal or government in terms of the ability of hackers to get to it. Weve seen hackers do that. In fact, i got an email the other day from a source on capitol hill new email addresses from the house of representatives account. Why . Because Russian Hackers were believed to have hacked in to the official systems on the hill. And so people created new identities and new passwords, that sort of thing. So just because you keep it off of gmail and put it on house. Gov or senate. Gov or whitehouse. Gov is no guarantee of protection. Fair enough. Maybe we just go back to the corner meeting. You know, you tell a guy who tells a guy Carrier Pigeons with scrolls of parchments. Im thinking god father ii, i said this. Somebody call Michael Douglas because theres trouble on the streets of San Francisco, specifically above the streets of San Francisco. Why that massive building has owners of its milliondollar condos very upset and a little bit afraid. But first, back to Tyler Mathisen at the iconic conference in boston. Thank you very much, brian. How the son of a holocaust survivor, an immigrant from mexico, a stanford trained lawyer began the Fastest GrowingSnack Company in america. Meet Daniel Lubetzky of kind coming up. Announcer when they test you, stand firm and move only when you hear the seatbelt click that says theyre buckled in for the drive. Never give up till they buckle up. And there you see it. Welcome back, everybody, to iconic. Im Tyler Mathisen here in boston. At our event for, about and by entrepreneurs. Im joined by one of them now, Daniel Lubetzky, the founder and ceo of kind. Daniel, i love it when a guest sits down as you just did 25 seconds ago and said is this live . It is live, daniel. It is live. Happy to be here. Were happy to have you here. Your business has grown from really zero in 2004 to where it is today more than a billion of these wonderful little bars and other snack foods sold. But you have a mission that goes with this business. Why is the mission, the charity, the message of the business as important as the money of the business to you . Its important to me and to our team because it gives us meaning and because in this world we are very much capitalists. We want to make money, but its just so much more fun when you can do well and do good and given the problems that exist in society when you can find ways to use Market Forces to make this a better world. But for the Business Impact i think the reason weve done well is not our social mission, unlike other social entrepreneurs, i feel that it tastes delicious, healthful ingredients and thats what drives our business. You have to have a good product to pursue any kind of social mission. Exactly. Your background is very interesting. Born in mexico. You grew up in mexico city first 15 or so years of your life. You come to the United States, you go to college, you go to law school. You practice law, you become a clerk. You then go to work for mcken e mckenzie. How do you go from that to this . First of all my background is more confusing because im a confused mexican jew that ended up immigrating and loving america. But my father was a holocaust survivor so that has informed a lot of my perspective and desire to build bridges between people. And then mckienzie and law were little stints. But how do you go from that to making healthy snacks . The first bridge was i was very passionate about using business as a force for connecting people, create piece works that uses Market Forces to get neighbors in conflict regions, israelis, palestinians, egyptians, turks, to work with one another. Thats what you wrote your College Thesis about. Thats right. And food became the language. Food . When theyre creating food ventures and after ten years of a lot of mistakes because, again, i didnt know what i was doing as a lawyer with all the background you described, after the mistakes, we learn the mistakes and launch kind. What was the biggest mistake you made on this journey to create kind, the Fastest Growing snack brand in the country . Focus. I mean, i made a ton of mistakes. But one of the biggest ones was that i was just trying to be everything to everybody when i was doing peace works we went into ventures all over the world, being in every store regardless of the type of store, have products of all types, appeal to every consumer. And we were diluting our efforts and our energy and end up becoming nothing to nobody. What makes a great product . What kind does is that it really understands what it is and understands what the brand stands for. And every single time you interact with it our hope is that were always proving that the brand stands for what you believe. That its nutritionally rich product, keep our kind products, number one ingredient is always nutritious, always delicious, you can count on us to always have a commitment to excellence. Im going to take you away from food and sbep neuentrepren and deposit you in the middle of politics. Okay. You were born in mexico, came here, immigrated, became a u. S. Citizen a couple months before 9 11. Yeah. Immigration and mexican immigration is an issue. Yeah. Talk to me about it. Well, i mean, im enormously proud of what america has afforded me. I was talking to somebody earlier how at least immigrants like i particularly appreciate what we have because we dont take it for granted. And entrepreneurial system, free market system, rule of law, free press, these are things we should not take for granted and we should really, really build on. And i think immigrants are how we build this nation. Im very, very proud. Im very honored and grateful for what america has provided me and i want to make sure we maintain that system that allows anybody those opportunities. Do you think immigrants and immigration have gotten a fair shake in the context of this campaign . I definitely think people doing politicking and thinking about how to get to a particular place rather than taking a stance on whats good is the wrong path. I definitely think that what i admire, im not republican, democrat, independent, but people need to think about the long term. The play hamilton which my colleagues know im obsessed with, one of my favorite lines is immigrants, we get the job done. Of course hamilton was an immigrant. And lafayette was not an american guy. Daniel lubetzky, thank you so much. Appreciate you being with us. Hes the ceo of kind snacks. Cnbc and inc. Magazine are presenting the iconic conference in boston today. It is the biggest of names and successes in startups. Next hour were going to go from nutritious snack foods to a guy, Greg Glassman, the ceo of crossfit, who has a certain way and certain ideas about foods, sugars and fitness. Coming up, your chance to participa participate as we go live on facebook. You can join the conversation two very interesting women at facebook. Com cnbc. Melissa. See you shortly, ty. What do San Francisco and pisa have in common . They now both have leaning towers, except the one in San Francisco is actually occupied. That storys ahead. If you think politics in this country are ugly, take a look at this video coming from the country of georgia. One political candidate throws something at his opponent. What happens next, stick around to find out. Sick of getting gouged for limited data . Introducing tmobile one. One price, all unlimited for everyone. Get 4 lines for 35 per month each with unlimited 4g lte data. Switch today. To growing businesses cdw broacross the city,tration increasing productivity lik