A zillion things--plus "granny flats"

Kelly Evans's afternoon commentary & top market stories

VIEW IN BROWSER | SUBSCRIBE TUE, OCT 22, 2019 YOUR AFTERNOON NEWS UPDATE AND MARKET ACTION FROM CNBC AS OF TUE, OCT 22, 2019 • 12:06 ET DJIA 26874.27 +0.17% +46.63 S&P 500 3009.82 +0.10% +3.10 NASDAQ 8144.39 -0.23% -18.59 EDITOR'S NOTE I can barely keep up today and it's only noon.   Here's what's happening: McDonald's missed (the segment is worth a quick watch). WeWork is a debacle for everyone but Adam Neumann. Did you see Biogen?? It's up 36% (!!!) as I write this on a revival of its Alzheimer's treatment. Kevin Plank is out (!) as Under Armour CEO (of his own volition).    And there's more. Hasbro is getting crushed--because of customers rerouting and changing orders to avoid tariffs on toys from China. Netflix is selling off again because now Verizon is giving customers a year of Disney Plus for free. And Disney CEO Bob Iger is actually going to join us on The Exchange today near the top of the show. (Talk about a comeback story!)    And that's not all. UPS is selling off, Harley and Polaris are both popping, and lawmakers are introducing a new "ACCESS Act" that basically requires platforms with more than 100 million U.S. users (a.k.a. Facebook) to make it easier for people to export their data to rivals. Senator Mark Warner, one of the co-sponsors along with Senators Hawley and Blumenthal, will be with us on Power Lunch today.    Little wonder the major averages are largely steady today with all of this tugging in different directions.   And then there's the housing data! Sales of existing homes slipped in September, with the National Association of Realtors blaming a nationwide housing shortage for "preventing home sales growth potential" and causing prices to rise "too rapidly" (h/t Stephen Stanley).    On that note, "YIMBY" is my new favorite macro story. "Yes In My Back Yard" is the exact opposite of the "NIMBY" attitude that has stymied new development--particularly multifamily housing in the suburbs--for decades. (I've been reading an awesome book chronicling this movement in California by my former colleague Conor Dougherty, but it's not out til February, unfortunately.)    Diana Olick had a great piece on this yesterday--here, if you missed it on the show. It turns out people are now building little houses--sorry, "Auxiliary Dwelling Units"--in their own backyards to rent out or, say, put their parents in. The one she showed in D.C. was in a super nice neighborhood (more and more towns are allowing these now), and the neighbors, instead of throwing a fit about it, basically asked how they could get one of their own.    I was joking about this with my own dad, who made some excellent points about the merits of these so-called "granny flats": free daycare! Higher property tax revenue (especially for ailing Northeast states)! It might be just what society needs. It makes just as much sense if these units are rented out to millennials and aspiring first-time homebuyers, too.    YIMBY. Who woulda thought?    See you at 1 p.m.!   Kelly       Kelly Evans @KellyCNBC KEY STORIES  Verizon will offer customers a year of Disney+ for free Verizon will give a year of Disney+ to its existing and new wireless customers, new Fios customers and new 5G Home Internet customers. WeWork's Adam Neumann will get a $1.7 billion package to step down from board SoftBank will take control of WeWork after the deal is announced. Under Armour CEO and founder Kevin Plank stepping down, replaced by COO Patrik Frisk Frisk joined Under Armour in July 2017 from his position as CEO of Aldo Group. He will replace Plank on Jan. 1 Cramer says Biogen's Alzheimer's treatment could be 'the biggest drug ever' as shares soar 30% Drug maker Biogen announced it is seeking regulatory approval for its Alzheimer's drug, months after it stopped testing the treatment. McDonald's pulls back on promotions and earnings fall short, shares down 3% McDonald's promotions struggled to lure U.S. customers away from the competition. Worries grow over the Fed's efforts to fix funding issues: 'This is all likely to get much worse' The central bank has been working feverishly to address issues that popped up more than a month ago in the repo market. Procter & Gamble earnings and sales top estimates, sending shares higher Procter & Gamble once again posts strong results, as it continues to expand sales. Its strongest growth this quarter came from its beauty and health businesses and fabric and home-care brands. Bezos unveils Blue Origin will work on lunar lander with Lockheed Martin, Northrop Grumman & Draper Jeff Bezos, the founder of Amazon and space venture Blue Origin, spoke at the 70th International Astronautical Congress on Tuesday. Apple CEO Tim Cook says he's taking on climate change and needs backup Apple CEO Tim Cook delivered the keynote speech at sustainability nonprofit Ceres' 30th Anniversary Gala in New York City on Monday night. 2022 Winter Olympics should not be held in China, GOP Sen. Rick Scott says "Until you become a legitimate country that is going to respect human rights and respect things you agree to, we're going to quit doing business with you," the senator said.     IN CASE YOU MISSED IT Why more workers are striking despite strong economic conditions Analysts riding Peloton, Mark Zuckerberg on a media offensive and Amazon's expired food fiasco Homeowners adding extra homes on their property, here's how it works   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2019 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS