alix: we are moments away from the close of the market day. i alix steel. [closing bell] another record day for the s&p, settling out at 2120 stop did not hit the intraday high of 2125, but we are now at a record high for the s&p. we also have a digit rally that held on for the dow, of 186

point. the nasdaq was really a good leader of the day. i'm joined by joe weisenthal. if you look at the sectors, tech of almost 2%. you had health care of 1.5%. you had a little bit of risk, a little bit of safety, a little bit of dividends. joe: everything is up. today was that day. all of a sudden, greeks and from or whatever -- last week tantrum or whatever seems to be like a distant memory. alix: and we started to move into national -- international stocks versus domestic stocks. joe: and you have the dollar hitting a four-month low and you would imagine that benefiting international stocks.

alix: you nailed it right there with the dollar. it limits the longest losing 2013. since the big impact is on inflation and then corporate profits. joe: it's interesting, because we've had a few dollar stories this year. lately, that comes after the beginning of the year when all anyone could talk about was dollar bullishness. we just wrapped up q1 earnings season and that was during a time of significant dollar strength. the report from goldman today was when they identified the four big that they heard on earnings calls. the strong dollar weighted negatively pretty predictably. the oil dividend was not what many expected.

basically negative for a lot of companies. and euro optimism was another one, expecting higher growth in europe, which we have kind of scene. and the last one was -- i'm blanking on it. leading to amulus european recovery. let's take a quick right. i want to go to cory johnson, who is looking at symantec numbers just crossing. cory: semantic earnings just crossing. downompany is reporting 7%. it's a bit that are then analyst the alice were wrong. they were -- the analysts were wrong. they were expecting a 6% decline. even worse than the analysts expected. -- 19% down 90% over year-over-year.

even when they flout all of their funky adjustments and adjust for other things as well, we still see profits down 10% year-over-year. newntec is facing challenges in defending cyber security. big challenges, both with a lot of computing moving to the cloud and with a lot of competitors like fireeye and so on. symantec is fighting that off, but losing revenue as a result will stop alix: we also have julie hyman looking at parties city. first report from this ipo? julie: there were no analyst estimates i could find because journalists have not started covering the company in force yet. but they have an adjusted share of 3%. and the company says for the year, adjusted earnings per to $1.06. be $.97 up

they are pleased with the results and comps sales are up even after adjusting for the benefit of easter. it got a surge right after the ipo and has three much remained at that level. shares are not reacting to the news as of yet in the after-hours. alix: thank you so much for my julie. looking at symantec earnings, what theg to find out numbers work. where they get their money, asia, japan, middle east, africa. q1, until we see things normalize drug this dollar impact will be the tory. alix: and pardon my wonderment if we just part of my wonderment if we see the dollar churning lower is if we will see these

forces hedge. part of the hedging was that some of the extent of companies could not do it. i'd ago, if you wanted to buy protection on one million euros for six months, that was going to run you $25,000. now it will cost you 35 thousand dollars, a huge increase over the last year to protect yourself. at the end of the day, a lot of companies could not do it. joe: i also think it is worth stepping back and saying, why this recent dollar weakness? the answer is, the economy has been weaker than expected and we had the week q1 gdp number -- q1 gdpkend -- weak never. i have to say am skeptical of the whole story. early this morning we got initial jobless claims. it's the lowest it has been since the economic crisis. i find it hard to square that

with the fact that the economy is losing its wheels this year. alix: we will debate that in just a second. materials are out. cory johnson will look at those. cory: supply materials make the big machines that make the big semiconductors. they are doing a bit better. from $2.36on, up billion the year before. profits, $364e, million up from $348 the year before. a 6% increase in profits. that is certainly good for the company as they grow their profits and their margins get better. direction for the next quarter is indicated to be pretty much what was expected. things look pretty much improved for applied materials. again, a little bit better on sorry,fit line -- i'm

the revenue line of 4%. 6% better on profits. margins are getting better for applied materials. it looks at it looks like a pretty solid beat on the same-store sales. julie: on the earnings-per-share, $.66, whereas 71% was estimated. -- $.71 was estimated. otherunlike the department store retailers we have heard from thus far, macy's and goals, both of whom missed on those cocktails numbers, and jcpenney missing very slightly -- those cop sales numbers and jcpenney missing very slightly on those numbers. the full-year forecast looks like is in line with estimates. have in spending more than its competitors, and that might be what took a bite out of the earnings-per-share

and led them to ms. estimates. the company is citing his ongoing entry into canada and club.unk alix: we are going to get a barrage the next few days of s -- of earnings. to your point, you do not things -- think that things are that bad. joe: i'm skeptical. it would be great if the economy was better. it does not look to be quite as good as people thought. but if you tally up all of the initial claims -- alix: but that is firing, not hiring. joe: but even the hiring is not too bad. hard for me to believe this story that the economy is in a stall when the simple measures we have continued to look pretty good. alix: i will flip it for you and dig the initial jobless claims denver and flip it and compare it to gdp. that line shows it going up

because we flipped the chart. versus b -- versus gdp, barely above 2%. underitial jobless claims 300,000 is traditionally followed by a run-up in the pace of claims, especially when gdp growth is at 2% to 2.5%. that is exactly where we are now. my concern would be a down draft. say, gdp is i would complicated and there are seasonal things. alix: let's talk to someone who is smarter than both of us, peter tcheir. what do you think? peter: i think the economy has slowed down. jobs, but not good jobs. they are not the jobs we really wanted. the shale industry, that was one of my theories that last year

that losing the oil prices would hurt the economy more than we thought because we are now a big net producer. slowdown ais a little bit linked to that. joe: shale a psychomotor to what aside, tou -- shale an st which are be the weak growth? peter: at of the economy is ever as good as google think it is, but not as horrible right now either. twoou look at where the year treasury yield this, maybe he comes back down a little bit, but not to the lows. i think we are going right along and i would expect a tech -- expect an uptick. alix: moving right along. thank you very much. joe, you are sticking with me. coming up, the greenback hit a four-month low. we asked what is left of that

rally. ♪

alix: welcome back. i'm out of steel. the death toll in the amtrak train crash is now at eight and officials believe they have now accounted for all 243 passengers and crew members. they expect to have travel restored across the northeast quarter by tuesday. they also want to talk about -- the investors also want to talk to the engineer at the throttle. the train was going more than double the speed limit. the lawyer for the engineer said his client was not on his cell

phone or using drugs and hall. -- drugs or alcohol. a short time ago, the senate gave fasttrack trade authority. it comes just two days after senate democrats rebelled against it. forsenate also voted proposals curving currency manipulation and boosting incentives to sub-saharan africa. and paypal goes back to its roots. symbol pypl ticker its own again. those are your top stories. the u.s. currency is slamming to its lowest level in almost four months, a day after stagnant retail sales became the latest data to undermine prospects for

fed rate increases. the decline is at its lowest level in almost three months against the euro. petertchir ofs green capital. sebastian, what happened? a lot of people were not expecting this lack. some were not expecting a, but some were. there's always a much time you can spend making money and winning before something goes wrong. when we saw oil rising and better data coming out of the eurozone, the combination force people out of their positions. we are pretty much our most a day away from the end of that process. alix: you have commodities move higher and a reflation trade that affects the bond market. what is the triple?

saw moves as high as 185. i think the people were very comfortable being long on treasuries. when she started seeing that pressure, there was no one to come in to buy and that would start trigger stop losses. just wentd market, we through a 10 year option yesterday, a 30 year auction today. i think the supply problem that has been coming is almost done. that will and, the corporate -- the corporate supply will end after labor day. and there were liquidity issues in the bond market as well. do you agree with a return to the currency market? is this the bottom for now? : i think so. i think we are pretty much at or close to the peak of that one. it is generally when people start to feel extreme pain that shot and ierdone the

think we will reverse out of of the gains that we have seen right now. what is going to be the catalyst for the trade that we weeks?en in the last two the trait we have been looking at our long investment-grade bonds. will look at the summer and say is going to be potentially slow and the fed is on hold and maybe we should get its income into our portfolio and rebalance that. and the weak dollar, if it reverses that all and you get dollar strength, that inflation fear will go away quickly. for ais the only catalyst stronger dollar going to have to come from the fed at this point? the fedn: i agree that plays a role, but so does the economy. it's like driving over a

pothole. after a few minutes you forget about the pothole. it's not a great story for growth, but much better than any of her where else. -- then everywhere else. alix: that is true, european growth is growing at 1%. sebastien: it's like getting hit by a car and falling down and then slowly getting up and moving on. it's a slow process. eventually the euro will get stronger, but in the short term, it's going the other way. alix: do you see parity? sebastien: a parity assessment the ability cheerful surviving there is a tremendous aversion to this happening in the eurozone as well as the u.s. alix: thanks so much. it has baffled my mind in the last few days. coming up, carsten block and

out. waters speaks ♪

alix: welcome back. the commodities trader noble group is under pressure from research groups to make its financial reports more transparent. the stock plunged after some of its practices were criticized by carsten block, the founder and director of research at muddy waters. stephanie ruhle spoke with carsten block today. they use the word brain damage, and i use the same phrase internally to describe how difficult it is to actually publicly short stocks. and the point that he made, you --w, that you do the work

and i'm not passing judgment on herbalife. but you do all of this work and you have high conviction and you come out and speak to the market, and you get attacked left, right, and center. yes, that is brain damage. you have to have really thick skin to do this. stephanie: designing you are changing your tune? we saw you go along a few months ago. is going short the muddy waters wave of the future? we do oure way research is conducive to shortselling. we don't like to prognosticate on the future and what will happen at the company over the next year or few quarters. we are generally looking backwards at information on the company when it is released. and the question of whether this information should be richer -- should be interpreted differently than a market is the markets were long, that was possible.

because it was a situation when the market was not understanding what the economic underlying each share really are. but this research is a lot more conducive to shortselling than long buying. stephanie: what if you have someone like lenovo, but they've got a bath -- a backer. do you look at that short and say it is not worth it? carson: the whole situation with said, they- thomas are not necessarily investors. not really our fight. it is something that has been on the radar for a couple of years. a yearted researching it earlier and had a conviction at that point. what happened in this case is a formal -- a former noble employees did research and started distributing that critically.

we short-lived and then published our view that we think this is a very bad company. stephanie: are the fundamentals were seeing? we saw a -- are the fundamentals worsening? we saw a 30% drop. you really don't know what the underlying economic health is with a company like this. engineer not able to better profits, so that says to me that the core business is deteriorating. i think it has been pretty bad that they have been able to paper over it with engineering. stephanie: clearly this has been highly debated. larry fink saying that it is not they are sitting under the desks of hoping that i asterisk do not come knocking. carson: you could say that there are two types of activists. i am not a believer in the financial engineering type of activists who comes in and says -- stephanie: buyback.

buyback. yes, i don't think that is helpful to the economy at all. there are companies that have this optional boards. just dysfunctional governance. come in have activists and hammer away at that, i think that is very helpful for the economy. individual what the activist investor, you know, what their egos is. stephanie: carsten block of muddy waters, always strong words. julie hyman has more. -- pollor your logo, loco earnings-per-share beating by just a penny at 18 and. revenue of about 11% to $94 million. and, restaurant sales rather than five point 8%.

-- were at 5.8%. also the maker of candy crush also falling in earnings will stop alix: take you much for the market wrap. that wraps it up for bloomberg market day. i'm alix steel. have a great night. ♪

>> from our studios in new york city, this is charlie rose. rubio thearco republican senator from florida announces plans to run for president last month. he sits on foreign relations the and and hence committee and outlined his foreign-policy doctrine today at the council on foreign relations. i spoke with him following those remarks, including questions .rom the foreign relations in previous quest -- conversations with me