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i want to stay on this health care thing a minute because senator chris dodd misspoke when he said it would have cost cutting. i'm reading from the "washington post," cbo, congressional budget office chief said the democrats bill would significantly increase rather than reduce public spending. when answered to a question, he said the trajectory of health care spending will rise by a

significant amount, the legislation significantly expands the federal responsibility for health care costs. in response to a question, will it bend the cost curve down for health care. >> elmandorf said the curve is being raised. let me get this right, we're going to spend more on health care not less, and we're going to pay substantially higher taxes to do it. that is a terrible deal for americans! i think this thing is a turkey and should be completely abolished. mr. chris dodd ought to think twice, he is giving us bad facts. i'm larry kudlow, "cnbc reports" with dennis kneale begins right now. >> good job, larry. i'm there with you, like he said, let's get this baby started. >> all right. >> tonight on "cnbc reports," hearing the charge, another big day on wall street as investors near and far applaud the comeback. we are earning central.

this is a key night. tech scores, ibm and google leading the way. jpmorgan also blowing past estima estimates. tonight, another influential voice joins the dennis kneale led chorus. >> this horrible frightening recession is ending now. >> he's one of the world's biggest bears. robouni says the worst is behind us. this is july 16th. the bull run runs on here on "cnbc reports." >> two words. yippee! good evening, i'm dennis kneale. the biggest surprise in the markets today was what didn't happen, the dog that didn't bark, stocks didn't take a tumble and give up their gains after roaring 3% in a single day yesterday. i got to tell you, may be another sign i said on june 25th, this recession is ending right here right now. instead of stocks going into a

pr profit taking tailspin, we have the nasdaq rising another 1.1%, nasdaq up higher as well. s&p 500 big company index, up almost 1% to a new milestone of 940. i'm sure we will see some bumps down tomorrow or next week. as i told you last night, this is a sizzle stock market, split personality, bipolar, recoveries never a smooth path headed only skyward. no denying, hope is on the rise. let's get to the real deal with dennis kneale and dissect this a little bit. signs this recession this recession is dead-end gone as i've been saying. also i have a couple recovery killers that could get in the way. they come mostly from the obama posse in washington. we'll talk about those. let's sell the hope first. it's what i do. here's the biggest surprise of the day, nouriel robouni, the

biggest doomsayer in 2006 was quoted today saying the worst is behind us, get ready to get out your party hats. then roubini hours later renegs, says hey, i was taken out of context, he's still selling the doom. not a problem there, we have plenty other upbeat notes. jobless claims came in much better than expected. new claims plunged by almost 50,000 from the week before. still at a high, but way less than expected.. this looks at how much jobless claims are up from the week before. you see in june, they were getting up, they were up above. suddenly, they start to go down, look at this baby, each week, the decline from the week before is getting deeper and deeper still. it shows you the worst of the jobless problem may be over. job losses are on the wane. go past that.

we got that up. good. another point. this should be the jpmorgan earnings chart. net income, 2$2.7 billion in a single quarter. that's like ten times what wall street was expecting this company to earn. a year ago, $2 billion. when's the last time we saw any bank come in with earnings higher than a year ago in this time of meltdown? earnings up 36%, go figure. the last week, morgan stock price, very nice, up 7 1/2%, not too shabby, i'll take it. imagine if you bought that at the right time. that's on top of goldman sachs earnings rise. google earnings, strong, too. maybe the world isn't ending g after all. i'll be darchltd maybe the hope builds tomorrow.. big earnings coming out, so far, surprising to the upside.

earnings central time, here's brian shachtman. >> here's a question to start off with. if you make money in a quarter, how much is enough to get the stock to move up after earnings? you have to protect it at 1 1/2 to $3 billion. google made $1.5 billion but getting hit pretty hard in the after-hours trading. why? some saw the news as huge expectations. they don't give any guidance. that is really important. if you're a growth company and either don't know what the growth is or think it might be slow, that's scary. no one knows how much is in their future. if you're more of a value play like ibm, $3 billion does the trick. not the 30 cents a share, the raised guidance, better margins. ibm's top line wasn't that great but its margins were huge and will remain so, at least that's what the guidance is telling us. dennis did a pretty good job with jpm. won't tell you too much about it

but made 2.7 billion, the other biggie of the day. it was like goldman, consolidated after earnings and kept the gains it had previous. that's important. consolidation isn't what investors want for bank of america or ge, it wants more than that. watch it on squawkbox, they will report on the expectations and what's necessary for these to pop. we will talk about these in 25 minutes. >> brian, let's analyze these numbers with two bears and two bulls. john mauldin, mdan fisher and chief economist -- i'm sorry, tommy williams, president of williams financial advisors, we didn't put little bulls and bears incigna there, keep me guessing, let's start with john fisher, you're a bull. what did you think of today's action? will we have a big pull back from friday or what.

>> i think it's been building all week. tomorrow is a big day. i think we will find out how bullish investors really want to be with what are likely to be some pretty sloppy, pretty poor quality bank numbers from a lot of big well-known banks. ge's always a mystery and pandora's box what they will say and how it will look. >> we had upearnings of goldman, nice at jpm. you are thinking bank of america and city will tank? >> i don't think so. i think the financial service sector will continue to lead the return. thick they're all going to be watching your program tonight. i haven't so much optimism on the national news in about two years. >> there you go! >> i'm pretty excited. >> someone has to lead the way, it's not like i will never be wrong, i may be early, but i'm not. now, for a total change of news, dan, bring us down, bring us

down. >> i think the earnings picture is pretty on the surface, goldman was fantastic, they're so different than the rest of the world. goldman and jpmorgan the two best banks in america, i can't expect it to go to city bank or other financial services companies. >> john mauldin a lot of these are priced for armageddon anyway and not doing terribly might but investor sentiment behind a rise, no? >> not priced for -- it -- it's not priced for armageddon at all. these stocks are priced still for a bull market. the economic scenario you were talking about earlier, the jobs report today was absbsy ugly if you looked at the real numbers, not the seasonally adjusted numbers. we had the highest number in real numbers we've had this year. >> seasonally adjust, happening now. >> because of autos. >> wait a minute. if we seasonally adjust. you guys are the same ones saying when it's not seasonally

adjusted.. the fact we seasonally adjusted it to make it a more accurate reflection, right? >> i'm not one of those guys. i'm telling you when you go to the commerce department itself, their own data, they're telling you they're having to make an odd and unusual seasonal adjustments because of the auto industry. >> sure. >> that's why we're seeing lower print numbers, in the face of getting the highest actual number we had this year with 676,000. you didn't see that in any data. >> earlier this year and now the claims are coming in way way below that. john fisher -- >> i'm telling you today the number was 676,000. >> what are you talking about. >> today's actual number. >> there's been a plunge in the four week average, there's a huge down. >> i think the bias for the market for the rest of the year, thanksgiving, maybe around christmas time, the market wants to go up. it wants to be optimistic in

2010 and investors want to say back to school is better than last year, christmas is better than last year, earnings trending better. >> we're comparing to awful results a year ago, right? >> be that as it may, the bias of the market, bias of investors right now is the stock market wants to go higher. you can put in the numbers however you want to. but investors are going to take this market higher over the course of the rest of the year. in 2010, they'll be disappointed when reality hits them and things aren't as good as they're hoping for now. >> you can't position your portfolio for 2010 now and leave returns on the table. >> this market has shown ability to move much higher than you bears ever expected it to and then goes down and moves much higher, we might be on the brink of another one of those. >> it's possible. you need to look at the prettiness of the numbers, ibm and google look like great profit. most came from cost cutting. >> i'll take it.

it means other big companies will benefit from cost cutting, too. you know what, i think it's pretty clear, cost cutting is behind us, the worse is behind us, hope coming ahead. those bears better get out of the way, this freight train is about to run over all of you, bulls and bears, thanks for coming in on another big night for the markets, a night that proves i'm right! it's all about me apparently. i'm picking winners in tech financials and naming names. also, things get in the way of an even bigger comeback, how about a 57% tax rate on the highest earnings in wall street in new york city? yikes, guess who's behind that? wait until you see harry potter and his hogwart friends. and big numbers on the s&p today. we're back in two.

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funny subversive stuff comes to us from corky and burchlt i have to tell you, i think it's another sign this recession is over. when we can start to laugh about

it, maybe it ain't so bad. let's bring in the real deal squad to find out whether they concur. joining us tanya acker. and sporting fancy new glasses tonight and radio host reg already contributor "washington post" examiner, greg, the sharp tongued guy. let's start with you. i think this is a good sign. what say you. >> it's great. i don't think we need magic, i think we need common sense and fairness in the economy. i don't like what i'm hearing about taxes. bottom line, what are we saying? we'll do a surcharge, surcharge, so people who already pay almost all the taxes in the society can help those who pay none of the taxes in the society to give health care and health insurance to their children. what i would ask the panel, i would throw this out. where is the equity in that? where is the fairness in that. >> tanya, you only have to earn $156,000 to be in the top 10% or top 5% of earners in this

country. you're definitely there, you will be paying more, what do you say. >> the surtax for health care benefits is for those making $350,000 a year or more. what i find interesting about this conversation, we're hearing a lot of same arguments, just as you hear the right wing try to stir up a race war vis-a-vis the sotomayor hearings, wait a second, just as they're trying to stir up a race war, you're hearing class war fear vis-a-vis this health care conversation. >> falling short because any guest has a rule at cnbc and any guest who uses vis-a-vis more than once in the same paragraph, we have to cut them off. next topic, things are looking up. what can kill this recovery for an answer, look at the front page of the new york city post today. sick joke, obama-care costing new york's top earners a 57% tax rate. that's to pay for this.

monstrosity, president obama's health care reform program charted by republicans to show how evil this entire plan will be and what that machine will look like. 57% tax rate, is that fair? some form of government take 60% of my money! >> we're talking about a health care plan that will extend coverage to 37 million americans. >> i care about me! >> we're talking about a surtax, we're talking about a surtax that will hit perhaps about the top 2 million. i dear say among that 2 million there are folks with pre-exi pre-existing conditions that can't get insurance now that will be able to get insurance down the road. >> hold on a second. >> we're talking about three-quarter of bankrupts, three-quarter of bankruptcies. >> you want to talk about fairness, let's talk about fairness, the top 1% earns 20% of the income but pays 39% of the income tax, almost double their fair share. you know what we need dennis,

harry potter with taxi muss mittimus thing to get us going a little wand thing. you were saying we're about to come out of this recession, start the recovery, this is like a heart patient recovering, the doctor saying, he's getting better, quick, more leaches. that doesn't work! >> you're a rich guy, you don't want to pay 60% of your income to government agencies, do you? >> i did the math today, i literally sat down and figured out how much is this going to cost me? i was actually deeply horrified by the number. >> you were? >> of course i was. who couldn't be horrified by the number. >> tanya. >> but -- >> can i jump back to the point. >> hold on! >> let michael finish please. >> then i sat there and said, what do i get for this number? the first thing i deducted, health insurance i have to pay for my adult children, who i wish they would pick it up for

themselves but they haven't been. i thought then of all -- i thought, well, would i do this if you said, a country that gets its health insurance paid for, a healthy country. would i sacrifice what it would cost me and you know what -- i thought to myself, maybe i would. maybe i would rather -- >> you-zmish'd like to give to charity on my own. >> you have to decide -- >> you're wanting to decide that personally by doing the pros and cons, good for you. all americans should be able to decide that. it shouldn't be forced upon us. i believe in an unconstitutional way to take money from these companies. >> that's called taxes. >> may -- >> you have companies that provide health care. >> that's not part of the system that you get to decide what taxes you pay. >> every -- this is -- we live in an american republic. all the time, we delegate decisions about the well-being of our community as a whole to

decision-makers. this notion you get to sit down and decide and make every policy decision by yourself in the privacy of your own home without thinking how it impacts your fellow countrymen is false. >> if i go out and have three children -- >> when we get back, i have to pay some bills. real dealers, input on the president's bad medicine. stay here, i'm not finished. >> you guys see hank paulson get called into the capitol woodshed tonight?t? i am sticking up for hank paulson. >> ge and bank of america on the list of earnings. and picking stocks with two of the biggest in the biz, more in two minutes. ?

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investigating whether paulson improperly pressured bank of america to go through with its troubled deal to buy merrill lynch, supposedly. but the real agenda came through in the questioning, the real agenda was to give congressman an opportunity to beat up on hank paulson and grab camera time. this may be the most infuriating exchange of the day. >> since appointed by president bush as secretary of treasury in 2006 until today have you or any of your family had any financial ties or investments related to goldman sachs in any way whatsoever? >> no. >> thank you. what about bank of america? >> not that i know of. >> president bush was not the first president you served. who was the first president you served. >> richard nixon. >> richard nixon. >> now, see, this is where sometimes i wish we could use the f word on cnbc because if i may address the gentle lady congresswoman from ohio, how freakin dear you, hank paulson worked for nixon 35 years ago.

what in hate teaties name has t got to do with hank paul on? he's plainspoken, high intelligence can border on arrogance but hank paulson helped save this economy from an even worse collapse. let's bring back the real deal squad, michael, tanya, greg, michael, start us off, can i get a witness? >> i don't know. if you're the treasury secretary and the economy collapses on your watch, you know, you're going to be in the hot seat. i think it's at best naive to think that hank paulson is not going to be dragged over the coals. >> questions about nixon -- >> dennis, i am no fan of hank paulson, you know my theory on t.a.r.p., they stole money from the american taxpayer between bernanke and paulson, paulson forced the president to do this, it never should have happened. let me ask this question, say b

of a had collapsed, say merrill lynch collapsed, i say so what? so what? what would have happened -- >> so irresponsible, greg knapp, we saw what happened when lehman collapse, i don't think i wanted to see any other big banks collapse. >> i don't want to see any fail. congress should be blamed and paulson should be blamed because he already changed his idea what to do with the t.a.r.p. money before the ink was dry on the bill.. he admits that. bought the toxic assets, threatens ken lewis to be fired if he doesn't do the merrill lynch deal. i don't believe he didn't tell him to say anything about lynch's bottom line. this guy says he never ever used e-mail. anybody buy that? this entire panel, it feels like is it right for the congresswoman to say, is it right you worked for richard nixon in '72? >> she's wrong to talk about nixon. let me ask you this, i still

haven't heard -- >> wait, wait -- >> i want somebody to tell me, why would it have been bad for merrill, b of a or citi, wouldn't new institutions have been formed the next day. >> hindsight is 2020. >> which is why congress ought to be looking forward on what to do next instead of looking backward, trying to point blame, tanya. >> dennis, this may surprise you, i will agree with you. one of the things that's truly interesting is how for the past few days we've been talking about this great recovery, looking at goldman's earnings and we want to divorce that from the fact there was this large government intervention a few months ago, right now, you're seeing folks on the left and right who want to do grandstanding, want to string henry paulson up, saying why didn't we let everybody fail at the same time saying look at this recovery happening.g. i dear say without that intervention we would not be looking at the recovery right now. >> dennis, let's go back to that

there is -- blame is not a bad thing, that's called accountability. it's the kind of thing, if you go into government service, the cost of being at the center of the action, of making history is that you will be blamed for it if it goes wrong? if it goes into the crapper. >> i don't know that it's fair -- >> congress wrote this t.a.r.p. bill so the treasury would have the power to do what it wanted. >> i agree with michael on this. what happened with paulson and bernanke is these two guys exploited a crisis to build out government controlled monopolies, they expanded -- >> no, they responded to a crisis. >> what do you mean, exploited, my friend. >> do we really think they were getting their kicks making $120,000 a year? i want to explain -- no, they were trying to do the right thing. >> they weren't trying to do the right thing. >> no, no, stop! they jumped in, in the middle of a crisis. it's so easy now for a lot of

folks on the right to suggest, we should have let everybody fail, should have let everything crash and had all kinds of new brilliant institutions taking the place of the banks. >> michael wolfe, wrap it for us. >> if you're the general and you lose the war, you get blamed for it. simpl simple. >> he didn't lose this war, we're winning this war and this recession is over and this collapse is finally behind us. >> i don't think so. >> thanks very much, guys, you're fantastic, still a lot more ahead tonight, folks on "cnbc reports." cheers on wall street as the rally rolls on. earnings behind the charge, jpmorgan, today's big winner, we're all over it coming up. ge, bank of america, citigroup, all report tomorrow morning. the big question tonight, will they lead us to another big day? we're covering wall street from four different places. what the run means to the rest

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that was "nobody does it better" a subliminal message for you. here's a real deal for you, ain't recovery grand? the numbers that support me are looking up. jpmorgan, google, ibm, lower jobless claims, four week average, down way under 600,000. nice rally in stocks. my mom raised me to protect against disappointment, i never get my hopes up but i got to tell you, my hopes are up. now to brian watching big numbers today with ge, citigroup, bank of america all due tomorrow morning on squawk. >> it will be fantastic. i want to take it quickly today, we will have the financials in a second. they will be huge.

when it comes to google, one stop shop, slight stop on the top line, big bead on the bottom. you want to know why? no guidance aon growth. now, ibm, little light on the top, big beat on the bottom and theyed up guidance. the street, they love the guidance. that's why that stock is getting popped right there. that's why a little bit of value is doing pretty good over growth. jpmorgan, solid numbers, put the concerns over the consumer, contain the enthusiasm and why you had a little bit of flat day. in the end, goldman sachs, jpmorgan were impressive. citigroup could give you a little bit of shock or ah. bac, huge loss from a 7% gain.

citigroup, get this, 76 loss ranging all the way up to a three cent profit, the consensus for a 7% loss. if citi show s s a profit -- i don't know why that did that. dennis, how did that do that? >> you're the telestrator. >> that's a huge loss. let's talk about general electric. this stock, it seems to move like the titanic. i'm sorry, i love my job, is it a $12 stock? i had one analyst tell me sincerely, and he has a job, that it's a $2 stock. there are others miffed at the low levels, 16 to 27 cents in profit is the range. keys top line growth, ge capital, guidance. they all report tomorrow on squawk. like microsoft and ge kind of the same.

great big up days, great big moves, they don't move. >> people are tired of them. they always want the young new life guard on the beach instead of the big guy earning a lot over and over. >> pretty good metaphor. >> goldman, jpmorgan, the big strong buff guys at the beach and you have bank of america and citi, we'll see how they look. >> if the consumer's weak, jpmorgan had enough investment business to offset. but citigroup and bank of america are enough to offset any consumer. >> the slightest up tick could bring a pop. >> if citigroup makes 0 four cents a share, off to the races. >> then we have another boost. thanks a lot, brian. earnings, continue to surprise the upside, further pointing my point the recession is over. better than expected numbers from jpmorgan, ibm and google, looking ahead to earnings. i think i already read this,

didn't i? are we doing it gain, earnings released from yahoo. we're going to talk to a couple experts joining us with winners in the financials. richard, financial strategist and cio at alpha 1 partners on technology. let's start with financials, dick dick, i know you didn't like the jpmorgan numbers even though you endorsed the company's outlook and sticking with the stock, right? >> that's right. the problem with the numbers, if you took out the capital gains in the quarter, the company would have lost money. division by division, you saw them make a lot of money on equity underwriting and fixed income underwriting, when it came to the core businesses of the company, they all did relatively poorly. however, i think by the ends of the year, as you do, that the economy will be moving higher, and in that type of environment, this company should do extremely

well. >> dan on tech. i've been waiting for tech to pop and finally, it's happening. i think there's still a lot of room to run here. what do you say and what stocks do you like? >> sure. i think tech does have a lot of room to run in the third quarter. the big thing that's happening here, you've got all the inventory getting burned off in the first half of the year, that's not happening anymore and the benefits of the stimulus are coming through and helping a lot of these companies out. >> a lot of corporate customers holding back purchases and at some point, their space is full. >> i think you will see benefits to that. one is through q 3. the quarter that bothers me is q4. people are getting very optimistic. intel had their best q2 in 20 years and expectations starting to get ratcheted up. q4, you have more discretionary spending around the holidays, people aren't careful, that may serve to be disappointment. >> what tech stock are you

recommending, one or two? >> the ones i like are the ones that benefit from a tougher economy. e-commerce name, ebay, one we own and tyco electronics will benefit from the auto company starting to recover. >> there's a name, all i think of when you say tyco is a $7,000 shower curtain. do you like either of those stocks. >> i have recommendations on both. >> yeah! >> you can split the industry into two halves, right? those companies involved in securities business, underwriting, fixed -- sorry, underwriting, investment manageme management, trading, those companies are doing really well. the other half are those in traditional banking and those companies have real problems because i think 50% will show losses last week when these regional banks report. you stick on the security side, you have goldman, morgan, you

have jpmorgan, you have bank of america, citigroup, bank of new york, northern trust and state street. i think all those companies are very attractive and should be bought. >> dan, back to tech. we have a dichotomy, intel saying, it's looking pretty good, ibm saying it's looking pretty good in the second half, then we have dell saying no, it's not. is it a rising tied or do individual companies have their own separate problems. >> right now, you have a ferocious rally since the march lows. each company is different. touching on ibm for a second, they did miss the revenues on the top line. let's not forget that. the difference is ibm has a lot of levers to pull and high margin businesses like software and services that can make up for that. what you will see happen, you have to have companies report good news. less bad than expected isn't going to get it done anymore. >> are you recommending ibm even

after the 5% run-up today after-hours. >> it's not a name we have investment.. it's not one of our favorites. we do have investment in hewlett-packard. we like that one better. they've obviously had a lot of issues with their printer business, starting to stabilize. >> with hewlett-packard, i heard dell recently eked out a little market share? that's not bothering you with hp? >> hp, i'm not sure which statistic you're looking at, globalally, hp is the most dynamic, they're more diverse geographically, have more business in asia and overseas and the printer business very helpful and services business with edf they acquired is a lot of cost ring out of there and it's a very cheap company. that's the horse i'm going to play. >> both of you guys had a lot of good specific recommendations, thanks for coming on and providing them free of charge.

we appreciate it. the bulls are back in town. i'm happy about it. next up, we go across america from see xining -- you know, on improving corporate earnings. will it mean higher stock prices, stronger portfolios? you bet you. will it mean some of those lost jobs are coming back? maybe not right away but i sure hope so soon, straight ahead tonight. announcer: what are you waiting for?

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groceries, gas, entertainment, and more. get up to 25,000 bonus miles... with the gold delta skymiles credit card. call 1-800-skymiles to apply. this is the official card... of the world's largest airline. "across america," earnings season is under way, let's get a pulse for key areas. steven with the denver post, jonathan with the "washington post" and in seattle, kri radio and marvgail marks jarvis did ue favor of creating rebecca jarvis, she is rebecca's mom. give us a taste including the new starbucks plan. >> we have three big companies reporting next week, starbucks, boeing and microsoft. starbucks has had a number of

different things in the fire trying to create business, get it back online. one is going undercover. they're opening a new store in seattle that will have no starbucks branding and pilot a couple more in seattle and see if they push it out across the rest of the country. you have to understand in seattle, people like neighborhood coffee shops, what starbucks was like in the beginning and lost it as it exploded. not sure if this will work elsewhere where people look at starbucks as a big coffee. >> is it that starbucks realizes the only way to expand is to hide our brand. >> and what if they go into it and find out it's starbucks and didn't want to go into a big coffee shop. you have to give them credit, they will sell alcohol. >> alcohol sounds like a good thing to do, especially if you don't like your job in the mornings. gail, what's going on in

chicago. >> people are skeptical today, skeptical of all the excitement in the bull market. they just had unemployment figures come out 10.3%. the good news was the pace of the increase seems to be slowing. >> the pace, yeah, i'll take it. we need some good news somewhere. jonathan, "washington post," earnings-wise. >> here in washington we had earnings from two big employers, first game ginett, they actually showed a $70 million profit in the second quarter? eureka, my company. >> let's temper the good news for a minute. they had a $2.3 billion loss at the end of the second quarter in 2008. this was much better than analysts expected. here's the problem. revenue is down in all of its sectors, revenue is down at ginett. the other company reported earnings is marriott in

bethesda. it was really -- their numbers are really down. let me read them to you. >> that's okay. no time. we have to move on, sorry. it's television. >> let me go to steve in denver. what you got on the earnings front. >> most of our companies won't begin reporting until next week. we'll be in particular watching energy companies, williams and conna, bill barrett. we don't expect second quarter earnings will match. and vestus, a danish wind turbine manufacturer. >> one question what he just said, people are a little wary of this bull market run. i think it's starting to spread hope. isn't it a good indicator maybe we're starting to feel a little better? >> it's hard to tell what the market means as far as rebound economically speaking. we are seeing improved home prices in seattle for the first time in a couple years and sales

go up. unemployment is a big concern, it's twice as high now as compared to a year to hear from business owners that they're having to layoff people. they held off for a long time. the big companies had to give up the cuts because of public earnings and things but now we're getting smaller companies fighting and holding on for a long time are starting to give up employees. there are concerns there. >> i hope things turn around. let's go around the horn. what business stories will we see in your paper starting tomorrow with steve in denver? go ahead. >> we've got state unemployment numbers coming out tomorrow.. we will be all over that on the web at denver post.com. we expect them to be going up. >> jonathan capehart, "the washington post." >> i think we'll be looking at all of the earnings numbers coming out tomorrow and through the week. >> what do have you for tomorrow? >> we're looking at the impact of cit group and what it is going to mean to other companies and, of course, i'm continuing

to tell people that their nervousness about investing in the stock market could come home to haunt them eventually because people are very, very dependent on bonds and there is only so long they can count on that. if you look back at what's happened so far, people are shocked that they've lost 7% in a typical bond fund and i'm telling them they can't just count on bonds. >> they have to start putting money into stocks. they really got to. >> they do and i've tried to encourage them by looking at what has happened historically. >> right. jawson, take it home for us. >> the commercial airplane business is not dead. boeing just scored an order from south america. there is some hope for the big guys like boeing. >> that's the new, robust economy, when stuff is not dead. all right. thank you very much for being with us tonight. appreciate it. up next, it's battle of the bloggers time. i can't help it. just go right out to those guys writing smack about me online. blog you, baby! undefeated professional boxer floyd "money" mayweather

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heard today from a pretty good friend of mine. friend first, blogger second. he tells me i am missing the point of the blogs fear.

everybody trashes each other to get attention. nobody really means any of it. and then they all sit down together to have drinks and laugh about it. great. a whole bunch of digital dudes snapping towels at each other all in good fun. i always hated phy-ed. elsewhere a blogger weighs in today to say that, quote, dennis kneale's hope is misplaced. what is it with you bloggers and the whole anti-hope thing? why be so damned doomed? don't you get bored with it? so this guy, he calls himself pdizzle and points out if you're fat hope won't help you. you have to eat better and work out more. hope, this person says, is, quote, only useful to the extent which inspires you to actively improve your situation. thanks for that blinding glimpse of the obvious, guy. but that's just the point. hope can change our behavior. the hope comes first then the result, not the other way

around. now, this brought out the sniper. here's one comment posted. quote, lol. by the way, can i just tell you, i hate lol, short for laughing out loud. lol is so juvenile. lol, i'm watching dennis kneale right now. i think i'm more qualified to do his show and his woman. good one. well at least you didn't say i was gay. all right. so then there's this oddity. an actual nice comment from another poster and at another site. monkey business blog. he says, quote, well, i'm not sure if the recession is over but i do give a man credit for sticking his neck out there. i love you, man. but i will close with an unintentional compliment from that first guy at seeking alpha, the pvizzle guy. he writes, quoting here, perhaps he tells his readers you should adhere to mr. kneale's advice. after all he's been in the financial industry about as long as i've been alive. he goes on to say why you

shouldn't do that but i think we'll just leave it there.e. well said, you young pup. i'm dennis kneale. that's all for us tonight.t. cnbc reports is back at 8:00 tomorrow. ge earnings on squawk. have a great night. welcome to progressive.com. you must be looking for motorcycle insurance. you're good. thanks. so is our bike insurance. all the coverage you need at a great price. hold on, cowboy. cool. i'm not done -- for less than a dollar a month, you also get 24/7 roadside assistance. right on. yeah, vroom-vroom! sounds like you ran a 500. more like a 900 v-twin.