$thirty-three million to all changes and we don't admit to facility, but we settle the charges and the stock moves up. not bad. 33 million to pay out and settle bonuses. and 10 minutes later, big management changes. new executives in and out. she is in an important position. the important thing here is that this was really handled in a very, very professional pr manner. the stocks didn't drop much. rick, besides that, the other thing is the new lows are helping commodities and commodity stocks today.

the dollar and how integral the moves are pushing prices. the dollar right now about about 7/8 of a cent. it is without a doubt the number one story they have tentacles and fingers in everything. everybody's question is how will this potentially dove tail with maybe the sloppy auctions and what's going on with regard to deficits and spending? is this part of that or a general notion of less safety or combination of both. no matter how you slice it. >> brian and a check in with you on a story we will tackle later

on in the program. the google versus apple, i don't know what we want to call it. it's unclear. >> one thing that is clear and i wanted to touch on apple and google.. both are outperforming and people are taking money out of and putting it into another.r. people are bullish on both and no conflict of interest. how can that guy be on the board and make it competitive and they said listen, what happened with ple not giving a google application. we know if the gloves are going to come out, there won't be mr. nice guy and when it comes to mobile phones or whatever you top the talk about, google will be involve and apple is going to try to fend them off. >> thank you very much. we will have a lot more on that saga later in the show. thanks to all three of you. the fate of cash for clunkers.

will the program get more money and what cars are people buy something joining us now to discuss, secretary? we are talking frequently these days. certainly what you said came true. many, many people have been going in. if the program does not get the funning from congress, when will the dealers have to tell people it's over? >> this is a wildly popular program and the two billion additional dollars for the program that continues to pass the house will go well over 300 votes and the house members knew the people wanted it and we are working very closely with the senate and the white house to be sure that senators know how important this program is to the

automobile industry and the american people and american workers. this is the one stimulus program that seems to be working better than any other program. it's a lifeline to automobile makers and we will work closely so they pass like the house did. >> you are confident they will pass it. there have been focal voices against t. you will not go there, shall we see in terms of what will happen? . >> we think we have the facts on our side. we really believe that the fact that so many deals were made so quickly within four days and we went through an enormous amount of money that we believe that this is a win-win for our economy or american workers and the obviously industry.

obviously auto sales today have born your point out. the last week of july brought a huge surge. under the new program it said about half of the vehicles are from the big three. about 47%. that being looks to be in line with their share of the marks.s. does anything stand out in terms of strength or reakness of the big three? 80% of the vehicles are trucks and suvs. these are the gas guzzlers. the share of the ones that are being performed where people are getting a rebate are automobiles with nine miles per gallon better than the vehicles that are being traded in on average. we are not only getting better fuel-efficient automobiles, but

taking the so-called gas guzzlers off the road. this is the win-win for those who are concerned about clean air and workers and that is working very well. >> on that point and the numbers are here and as you said, the fuel efficiency going up, but one thing looking at this with a fort 150, one of the most popular trucks in america. you can trade in a fort 150 that gets 13 miles a gallon or 14 miles a gallon and buy a new 1 that gets 15 which is what they get.t. you still qualify under this program as driving a fuel-efficient truck. that one stood out as not making sense, right? one mile a gallon better and you are driving out and that's fuel-efficient? >> look, erin. when you look at the totality of

what happened already, people are driving out with a 9% more fuel-efficient automobile on average. that's proof that this part of the program is working. the number one selling car is the fort focus. it gets very, very good gas mileage. if somebody is trading in a gas guzzling truck or suv, the program is working. 80% of the ones that are coming in are gas guzzling trucks and suvs. i believe that the statistics show that the car dealers are selling automobiles to get much better mileage. >> secretary, thank you. we appreciate it and it has been a tiring two days for you. >> cash for clunkers is great for auto companies. american and foreign. sales up 4.3%. if the same level of traffic continues, they can sell 15 to 16 million cars in a year. that was back to the peak of how many cars we were selling when

you could put 0% down and all those things. ford is only one of the companies benefiting. take a look at the models they have eligible under the program. the one thing we want to highlight and the transportation secretary, they have 74 that qualify. 53 of the 74 are trucks. the fort 150s average miles per gallon is about 15 or 16. that qualifies as fuel-efficient. the average mileage for hyundai is a 28.4 miles a gallon. joining us to give insight on how the program is affecting sales, scott adams and vice president of hyundai north american sales and brian is back from the manager. good to have you with us. let me start with you, dave. cash for clunkers.

how much of an impact did it have on hyundai? >> it had a big impact. we did just under 9,000 deals that represented about 22% of the total volume. it was a very, very important stimulus for us. >> how was your weekend, brian? >> outstanding. >> that halo effect really came through. what are you seeing, sir? >> about the same thing. it's been something for the toyota business. it's been way more than 60% of our business. especially when we thought we may run out of mone. >> are you confident even though

there has been talk from the likes of john mccain that there may be a hold up? >> it's a no brainer. it would be suicide for them not to do it. too many cars and too many customers to satisfy? that wouldn't make sense. the deals that we did this weekend generated nearly a quarter of a million in sales tax revenue for the state? everybody wins under the program? >> we are running at an annual rate of 15 to 16 million. some may say that is building a bubble here in car sales. >> that's a little bit aggressive and the original assumption with clunkers that would represent about a 7% increase and the four-month program is approved.

it will stimulate the industry and we are thinking maybe to the tune. >> you are well aware that the program didn't start last week. the program started and you can take preorders in july that might make people think about whether there was a surge and how sustainable it may be. what is your sense that this program is $3 or $4 billion in size s. there a million cars on it. >> we have come up with a program. the government was not meant to do this on their own. we came up with a program to fill in the gaps that the government program does not satisfy. namely short-term leasing and

used cars. it will call auto stimulus.com and put our heads together to fill in the gaps and no cars or customers gets left behind. we had a number of customers and 12 miles i gallon and shows they don't qualify. we came up with the customers that have the opportunities to participate. >> what about the issue that i raised for secretary la hood about the ford 150. we get 13 miles per gallon and according to cars direct is about what they get. that qualifies. as fuel-efficient and a $4500 rebate from the government. that's pretty hard to stomach. >> i don't know that i want to do a spin, but that's a small part of a big program that. can happen, but it's not happened to

much. most of the people into our places are really making a transition from a big older car or a big older truck or a big older van to something smaller like a hyundai or corolla or something like that. that's possible, but it is not happening often.n. it happened none to us yet. >> we will leave it on the glass half full note. thanks to all three of you. appreciate it. asian car makers just showed that are thriving. the top business leaders are concerned that asia could be the big winner from the next great global industry that touches on the cars program. that is alternative energy and going green. our boss wrote in the "washington post" that caught our attention. china is already in the lead on alternative energy. only one of the top five companies on earth is american and only one of the top 10 solar companies is american.

they say unless congress acts soon, the u.s. can lose the technology race while still in the opening heat. this is something the viewers have seen that and both said this for the first time ever. china is number in wind. what do you think? the number one area of the future.. are we going to be number one or not. "street signs". a 10-month high for metal. the reason is china. it is starting to be a familiar chorus. we will tell the you how to trade that. from band-aids to benadryl. an exclusive interview with the ceo of johnson & johnson's bill weldon, our exclusive guest.

>> copper is trading at a 10-month high. he is the managing director and what is your feeder? >> my trade is fcx. not as an analyst, but a sales broker. i can tell you why. the global demand is starting to pick up, not just because of globalization, but gdp and stabilization, but demand is picking up. if you look domestically, the

demand will pick up in housing. it's up year to date and 7% today. basic materials is up up from the march lows and the june recess, it reengage and it's a classic example of that. >> you are comfortable with a big concern they had earlier. maybe this is stocks by china. he was pretty open and i'm not sure this was a shift in demand. >> one of the things i like particularly is this. you did the copper and the lowest cost of copper in the world, they had the largest production. the copper is the cheapest to get the market. they can get it cheaper than any other time in years. they are at the multiyear lows

right now. they have a lot going for them. and next, our exclusive with johnson & johnson ceo bill weldon. 1944. johnson & johnson are w a revenue. mike huckman's special guest and next, the gloves are off. google's eric schmidt is off the board and the battle over who will control the consumer is beginning. we will be back. has the fastest serve in the history of professional tennis. so i've come to this court to challenge his speed. ...on the internet. i'll be using the 3g at&t laptopconnect card. he won't so i can book travel plans faster, check my account balances faster. all on the go. i'm bill kurtis and i'm faster than andy roddick. (announcer) "switch to the nations fastest 3g network" "and get the at&t laptopconnect card for free".

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>> johnson & johnson is up 21 cents. the company's chairman and ceo with the 65th year and the stock exchange.. here's the report from 1944. pretty amazing. take it away. >> i think the revenue was 94 million back then and they did close to 70 billion in revenue last year. jnj just won approval of two different forms. this doesn't seem to be doing much for the stock participating in the rally. joining us for a cnbc exclusive

and my first interview with you is the company's chairman and ceo. good afternoon and thank you for being here. >> nice to be with you. >> i would like to start by talking about the data points we heard regarding the economy and the recession may be over or this may be the beginning of the end. because your company touches so many spartans of the economy, what's your read. >> being over or improving or two different things. you are saying the last quarter was down less and we have to take that into consideration. when you look at our business and break it on into the segments and our pharmaceutical business, each are being impacted by the recession. you see more private labels starting to affect the products and consumers. you start to see the business with the surgery. the thing that happened was as

we come out and we will be able to pick that up. you look at drugs.. for every 1% uninsure and 1.1 million people lose insurance. people are not getting prescriptions fill and taking them less frequently and all parts of the area. >> another is health care reform. do you think it gets done and if so, when and how ournous will it be if at all for the company and the industry? >> health care reform is so important and it's really one of the most important things we can do. what's really penitentiary is when you look at the interviews you have done, you find that a lot of people have health insurance and like the health insurance. we have to be careful we don't throw the baby out with the bath water. we have taken a position for years and it's similar to the

position. accidents. nobody can disagree to get access to good health care. the devil is in the details. access is very important. when you look at the effectiveness, that's important. you have to make sure that that doesn't limit choice for the health care provider. you and i may respond differently. the provider needs to know the best medications and devices and the best way of treating patients, but they have to be able to make choice for what's best for you or me. the one thing that's important that we have to always remember is that if we want our arms around seattle care, we have to look at wellness and prevention. we have to start going further back in keeping people healthy.

>> rather than letting them get sick and treating them. >> the company has done a couple of deals and you bought one out right and you bought a sizable stake in the drugmaker. as we stand here, how much cash do you have and are you going to do more similar deals or get caught up with pfizer and merck? >> there is not a deal that goes down that we are not consulted with or looked at. our way of doing things is to get into an opportunity and something has a lot of headway as opposed to paying a lot of money for something that is there and buying volume. we look at it and that's a great example. a $100 million product and it's now multiple billions. we look at the biotech as an opportunity to really look at the best way to treat prostate cancer and taking the beat for

alzheimer's and having a great run there and it's all ahead of us. >> this deal that you were talking about, some are saying it gives you dibs on buying. is that true or something you are looking at and do you expect them to push back legally? >> it allows us to find the opportunity to pick up is what is really does. >> and fired. >> we are very happy going with e land and where we are going with it and also taking that and being able to develop that for alzheimer's. we are happy with what we have available. >> let's talk about the story. fda panels that recommended that the agency low longer allows you to make this size dose to try to prevent overdosing. do you agree with that recommendation and if it does go through, what impact is that going have with sales.

>> as you are well aware, we do not feel that's the appropriate recommendation. we feel it's a save and effective dose when used appropriately. the dose of 4,000 milligrams a day is effective and a good dose and safe dose. we are dialoguing with the fda and will continue to make sure our intentions are the same. to protect the patients and get the appropriate dose. >> the jnj chairman and thanks again for joining us exclusively. it's a pleasure talking to you. we will be ringing "the closing bell". >> mike huckman and we are covering car sales. toyota out and car sales down 12.12%. down 19.3 and down 10%. it looked like they had weakness on the luxury lexus side

compared to july of a year ago. up next, jim will give you the trade he sees. the nasdaq over 2,000 and the s&p over 1,000 and the war of the watches. time exversus citizens and the battle grounds. he ran off with his secretary! she's 23 years old! - oh, come on. - enough! you get half. and you get half. ( chirp ) team three, boathouse? ( chirp ) oh yeah. his and hers. - ( crowd gasps ) - ( chirp ) van gogh? ( chirp ) even steven. - ( chirp ) mansion? - ( chirp ) good to go. ( grunts ) timber! ( chirp ) boss? what do we do with the shih-tzu? - ( chirp ) joint custody. - dog: phew... announcer: get work done now. communicate in less than a second with nextel direct connect. only on the now network. deaf, hardhearing and peopith speech disabilities .

>> welcome back to "street signs". i'm sharon epperson. the final trades in oil are around $71.50. we are up sharply today because of what happened to the dollar. the fact that oil posted $2 gains has a lot to do with the dollar index being at the lowest level since last september. oil prices are closing at the highest since the end of june. meanwhile when we look at what happened to the dollar, we have to look at what happened across the board. with sugar posting the highest levels on record. copper at a-month high and the uk slow down in the contraction

of the factory output and all that was helping across the board. tomorrow look for colorado state university's forecast. back to you. >> thank you very much. we are following developing details on two major stories about bank of america. mary thompson has the latest. mary, as bob said, it has been a carefully choreographed day. >> it's a settlement and a shake-up. the company's management shake-up and ken lewis is making changes to the senior team that puts a number of executive in place to succeed him. the former head of city's global management unit joining to run wealth.. charlie gasparino announcing. we have the five horses now not race to succeed lewis. the changes, they didn't name

names of the possible successors or say when lewis may step down. lewis has the full support of the board. twice-named on the board, the price paid and lewis's failure to inform them of the mounting losses in the fourth quarter. b of a seeing the charges with the sec paid to merrill employees last year. without confirming or denying wrong-doing, he will face millions in fines and making false and misleading statements alleging b of a agreed to pay 5.8 billion as part of the agreement to buy merrill lynch when shareholders voted on the deal and because of the size of those bonuses, it was material and the b of a shareholders should have known. >> we will have reaction there. it's a matter of time and i'm

looking at the what do you think about this in terms of ken lewis and his job. >> over a reason to fire him and now we have a million and one. the stock is going up because it so happen that is the particular point in the cycle, what lewis put together may be the coiled spring, but we are buy together hand over fist and that's what matters. >> you are a fan. >> she got caught up and anywhere knows this is the business you should be in. global wealth management. a great person and will do a fabulous job. i think that was just the kind of person they need in a good division to begin with.

>> obviously i remember she was passionate about that. >> she has got the right job in the best single wealth gatherer in the country. i congratulate her for getting that great appointment and for ken lewis for knowing that that's the right person to pick. >> fair point. jim, a few other things. lots of other things. anything stand out to you? >> jnj, a great interview. that guy, the defensive tocks are being thrown out. i'm looking at key bank as being cyclical pays. they are like the caterpillar and the deer. i know you know the ceo well and everybody wrote off copper and that is an animal. i don't know pays attention. natural gas breaking out here

and you see the jewellers connecting. that group is still a good buy. >> the whole quotient up big and pot should be back. that's up $110. deer is still on fire. tyson is not a company. they are like monoplies in the business. monsanto going much higher. the complex is say great place to be. especially with oil going up. we forgot about it. >> that's a good point. >> to transport too. he said something great. this is the only stimulus plan that works. i bumped into 10 people on the "today" show and not a single thinks it's a good idea. there is a grave perception of what's happening. i loved your interview. a 9% increase in miles per

gallon and at the same time putting people to work. isn't that what we wanted and the combination of solar and wind and unemployment? this is great. >> did you see by the way on that note the update in the "washington post" that jeff wrote about falling behind on green tech? i thought it was an interesting one. >> we are, but our utilities have yet to embrace these. if you have a windmill at your house, believe me, the power company spites you being attached to their power grid. >> that was one of the things he mentioned as you know. they are not involved in the policy. >> is it so bad to have a solar panel on every roof. is that wrong? i think it's right. and nuclear power. we are the only guys who know how to make the stuff and france is run by nuclear power. i want that in my back yard. >> you can go nuclear. down the line nuclear might have

repercussions we are not thinking about. solar shines. why not? >> it's fine. >> i am not a nuclear scientist. >> it worked out well. >> okay. thanks, jim. bye, jim. >> bye-bye. >> right here on cnbc, jim on mad mone. what happens when a sports team takes on a sponsor who is a competitor with one of the biggest money backers. a giant conflict of interest. we have one such conflict. >> and you use that word giant for a reason. a couple of months ago, they signed a deal with timex agreeing to sponsor the practice facility and getting the rights to put a tax on the practice jerseys. we are told that the star eli manning will have that on his jersey, but he is not expected to conduct interviews before or after practice wearing the jersey.

why? it turns out he gets paid a six-figure fee by citizen watch to endorse their brand. she not going out of his way to get the competitor. they are not expecting because it's in line to get signed by the jins to a $100 million deal or more. the nfl approved the sponsorships and the nba is set to do the same. they own the athletes's right to advertise during the games. if a high profile athlete wants to argue that his endorsement is digger than the teams, he might have a case. most do it like manning and not cause a stir and do what they can as to not compromise the deal. should be interesting. >> we will keep an eye on that and you have a fun story to do with me and jim. >> ultimate frisbee. see you tomorrow. >> breaking up is hard to do and

messy even for ceos.s. the companies can compete all out. who will be the winner? every sunday, lasagna at mom's was a family tradition. when she started forgetting things, i was hoping it was nothing. grandma! what a nice surprise! mom, it's sunday. that's when i knew i couldn't wait. mom's doctor said these were signs of alzheimer's, a type of dementia, and that prescription aricept could help.

he said it's the only treatment proven effective... for all stages of alzheimer's. studies showed aricept slows the progression... of alzheimer's symptoms. it improves cognition... and slows the decline of overall function. aricept is well tolerated but not for everyone. people at risk for stomach ulcers... or who take certain other medicines... should tell their doctors... because serious stomach problems... such as bleeding may get worse. some people may experience fainting. some people may have nausea, vomiting, diarrhea, bruising, or not sleep well. some people may have muscle cramps... or loss of appetite or may feel tired. in studies, these were usually mild and temporary. mom. talk to your doctor about aricept. don't wait. alzheimer's isn't waiting.

>> copper is not the only metal on the move. a combination of the metals move that we talked about and strong car sales. aluminum an important component of cars. google's ceo is stepping down. does his resignation mark the beginning of a war between apple and google? let's talk about it with jim. applied technology analyst. once again, the main story is that mr. schmidt is leaving the board of apple. was anybody expecting it? >> the surprise is not that he is gone, but it took as long as it did for this meeting of the minds, if you will. apple's board and people around eric schmidt. you have android, the mobile

operating system and the other systems for net books. the g 1, g 2 and the smart phones as far as competition for i phone. she set in these meetings and recused himself with 1 flikts of interest. you wonder why he shows up in the first place. >> it seems like it would be a conflict on everything. is safari conversation and more and more the os combinations. we have into a huge new battle with apple and google. apple was with microsoft and when you look at the business over the next 10 year, it will be google who will power a lot of the dumb boxes on the mobile front. >> an interesting point and eric schmidt wants to fight

microsoft. we have this bing phenomenon. >> all these companies are starting to overlap and here in the silicon valley it's nothing new. they served as collaborators and competitors, but this is a unique case and it also occurs with arthur levinson from genentech. you have al gore who is a member of ale's board who serves as advisor to schmidt. >> what are does he do? >> also as a way to eliminate the conflict of interest. google try to be a microsoft and apple as far as digital media is there. >> war what does al gore do? i was joking, but what does he advise eric schmidt on?

>> i'm sorry. i was going to say quickly that al gore advices schmidt on environmental issues and service as the compensation chairman with apple. he is intimately involved in the highest oechelons. >> i know he invented the internet and everything. >> if you look at apple over last year, they made strides environmental in terms of energy consumption and what they electric like when they biodegrade. al gore has shown input there. >> what would you do with any of these names right now? would you go in in the case of a tech rally or not? >> what this speaks to is the fact that both apple and google are going to be defining what the market and other markets look like over the next to 10 years.s. for a long-term player, these are still as good of time

names. >> all right. thank you very much. appreciate both of you taking the time. and after this break, it's going to be a long, hot summer for health care. at least what's left of those dog days of august. "street signs" will be right back. that, plus the crustacean crash of 2009. we need to send an expe. a walking, talking... know-it-all... expert. a guru. how about wu? wu will do. where to? first stop... peru. vincent wu to katmandu. what's next? timbuktu. area code 212. so, timbuktu, katmandu, peru, and 212. all by half past 2:00. not a problem. [ female announcer ] need an expert? push a button. that's the human network effect. learn more at cisco.com/newways. phew!

health care has taken a back seat in washington. what's the difference between $2 trillion and $1 billion? well, people, those clunkers. the battle for health reform continues, and the price tag and the stakes are high. our chief washington correspondent john harwood has the new details. john? >> reporter: erin, the fight is really moving back home to the states and districts of those lawmakers. we've all been wondering what that's going to be like. and we had a little foretaste over the weekend from senator arlen specter of pennsylvania, who had a town hall meeting with kathleen sibelius, the hhs secretary. if what they experience is any expectation, it's going to be hot. >> medicaid is broke. medicare is broke. social security is broke.

and you want us to believe that a government that can't even run a cash for clunkers program is going to run 1/7 of our u.s. economy? no, sir. no. >> ouch. now, one of the things that's goosing along that public anger is the lobbying expenditures by affected industries. $263 million from the health industry sector in the first six months of the year. another $222 million from finance, insurance, and real estate. that includes health insurance companies. and so we've got a real battle on our hands, erin. and republicans and democrats are going to be having dueling message wars over the summer.. we'll see how it comes out. democrats think the reform community is more mobilized and more ready for the onslaught this time. but that's yet to be seen. >> john harwood, thank you very much. and he'll continue to update us on that all-important story. coming up, the -- andrea mantilla says lobsta indicator.

there we go, andrea. the crustacean conundrum. we'll see what our bottom-feeding friends can tell us about the economy. it's the chevy open house. and now, with the cash for clunkers program, a great deal gets even better. let us recycle your older vehicle, and you could qualify for an additional $3500 or $4500 cash back... on top of all other offers.. on a new, more fuel efficient chevy. your chevy dealer has more eligible models to choose from - more than ford, toyota, or honda. so save gas... and money... now during the chevy open house. go to chevy.com for details.

has the fastest hands boxing has ever seen. so i've come to this ring to see who's faster... on the internet. i'll be using the 3g at&t laptopconnect card. he won't. so i can browse the web faster, email business plans faster.

all on the go. i'm bill kurtis and i'm faster than floyd mayweather. (announcer) switch to the nation's fastest 3g network and get the at&t laptopconnect card for free. call it the crustacean crash of 2009. wholesale lobster prices going for $2.25 a pound.

that's a 35% drop, which compares to only a 10% to 15% drop for other wholesale seafood prices. one lobsterman said that's cheaper than hot dogs right now. lobster prices are well off their peak of 10 bucks a pound back in the winter of 2006. average prices in recent years have hovered around $4.50 a pound. maine lobstermen say it's been a perfect storm, bad economy, high fuel prices and the rising price of bait. the question is what is a healthier type of food given where it comes from, a hot dog or a lobster? that's a separate question. e-mail us. in the meantime we asked america if you could catch up with wind, and our viewers, by the way, mostly very patriotic here. mike wrote, "we can catch up on solar, wind, but here's the big but. we will not. we do not have the will to fund the research and give the appropriate tax incentives." bob in delaware said, "i believe we can change overall situations with energy as alternative energy positions by providing huge stimulus for innovators, tax-exempting them for at least 5 to 10 years. that's all it takes." maybe when pigs fly.

and fritz in ohio said, "i am not concerned at all about china earning a number one position in wind energy. this energy form is so inefficient the only way it works is under heavy government subsidies." and then there's all those birds. i just threw that part in. but it is interesting to think about the entire debate that's going on right now on wind and solar and what makes sense and what we really should be subsidizing right now. maybe china is making the bigger mistake. part of a broader conversation. we'll continue to have it right here on "street signs." we're going to hand it off to "the closing bell" with markets right near their high of the session. it's time now for "the closing bell" with maria. >> announcer: this is cnbc.com "news now." bank of america settled s.e.c. charges of making false and misleading statements regarding the payment of bonuses related to its merrill lynch acquisition. the journal reports that president obama's acting cyber czar, melissa hathaway, has quit to return to the private sector. and ford's july u.s. sales rose 2.3%. chrysler posted a 9% drop. while gm salesell more than

19%. all say the cash for clunkers program provided a significant boost. that's cnbc.com "news now." i'm julia boorstin. stocks kick off the week with a nice rally. the s&p 500 passing the 1,000 mark. nasdaq crossing 2,000 as we enter the final and most important hour of the trading day right now. welcome to "the closing bell," everybody. i'm bob pisani at the new york stock exchange. hi, melissa. >> hey, bob. i'm melissa francis in for maria bartiromo at cnbc global headquarters. in the markets right now we are seeing strength here in the final hour. the s&p 500 crossing over the 1,000 mark for the first time since november. oil and metal stocks amog mong the movers today. take a look at the major indices today, really having a bullish day out there. 9274 is the last level on the dow with more than 1%. triple digits on the day, 102 points. the nasdaq right now is also charging higher. it's up about 24 points on the day. and the s&p 500, here comes the nasdaq, it's up 24 points, like we said..

about 1.2%. but over 2,000. in the s&p 500 over 1,000 right now. bob, i imagine pretty good mood on the floor today. >> yeah, this is nts one of the things where you get these fluff rallies in the middle of the day and everybody's scratching their head. there are better signs today on the economic front can somewhat better commentary from the autos and financials. let's quickly run through what's going on because there's a number of components here that are moving the markets forward here. first look over in europe and china. we had better news out of china on the manufacturing pmi. that's helping. we've got shanghai at new high. europe's all at new highs. australia at new highs. so you've got breakouts. then we had the ism here in the united states stronger than expected. this is that survey of purchasing managers, one of the first components of the july numbers that came out. new orders rising not just in the u.s. but in other parts of the world. and the ism said that this koernds, this number for july corresponded to a 2.4% increase in real gdp. that's a good number. if we can keep that kind of growth up, that's a big if. financials and now we've got the sectors up on