cyclical groups, all yut performed the rest of the market. what did i mean about the weakness of financials in the middle of the day melissa and i were talking about it. goldman was the first one we noticed that, oh, about 1:30, 2:00 people said goldman's outperformed, they're selling goldman to maybe put some money into other financial stocks. but this has turned into a sort of profit-taking day for some of the big financials. you look at bank of america, for example. it too started weakening oh, about 2:00, a little after 2:00. and there you go, bank of america ended the day in negative territory. i'm not going to show you all the financial charts. but citigroup, which also 4 h. a mons strous week, also had a very similar chart toward the end of the day. how about the big movers here? stick with the transports because they never really saw the big -- or even a correction in the middle of the day. they stayed strong throughout the day. csx 2% to 8% gains here. transports were the major sector leader this week, whether you were looking at some of the railroads or the truckers like ryder. continental reports did have a secondary. it was weak early on but ended quite strong. for the week another good week

here. dow jones industrial average still settling out but up a little more than 2%. 2.3% by my back of the envelope. s&p. nasdaq up 1.1. a lot of strength in those small caps. you see the russell 2000 doing very well. >> in the transports. bob pisani, thank you so much. a better than expected employment report giving some hope the economy and the labor market may be turning around. cnbc's hampton pearson is in washington with the details. hampton. >> reporter: hi, melissa. the july jobs report was good news for wall street, main street, and especially here at the white house. >> today we're pointed in the right direction. we're losing jobs at less than half the rate we were when i took office. we pulled the financial system back from the brink and a rising market is restoring value to those 401(k)s that are the foundation of a secure retirement. >> reporter: employers shed just 247,000 jobs last month, the fewest in a year.

the unemployment rate dropped to 9.4%, the first decline in 15 months. but long-term unemployment increased by 584,000, and 5 million americans have now been out of work for six months or longer. 6.7 million jobs have been lost since the recession began. key factors in the july turnaround, employers stopped laying off workers. those with jobs are working more hours. and wages even nudged upwards. >> we have a lot further to go. as far as i'm concerned, we will not have a true recovery as long as we're losing jobs, and we won't rest until every american that is looking for work can find a job. >> the economy has lost jobs for 19 straight months. and even the most optimistic economists say positive job growth is still several months away. melissa? >> all right, hampton pearson, thanks so much. for more on today's market action i am joined now by jeff klein, top chief market strategist at lpl financial. we also have bill webb, deputy

cio at gluskin schef. and cnbc's rick santelli with us as well. jeff, let me start with you. why do you think we gave back at the close here does it mean anything or just i little profit-taking over the weekend? >> i think the muted response to much better than expected data is important. this is the best non-sfarm payroll we've seen since back in august, prelehman brothers failure. but look what's priced in, high yield bond spreads, corporate bond spreads are also back to prelehman levels. today's data just confirms what we already know. and once the market's fully priced in a recovery there's no more wall of worry for the market to climb. we're not there yet but we're getting close. >> i don't know, bill, if i buy it was a muted response. look where we've come from from march. >> it's been a very impressive, very impressive bounce in the markets. our concern here is looking at the data today was certainly impressive on the surface but if you scratch below the surface it looks to us as though a big part of this -- big part of the improvement today was simply due

to an auto inventory adjustment and benefits from the cash for clunkers program as well as a number of federal census workers that were rehired during the month. so we're concerned about the sustainability of this type of number, and we are still shedding jobs. so we are somewhat concerned and we think the equity market is already certainly pricing in a v-shaped recovery for next year. my colleague david rosenberg and claudia lockety did this some work where they believe the equity market in the united states is already pricing in 4 1/4% real gdp growth next year, which we think might be quite ambitious. there's better value in other asset classes like investment grade corporate bonds, for example. >> these guys are pretty pessimistic but the dollar rallied on good nude news. that seems to tell a different story. >> it does. and again, whether it's a data report or when we hit zero. specifically, whether the dollar is moving into a new trading strategy, what we're talking about, viewers, is normally, like treasuries, there is a safe

haven bet that's gone on in the dollar. good news? well, you don't need the safe haven. so usually, the dollar goes lower. the fact that it was very strong and strengthened after the data this morning may mean, hey, is it going to be back to the days where good news was good news for stocks and the stock in the current referred to as the currency? i don't know if we're there yet, melissa, but it is interesting to watch. we don't want to downplay. the dollar's been going down almost straight down for weeks. outside of yesterday and today. it could be a breather, but it could be something more. >> jeff-s your bottom line you think an economic recovery is also priced in? and if so how do you plate market from here on out? >> we've gone from pricing in the great depression to a typical recession to a recovery in five months. i still think we've got some room to go. i still 24i this market's going to edge higher over the course of the rest of the year, maybe with some volatility, but you've got to be focused on the end game, which is inflation and the exit strategy for the fed. that's still a risk out there. so you have to be tactical. but right now i think you can be

buying technology, consumer discretionary, materials and industrials. these are the cyclical sectors. they're going to continue to lead the market higher in the near term until the threat of inflation and the cost to all this recovery really begins to bear on the market. >> yeah, nobody's worried about that yet. bill, what do you think? how do you play this? >> i concur with jeff on a number of things. we're -- longer term we're quite keen on resources and the cyclical recovery. 9 cyclical strength that you're seeing in the emerging market economies and the brics. and being based up here in canada, 50% of our equity market is based on -- is comprised of resources, oil and gas and materials stock. they're sectors we're quite bullish on. we've had a real strong run here so, we may be due for a little bit of a breather and perhaps as the dollar has a best a bounce but longer term we quite like the story and with regard to technology you're seeing balance sheets in that group that are the strongest they've been in years. it's a very safe place to be. we're much less cautious when it comes to the u.s. consumer. we're not concerned about inflation. we think the u.s. consumer's in

a period of retrenchment and increased savings rate for a long time to come and that employment will be very, very slow in recovering. so we're avoiding consumer discretionary stocks except torn on a very selective basis. >> kind of an opposite theory at the end. thanks, guys. we appreciate your help. here are some of the other stories we're following at the closing bell ticker. electric utility aea reporting a 66% drop in its second quarter profit to $303 million. dea 15% decline in revenue. the company also raising its guidance, on lower tax rate and favorable commodity movements. aes shares trading up by more than 5 1/2%. "new york times" says the saim "boston globe" you a possibility but not a certainty. it has hired goldman sachs to explore the sale of the unit that runs the globe. "new york times" shares trading up a penny essentially flat on

the session. banana and fresh produce producer chiquita brands reporting a 46% jump to $89 million because of tighter cost controls. the company also says its full-year earnings will be significantly improved due to higher operating margins and stronger banana and salad sales. chiquita brand shares trading up on the day by about 16%. all right. still to come on "the closing bell," we'll discuss whether the better than expected employment report signals the beginning of the end of the recession. we're not quite out of the woods yet. plus, lawmakers proposing to spend half a billion dollars to buy jets for growing travel demand. come on. but is that an effective use of taxpayer dollars or major hypocrisy after congress blasted auto executives for flying on corporate jets while their companies were in financial turmoil? sound familiar? some answers coming up. at 155 miles per hour, andy roddick

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all right. we've been telling you all about the better-than-expected july employment report. but are small businesses, which are the engine of the economy, starting to show signs of

improvement? cnbc's jane wells is in sun valley, california with that story. jane? >> hi, melissa. there is good news and bad news in small businesses. they're cutting fewer jobs. that's the good news. the bad news, they're still cutting. here at sechel embroidery.com half the staff has been let go this year. and owner nouri morales is not taking a salary anymore. >> last month has been really great, and i thought recovery's around the corner. and this month's not so great, so i'm not thinking recovery's around the corner. no. i'm not seeing that. >> now, the contracting economy's happening as tens of thousands of veterans are coming back into the workforce and many of them want to start small businesses. five top universities, including ucla, are providing disabled veterans with an entrepreneurship boot camp to help them develop business plans. and these vetrepreneur

experiences may give them a leg up on success. >> they can understand what needs to be done now, what needs to be done later, how i can delegate. they understand how to work and build teams. >> one example, an air force vet who started red energy pr in colorado springs learning at the boot cal p about the resources available to her. >> you know, when people join the military, they do it not because they feel like they want something in return. but when you have a program like this and they do give you something in return, it's just so satisfying. >> and the program is free to the disable vets. now, the national federation of independent businesses, the best date to start a small business is the day before the recession ends. are we there yet? who knows? nury morales, though, here says she did get an order for 40 jackets here, melissa, after we had her story on the air. >> i like that, the best day to

start a business is the day before the recession ends. very clever. let's head up north to silicon valley with a look at the changing jobs picture in that region. cnbc's silicon valley bureau chief jim goldman is in fremont, california with some details. >> good evening to you. it's no secret that the solar energy business is absolutely booming. and that's a key part to the silicon valley's recovery. indeed really the nation's. companies like solyndra, the company i'm standing in front of today, a solar panel manufacturer, was one of the first companies to receive federal stimulus money and is using that funding to expand this company dramatically and could add a total of 3,000 new jobs around here. but hiring qualified workers to fill those positions, that is the best and next big hurdle for these guys and why stimulus money for retraining programs for the solar industry like this one here in sflis is so important. separately, california has earmarked $3 billion for solar investment with the promise of

40,000 new jobs to come. 75% of the nation's solar installs take place in this state. 4,000 installers. they'll be needed by 2015. >> everything's going green now. that's where jobs are going and that's what i bloov i need to get trained in. >> solar panels is really booming in the next ten years. >> you can get into the industry and it will be a profession that you can have for a long time like a career. >> now, all this comes none too soon. the valley's top tech firms slashing over 50,000 jobs just this past year, with many of those jobs, well, essentially gone for good at these major companies, even if the economy does turn around since tech firms now realize they indeed can do a lot more with far less. and that's a real problem for companies up and down the silicon valley corridor and why

these retraining programs are getting so much attention today. >> president obama says the u.s. may be seeing the beginning of the end of the recession, but not everyone is convinced the economy's fundamental flaws have been fixed. even as more stimulus money is set to flood the system. that includes chris thornburgh, president at beacon economics. while tim cease, partner at the personal wealth advisers group at eisner believes otherwise. thank you for joining us. tim, let me start with you. there seems to be a confluence of data. you look at the jobs, you look at the housing data, you look at orders, things are still terrible out there but it seems like there has been a fundamental shift. yes or no? >> there has been a fundamental shift really starting in may. may through june, july. if you look at many independent sources it, this could be the national association of home builders, it could be the federal labor board, many different sources, also for-profit sources. all of them showing now in a back look improvement since may both in the decline of the

unemployment report. it's half of what it was in the first quarter. now down to -- not good. let's not mistake that. but certainly better than we we were running in february, march, and april at 650,000 a month. secondly we're seeing price value of homes increasing for the first time. the median price avenue a new home in this country has now gone up close to 8% in june compared to may. the second factor is the foreclosure rate. those are actually in certain parts of the united states coming down. there are still the states of arizona, nevada, california that are getting hit very hard. but those two. and then the number of homes that don't go to sale because of credit issues, that's now at 10% of those sales that don't actually occur because a buyer doesn't have adequate credit or can't secure financing. so in the main i think it's the unemployment rate. i think the unemployment rate as it continues to go down, you're going to see housing gradually pick up further. it's still not good.

i don't want to mistake the fact. it's still not a great environment. >> i mean, chris, you make the argument that i hear all the time. the fundamental problems haven't gotten better. so how could things possibly get better? >> yeah. look, government policy today has put a tourniquet on the wound, but we have a long recovery tum to go. i mean, take a couple things. consumers and the savings rate. savings right now at 6 1/2%. but half of that is due to the tax cuts that started at the beginning of the year. tax cuts that are going to go away next year. what's going to happen then? and while foreclosures are down delinquencies are at an all-time high. right now in the u.s. 60-plus-day delinquencies are running 6% to 6 1/2%. there's literally millions more foreclosure that's have to be dealt with. sure, there's a nascent recovery in the market but is there enough pent-up demand to absorb 1 million foreclose the units? the banks have at least a trillion dollars in losses they

have to write off off. right now they can paper over bays of the accounting rules bau it's clear we have a lot more work to do before this economy gets up and running. >> but chris, certainly you would agree that where this country was in march and april and into may it just does not bear out presently that those circumstances exist today -- >> oh, i'm not arguing that. no, no. i agree. we're coming in for a bottom. the question is how long we're going to sit on this bottom. and i'm hearing some voices from wall street that are looking for a quick recovery by the end of the year, and i think we've got a year sitting here on the bottom before you see any siphoned substantial growth. >> well, but on the other hand a company like dr horton, one of the nation's largest home bl builders-s forecasting an 18% increase in bottom line, which equates to a stock value increase. again-f we look at all the dale data coming in i agree it's going to be a long recovery but do i think the word recovery is now what we're seeing. >> given your kind of -- i mean, basically differing but guys

agree on some points, what are you each telling people to do? chris, what would you tell people to do? >> well, for example, it depends on what you're working at. how about the stock market? >> i want to make money. that's all i care about. tell me how to make money. >> well, i it will people to sit on the sidelines right now because there's going to be lots of volatility, lots of up and down. you have to pick your bets very, very carefully. for example, if you're going to look for a hour, wait, give it a year, year and a half. there's no rush. keep your powder dry. >> tim, what do you think? >> i think everything's local. i think now's a great time to be looking for a home, depending upon where your marketplace is in the country. i think if you live in nevada or arizona or california and new york for that matter there are some great bargains that are there now. and i am not knowledgeable enough to predict when that will flip. as far as investing goes-w our sclients if you're a 4rr78 investor, if you're saving money for a need that's five or more

years out, you should be back in the market now. we've just come off a low on march 7 '09 which was unprecedented. >> but did you miss it if you're sit on the sidelines? that's what i'm concerned about. look at then orms move we've had since march. i'm worried people are sitting on the sidelines and watching the show and figuring out the market has rallied have missed it. >> melissa, that's okay. those could have been the same persons that didn't get in at 14,000. you can't look at this through your rearview mirror. again, to answer your question, to make money now if you're a long-term investor and you're looking to fund college, retirement it's a good time to be back in the market for a long-term investor. >> you've got to be really cautious. >> of course. >> this could be a bull market rally. we could go back down again. there's spreads on a lot of date are way too low given the market race k. i have to disagree. a lot of risk still out there. >> we've got to leave it there, guys. thank you sore joining us. media companies say ad sales are stabilizing but they also

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ad markets seem to be stabilizing. they're not sure how or how fast the recovery will happen but it seems the worst is over. les moonves saying in the cbs call yesterday ad sales this quarter have been truly phenomenal and they're pleasantly surprised. ? one is it's pretty clear now that the first quarter was the bottom for advertising trends in the vast majority of platforms local and national. second, q2 numbers came in a little better than expected and the outlook for 3q is for slow but steady continued improvement. >> jeff bewkes said time warner's advertising has been more stable but pointed to the industrywide trade advertisers waiting buying ads closer to when they air clouding visibility for the media giants. this lack of visibility and hope the economy will recover is one

reason the networks are holding back more inventory for last-minute or scattered ad sales. >> if it's this tape of economy and it's sluggish and there's not that much demand during the up front, they can kind of create demand by holding inventory back and then counting on a stronger marketplace going forward as the season progresses. >> ad sales volume and pricing hasn't suffered as much in cable, which has been a bright spot for the media giants, and there's kocconfidence that consumers will keep paying their satellite and cable tv subscriptions regardless of the economy. back to you. >> thanks so much, julia. auto companies got blasted when their executives flew to washington on private planes looking for taxpayer dollars. so should lawmakers get the same kind of air rage now that they are proposing spending half a billion dollars of your taxpayer money, by the way, on jets for their own personal comfortable fast travel. some answers when we come back. >> here's a look at some of today's winners and losers. 0

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taking a look at today's business headlines, the federal reserve reports june consumer credit fell 4.9% or $10.3 billion to a total of 2.5 trillion. that was more than double the drop economists were expecting and the fifth consecutive monthly dliern. a lot of people watching that number today. oil not participating in today's market rally. crude falling $1.01 or nearly 1 1/2% to $70.93 a barrel. in large part because of the stronger dollar. and president obama signing a cash for clungers extensikers eo law. the program was so popular it needed more funding to run into labor day. of course that's assuming it doesn't run out of money again before that date. just a few months ago you'll remember congress criticized bailout-seeking executives for traveling to capitol hearings by

corporate jet, viewed as an extravagance in a time of economic distress. now congress wants to spend $50-550 million on eight new jets of their own, leaving many to wonder if this is hypocrisy at work. we get the thoughts of greg valliere, chief policy strategist with soleil securities. he's a cnbc securities. we also have matt miller at the center for american progress. guys, i've got to tell you, this story really chaps my hide. i'm sorry, i got so excited about this i didn't see matt is also the author of "the tirny of debt ideas: letting goes of ways town leash the old prosperity." sorry about that. as i said, they force people like jamie dimon to get on the train, snand security lines, whatever they needed to do. jamie dimon out there ostensibly sabing the economy. these guys want to fly on gulfstreams to go spend my taxpayer dollars more quickly.

greg wlarks do y greg, what do you think? >> you have to ask the question what were they thinking? are these people so tone deaf? when we talk about tone-deaf auto officials or big bankers -- >> and they were so smug. >> what in the world were they thinking? don't they realize that perceptions matter? >> matt, what do you think? >> i agree when it comes to tone deaf. i actually think congress was right to hold the ceos' feet to the fire, folks who were seeking bailouts, who make millions of dollars a year flying to washington on corporate jets to ask for their bailout was wrong. but i think it's crazy. i agree with greg. the idea, especially at a time when one of the biggest worries is that there's too much spending coming out of washington and obama and those who are trying to get health care reform passed are trying to fight that perception, the idea that congress would actually ask for more than what the pentagon said was needed to meet their air travel needs seems crazy. >> greg -- >> let me -- >> go ahead. >> let me add another point, melissa. there's such pervasive cynicism

in the country now, much of it deserved toward congress, which has a job approval rating of like 8%. but there's such cynicism. nobody believes anything anymore because of these stories. people say oh, barack obama wasn't born in the u.s. or this health reform is going to lead to euthanasia. there's crazy stuff. but i think the cynicism starts in part with stories like these jets that congress is trying to buy for themselves. >> do either of you guys think anything's going to happen as a result of the bad press? i mean, it's been a little muted so far. i imagine it's going to pick up steam. i mean, it's so completely ridiculous. do you think anything's going to happen? >> i think there's a good chance that they'll decide to scale it back to what the pentagon requested. because remember, the pentagon said here's what we need in terms of replenishing old planes to handle the foreign travel or other secure travel you need to do. remember, congressmen generally fly commercial most of the time when they go to and from their zriblths. it's really about these special trips that they take for

government purposes. and it's very hard to make an argument that you should be fancier jets than what the pentagon has said is needed to actually take you somewhere. >> let's be the devil's advocate for a second. can we make the argument that they need to fly privately, that they need these planes? is there a way to make that argument? >> i think they could fly business class. they don't have to fly coach if they're going orrn a 14-hour flight to europe. but no, it's a real stretch. if the rest of the country is stretching and making sacrifices, they look frivolous by doing something like that th. >> matt, is there any way to make a argument? with the auto executives it was really difficult because number one obviously they're the head of car companies. so the fact that they're flying in jets is kind of funny. and also the fact the companies have been in bankruptcy for so long. would the financial executives -- and actually with a lot of executives their dollar per hour, their time is very valuable in terms of what they could be doing, how many meetings they could be in, how

productive they are. it kind of makes sense they wouldn't be sitting in security, effect squeeze in for more on a given day. can you make the same argument for politician fz you believe the initial argument? >> remember, for most of their travel to and from districts that's not what this is for. they fly commercial for that. when they do the overseas trips i think there's an argument for them to use the military planes they've used or some newer version of it if the pentagon says they need a newer one. the other case for it which i've never heard which i've heard congressmen on both sides tell me is that in the old days before things became so partisan these overseas fact finding trips used to be when real friendships got forged across the aisle because you'd have people spending 15 hours in a plane together because you were going off to some hot spot or obscure destination where you were going to be doing work together and you got to know each other over, you know, a long flight and a bunch of meals. and maybe there is a small case for that if you want to play devil's advocate on this. >> greg, is it really true that it's only used for international

trips? what about all those stories i've seen on all the blogs about nancy pelosi and her whole crew needing a huge plane so they can all fly together back and forth to the west coast? is that untrue? >> yeah, there's some to east coast but i think matt's rightish it's mostly international. but again, not to be redundant, but perceptions really do matter here, and it just makes them look as if they have one set of rules and the rest of us have another is the of rules. it really sets a horrible example. >> matt, what's your bottom line here? >> i think they should scale back the request to what the pentagon said they did and not less this bleed into things like the health care debate with the perception of washington run amok, an issue, and a perception that has to be countered. >> greg, isn't that the real problem, that it's not about the jet, it's not about the money, it's about the fact that it just undermines their credibility everywhere else? >> that's the word, credibility. you and matt hit on it. and i think that credibility gets eroded on everything when you see crazy stories like this. >> okay, guys. thanks so much for joining me. i appreciate it. have a terrific weekend.

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after failing to meet president obama's deadline on health care reform, the senate is headed for its annual august rece recess. and while the debate will continue on whether health insurance matters or not, my next guest says that is crucial and it's one part -- it's crucial to one particular group of people, i should say, those diagnosed with cancer. joining me now to discuss this is ambassador nancy brinker, founder of the susan g. komen for the cure foundation. thank you so much for joining us today. we really appreciate it. why is access to health insurance and health care so important when it comes to breast cancer? >> well, because we've made so many gains in the lab and now we've got to translate it into treatment. so when you're treating people, when they have caps on their insurance policy or when they, you know, lose their jobs and/or driven into poverty, they can't keep their therapy up and therefore it just puts us that much farther behind the ball and we've got to move this forward. we've made amazing gains in

cancer treatment, and we have to make sure people have access to it. screening, diagnostics, therapy, and not to interrupt the therapy once it starts because we foe in most cases it works. >> given that perspective, do you feel like this plan is the right one? because it's not necessarily a guarantee. there's been criticism along the way that maybe you wouldn't have as much access to experimental or cutting edge care. i mean, how do you feel about this particular plan? >> well, i'm not sure that we really have a particular plan yet. i think there's so much debate going on and i think it will really be a while until we really know how it headaches out but i think there's going to be a tremendous amount of advocacy on the part of cancer groups. certainly on our organization because we know sort of what a baseline proper standards of care are. we know what that is in most cases. and we just need to make sure people have access to it and that in fact they don't have terrible issues with their insurance companies and other settings. it's really dangerous to interrupt people's therapy. >> what's the most important thing as you're looking at all these different plans? what's the number one thing you're looking at?

is it maybe more people being covered? is it -- i mean, what's most important? >> i think, yes, i think more people have to be covered. and i think that more people have to know risk factors. i think we've got to cut out a lot of waste in the system. we've got to cut out bad plaintiff lawsuits. we've got to cut out fraud and abuse. >> tort reform. are you upset that hasn't been part of the debate so far? >> yes. and i think also more electronic medical records, all that. before you add to your closet you clean the closet out. but at the same time we have to fix the system. and by the way, a lot of the system, it isn't just about spending money, it's about using common sense solutions to fix solutions to the system so it works. such as lining up incentives properly so physicians can exercise more judgment about what therapies are needed. the patient having more communication with the physician and being a decision maker. >> lining up incentives properly, what do you mean by that? >> oftentimes people are communicating with the health insurance company or in this case the government. and patients are becoming more

educated and they ought to be able to communicate with their physicians. there's a standard of care and treatment that is beneficial. or if there's a clinical trial that a patient should be on. and we believe very strongly in clinical trials. we need to fix it so that people can access them and be part of them. >> so are you worried about adding more bureaucracy to the system if the government gets involved or is it worth it because we might end up with more people covered -- >> i think that in a way we don't know yet. it's not quite any of those things yet. i think what it really is is doing the sensible, common sense things. clean up the waste, clean up the problems. six the system and decide how many resources you need. make the whole process easier. make the delivery of health care system more sensible and make sense. >> that would be nice. it's difficult to do, though. >> of course it's difficult to do. but the fact is we have to do it. there comes a time when you have to clean out your closet -- >> like what? what's the first thing you eliminate? >> the first thing you eliminate is fraud and abuse. you eliminate a lot of excess cost that's in the system that

probably shouldn't be there. you make things easier. you use high-tech strategies in offices and in records and recordkeeping. but at the same time you make it easier for people to access care and you make care standardized in a way so that it works so, the system works. a lot of this is plans, health plans that don't talk to each other, physicians who don't talk to each other, and patients who don't get to talk to their physicians. >> yeah. you're receiving the presidential medal of freedom from the president at the white house next wednesday. congratulations. >> thank you. >> that's quite an honor. >> thank you. >> you'll have a chance to say something to the president, i would bet. you must be thinking about that. what do you want to say to him? >> i really do want to thank this president for highlighting cancer, for the cause of cancer. you know, we're the -- susan g. komen is the leader in the breast cancer movement in the united states and moving much more globally. and as we lead so, does the united states go. and i want to thank the president for his emphasis on this disease. it's the leading killer of

people, larger than malaria, tb, and aids. and we've got to face it in this world. it's not even part of the millennium development goals at the u.n. so how can other countries deal with it? but people look to us in america to lead way. that's why we're very interested in seeing that whatever reform happens it results in better care, better diagnosis, and better results for patients. >> speaking of the reward, you were named the first ever ambassador for cancer control to the world health organization. what does that mean? >> well, it means it's u.n. centered. w.h.o. is part of the u.n. and basically, i'm going to be advocating those things. stronger cancer registries. tlaemt treatment. pail yative care. in so many countries we don't even know, we do a short count of how much cancer actually exists. people don't discuss it or talk about it. we have to make governments aware that it's a problem, that it's a growing large disease, the largest possibly in the world. and world aging. the population's aging. we've got to do something about it. >> how is it different around the world than it is here? how is the challenge different?

>> in many countries in the world, low resource country, they don't even say the word cancer. they say cancer is a rich man's disease because if people live old enough to have it they're old and rich. not covered under insurance plans. people don't know what to do about it and we need to educate people around the world. there are low cost strategies to deal with early cancers. >> what's your message as you go out around the country right now? >> awareness. we have to be aware of the number, the amount, the growth of cancer, and we have to energize people, governments, advocate, companies, ngos to deal with this disease in cost effective and in strategic ways. >> ambassador nancy brinker, thank you so much for joining us today, and congratulations on your post and the award. that's really exciting. >> thank you. thanks, melissa. appreciate it. >> financials the big star on wall street. again, the sector up for the fourth straight week. up next matt nesto breaks down the other weekly big winners and losers. we're coming right back with

"the closing bell."

four weeks and counting as stocks continue to build on the latest winning streak. cnbc's matt nesto looks at who got us here as well as whose invitation got lost in the mail. >> you like that? >> i do. >> i'm a bit of a nut job, but this is 22 weeks and counting, up 16 of the 22 weeks. i don't have any big weekly superlatives or four-week superlatives, because this is sous of middling performance, i'd like to play on the next level down, the industry level. interestingly, if you look at the financial index, 77 of 79 members managed to post a positive week, only intercontinental exchange and e*trade couldn't done it done. the real strait industry up 16%,

all four industries in the financial area were higher. that's real estate, banks, diversified financials and insureds. if you look at the big gainers on the week in terms of percentages, of course ai giismt with 100% move. kodak with a 44% move. interestingly, all these are earnings stories except kodak. what's going on there? we'll have to keep an eye on that one. mbia is the only stock that can say we are positive. i don't know how, but it is. on the wipeout side, check it out -- metro pcs down 26%, penn power and light. dean foods, and e*trade is famous for another thing. it's the lowest priced stock, at 1.38 a share, the 15th smallest, which surprised me. lastly some stealth movers that

aren't necessarily in the s&p 500. brunswick another big push forward. louisiana-pacific we saw a lot of the commodities and paper stocks doing very very well. i did a story on domtar, a paper company out of canada. in the nasdaq 100, foster wheel ir, and the loser goes to brinker. no relation, i believe, to our previous guest. >> all right. matt, thanks so much. now, let's head over to the nasdaq side, where melissa lee has a preview of what's coming up on "fast money." >> certainly a nice rally on our hands. we'll hit the charges. a little chartology action. also one half of the kay schiler index, robert schiler means a recovery to come. all that and much more, up

ahead. >> thanks so much. we'll be back in a second with a little bit more. see you in a sec. right here on "the closing bell." imagine... one scooter or power chair that could improve your mobility and your life. one medicare benefit that, with private insurance, may entitle you to pay little to nothing to own it. one company that can make it all happen...

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all right -- the markets

might be hot and oil's been on a run, but the real money -- are you ready? -- it's in taxis. the average rate for a corporate taxi medallion, this is the license that is required for all of new york's yellow cabs to be on the road. are you ready? the record now stands at $766,000. i was telling my dad about this last week. i was way off. i was guessing about one-seventh of that. it's up 28% from the start of the year and an incredible 126% from 2004. the corporate medallion is kind of like real estate, and can rent them out to drivers about $800 a week. the record demand has pushed the value through the roof. average precious for the license is 15% per year every year over the past 70 years. these things are really valuable. they hoard them in the city. pretty cool. before we go, a quick tour on the markets, the day on wall street, bulls large and in

charge. remember on the dow we had been up as much as 150 points, gave back a bit of that, still up triple digits on the day, financials leading the way, though bachk of america and others giving back as people took profits. still up about 1.25% on the dow, 9370. the nasdaq higher on the day as well, about 1.3%. sang thing for the s&p. "fast money" is up next. i'm melissa francis in for maria. watch me weekdays at 11:00 a.m. on "the call." thanks for watching. have a great night. u.s. attorney says bernie madoff's number two may leave his and be indicted by grand jury, possibly setting the stage. freddie mac ended the fiscal second quarter without asking for fiscal help. and ex-employees accuse hewlett-packard for failing to pay sales commissions due to a

software problem. i'm julia boorstin. "fast money" with melissa lee starts now. stocks to a new high. cash out or keep riting the bull? welcome to "fast money." i'm melissa lee. these are your traders. we have the market covered from all angles tonight. robert schiller tells you if the recession is over. our favorite chart expert tell us how long this chart will go. first let's get to the word on the street. certainly nice participation, pretty much across the board. steve, you're on the floor. what were you feeling in terms of the flows? >> we've been saying on this desk the most important date was today for the jobs data. >> we were? >> we were. >> i don't know if you were, but -- >> i apologize. tim was out getting a slurpee that day. >> sorry.

>> i appreciate that. >> you want a hand there? >> appreciate that. >> feels good. >> coming into this, people that played it long, attaboy. the mutual funds jumped on board. once we popped through 1,000, the sky's the limit. >> i thought this reaction was very curious. we had a whisper number yesterday, we came in at 247. you would have thought that would have been baked in. >> i think people are all over the place. i think as steve points out, the hedge funds played this too cute. people saw the resistance in s&ps, but i think it was the long-only guys that had fun today, and i think this number surprised people. >> if you look inside the jobs report, the critical component was the improvement in manufacturing. you had the ism on monday come n.