$15, there's been a subsequent drop in the s&p 500. >> forewarned is forearmed, right? >> exactly. the american gymnasts are coming here for the "closing bell" and that should be exciting and that will do it for "power lunch." >> "street signs" begin right now. welcome to "street signs." some say you shouldn't touch this with a 10 foot pole. we think it might be the right place for your money. we talk to the american cities with the lowest and highest unemployment rates on the real economy. can money buy safety? the top selling luxury cars are fought a new crash test and the results are not looking good. and a melt in your mouth milestone that has chock-a-holics celebrating including myself.

m modest gains posted today. the week is early, only tuesday. but the dow partially raised yesterday and could post well in the week. and despite losing a six-day win streak yesterday, the nasdaq is attempting to rise for the fourth straight day although we should note it has been up less than a tenth of 1% in each of the last 10 sessions, so marginal gains. rick san tell lin chicag-- santn chicago. we were off to a good start with the retail sales. great, the american consumer is hanging in there. come on, if we continue to beat on economic data, doesn't that mean the fed is going to be less in play? >> yes. it does mean the prospects of qe-3 will be less. i personally will take better economic news.

retail sales were better than expected and the stock market was better than expected. the s&p 500 is at a 15 month high and we're 15 points on a high yet the market is not terribly excited because the volume is so low and the economy is still in a pretty difficult spot. nonetheless, we're holding up very well and in europe, it has been a lot more stable. right now, we'll take stability. back to you. >> we will talk about the vix and low volumes. what is going on with the yield up sharply from the same time yesterday? >> absolutely. we're hovering at the highest yields in 10s and 30s, towards the end of may, so call it 2 1/2 times. arguably, the data is improving. i could play half ostrich economics and not tell you. people looked it up, .8 retail sales.

it was good. they dug in. july has lots of seasonalities. non-seasonally adjusted, it would have been down. am i dismissing the number was good? no. traditional tradition traditionally we look at seasonally adjusted and jobless claims. we're watching very curiously what's going on in terms of europe. we hear quiet but not necessarily good quiet. we draw these conclusions from a good set of greek t-bill actions but i asked south securities earlier, who bought them. it's a pretty incestuous list and that has to be brought into consideration. >> my kids, when it's too quiet, something not so good is maybe going on behind the scenes. we're holding onto small gains after a lethargic start to the week. with all this back and forth, what will it take to get retail

investors to trust us. and the fund manager of the fort pitt capital return fund a andradedand adrian day, what will get people back in this market? >> i think it will take a 1500 level on s&p and something near the historic highs to get the retail investor beginning to get interested again unfortunately. that's classically when retail investors start to get interested, they see a new high and see it as an all clear signal. that's backwards but the way it is. >> what is the point of that? that's really unfortunate but will pile in when most gains have been made. >> not necessarily when most gains have been made. they're missing out a large portion of the gains we have

seen since the rally of '09, 100% of prices and people want to invest when it's safe and comfortable. it's about being uncomfortable, but having the courage of your own convictions. >> we're looking at day-to-day generations here. i know you try to cut through in terms of your own strategy but not good for the guys at home. what will get them to look past the day-to-day headlines. >> i agree with mr. smith. retail investors want confirmation, want the market to go up, bond, market, stocks, gold, they want it to go up before they invest because it makes people feel saver. the market is gyrating, reacting to news, europe's bad, sell off, europe's good, go up. we had a couple of good days of news in europe and the u.s.

i don't think we can say we're out of the woods yet. >> what will make us out of the woods? anything on the horizon, adrian? >> a lot of investors are looking for stimulus from the fed or ecb, particularly the fed. i i had hate to invest based on the fed may or may not do. we have had a rally in the market, 100% since some years ago, there are good rallies with companies selling at good prices. >> like what? bring us through those. >> in the u.s. we like high dividend stocks, business development companies, small businesses and don't pay tax at the corporate level and high yield yields,airies has an 8% dividend yield, and in asia we see good

small companies with growth, kingsman, kim in singapore. it makes designs and exhibits for museums, for shows, stores. yields 5.6%, trading at only eight times earnings. these are good values, no debt. >> still going for dividend plays. thank you for joining us. we have near micayla wite kayla like this is better than the market was expecting. >> it is better than expecting on the face of it, that maybe $700 million would be the settlement and analysts saying maybe a billion. this is a watershed for standard & charter that came out for the multi-year services. this was a multi-year investment on the iranian clien and it

was created october 3rd 2011. while this is a big moment for operations in the state of new york where it clears $200 billion of transactions daily, there could still be more forth coming from the regulator. >> it sort of has a reputation damage because it sailed through earlier. what's the reputation now? >> we have to see the federal side, the department of justice, treasury department, fed, those discussions with the bank are still ongoing. if they are choosing to levy finds compounding what we see today, the standard says only $14 million of transactions actually fit into the loophole the dfs was charging them with it and you can see that high discrepancy. we'll see what the feds have to

say what the level of wrongdoing and egregiousness is. we still don't know yet. >> with many investors hunting for you, you might be among them, there may be a saver way to explore junk bonds. we kind of got on to this segment with regards to municip municipal bonds, high yielding. we've been covering a lot about bankrupt towns and dangers and fit falls of bonds the schools are issuing. why would you want to go into the world of munis when there are potential dangers out there? >> despite the headlines, munis are an asset class historically safe. these are bonds financing projects, very essential. schools, roads, airports, water

utilities. their record of default is actually very favorable. >> is there any way you can mitigate the risk, like going for shorter duration muni found? >> shorter duration will provide generally a little less exposure to the gyrations of the general level of interest rates. these bonds or funds will invest in bonds that have generally much shorter maturities and there for their sensitivity to interest rates are muted and investors get a little more stability or bond prices. >> what is the default? >> it goes back to the 70s. it's central projects also very resilient. particularly in the economic times we have now and ref new r

and securities are strong, a revenue pledge backed by tax or fees. even when we're dealing with the sluggish economic growth we're facing, they do very well. >> thank you. brian. >> thank you. we're following shares of ncr, trading four times volume today. the "wall street journal" reported yesterday they may have violated the foreign corrupt practices act they may have traded with syria when they shouldn't be and reporting violations in syria and also africa and doing their own internal investigation and why the stock is down 10%. >> thank you. next on "street signs," the tale of two cities. the best of times and the worst of times. we will head to the heart of america to get a real read of the u.s. economy. plus car crash shocker.

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as the producer pointed out, a rare intraday note. how about bank of america and merrill lynch upgrading to a buy. you see a pop almost immediately of 4 1/2%. they think the valuation looks

good at this level. you see that pop in the stock. >> a tale of t.o. cities is playing out in the heart of america. bismarck, north dakota is seeing the best of times with unemployment rate of 2.8%, the lowest of the nation. but it is the worst of times at el centro, california, unemployment is at 20.82%. that is the highest. what is the story in these boom and best times. the major of bismarck and the mayor of el centro. thank you for joining us today. i noted your unemployment rate was a very high 17% even before the economic and financial crisis. what do you attribute your high unemployment to? >> we are an ning ag-based comm and we follow the same trend. >> because people come in for

the season? >> they come in for the season and most of our labor pool is south of us from the valley. they provided for our ag industry and public sectors. >> if you don't mind me asking, how many of your seasonal workers are undocumented. if they were documented and were counted, would your unemployment rate would be lower? >> we don't believe any of our seasonal workers are undocumented. they are required to have a green card. in this case, we believe that is documentation satisfactory to meet that requirement for them to be employed. >> what are you doing to try to reduce the unemployment rate? how can you diverse your economy away from just agricultural? >> we have put in policies to diversify our economy and thus far we had some measure of success. we moved into light industry, retail and construction and obviously, some new energy sources such as wind, sole lar and geothermal.

>> best of luck in your efforts. i will get to john now. you had the lowest unemployment rate, how much is due to the booming fracking industry. absolutely, a big part of it. these are extraordinary times in bismarck, north dakota. contrasting, our economy is extraordinarily diverse, energy, coal, natural gas, wind, our ag is very very strong. we had adequate moisture this year, no drought, manufacturing, health care center and the state capital. >> you dy vers dy verow ver div there was ban on fracking you would still be okay? >> it would hurt. we are worried the epa would determine fracking fluids as environmentally unfriendly. you look at the history of bismarck, we came through the

2008 recession as the only small metro area in the united states to not go into recession. we feel we have a self-sustaining economy and extraordinarily robust and resilient. >> let's hope it's sustainable. thank you for sharing your story as well, john. >> you're welcome. >> jobs in the economy are obviously top issues in the race for the white house. and so are the personal finances of the candidates. mitt romney is no stranger to having his wealth scrutinized. now, his running mate, paul ryan's investments are under the microscope as well. joining us now, dave, are we going to get a look at the irs filings from paul ryan? >> we definitely have a look at some of his previous finances. the irs question is a little bit different, too. he said he will release, like mitt romney, two years of his tax returns. pretty much meet him year for year although he actually did release to mitt romney during the vice-presidential screening process a few more years of his tax returns.

>> do you feel in terms of transparency points he rates higher than mitt romney? >> by default he does simply because every year as a member of congress he has to release a personal financial disclosure form. we see a lot of information year by year where his wealth is and how his wealth has grown. it has grown. he has a lot of stock investments in companies very familiar to people. nike, starbucks, google, tobacco companies, altria and philip morris and exxonmobil, the oil company. these are all coupled together, make him worth probably a couple million dollar based on the most recent reports we have available to us. >> are there any potential conflicts of interest here? i will say this because i was reading one article that says ryan's budget preserves billions of dollars in tax breaks for big oil and his family owns stakes in companies that lease land to such companies. >> he does. between him and his wife, jana,

they have holdings in various entities such as that. something as we go forward, you can expect the democrats will scrutinize this as well. it will be scrutinized. is it a conflict of interest? in a legal sense, that may not be relevant, but from should he have those investments sense, possibly, yes. >> thank you for joining us. >> thank you. >> just ahead, the death of the test drive. why some people are buying before trying and the good old-fashioned nanny state that proves it just might be worth having the government telling us what to eat and how to eat. back after this break.

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we have a whole bag of sunshine for you today. google is on track to close at its highest level in 4 1/2 years and two retailers looking to close at four year highs, home depot and the gap. home depot up 7.9% over the last year and theow is up 109% of the last months. now, 20 under 20, 40 young

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talking about olympic health is tara. congratulations, tara. great to have you with us. you're trying to change the world through public health. what exactly are you trying to do and how? >> sure. thank you so much for having me. data is as vital to solving health challenges as vaccinations. this truth isn't widely known. my team and i at check-up are seeking to capitalize on this trend by taking important data, dissecting it and putting it in the hands of those at the agency to create change. we create value for our small on the ground clients as well as large multi-national companies. our product has the potential to improve the way they operate in these markets and potential to eliminate inefficiencies in health care that prevalence seemed inherent in the system. that small clinic in india turning away diabetes patients with our product is able to increase standard of care and

multi-national corporation can increase sales in this market. our vision is to use a universal platform for health data that incorporates small and large actors can really increase our standard of health care worldwide within ten years. >> suddenly, you're thrown into this elite community of silicon valley insiders. do you find it intimidating at your age? >> there's a lot of impressive people. when you're the smartest person in any room, that's a key sign to leave the room. so i've been grateful to have a lot of smart people around me. i just try to learn from them as much as possible. >> where do you see yourself in 20 years? >> i see myself working to create substantive change for human kind rooted by deep human motivations or deep human fears. that can be basic lie health care or larger needs like social and other important stuff. really, i feel if i'm doing that in 20 years through other ventures or funding ventures, that will be a good place to be. >> best of luck in your

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welcome back to "street signs." at&t has a huge budget when it comes to cap x. they're taking 600 million off the table. that's considered by many analysts a negligent for network equipment makers.

down 4 and 5% respectively. for a perspective, cap x budget $20.4 billion, going down to $19.4. >> why don't we look at the stocks spiking and they spike instantly on the bank of america upgrade. >> do you know what's really something, you end up with an upgrade in the middle of the day you never see and what's more, if people wake up and say, maybe i should buy netflix. out of the blue. the analyst has a report, sell-off overdone. there's value here and goes on to say there's plenty here for bulls and bears, puts a price target of $72, not a wild price target because the stock has been all over the place. again, people wake up, this is this market of wild swings, buy now, ask questions later. that's what you're seeing here. i want to point out interday,

upgrade buy on analyst is so unusual, i wonder if it's a trend we will start seeing if these guys try to get maximum impact from these calls. >> we're kind of seeing these magnified or overmagnified pops and drops because of low volume. yesterday was the second lowest volume day of the year. i want to talk about group on a well because it's been really hammered and sitting around the lows ever. why would anyone be bullish on group jo groupon, fight for the bullish side. groupon goods, they talked about on their call, talking about inventory, they will take title to inventory, you go to groupon goods, they're competing with likes of amazon. the first thing i thought haven't you ever thought of buyback.com and overstock.com, to see how difficult that business can be. i don't know. people point out the bullish

side and the contrarian bull the sis. why would you be bullish on this stock. look at the other side. groupon has positive cash flow, net income positive and posit e positive-free cash flow. it has cash -- excuse me, cash -- a lot of cash, $1.2 billion of cash, no debt. you have to say to yourself, is that sustainable? the balance sheet looks okay. then they will take on inventory? people are nibbling at it and see value and want to see if they can get something. >> another high profile internet ipo, since the ipo like facebook and zynga, this one has disappointed. >> it disappointed right out of the gate. from the first s1 there were questions. you can see this going on, i'll say it all along, andrew mason is on my list among those who could be named worst ceo of the

year. here's the however. second quarter earnings were dragged down in part due to -- >> this write-off of j.j. b. sports, a uk sporting goods retailer. this is fascinating when you look at it. they made and investme, $33 million investment in jjb just four months ago. when do you see a company come out and say we will totally impair within four months of the investme investment, you look and say much worse than expected. what kind of due diligence did dick's do, the real story it's not going quite as expected. snow didn't they come out and say we knew this would be high risk from the get-go. >> come on. how bad could it get within four months for them to do this write-off. it didn't and it dragged them down. >> how is it affect iing

under armour. >> it's not a huge impact. brian tweeted something that got me looking at this. if you go back to under armour's earnings call two months ago, they were excited about this dick's deal with jjb because it would put them in a bigger way potentially into the uk. now that this deal's gone perhaps it takes a little bit off that. under armour has a little bit of business in the uk, not much. this was potentially a big deal. >> let me tell you an interesting fact at under armour, this cool technology you walk around in black on a hot day and absorbs the heat n. we have new technology called cold black and you can walk around in black out fits and not get hot. >> given that's my color -- >> very slimming. and we look forward to earnings

from cisco tomorrow. >> they're reporting after the close. what they will do sequentially, people are expecting flat sales. i think you can expect something better. looking at the balance sheet, cisco is $32 billion in cash. i was looking at free cash flow positive. 2% yield, the cash flow has been rising. the balance flow has been improving while the meet and beat gain in walt and the company is meandering along. >> we're looking nfor a number there n. thanks, herb. >> you're welcome. >> there's been action in the vix yesterday the fear factor. the volatility index is higher by 8% after plummeting 7% yesterday and closing bloo 14 for the first time in five years. historically, these low levels have been a prelude to big drops or big gains in the s&p.

it got us thinking, what are the important levels to look for based on the vix. joining us at mk & partners. at these levels, where are we going to go from here? >> the vix is test iing support levels below 15. if we go below that, wilt suggestwilt -- will suggest a new developme development. it's hard to call this a decisive wrebreakdown. we have seen the vix come down for a few months at a time. not necessarily a bearish indication for the s&p 500 but it does make sense people are concerned about it because it has topped in the past. >> is it accurate to gauge how fearful the market is or should we look at something else? >> i think we need to look more

broadly. one transaction al indicator. we can look at the issues not quite set up the same way and the investor polls and engage investor sentiment by reading the headlines. it does not seem overly complacent looking at the market that way. >> looking at it themselves, where do you feel the marketed wi will go, up or down? >> i think it will be up over the next several weeks. we cleared a couple resistance levels in the chart. the next level in my work is around 1440, based on the may 2008 high, another resistance level. positive mo mmentum supports th market and see consolidation in the days ahead that will give way to further gains. >> the vix suggests the market is it calmest since five years ago. coming up, why the cool kids really want to borrow dad's car now and how popular brands

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coming up at the top of the hour on "closing bell," should you be taking aim at target's tock. we'll get that coming up. and with wholesale food, how is the drought affecting business and will its for prices to raise appreciably. and calling paul ryan's budget a fairytale. both sides of that controversial view. and the buzz has been going on all day. michelle and will see you at the top of the hour for the "closing bell." first, brian shactman. >> pretty big name at the opening bell. look at rirch in motion. turns out franklin mutual advis advisors is the fifth largest stakeholder. you see the stuff gets disclosed a pop in the stock. not the case today, down 5 1/2%. price action continually defies logic?

7.64, it's sad. thanks. when it comes to buying a car, fewer people are kicking the tires. more than 1 in 10 new car shoppers are buying without taking a test drive. instead, they're focusing on online research. the trend could be trouble for dealers who says the test drive seals the deal for a shopper kind of on the fence. toyota proves you can teach an old dog new tricks and redesigned the camry to attract new buyers and were surprised how well it worked. camries were up 40%. the old camry was a baby boomer's favorite. now, the presentation at the jpmorgan analyst conference, the senior vice president say thes new version has knocked 10 years off the age of the average buyer. safety is another factor that can sway car buyers.

now, tests of popular luxury brands and collisions involving the front corner of the vehicle, tom costello has this report. >> reporter: good afternoon. most cars are passing the federal government and insurance industry's crash test. this is a new crash test from the insurance industry about testing cars for an accident in which only that 25% of the car is hit missing most of what's in the car to protect you. >> the newest crash test from the insurance institute for highway safety is all about the overlap. the 25% overlap portion of the driver's side that hits a barrier or a car at 40 miles an hour. small overlap crashes were responsible for 25% of all serious injuries and deaths. >> the key crash absorbing structure in vehicles is located here in the middle of the front end. people are vulnerable in small overlap crashes because these

structures are bypassed and the crash forces can go directly occupant demonstrator. >> only 3 of 11 mid-sized luxury cars and near luxury cars had acceptable ratings. look what happened to the lexus i s250. >> the alexas is was one of the worst performers. the front pillar pushed towards the driver. the front wheel pushed into the occupytant compartment and the foot well collapsed trapping the feet. >> the is and ds were among the worst performers. with this new test, the institute has raised the bar again and we will respond to this challenge as we design more evacuation. the mercedes c class and audi 4 received pore marks while tsx and lincoln and volkswagen cc received marginal scores.

they said the key to good scores is a safety cage that protects everyone regardless of the impact zone. >> strengthen the safety cage and improve restraint systems. >> audi say they're work dog improve their cars to get better scores. mercedes says it disagrees with the test design and believes strongly in then c class and accura says it will work to improve its cars. >> good question. will this test be used across the board for all cars not just luxury end? >> i think so. this is the insurance industry not the federal test. the insurance industry is saying it believes it needs to raise the bar because so many cars have performed so well on the traditional standard impact test, it needs to start adding crash scenarios to try to protect people. >> thank you for that report. kind of painful watching those

crashes. one of the most prestigious car auctions is haebl ppening i california on pebble beach. here's a peek at a classic car hitting the auction block. this is a stunner once owned by artist andy warhol and driven by race car driver carroll shelby. only four of these models ever put. this is one of the rarest ferraris in the world and they estimate it will bring in between 5 and $7 million. robert will be there live, lucky guy, from pebble beach for a special coverage of the auction on friday to see the rarest and most expensive classic cars on the earth. some of the most beautiful as well. >> coming up next new evidence the nanny state may know best. what role the government should play in our food choices.

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a new study shows that curving sales of jump food and sugary drinks in schools may

help stop obesity. let's ask justin wilson, and jim copeland, director for legal policy at the manhattan institute. thank you for joining us, justin, does this suggest that the nanny state does work? >> i think there is a difference between the way that we regulate school lunch and what adults can enjoy. i don't think this will give any credence to mayor bloomberg's plan. i don't know that it's necessarily true that we call it a than in nanny state initiativ. >> do you green? do you think it gives any

credence to major bloomberg's plan? kids are used to being told what to do where adults say i want to do what i want. >> they don't find any statistically significant difference in terms of childhood obesity rates. they find evidence that it reduces childhood weight, or when you start cat gore rising it as overweight children rather than obese children, there is significance. if we're paying for school lunches, there's no reason not to try to make those school lunches health. i think when it comes to vending machines and other policies, it's a tradeoff. a lot are saying we'll butt in your friending machine if we get money from you.

that's a drad off between availability but getting more money to pay for teachers and for education. and that's a policy tradeoff i don't think this study answers. in terms of mayor bloombergs policies, i agree. some may be defensible when it comes to disclosure on restaurant menus and things like that, but when you talk about prohibitions of large sodas and what not, i think that's a policy overreach we don't want to see, and it's very different than paying for children's launches in childrens schools. >> and when you talk about taxpayer dollars, you have obesity, rates on the rise, medical costs for everyone go up, so maybe to an extent the government should be stepping in and saving people from themselves. >> well, i would not frame it as the government saving people from themselves here. i think as an adult i want to

make my own choices and different people have different preferences for what food they want or what not. i don't have a problem with saying excise taxes that are true excise taxes, intended to defray the social costs -- in other words, what are we paying for medicare and medicaid, maybe the taxes at some level might be appropriate. in the cigarette context, the excise contest exceed the social cost that are occurred. in principal i think that could be okay, but i don't think saying -- mayor bloomberg has the worst of both words. he wants to outlaw large drinks and it will almost no impact and it will just reduce consumer freedom which is a problem. >> we completely agree on the justifications here, the idea that we should be able to use the tax code is really

frustrating. it opens the door to regulating every a aspect of our live. if it's soda today, there's other things that would be open to taxation on government. while we may agree on school, i think the government should stay out of our kitchen and restaurants and if you're in new york city stay out of the food carts. >> maybe, you could say even in a school situation, that kids should be taught to be responsible and make responsible choices for themselves. if we take away sugary drinks, and they only have health food, will they be able to make the decisions as adults. >> that's right, we have vending machines in schools, and they learn from making mistakes and there is personal responsibility

which is something that everyone agrees on. and i think parental responsibility is more important than schools doing it for us. there are 18-year-olds that can list in the army but cannot by a fully sugared soda in a high school. >> i have to jump in there, great debate, thank you for joining us. i'm sure many people at home have their own views as well. speaking of food, chocoholics can rejoice, this chocolate has half of the fat. it has a slightly fruity flavor, but still have the tame texture. they're going to put it to the test. next up, a only woman city,

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