today out of those three, guys? >> gold. >> turn in gold and watch it because if it continues to break to the upside that means good things for the market. >> all right. see you later, guys. so much fun this week. that does it for us. catch options action and "money in motion" at 5:00 p.m. eastern time. "halftime's" over. the second half of the trading day begins now. >> indeed it does. three hours until the closing bell and final trading day of summer comes to an end. hitting the final summer of the weekend, "power lunch" is in september mode and going to be a monster month and we really can't emphasize this enough. take a look at the calendar behind me. overflowing. the democrats meet. expect big market moving news from microsoft and apple and amazon. there's a fed meeting and then a bernanke news conference. seeing a new roun of qe? plus major news on jobs and housing in the usa. and then, there's always the

unexpected because, remember, september is actually the cruelest month. we'll cover all of those themes in the next 60 minutes to help you get ready for what ahead but starting with simon hobbs in for tyler at the nyse. >> thank goodness we have a long weekend to rest and prepare for september. fed chairman bernanke open to easing but perhaps he wasn't as clear it's coming as many had thought. bob pisani looking at the price action with me. >> the bernanke put is in evidence. the problem the market had and the v-shape was that he -- this was a speech about the past and not so much about the future and buried comments way, way down. he said the cost of nontraditional policies when considered carefully appear manageable and implying not to rule out the further use of such policies if economic conditions warrant. this's the bernanke put and buried. took a while to realize. he's not really changing anything and going to act if he has to and said that the economy

was continuing to operation under the sub par level. he said inflation under control and the markets rallied. i agree with comments. europe is a big factor in the rally today. they think there's a big bond buying program coming. i think so but not next week. i think premature right now. >> we'll talk about that. thank you for the moment, bob. pimco's bill gross weighing in on the chairman's speech with the tweet. bernanke to go out with the guns blazing. qe3 is a near certainty. it will be open-ended but increasingly impotent. more from bill gross in the next hour of cnbc importantly. let's get a trader's reaction. kenny pulcari joins me. when's the street view? >> the market's kind of celebrating what they think once again is more rhetoric coming out of the fed and ben bernanke. dollar's under pressure and the equities higher. continuing to see that. we're not anywhere near the highs.

right? right at 1425. we're still stuck between the range. >> but the rally is failed. failed just above 1400. very important. >> exactly right. i think what people -- notice yesterday we broke 1400. trading south of that for a little bit. and i think that's what we'll see moving in to september. a lot more caution. >> thank you very much. have a great weekend. let's link in to steve liesman in jackson hole hosting the coverage from bernanke and the other central bankers. steve, what did you think of what you have heard here? >> reporter: from jackson hole, fed chairman ben bernanke kept the door open for more monetary easing and i think it was a little bit more dovish than i expected. he talked about the cost in benefits. he dismissed some of the cost and saying that the costs are manageable and said we have a lot of headwinds. some of which do not lend themselves to being fixed by

monetary policy and shouldn't lose sight of the long-emergency room unemployed in the country and damage to the economy if it's allowed to persist for many years so it sounds like a fed chairman keeping the options open and data and a long way to go until the september 13th decision. back the you guys. >> thank you very much. steve liesman with the thoughts of jackson hole. find out what the bond traders think of the bernanke comments. joining us is holly liss. good to see you again. >> thank you. >> what is your reaction of mr. bernanke and where are yields going from this particular point? >> i think the immediate reaction was there was a little bit of disappointment he didn't come right out and say the enactment of qe3 but the comments say they didn't take it off the board either and they have potential to reduce the interest rate of reserves on banks and extend how low to keep rates for an extended period of time. looking at fed funds, they're pricing it in to the second

quarter of 2015. so i think that was what he wanted to accomplish and i think he did a good job at that. we're certainly seeing treasury rates fall lower as a result of that. i think that's probably going to continue. i don't see any impetus for them to go higher at this point. the economic data is mixed and weak. certainly, everything next week we're all looking for is the adp and nonfarm payroll. not expected to be really great again. they're going to be falling from where they have been year to date average. 10-year rates could go to 144 in the short term about a point higher in terms of december futures. >> holly, thank you v. a good long weekend. you might need it given the data coming out. all right. let's check in on how the dollar is trading against the euro right now. the dollar did dip against the euro earlier and continues to outperform slightly against the dollar today. conflicting reports of germany's central bank chief is actually threatening to resign. two sources, two different

papers and two different takes. either way he is stepping up the war of words with the european central bank. the ecb plans to start massive bond buying to shore up spanish and italian bonds yields and warned it could be addictive like a drug. that's a quote. simon, what is your take on this and mean more importantly perhaps for next week's crucial ebc meeting? >> two things. it means two things. the fact that he is thinking or considering resigning, the faac of the headlines is moving towards the bond buying. there's no smoke without fire. there are -- you see it from the counsel members speaking today and something is coming and big and start this announcement next thursday, september. equally, though, you have other news reports saying because of the tension with this man, the head of the bundes bank angela merckel asked them to delay asking for aid. they have to ask for aid before the bond buying can occur for

the ecb. >> exactly. >> yes, it is coming but it is not coming as fast now as perhaps we thought 24 hours ago and this market, sue, may be disappointed come thursday. >> don't you think the market is set up for more than perhap what is's coming next week? it's almost priced for perfection. >> they need to listen carefully and not assume the big bang when next draghi speaks up. think eve been very clear. it is a process and this time it's a very evident process, i would argue. not so much behind closed doors. >> that's true. more transparent than the past. >> gas prices if we may, sue. >> yes. >> gas prices are up and interestingly enough not stopping americans certainly from hiting the road this labor day weekend. this seems to be the indication. we are expecting an increase in people traveling here this year. and that's certainly helping the airlines as is the possibility of m and an activity. phil lebeau live for us in chicago. hey, phil. >> reporter: we'll talk about the m&a news in a bit but dpirs

labor day travel and expected and third consecutive holiday we are seeing an increase. 33 million people expected, 2.9% increase according to aaa. highest travel levels since the recession. air travel is outpacing the overall growth of travel and when you look at the airfares coming in to this weekend, they're up 3% compared to last year and they're even some airlines that are offering last minute labor deals. not booking by now, not sure they're around. as for the bulk of the people this weekend, traveling by car. and to do so, they're going to have to fill up and the national average, $3.83 a gallon according to aaa. number of people expected to take a road trip of 50 miles or more, expected to grow by 3% and the highest gas prices right here in illinois, michigan and then you have the three states out on the pacific coast and new york. those are the highest, lowest priced by the way this colorado.

this weekend is one of those where you see a lot of people out on the road and third straight holiday, simon, we are seeing an increase in people traveling. >> yeah. interesting. what about the airline discussion. the news today that amr, american airlines, is now going to have closed discussions with u.s. airways? people say, oh, they'll merge. is that the case? >> reporter: and the plot thickens because in the last few minutes we have learned that the parent of british airways, the international consolidated airlines group, has also signed a nondisclosure agreement to look at the books and share information with amr. simon, what this comes down to is beginning the process of amr saying if we merge, who do we merge with or who takes a stake in us and the reason that british airways would take a stake is one world alliance. founding members and british airlines doesn't want to lose amr. u.s. airways is part of the star alliance. part of the dance beginning now.

>> interesting. british airways would probably like to take them over. >> sure. but they can't. that's the limit. >> in chicago. just staying within the airlines, germany's biggest airline lufthansa is hit by a cabin crew strike today. hundreds of flights canceled. the labor union is threatening more work stoppages over the next few days. all this, of course, as many europeans start returning from their summer vacations and will not have a public holiday on monday. let's get to seema mody for a market flash. >> we have our eye on a couple of online travel stocks. priceline, pretty strong chart there. today, it's flirting with this 200-day moving average. traders saying it's a sweet spot for the shorts. up about 2%. sue, over to you. >> thank you very much. as we mentioned we have one big september coming up. if you look at the calendar, it really starts on tuesday but on

"power lunch" it starts right now. when we come back, how wall street is betting on the upcoming election. plus how the democrats prepare for their convention. all of that when we come back in two minute's time. [ male announcer ] let's level the playing field. take the privileged investing tools of wall street and make them simple, intuitive, and available to all. distill all that data. make information instinctual, visual. introducing trade architect, td ameritrade's empowering web-based trading platform. take control of your portfolio today. trade commission-free for 60 days, and we'll throw in up to $600 when you open an account.

welcome back. now to the september to remember. the key events that will shape the market starting when you get back next week. let's start with politics. and our attention now turns from the republicans to the democrats. the democratic national convention kicks off in charlotte next tuesday, wednesday and thursday. the democrats' chance to make their case. our john harwood traveled up from tampa. good the see you again, john. this is not necessarily a cake walk for the democrats. >> reporter: absolutely not a cake walk. that is very vulnerable incumbent president who's locked in a dead even race with mitt romney and the president's team expects mitt romney to get some sort of bounce out of that convention. you know, we were at the arena in tampa last now and now in charlotte, north carolina, which is also a swing state that president obama carried four years ago. the president i think will not, sue, repeat the gambit of a mystery guest like clint

eastwood. didn't work out too well for mitt romney but he will have bill clinton, former president, on wednesday night of his convention make the economic case for obama's re-election. the president is weighed down by the weak economy. bill clinton makes economic arguments between republicans and democrats better than anyone and then president obama will have the big moment on thursday night to do his acceptance speech. mitt romney used his last night to try to sketch out a more human picture of his life, talked about his family, his parents. and republican strategists i talked to think he succeeded with that. question is whether it reaches enough swing voters, especially women, to get over the hump in the end. back to you. >> thanks, john. let's look at whether mitt romney sealed the deal with wall street. john carney is speaking with key players today. what was the verdict? >> they liked what they heard. they thought romney was focused on the economy and not on the hot button social issues. they think that's the right way

to go. the line that actually three different people brought up was isn't it a shame that the best you felt about obama is when you voted for him? that perfectly captured the way they felt and been disappointed and thiey think romney captured that perfectly. john harwood, clint eastwood, how damaging is that talking about appealing to independents, simply because what happened last night has prevented romney from being solely the story coming out of the tampa? >> reporter: well, we all had our reactions in the hall. we will have to see over time what polling tells us about how successful the night was. i perceived it as a huge missed opportunity for the romney campaign. they had a very touching biographical of mitt romney that had great family moments and ann romney herself

alluded on morning television, i wish more people had seen that. i think that was a signal that she wishes that had come at the top of the 10:00 p.m. hour and the broad networks were covering this. i don't think in the end it's going to be a huge negative for the romney campaign and some republicans are making the argument that he was a magnet to get some viewers to tune in and maybe see romney in the end. we'll how that plays out. the other thing i was going to mention, simon, was i heard what john said about wall street but larry kudlow was disappointed because he didn't talk about tax cuts, an issue he's come out for in the campaign. didn't linger on the issue at all last night. >> that's what a lot of people did bring up. we like that he was focused on economics but he has a tax cut plan and didn't say a word about it so there was a lot of larry kudlow-like sentiment out there. the other thing they seemed a little annoyed by was that

romney didn't come on until so late. these guys, you know, maybe they have early, you know, they have to wake up early. you know? when the markets open but they said, look, he probably missed a lot of americans just because it was past their bedtime. >> not all on the east coast, are they, in fairness. >> that's true. >> reporter: i got to tell you. i just talked to a republican ad maker who said there were moments in the campaign, insulated himself to the bain capital attacks. it was as good as romney can get but in the end it's a speech of 37 minutes 10:45 p.m. when most of the people are asleep. >> okay. johns, we'll leave it there. thank you very much. market flash now with seema. >> take a look at shares of facebook hitting a new low today. several different brokerages cutting the price target on the stock.

warning of a lack of earnings momentum. keep in mind, facebook will go through a series of future lock-up expirations so that could weigh on the stock. back the you, sue. >> thank you. analyzing the analyst. find out if the wall street upgrades and downgrades are the right calls and on the list, corning, mattel and spectra energy. look at the most widely held stocks of america and a mixed bag in today's trading session with microsoft as one of the standouts up 1.3% on the trading day. the dow up 50 points. and crowd cheeringsounds ofd just you know walking, sfx: sounds of marching band and crowd cheering and i found myself in the middle of this parade honoring america's troops. which is actually quite fitting because geico has been serving the military for over 75 years. aawh no, look, i know this is about the troops and not about me. right, but i don't look like that. who can i write a letter to about this? geico.

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start trading today with optionsxpress by charles schwab. time to do some analysis. ed ponzi with us again. you've been with us all week. a great week, ed. >> great to be here. >> let's finish up on a high note with oppenheimer upgraded corning to outperform from perform seeing limited downside given the share buy backs and the dividend. the firm notes, quote, a visit to the company has given us a fresh look. over one year, the shares have pulled back about 19%. they're up almost 3% on that move by the company today. what do you think? >> well, you know, i do like the company but i'm just going to disagree with the timing of this call. i think it's early. the problem with the company is business is becoming more cyclical and unless you see the economy improving sometime soon, i don't really a compelling

reason to buy it now. their margins deteriorate slightly. not the end of the world but because of the company's more cyclical, i disagree with the timing here. >> watch the stock for an entry point to go long. >> if the economy improves -- no point in buying it now. >> next to this company, i have products in my home. mattel. ubs upping the price target reflecting a move forward of valuation basis to 2013 and adding, quote, we could see a dividend increase of anywhere from 4% to 24%. which is pretty bold. ubs with a buy on mattel. shares up better than 12%. what do you think? >> i like just about everything about this company. fundamentals are great. the debt to equity ratio is attractive, the valuation. trading at 13 times next year's earnings and a lot to like here and a great opportunity in the brick countries going forward an

i love the management. the revenues are kind of flat and yet the profits going up and doing more with less. pretty much like everything about this company including the dividend so i'm going to definitely agree with this call. i really like mattel a lot. >> let's move on to barclays downgrading spectra energy to equal weight from overweight. here's the headline. lower barclays ngl price forecast is the driving force behind our more subdued outlook for spectra energy. spectra energy right now down by better than 1% on the information. what do you think? >> i agree with the call and it's really all about, i have to be careful how i say this. it's the frack spread. the difference of the ground and selling the finished product. that spread is just getting tighter and tighter and it makes it harder and harder to be profitable but it's more than that. there's another problem here. the problem is they don't really

have a sufficient hedging strategy and that really worked -- actually, worked in their favor -- >> right. in the early part of this year in their favor, certainly. >> it works until it doesn't. now working against them. i would have to agree with the call. i agree with the downgrade on the company. >> thank you very much. we'll see you later. huge moves in the metals markets today. gold up 25 bucks a short while ago. we'll hit the nymex floor for the final numbers. plus, shaping up to be a september to remember for technology. microsoft and nokia set to unveil windows based phones. amazon may roll out a new kindle and apple gearing up for the iphone 5. how should you position yourself ahead of all of that? we'll tell you in 2. a passionate belief,

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this is potentially a very big week for bouillon. gold prices closing right now. courtney reagan with the latest. court? >> that's right. after the bernanke comments, we sold gold sell off and then after they digest it, we saw the prices move back up.

hit session highs right around noon and looks like we're still about $13 shy of the $1,700 technical level and gold, silver and platinum are set to finish this month as their best since january and most of that is in speculation to what ben bernanke was going to say. now he said it. we have what he's going to say. i'm joined by paul sachs. what did the comments mean for gold to you? >> yeah. it's all a function of who's had time to read all 5,000 words and who has not. things i saw him referencing the potential diminishing returns in terms of what he's doing and they're really learning as they're doing. this is very unchartered territory in terms of how effective what they're going to do will be and how they can once they're there back away from that ledge. we had a spark in the volume around 10:00. 40,000 lots. that's very unusual. but with respect to what he said, this is much more of a rally than i feel is justified.

it feels like something else is going on underneath this because he didn't say we're doing x or y for certain. he's saying we remain open to the possibility of defending, you know, liquidity injections and the market and improving unemployment and didn't say it was more a comment on general policy. not a definitive move. >> where is your position going in to september? >> i am extraordinarily bullish. volatility here in the pit saying retailers coming for the calls. banks are buying calls. they're looking for a move. second half of the year, indicating 1,700, 1,800, maybe 1,900. >> i hope you're right and make the money. >> that will resonate here at the nyse and bob tells me we've seen decent volume on the precious metal etfs. >> a follow through to what courtney was doing and some high volume, heavy volume and some of

the big exchange traded funds. we have got a four-month high. silver and gold and mr. bernanke here, a weaker dollar and more inflation. you have the gld there at four-month high. silver, slv. gold trust and interestingly, remember everybody trying to short the s&p earlier in the week thinking that mr. ber nng would disappoint? well, we did to a certain extent. the's volume in the utfs short the s&p 500. look at the third one there. that's got volume on the opposite side and europe in between plans there. finally, the financials are getting volume, as well. put up the s&p for the month because we did pretty well. ending month here and i know september is historically worst of the year. talk about that? throw in my two cents. >> how are we set up for that, do you think? >> we're set up fine but i have the problem of the old wife's tales and it is statistically. since europe, things have

changed. the world can be -- august is traditionally the lightest month of the year volume. last month was heaviest. >> it was light. >> but my point is because of when's going on in europe, because of what's going on in the economy and the fed and the election, there's a lot of x factor that is are now thrown in. i don't think that you can use old formulas very successfully anymore. you tell me what happens in europe and nonfarm payrolls and i'll tell you what happens to the stock market. >> yeah. bernanke can predict what he'll do down the line. let's bring in kenny pulcari? >> you have to be cautious going in to september. everyone said there's all these x factors on the table, the ecb and the german high court. if they -- if draghi comes out with anything less than the big ga bazooka, the market is upset. >> well, he's not going to

deliver a bazooka on thursday because we know that the italians and spanish asked to delay the application to access the big bazooka. say there's a hiatus of, i don't know, two, three, four weeks, what happens then? >> kick the can down the road. >> is that enough? can we stay where we are? >> no. i think the market takes money off the table. i don't think it's going to crash but i don't think it's going higher. gold may be but the money coming off the table. >> this is share volume and the slope to the downside. it is declining because all the major market participants trading less sigh that dark pools? >> well, yes. first off, nyse volume and the dark pools somewhere else, no, it does not. overall volumes down everywhere, trust me. put up dollar volume. i think it's important. this is share volume. kenny, you might want to comment on this. the actual amount of volume traded which includes the dollar

amount, you could see this is four years and not changed that much. the average price of a share traded gone up. about $50 four years ago on the nyse. today $70. dollar volume, the amount of dollars trading is roughly the same. not trying to make any excuses for the crummy volume but that's important. >> it goes right to the argument of seeing every month. we see money coming out of the equity space and being taken out of the equity market and i think people are not sure. certainly big asset managers are not trading as much as they are because there's way too much risk on the table. it's very, very cloudy. >> will be -- >> until there's more clarity -- >> there will be another bull market, won't there? >> i wouldn't call this a bear market. four-year highs. good heavens. >> really? nowhere in four years? >> no. nowhere in ten years. a decade. >> four-year highs. the point is and i agree with you, look at the major players in the market. high frequency traders. institution traders.

prop desks. they reduced the trading activity. >> that's right. >> not just the retail guy. >> but the real asset manager, mutual funds, the real hedge fun, they have pulled back and causes everyone else to pull back. you don't get that movement and the activity. >> when people switch back from bonds to equities, the world will change. >> a raging bull market. >> maybe not today. let's end going away for the weekend to get get better. >> bubble in treasuries. i felt that way over a year and been wrong. >> unfortunately we have to go back to sue. thank you, guys. have a great weekend. >> an you. >> i miss you guys. i miss you. i got to get back down to the nyse next week. as we know, no quantitative easing in the speech today and leaves the door open for stimulus if needed, an opportunity for him to act could come as early as next week with the august jobs report on friday or an announcement next fed meeting on september 12th and 13th. so joining us now with the fed's

options and to handicap that is mark vitner at wells fargo. welcome back, mark. >> good to see you, sue. >> you, too. let's start with what the fed will do and when they'll do it. >> at the minimum, extend the language regards of how long short-term interest rates at near 0 and i guess through 2015 and if that's to compass, the federal funds rate between 0 and .25% for 6 years. >> is he come what tied to next week's moves by the ecb, whatever they may be? they have to kind of consider what the ecb is going to do but how much of that is going to be under consideration, do you think? >> well, i think that's a -- i wouldn't say a minor consideration but it's somewhere just above a minor consideration. the fed's korgs is the u.s.

economy and what they can actually deal with and prior to bernanke's speech, i would have said it would probably be influenced a great deal by friday's employment report. i'm not so sure that's the case now. when you look through the references in bernanke's speech to labor market conditions, he's much more concerned about labor market conditions from a longer term per ses tense and high unemployment that shows no sign of going away and i don't think he's paying attention. he's looking at the more intractable problems and he sees a need for moreetary action to deal with them and clear of qe coming and not sure that the timing's going to be at the september 12th, 13th meeting. >> you don't? >> may be later than this. >> what about the election and the consideration there? do you buy in to those saying that the fed would wait, not doing it in september, wait

until after the election so they don't look political or do you think that people are kind of exaggerating the importance of that? >> well, i think the fed's pretty adept at this highwire act that they have to negotiate to keep things away from the political realm. after all, bernanke's speaking right smack dab in the middle of the two conventions. how did he manage that? definitely a consideration. they don't want to unduly rattle the cages of anybody who's going to give them a hard time but when it comes time to doing what they need to do, they're going to do it absent any political concerns. the political independence of the fed is still pretty significant. they have to guard that. they have to act independent of political concerns. and for those that think that, oh, well, the fed's going to do a qe before the election and help re-elect the sitting president, i see that completely differently. >> do you think -- >> if the fed sees the need to do this, today, then that says a lot about the weakness that's

present in the economy which wouldn't be good for the sitting president. >> right, right. do you think that the economy needs more qe? do you think it's helpful? do you think we need more and they should do more? >> i think that it's clearly weak enough to justify more moves by the federal reserve. i don't know that qe's going to do it. everything in life has diminishing returns and true of quantitative easing. the first one did a lot for us. the second one a little bit for us. this one probably less than that. the fed needs to kind of hoard their ammo. they don't need to blow it all at once. i don't think it's a foregone conclusion to do this on the 12th and 13th and clearly leaning in that direction. >> we'll let you start your long weekend. thank you for joining us. appreciate it. >> thank you. let's recap some of the other big headlines driving today's session. housing stocks hitting new four-year highs. the health care sector also trading a the a new record high up nearly 10% since early july.

and then ford shares in gear today. the automaker says the focus of small cars on track to be the best selling car in the world this year overtaking the corolla. apple with the new iphone 5 and a new microsoft phone. what all this means for tech investors in the month ahead. you know what i love about this country?

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performer in the month of september. down an average of 4%. so will this year be different? it is a september to remember with tech. key product launches ahead. starting september 5th. nokia's coming without smartphones that run on microsoft's windows phone 8 mobile platform. amazon expected to announce kindle fire and september 12th apple is upset no. not upset. unveiling the iphone 5 and let's not forget the announcement on september 17th. joining us with more on the products and what's at stake here is contributor natalie. nice to have you with us, natalie morris. >> thank you. >> let's start in honor of the dates of the launches and nokia and microsoft and that event date is september 5th. what are you expecting? >> september 5th. microsoft is really doubling down coming to mobile. they have had a slow start but they're not going to give up. you got to hand it to them. they haven't had the adoption

they have seen despite being in the market for a year and incenting developers for apps. they have leaked images. they're very pretty. leaked on the gadget blogs and look very nice phones. very small and sleek and competing with maps, as well. they're putting ov maps in here and nokia's phones give you the apps when you don't have a connection and nice an driving out in the sticks and get lost, you can get directions. >> which is always very helpful to say the least. moving on to september 6th which is the amazon event. and, you know, the new kindle fire and the new kindle touch, amazon has just been executing superlatively. what are you expecting? >> holding this event in l.a. we think hollywood focused and put a lot of content deals on here to stream movies and tv shows and music and such. but they're also very -- they

know that they're an ereader first and foremost and expecting a full line and a backlight to read in bed which is nice. the nook has that. but we also think that the fire will get a little bigger at the same time expecting the ipad to get smaller and we see amazon kind of growing to compete with the ipad and then apple shrinking to compete with amazon. they're going head to head. >> speaking of aping, talk about the significance of the iphone 5. >> okay. >> a lot of people say that given this economy, apple is one of the few companies that can come out with new product that is are expensive and doesn't matter the economy. consumers will buy it. do you agree with that, first of all? how revolutionary will the iphone 5 be? >> this is the new launch. giving the product a new number, we pay attention. we think it will be bigger and the camera better. they're putting their own maps, maps is manager that everyone is competing on. so they can charge what they want to coming to this but you

have to remember in this country we subsidize our phones and still around the $200 mark. >> okay. motorola mobility, which is september 17th, in london. >> right. >> what are you expecting? >> so why this is significant is because motorola mobility is a part of google now. >> yes. >> but also intel's first real entrance in the mobile market. intel's been mysteriously missing from smartphones for a long time and expect to see them launch not only an android smartphone but a powerful one. we don't unfortunately know when it comes to the u.s. >> very quickly, the samsung galaxy, the event this week and the apple-samsung patent dispute. what are the implications? >> we have to wait. they'll counter sue and what apple hopes to happen is pulling the products off the market. what samsung hopes to happen is they don't. people still are excited about the galaxy. it's beautiful line of smartphones and we'll wait to'

if those phones become, i don't know, maybe contraband or who knows? >> who knows? we'll have you back to talk about that. >> we will. >> thanks. good to see you again. let's see how the big name techs are trading on the last day of august. jackie deangelis following the movers there. >> good afternoon, sue. not a bad day here at the nasdaq considering we are going in to the long weekend. looking at the index up just about 11 points at this hour. but let's take a look at the big movers as you said you were talking about. let's start with intel. 2% move on the day. partnering with idt on chip sets for the entireless charging technology and taking a look at ibm up nearly 1% today. moody's saying that the acquisition is credit positive. also, this morning's headline at ibm cloud working to deliver home entertainment services for phillips tv and shares of google paering the gains and there's a chatter out there that we have larry paige and tim cook talking behind the scenes of ip issues. keep that in mind and also

isplunk a big mover up nearly 15% reporting a wider than expected second quarter loss and same time revenues beat analyst estimates and raised the full year sales guidance. i just want to hit on amazon up .7%. the latest kindle fire with m mapping features and watching that stock closely. back over to you, simon. >> thank you very much for that. up next, clint eastwood's empty chair raising eyebrows last night at the rnz convention. creating some buzz let us say. did he hurt or help the gop? what's it mean for clint moving forward? stay with us.

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it is time for the "power rundown" heading in to the week. joining us is bob and john. welcome. first up, clint eastwood speaking, of course, at the rnc last night. did he make or break mitt romney's big night? john? >> i have to say i don't think he made his big night and i don't think it's a serious issue for him. look, you know, he was funny. we enjoyed poking fun at him but it's not anything to have long-term political

consequences. >> what bothers me wasn't the lame jokes but the fact that mr. clint eastwood showed up, mr. dirty harry, showed up looking old and it was sad to watch. if you come on, be careful about your image and for heaven's sake use a tell prompter and stay on message and leave the ad libbing to tv reporters. >> i liked seth meyers response. did you see that? only response now from the obama convention would be for vice president biden to take his shirt off. that was the only appropriate response. next, harvard is investigating whether dozens of undergrads cheated on a take home exam last spring. are you surprised, john? >> not at all. i have been doing reporting at multiple colleges that where. thea.s bringing up this issue, they think there's widespread cheating at harvard and elsewhere and think they're ignoring it because it's embarrassing. if you're harvard you don't want that you're supposed to have the

best and brightest students and a bunch of cheaters running around. >> alleged cheaters. >> there may be cover-ups going on. >> is there shock that students talk to each other about a take home exam? i agree. it's cheating but who's shocked? there's a paper out of current trends in college cheating. it was published in 1980 and found that 75% of the students they surveyed admitted they had cheated at least once. >> harvard kids weren't smart enough to cheat without getting caught. these guys will never make it on wall street. that's all i have to say. >> inflation in that aspect, as well. finally, today marks the last trading day of august, we're anxious to look ahead in to september. gentlemen, what is on your list of things to watch out for, john? >> watch out for occupy wall street. it is coming back. we are going to have a big march here in new york. they're planning on september 17th. and it will be a -- you know, an interesting thing to see.

do they have the power to put thousands of people in the streets again? >> if you come to the stock engs changes in 6:00, they're in front of the church. they're here every morning fwael. >> i think the leadership there and i respect occupy wall street. i think the leadership is little too diffuse and been a problem of getting the mess imagine out and articulating what they want. when i was against the vietnam war a million years ago that's what we were against. not trying to change everything in the world. one thing to do and ultimately that was accomplished. >> i'm skeptical they can -- i think they had their moment. i was there reporting from the occupy wall street park every day for several weeks. i think that they're going to have a lot of trouble getting that kind of energy back. they won't have the forces they once did. >> nonfarm payrolls to answer the question, most important economic event and whether bernanke wants or doesn't want qe3. >> were you at woodstock? >> no. i was 13 at the time.

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around 82. when's interesting is the breakout this week on gold. gold touching its highest level since march 27. we have closed, of course, on those contracts within the last 27 minutes or so. and gold related stocks are also doing well. and etfs, bob, earlier on. can we sustain this moving forward? >> remember. qe3, implication implies lower dollar and more inflation. this is, of course, positive for commodities and commodity based stocks. mr. bernanke told the whole for several years he wants more inflation in commodities and the stock market and buying the assets. just because he didn't say it personally doesn't mean he doesn't clearly imply when's going on and the market picks up on this now. they get the cues. >> doesn't necessarily have to be true but go with the trade at the time being. >> the inflation is not there. mr. bernanke made a side comment today in the speech saying inflation is under control

despite the concerns that this would ignite massive inflation. >> what happens moving forward? sue? >> i think trying to push people in to the other assets and so far worked to a certain extent. depends on the days. today it worked. ed, a great week. what are you watching going in to a new month? you said three words you're watching? >> three most important words for september are within our mandate. there's a tremendous amount of debate, a lot of discussion, there's going to be court decisions. all debating what does that really mean? future of europe on that question and hanging by a thread of europe. >> indeed. that's going to be a very big issue for the markets next week. simon, it's been terrific to be with you all week. have a great long holiday weekend. >> i've enjoyed it. you're stuck with me on tuesday, as well. >> excellent! >> we always enjoy being on. >> thank you. bob, you know i love you, babe. >> michele is here. she's in the house. she's ready for