>> that's the number to watch, right? >> it is. if it's good this keeps on running. >> keep on running. conversely, if it isn't. look out. scott, great to be with you. that will do it for "power lunch." sue? >> "street signs" begins right now. pros taking the money off the table before tomorrow. welcome to "street signs." i'm brian sullivan. get your rally caps on. the head of the ecb breaks out the big fiscal bazooka and stronger than expected report on jobs powers the markets higher. get ready for serious cocktail party trivia. we have the stats to amaze your friends and terrify your enemies. you can bet the president will mention stocks tonight and certainly a little about jobs, but even as we preview the president we'll fact check bill clinton's very long speech last

night. plus, is it time to hang up completely on nokia? speaking of phones, a crazy new way to charge yours. i want you to picture smartphones and underwear. i'm not kidding. all right. that's still to come. anyway, here's what we are aiming for with two hours to go. the dow would have its highest close since december 28th, 2007. s&p 500 needs to close above 1426 for a chance at its highest since january 3rd of 2008. did you catch that? both of those might be speech fodder of president obama tonight. they should be. as they could be the highest closes during his white house tenure. meantime, the nasdaq aiming for a close i high stretching back to bill clinton administration. it could achieve the highest finish since november 15th, and vamp on that later on in the show. for now, let's get to bob and rick. bob, first to you. i want to ask you.

you keep menging the most hated stock market rally of all time. why? >> because traders don't believe it. traders betting against it rather aggressively. people out of the market because they don't believe the fundamentals justify the highs. my point is fundamentals may not but the intervention of the central banks, it's very much in evidence. high volume here today. 25% higher than normal. twice normal volume in spain. new highs in s&p, nasdaq, hoemd bui home builders, brian. people starting in the exchange traded funds covering right now. this is very heavily traded today and betting against some of the big bank stocks again. short covering here, as well. brian? >> yeah. amazing volume in europe. great point. thank you. before getting to rick, i want to jump in with a market flash of brian shactman. >> qqq which track the nasdaq

100 at the highest levels since december of 2000. let's take a look at a 10-year chart if we have it. it's behind me. it's basically -- look at that. since '09 all the way up to new highs, brian. obviously hitting multi-year highs in a lot of different ways today. >> nearly 12-year highs on the nasdaq comp and mention we're nowhere near the march 2000 high of a cool 5,000 for the nasdaq. something to mention. all right. now, chicago. my favorite big city in america and rick santelli. rick, what are the traders there making of this amazing stock run? >> well, you know, i think the amazing stock run is no surprise to traders down here. because they do believe that a bazooka can cause shorts to behave in an aggressive let's get out of the position fashion and that's the catalyst with new activity but i'd like ask you to me the same question as bob. is today's stock rally going to

be a big deal at the dnc convention? because i -- if i was there, and i think the president should brag about that, what i would throw up next would be, well, if you look at december 28th and that's the dow record you're looking at, interest rates on that day for the 10-year 4.07 and if you look a week later at your january 3rd comp for the s&p interest rates were 3.89 on a 10-year so i pose to you, the president ought to give ben a call because managing these interest rates takes him so far. if this stock rally is the real deal as bob debates, interest rates have hundreds of basis points to the upside and what does that do with 16 trillion in debt and servicing the debt is done at much higher levels? that's the part b to the stock rally. >> better with a 2% or the corporate debt at 3%, i suppose. rick, it has to do with what you talked about. i was thinking the same thing. if you're the president, how

carefully do you have to dance around the stock market's gains for a reason? here's why. tell me what you think. number one, right, anger at wall street. number two, the fact that corporate profits are up in large part because companies are hoarding cash and not hiring and number three a lot of people out and don't have the money to participate. don't you think the president does need to be a little careful about talking about the stock market tonight? >> yeah. you know, that commercial with sweet and sour candy? first you love 'em and then you hate 'em, that's why the president will have a difficult time addressing that very issue. first you bail them out and then pretty much hitting them with baseball bats in the press. i don't know how to address that. we are down the rabbit hole of government and business and intervention and it isn't pretty. >> rick, thank you as always, sir. a crossing headline. amazon out with a new kindle and we have a first look. julia boorstin at the event. julia? >> reporter: well, brian, the new kindle is paperwhite and

supposed to be easier to read. 25% brighter display because it's, of course, white in the background. bezos says it will -- the battery life is much, much better. much easier to read and there's video right there and ship on october 1st. two versions of paperwhite. one without way if i is $119. the 3g version is $179. without 3g, $119 and also shipping a ten tri level kindle. the price coming down to $69. that will be shipping on september 14th. there's bezos there talking about the paperwhite. he hasn't yet introduced the kindle fires. we're anticipating that's shortly. he did start off the speech saying people want services and not gadgets and the kindle fire is a service and great detail of why the paperwhite is a much better device. that there's x ray technology

allowing you to look in to the book's characters and the author by very simply clicking on the screen. so he says that it will ship pocket 1st. waiting for more announcements of the kindle fire which should be coming shortly. back over to you. >> all right, yule yeah. we'll check back in a bit. thank you very much, julia. well, there are stocks superlatives where you look and dogs higher but is this actually a reason to be more nervous about the run? joining us is peter bookvar as well as new father dan greenhouse. both cnbc contributors. i'll go to the new dad first. first off, congratulations. >> thank you. >> your life has changed, my friend, largely -- >> that's what people say. >> largely but not entirely for the better. but the rally if we can. i'm not trying to water on it. right? it's great for retirees heavily

invested in equities but what's it saying about the fed and savers? >> well, i mean, let me pivot off that for a second here and just remind people that this isn't entirely a mario draghi and ben bernanke driven rally in the aggregate. marvgins at high levels and s&p earnings have doubled off the low so certainly central bank accommodation and enthusiasm is part of this but from a fundamental standpoint stocks should be at higher levels. >> peter, i know you've been critical of the fed's policy and heard rick santelli and his points of view and no doubt. stocks at four-year plus highs. is there a reason to hate this rally? >> i'm in the camp that this is a fed driving rally. looking at the market since early june, the s&ps up about 13% but the crb commodity index up 16% so if you're not in the

population of stocks, you are smacked with higher inflation. so, to me it's not an earnings story but all central bank story. >> yeah. >> can i just jump in? peter hit on a favorite, favorite point and that's this idea of come modifies equal inflation and not the case. i don't think peter is wrong. there's something to be said for looking at prices of commodities but commodities are not inflation. >> you have to look at what the central bankers are driving here. and if they're driving commodity prices at the same time driving stock prices, are we really better off? is the fed and the ecb creating a perception of things being better because stock prices are higher? >> there's no question that the fed is driving people in to assets like stocks, right? savers for lack of a better term getting screwed here, whether through higher prices or no return on the fixed income investments. do you think the fed is going to finish whatever plans they've

got until everybody jumps back in to the stock market? >> well, i've no doubt next week the fed will do more qe and once done i think the stock market faces a decision of now that the ecb aye nounsed they're ready to do something, the fed is doing their third round of qe, is the market finally selling the news on that? central bank policy taken us only so far. no why in terms of economic activity and taken us so far in terms of asset prices and we have seen in the past once they're done, the market then rolls over. so we'll have to see if there's follow through to the ecb an enthe fed done in terms of asset prices. >> but real quick, i don't know that's entirely fair. i agree with peter. there's an issue with the respect of given the end of the policies and valuations and the stock market in general but i don't think it's fair to say they've done nothing in terms of the economy because we can't prove the counter factual and what happens if they did nothing and willing to bet peter would agree with me if i said that the

federal reserve did nothing, the sp wouldn't have stopped going down. >> the u.s. economy would have been cleansed of the excess if the fed did nothing. >> at lower levels. >> guys, let's not argue the counter factual and not too tough on the new dad but since you argued that, what about this? when's going to happen because the fed did something? if low interest rates and the money supply and easy credit were the answer to the problems all the time, we would just permanently be there. there has to be an ultimate downside. >> i love you and known you for years aenl said this repeatedly so take it -- i want to be nice here. no one's saying the answer to everything always is super low interest rates and punishing savers and trying to drive investors in to risk assets and i don't necessarily fully agree with what central bankers are doing but be clear. what they believe are the solution to the current crisis doesn't mean if we have a moderate recession and slight

job and equity declines that the answer is slash interest rates to negative 4%. there are just people arguing that right now low interest rates are better than higher interest rates an let's be clear. it's not -- this isn't solely an asset aloe case. if they're able to engender a better economic outcome that's positive for employment, that is positive for the economy and ultimately positive for the stock prices. >> if it's all short term. there's a flip side to the coin. at some point, the fed needs to reverse this and the deeper they get with the policy, the more difficult it is to extract themselves from it and i guarantee there's going to be a very messy disruptive process in reversing this. >> and that i agree with. >> the story is not written until the interest rates are normalized. >> dan just did an effective job of saying i was wrong in the nicest way anybody has ever done and i appreciate that. wiped out. peter, what if you're wrong? what if there's no downside or the softest landing in history

and we don't have a collapse and we don't have a cleansing? >> that will -- this soft landing assumes that the fed can smau reverse their policy with really no harm done and i find that being virtually impossible. >> let me jump in and totally agree with peter. you know, this is -- i don't want to say this is all short term in nature but be clear. the ability to extricate themselves of the policies without an adverse implications for the stock market and the economy is virtually impossible. in the past equated to threading a needle on fire under water with your eyes closed. i don't think they can do it and not cause problems. >> so the dow up 4,000 points since qe1 began and up about 3,000 points since qe2 began. you believe qe 3 will begin. how much more will be added to the dow? >> well, i look at the next few months through year end as a pre and postelection. i think pre-election i believe

that the 1425-ish level is the upper end of the range because i think the mrkt's already diskointed the ecb and the fed. then depending on the results of the election to december 31st the market reacts either way. not seeing anything up or down about december 13th. so yes, we could continue a little bit to the upside before november and i don't expect much. to me, the ecb said nothing new and the fed is fully discounted and to me just performance chasing today. >> look. it was a great discussion as always. peter and dan, thank you. once again, from all of us here at cnbc, congratulations on the birth of your baby girl. >> thank you. thank you, peter. all right. on deck, we are going to continue to monitor that big amazon news conference. that on deck is right now. julia boorstin with new headlines of the amazon event. >> reporter: that's right, brian. we're finally getting news on the much-anticipated fire. that's the touchscreen tablet. amazon announcing that the new

kindle fire $159 with double the ram, longer battery life and a faster processor and i believe that will -- you can order it now and ship on september 14th. so this is the much-anticipated tablet and really important to note that the price tag is $159. coming down from the price before and also much less than the apple ipad. brian, back with more updates. back over to you. >> those are the key points. something we didn't hear of nokia yesterday. amazon throwing out a launch date and a price tag. we know when and how much. that's big. >> reporter: it is big and i think that, you know, we'll wait and see if we get our hands on it but it sounds like a faster processor, address the battery life issues and will be reassuring to consumers and bezos just been stressing they think of the kindle as a service just as much as it is a gadget and it has to have the functionality and not just look good and he was going through some statistics about how much this is driving people to read more using the devices. we'll be back with more.

>> julia, i'll bet you a bacon coffee in five years or less the kindle will be free. are we on? >> reporter: you know what? i think i might agree with you. >> i always lose my bets anyway. thank you very much. all right. well, stay on the phone segments. we'll debate nokia. should it hang up on microsoft or hang on to microsoft? we'll debate. plus, last night 42 got the ball rolling for 44. bill clinton threw a lot of numbers around and time to fire up the old fact checker. all 48 minutes of it under the cnbc microscope next.

at u.s. trust, our expertise extends well beyond investment advice and research analysis. it includes proprietary offerings like our eldercare program, which helps provide for those who came before you. and our financial empowerment program, which helps prepare those who come next. resources like these have made us the number-one trust company. that's why generations of families have come to us to help build their own legacies.

well, he's certainly a tough act to follow. former president bill clinton revving up the crowd in a 50-minute speech at the dnc last night. the big event, though, is tonight. it is president obama's chance to make the case for why he should get four more years. we'll get to that in a moment but first time to fact check the 42nd president of the united states. senior correspondent scott cohn is here and with the length of the speech you had your work cut out for you. >> we are all exhausted and did do it. bill clinton, of course, is an old pro at this and knows how to shade facts without fudging them. here he is last night on the cost of health care. >> for two years health care

costs have been under 4% in both years for the first time in 50 years! >> well, that is correct. according to the consumer price index. but mr. clinton attributes it to obama care and most of which didn't go in effect yet. it's more to do with the recession. mr. clinton hailed the obama plan to tie student loan payments to a percentage of income and goes back to 2007 and president obama expanded it. finally, this on the politics of hate. >> they need a republican congressman with almost 100% voting record on every conservative score because he said he realized he did not have to hate the president to disagree with him. that was a nonstarter and they threw him out. >> we wondered who bill clinton was referring to. we asked the office, the obama campaign. no response. we searched high and low for the quote. we did find this.

i don't hate democrats or hate liberals. i just disagree with them. who said it? paul ryan. the republican nominee for vice president last month in the milwaukee journal sentiment. we want to hear from you on facebook or twitter. doing a much more detailed fact check of president clinton's speech online this afternoon and then tonight the president. >> i would have liked to see warren, elizabeth warren. she had a pretty fire speech, as well. blaming wall street for the economy thing, whether you believe it or not. >> some of which is subjective or checkable and we're working on that, as well. >> the middle of her own race it pretty big deal joirks here's another cocktail party stat for you. if the s&p 500 closes above 1419, it will be the highest close during the obama administration. the s&p's up 68% since the president took office. s&p last closed about 1419 in

may 2008. it is a fact we may hear something about tonight. but right now let's get back to presidential politics. did the former president clinton make the case for the second term for president obama? let's ask jim pettacostus and joining us from the dnc and martin bailey. all right. jimmy, before we get to you. you need to take off the disguise. martin, the stock market's a tricky thing. the president can tout the gains but you have to be careful, don't you, because a lot of americans still have anger at wall street and corporate profits at record highs. how does he bridge that gap? >> well, i don't think he's necessarily going to make a big deal of the rise in the stock market as you say. that's not a main point of contact at least for that group of democrats. but i think he'll mention it.

he'll say, look, business is doing well. corporations have been doing well. and the stock market has gone up and that helps people in their retirement and their iras so i'd expect him to at least mention it. certainly when i was in the clinton administration and the stock market did really well we used to tap out back then, too. >> yeah. you know, jimmy, listen. it's a hard point for the republicans to counter. the s&p up 68% since president took office. how do the republicans go against that? >> well, first of all, let me say had we gone the shot earlier, we had a great too fighters mini concert out here. fabulous and pretty cool but as far as the speech last night, look. president clinton i think president obama, too, are going to make a sort of stay the course message. kind of a status quo message and i think that's a difficult message to make despite the stock market. you have an unemployment rate

with underemployed of 16%. a $16 trillion debt and very little said from the convention of a big economic problem. i mean, it's a mick emergency yet this is a morning in america like convention. we have further to go and we have come so far. 60% to 70% of americans think the country's on the wrong track. >> the first lady mentioned this in the speech which is basically, we have a ways to go as you noted. we are on the right track. give us more time. nothing changes overnight. are people buying in to that? i'm sure they are there. >> right. well, yeah, they absolutely are here. but again, polls show people are down on the economy. consumer sentiment levels at recession levels. is there good enough and the optimal outcome that we can expect given the nature of the downturn? has president obama pretty much done all he can do? i don't think so. the people here certainly do. americans will have to decide.

but i think that this is not the best of all possible worlds. the recovery could be better with different policies. >> strong point, martin. if you were on the council, how would you respond to that points? >> i think bill clinton laid out the case very well. he said when obama took office the economy was in desperate shape. it was falling. gdp in free fall. we were losing 750,000 jobs a month. the situation was really desperate and took steps, you know, some of them initiated before he came and executed on those steps, particularly the t.a.r.p. and the stimulus package and put a floor under that decline and got us going back in the right direction. now, something he should have done i think when he came in to office was say what bill clinton said last night which is this is going to be a long, hard slog. and there ain't no president to turn it around quickly. and certainly, you know, it has not turned around quickly and that's what's weighing on voters

and meaning that obama has a tough road. but i think clinton really made the right case for him. they did the right things. the economy is coming back and taking longer than anyone would have liked and not because he did the wrong things but the economy was very damaged. we lost trillions of dollars worth of wealth in this decline. >> but, martin, people permanently left the workforce. they have given up, given up hope on finding a job. >> well, inevitably with a long, deep recession like the one we have, you have people that leave the labor force and we had them in '82, as well. i think if we can get the economy going again, remember we're also in the middle of a global downturn and not helped by europe at all. >> right. >> then people will come back in to the workforce and see the opportunity. as clinton said, we're not there yet. >> like -- like jack bauer used to say on "24" we're running out

of time. this is a very slow recovery. just to give you an aspect. we have this, you know, human number of people un'em loied, underemployed and then that's super productive u.s. workforce is a wasting asset. people out of work, the skills erode and raises the chance with permanently higher unemployment in the country and great to say let's be patient. i don't think we should be patient. >> all right. >> well, i don't think we can solve that problem doing what romney and his economic plan is pretty vague. says he'll cut taxes more but i don't think he's doing the things or proposing the things that would actually turn that around. >> i'm not sure what the president is proposing. >> i want to invite you back soon. i'd like to debate structural unemployment and consumption of cheap goods pushing down manufacturing goods and people are paid less because nobody wants to pay more for anything in this country anymore but that's for another day. can we save that? >> fantastic.

>> nice to talk to you. >> jimmy, put your mustache on. nice to see you. don't miss the coverage of the dnc and president obama's speech. i'll be here at 8:00. all the reaction, head leans and analysis. but remain onge this fine program, the rx stock under the weather in today's sea of green. something is down. and it is mystery chart time once again. here are your hints. a dow 30 stock. it's up 60% in the last 10 years. that's its chart. tweet me what you think it is. you got two minutes. get on it.

how do you know which ones to follow? the equity summary score consolidates the ratings of up to 10 independent research providers into a single score that's weighted based on how accurate they've been in the past. i'm howard spielberg of fidelity investments. the equity summary score is one more innovative reason serious investors are choosing fidelity. get 200 free trades today and explore your next investing idea. exclusive to the military, and commitment is not limited to one's military oath. the same set of values that drive our nation's military are the ones we used to build usaa bank. with our award winning apps that allow you to transfer funds, pay bills or manage your finances anywhere, anytime. so that wherever your duty takes you,

usaa bank goes with you. visit us online to learn what makes our bank so different. ♪ ♪ ♪ [ male announcer ] introducing a reason...to look twice. introducing a stunning work of technology --

the entirely new lexus es. and the first-ever es hybrid. this is the pursuit of perfection. welcome back to "street signs." brian shactman. look at verizon. take a look at an intraday chart. up sharply and then went negative and inching back. announcement dividend hike just a little bit by 3% and initially, of course, a dividend yielder at 4.6% and maybe the street disappointed in the size of the dividend hike, brian. the shares gained about 10% year to date and keeping the dividend going they need to hike the yield. >> thank you very much. mystery chart answer time. the hints we gave you before the

break, it's a dow stock. made it easy. up 60% in the past 10 years and looked like that. jpmorgan chase. that is it. recently over the whales losses, jpm has been actually a relatively powerhouse and although most of the gains back a number of years ago. year to date, up about 16%. not quite recoverying to the 2012 highs before the disclosure of the multibillion dollar trading losses but impressive nonetheless. among the leaders. the nasdaq and s&p with similar 2% gains. there you go. back to november 2000 highs, by the way, folks, on the nasdaq. up next, it is "street talk." the man cave rally edition. talk ing suits and power tools and then herb will be back for a stock watch list for the fall. a red flag on a new name. you want to hear herb's hit list coming up.

bob...

oh, hey alex. just picking up some, brochures, posters copies of my acceptance speech. great! it's always good to have a backup plan, in case i get hit by a meteor. wow, your hair looks great. didn't realize they did photoshop here. hey, good call on those mugs. can't let 'em see what you're drinking. you know, i'm glad we're both running a nice, clean race. no need to get nasty. here's your "honk if you had an affair with taylor" yard sign. looks good. [ male announcer ] fedex office. now save 50% on banners.

all right. "street talk" time and mandy purchased another day off from

the commentary. herb will be here in a second. men's wearhouse up today. huge jump on earnings and guidance. tuxedo business is strong. people getting married again. full-year revised higher. people buying more suits to go back to work or interview. moves pushing the stocks higher for the year. next up, verifone system and wiping out the gains for the year and sales rose 55%. a number most companies love to have. that's still missed the consensus forecast and guided on sales below consensus. recently a brazilian unit destroyed by a fire. 33 to 38 and valuation down. pe only down to 11. a vote of confidence of activision blizzard and apparently the new games. analyst at piper jaffry

upgrading. at least three big new releases this fall and herb's favorite world of warcraft. he's a 17th level wizard from what i understand. jeffries initiating coverage with a buy. stock still down year to date. video game sales pretty awful. before we get to herb, quickly, an upgrade for stanley. black and decker. morgan stanley upping it with the price target of 76, a little under 5 bucks in upside left in the name. they like the stanley free cash flow story and say it's leveraged to any recovery in the u.s. construction business and notes that it discounts or trades at a discounts to its piers. now herb. navistar. a favorite. a name you have warned the viewers on time after time up.

>> back all the way to where it was two weeks ago. >> that's right. not picking on you. >> it is interesting. the company reported the results. they're taking a whole company, reassessing everything. going to take a look at all noncore assets. laying some people off. doing what they have to do to preserve and raise cash but i have to tell you something interesting. the street gives the new ceo all the time to try to figure it out and take from 1 to 18 months and said on the call that intrigued me. people trying to figure it out. he says we'll be doing a lot of blocking and tackling and not a hail mary pass. that's interesting for a ceo to say. >> what does it mean? >> takes time. >> he's looking at all the incometemehe different divisions and say, unfortunately, you know, lay these people off. divest this. >> look. i think that he says 12 to 18

months. we hear these things. the market likes to hear that. how about 24 months or longer in. >> stick around. if you're away, you have catching up to do. herb has a basket of stocks on the radar months ago and we have a new list. some familiar names creeping back in to headlines and herb, i want to begin with a new name on one of your watch lists for this fall. what is it? >> this is mohawk industries. they make flooring, carpeting, you know, tile. >> boring company for you dig in to. >> it is such an unsexy company as i mentioned something on cnbc.com. this is a classic earnings quality story. people don't like it but take a lock at the stock up over 60% over the past year. trades at 70% or thereabouts of the bubble high. >> sounds like great news. >> it is but look at something else. sales of the company are skinny. you take a look at sales skinny. earnings soaring.

makes you want the look at the earnings quality. you look at how the company is getting the earnings so strong. look at things like bad debt reserves being lowered. look at expenses rising. all sorts of things. they might raise questions. by the way, the company also said commercial residential sales are slowing. >> graham, dodd and greenberg. i like it. watch it out when sales aren't rising but profits are. that's balance sheet stuff. moving it around. >> classic -- >> all right. next name. duncan brands. i know you've been critical of the expansion plans. why on your watch list for the fall? >> you have to continue to watch this because, look. we talked about it back in march. there was a problem with the company not disclosing a backlog of new stores because this is an expansion story. you want the know how the growth is going to be. the reality here is the company

is -- comp store sales, terrible. over the last quarter. >> and from beans to nuts -- >> i just want to say one more thing. very quickly. k cups, very big part of this story. that's what the company focused on and to the big whole story and watch green mountain. k cups are watching price compression. that's an issue. all right. >> okay. and i want to give you appropriate props here and from beans to nuts because diamond foods and spectacularly right on months ago is off the headlines for a few months. back on your watch list. >> watch this thing. where's the forensic review? everybody's waiting for the board's forensic review. the auditors are involved. taking a listening time. you wonder when's taking so long? when we were talking about just the wrong, you know, using walnut growers not getting the money due and off for a year or so. you know, it just seemed -- >> the point is where you been?

where's the results and -- >> something's coming. that's what people want to see. >> okay. >> either a value stock or trap. a list so long i won't even -- >> big three for the fall. now back to julia at the amazon event. julia? >> reporter: getting the details of the kindle fire hd. it's bigger. there's a front-facing camera. way if i and bezos says is 41% faster than the new ipod. 25% less glare. more storage and memory. dual stereo speakers and so better sound and x-ray of movies to tap the screen and find out about the actors and characters. there's interaction and facebook and skype built custom apps and bezos says a good microsoft exchange integration and starts at 16 gigs. one piece of information we don't know yet is how much it costs. waiting for that nice final

detail. back over to you. >> thank you. and coming up, a big debate over nokia and microsoft and as i warned you smartphones and underwear. in one story. cool actually. stick around. [ male announcer ] what if you had thermal night-vision goggles, like in a special ops mission? you'd spot movement, gather intelligence with minimal collateral damage.

but rather than neutralizing enemies in their sleep, you'd be targeting stocks to trade. well, that's what trade architect's heat maps do. they make you a trading assassin. trade architect. td ameritrade's empowering web-based trading platform. trade commission-free for 60 days, and we'll throw in up to $600 when you open an account. one is for a clean, wedomestic energy future that puts us in control. our abundant natural gas is already saving us money, producing cleaner electricity, putting us to work here in america and supporting wind and solar. though all energy development comes with some risk, we're committed to safely and responsibly producing natural gas. it's not a dream.

america's natural gas... putting us in control of our energy future, now.

i'm bill griffith. coming up on "closing bell" should you buy in to the big rally today? we'll talk with investing legend jack bogle. you won't want to miss what he thinks about this rally. google's chief business officer with us today. we'll talk about everything from the possible patent battle with ap toll the new tablet and answer to iphone 5. amazon is seeing a sales spike in california ready to begin collecting sales tax there. will that new tax take a bite out of amazon's bottom line as they're introducing new fire and new kindle. we'll look at that coming up. michele is here to explain the abcs of the ecb seeing you at the top of the hour. brian? >> thank you very much. very quickly, folks, i might

be right about the amazon blimp. look at that. a giant curtain over a giant building looks set to drop. new video. julia boorstin's head popping up in to the picture. more when they drop that curtain. hey, you never know. all right. you can toss your phone charg chargers, folks. researchers at wake forest university have new technology to turn your body heat in to power. let's bring in professor david carroll. his team invented the powerful fabric. this is one of the coolest things i have seen in a long time. i was joking about the undyes. how does the product work? >> well, it converts your body heat in to electricity. you heat the fabric up and causes the electrons to move around and creates a voltage and hook it up to your phone. >> so, am i putting it in my pocket? do i stick to my -- >> i have an example. >> let's do it.

>> here. >> this is power felt. this is the material here. someone has accidentally cut it in the emblem of the university and you wear it. the shirt has a connector here and goes in to an apple product. you can put any kind of connect kor on it. and run around the track or whatever you do and charges the phone. >> it is amazing how the logo thing just happened, professor. >> i know. >> if i was in better shape, run four or five hours and i can't go for a jog now because i need the music and almost dead. that solves that problem. >> that's exactly right. that's what that does. it will give you a couple of hours worth of talking time for ten, 15 hours worth of jogging to you can kind of extrapolate from that. you're at for instance at the airport. you land. your phone's dead. you need to call someone for a ride. hold on to this and it's enough

power for a phone call. >> what's going to buy it? >> major manufacturers of sporting goods first. we have had mainly sporting goods people talking to us. there are a couple of military types of manufacturers of clothing. but it's mainly the sporting good people. >> all right. professor, thank you very much. cool product. great to see a fellow acc guy do well. thank you for joining us. >> thank you so much for having me. >> all right. sure thing. let's go back out to julia at the amazon event and the mis're you giant curtain. >> reporter: we finally have the pricing, brian. the 7-inch 16-gig kindle fire hd $199. that will ship on september 14th. the 8.9-inch version and 16 gigs $299. that will ship on november 20th. bezos answering the question about how kindle can afford to do this.

they'll make money when people use the devices and not when they buy them. back over to you. >> thank you very much. well, coming up next, the flurry of new phones from nokia. what happens when you roll out a phone and your stock tanks? should happens when you roll oua phone and your stock a tanks? ♪ ♪ i can do anything ♪ i can do anything today ♪ i can go anywhere ♪ i can go anywhere today ♪ la la la la la la la [ male announcer ] dow solutions help millions of people by helping to make gluten free bread that doesn't taste gluten free. together, the elements of science and the human element can solve anything. solutionism. the new optimism.

we create easy-to-use, powerful trading tools for all. look at these streaming charts! they're totally customizable and they let you visualize what might happen next. that's genius! we knew you needed a platform that could really help you elevate your trading. so we built it. chances of making this? it's a lot easier to find out if a trade is potentially profitable. just use our trade & probability calculator and there it is. for all the reasons you trade options - from income to risk management to diversification - you'll have the tools to get it done. strategies. chains. positions. we put 'em all on one screen! could we make placing a trade any easier? mmmm...could we? around here, options are everything. yes mom, i'll place a long call to you tomorrow. i promise. open an account today and get a free 13-month eibd™ subscription when you call 1-888-280-0154 now. optionsxpress by charles schwab.

all right, nokia up 4.8%, but down 9% before though. is it time to hang up on this mobile phone maker? let us bring in rocky, one of your tweets got us talking today, what did people answer? >> people said take the bullet, i would stay away from either

stock but i would take nokia if i had to. phone companies are not going anywhere. >> some people said you choose -- they're being facetious, who do you see as having a brighter future, really? >> i think nokia has the brighter future, they have microsoft as their sugar daddy and they have shown they will throw billions at a problem. and they will keep at it and every give up, so having micro soft on your side is a good thing, and they have a phone that's pretty good. for the principal hardware, it's a beautiful device. windows as an operating system just doesn't have the as. >> i think you called microsoft a sugar daddy, how long does that last? how much money with they throw at this? >> i this micro solve will throw

billions at this. they want to win in mobile. they have shownpropensity to do it in the past. i think this is a very hard task for them. >> we have to leave it there. rocky, we'll see you soon. kayla tausche with news on gm. >> they tapped a new investment officer. we know the cio because it became notorious for being where the multibillion dollar london wale losses took place. he called the losses a unique incident. he said the risk will be dialled back substantially going forward. it was a $360 billion portfolio.

so, now that craig has tighter reigns to hold, a $325 billion portfol portfolio. they're investing in assets with a average credit rating of aa plus. and he went on to say "our strategy is identical to what is articulated." he reiterated he wanted a borning job. a lot of people would ar if you're investing in just treasuries today -- >> we'll tease it anyway, closing bell, we should talk more about this. >> fantastic. thank you. how today's rally got a christina aguilera song in our head. bob...

oh, hey alex. just picking up some, brochures, posters copies of my acceptance speech. great! it's always good to have a backup plan, in case i get hit by a meteor. wow, your hair looks great. didn't realize they did photoshop here. hey, good call on those mugs. can't let 'em see what you're drinking. you know, i'm glad we're both running a nice, clean race. no need to get nasty. here's your "honk if you had an affair with taylor" yard sign. looks good. [ male announcer ] fedex office. now save 50% on banners.

>> well the nasdaq on chose for the highest close in nearly two years. the year that chis tristina agua was on the top of the charts with "what a girl wants." they