pulte group, applied materials, hewlett-packard and home depot all in the green. pulti, despite the rise in interest rates, up 2%. >> right-oh, sue. see you when you get back to headquarters. that a wonderful weekend. that will do it for this edition of "power lunch." >> all right. "street signs" begins right now. have a great weekend. >> and what a week it's been. the dow doing its darnedest to avoid the worst week of the year and gold glittering through the red on the screen hitting its highest in two months, while apple is having its best week in almost two years. got our market all stars. they will dig in. social stocks going viral. what's behind all the summer loving for this sector? plus, robert frank. you're my hero for bringing us the story that's getting the stamp of approval. and move over cronut. "street signs" is serving up the next big food thing, the ramen

burger. hello, everybody and happy friday. first up, let's take a look at the markets. the dow and s&p were trying to avoid their eighth down session. along with the dow, it looks like it will be the worst week of the year for the s&p 500. as we mentioned, the nasdaq nonetheless just holding its head slightly above water. let's get down to the trading floors and find out more about what's going on with this market. bob pisani at the nyc and rick santelli in chicago and sharon epperson over at the nymex. people are obviously trying to work out just how high we go and how fast, rick. >> yeah. i'll tell you what, and not only do they keep moving up, they are moving up in what i would deem a very orderly way. if you look at an intraday of tens, up about ten basis points on the day. you look at a one-week chart of the 30-year bornd, it's up about

24 basis points where the tens are up about 27. if you open the charts up a bit, what's fascinating is on a career-to-date basis, look at the chart both at two-year highs. ten-year is now up 110 basis point on the year, and there has been a lot of steepening between 2s and 10s and 5s and 10s and the 30 year, even though it's up 93 basis points on the year, it has underperformed a bit which makes the 10s versus 30s a completely different trade than the rest of the curve. one thing is for sure, if you want to refi, hurry up and do it now. >> get off the fence. get off the fence. thanks very much, rick. bob pisani, less than two hours now left in what's been a pretty bumpy week. how are traders making the most of this time? >> they are sitting there watching the pressing movement with stocks moving down as bond yields move to their highs but something else has happened in the middle of the day. that's very important. put up the s&p, in addition to the pressure from the ten-year yields moving up, about 1:00,

right about here, we saw what happened when you pierce your 50-day moving average so about 1657 was the 15-day moving average average roughly on the s&p. looks like it broke down around 1:00 and that's one of the reasons why the market took a leg down. does it matter, technicals? yes. in this situation that does matter very much. very widely watched. elsewhere, as rick showed you, the yields on the ten-year moving up and that's obviously the biggest influence. i don't guess what's going on to a certain extent. acting like there's imminent aggressive taper going on. i saw industrial production, saw housing starts, heck, i'm pleased the home builders are rallying for a second day in a row. mandy, 2.2% decline in single family housing starts. that's a series you look at, not multi-family, that's not great news overall. i'm in the bullard camp, arguing for a taper light basically saying they should go slow on the tapering. economic news this week, to me, go slow on tapering is the way

to go right now. >> and we're going to dig into the housing sector in more detail in just a second, but meantime, sharon epperson, you've got the glitter patch, all the gold bugs and silver bugs licking their wounds earlier on this year feeling vindicated. >> certainly are, and some are calling going long gold for sure the next four to five weeks and see a possible run to 1,400. with the downturn here in the stock market going even lower, we're looking at gold prices near the highs of the session. we are at a two-month high and perhaps some would say if they do believe gold is going higher, 1,400 has to be the best way to go. looking at gains in the silver market because silver had a huge gain of about 7%. yesterday up another 1.5% today and silver has been a very strong performer as well here in the precious metals space. silver is having its best week since 2008, and gold is having its second best week actually of the year. >> thank you very much.

shepperson. as we mentioned, the dow is trying to avoid, not very successfully, trying to avoid its worst week of the year. is this a buying opportunity, or is it the beginning of a greater market correction? thank you both for joining our show. gina, let me start with you, first of all. should people have been using this past week to buy or to sell? >> i think it's a little early to kind of try to chase this rally. i think after the 20% gain we saw through the early part of august, it's a good time to take a pause, maybe reset and allow the market to go through its natural corrective processes and allow the august and september sort of seasonality to weigh on the market and then reassess where we are after we get through the first fed tapering. >> so you say it's a natural corrective process. in other words, nothing you see out there is worrying you right now, gina? >> not so far.

we've been worried all year about earnings. are a little bit worried about multiples and how they may react to fed tapering. so far this is a modest correction so it's not necessarily a reason to panic. i also don't think there's any real compelling reason to chase the rally that we've had so far this year so i think you kind of take a step back and watch the market action proceed over the next few weeks and then reassess. >> seems like a lot of people are taking a step back because the volume is very low right now. i'm going ask the same question to you. buying or selling right now? >> in the near term i think we've got probably more weakness. let's never forget that for the last 75 years stocks averaged a 10% correction once a year. we had about two of them last year. we'd had a very strong run for the last nine months off of the october 15th lows of last year, and then i would add last that this is the first time since 1999 that stocks are up still year to date, 18%. most traditional bonds are down

2% to 3%. we haven't seen that type of separation between the two asset classes and especially where traditional bonds are negative, and when we get that type of separation the pause is a likely case. that's still unfolding and having said that longer term there's still the compelling features for stocks for the longer-term investor, it's still well in place. valuation, cash flow generation and cash flow margins. not net margin profits. 16% to 18% return on equities, that's a good backdrop despite the near term august and even september turbulence. >> okay. both of you have given very measured answers, and both of you are basically saying don't panic right now, but i can't help but noticing as i'm sure our viewers have as well various headlines out there in the blogosphere and others saying a big crash is coming. i hate seeing things like that because it tends to scare and

panic people. here's a tweet from someone who knows a thing or two. bill gross from pimco. we've met the enemy and he is us. i say all asset markets are peaking. without central bank check writing we have only ourselves to sell to. what do you make of that tweet, gina, and do you agree or disagree? >> it does seem like most asset classes have suffered quite a bit this summer. one thing we noted a couple weeks ago is that u.s. equities were pretty much standing alone in their surge to new highs in early august where bond markets did not confirm the international equity markets did not confirm. commodity prices still kind of skittish so it does seem like we have a fairly weak environment which is why we're saying don't chase this rally. you don't have a reason to panic just yet. if the price action continues to get dismantled over the next few weeks then you probably have a more compelling case to sell. you don't really chase this rally when there's so many signals suggesting we're on

relatively weak footing for the near term. >> where would you be investing? when things get a little calmer, where would you be investing? >> sure. i'd be investing still in small and mid-cap stocks to complement the large-cap portfolios. it's the infrastructure structure still unfolding, houses, autos, pockets of technology and your comment on bill gross and pimco, remind me of when i was in college my professor used to say to me wrong but in an interesting way. i think he's right on a government revenue expenditure approach but from a new normal in stocks, it's not 5%, it's been anything but 5%. it's more like 8%, maybe as high as 9% in stocks, and what other asset class has the potential to give you that kind of rate of return in. >> thank you for joining us and enjoy your weekend. >> thank you. >> coming up next on "street signs," are rising rates putting the brakes on housing hopium?

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happening now. you're looking at live pictures coming in from cairo, egypt, where the situation has become very tense. this is ramses square, very dark out there and hard to tell. if you're familiar with cairo, that's the main train station area. officials saying minutes ago the death toll has climbed to 60 in today's day of rage being called by supporters that are loyal to the former president mohamed morsi. that is on top of at least 600 killed since wednesday. the military has been instructed to use deadly force, if needed. as you can imagine we're monitoring that situation very closely, and we will bring you any more breaking news as indeed it happens. back to business news where housing starts are posting another increase today. up nearly 6% last month. well, that number though driven largely by apartment construction as growth in single family home building has slowed down. our own diana olick is here to break it all down for us. diana, what does that mean? >> first, mandy, i do want to get to what's happening with

mortgage rates just today. i was speaking to next on the ground at "mortgage news daily" and they tell meet rate on the 30-year fixed has climbed to 4.75% and freddie mac has it at 4.4% yesterday. that tells us where the spike it going and i spoke to a home builder and the ceo of tri-point homes out in california today. they reported pretty good earnings this week, and they had -- they say they are buying up land fast but rising rates could cut into their prices. now, this rate news comes on top of rather lackluster housing starts. single family housing starts were down month to month. 2.2%. still up 15% from a year ago. multi-family starts, apartments, a much more volatile number, were up 25.5% and over 33% from over a year ago. there's nothing wrong with apartment construction but that's the driver of the big headline number. more concerning was the single family permits were down month to month for only second time in 16 months. they were down in three out of

four regions so it wasn't one area of weakness. builders are clearly not meeting the demand out there, and that means that inventories are going to continue to shrink which should mean home prices are continuing to rise, but for these rising interest rates that i just spoke about, they could really cut into that pricing power for the home billers going forward. mandy? >> let's pick up from there, diana, because we want to know how much the rising rates are to blame for the market woes. how much do you think rising rates are to blame? >> i think they are a part of the problem and the other part is we've seen a lackluster housing market. residual housing rates will be affecting home buying in the next two months, as diana knows so it's more worrisome going forward and less reflective of what it's been and, unfortunately, the fact that the housing market, especially the single-family market has not taken off has large repercuss n repercussions for the broad economy. larger reconstruction planned in

the construction materials industry which has been idle since 2007 and we need to see a million in and out month in and month out for them to reopen the idle plants, the manufacturers to open that so the virtuous cycle in housing, not only construction housing where you get the bang for the dollar in the single family but all the construction and manufacturing industry as well, and we're just not seeing it right now. >> how much of a worry is it for the fed or how much of a dilemma that the single-family housing starts fell back? >> it was a mea culpa of the fed and worries about fed tapering that have cbs rates rise and certainly a major concern among doves at the fed. this will be a lot of ammunition going into that september meeting. i still think we won't stop tapering but, you know, gradual is the word. they have to define grad all and i think they will see a lot of gradual in the fed's messaging of how to keep the rates lochte the one thing we've not seen the fed do in the toolbox, 2002, the

road map for what bernanke laid out, including quantitative easing, was back in 2002 he said the fed could go so far as to put a ceiling on long-term bond rates, and that's not what we've seen yet but i think that's interesting. >> that is interesting. i've got another questioning for you because there was an interesting report out from goldman sachs saying more than half of the homes this year as last year as well were all cash, didn't use a mortgage at alling right, so in which case, to what extent are the rising rates no longer as important as they were pre-crisis when only 20% i think were all cash. >> there's two issues there and it's a double-edged st. john's wort. cash buyers have been making up for the lack offers-time buyers, and that's related to the mortgage rates and the ability to put 20% down and the overhang of student loan debt and all of that is making and taking u.s.

buyers out of market. you don't put as much into a rental as you would a home you're going to sell and the other issue, and this is very important, the cash buyers were out there troving for deals and those deals are going to weigh as the distress sales fall out of the market and we don't have as many foreclosures for them to flip so this is something i really worry about going forward is where is the self-sustaining momentum going to come from in the housing market particularly if you cut more first time buyers out? >> good point, diana. thanks for explaining it all to us. checking in on social media. stocks are soaring but is facebook giving you promo and cars, cars, cars, fast ones, expensive ones and famous ones. do not want to miss. calling it car porn here. "street signs" is back after the break. follow us on twitter, i'm @sullycnbc. >> and i'm @mandycnbc and more ways to stay in touch, us like

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the markets today were holding their heads above wart earlier on. not even the case. even the nasdaq is slightly to the downside. around the low of the day, 47 points on the downside. the dow is now 2.37% to be exact over the past week. well, welcome back, everybody. let's take a look at what internet stocks are up to because they have been on fire. take a look at pandora, for example, up more than 110% this year, and today trading at its highest level since its ipo two years ago. it's not just pandora that's soaring. social media stocks are booming. let's get to julia boorstin to break it all down for us. julia, what's behind it? >> well, i have to say august has been really a sizzling hot month for a number of social media stocks. now, a number of these companies are moving higher object heels of better than expected earnings results, linkedin 12% gains over the next month better than its earnings and monday the stock hit an all-time high after an analyst upgraded its rating to

buy after unexpected and exploited growth opportunity. groupon has benefited, not just from inline earnings and signs that its new local strategy is working, but perhaps most important was the news that its interim crowe ceo is taking on the ceo role permanently and viacom is up 7% this month after reporting a 20% gain in net income on its earnings on august 2nd and news of another $2 billion stock buyback. the real loser of the month has already been a social stock. zynga. continuing its fall since the end of july when it announced weaker outlook and news that it's no longer pursuing online gambling in the u.s. now, facebook, we haven't mentioned yet because it wasn't a big mover. stocks up 1% in august but the stock is up 40% since its better than expected earnings on july 24th. now, fook is less than $1 a way from its ipo price after hitting it earlier in august. we'll have to see when it gets

back up there again. mandy? >> time to stop looking facebook, julia. may be making us sad. that's what a new study anyway. the more you use facebook the unhappier you'll be. the more they get on facebook the worse they feel immediately afterwards. chock it up to friends and acquaintances who are braggards, some out in the bahamas on a beach, i can totally understand that. it's fomo, fear of missing out. >> i disagree. seeing that my friends are having fun makes me happy. i think that this is one of these studies that doesn't sound all too scientific, and it's very hard when people report on their behavior. i mean, i think with facebook, remember when people said they were use facebook less and then the numbers showed that tonight opposite of what was actually happening. i can't imagine 1.1 billion people would be use facebook if it made them feel terrible.

>> i don't know. we're all -- we sometimes have addictive behavior that's not necessarily good for us. facebook is not making our next guest sad. indeed, it is his favorite social stock so let's bring in the founder of the social internet fund. lou, great to have you with us. i was taking a look at some of the performances of the names like groupon, zynga, linkedin, yelp. to what degree were facebook's a tipping point towards the sentiment towards the sector? >> undoubtedly a big tipping point. a big question mark in a lot of investors' minds about facebook's ability to move the users to mobile and then to monetize them once they were on mobile, and facebook showed that they can do that in a big way. they are driving tremendous revenue on mobile and driving a lot of money from application downloads, and i think investors now really need to own. it's a $90 billion stock. facebook has really become a must-own stock and also highlighted a lot of the other

social media stocks. >> indeed your favorite stock in the sector. sorry, julia, jump in. >> i was going to ask you about the $38 resistance point for facebook. talking to a lot of analysts who say the reason the stock is stuck right blow $38. what will it take for them to grow past its ipo price and bring the rest of the sector with it in. >> they have to continue to execute like they have been executed. they are continuing to roll out new products. they will start a payment system so people will be able to pay with facebook. their it issing products are still very, very early and as they get better and better more interestsers will spend more money. >> why do you think yelp is the most vulnerable of this group? >> i think companies like facebook and even, you know, the bigger company yoogle are really setting their sights on local and yelp hasn't had a lot of competition to date and i think

the competition will get fierce. >> had an incredible run. 152% year to date. i want to also ask would you be a buyer of a twitter ipo? >> i think twitter will be a phenomenal i'mio. moved up a lot in the private markets on the back of facebook's earnings, and what we're seeing again is that twitter is growing their audience, and they are really starting to monetize their audience in a big way so i think it will be a successful ipo. >> zynga i think is down 4% over the past year or so. can that pull its head up above water? >> i think zing race, will have a lot of problem. the world is moving to mobile and they have not shown the ability to build mobile games that people like and want to continue to use and that's a challenge that they have and it's not an easy one. >> i do apologize, dunn over by 4% and career to date it's starting to come back. thanks so much for joining us and thanks also to julia boorstin. coming up next on "street signs," we are fly fishing and jet issing. yeah, the swanky sporty edition

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okay. "street talk" time and i've got a special person, the newest face on cnbc. >> so great to be here. >> everyone has a nickname on "street signs" and i think yours will be the dominator but i'm open up to suggestions. joseph a. bank forecasting second-quarter profits below expectations. what do we make of this stock? >> it's interesting because when you hear about joseph a. bank it's all about how many suits you get when you buy just one. it calls into question the mar egyptian, how much money can they possibly make? some. aggressive promotional marketing campaigns may not be working out quite so well for joseph a. banks. one to watch. that stock is down. >> only up 1% over the past year so vast i underperforming the market. alcoa downgraded to underperform at bank of america and merrill lynch. >> it's all about whether or not aluminum prices will hold up. they have been dropping and in the steady decline for a while, and ultimately alcoa is an

aluminum maker. produced this stuff. if you can't sell it for as much it will weigh on the results and you can't even talk about the whole idea of this lawsuit or this allegation that they are possibly holding down aluminum prices with the certain warehouse establishments. certainly something to watch. >> jetblue and raymond james is upgrading this one to market perform. this is a sector we've been watching very closely this reason for many reasons. >> if you live in the washington, d.c. area because american has great hubs at reagan national, whether or not they emerge with u.s. airways or not, raymond james says it could be an interesting scenario developing. if the merger actually doesn't happen, maybe it becomes a takeover target for the likes of american, but if it does happen jetblue get the long sought after spots at a hub like reagan international. >> an agreement with british airways as well. >> a lot of agreements in place. jetblue very good on the east coast. could be a nice piece for people looking to expand.

>> dick's sporting goods being removed from jr. pm's focus list. its third-quarter earnings reported next tuesday. >> this is interesting for dick's. talking about retailers, specialty ones, cat lifts throughout the year, back-to-school, the christmas shopping season and if you have an item like dick's and they can't meet their results or people turn negative that says a lot about the consumer. very discretionary spending. you don't go out there and buy food, yes, you do, but you don't go out and buy soccer balls, and uniforms. >> and the weather comes into play. >> and that could be a big deal for these particular retailers because it does weigh on going out there and buying a new set of cleats or sports or anything like that. >> a big deal and also deal brinker. they are not alone. seen a lot of price targets for

this company. >> priceline is a juggernaut, a stock on a tear for quite some time but not all travel stocks or sites are treated equally. priceline has really been a standout in attorney parts of the in markets. a lot of ref mousse come from outside the u.s., including europe. her doing well and analysts do think that this could be a stock going higher and, of course, this is a retail story as well, right? the consumer spending picture. people don't travel unless they have the money to do so. at least not on priceline. >> and if they do travel they want to do it at a lower price point and that's where this kind of site comes in. thanks so much for joining us. great debut. going to get you back on again, the dominator, folks. okay. let's start talking food. packaged food stocks have been on a tear since the start of the year but are they getting overvalued? began mills downgraded today so joining us now is the analyst who made the call and joining here on set. >> i'm going to get my kids to

eat we areos a whole lot more now to get the stock back up in your eyes. why the downgrade? >> the downgrade for a few minutes. the stocks are expensive and we look at marketing spending accoun accounts across the food space. weaker volume outlock, weaker overall consumer outlook. walmart talked about it and department stores talked about it, a weaker outlook and stocks that trade at a 14-year high over ebitda multiple there was too much. >> which other companies in the space in the packaged food company space are you talking about in particular? >> so, in the note i published, two other companies that stood out, kellogg is one of them and smumers this the other company that stood up.

kellogg is not as expensive and smuckers has already started about wanting to increase marketing and spending going forward so they are reversing some of these cut backs and what's unique about this is year to date they have done really well. >> right? those two supports are starting to feed so the more expensive the stock the more pressure there's. >> take a look at conagra, a rating of buy. for those who may not know. this is like brand swiss miss, chef boyardee, banquet frozen dinners. >> it stands out as a buy because it's bigger than all the other packaged food plans. they just bought a private label food-maker that gets synergies

covent side and accelerates the growth and with that one of the fastest growing names. might package duck university. >> why the fed says not much influence out there and we think hang on my grocery still teams to get higher. at pom ninth this is inflation, and can they pass it on to the consumer? >> they do pass it on. the fed talks about they like to exclude food because it's very volatile because of the input costs. some of the input costs of grain, corn and wheat they are down year over year. that's positive for the companies. however, one of the biggest import costs for the companies is energy and that's still up career over year. the companies need to cook the food and package it in plastic derived from natural gas, ship it to the store that takes diesel fuel so energy is a much

bigger component of the input costs than grains. >>-degree. >> and inflation is it still a component -- not as bad as it was two years ago but a still working its way through the system. >> coming, the ultimate dude lineup, fast cars and the juicy burger and marisa mayer glamming it up. bill griffith, what's going on on "closing bell"? >> you say the nicest things, mandy. he's been a huge bull during the rally so why is ralph acampora declaring himself now a bear? we'll ask him about that and apple has regained its shine this week. we'll hear from somebody who says this stock's rally is just getting started, and then it's our favorite story of the week. video you will not believe when you see it. all that and more as maria has

summer out on the street and i'm inside the new york stock exchange holdi ining the fort d. we'll see you at the top of the hour on "closing bell." stay tuned. what it's carrying, while using less fuel. delivering whatever the world needs, when it needs it. ♪ after all, what's the point of talking if you don't have something important to say? ♪ so you want to drive more safely? of smart. if you don't have something important to say? stop eating. take deep breaths. avoid bad weather. [ whispers ] get eight hours. ♪ [ shouts over music ] turn it down! and, of course, talk to farmers. hi. hi. ♪ we are farmers bum - pa - dum, bum - bum - bum - bum ♪ but when it comes to investing, i just think it's better to work with someone. someone you feel you can really partner with.

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boy, what a week it's been for this stock. let's get jon fortt. who are people making this, back to the 500 mark, jon? >> yeah, mandy. the crazy thing is that the stock moved on very little product news. a rumored date for apple's next iphone event september 10th but that's when we expected it anyway. last year it was september 12th. the bulk of the move was, of course, tuesday from those carl icahn tweets pushing for bigger some buybacks and at the moment shares are hanging in there, just about 500 bucks. share are up about 100 bucks since the beginning of july and you know what this is really about? the buzz i'm hearing out here, the idea that investor sentiment might be turning back in apple's favor. might be catching a break.

>> hearing about apple may be launching a usb adaptive trading program? heard anything about that? >> yeah. this is after that incident out in china where the claim was that a woman was electrocuted using an iphone connected to a charger. apple's response was we don't know where she got that charger from, and it's going to be hard to trace its origins. partly to deal with that issue and any others like it that might arise they say bring in your charger no matter where you got it, from even if you think it's real. for 10 bucks we'll give you a new run that for sure is real. a lot of times people are buying knockoff phones or chargers that are being represented as the real thing. you can't tell from the outside. this way people can be sure they have got the right one. >> good to know because i want to get your take on this. marisa mayer profiled in the september edition of "vogue" mag scene. she's described as the ceo of the moment but also as an unusually stylish geek. now in the article she also hint at her vision of the future,

e-mail, maps, weather, news, stock quotes, share photo, group communications, sports scores, games, you're listening what people do on their mobile phones and it sounds a lot like yahoo! does. maybe it undermines her serious ceo image. i beg to differ. i think it shows she can be a successful ceo, a strong woman and a beautiful woman as well so good for her, i say. >> there aren't a lot of ceos who have the option of doing a "vogue" cover. first ladies do it now. i'm seeing some taking heat on twitter putting so much so much focus on her self-. look, here's what i think. the stock is doing pretty well. if you're doing a "vogue" cover like now is the time to do it. "vogue" core demographic is also the demographic that yahoo! wants, and if you read the piece, it's a pretty serious piece about yahoo!'s business and about her as a businesswoman. it seems to me like the glamour photo is just the price of admission. >> just put all these images of

sharious ceos that shall remain unnamed, various ceos that maybe shouldn't do spreads -- could do spreads. >> i can't think of one who should, one. >> still ahead, on that note, we are the show that first brought you the cronut. remember? we also brought you the crookie and wait until you see what we're cooking up for you today. plus, remember this? perhaps the most cringeworthy scene in move history, but as we sit here on "street signs," everything's fine. we're going to explain, and then there's this. it's the ramen burger, and it is the next big thing in food. we are sinking oureth into it, all of them, next.

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welcome back, everybody. buckle up, because the next five minutes of the show is total car porn. first of all to phil lebeau. a lot of buzz over an old american classic, right? >> yeah. a lot of buzz, mandy, and we're going to continue to see that over the next couple of months because the new chevy corvette, the 2014 stingray, which is the seventh generation, it is just starting to roll into show rooms. really won't see it over the next couple of months but it goes on sale next month. the seventh generation corvette stingray will start at just under $52,000. it's always been that the vet gives you more bang for your buck than other sports car. that said, sales have really started to slow down. starting in 2006 you saw the big drop-off with the recession. last year just over 14,000 were sold. the question now is whether or not the buzz that sounds the stingray, is it going to be enough to get people excited

about corvette again? is it a halo car for general motors? now, it does include upgraded interiors. definitely needed, because the old interiors were a joke and many people said that was one of the problems with the corvette. it goes 0 to 60 in 3.8 almost a chance to test drive it says, yes, this does bring a new dimension to the game when it comes to the corvette stingray competing with other sports cars, particularly the german models. look at general motors. gm says the vette is still a halo car, is still relevant, and will still bring people in to showrooms. we'll see, mandy, over the next couple of months what kind of generation of sales this buzz does, because it is getting a lot of buzz out there. the question is, whether or not the corvette is still a halo car. >> you know what? sales aside, i saw one of these corvettes, you know, not exactly that one, but a different corvette on the george washington bridge the other day, and, boy, did it turn heads. it's still a beautiful car. >> reporter: they always have. you bet. >> thanks, phil. it's the world's most famous ferrari. and, no, it's not wrecked beyond

repair. robert frank is at the california wishing he was back in the news room. robert, what have you got for us? >> reporter: yeah, mandy, in fact, the most famous ferrari here in pebble beach is not actually a ferrari. you may remember it from this famous scene in movie history. let's take a look. >> 1961 ferrari 250 gt california. ♪ ooh, yeah >> reporter: yeah, that's right. the ferrari, the ferris bueller ferrari is up for sale, the one they drove around on their famous day off. it can be yours. the car used in that movie is being auctioned off this weekend. the price? more than $250,000. but given prices for movie cars, it could fetch more than $1 million. now, the car was one of three used in the movie. this particular car being sold

was used in many of the most famous scenes, including the famous jump scene in chicago. it was also used in the scene where ferris throws his hat off on the highway. it was not the car that crashed in the canyon. luckily, now. the owner and builder of this car told us yesterday that he bought it back from paramount studios, and to this day, wherever he goes, people recognize the car. let's take a listen. >> this has been great. it's been so much fun to have this car. every time i drive it, i spend twice as long, because people want to take pictures of the car. >> reporter: now, as ferris bueller said, if you have the means, i highly recommend picking one up. it's pretty cheap. you know, even for a fake ferrari, $300,000. mandy, movie cars are so hot. i picked out one i think is perfect for you. this is a duesenberg in 1929 used by fred astaire and ginger rogers. i think it's perfect for you. it's a little more expensive. it's around $2.5 million. but i think you would be super

glam in that car. i can use the cnbc credit card, just say the word. >> yeah, because i can really go incognito cruising around in manhattan in that, right? anyway. >> reporter: yeah, exactly. >> i want to ask you, i can't let you go without asking, what is the coolest thing you have seen out there, robert? >> reporter: the most unbelievable thing is a little toy race car. it's a pedal car, a toy for kids. i have two kids. i said, maybe i can afford this. i looked at the price. it's a little toy pedal car, $50,000. >> $50,000? >> reporter: it's the prices, mandy, that are blowing me away. there are vw vans now going for $100,000 or more. i mean, the collectibles market is unreal. that's the most amazing thing i've seen. >> no kid is worth that. they'll crash it in seconds. thanks a lot for that, robert frank. okay, a quick look at the markets for you. the nasdaq is back in the green. the dow and the s&p also coming off their lows. they're climbing back, folks, but still, of course, over an hour left in the trading day.

we'll see whether or not they can squeak into the black by the end of trade. coming up next, forget the cronut. we're crowning a new food king next. (announcer) scottrade knows our clients trade and invest their own way. with scottrade's smart text, i can quickly understand my charts, and spend more time trading. their quick trade bar lets my account follow me online so i can react in real-time. plus, my local scottrade office is there to help. because they know i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottrade. voted "best investment services company." a quarter million tweeters is beare tweeting.

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end the trading day. we'll wait and see. okay, guys, forget the cronut. the next big food craze has some serious substance. this, folks, is the ramen burger. it's getting tons of attention from foodies. here to give us the juicy details is the creator. great to bring your beautiful ramen burgers along for us to try. >> thank you for having me. >> we've been over there and our stomachs have been growling. we want to talk about exactly what this is and how you came up with this great idea. >> well, actually, i am a ramen freak and i spent the last four years studying ramen. like, i quit my job as a programmer. basically, the ramen -- the ramen burger is a ramen noodle bun. >> right. >> i figured out a way to make it stick together and take the shape of the bun. i grew up eating ramen. i grew up eating burgers, japanese-american. so i kind of got the idea of putting the two together. and it just worked out. >> when you say you're a ramen freak, i understand you ate 600 bowls in ramen in one year to do

the research, correct? >> that's correct. >> where do i get them at? >> in williamsburg every saturday, the food flea market we do, and they're $8. you have to come earlier because they line up. >> right. we've been showing here on "street signs" all of the lines waiting for a cronut. do you get the same lar kind of lines, people there before the store opens? >> yeah, last week at 8:00 a.m., they started lining up. we didn't open until 11:00. by 11:00, over 200 people in the line. >> here's what i want to know. these are trends that are very avant-garde, very forward. how long do they last? how do you keep evolving the foods so you stay relevant? >> i have no idea. it's happened so fast. two weeks ago i came up with the idea and we put it out. i'm loving the attention. hopefully, we can keep it going. >> if it doesn't keep going, do you have something else up your sleeve? at the same time of enjoying this, are you innovating? >> goal is keep trying to do new flavors, because i have the

ramen burger that i made. the goal is to make a miso, all different kinds. >> can i try? do you mind? sorry, guys, it will go down my front. mm. oh, yum. mm, that's really good. >> how it comes apart, you're champing and slurping. >> my mom told me don't talk and eat. i'm being rude. what's in the secret sauce? >> i can't show you. it's soy becaused. and just like any good ramen takes hours to make, the sauce takes hours to make. >> really? >> i'm intrigued. i've got to try this. i've got to try this. >> obviously, these have cooled down. is it meant to be piping hot? >> like a bowl of ramen. >> oh, that's good. >> the noodles, it's not instant. they're fresh noodles from new jersey. >> ramen made in new jersey. >> not packaged. >> and made in america, too.

>> yes. >> it's fabulous. >> it is good. >> i have to say it's delicious. thank you so much for bringing this in. >> thank you for having me. >> i apologize. i'm wiping my face. very quickly. we're watching into the close, what the markets are doing. we've come back from the lows of the day. the nasdaq is already in positive territory. have a great weekend. here we go, everybody. ♪ hi, everybody. welcome to the "closing bell." we're coming to you from outside the new york stock exchange for our special summer on the street series as we continue. welcome to the "closing bell." i'm maria bartiromo. as does the summer swoon for the stock market, the stocks are trying to hit break-even today. we are approaching the end of the week, bill. happy friday to you. >> happy friday, maria. yes, i'm bill griffeth here inside the new york stock exchange. the market isn't any better from this view, as well, although we are coming off the lows of the