debate heating up. >> absolutely. and of course in the context of very, very unsettling developments in ukraine add the middle east this week. so the palette of potential topics very colorful. >> thanks for watching, everybody. >> "street signs" begins right now. hello. welcome, everybody, to "street signs", where the signs are pointing to new records for the markets, and lots of green for one sector in the firing line of the fed just one week ago. shocking and worrying at the same time, mill lonial who say my money is safer under the pillow, thanks very much. just click five, melissa, it's that simple, or that is what facebook is hoping. welcome to the show, too, by the way. >> always good to see you, mandy. the faa extending its ban on u.s. flights into israel for an additional 24 hours, this comes as rockets continue to fly out of the gaza.

israel's army hunts for tunnels and rocket launchers. let's bring in phil lebeau with more details on faa's movie. >> it's a controversial decision by the faa, but it's pretty clear when you listen to the transportation secretary earlier today. we are talking with the israeli government. for now they are not comfortable allows u.s. airlines to fly once again into tel aviv. here is what the ban amounts to. essentially it's going to be extended for up to another 24 hours, it could be pulled back westbound 18 hours, 19 hours, but could be up to another 24 hours. the faa is consulting with israel about the situation, and the airlines involved here, we are talking about delta, united, us airways operating under american. they're suspending all four of their daily flights there. here's the transportation secretary earlier today talking about this ban. >> we're continuing to monitor the situation in israel, other parts of the world. safety is the very first

priority for the u.s.dot and faa, and our work within our own government and the conversations that occur between governments continue, and as the situation continues to evolve, we will sdwrust our guidance accordingly. for the time being, it is what it is. >> now, keep in mind this faa ban is only for u.s. airlines, but not surprisingly there are other airlines around the world that's following the faa's lead. all together, the transportation ministry says 160 flights in and out of tel aviv have been canceled. el al, the airline of israel, it is continuing to fly. here to the united states as well as elsewhere. british airways, another airlines that continue toss fly. delta, we talked with the ceo richard anderson earlier today on "squawk box." he explained their decision for suspending their flights.

>> well, we routinely at delta establish what we call delta no-fly zones. today, for instance, we're not flying to israel. we will not allow a flight to be dispatched over iran, iraq, syria, ukraine, afghanistan or north korea. we make those decision and have an obligation to make those decision wholly independent of any geopolitical or regulatory manda mandate. >> so again the faa notice to air american issuance, which bakley says to u.s. airlines, you cannot fly into tel aviv, that remains in effect for up to another 24 hours. >> el al, many of their claims are equipped with antiballistic technology, so it can help defend itself. do you expect more airlines to deploy this technology now? >> no, i don't. the reason el al is a unique

reason. they also had a plane fired on when it was back in africa, back in 2003 time frame. they decided to put flight guard which essentially dispenses flares when they are notify they might be in the sights of a pocket or missile. they generate heat sources which could divert the missile. but it's a costly system, and i don't think you'll see other airlines decide to do it. you're looking at very expensive remedy, if you will, to put those on planes and fly them around the world. >> thanks so much, phil lebeau. let's bring in peter brooks and our own michelle caruso-cabrera. peter, we want to start off with you. is this flight ban really about safety? or is it meant to put pressure on israel and hamas to reach a cease-fire? >> i hope it's not political. i hope it's about safety. of course, we have to put in in the context of what happened in ukraine just recently. everybody is a little nervous about the safety of civil

aviation at this point. i hope it's about safety of flight. >> it may not be political per se, but the message as michael bloomberg tweeted, when he went on to an el al flight into tel aviv, this hands hamas an undeserved victory. >> terrorists want to disrupt a daily pattern of life. they effectively managed to do that. i spoke with elliott abrams, he worked for the bush administration, he says there's no evidence that this was political, but the longer they keep it in place when there's a second airport open, when there aren't any more rockets so far in the area, then the conspiracy theorists can start to build and maybe this is a political move on the part of the administration. >> if not the flight ban, who do you think will be the crunch? what eventually will maybe them capitulate? >> we hope a cease-fire will come about. we don't want a flight ban to make that, but this is a small tactical victory for ha has.

ben-gurion is very important to the israeli economy. people fly in and out of the there. it's a public relations issue, you know, it also what it might do is may push the israelis, instead of moving toward a cease-fire to push it even higher to end the threat of missiles or rockets to the airports. so there's a lot of things that can happen in the next 24 hours. >> and secretary kerry, of course, is making his way across the middle east, michelle. how should we measure success? >> he meets with netanyahu later today. the israelis have made clear they have two missions, right? testament to destroy the rockets, their capable -- hamas' capability to fire rockets and they said to destroy tunnels. i don't think we'll see an end to this until they're convinced they have achieved those objectives. >> thank you, peter. michelle, please remain with us. >> john, great to have you with us. before i get your take on the impact, i did speak to david

rice, it's got its headquarters in israel. i asked him whether he had a contingency plan should things on the ground get worse. >> there's no contingency plan. the company is global and most of our employees are not based in israel, so really business as usual, and i don't anticipate any problems in the coming months or weeks and hopefully the conflict will resolve itself in the next few days. >> what's the impact on the community there, john, because they tend to be smaller companies? >> well, it really is business as usual. we're coming off an incredible second quarter. there were $920 million invested in israeli startups the second quarter, almost a new record. the first half is $1.6 billion. there are hundreds and hundreds much startups. what we are seeing is a continuation of israeli companies going public on wall street, a lot of talk about the mobile ipo in the next cupeling

weeks, about a $4 billion valuation. a company in our portfolio called rewalk just filed for their ipo. it's a robotic exoskeleton, one of the seven israeli medical device companies going public. we're seeing simply no impact on this crisis on the tech sector. >> what happens when alarms go off? do people hide under their desks? at some point it has to hurt productivity, didn't it? >> we've been fighting wars since we reestablished or independence some 60-plus years ago. israelis are pretty resilient people. we also, you know, as jewish people, we have lived through risks all of our lives. the idea of spending a couple minutes, usually? a stairwell or in a safe area maybe once a day or twice a day, big deal. it's a time sort of like our water cooler moment, where you talk to people. look, no one likes this.

we want our airport open. we want our lives back. we want hamas to stop firing rockets at us. we want these tunnels to be gone so we don't have torrie about people popping up and taking hundreds of hostages or killing people, but in the meantime we have to go on living. what israel has done through each of the crises, through each of the military fighting episodes, actually the country has emerged stronger. or market, believe it or not, since the opening of hostilities is up. go figure that out this s. by the way, is a pattern that is repeat it hadself in the last three wars. >> i'm sure traders have been burned in the past by having a knee-jerk reaction and sending markets and the currency downward and it's just bounced back. do you feel as well on the ground that the market is betting it will not become a larger regional war? >> yes. i mean, i don't think anybody sees that in the cards or in the offs. i think we hope this would be over in a matter of days or at

worst in a week or two. the only real issue for you right now is the airport closing. it's a nasty one, and it's really unfair. not a single rocket has landed on the airport. there was one that was close. that was the only one that has come through the iron dome. it turns out we now have a second airport open, and more importantly, you have to ask yourself, why didn't this happen a week ago or two weeks ago when there were twice the number of rockets actually being fired at israel? because of the success of the ground operation, we've cut those number of rockets in half. so you have to ask yourself why now? i hope the faa sees the wid dom -- the double whammy. >> i think it's the ukraine. why are we being punished for the ukraine? >> john, thank you for your time. michelle, our thanks to you as well. we have a huge day tomorrow. our very own steve liesman will sit down exclusively with president obama to tackle things economic, to. it all starts tomorrow at 5:00

p.m. eastern live exclusively here on cnbc. wove 1,021 reasons to keach watching. that's our number of the day. and the biotechs are blazing today. who could be the next big breakout? we're digging in, when "street signs" returns. ♪ ♪ over 1.2 billion eyeballs are on us during the two weeks at wimbledon. true tennis fans want to know what's happening. they don't want to just see what's happening, they want to know and understand why it's happening.

anybody can just put data up, but we want to get a reaction, make it far more interactive. we rely on the cloud to provide that immersive digital capability. give fans more then just the game with the ibm cloud. the ibm cloud is the cloud for business. bulldog: [yawn] bulldog: i just had a dream i was at mattress discounters with tempur-pedic and the largest selection of memory foam mattresses under one roof! icomfort, by serta... optimum, by posturepedic... ahh! comforpedic, by beautyrest...

ooh! 48 months interest-free financing, free delivery, and queen-size memory foam mattress sets as low as $697! that's more mattresses than you can shake a bone at. ♪ mattress discounters we have the s&p 500 which opened a new record high.

by the way, 1989 to one point above where we are right now was the intraday report high. we're just hitting there at 1988. dow transports also hitting a record high. dow is just ever so slightly to the down side. it is largely the fault of boeing. we're going to bring you much more of the stock later on. back to you, melissa. biotech weft sectors really blazing today. after anowing positive talks, but the entire biotech sector, as you mentioned trading up. les, great to have you with me. >> when it comes to puma and the importance of phase 3 data, the biotector is filled with stories that are binary.

are there others we should watch in the coming weeks? >> sure, there are a number of -- i guess we are in some sense blessed with an abundance of data coming in the next couple months in phase 3, though the move like puma, i should say is out of the ordinary. names bike biomarin and opco will have phase 3 data coming within the next couple months, so investor should be aware. data can go both ways. there's always that caveat. when it comes to these names that you're mentioning, les, are they ones to watch in particular because they're more of a binary story? more dependent on the results of thinks particular study? >> the two i mentioned have other drugs, they're le binary, let dependent on one outcome, which may be a less ricky way to

do biotech. i would say in general the market is very favorable for biotechs these days, despite what the federal chairman said, as long as liquidity keeps coming into the markets, you're going to wand to find risky situation and obviously biotech fits that bill. when. >> lieu at the biotech sector, the kegger on that is 9.5%, white the over is about 5%, so you're paying for growth. some would argue it's not overvalued. with that sid, they are the targets of potential speculation. there's a lot of companies out there doing deals right now. how much do you see the urge to merge is driving the biotech sector? >> well, you know, again it goes back to cheap liquidity. no -- relatively low cost to capital earn countrying

deal-making, and it's like a lot of things, very rarely do these things pan out, but there's been enough of them that they're starting to seem less like a rarity, more of a mundane occurrence, which is also supporting the sector. at least it puts a floor under some of the valuations. >> les, thanks for your time. appreciate it. >> thank you. >> mandy? >> thank you very much, melissa. 1,021 that's our number of the day here on stein styles. why? that's how many days the s&p has gone without a 10% decline. it is indeed the third longest stretch in the past 25 years, so let's get straight down to a guy that knows a thing or two. bob pisani, do you know anyone open right now who is calling for a decline of that magnitude before the year is out? >> not many. there's a few, but everybody agrees on how the rally will end, with a sudden rice in interest rates.

everybody agrees right now to 0.4, if we suddenly went -- not suddenly, but gradually on a slowly improving economic, but if it goes to 2.4 to 3.5 on a sudden spike of inflation, forget it, the rally is over. that's how potential the rally could end. by the way, i'm not so impressed with some of the nah. look at the russell 2000. look, here's a two-year chart of this thing. that's not really breaking out in any dramatic new way. germany has been underperforming. look at this, in the last few months. i notice europe is underperforming, but it's not nothing. international events still can matter. >> since you're bringing up the subject of international markets and events, it's interesting even though europe, what i've

really noticed this past month, maybe even a bit more is the outperformance suddenly of emerging markets. >> yes, and an important think is suddenly we see indonesia pop up, brazil pop up. one of the things that's important is look carefully. a lot of these countries are having elections. brazil is going into an election. indonesia, the stock markets in these countries tend to rise. i think that's a factor. >> i'm sure it is. we'll get back to you later. >> 30% of the s&p companies have reported earnings, more than two thirds actual le beat. what does all this say about the markets? let's bring in alan gale from ridgeworth investments. great to have you with us. >> thank you for having me. >> are you more optimistic than in the past when it comes to the markets continuing the stretch of records? >> i do feel better about this. i think we've seen earnings beating for the most part on both the top and bottom line.

what that sells me from a management standpoint is companies are continuing to execute well, and that we -- we're setting the stage for a further rise. our view, with the allocation strategies is that the markets are still not overvalued, they're not cheap by any stretch of the imagination, but what we see is companies continuing to execute well. i think that sets the stage for a better market, as we finish up the year. >> alan, what we are seeing is a bit of a shuffle around in the leadership board. it used to be led by utilities, now it's gone to technology and energy. i see you are noun underweight utilities. >> well, we are. i think the process we used is to look at value indications, see where the make roe fundamentals are, and then is there a good time to get? in our view utilities have been overisraeled for some time. we think the fed will be raising interest rates. that obviously will work against utilities as well. so we like the pro-growth sectors. >> in terms of growth sectors, they hit a 14-year high in

today's session, a number of new highs. where do you stand on the valuations of technology? is that a place for the sectors to be? >> our view is technology still represents good up side, so yes, we're still overweight technology in the allocations strategies. >> alan gale, thank you very much for joining us from the floor of the new york stock exchange. >> thank you. get ready for some cake and chips. up. we've got an earnings buffet lined up. later on, we're going to be telling you about the latest battlefront, but here's a hint for you. i'll bet your teen already knows all about it. "street signs" will be right back. 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. call or click to open your fidelity account today. if energy could come from anything?. or if power could go anywhere? or if light could seek out the dark? what would happen if that happens? anything. in a we believe outshining the competition tomorrow requires challenging your business inside and out today. at cognizant, we help forward-looking companies run better and run different - to give your customers every reason to keep looking for you. so if you're ready to see opportunities

and see them through, we say: let's get to work. because the future belongs to those who challenge the present. but they don't yet know we're a family. we're right where you need us. at the next job, next adventure or at the next exit helping you explore super destinations and do everything under the sun. 12 brands. more hotels than anyone else in the world. so wherever you want to be, whatever you want to do, chances are we're already there. save up to 25% and earn bonus points when you book at wyndhamrewards.com.

earning squad, joining me are j and j, jon najarian and jon fortt. >> we have gilead sciences, qualcomm and the cheesecake factory, but first the scorecard. with 30% of the s&p reporting, 68% of companies have beat their earnings per share tarts, and 21% of earnings have come in

below wall street forecasts. let's kick things off with gilead. that's one i'm watching. you have some interesting biotech news couple timesing out. nice numbers from bioagain. for this particular company, beyond the headline earnings, it's going to be about sovaldi. it's one of the most expensive treatments on the market, 12-week regimen costs $84,000. that are $1,000 per day. already gotten congressional ire. so a lot of commentary will be about whether this drug and this company with justify the pricing. this is a stock that could be volatile around earnings. on average it goes up our down by about 4%. this time around. they're pricing dr. j? >> given what janet yellen said, she's been about as accurate as jay carney in terms of calling -- you want to take the other side. when jay karney said don't buy

russia, i wouldn't buy russia, take a look at patty as run the numbers for cnbc, how well the stocks have done since ms. yellen called them out. >> qualcomm is on your radar, and i know why. it's a massive behemoth. it sure is. the quarter they are reporting is actually a slow quarter when it comes to their revenues. wall street's expectations don't seem to be that far ahead. just over the midpoint of where qualcomm guided. eps, though. at 1.22 is toward the high end of where qualcomm guided. two things will be key here. one is qualcomm's guidance for the next quarter. this is their big quarter. it's got the holiday stuff in it. you want to see some excitement from them, and part of that is going to be the china 4g roll-out. qualcomm said last quarter that was happening more slowly than they expected, but does seem to be happening. apple sales in china were pretty strong, we know we expect in new

iphones to roll out on china the first day. that should benefit. if that optimism carries through, they should show it in their guidance. >> anything chip-represented, qualcomm is certainly in that space. >> well, guys, we saved the best for last. we all love food, right? cheat cake factory is one of those other companies reporting. interesting because of the so many things given what we heard from mcdonald's. what's on your radar? >> number one, they have already guided down. they did that back in april. they guided to the low end of estimates, then they anoun nounced sales less than expected. i think they have set the table nicely for a beat here, because i think a lot of the same people that eat at chipotle, inert, the people who don't have to go to the low end are gravitating more -- >> mid scale diners. >> towards the like of an upsail

qsr rather than some of the mcdonald's and so forth. >> so we'll see if they serve beets at cheesecake. >> president obama doesn't like beets. >> who knows. gilead, qualcomm and cheese case factory, three you want to watch. >> thank you so much, guys. we have a twofer for you today. first, the one stock that's really dragging down the dow. >> and one symptom that got an upgrade today, thanks to rats. "street signs" will be right back. so now we've turned her toffee into a business. my goal was to take an idea and make it happen. i'm janet long and i formed my toffee company through legalzoom. i never really thought i would make money doing what i love. we created legalzoom to help people start their business and launch their dreams. go to legalzoom.com today and make your business dream a reality. at legalzoom.com we put the law on your side. but parallel parking isn't one you do a lof them.ings great.

you're either too far from the curb. or too close to other cars... it's just a matter of time until you rip some guy's bumper off. so, here are your choices: take the bus. or get liberty mutual insurance. for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. see car insurance in a whole new light. call liberty mutual insurance. when you run a business, you can't settle for slow.

that's why i always choose the fastest intern. the fastest printer. the fastest lunch. turkey club. the fastest pencil sharpener. the fastest elevator. the fastest speed dial. the fastest office plant. so why wouldn't i choose the fastest wifi?

i would. switch to comcast business internet and get the fastest wifi included. comcast business. built for business. time now for our daily rundown. we start off with mcdonald's getting a downgrade from neutral down to -- >> the firm is saying that mcd's is lacking a near-term catalyst and expected to remain under pressure in key markets like here in the united states and also gen,. the start is at 94 bucks, so 11% downside seen from there. also downgraded. ouch for the golden averaging. take a look at card tronnics. but the stock is still lower

right now. >> by about 1%, so the firm is says that card tronnics creates a sentiment. that's about 29% higher from the current prior. the company's stock has gone up about 22 march. >> and the ticker is lii, getting an upgrade over at goldman. >> goldman upping the rating with a target up from 93 to 102, currently sitting there at 91 and change. so about 12% up side seen there. the company stock is already up about 25% over the past year. not bad, getting a downgrade from a nees. >> the price target 36 bucks, the stock has dropped almost 10% over the past 12 months. we can see it's down, so not a huge drop, but nonetheless on the back food. this is the one we've been

waiting for, the rats upgrade. food and animal safety company neogen getting an upgrade. >> so the deal is that the firm is seeing significant opportunity for the use of contra-pest. >> that makes sense. >> it's a nonlethal oral bait for fertility management of rats. so it's not killing them, just managing their fertility as such. they won't have so many babies, recently signed a licensing agreement, the target being bump, about an 11% up side. neo good is the ticker. >> you are the only person in the world that can make pest control pleasant and nice. controlling the -- >> i don't have a thing about mice or rats the if anything, i think rats make very intelligent and good. >> i will call you if i ever encounter one.

>> okay time for talking numbers today, you guessed it, it is boeing. the stock reporting better than expected earnings. gentlemen, great to see you, ron, what's the fundamental case for boeing? >> i think it's very strong. it's enjoyed a lot of strong earnings momentum, as well as with margin, et cetera, cash flow. our issue with the stock is that all of that seems to be fully priced in, and we generally like names in the industrial space that trade below the s&p 500, and this one is right on it. i think what's happening is that people are starting to rotate out of names like boeing and into other old economy stocks that trade at cheaper valuations like energy. so we would basically be a neutral on this name right now. >> mark, where do you stand on

the technicals? >> it still looks early to buy boeing at current levels. it's lagged all the other names. a couple different charts support this view, one after doubling last year, you can see it's largely range bound, and it's recently pulled back after today to an area that should be at least temporary trend line support. but there's a couple things that support the stock moving lower. if you look, you can see that after the stock doubled, you got above the highs from 2010 to '12, extremely overblocked, getting past 2007 highs, and now you're just starting to show signs of consolidation. this doesn't appear over yet. still appears negative, so i think it tax on the this 125 level, 121, 122, down to -- that

would be a much better area to buy. look, the sector has obviously been under a tremendous amount of pressure. i think it's premature to both relative and absolute charts. it still suggests it's a little early to take a stab. >> thank you, gentlemen. we can see year to date the stock is down about 7%. you can check out the online edition in partnership with yahoo finance. well, the stock market has been in rally motor for more than five years now, but young people, they've missed out. why are they scared of stocks? plus facebook and twitter trying to combine social and retail, can they really take on amazon? they're going to try. stay with us. tdd#: 1-800-345-2550 searching for trade ideas that spark your curiosity tdd#: 1-800-345-2550 can take you in many directions. tdd#: 1-800-345-2550 you read this. watch that. tdd#: 1-800-345-2550 you look for what's next. tdd#: 1-800-345-2550 at schwab, we can help turn inspiration into action tdd#: 1-800-345-2550 boost your trading iq with the help of tdd#: 1-800-345-2550 our live online workshops

tdd#: 1-800-345-2550 like identifying market trends. tdd#: 1-800-345-2550 now, earn 300 commission-free online trades. call 1-888-628-2419 or go to schwab.com/trading to learn how. tdd#: 1-800-345-2550 sharpen your instincts with market insight from schwab tdd#: 1-800-345-2550 experts like liz ann sonders and randy frederick. tdd#: 1-800-345-2550 get support and talk through your ideas with our tdd#: 1-800-345-2550 trading specialists. tdd#: 1-800-345-2550 all with no trade minimum. and only $8.95 a trade. tdd#: 1-800-345-2550 open an account and earn 300 commission-free online trades. call 1-888-628-2419 to learn more. tdd#: 1-800-345-2550 so you can take charge of your trading. the cadillac summer collection is here.

♪ ♪

during the cadillac summer's best event, lease this all new 2014 cts for around $459 a month or purchase with 0% apr and make this the summer of style. a really big day tomorrow. why? well, steve liesman will be interviewing president obama on various economic topics at 5 p.m. eastern time. before steve does that, he'll join bill and kelly on "closing bell." a preview of what he's probably going to ask the president, guys. >> exactly. one of the key issues we have to take about is tax inversion. but tax inversions will be a

theme we have been following on this program. of course we just saw senator manchin come out, talking to "the national journal" saying he does not support these inversions that his daughter notingly embodied with her deal at mylin. we'll talk more about that on the show. >> job growth is still on the table. monetary policy, you know, how much longer it goes on, is it counterproductive? and let's not forget it's a year divisible by four, we have an election coming up in november. some of the issues facing the president, the immigration issue i'm sure will come up with steve, too. >> and obamacare. >> and oh by the way. >> i'm not sure how he will fit all of it in. hours worth of topics. >> see you at the top of the hour. facebook and twitter popular sites. how do they make money? julia boorstin joins us. >> facebook is testing a "buy"

button as it explores how to tap into the 300 billion pluses annual e-commerce market. it's not just about taking a cut from sales, but perhaps more importantly this allows facebook to better sirs the growing likes of amazon and emay. >> i think that's what it would look like. we would see more retail oriented, action-oriented ads on facebook. we're already starting to see them to some extent. >> he says in the fight for retailers, ad dollars, twitter is not as well positioned as facebook with a smaller use base, but twitter is also explores potential buy now options, which might like a little like this. twitter's recent acquisition of payments company cardspring sets up the potentially for a "bay

later" button allowing them to save deals to credit cards to redeem later in stores. we'll be listening to any comments on retail revenue potential, but remember it's all part of the company's plan for now to give advertisers the most effective possible tools. mand,? >> thank you very much for setting it up. let's bring in ben chaboter, and i also see that facebook is your top fick. how important is the buy button. >> clearly what it shows a that retailers are relying on facebook in a way they hadn't before. just the advertising opportunity and the ability to target the message is what's playing to facebook's strengths. >> so even though you think the buy button is not that important near term.

whereas amazon at the moment is a buying destination. longer term, do you think that amazon should be worried? >> right now what you think is facebook could use it to but also things for events like ticketing. there i can see it working in the near term. over the longer term, the question is, will people go to facebook it actually purchase more physical products? there we're a bit more dubious. i think in general again it's the targeting that's so important for facebook. that's really where their strength shows. >> >> i want to talk about earnings. a pretty strong run. is there just too much built into the stock at this point? the bar is set too high? given we're getting all these data points from preferred

marketing partners i think in general it will le stronger than anyone expects. we like it into the print, but that always makes me a bit nervous when everyone is on one side of the ledger. >> currently at 71 and change, a price target of 73. to move meaningfully to that level and above on a sustained basis, what's going to be the next leg of growth? >> over the long term, we would like to see them expand their market opportunity, so you see things around search, with oculus rift, there are opportunities just beyond the advertising model. the buy button is a piece of that as well. we want to see them broaden -- before we get too excited we want to see them broaden out to businesses they aren't concern. people are excited about video, instagram.

>> i'm curious, eye trimming to get a sense of whether facebook and the run it's had is partly driven by the rotation out of the twitter that we have seen. >> i'm sure that's part of it, but in general i think a lot of folks have piled in, the stock obviously has worked extraordinarily well. it does have a bright future, so people are continuing to go into it. i think it's overweight, but that's been the right call for a long time. >> ben, great to have you on the show. >> great to be here. well, mill lennial are missing out on a huge stock market rally. are they afraid of another crash? or is something else bothering them? we'll get to the bottom of that, next. [bell rings]

♪ time and sales data. split-second stats.

♪ its so close to the options floor, you'll bust your brain-box. all on thinkorswim, from td ameritrade.

could help your business didavoid hours of delaynd test caused by slow internet from the phone company? that's enough time to record a memo. idea for sales giveaway. return a call. sign a contract. pick a tie. take a break with mr. duck. practice up for the business trip. fly to florida. win an award. close a deal. hire an intern. and still have time to spare. check your speed. see how fast your internet can be. switch now and add voice and tv for $34.90. comcast business. built for business. studies show young adults are great planners and savers, but the millennial generation about investing may be hurting

their own long-term financial success. sharon is here with more. >> cash is king, roughly from 19 to 34 years old, obvious the children of baby boomers have witnessed firsthand. how their investment portfolios dwindl dwindled. all of this according to ubs, they are sitting in cash with let than one third of assets, this is very troubling, because it's directly countered to the long-term investment device. nonmill lennial have less than a quarter, and nearly half of their portfolio al catted to stocks.

and they won't easily reach their financial goal business hoarding cash, so the stock market reports are getting hanes of many investors yet nos young adults remain rick averse. >> why do so many are scared of the stock market. greg is a senior financial analyst at bankfreedom joins us now. greg, i can totally understand when you consider the housing crash and financial crisis and many of the things money lonelies have witnessed. you can understand why they're gun shy, but i wonder how much of it is due to lack of financial education, not sure of the options available. >> well, i think that's part of it. i mean, one of the things i do when i give presentations is i show the performance of the market over a25-year period and it's an eye-opener. someone investi inin ining for w years doesn't have that perspective, but when you say

look, even something as severe as the financial crisis, if you had hung on and continued to invest, you not only recovered those losses, but you came out well ahead. you know, i think it's that type of thing that does resonate with them. but right out of the blocks, i think they had this very conservative investment mind-set simply because they had a front-row seat to the financial crisis and the tech bubble. >> the implications are terrible looking out decades from now. already we're seeing generations who are not saved well enough for retirement, into retirement, you know, social security won't be enough, and yet, we have this whole generation which is not investing into the long-term. there is no way for them to beat inflation if most of their money's in cash. >> that's definitely not the place they want to be hoarding cash, and the problem is a lot of folks aren't going to greg mcbride or to a financial adviser for advice. in fact, they're going to their friends, to their family members, many of whom have lost money, perhaps, and really seen their investment portfolios depleted over the time, during the great recession, and they don't want to repeat those mistakes, but they don't know who to go to or how to access the right advice.

so, that's part of the problem. >> also, if you want to find a silver lining in all of this, greg, to what degree are the millennials better savers than the baby boomers? >> that is the silver lining, is that they have actually gotten the message about the importance of saving. we find that when it comes to say emergency savings, that short-term savings, they're actually more inclined than other age groups, other older age groups to have savings put away, enough to cover up to five months worth of expenses. so, they're definitely on the right track. it's just that the investment allocation for the long-term money is really out of whack. we find that they have a preference for cash that exceeds not only all of their older counterparts but outweighs their preference for the stock market by a 3-1 margin. and again, that's long-term money. it's specifically for money they're not going to need for more than ten years. >> greg, while they certainly should be more aggressive with their money, another thing i think they have right is they're thinking about what retirement might look like for them and they're not thinking they'll

only work to 65 necessarily. a lot of them are looking to work longer in fields they're engaged in and passionate about. i think that's a difference from previous generations, too. they're not necessarily just trying to get a paycheck because i think many of them right now are just happy to get a paycheck, but eventually they think they'll be in a field they're going to want to stay in, so stopping work at 65 is not necessarily their top priority. >> so, where do they start? where do these folks go, greg? they can go to bankfreedom, but a financial adviser, you'll pay a percentage of your assets to that adviser, not guaranteed of any particular return. so, that might be sort of, you know, a factor. >> not necessarily, though, right, greg? they can get an hourly investor. they might be able to come to an investor for specific advice about say their 401(k) or i.r.a. holdings. there are some that will really work with you by the hour. that's something maybe they should look for. >> and there are a lot of 401(k) plans where you have access to objective advice, 401(k)

meetings, things like that where they can get information to kind of bring them along the educational curve, if you will, without any out-of-pocket expenses. >> greg and also sharon, thank you very much. great advice. thank you. all right, there's roughly 8 million people in new york city. how many of them are millionaires? >> that's a question. >> robert frank will be here with the answer. >> we counted them all. >> himself, one, two customizable charts, powerful screening tools, and guaranteed 1-second trades. and at the center of it all is a surprisingly low price -- just $7.95. in fact, fidelity gives you lower trade commissions than schwab, td ameritrade, and e-trade. i'm monica santiago of fidelity investments, and low fees and commissions are another reason serious investors are choosing fidelity. call or click to open your fidelity account today. in a we believe outshining the competition tomorrow requires challenging your business inside and out today. at cognizant,

we help forward-looking companies run better and run different - to give your customers every reason to keep looking for you. so if you're ready to see opportunities and see them through, we say: let's get to work. because the future belongs to those who challenge the present.

we're changing the way we do business, with startup ny. we've created tax free zones throughout the state. and startup ny companies will be investing hundreds of millions of dollars in jobs and infrastructure. thanks to startup ny, businesses can operate tax free for 10 years. no property tax. no business tax. and no sales tax. which means more growth for your business, and more jobs. it's not just business as usual. see how new york can help your business grow, at startup.ny.gov if you're walking down the

street in new york city in a crowd of people comes your way, one of them could be a millionaire. robert frank joins us to explain. so, what's the percentage of millionaires in new york city? >> it's around a little over 4.5%. so, about 1 in every 22 people are millionaires. a new study finds that the rich in new york city are actually not all fleeing to florida for taxes, like many have said. we'll get back to that 22 people in a minute. but the city's independent office says 1.8% of people making more than $500,000 a year left new york city in 2012. now, that's about the same rate as the rest of new yorkers who actually have lower tax rates. so, this sort of goes against the notion that high taxes in new york city are chasing away the rich. where do they go when they move? mostly within new york state, mostly to the burbs. 42% stayed in new york city. new jersey was next followed by connecticut and california. florida was actually tied for sixth along with massachusetts, something we wouldn't expect. now, the media said this is proof that taxes don't chase out new yorkers, but this is very important, connecticut and new

jersey, where a lot of these people went, they do have lower tax rates than new york city, so taxes may be a factor there, and antitax groups say that we could see a big millionaire migration after 2013, when federal tax hikes, of course, brought that combined rate for people in new york city to 54%. so, we could see a big spike there, but that doesn't mean that new york city isn't still a big place for millionaires. again, that study shows that 1 in every 22 new york city people is a millionaire. do you know who ranked at number one city in the world with the most millionaires per capita? >> hong kong. >> monaco? >> monaco, exactly. >> of course! >> one in every three people in monaco is a millionaire. >> one-third? >> one-third. >> it's a tax haven. >> that's why they go there. >> because of taxes, but not a fun place to live. >> we talk about silicon valley minting millionaires. how does new york compare with say san francisco? >> san francisco was near the bottom of the 20 list. in fact, there was another u.s. city that was above san

francisco. that was houston. >> houston, oh, oil money, of course. >> exactly, and a smaller population. so, we beat -- houston beat san francisco in millionaires per capita. >> what was the biggest surprise in the list? >> i was surprised at just how dominant switzerland is, because we hear the whole notion of going to switzerland for a tax haven is out. in fact, there are a lot of rich people around the world that still like to go there because of the taxes. >> so, not a lot of people are moving to flee taxes. so, this whole notion -- for instance, john paulson investing in puerto rico, where the tax rate is nothing, basically, you don't think that's going to come to fruition for some people fleeing and setting up shop elsewhere? >> it's really hard to tell. i hear every day a story about a rich new yorker moving to florida, every day. >> yeah. >> you talk to accountants, you talk to attorneys. their client list is overloaded with people moving to south -- i don't understand. we have that on one side and then this data that only goes to 2012 that says it's not happening. >> oh, only to 2012. >> we'll have to see what happens later. >> looking at the markets here,

straight out of the gate this morning we had new records for transports and also for the s&p. we reached above that 1,989 record intraday high level, we're currently at 1,987. dow being dragged down by boeing. >> all right, thanks for watching "street signs." i will see you at 5:00 for "fast money." >> looking forward to it. "closing bell" coming up next. thank you for joining us, melissa too. and welcome to the "closing bell," everybody. i'm kelly evans at the new york stock exchange, where earnings are taking center stage this afternoon as stock markets here are zeroing in, at least for the s&p, on new highs. >> yes, we are there. i'm bill griffeth. the dow has struggled to stay above the unchanged level of the day, down 23 points. that's been dragged lower by boeing. that's the worst performer among the dow components, but the dow needs just a gain for about 25 points to close at a new all-time high. different story, though, for the s&p. that has been higher most of this day, and it is