millionaires are going to see their share drop as well. billionaire wealth now about 15%. so it is really not the 1%. it is the very top of the top just like those sports stars. just like those sports guys just talking about. >> "closing bell" starts now. ♪ hi everybody. welcome to the "closing bell." i'm kelly evans of the new york stock exchange. >> and i'm bill griffith. stocks not doing a whole lot but oil hitting highest level in nearly a year today. we found someone who feels these higher prices are just a head take that we are desk nd to go lower before the end of the year. >> and the ath athleisure phenomenon is still going on. and lulu lemon up 5%.

>> and world golf hall of famer annika sorenstam will join us live to discuss her own clothing line and latest business ventures all ahead of the ladies pga championship out of seattle that gets under way tomorrow. she'll be working the 18th tower for nbc. >> only woman to shoot a 59. rashlgabl remarkable. >> ceo doug yearly will join us live in just a bit. the dow last closed this high about april 27th. so about a month to get back to this level. pfizer, travelers. united health. procter & gamble, j and j all

have been powering the games. those are gains you see there. check what's been dragging the dow lower. nike, goldman sachs and home deep. >> athleisure. >> even as athleisure gets priced in and people want the know well what is the next big thing. and speaking of under armour. they have game three tonight. golden state warriors against cleveland. and nike one of the worst performers. >> and we're not picking favorites in. >> no. go warriors. >> "closing bell" exchange now. nancy is back with us today. from hardland financial group.

keith bliss and rick santelli from chicago. keith is it oil powering the market? what's going on here? we're just grinding. we hit singles every day. no home runs. >> listen, the natural inclination of markets is to move higher and when you see it grind higher like this it tells me there is some confusion about what direction it is going to go. we still have contradictory signals, the economic data's really not been great and you have the world bank adjusting down and china still continuing to have a issues and ecb buying corporate boonds. and by the way if i was a in europe i would be issuing. you have the buyers. and the people want good defensive assets on their books. so i think we've got that going on. but mentioning oil. investors and traders are

conflating oil and the global growth stories right now. >> and you -- >> i do have the to also say as the native san franciscoen, go warriors. and we're moving to the large cap pharma and large cap bio techs. there is a lot of value, it is a political story. we have to let it ride out over the long-term but even in the entire clinton administration pharmaceuticals drougamaticallyt performed the s&p after lagging the first few years. >> everybody wants to buy debt right now. record demand for 10 year note. everybody and his brother wanted to buy 10 year notes today in that treasury auction.

>> one reason is because there is one man in particular who wlieks buying debt and that's mash o mario draghi. i was supposed the auction wasn't more aggressive. i thought it would be more intense considering what yields are doing around the grobe and bundesbank comes one the rate. and they are paying attention today. the april jolts right. might be a favorite of jellin' but frankly it is nothing to them. they are unfamiliar with it here on the trading floor. don't pay much attention. we just had the may jobs ast report last week from bureau of labor statistics. 5.8 million job openings.

matched the all-time high ever. only reason i say a is because it is janet yellen's purportedly favorite number. maybe she should have had a press conference about it. i would think it is important given how important the wheat number was on friday. but maybe that gives us something to hang on has on in talent especially consider one offs on the weakside. >> and nancy, j.p. morgan saids the jolts support supported their view in. ubs was asking given also that the layoffs rate remains at historic lows does this mean the labor well has run dry? >> i think there are two things going on. there is a ton of noise in that number and the margin for error is negative $70,000. so that is a problem. and that is a problem. i think. and then the labor participation

rate. i think that is the pivotal item for the election. if we have somebody who focuses on jobs that is going to be outstanding for the market. we're because at reagan carter participation rates and so that needs to change. and i'm a baby boomer so it is not just about retirement. still working. >> facilitating a rise for commodities like oil. rails are doing well as commodity prices going on up what you make of that? >> it is an opportunity right now and the way if market is set up when you look at the major averages and i've been focus tong2,000 litly. the dollars playing into ule of them. and the central banks are willing to continue this currency war and nobody is willing to blink first and go ahead and inflate their currency and attract investment but also put them in a weak position

economically. so the dollars having a play and what i'm really looking at the russell the 2,000. the small caps have been looid leading the market higher. as long as they keep rallying forward this market will keep going up as zblel and the flip side. you not only have oil over 51 today. gold strong. silver, glass lean, corn and wleet and the euro is $114. >> focus, thanks for joining us today. appreciate your thoughts on today's market action. meanwhile we mention the price of oil hit highest levels since last zwrul. the price up nearly 40% this year. >> does the rally have more room to run or not? joining us now is andy lirk. and james c from option sellers.com who says highers prices are a head fake right now.

andy, why do you think fifty is more of a floor than ceiling? >> for a couple reasons it's been led by supply disruptions o out of nigeria, the canadian wild fires and upcoming maintenance in the north sea that is going to take crude oil off the market and combine with that increases crude oil runs in the u.s. through the summer and you have a mix of higher price. >> james you want to sell what's he's buying. what do you think that is the head fake. >> that's what makes the market. certainly we have disruptions in canada and nigeria as well. these are all temporary. we also feel that the great demand right now for gasoline for driving season of course is seasonal. going into the fall we expect these millions barrels that ha come off line to come back on line. we also think here this the united states we can produce oil and pull it out of the ground for 35 dollars a barrel. you can now lock in hedges at

$55 a barrel. and investors have noticed. we have production back around 9 million barrels a day and we see 2 to 3 million barrels a kay coming on line that are off now. that is not going make it easy for oil prices to rally this fall. >> what happens if there is more supply coming on line with these higher applies points? >> well of course that would be embarrass more the market and especially you see $50 oil hanging around for 30 or 60 days the producers are going to come back in and want to be drilling as much as they can. but on the other hand if you looks at the demand side of the equation, demand around the world from the first quarter of 2016 to the end of year will be up two million barrels a day. so really in order to get oil prices on the bearish side you need to see libya and nigeria come back. and i think nigeria is going to be worse for some time here.

you have a new government at odds with the southern tribes. >> i'm curious. is this a timing issue between the two of you? in other words, could you both that that we're going to see higher prices down the road? is it just a matter james of seeing another decline in the price in the meantime? are you bullish long term? what do you think? >> james? i guess he can't hear me right now. andy what do you think? >> well certainly in the short-term you could see a pull back of the supply disruptions but as i look at 2017 i'm thinking about upping my forecast to $55 a barrel and i think we are just one supply disruption away from hearing about $60. because the political environment is unstable. the electric power environment

down there sun stable. that could impact production. >> wear also hearing anecdotal reports about saudi and iran in this price war for european customers. going to put downward pressure on oil broad oi or show itself in brent. >> well it e shows itself in the official sales price we're seing out of saudi arabia. but i think the comments out of the saad oil minister were a bit more accommodating in they weren't going to flood the market. why put more oil on a market that is already savptd saturated just to see your own government revenues go goub down. >> we've worked out our audio issue i think with james. can you hear me 234e? >> yes. >> okay. the question i was posing. do you longer team feel we could see much higher oil prices or do you think the decline is more

secular right now? >> i think it is more secular. the countries like ooish and iraq who desperately need money to support their economies. they are inching up towards 4 and 5 million barrels a day. there is going to be opec fighting on off season demand which is coming up in fall and this winter. wore going to continue oil trade between 30 and 50 over the next several years. you have to time your purchases and time your sales and i think here in june and ju you want to time your sales coming soon. >> so there is a real difference of opinion. that makes a market. andy, james, good to see you. >> 47 minutes left in the trading session. the dow is back above 18,000, up 70 points right now. the s&p up 7 and the nasdaq has come back as well today. up 16. >> toll brothers ceo doug

yearley speaks with us exclusively in a few minutes. >> and lpga hall of famer annika sorenstam i officially left the lpga tour eight years ago but she still fields offers to tap o into her brand. you're watching cnbc first inned by

as a supervisor at pg&e, it's my job to protect public safety, keeping the power lines clear, while also protecting the environment. the natural world is a beautiful thing, the work that we do helps us protect it. public education is definitely a big part of our job, to teach our customers about the best type of trees to plant around the power lines. we want to keep the power on for our customers. we want to keep our community safe. this is our community, this is where we live.

we need to make sure that we have a beautiful place for our children to live. together, we're building a better california. welcome back. the dow holding above 18,000. close less than 45 minutes away. the ten sectors inside the s&p. eight are green. telecom and energy are trading lower but materials higher. >> a weird one. lulu lemon is higher too despite mixed bag of earnings. courtney is here with more of a look. zblm is lulu lemon shares marching higher in the second half of the day. ceo calls the results very strong even with earnings in light, revenues better than expected. comps up 8% but lulu's full year

guidance range below consensus. however they have a history of conservative guidance and what analysts liked is the inventory levels and the margin improvement. they expect to continue to moderate in the second quarter and continue gross margins even further. and a now launch helped to drive traffic but overall traffic was still lower than in the previous quarter. like other retailers lulu lem b's traffic weakened late and improved late. on wlooin sales increased 18% deceleration the fr the 31% increase year overyear. and continue to open new stores around the world. and one very interesting fact i found is that the four stores in

asia do $1500 or more a square foot. so room to grow in asia. >> incredible. because that market was weakening with the number of luxury brands. >> aerp apparently not for must lulu lemon. $5700 per square foot is impressive. >> they are in turnaround mode. >> definitely still in turnaround. and the ceo said by the way later in the summer we're going to have a whole new look. and new when it comes to fabric and texture and print and he didn't dui anything more than newness and innovation. we'll see this f that bears fruit. >> thanks courtney. >> our next guest is widely considered the greatest female golfer of her generation.

during her 15 year hall of fame career, 89 worldwide victories including 10 lpga champions on the pga tour. >> outside of sooeltd kicks off tomorrow. anika nice to see you again. welcome back. >> thank you very much for having me. >> knowing that you are keynoting this event, this leadership summit along with continued leisure rice. you have to have been thinking about the history yesterday with hillary clinton gaining the nomination for president. right? >> a big week for women i guess. and keeping an eye on the players as well as they are wompling up for the zblournt condaleezza rice remarking about

the golf. and a as you were star on the menace side who is not even sure he want to stay pro. what do you think about interest in golf going forward? >> well i think like any sport like any industry we have our understand and downs. certainly had a few downs with the economy but i really feel like we're on an upswing right. and the atmosphere here with that they have on the lpga schedule is a major championship but to bring in all the leaders in different walks of life. business women, and dr. rice and other athletes to talk about how we can get kwem in c suites and how we inspire and engage them. this is fantastic for us. we are on national tv and the purse is one of the highest. from that perspective i thisty lpga is in good shape and golf is taking a turn to the better. >> you have famously made the

transition from golf to business. do you miss the competition? you have been gone eight years but some of your contemporarcon cary webb is still playing. joule inkster is still playing. do you ever miss the competition? >> do you like the business side of life right now? >> i do. when i stepped away i was ready to stay away. i felt the motivation to play was gone. i felt i had achieved everything i wanted. and e had other passions. so eight years later i'm learning a lot every day and i'm not sure what my handicap is in the business industry but i've lowered wit a few shots the last few years. i've learned a lot. but there are so many synergies between golf and the business world. it is really fun for me and as far as the competitive part i'm still very competitive. there are things that will never go away and i still want to be successful off the course as well as i was on the course.

>> i like the idea of handicapping business leaders. might be an interesting option there. you mentioned you have so many projects comie ing at you. how do you know what to focus your time and energy on? >> i think it is all about having a position packs. sigh a passion for a few things. i spend a lot of time on that. i'm a lucky wife and mother of two. so the ambulance is really important but i'm also a person that likes doe a lot of things. like to cueto involved and i'm all about challenges. challenge is always something i'm striving for. and my newest adventure is fundu. and city specific recommends for you. you create a profile and it creates things you like too. i love to have fun and i travel quite a bit. so why not find the best things in the city where you are. >> and trying to find fun for

your family ywherever you trave. >> absolutely. >> before we get you go, we cannot ignore the issue involving maria sharapova. who likely you has been great success not only on the tennis court but also off. she's been one of the most successful business women in the athlete as well. and yet today she was suspended two years because of the drug violation. your thoughts on that? and the thoughts about maria. >> it is really sad. i was expected something like this but you never know. with when the news broke it was sad to see. i've always respected maria on the court and off the court. i think she's done a lot for the sport and also just to get women out there. so it was really stoad to see b sports are sports you have to apply according to the rules. >> always good to see you. i know you will be in 18 tower

this weekend for nbc. >> thanks for having me. >> aninika sorenstam. >> i love the story when she was little and on the golfing range and it started ran eed raining. and the father picked her up. there's no shortcut to success. in golf. in life. >> get a rain suit and keep going. >> yes. 35 minutes to go here. the dow is up 59 today. just below 18,000 at the moment. the s&p adding six. nasdaq up 13. >> head of the nations toll brothers is withis today. talking about whether he is worried about the possible housing bubble in the making in some parts of the country. and. >> and knee deep on a special assignment. >> coming up we'll tell you about one of the the best performing commodities of the year. can you guess what it is?

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>> back welcome back. the dow adding another 58 points just shy of the 18,000 market at the moment. >> we were talk during the break here out pork is one of the best performing commodities this year, weren't we. kate kelly tells us why from the world pork expo in des moines iowa. nice assignment there, kate. >> it's baens good one here.

some 20 thousand patriarch producers and other participants are expect sod turn up this week for the world pork expo. my focus is lean hogs for being here. so far this year lean hogs up about 45% in price thanks to demand out of china. and increased appetite from sources like mcdonald's. which lost year introduced an all day breakfast menu featuring bacon and sausage. and battles over a muscle drug which they won't allow in pork imports and on going dietary issues like the world health organization late last here r year that there are links to cancer. with that in the is it rear view mirror, farmers and others are

feeling o inin ining optimistic. analysts i've spoken to think lean hog could top 90 epicencen pound come labor day. >> part of the if barbecue season. and when the tomatoes come into season you have two-thirds after the blt. >> it is a real deal for a lot of traders who trade pork belles and things like that.

. >> there are two to myelinate here. kwun, you are going to see a new revenue sharing model. for the first year of the subscription apple will maintain the split but the developers can may not a scriptiskripgsz and i longer than a year that traditional 70/30 split, apple ooesz cut will drop to 15% and apple spokesperson telling me this is a more fair revenue split the a developer is able to maintain a customer for a year. you could argue a prescription

model is more sticky. and the iphone at least as the franchise is facing near term pressure. and they are going introduce search ads launch next monday. apple quick to point out yes there are going to be search ads but the prooifivacy remains. no user data will be shared with developers. in addition users can opt out of search and data trafficking and location trafficking in iowa settings. very big changes coming to the app store. >> couldn't you read this as apple losing pricing power in one of its most important platforms in the app store. >> that is one way. the other way is we know they are moving to a more subscription model here doing what they can to keep developers attracted and loyal to that platform and becoming more

important to investors when we know there are concerns about the iphone franchise. units fell for the first time ever. if that continues helpful to introduce new revenue shares models here. >> the app store is a mature product. and if demand -- there is more kmegs and demand is not what it used to be you find new ways to monetize that product and this is how you do it. >> and also another way to push people outside of the eco system. if they don't want to see the ads. >> absolutely. on the frick side. >> to the ad side apple will tell you they are responding to developers demands. right now if they want more attention to their ad they have to two socinetworks like facebo and link back in. they will specifically point out out to me responding to developers in particular getting traction in a very crowded

marketplace. >> thank you josh lipton. >> time for a cbs news update and sue herrera. >> here is what's happening at this hour. still developing story. one person dead and several injured at the shooting incident in a mall in central tel aviv. israeli police say it was an apparent attack against israelis. it took place near the defense minist ministry. two police officers killed and more than 20 wounded in turkey. a essday after 11 were ki8d by car bomb in istanbul. it destroyed the facade of the five story 3wi8ding and a blum of black smoke throughout the area. >> and beginning conducting on a vaccine for hiv. 5400 volunteers taking part and

the study due to reach kpleegsz about 2022. and a surfer had a close call who said he was about to catch a wave when a shark took a chunk out of his board. >> wow. are we going to have another one of those seasons. this is in south carolina. the coast there, last year and the year before we had all kind of shark sights. >> -- >> oh you bet i do. that is why god created swimming pools by the way. >> you can't go to a swimming pool within view of the ocean. >> then this starting happening. makes every bit sense. >> sights on the west coast too within the last couple weeks. >> cold water sharks. i just made that up. and the dow is up 58. well now back below 18 240uz. i'll ask what i asked yard.

what do you think? >> i don't know. >> what a leading trader is watching into the close when we come back. >> and toll brothers ceo doug yearley will tell us what he thinks a new hosing bubble is brewing thanks to fed low interest rates.

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heading into the close. mark newton joins us from newton advisors. last week you were bullish when few we are and now you are talking about bulb b on energy. >> s&p -- this continues to be a sector i think people have avoided. they missed the move and now arguing to why crude should fall. but it's been a sharp move in a short period of time but. >> a lot of people think if they didn't get involved already they missed the move because it has been so sharp. how much more do you think it goes. >> up to 52 and above that it runs up to 70. largely the move has been cone

already but energy has been the top performing sector. o it pays to be in a sector like this that continues to cork as people are skeptical about the market nearing all times. and stocks still benefitting so it pay zik with a sector like that. >> the dow mediholding just bel 18,000. and when e we come back, toll brothers ceo doug yearley who's company has seen 30% jump in home sales and he see nos kwaekening in the markets. and fighting up the established exchanges

things are looking up for toll brothers lately. the company beatest hates in the

second quarter. and home prices are up as well. joining us from the yale ceo summit is doug yearley, ceo of toll brothers. koug, good to see you again. >> thank you bill and kelly, nice to be here. >> we've seen signs of green chutes in housing markets lately. your stock we just highlighted is up 30% this year alone. what's going on? is the housing market showing signs of life again? because the financial crisis is so far behind us. the jobs market is picking up or what's going on right now duke? >> we've been in recovery for four years so we've had life but it has been slower that be we thought. the news is i think it will be longer. we're still just builting 1.1, 1.2 million homes year. the average is 1.5 million.

that is not even an overheated year like 2005. so we still have a long way to go. there are definitely green chutes. it feels good. that is strong market. nowhere near a bubble. it is not super hot. similar a couple of areas around the country that are very strong but overall i'm happy. i'll take it. >> that said you probably saw hyde's comments in barons over the weekend. she thinks there are several more years too go during the home building cycle but favors other builders who might be better positioned and you have some exposure to urban rents which might be comikol off. >> we have about 5% in new york city high-rise. most of what we have is in the 2.5 to $5 million price point. that market is still strong. still seeing good sales. we still love new york. it is one of our top markets. but the big move for the company

is now over half the business is west of the mississippi, seattle, northern california, southern california, nevada. denver. all those markets are on fire. at the luxury end of the market the average price is about 850. so we're not building multi million dollar mansions in malibu. we're stale product many can afford. and very focused on the empty nester the baby boomer moving down. and a new line of toll houses coming out that are sort of loik the 3 series bm with, that will hit the millennial as they age into the 20s. our earnings are up 31%. our revenue is up 31% and announced our deposits forward looking to agreements are up 25% for the begin of the the quarter. i'm glad we are where we are. >> even though we baby booms

aren't ready to give up the ghost yet. millennials are your biggest customer base right now. but a lot of theme feel shut out of the market for various reasons. too much debt from student loan debt or credit is too tight noort enough homes out there for first time buyers who presumably would be millennial. are you future customers in question right now because they can't get into the housing market right now? >> well there is no question the millennial which is a huge generation and the number one birth year of millennials will turn 30 in 2018 so they are coming of age toene home that. starter home loan has been slower to recovery and because of the student debt and frankly because of the lifestyle. most are not settling down until 30s, and mid 30s. when surveyed more than three quarters of them want to move to

the suburbs when they have a family but it is not on the radar screen right now in the mid to late 20s as where generation. so they are coming to the market. as they get older they have less student debt. the balance sheet becomes healthier. and we're all going to be in position to take advantage of that and should provide additional great growth. >> on san jose doug, which had a remarkable story lately about turning down some development was a they can go longer support the housing demand for the silicon valley area. what kind of constraints are you facing in silicon valley and what concerns do you have about the housing or a tech bubble out there. >> i'm not that concerned about the tech bubble because if you look at companies behind this technology run for the most part they are solid, and making money and great growth paths 234 front of them. there is no question land is very hard to come by in northern california.

the regulations are very difficult to get through. to get land approved. and therefore with little land price goes you have. and there are many people being priced out of market. thankfully for our business we focus on the luxury end. our average house in northern california subpoena over $1 million. incredible demand. and one of the hottest markets and happy with the land holdings and the future out there. >> you have plenty of room to built out there doug? >> yes we do. we bought a very large company i a few years ago and have thousands of lots in northern and southern cal and continuing to buy more land. >> thanks for joining us doug. great to get your perspective on the housing market. >> thanks very much. >> doug yearley, the ceo of toll brothers. we have 10 minutes left and the markets staging a little comeback in the last couple minutes. s&p up 7, the naupz 13

>> wow. well that was worth waiting for as you set watching me talk to art cashin. the market on close orders are -- the bias is to the buy side: $1 billion to the buy side. >> that is why we came back here. >> so we are making a come back. maybe we will close above 18,000 today. we'll watch that as we inch to the close and the next guest says the real opportunity could be in the credit markets right now and he'll explain when we come backich pv ba by compromise, businesses need the agility to do one thing & another. only at&t has the network, people, and partners to help companies be... local & global. open & secure. because no one knows & like at&t.

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seven minutes in the trading session with the dow up 66. joining us is david liebowitz from j.p. morgan. what is the catalyst right now? >> i'm not sure there is a clear catalyst right now. there is a lot of macro uncertainty. earnings growth isn't great but yet the market continues to grind. we could sum up the entire bull market in what we've seen over the past few weeks. the recovery everybody loved to hate. so many people are skeptical i think that lets the market push higher. >> so much opportunity in create right now and and a year whether

ccc is up 18%. what is left? >> our view the growth is strong for credit. we expect you can walk away with your coupon. our view is equities can give you mid to high single distinct this is year. 6% coupon on high yield that is an equity-like return for me. >> even to get 6% you are talking about range. and we've noticed this a lot. people would love to take the coupon but what are they gets in terms of the quality here. >> that is the key. you don't want to over reach for the yield and drive into quality. but we still see opportunity. >> good to see you. we'll be back with the closing countdown in just a moment. >> then after the bill it is brad katsuyama, ten days from an

sec decision that could change his life and the stock market's. you're watching cnbc first in business world wild s&p

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kelly evans may be right again. >> we're going to lose it. it is not going to get legal today. >> two and a half minutes left. courtney reagan with me on the floor of the new york stock exchange. that is what we're watching right now. and this is trend lately just continue to grind higher. it is grinding, to use that term. right now with a gain of 58. 17,996. we'll see if we can pull this off at the close. other markets of note. oil continued to trade highs for the year. still above $50, $51.64. a gain of almost 2%. and the dollar continues to move lower. gold up almost 1.5% today. now at 1264.90. and the ten year note auction

today. the non dealer demand was a record and the yield was below 1 fnt 7 for a time but there it is at 1.7% at the moment. >> i think the commodities are giving a little support to the rally we are seeing. but it was interesting to see the energy sector fall off. the beginning of the day very strong and then one of the lagga laggards. the weaker dollar perhaps lent to corporate earnings getting strong ore. but it has been a slow drain higher and commodities. >> presumably because the fed feels unable to raise rates. >> frustration hardware reports --

[ applause ] -- hit to them. but how much you want to bet that when it goes the other way they don't get any freedom. >> maybe they use the weather this time. we'll see. thanks courtney. see you later. so look at that kelly evans. above 18,000 for the moment up 64 points. stay tuned for hour two of the klo "closing bell" and company. see you tomorrow kelly. >> thank you bill and welcome to the clozing belle. i'm kelly evans. finishing the day on wall street now. looks like the dow is closes above 18,000, adding 66 buoyants. just about 18,005. the s&p about the same magnitude. 2119, and the nasdaq up 12 to 4974. less than 1% from all-time highs

in the sapp in the s&p. coming up the sec is said to disease decide on making the investors exchange an official stock exchange by next friday. we're going hear from the ceo in just a bit. and first here is senior markets commentator and pro columnist michael santoli. and carroll roth and team seymo seymour. welcome one and all. we were down. ramped back up. 2016 has made everybody like they have no idea what they are talking about. >> without a doubt. we're almost four months since the low in february and every time you have gotten to one of these round numbers on on the verge of a new high the market has hesitated and gathered itself and said okay. is this when it ends? so far we're sighing i think the

i think the opposing currents are a lot of the things that have backed this rally are still in place. oil is higher. credit markets are firmer. rates are lower. the question is if that is good or not. the what is the global yield story telling ugt right now? and the o other side it's been a comfortable place to sell stocks. you have been rewarded for lighting it up when you have gotten to this level several times in the wlast year half. >> the s&p was only about 20 points off the all time intraday high. the nasdaq still about 5% shy carol. >> and interesting trying to get close to these highs again. same time trying to make sense of the context we're hear act the fed, the u.s. economy and the global economy. my hole is bridge mainstream and wall street not necessarily the day to day trades and i hear

from the average investor is this a good time to put my money into the stock market? i'm confused because we're hearing not good jobs reports. things are slowing. the forecast for growth abroad has come down. i don't understand why the stock market is going up. and you have somebody who's trying to filter through that it is very difficult. because one day it is oil. one day it is the fed. like you say sometimes the rates being down is a good thing or a bad thing and look at the yield on the 10 year and there is such a bifurcation and continual change on what's moving the market. it is very difficult for the long-term investor to make sense of it and i think that is something we all really need to be cognizant of it because that means a lot of the people who missed on the rally from february still sitting on side lines and we know the story. we've seen this happen before. it is just not a good thing for the retail investor. >> maybe the weak dollars helping a ligament here. certainly helping the euro at 114 today.

silver, gasoline. corn wheat oil as well. u.s. steel more than doubling year to dated by the way. what kind of environment is this? >> well i'm not sure it was an environment where commodity prices should have been trading down at 160 on the crb. they are now at seven month highs. a v shaped recovery in oil. and we obviously had supply issues. we obviously had a number of companies they think were telling you they weren't seeing the same kind of demand but the vooelt global oil aggregate continues to grow. you have china at least talk of and maybe they will or won't but removing some capacity from their oversupplied steel and iron ore markets is having very good for steel producers. you have seen stabilizing. and even in a market where yeahky agree absolutely with carol's call.

mainstream is not doing any better. the market is scary. but there are places where there are major dislocations i don't think were warranted so we're now looking at commodity prices that have bounced quite a bit and a market is almost at all-time highs and been here 18 months i think the pressure is on markets to go to the upside just because there is so much cash on the side lines and yields are in massive territory. becau not because it is a great market. but it is the market you have and that is the one you need to be trading. >> and -- up 45 points. >> some of the scll ib errors are doing well. i think it's okay. there are ways to support why we are trading where we are. i do note the vix which represents the demand for downside prediction and hedging has been sticky to this point. so i they lot of people are hedged up and not willing to say they were going blow through to

the new highs. that potential energy gathering up here. and i'm not quite sure if the earnings comeback story is not going to be proved or disproved for a while. so that is in play until the stretch valuations can be vooied either way in that context. >> ulta, crown castle. trading at highs today. broad swath they are of names thr quite cyclical. >> and a very positive sign. if i'm going to bring some positivity to the discussion i do like the fact that it is really across industries. you don't have a rotation from one to the other that you are seeing names across a number of different industries do well. so that seems to be more of a bullish signal. but, you know, i still go back to the issue that this is a

market that is not really based on the fundamentals of the companies and them being able to support the growth rates. so the question becomes whether it is an interest rate hike. whether we find the numbers out of china now go in the other direction because that is where they were a couple of months ago and then they changed and changed again. it seems like there is that catalyst and more potential risk to the downside. >> one of the most loved retail names has been apple. today interesting developments. re/code earlier talking about how the at boom is over. and then the news josh lipton was able to confirm coming to the app store. going interest 30% cut of app revenues to 15% the second year. and then what do you make of apple at a time when everyone seems to be talking about snapchats and others stealing share.

>> they are trying not to be a hardware company anymore. and it is going to be impossible to replicate the generational movement of the smart phone. what we're calling this. and we can talk about india and i'm a big believer there are markets apple is untapped in yet. but it gets to a place that you believe services and repeatable and software can be more than 2052%. the growth was 25% in the first quarter. the second largest segment for the company and growing dramatically what. do you want? they went from a place where they didn't have to focus on this part of the business. they have a eco system and client base that is ridiculously loyal and to say these guys can't execute i think you have to reconsider that one. it is not a screaming buy at apple but the valuation t pay back in terms of buy backs and dividends in terms of a company that is transitioning slowly but surely i think that is

interesting. >> as tim said. if you look at the multiple you are talking like 11 times pe. then you get the dividend and all the cash on the balance sheet and this is a company that is going to continue to make strong and smart strategic investments. that said if you are the mainstream investor and you are invested in index funds or in the market broadly or etfs you probably have a lot of exposure to apple already so might not feel a need to own the stock on a stand alone basis. >> do you own app store? >> i have the blackberry so i'm not really your target margaret market. >> are you in the app store? only as needs. i don't browse the app store. i try to declutter if anything. i try to find how my daughters reorganize the stuff on my phone into folders i don't really understand. >> and most of the apps people are using, the largest collection of them are actually ownered by facebook. >> exactly. and that is a concern it's even

overtaken twitter in terms of active users. just feels like this is its moment and unfortunately we can't talk about it as a publicly traded company. >> okay. well as we get some of the stories that really have been the place you are getting the growth the question you have to ask is facebook priced to perfection? clearly they are growing and the dominating digital ad. i would rather own apple at these levels than facebook and that is a valuation call. facebook is not crazy expensive but right now facebook can do no wrong and i think it is an overweight trade to be careful of. >> back to the broad market for a moment. finishing the dow closing above 18,000 for the first time since april 27th and about a percent away parra the 52 week high.

similar for the s&p, the nasdaq is a little weaker relative to highs. >> that s&p level, 2130 was the close last may. last july is the last time we were at this particular level right here. which i think maybe is going to remind people just how was we went south in july. we were at just about the all-time highs and then that nasty correction right there. basically people are looking at whether in fact pairing up today's levels and what's underpinning it with the s&p back in may 2015, i can spin and say we were about to embark on three or four quarters of negative earnings and traded at that level. right now we are at the same level and chances are you are going at least going to have a stabilization of corporate earnings. >> and at that level people were expecting to it continue to go higher and while the market has been great for very good traders obviously for people looking for kapt appreciation you are in the

same place. >> and weren't we in july 2015 very frustrate order concerned that the s&p hadn't had a major correction? and that in fact this has been a one way ticket up. and the market's going through this con flesance period. and after battling and the dollars down and 18 month view dients nosmgt so nur a place i think you have a better foundation and certainly have technical factors that say the market actually could go higher and that is still the pain trade for a lot of people out there. i think there are more money on the side lines that is in cash and feels now even today ecb buys bond, hey i have to be in the market and a break of 2130 i think will be powerful. >> shares of restoration hardware moving lower. cut guidance and last quarter really took a big chunk out of

that valuation. let's get to courtney reagan. >> restoration hardaway ware's first quarter they are posting a loss of 5 cents. analysts have been looking for a gain of 5 cents. revenues slightly beat aggreg l. comp store sells up 4% but also wloe con sens of 6.1%. a big cut to the full year guidance. really light for earnings. they did note they are still having some shipment delays. last quarter they launched a new line. they were saying the vendors hadn't really gotten up to speed to meet the demand. so that is what we have so far but the release is sort of long so we're going to get through it and make sure we don't miss other details and bring it ta back to you. >> thoughts mooikt? >> the street wasn't giving them abenefit of the doubt. just off lows a little but still a really depressed stock and not a lot of confidence.

this company has 75 stores. this is not exactly a vast network of override shoppers going in and out every day. so they still have not pulled it together for this time. of course online business as well. but i do think the burden of proof remains high these guys can capitalize on what's been a strong market for home-related goods. >> exactly. and i remember discussing this last quarter when the earnings came out. and that was the story. listen, we're changing to this modern focus. we're going to redo the inventory and we're having shipment delays and going into this new customer loyalty program. and i do think this is an execution story. and based on the fact they are doing this loyalty program which may make some designers not so happy to get the same kind of discounts as now they are giving certain customers and i think this is a name you need to wait until the ship gets righted to own it. >> and i think you are right but expect the fact i think the market is trading like as the

structurally broken story and it is not just a supply chain problem. supply chain problem i think is fixable. can the vendor outages are maybe relevant to the certain vendors. a terrible part of the story right now but the absolutely the price. the market is trading like these guys are no different than ayou yubiquitous department store or clothing store. and the valuation of this company trades at 9 times right now 2017. that is very very cheap. >> yeah. if you like the story. the 52 week high was 106 and now tradesing around 31. interesting opportunity. tim thank you. >> thank you. >> and be sure to stick around and catch tim seymour and the rest of the fast money crew today. now venture capital start ups. forcing more unicorns to go

straight for an ipo. and up next whether that is a red flag for the ipo market. and hillary clinton now set to face off against donald trump for presidency after becoming her party's presumptive nominee. coming up the late fres the campaign trail including whether bernie sanders will bow up. watching

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welcome back. once again pinterest is making the disruptor list. julia boorstin spoke with the company's president and joins us with the highlights. >> help people consume content and buy things. alternative to everything from walking through a mall to flipping through a magazine. >> we really believe that we can do for discovery what google did for search. we think a lot of discovery and most of discovery still happens off line. so off of your phone. and what we're trying to build is this digital catalog of ideas. >> and company has advantage of drawing premium ad dollars according to a report last week.

>> 55% of our users are here to shop for products. in the same report, only 12% of facebook and instagram said they were there to shop for products. so i think what it says is if you want to market products and services to users you better be on pinterest. >> pinterest's kendall says there is plenty of room to grow ad revenue but the company doesn't plan to move into online retail itself any time soon. >> it would make sense if a certain retailer wanted to get more value and find more customers that we could provide an advertising solution around that. but the idea of directly taxing everything that is sold on our platform, that is never going happen. >> you can find more views with the companies on the disruptor 50 list on cnbc.com. >> that disruptor 50 coverage continues at 5:00 p.m. on fast

money. catch the ceo and founder of venueiam coming uiam coming up. and joining us from the yale ceo summit. thank you allen for joining us. welcome. >> thanks for having me. >> we wanted to ask about this time story saying listen, venture capital is drying up for a lot of start ups and unicorns and they have to look to public start ups for an exit. do you agree? >> i think that is totally untrue. in fact i had a long discussion with the person who wrote that article. the private market is as strong as its a ever been. and frankly the ipo market is no longer the real alternative for exit farce lot of -- all our companies virtually. and i frankly am concerned for the unicorns that are out there today to really find an exit. because their only alternative is probably in the public markets and the public markets

are dead. and they better have the performance to justify living with the scrutiny of quarter for quarter performance. so we're all going to see what's going to happen with those companies. >> why do you stay public markets are dead? and what implications does that going forward? >> well look at the number of ipos since january. a handful or leisure leisuss. and the challenge of getting out in the public market today for a lot of companies remember who have been funded with a lot of money, talking about the later growth rounds. really referring to the unicorns. i think the smaller companies. for most companies in the venture business, major exit is through m&a transactions. i think that is going to can continue it's been that way the last decade and will continue through the rest of the year.

>> i think a lot of people point out the private equity,ere mostly transactional deal to deal folks and then went to running portfolios of companies and being operators alongside management. anything that has to happen in infrastructure capital investment in that direction? >> i don't think so. i think we've had a lot of venture funds out there. and i think the challenge is to value your companies realistically with the appropriate amount of capital so that you can get an exit through an m&a transaction and not count on an ipo as your exit strategy. and i think that is the intelligent way and i think most venture capitalists are coming to that conclusion. we started out ten years ago with the thesis that only a limited number of companies in the portfolio would ever go

public. and so far in 10 years we've had 20 exits and not one has been through a specific ipo itself. and we've done pretty well at it. >> others have gone public and frankly struggled. it's not easy to be a public company and a young tech one trying to find its way in meeting demands of wall street from quarter to quarter. so what is your advice? what what are you looking for when you tell a company you are the right candidate to go public? >> very good question. i think a company should go public when -- first of all it's got to be able to justify a market cap of at least in my opinion 3 to $400 million. when you go public grow public at 20% of maximum the

outstanding equity. so perhaps it is under a hundred million dollar amount of stock that is offered to the public and that is not a lot of money to create a lot of trading activity. so the first thing is to have a big enough market cap to justify. second think i you better be pretty sure for at least four and i hope for eight, but a period ahead of you where you are going to see consistent growth similar so what you have experienced as a private company. because the public markets are very discerning and very dpling. and you miss your projections for the next quarter or the quarter, all of a sudden you could see your stock in free fall and it's very hard to recovery from that. >> psychologically especially. since you are a the long-term ma media investorer what's happening in via come right now. via com.

isn't it equally important to loosen the founders grip over time to prevent things from happening like today with red stone from playing out? >> i think viewing from this from the outside. i do know redstone pretty well and i think some of the redstone created this enterprise. and it is tough for me to opine. i think the courts are going to be the decision as to why this goes. he built it. he's got a certain amount of stock. and this will get down to the specifics, whether his mental agility is still there and whether he's got the legal structure that entitles him to continue in the role he's got. and he's got a board of directors. and it is an interesting dlem. and i don't think anyone knows until it is decided in the

courts. >> is that going to be bad for shareholders long-term? >> oh i don't think so. this is a unique case. a man who built cbs and via com. two of the largest media companies out there. and that have had have good strong organizations. and i think this is probably a little bit of ego tied in here. and money is tied into it as always. and i just think well we're going watch it play out. i wouldn't -- this saying doesn't apply to, you know, nbc or time warner or all the other media companies. i think they will all take their own shape. rupert murdock has had a transition in his company primely to his sons and management he established. >> that is for sure. hoping for -- well much smoother transition.

allen great to get your perspective. thank you for joining us. >> thank you for having me. >> founder of greycroft. well, it was the future of nest the big focus at alphabet's shareholder meeting today? we'll get that coming up. >> but first it looks like a clinton/trump presidential rate race is all but a certainty.

well, hillary clinton

scoring huge primary wins on tuesday making her the presumptive democratic presidential nominee and setting up a the pretty epic ballttle wh donald trump. >> democra are celebrating hillary clinton's triumph in becoming the first woman win over a major american political party. but they still have some healing too do. president obama and harry reed will both meet with sanders tomorrow. and clinton herself tried to soothe sanders supportst last night. >> let there be no mistake. senator sanders, his campaign and the vigorous debate that we've had about how the raise incomes, reduce inequality, increase upward mobility, have been very good for the democratic party and for america. >> now donald trump also reached out to sanders supporters last

night. he's counting on their anger at narrowing economic opportunity that it matches the populist tone he's emphasizing. gu trump still has problems among fellow republicans over explosive comments about the trump university fraud case. today governor walker said he cannot support trump unless he renounces those comments about the judge and trump has not done so yet. >> is it good for him if he has the endorsement of the mainstream gop or does he just want to paint himself as this maverick. >> he needs the support of the republican leaders for this rin reason. it is the republican rank and file in overwhelming proportions that is vital to his campaign. so even if you peel off 5% of the republicans who would otherwise support the republican

nominee. people who would take cues from someone like kirk or walker or ryan that can sink a nominee. he needs unified republican support to win the election. >> thank you. >> time for awe cnbc news update. >> here is what's happening. at least three now dead and several injured in a shooting incident in tel aviv at a mall. members of the same family have been neutralized officials say which could be detained or killed. >> mar ra sharapova has been suspended for doping. nike telling cnbc they have no longer suspended her but have no plans to use her in the near future. firefighters in florida battling

a blaze on the roofer of a walmart. thick smoke could be seen rising from the building. the store of course evacuated. the cause not yet known. >> and preakness winner exaggerator has been named the favorite for the final leg of the triple crown. drawing the number 11 position. strat vary is the second choice at 5/1 with destined coming in at number 3 at 6/1. >> i don't get the miss spells of the horse names. >> i almost said strat variou s strat strat various strat various which i think is what it was implying. >> we sympathize with those calling it this weekend. thank you sue.

>> apple ceo tim cook, schultz and bezos all announcing big investments in india s is i s s. do the risks out weigh the reward . do the risks out weigh the reward you both have a perfect driving record. >>perfect. no tickets. no accidents... >>that is until one of you clips a food truck, ruining your perfect record. >>yup... now, you would think your insurance company would cut you some slack, right? >>no. your insurance rates go through the roof. your perfect record doesn't get you anything. >>anything.

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a small business in china. a business? they work nine to five. they take lunch hours. like a job? like a job. we tracked them. how did we do that? we have some new guys defending our network. new guys? well, they're not that new. they've been defending things for a long time. [ digital typewriting ] it's not just security. it's defense. bae systems. welcome back. so we finished a big day on wall

street. we closed above 18,000 on the dow for the first time in a couple of months. so 18,005 was the closing level. s&p up to 2119 and the nasdaq up as well. restoration hardware moving the way way after hours. reporting earnings and lowered forecast and shares are down nearly 15%. yand is the latest emerging market in focus. >> i'm pleased to announce amazon will invest an additional 3 billion on top of the 2 billion in 2014 bringing total investment in india to over 5 billion u.s. dollars. >> we've got a great partner with tata and doing very well

there. our growth in india is going to parallel the growth in china in terms of number of stores we'll have over the long, long term. >> india today has about 50% of their population at 25 years of age or younger. as the very young country. people really want smart phones there. really want smart phones. and this year, the first year lte begins to roll out. huge market potential. >> with all of these companies piling into the region what are the risks of betting on india? joining us is sri. we know some of the advantages. but what are some the key risks for people trying to do business in india. >> the main issue is yes prime minister mody was a great moderatoor for his home state,

just not mumbai. but if you look at the transformation and the move to deli, he is still battling with the hindu nationalists who would like the religion to dominate over the modernization process. that is one single big risk. the second one is that india is very much a fluid disorderly democracy. and when he tries to acquire land in order to develop projects to give jobs to people. the landowners in turn can sue the government. this is different from the chinese case. that is the second big one. third i'm a big admirer of the

man running the central bank. even though his term comes to an end in september. and i think if he's not reele reelected the market is going to take a hit. >> good point. >> all of these companies. we just heard from several that see the obvious opportunity to sell into india and the consumers and of course to do business there with educated english speaking workforce in large measure. what are the bottle necks they might encounter? in other words is the indian market prepared to make good use of all the investment and everything multi national companies want to place there? >> the battle necks are two field. one is corruption is very much present in the system. mr. mody is trying to eradicate that. he was successful in doing that in his home state when he was chief minister. as the much bigger task on the national ways to get it done. so corruption is one.

the second is, i would like to point out that as you have said, while indians have the english heritage can the british colonial heritage has been very positive in terms of english language being the common language, all over the country, mike. the indians also learned bureaucracy from the british and made it a lot worse. and that is something foreign corporate chieftains will have to deal with. >> what about the brand cache. we've seen that american brands hold sort of a premium and are really desirable. is that the same in india right now? does starbuck's hold that same level of cache across india is it. >> that existed when i was still a student in deli in the early 1970s. it is very different today. the indians at that time if you said -- the joke was you just

said to amade abroad. you didn't even say where it was made. they thought it was superior toe a domestic product. one of the positive changes that's taken place in the last 40 years is that indians have started to value what they produce themselves. and that is going to be a very big positive. and as far as a brand like starbuck's compete, they will have to compete with local brands. for instance, in terms of uber you have a local company called ola which is also very prevalent and indians are not going to choose a foreign brand just because it was done abroad. >> well if nothing else maybe that will help them develop their own market so people can overcome some of these hurdles that exist for the time being. >> exactly. >> thanks for joining us sri. >> thank you. >> now apple is holding its only shareholders meeting just days after the head announces his

departure. what's next is later. but first brad katsuyama who gained note rite after beioriet.

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real is an animal rescue. amazing is over twenty-seven thousand of them. there is only one place where real and amazing live. seaworld. real. amazing welcome back. we are ten days from the security and exchange commissions deadline on whether or not to approve the iex's bid

to become a stock exchange. it uses a physical cable to create a 350 microsecond delay which they say levels the playing field. if approved by the sec iex will join the ranks of the new york stock exchange and it's causing an up roar from critics who say it could destabilize the market. for more wire joined by the ceo of iex group brad katsuyama. what's going through your mind here with ten days to go. >> we'll feel pretty calm. i think we've done all we can. i think everything that needs to be said has been said and we feel thankful to be in this position and we've had a tremendous amount of support from pensions and mutual funds and citizens and i don't think

we'd be here if it wasn't for their support. so we feel thank and feel hopeful for the decision. >> if that decision comes through and it is a go ahead. what happens next? what does june 19th look like in terms of stock trading in this country. >> >> so we'll have to give the brokers time to connect. so you are probably looking at a mid august lunch for iex. it gives investors a different kind of choice. i think right now what you have is you have 12 k367 exchanges. and they are all relatively carbon copies of each other. iex is a different type of exchange. as the different alternative for investors. we have a different approach to market data, technology. a number of different things. i think we'll be fairly disruptive as an kpmp, which is why we've had so many of the existing exchanges lobbying to prevent us from getting approved. >> what has the market, since

you first thought there was a better way to do it. michael louis book flash boys highlighted some of the issues with high frequency trading and when that market was really booming several years ago. but have we come toe a place where it is less opportunity or different type of opportunity for a player like yourselves? >> i think the opportunity is still there. i think that for us it is really about counteracting a lot of the things existing exchanges too. i think many people are surprised when they hear trading isn't the number one revenue source from exchanges and they make more money from selling market data and technology than actually trading. and that's shocking. we look at the competition. we think we can be very different and we can be very disruptive and think that we can partner with brokers and clients. we have support from some in the high speed trade market to build a better opportunity. i think exchanges grossly

overcharge the industry for services they provide and we're looking to address that. >> that might be a good segue to talk about the retail investor and how they might benefit. mut fund, milliseconds is not really what's on their mind over the long term of their investment. so can you talk to that main street investor and tell them why this is necessary for them? >> so, you know, a lot of those -- you know, that retail order flow doesn't actually make it to the exchange. i think the big thing for the individual investor, this is about fairness. this is about at the point of sale, in the market, are all parties treated as fairly as possible. and right now the answer to that is no. i think iex does create a paradigm shift. our relationships primarily are with, you know, the mutual funds and pension funds, and the aggregated assets. we view them as mainstream america, too. they represent these investors.

you know, they have firmly come behind us and support us. so for that, i think this is a solution that's needed. and i think this is as much about principle and fairness as it is about the technical market structure as well. >> what happens if you don't get the go-ahead from the s.e.c.? >> i think there are a number of different options that we can pursue. we do believe that we have -- we had the case to be approved. we think what we had a lot do is precedent in different ways. we just combined them in a unique way that protects investors. there are many paths forward for us. we hope we are approved next week, obviously, but there are many different ways to solve this problem. there are many paths we can pursue. i think we're going to fully exhaust all the resources we have to make sure that this is the outcome we want. >> people are going to be in pursuit of you and vice versa. it will be really interesting.

brad, thanks so much for joining us. >> all right. thank you very much. >> brad katsuyama from iex. the dark side versus the light. all famous in epic views. as summer fast approaches, there's another one raging in offices nationwide. but first, alphabet is holding its annual shareholder meeting today and we'll tell you what happened next. ♪jake reese, "day to feel alive"♪

♪jake reese, "day to feel alive"♪ ♪jake reese, "day to feel alive"♪

alphabet holding its annual shareholder meeting today. one key issue wasn't addressed. josh lipton has more. >> that's right, kelly. if you were hoping alphabet executives today would talk about the recent news surrounding nest, then you were disappointed. eric schmidt highlighted the

strengths of the smart thermostat maker. >> we have millions of people using nest thermostats. we have a whole product line of 12,000 retail stores, and growing 50% year over year. faster than the overall company. >> shareholders did not ask schmidt nor did he volunteer any insight or information about the sudden departure of nest co-founder and ceo tony fidel, who just left last week. fidell did not give a reason for his exit. it came after some very tough reports, highlighting colleagues who complained about his micromanaging style, blamed him for a lack of new hardware, key personnel also recently leaving nest. schmidt did not address any of these issues. instead, he actually highlighted nest as one of the alphabet businesses he's most excited about in addition to google fiber and self-driving cars. >> josh, there you have it. thank you. josh lip ton.

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ask your doctor about cialis and a savings card. summer months, and you know what that means. sweater season, thermostat wars

are heating up. the survey done by a sampling company, found 3 in 5 employees tamper with thermostats without telling their colleagues. the same number of participants used person fans because there is a major split that everybody's aware of including those who work on this floor, the guys are freezing, the guys are hot, the girls are freezing. >> that's right. >> that's why we all have to walk around in these -- >> it's a fair criticism that internal temperatures are optimized for what guys are wearing. i actually will completely cop to that. i'm walking around in this uniform all the time. and i'm unusually uncomfortable on the floor. >> i actually run warm. i have to say if you're in the split, you can layer on more clothing. but at some point you only have so many pieces of clothing you can take off and then it becomes highly inappropriate. what would you like those people to do. >> it's called mike in a sleeveless shirt. >> just go the other way. but the other thing is, putting

on a sweater is not a passive/aggressive move toward your colleagues. >> by the way, we know these thermostats aren't really responding to what people are doing to them either. but that's another story. that does it for "closing bell." "fast money" begins right now. "fast money" does start right now. live from the nasdaq market site, i'm melissa lee. tonight on fast, one top technician said he's identified, get this, a disturbing trend that can take us even higher. plus, trump versus clinton, it's getting realer by the day. how do you position your portfolio. our traders have some answers. later, gold closing at its highest level in three weeks. that's got peter shift very excited. he will be here with his craziest call yet on the yellow metal. but we start