pre-dispositions. >> i agree. >> there mar or may not be, culturally. >> we mentioned bitcoin hitting a new record why is bitcoin hitting the new record highs >> where is brian sullivan you know where brian sullivan is his native state he'll be there tomorrow, wisconsin. >> the profit marcus lemonis will be spending tomorrow with us "closing bell" right now >> and welcome to "closing bell." i'm sara eisen here for kelly evans at the new york stock exchange. >> i'm bill griffeth i'm still trying to figure out what melange means ty just used it right now. >> happy birth dawe to you. >> happy birthday to us. >> different years, just so you know. >> we can still celebrate together. >> and we are. >> it's deja vu again for the marks. the dow on track to close at a

record high for a ninth straight day. we're up 11 points right now and if you're keeping score it would also be the dow's tenth straight game. >> nine records and ten games, and the s&p is in record territory. the russell is not though. >> hand neither is the nasdaq. >> but it is coming back today strong. >> so we are keeping a close eye on all of those and the possibility of more records being set today. >> all of this despite increasing tensions between the united states and north korea after the u.n. imposed new sanctions on the rogue nation. coming up, we've got the latest on north korea's threats and whether they could derail the rally. what it looks like from here. >> yes all that's happening and, of course, the vix falls below 10 today. >> it takes a lot to spook the markets these days. >> crazy. >> the sense of calm continues. >> and more earnings cbs highlighting today's after hours reports. tonight, instant analysis of all of those numbers and a debate on whether you should be buying or selling what used to be called

the tiffany network. peter costa remembers when they used to call it that, right? >> let's start with nock's threat to retaliate against the u.s. after the united nations imposed those new sanctions on the rogue state over the weekend. kayla tausche is down the road at president trump's resort in new jersey are we calling this the northern white house? what is this >> it's the summer white house, bill mar-a-lago and palm beach is the winter white house the president has been here since late last week, but national security issues are quickly coming to the forefront of what's being called the president's working vacation this summer. this is the threat from north korea as intensifies the president spent roughly an hour this morning discussing the issue with his chief of staff, retired general john kelly and secretary of state rex tillerson. he also took a requested phone call last night with president moon of south korea. details of both of those calls are unclear as are the next steps for the u.s. following

that unanimous vote over the weekend on new and tightening sanctions on north korea by the u.n. security council. tillerson in asia told reporters that the u.s. is open to negotiating, but north korea would need to cease its missile tests in order to do so. >> they can demonstrate they are ready to sit with the spirit of finding a way forward in these talks by no longer conducting these missile tests, so this is not a give me 30 days, and we're ready to talk. it's not quite that simple >> reporter: but to say that north korea ruled that out is probably an understatement speaking at the same conference in asia, north korea's foreign minister said the country would never bring its nuclear program to the negotiating table, and it's ready to teach the u.s., quote, a severe lesson if the u.s. takes military action north korea, of course, not the only issue simmering of late though deputy press secretary lindsey

walters told the president that he would be visited by senior health care advisers to discuss taxes and health care. there's a deadline on saturday by which the administration has to decide whether to keep paying health insurance companies to provide obamacare plans and then, of course, a tax plan expected out sometime this fall so there's still a lot of work to do on this working vacation guys >> yeah. the president says he's still at work, making calls and taking meetings it is too rainy today for golf kayla, thank you. president trump tweeting yesterday, just completed a call with president moon of south korea. very hammy and interested with 15-0 united nations vote on north korea sanctions. >> joining us to talk more about the implications and effectiveness of the sanctions, scott simen is with the eurasia group where they focus on north korea and you don't have sweaty palms over the sanctions and everything why? this seems to be -- they are

stepping it up right now on both sides, but you're not worried, why? >> you know, if i had sweating palms every time the north koreans threatened to turn the u.s. into a sea of fire i'd have to take showers i guess more frequently than i do. >> i agree, but eventually they are going mean, it don't you think? >> well, what they are saying is they feel as if the u.s. is preparing to invade north korea and overthrow the regime that's the narrative that they are spinning, so everything that they do, they say is only in response to the kind of the bellicose behavior of the u.s. or south korea or japan or any of their -- of the other allies. so i don't think it's necessarily significant that we're seeing more of that rhetoric however, these sanctions are designed to really squeeze the regime and make it much more difficult for it to get the kind of money it needs to continue its weapons development program, so there is more pain being

dished out and the north koreans are starting to really feel more cornered. >> let's talk about that, scott. for an expert on the region's economy, this sanctions bill, as i understand it, target their exports. how big is their export sector what sort of products are we talking about? how big of a financial impact is it going to have real re, is it going to be $1 billion wound that cripple think ability to keep going with these missile tests? >> so the figures that we're working with are that had the exports coming out of north korea amount to about $3 billion in hard currency every year. that's, you know, the best estimate that we can come up with and a lot of that is coal. a lot of that have is iron/or. these are all things that are currently being banned under the new sanctions regime that they put in place they do all sorts of other kind of interesting exports like statues. they make really amazing large statues that are -- that are put

up in places all over the world, and that's one thing that they have moved to restrict, so, you know, there are a lot of ways that the north has found to diversify what it sells the world and to find any customers that make it difficult to keep squeezing them with these sanctions, but, if in fact we're looking at maybe a third of that money disappearing every year, then it will be tougher for them to spend money on weapons. >> but as we all know a wild card in all of of this is china which to this point has been reluctant to pressure pyongyang anymore than they already have, even though the united states has threatened china with trade sanctions at the same time so even though the u.n. may impose these onerous export sanctions on north korea, china could make up the difference for them, couldn't they? >> they certainly could. there's a lot of monitoring

going on, certainly much more than we've ever seen before, using satellite imagery and often-the-ground resources to make sure that these sanctions are not only put in place but fully observed, an one part of the new sanctions package on saturday was a requirement that within 90 days the signatories to it, the people of the countries that approved it have to provide information to the u.n. that describes their efforts to comply with the new sanctions, so nothing is foolproof, and as i mentioned north korea is incredibly ingenious in finding loopholes and new ways to get money. >> right. >> but it's getting harder and harder for them to get away with things. >> scott we've got to run here, but i'm curious. very quickly before we go. when will you get sweaty palms >> i will get sweaty palms i think when we're seeing some sort of military buildup in northeast asia, where we're seeing a lot more movement of

u.s. troops, materiel. we're seeing more plans put around, evacuation of the u.s. citizens in the area. >> okay. >> we're not seeing any of that. so, you know, a lot of rhetoric and preparation and planning >> seeing missiles launched that can possibly reach los angeles, seattle and denver that sounds scary enough. >> they have to be able to survive re-entry and carry warhead and have to be able to hit a target they have long-range missiles now but the other capabilities are still something they are working on. >> all right scott seaman of the eurasia group, thank you appreciate your insights. >> thank you let's get to our closing bell exchange. a slight up day today, and we're headed to record territory for the dow and s&p. chris johnson from johnson research joins our "closing bell" exchange today we've got new york stock exchange trader peter costa from

empire executions and rick santelli joins us from the cme in chicago as well you know, i read your notes, peter, the way i read federal reserve notes. i comb through them. >> that's the best compliment you can get. >> that's great. >> i noticed a slight difference, and you know where i'm going with this. >> absolutely. >> in the past you said you were shorting this market the latest note says you're not shorting this market. >> you know what, you're looking at the supposed goldilocks market and it's really not too hot, it's not too cold the fed probably will be putting offration rates until december, i think, if not later, and earnings have been getting better and better and there's momentum in earnings. >> you're not ready to buy yet. >> you know, i'm always looking for a bargain, you know. that's -- and i haven't been able to find any, so i do think there's going to be some sort of pullback it's just natural. part of the evolution of a market there will are some pullbacks.

on a pullback i'll be back in the market because i do think going forward to 2018, i think the market is going to do a lot better next year. >> chris, if earnings are the driver here for stocks, i wonder how we're going fare this week getting media earnings today with cbs, under pressure with cord-cutting and at the end of the week department stores like nordstrom and macy's and jc penney is the market going to get through this leg of the earnings season and continue to make new highs? >> i think it is actually. when you look at the retail sector rights now, that's the most hated one out there look at best buy, they knocked the cover off the ball everybody was on the short side of the market with best buy. analysts hated the stock it took off. it's an exact mirror image that have situation right now for a lot of these etailers. technically they are turning around and they are improving. my fear here though is when you look at earnings, historically you'll see a little bit of a run-up, usually about half had a percent, maybe a percent in the

week ahead of earnings on the s&p 500 companies. right now we're seeing an average of 4% of a rally ahead of an earnings report, and all of those stocks, majority of them, it's over 67% are selling off more than 4% after great earnings numbers what that tells me is when you listen to peter, too, the traders are out there and they are alive and well in this market we've got a lot of buy in the rumor and they are selling the news people are locking in profits. i have to agree. i think at some point the earnings scale is going to tip a little bit we'll get more of a correction that's going to be the time to start getting in this market is still a little bubbly. >> meanwhile, rick, you know, we were just talking about the standoff with north korea right now, and even with all the heavy duty rhetoric here, the dollar index continues lower today. the yields on the treasury are steady here. is the market telling us not to worry, or is it still in some sort of monetary base-induced coma here? what do you think is going hon >> well, i think it's impossible

to read geopolitics out of market pricing these days. i just can't do it it was difficult in bigone times. it's number more difficult these days, especially considering the state of volatility, but i think we have learned something. we had two pretty decent back-to-back numbers with regard to employment. friday wasn't bad, and what did we see we saw stocks continue to do better dollar index had a big day friday, didn't give it back even though it's down just a bit and interest rates came off of what really was the beginning of a slide that could have tested the low yield close of the year around 213 not by much, a couple, three basis points i still say the stencil is in place. one thing i haven't heard any discussion of is that the fed could be a little bit more aggressive than the market and many participants are thinking about it at this point, especially considering the employment situation i think if you have to watch one market, i would consider to say the dollar index will keep you

on the right side of just about everything i think a key level to pay attention to, should we continue a bit of an upside right around 94.5 we're still well below that, but we're three-quarters of a cent off the low close thus far for the move >> one factor that some say are pressuring the dollar, i know rick doesn't agree, peter, is the political uncertainty. it is worth hitting, and the president mentions it often on twitter, the dow is up 21% since the election. >> yes. >> what is the status of the hope trade on deregulation, infrastructure spending and tax reform at a time when we're going into two very key deed lines around the government shut down and debt ceiling? >> so glad you asked the question originally that was the move on the market, the anticipation of all three being enacted within the year i don't think any of them are going to get done this year. what you've seen is the market rally on earnings, which is where the market should be you know, any time you see a stock reach its all-time high and its earnings are beating

expectations and their forward guidance is beating expectations as well, i mean, of course, the stocks are going to go up. i think that's where the market is the market is betting on earnings continuing the momentum i don't think people believe that any of the president's policies or attempted policies are going to get enacted this year i think repealing obamacare has become a lot harder than they expected having sort of tax reform, i think it's imperative, but i can't see it being done this year, and the infrastructure spending, that bill should have already been on the table and they should have start that had and they haven't got to it yet. >> all right. >> these are coming up. >> very good. >> thanks, guys. appreciate it. peter, chris johnson. >> thank you. >> rick, see you guys all later. >> thank you. we've got 45 minutes left in the trading session here the dow trying to close higher for, what did i say, a ninth straight record. >> a ninth record and tenth session of gains, but it's really the nasdaq today that's leading for a change, coming off of two weekly losses. >> yeah.

you've probably heard of this anti-diversity man photo written by a goggle executive that has created controversially in silicon valley and raises debate over why google doesn't have more female workers. >> seeks shares are up 20% over the past year and flat sonar 2017 coming up we'll debate whether to buy or sell this media stock ahead of its earnings report later this afternoon. >> and want to hear from you folks, reach out to us on facebook, twitter, send us an email, call peter costa, whatever you want to do. you're watching cnbc which is first in business worldwide. time's up, insufficient we're on prenatal care.es. and administrative paperwork... your days of drowning people are numbered. same goes for you, budget overruns. and rising costs,

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plus signs across the board for the major averages and the dow and s&p are in record territory. nasdaq wants to be there the russell is not there, but we'll see how we close out this monday meantime, shares of aerospace supplier rockwell collins have been surging on reports that united technologies is in talks to buy that company in a deal that could be worth more than $20 billion. shares of utx have been under pressure on those reports.

meantime, teva pharmaceutical shares have been falling after morgan stanley downgraded the stock from underweight to equal weight and slashed its price target to $16 from 36. trading now at $18 citing generic drug prices patterns teva shares have plunged 19% since last wednesday when it reported weaker earnings and slashed its own earnings outlook. sara >> it's been difficult for that company. google is responding to a controversial anti-diversity memo written by a google engineer josh lipton has all the details. josh >> reporter: that's right, sara. the memo has upset many people here in silicon valley the google engineer who has not been identified argues that the lack of women in tech is due in part to biological differences between the sexes saying differences in distributions of traits between men and women may in part explain why we don't

have 50% representation of women in tech and leadership some googlers were clearly angered by the memo and daniel brown, google's new vp of diversity saying it does not represent google's views we're unequivocal in our belief that diversity and inclusion are critical to our section as a company and will continue to be committed to it for long haul. and the article also said the company alienated conservative employees, and the ceo schmidt clearly disputing that. >> we operate the company under the principles that david and kent and i have outlined the company was founded under the principles of freedom of expression, inclusiveness and science-based thinking, and you'll find that all of the other companies in the industry agree with us. >> now, according to google, women make up 20% of

tech-related jobs at the company. it's 19% at facebook and 2% at apple. bill, back to you. >> all right, josh, thank you very much. let's talk more about this joining us here at post nine is luke visconte ceo and founder of diversity, inc joelle emerson is with paradigm, a silicon valley company that works on did iity issues joelle, let me start with you. the question that we all get to eventually and i'll start with you is why -- i mean, google is a good example i guess 80% in their tech division are men to 20% women overall in the company it's 61% men, 39% women why is it that way still >> well, i can say for sure it has nothing to do with biological differences or who is innately capable of becoming an engineer it has a lot to do with cultural barriers that have emerged in

technology companies, barriers that send a message to women, to people of color that they are not welcome, that they are not going to belong and bias and discrimination that emerge once people are in companies that affect things like who gets hired, how does work get distributed and how does performance get evaluated, and there's a wealth of research that for women there's a huge attrition problem. women leave tech companies that more than 2x the rate of men as a result of these cultural barriers. >> so this is a problem that silicon valley has now been struggling with, luke, for a while. it will came to light after uber and the sexual harassment allegations and now this you rank all sorts of companies. where do the big tech companies rang >> most of them don't participate in our rankings at all. companies volunteer to submit its data to us in a survey hundreds of companies do but none in silicon valley >> knowing what we do about google, 80% men in tech and women? >> they would not make the list. they are not competitive. >> and 25% in leadership positions are women. >> if you look at our top ten,

40% in leadership positions are women and 40% of the top 10% highest paid people at those companies are women, and that ranges from ernst & young at number one we have marriott pwc, kaiser permanente, big companies, different industries, all with the same statistics for women. it's a matter of management and accountability >> joelle, from your vantage point, has the company done enough to respond here >> i think that the kind of broad remember question is how is silicon valley as an try really going to respond? this isn't just an issue of google it would be a mistake to have the takeaway saying there's one person with a problematic perspective or even one company where the problematic perspectives exist we she all over the industry from people with majority group backgrounds have an aversion to efforts around inclusion that companies ren gaging in so any company whether it's google or

any other organization where the views start to be shared needs to sort of decide how it's going to respond is the that going to accept -- is it going to tolerate really the distribution of ideas that there are biological differences between genders, or is it going to make really clear that the views are unacceptable >> how would you like to be danielle brown, brand new vp of diversity at google, on the job two weeks. hadn't even sent a memberor, around to introduce herself and had to respond today. >> i think the ceo should have been in front of this to say what our values are, what we stand for. it's not okay to shove somebody out there. >> what about disciplinary action, or is this protected by freedom of speech? >> is it freedom of speech to say i'm a nazi or at google i, i don't believe in web search. is that freedom of speech or just silliness >> idiocy. >> that -- that loses some credibility with meal right there. >> i don't know. >> women are different than men. i have a wife, two daughters,

there's no doubt in my mind about it my succession plan, i'll be succeeded by a woman there's no doubt does mean that you have less than 50, or does it mean you should have 50%, and what does say about their revenue streams outside of search and ad sales that they can't seem to develop anybody. maybe some women would help them with that. >> i would hope the conversation we make more progress as well. thank you both for joining us. >> certainly got a lot of media attention. less than 45 minutes to go before the closing bell, and we're seeing stock drifting a little bit higher here in the session. the nasdaq is the standout, the tech-heavy index back and the russell 2000 of small caps which have been underperforming the dow over the last few weeks is outperforming, up.02% and sprint is picking up the phone again to talk to t-mobile about a possible marger. up next, we'll see if we can finally see a deal get done here. and we'll look at which

defense stocks could increase from increased u.s. missile defense spending and increased threats coming from north korea. we'll get to that coming up.

just moments ago on the floor of the new york stock exchange there was an ovation for some of the gold star moms and there are fathers here as well who have lost children in

the armed forces during their service, and we -- we honor them as they did here at the new york stock exchange today meantime, sprint and t mobile are reportedly talking again about a possible merger. sources this time say the companies restarted discussion after sprint's exclusive negotiating period with comcast and charter communications ended in july. the ceo of sprint owner softbank continues to weigh a potential offer for charter, and today he spoke about his interest in telecom and ride-sharing at softbank's earnings meeting. >> we are interesting in discussing with uber we're also interested in discussing with lyft we have not decided which way but the u.s. srmis a very big market it's a most important market, so

we are definitely very much interested in the u.s. market. so whether we decide to partner and invest into uber or lyft, i don't know what will be the end result, but we are definitely interested in it >> one thing i will say about mr. son, not only are americans becoming more familiar with him. he was at trump tower. >> right. >> he's investing in the united states he is an ambitious man we know from some of his big bets about i read in the "new york times" he was the first japanese telecom exec to bet on the iphone when it came there, made an early big bold bet on alibaba and let's see what he's got shaking out with wireless and t mobile. >> the deal with t mobile broke out apart when federal regularitiors wouldn't threat happen. >> hand now they add charter to the mix. time now for a cnbc news update.

>> here's what's happening at this hour. general motors recalling roughly 800,000 pickup trucks worldwide, most of which are in the u.s the vehicles can suffer a temporary loss of electric power steering the israel involves the 2014 chevrolet silverado 1500 and the gmc sierra 1,500 pickup trufnlgts afghan authorities tightening security in kabul where foreign embassies and government offices are located it follows a string of suicide attacks. the new measures come as the trump administration wrestles with formulating a new afghan strategy. a massive landslide took place in southwest china on sunday causing a major road to be blocked for three hours that's cell phone footage which showed people fleeing from a large dust cloud generated by that landslide amazingly no one was hurt. and white lion quintuplets born in may are thriving in a czech republic zoo among the litter is one male and four females less than 13 are estimated to

live in the wild while only 300 are in captivity they are beautiful so now there are five more which is great news. that's the news update this hour guys, back for you. >> who was the character in "lion king." >> was it simba? >> simba. >> thank you, sue. >> you're welcome, bill. >> and kenny polcari is here from o'neill securities on the floor of the new york stock exchange with the dow up 16 points, and the market just is still on automatic pilot. >> it is on automatic pilot though it's very, very quiet no data, president on vacation and congress on vacation and no drama coming out. >> you've got this drama with north korea and this is the kind of market when it is so quiet that you can move it and it's more volatile and less volatile. >> less volatile and today we're in the middle of august going into the last couple of weeks of august earnings are really over and it's going to be an event like that that's going to catch

people just off guard, that's going to be a catalyst for had a move one way or another and as much as you thought maybe north korea was going to create some anxiety today, the fact that china signed onpoured really steps up to the fact that china is getting tired of this, too, so, therefore, maybe it won't get as out of control that maybe the market thought it would be. >> thankfully the earnings are good enough that they are supporting this market. >> they are supporting it for now and once we start with the macro data late suggest and september. tends to be a volatile month let's see. >> i sound a little skepticism there i hear. >> just a little bit. >> we'll see what happens. thank you, ken polcari sara >> less than 30 minutes to go before the bell, and we've still got the dow up about 15 points in terms of who is adding the most, goldman sachs, boeing and apple. the sector soaring more than 20% this year. up next, find out if text stocks

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investor leon cooperman is making a big bet on alphabet. >> 4%, 4.5 of my fund is

alphabet, google, whatever 18 times earnings. growing 20% and has zillions of dollars of excess cash in the balance sheet. the only negative is that it's owned by evidence. >> that includes some td ameritrade clients, too, because alphabet was also a net buy for clients of td ameritrade during the month of july and as investors gravitate towards companies with fast earnings or price growth, value investing is seeing one of its worst stretches on record right now. but joining us to talk about what his plans for buying and selling last month, the chief market strategist at td ameritrade not just alphabet but microsoft as well. >> seen a lot of months with apple and facebook, and they weren't there. it's interesting that you bring up value investing our imx measuring what our clients who trade at least once a month. do they also bought ge and at&t.

>> speaking of value. >> that's what i -- i just wanted to make sure, so speaking of really underperforming value actually. >> yeah. >> so i think one of the main takeaways is -- there's two takeaways, number one, our clients, the level of the imx is the highest we've ever seen. the clients have the greatest exposure we've seen overall. six months in a row buying and the market at all-time highs and many may say, oh, my god, they are all going in at once and it's been very grad yawl, toeing the water to knee and now mid-waist. people are still getting exposure and there is still a place for value investing and where the stocks resell they reinvest in some of the stocks that have been truly like performing. >> how big are these stocks relative to where they have been >> if you look at the big-cap technologies, they are still widely held overall, sara, but what's happening in between is, you know, to say that somebody is just a value investor i don't

think is right in terms of the retail investor. they combine different styles. they may have some longer-term investments that are as we would call more value investing, but in the meantime they are getting in and out of stocks they have been well served by being in the f.a.n.g. stocks. >> you're saying it's not all in f.a.n.g. stocks. >> not at all. >> you look at stocks like bank america. one of the most widely held stocks by our client been held for quite a while. >> right. >> so, again, it's not just all about the f.a.n.g. stocks, but i think people are smart enough where when there's been something going on, they have been in and out of these different stocks, apple being an example. people sold on its first run-up and rebought it about five months ago so it's actually worked out. >> here's what they sold, nike, general motors, twitter, cat, caterpillar, wells fargo the dual of aquaria and arconic. >> and if you look at nike, looking at the millenials, what

the millenials did different than most of our client, millenials were also a seller of under armour when nic he that gap jump they sold nike and then quickly thereafter started selling >> are they buying adidas? >> not outstanding >> that's a hot brand right now. >> it is, that's interesting millenials on some brands they may be more familiar with than the general population, it was interesting that they were sort of a leader in the under armour selling overall. >> great stuff always love hearing what your clients are doing. >> thanks for having me and happy birthday. >> thanks so much. we've got 19 minute left in the trading session with the dow up 15 points, trying to hang on to a record. brighthouse financial is making its market debut today suffering some declines. when we come back, we'll take a look at the first day of trading for this metlife spinoff. and the bitcoin boom is on the digital currency seeing record highs today coming up, wt's bendhahi

bitcoin's latest drive

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points gets ever closer, and the russell is far away from its all-time high. >> really technology and consumers staples which are the strong sectors in today's session. brighthouse financial though, the u.s. retail life insurance and annuity business spun off from metlife and began trading on the nasdaq today. cnbc's morgan brennan has been tracking the stock's one-day performance and joins us now doesn't look so hot, morgan. >> yeah. i would agree, sara. a bright red for brighthouse financial, bhf trading down 5.5%, trading at $61 a share one reason for this, unlike its parent company, the spinoff does not pay a dividend meaning forced selling by funds, that has metlife shareholders receive stock in brighthouse now on "squawk box" this morning ceo saying this spinoff creates two very different companies with very different risk profiles as a pure play retail life insurance and annuity

businesses, brighthouse is levered to interest rates. asset management and international life insurance is now about 40% of the company's businesses, and in other words brighthouse is high beta likely to appeal to deep value investors and metlife is now a simpler story, less market sentivesity and better cash flow generation and likely accelerated capital return to shareholders few earnings surprises are tied to unexpected costs from the spinoff which has been in the works since early last year and which, again, weighed on met shares last week, so if you take a look at shares of metlife. they are up more than 1% on this, brighthouse down about 5.5% sara >> ouch. brighthouse, by the way, is ringing the closing bell at the nasdaq today. >> all right. >> happy birthday, by the way, guys. >> oh, thank. >> you thank you very much. >> thanks for coming to our

party. less than 15 mitts to go before the closing well. is that what we're having today here >> two hours of fun. the dow is up 17.5 points, the s&p 500 is the higher. the nasdaq the star of the day, up half had a percent and even the russell 2000 index of small caps is bouncing back from another week of losses last week. >> and the party really gets under way in less than half an hour when cbs releases its latest we have a bull/bear debate over the value of owning the number one rated broadcast tv network when we come back. because, when you really, really want to be there, but you can't. at cognizant, we're helping today's leading media companies create more immersive ways to experience entertainment with new digital systems and technologies. get ready, because we're helping leading companies see it- and see it through-with digital.

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shares of cbs getting ready to report their earnings after the bell, and right now they are trading up a fraction. $64.18 they announced that it's come to an agreement with at&t be available on directv now live tv streaming service. >> so should investors be betting on the media giant joining us to debate it ahead of earnings is alan gold from rosenblatt securities and tom egan from telsey advisory group. good afternoon to you both alan, i'll start with you.

so much going on, changing habit, potential m & a adjustments. this has been a flat stock could the stock get a jolt today? >> thisquarter won't be an exceptional quarter. the reason i like cbs, number up, the biggest growth area in the media business is the affiliate fees, the biggest growth area is retrans and reverse comp and cbs is the most levered to have. on top of that, les moonves has done a good job positioning the company for the new media world, has the best advertising and has the best programming, has done a nice job with the all access, and now with the directv they are on all the skinny bundles which you really have to be on going forward. >> tom, why don't you like it? >> well, you know, they are going to have probably -- they are going to post a pretty decent number but a lot of that is because of the ncaa, so if you back out the advertising from ncaa an the extra nba games, ad revenue will probably

be flat. >> what's happening with ad revenue over the sector? viacom shares dipped sharply off its reports? cbs is still 50% revenues coming from that. >> it's 50% and going down each year it's been a tough environment in the ad industry and for the traditional media companies on average, advertising is down 1%, 2% on an ales-to-apples basis for the second quarter. >> tom what, were you going to say? >> what we're shearing that most media companies are talking balance very healthy numbers out of the up fronts gains at cpm fees and volume, but when we see the actual numbers they haven't been so good, and we're actually seeing this at the advertising agencies themselves we've heard this out of ipg and omc. a lot of their clients just aren't spending. >> and alan, they have a rather complicated ownership situation with viacom and the relationship

there. is that a positive or negative for you? >> for me it's not really a big issue. i still think cbs could still be sold summer redstone or the family controls both vie cam and cbs. viacom is almost like a child to sumner it's a passion of his. i don't think he'd sell. cbs is more of an add-on i think cbs may be too small to compete with the big internet companies going forward. the catalyst will be the next nfl contract, and i could see cbs actually being acquired as part of the transaction to position for the next nfl contract over the next few years. >> cbs, tom, has been a very much go at it alone and comfortable and confident in that position. do you see it as a potential buyer or seller or neither >> you know, that's a good question i see them more as a buyer i mean, you know, it's very rare that media companies buy broadcast network. i see them more as a buyer

i would love them to buy either lion's gate or the studio out of sony to alan's point, one thing i'm concerned about on the retransmission which has been a huge benefit for the company, later on in the year they have to renegotiate with charter, and charter is a tough -- a tough player in that front. >> right all right. gentlemen, we've got to go apparently have some breaking news here, but thank you for your thoughts on seeks, and we'll get those earnings from them next half hour to see how that works out that breaking news is regarding adp which was talked about earlier today. sue herera is stepping in with that what's going on, sue >> what's happening in an exclusive on reuters, apparently pershing square capital management is going to nominate three directors to adp's board which would include its ceo bill ackman to sit on the board of the human resources outsourcing company. basically they also will not call for the ouster of adp's ceo, carlos rodriguez, but they

indicate that they are happy at this point to work with the company's management as long as it's open to, quote, significant changes at adp, so they are going to propose directors, one of whom would be bill ackman bill, sara, back to you. >> thank you leon cooperman was on "the halftime report" taking bill ackman to task for criticizing >> saying he won't win this one. >> we'll see what happens. thank you, sue. >> you got it. we'll come back with the closing countdown with the dow up 29 points. >> and the united nations approving sanctions for north korea, but it has -- will it stop the sabre rattling from dictator kim jong-un coming up, what all this talk means for defense companies in the united states. sissreatincn, rsin bune worldwide

just inside two minutes to the close here and the dow looks like it will close with another record it would be the tenth up day in a row, but the ninth consecutive record, if you're keeping score at home there, and the s&p will also be at a record, but let me start with the vix here. you know, we talk about the sabre-rattling going on with north korea, and they are threatening now and reminding everybody that their icbm could reach the continental united states and, of course, the vix would drop i mean, it's that kind of a market whether it's just in a monetary

policy coma but we're back below 10 on that here's the dow, and i want to show you -- i mean the to -- i'm sorry, i was going to show you all nine up days and that's just today. there we are now in a record with a gain of 23 points oil today, you know, opec and non-opec countries are meeting right now trying to enforce compliance of production cuts which has not happened, and the inventory data lately has been bullish, but price of oil down today at $49.31. seema moda joins me here as we get ready for the earnings we mentioned cbs will be coming up, but also marriott and twili yeo. >> reporter: marriott higher on news with their contact with alibaba. 135 million chinese took prescription last year and

that's expected to push to 150 million. trip advisers, norwegian cruise lines and priceline, that will be a big story as well earnings, geopolitics, a focus today. >> super tuesday. >> and happy birthday, bill griffeth. >> thanks so much. go out with good measure on that birthday i'll be back here in just a second with birthday girl sara eisen in the second hour of the "closing bell. and welcome to "closing bell." i'm sara eisen here for kelly evans bill will be back in just a moment here's how we're finishing up. another record day on wall street the dow going out with a gain of more than .1%. that's a new record high the s&p 500 also making its own record high close. 2480 didn't take much, but that will do it, up about a little more than a tenth of a percent. the nasdaq was actually the star

of the show all session long strength and technology again, names like apple, facebook, nvidia, the chip company nasdaq closing higher half a percent. russell and small caps closing in the green three key earnings reports we're waiting for after the bell, cbs, marriott and twilio all reported we'll bring you the numbers as soon as they hit the tape. joining us on today's market panel cnbc markets commentator as always michael santoli. lurie navalier, chairman and founder of navalier and paul blank at zachs investment research welcome to all mike what, stood out to you in today's session, tech and consumer staples seem to be the leader >> big tech had half a percent gain in the nasdaq it was the outperformer, and when this happens it's when bond yields are backing off big growth stocks are acting like in an odd way kind of bond proxies. i don't think that's really the

only reason they are going up. it's because the market has a faint upside bias. for two and a half weeks, we've held almost exactly still on the s&p 500, but today was a very slight incremental gain to a new high i feel like it's very tough to get bearish with the market at all-time highs, but it's as if the market wants to hide its strength in the this extremely quiet action >> what kind of signals are you getting when it comes to company earnings and guidance and stock reaction to earnings beats which is another factor we've been talking about? >> today was a big day because last week when apple was making new highs, we had a little correction under the surface and all the stocks exploded today. in fact, i should be up over a percent today, and the new market leader is really navidia, stunning earnings in a couple of weeks, and we should count on that to carry the whole market higher. >> john blank, here we are yet another record close for the dow, now for the s&p as well are you seeing any signs of wear

and tear anywhere in this market >> no, i'm not actually. all ten sectors in the s&p 500 earnings are up very strongly, and the biggest thing, bill, got to keep an eye on is the beat ratio is a record high, an looking over 12 quarters, it's about 45%. the average beat is at 60%, 65% and that's true for both revenues and earnings, and you've got this underlying strength that's so broad-based and we haven't seen that, and that's what's keeping this market aloft in a very steady upward trending motion it's all based fundamentally on fundamentals. >> i would agree that it's certainly fundamentally supportive, but you can turn that around and say you've had better than expected earnings inning a great, and the market has kind of just trucked so it's almost the flip side of saying the vix is down when north korea is all of a sudden acting dangerous. >> i know i'm harping on that but i'm fascinated as a longtime market watcher, but not nearly as skilled as you are.

what do we make of this seeming dichotomy that exists? >> the old story about the old thyme umpire when the rookie says a ball or a strike and he says until i call it it's nothing. until there's no incremental news about a geopolitical threat, it's not a story and that's where we're at. not a lot of incremental news about the fact that once again we have strong words going back and forth. >> just to be reminded of their capabilities with their icbms. >> nvidia is going to carry the market, as the key to this market >> sure. >> is that a thing and what does it say about this kind of environment? >> well, let's go back it's a stunning earnings environment, stung but the good earnings come out early and nvidia reports late as does web co which is a chinese twitter, and then finally altrua which has been beaten up a bit i'll lock at all three stocks to give the market its second wind.

nvidia has much better earnings than a lot of flagships. f.a.n.g. is a big deal and i have more money in nvidia. >> that's why jim cramer named his dog nvidia. >> semiconductors up 11.75%. >> people are worried about this divergence between mega caps and small caps also where these multi-national companies and the dow were way outperforming the russell. is that a dollar thing >> that's one of those things you can quibble with it's been a selective hit-or-miss market under the surface. half of all stocks are in the broad s&p 1,500 below the 50-day average. had the periods in the past where the broader market has kind weathered it and carried higher the s&p has a date with 2500 and then we reassess. >> cramer named his dog nvidia. >> what if it goes down 50%, does he change the name of the dog, goes back to awful belt >> it's a bullish thing and he called it early that dock has been an absolute moon

shot. >> the that's a commitment for that we're waiting for cbs earnings, john blank do you like them what's your expectation? >> i think it will be pretty good the last four quarter on the surprises have all been positive about 5%, so i think you'll look at a good number, but the bigger story looking mayorout versus cbs, they are both making $4 a share this year and when you say on the cuff of things that should be the same price stock and cbs traded about $60 a share at 14 times earnings marriott is trading at 25 times earnings, about $106 a share, so what you've got here is cbs is not showing this market to growth and the growth is what this market wants and that's the whole thing. >> well, let's see what they are saying because their earnings are just out and julia boorstin has them how do they look >> hey, they have beat on both the top and bottom line. cbs earnings beating estimates coming in at $1.04 adjustments

per share versus estimates of 98 cents a share. revenues 3.26 billion versus 3.09 billion estimated some interesting commentary in this release here from the ceo les moonves saying they are seeing the benefit of their recent skinny bundle deals with google's youtube tv and hulu and part of directv as well. they are also announcing that cbs all access and showtime ott, consumer direct services continue to grow beyond their expectations and are on track to surpass 4 million subscribers by the end of 20617 they are also announcing they will be expanding all access into the international marketplace starting with canada in the first half of 2018. of course, this is a way for cbs to reduce its reliance on the traditional pay tv providers as well as on the advertising business as they diversify we'll hear much more on the

call shares up about half a percent guys, back for you. >> kind of a muted response. what do you think? >> apparently the return of "twin peaks" on showtime boosted ott subscriptions dramatically according to moonves. >> the reboot of "twin peaks request the request the. >> moonves always managing to have encouraging words his message is we're the best positioned immediate can a company for the new world and likes to accentuates the points that underscore that idea. i think the market is going along with that. i just feel as though nobody is quite sure how fast this stuff is going to move into being revenue. >> is it m & a speculation just had a whole conversation with that is cbs a buyer or sell or either and is the shift in consumption over the top and subscription model at a time of great change >> my take is it's the shift and kind of the emotional swings in terms of which companies is more hat risk or better position, and

i think cbs has been in a good spot i just don't know in terms of new news whether these results will change that message at all? >> is cbs on your radar screen >> no, a lot of excitement about media because at&t is going to spin off cnn. >> you think so? >> the politics? >> that and just pressure. >> john blank, very little what have we heard so far from julia on cbs, anything >> yeah, did i hear something. the thing i picked up is $1.04, above $1 is real news here i would be surprised on the open is not much higher because would i expect, like julia pointed out, 98 cents, we had an accurate estimate and our best analyst was at 93. this is a ten-cent a share beat on that. >> okay. >> i think it was good news and also you're looking at this -- at the back to the marriott point. they are going to push this

international stuff and the markets aren't believing that. that's the path forward for cbs. >> something we'll get to the when marriott comes out. twilio is out with earnings, and josh earnings has those numbers. josh >> julio reporting a loss of five cents the street was expecting a loss of 11 cents, and on the top line, up 49% to 95.9, the street model around 86.2 million. looks like more than 43,000 active customer accounts as of june 30th comparing to 31,000 in the year-ago period. turning to the guidance, twilio expects a loss of seven cents to a loss of eight cents. basically in line. the street was at 8 cents. revenue 91 to 93 million, stronger than expect the the street was 82.7 million and the current full year expect a loss between 22 and 24 cents the street was at a loss of 29 cents. 371 million to 375 million

the street was at 363 million. the conference call kicks off at 5:00 p.m. eastern. back to you. >> up 14%, somebody liked something. >> still down half of its peak overall. >> the stock went from 70 to 24 in about eight or nine months and it's been on the repair since it's getting in the mid to the direction of revenue not an earnings sfry so kind of an expense you have bu teenage tech stock. >> oil prices are falling as opec members meet again nor be a baby whack jackie, what's on the agenda >> hey, sara, these are to provide compliance with the prior opec deal, expended through the next year. while compliance was high last january, the weaker countries have not been able to hold out and they have slimmed again.

while no headlines came of the talk today the market is posing, that maybe opec will back off of the supply cut lather than continue to meet the reduced production quotas. and the other factor holding us close to 50, getting closer to the end of the summer, the summer driving boost will go away and then prices will fall watch u.s. production figures. last year at this time 8.84 million barlgs a day up a million barrels and it could be a problem for prices as we could go back to the low 40s, guys. >> thanks for that setup joining to us talk about opec and oil prices is the managing director and editor of rbc capital market strategies. nice to see you.

>> thanks for having me on. >> so what do we expect from this key meeting of opec producers and non-opec producers, and how will it impact price trading just below the key level now? >> yeah. i think the problem is, as jacksed mentioned, just met in st. petersburg and couldn't solve theish iu of oversupply from opec members, so i don't expect them to come out and announce plans and discuss rising libya prices. they were exempted from the original deal and they have surged back and they can find a way, this is going to be a persistent problem for them, and how do you consider some of the nations that are struggling a bit. >> what actual little could save opec is probably venz will and we are news out today, they are

pulling -- that's what you want to watch for to see what clearly saves opec this year. >> owe spec not a cartel any myo. >> it will only cut back it suits their interests. opec's bus is really driven by saudi arabia so as long as the saudis are willing to anchor this deal with russia i think you'll still have a substantial cut. countries like ecuador walked out of the deal but some of the smaller nations are not complying. why emphasize libya. they were never part of the deal, so they will have to be brought into the deal to make this thing work going forward, but actually compliances held up better than actually expected initially. >> h ha lima, i wonder just exactly how resistant is north american production right now to price changes, so essentially

this presumption out there is it's just a steady beat of supply as long as the debt markets are financing production at this level. nothinging is going to change. is that the world that we're if i guess until further notice >> i think short cycle has changed everything so i naem size the country like venezuela. let's say we do lose significant volumes out of venezuela and real high lie what happens if you do get venezuela production rolling off and you've hopped back up significantly higher, you'll just have another wave of u.s. producer hedging so you would have more production come on in 2018 so you do have this volatility in the oil market that we didn't have before, because this u.s. production can bounce back with hedging, so once you get above 50, do you get producers hedging, and you get that production back on that is a challenge for opec never the next couple of years, absolutely. >> so what's your year-end target for wti >> yeah, we're still looking for the low to mid-50s for wti

again, what could take us higher is venezuela losing some big production out of a country like that, but you see us pretty range bound barring some political upsite story >> thanks for checking in on this news day for an opec meeting. >> and an earnings report that wasn't on the agenda, lending club morgan brennan, must be good the stock was up. >> a solid report for second-quarter results earnings in line with estimates. the company reporting a loss of one cent per share as expect the. revenue better than expected though revenues of 139.6 million versus consensus estimates of $136.4 million. here's the reason the stocks are really jumping right now both the revenue guidance for the current quarter q3 and for full year 2017 were a bit above estimates. the company did raise its numbers for both revenue in the current quarter and 2017, and as you can see right there, lending

club shares are trading up 7% in after hours on this solid report guys, back over to you. >> all right thank you, morgan. see you later, and we've bid adieu to louie navalier who is in the house and i know because there's no palm trees behind you and john blank, thanks for joining us today as well appreciate it. >> discovery, the name of the new "star trek" series that cbs is counting on to bolster its new streaming service. when we come back, more about the earnings we'll see how that new service is faring as well as the network's other units as well. >> no one sees the sabre-rattling around north korea these days as good news, but some companies and their stocks may soon find themselves on the front lines of defense. that story is straight ahead you're watching cnbc, first in business worldwide these days families want to be connected 24/7.

that's why at comcast we're continuing to make our services more reliable than ever. like technology that can update itself. an advanced fiber-network infrustructure. new, more reliable equipment for your home. and a new culture built around customer service. it all adds up to our most reliable network ever. one that keeps you connected to what matters most. we've got another earnings alert for you, this one on avis. morgan

[ an has the results >> reporter: hey, sara, so a big miss for avis. the company, the rental car company reporting earnings of 30 cents adjusted that was a 25-cent miss versus estimates. revenues also disappointing at 2.24 billion versus 2.8 billion which is what the street was looking for. the outlook, 2017, eps outlook, very weak for the company as well that seems to be part of what's pressuring the shares so much in after hours market $it.40 to 2.85 versus 2.82, it estimates from the street. though guidance i will note slightly above expectations. the company saying second kwurlter results in america has resulted in a 4% decline in pricing. this was due to, quote, industry overfleeting and oversupply and higher costs due to used vehicle values back over to you >> morgan, thank you mike, i mean, you could have seen this coming after the hertz global report came out. >> exactly. >> this industry is hurting right now. >> the whole group is in rough

shape though avis was outperforming hertz recently. >> well, they try harder >> in the past month and a half. exactly, you and i remember that. >> anybody else here >> is that the slowing hane? >> used to be, yeah. >> they were number two so they try harder it's obviously a reminder why people hated the group and they are potentially still presenting at an investment conference tomorrow or wednesday so we'll see if they have anything. >> you didn't know that slogan has it been that long? >> i thought apple would come in and have partnerships and save this sector. >> apple rented eight cars or something. >> a weird little trial thing. uber is among many other things is hurting them. >> all right so cbs, is out with its earnings shares are nearly flat though after being up about 1% in after-hours trading. there it is. now it's actually turned negative joining to us talk about it. david dietz and i bet you're

going to bet on this. >> i thought it was relative to expectations the up front season was growth and the growth in skinny bundle fees and retransmission all great, but nevertheless very strong headwinds here in this legacy broadcast tv business earnings beat, but they are just what they were last quarter. revenues are better than expectations and flat a year ago so you're not seeing a whole lot of growth here. >> rich. do you disagree? >> yeah. my firm is 10x research now, by the way. i disagree if you're buying cbs or any of these traditional media companies you're probably doing yourself a disservice. i like to think that this is a $990 stock in two years, $128 stocks over the long-term. now, does that mean you can just buy it anytime it doesn't mean that it means you have to be smart about it and buy value when you see value and perhaps after

earnings there is a time to do that, but what are they going to talk about on the call today they will talk about aptv. ap bundles, skinny bundles over the top. huge for cbs they get a chance to sell advertising to companies like netflix and companies that are bear hugging technology like domino's pizza and live nation they get a chance to sell content to netflix, hulu and amazon, and they get a chance with their own programming to not only sell to their current market which is represented by over-the-air broadcasts and roughly 100 million cable households, but households that are not surprised in that 100 million such as international households okay, what i would like to see is progress on the divestiture and would like to hear them say something about cnn. i think the company buys cnn and that deal gets done sometime next year providing the platform

for cbs to expand internationally. >> second person talking about cnn in the last 20 minutes, interesting. >> honestly, it is in play and everybody is deciding how all the pieces in media will fit together. >> i wanted to throw numbers at you. it looks like in this quarter advertising revenue grew 6%, something at a smaller percentage that it used to even as the advertising market maybe slows down and the subscription fees, that growth, it looks like it was 38% year over year for the cbs business. >> they had a great up front season, but, you know, you just don't know how much they pulled forward from the next quarter which is going to face tough comparesons because you won't have the political advertising and the political retransmission and so forth, i like that. like a big legacy retailer saying our online division is groping by leaps and bounds. not the main part of person. here's the simple fact nielsen reported for q2 overall

broadcast tv viewing down 12%. that's a tough headwind to go against, and i know people are talking about all this speculation. it's all up toone man, sumner redstone, and at 92 he's a legacy but it's not going to be an easy decision. >> can i disagree. >> we've got to go at this point. i've got to go, my friend. i'm sorry. we blew your company name and have to cut you off because we have to move on with other stuff. >> you just owe me now. >> david dietz and rich who is with 10x research now. >> happy birthday to you both. >> thank you so much. >> thank you. >> appreciate it. >> the march of the algorithms continues. picture -- perfect pictures before you even snap a photo are now possible we'll explain what we're talking about here next. >> and marriott's earnings are due out shortly but the stock has been climbing higher today thanks to a new marter inship. the earnings and the deal we'll

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we, the people, are tired of being surprised with extra monthly fees.

we want hd. and every box and dvr. all included. because we don't like surprises. yeah. like changing up the celebrity at the end to someone more handsome. and talented. really. and british. switch from cable to directv. get an all included package for $25 a month. and for a limited time, get a $100 reward card. call 1-800-directv. and then there was marriott. their earnings are just out. seema moldy has been waiting patiently for them how did they look? >> it's a beat from marriott, the world's largest hotel chain operator $1.13 adjusted the street was looking for $1.02. revenue at $5.8 billion. that also higher than what wall street was anticipating helped by stronger performance in europe and the asia-pacific region the company also adding roughly

16,000 rooms during the second quarter, including nearly 2,300 rooms converted from competitor brands hand more than 5,900 rooms in international markets we know international is important for marriott after announcing today that joint venture with alibaba which experts say will help them expand their footprint into china. specifically the chinese online travel market and also want to point out the stock not doing a whole lot after hours and this is a stock that's already up about 45% year to date we'll be on the conference call and be sure to get you all the details around the alibaba venture as well as the acquisition of starwood. back to you guys. >> certainly investors seemed excited about it seema, thank you. time now for a cnbc news update with sue herera hi, sue. >> here's what's happening at this hour, everyone. new york city mayor bill de blasio calling for a millionaire's tax to fund mass transit. the proposed tax targets the city's wealthiest 1% the funds would provide half-priced fare cards to low-income new yorkers

>> we need a millionaire's tax so that new yorkers who tip clip travel in first class pay their fir share so the rest of us can get around, so the rest of us can get to work, so the rest of us can live hour lives here in this city. it's a matter of fairness. >> the remains of a victim of the nevin attacks on the world trade center has been identified the victim is maryland and is the 1,641st person identified in the ongoing efforts to identify all 2,753 victims. the name of the man is being withheld at the request of the family the host of the popular tv show "top chef" arriving at federal court to testify against four boston teamsters. padma lakshmi said that they threatened and harassed her and the show's non-union crew back in 2014. you are up to date that's the news update this hour guys, happy birthday to the two

of you. >> thank you. >> appreciate it. >> just different years. >> just different years, that's it >> go out and have a cocktail together, there you go. >> thank you >> we should. >> if only we could, yes thank you, sue. >> hey, look, kids, it's time for fast take. first up, tesla selling $1.5 billion in debt as it ramps up production on the model 3. elon musk said that the tesla faces manufacturing hell on the company's conference call last week, and now they need to pay for it. >> uncharacteristically promising. >> just throwing out some interference. >> i mean, everyone knew tesla at some point down the road will have to raise a lot more capital and continues to consume a lot question was whether it sells new stock or debt. not that much more on top of the debt, about 8 billion that tesla already has. the market is tolerating this okay maybe they didn't want to give

it more shares out on the market for short sellers to cover down the road. >> hand they also had had the manufactured retail price on the model "x." >> hand they keep the focus on the production side. how many they can produce and assuming the demand is there that might being the question at some point. >> they have more than 450,000 orders so far on the new model three. >> yes. >> some being cancelled publicly. >> there are some. phil noted that in the earnings call netflix buying comic book company mill earl world behind comics like "king's man" and "old man logan." they plan to develop new could be tent based on "miller world's. and two things were said they want the talent and, two, going after the disney. >> the disney playbook is to kind of own the intellectual property and own the characters and the story sets, and then you can do kind of multiple things now, of course, disney is selling you toys and t-shirts in

addition to making shows and movies, but netflix is definitely following this path it's a logical extension of them being very ambitious on original content so it's original content having proprietary stuffer, and if they are projecting down the road, netflix wants to know exactly what its content outlays are going to be, right that's the advantage don't want to be having to bid on the open market if you want to know roughly what your subscription revenue will be. >> i'm wondering when the aptitude for comic book content wears out, too. >> that's a good question. >> and people thought much longer >> marvel has gone to the wealth too many times and kind of going deep into that universe, we'll see. this is a distinct of brand and netflix can get by on narrow appeal. >> d.c. comics in 1968 and marvel in terms of variety. >> back when avis was trying hard.

>> finally google created this algorithm that, gets this, edits your photo before you even take it the lightning fast a lg o retouches any image 50 times in one second, transforming your snap so quickly that you can see the edits before you click the shutter. wow. >> this is a selfie generation, so -- >> exactly. >> and presuming it's may, they have seen how people ed ate hand use their photos in real life. kind of impressive how do you monetize that >> like apple every time they release a new camera. >> maybe the phone will be almost as good as the blueberry. >> bitcoin is on a tear again.

investors showing new-found confidence in the digital currency after the split helped to take it to an all-time high more on the bitcoin boom and what's driving it ahead but first the war of words with north korea is intensifying as the trump administration prepares a plan of action. we'll tell you what it could mean for some big defense companies next ruined our hawaii fund? i thud go to the thothpital. there goes the airfair. i don't think health insurance will cover all... of that. buth my fathe! without that cash from - aflac! - we might have to choose between hawaii or your face. hawaii! what? haha...hawaii! you might have less coverage than you think. visit aflac.com and keep your lifestyle healthy. aflac!

so could how we finish the day on wall street, a couple of records again, the dow, tell me again, sara the tenth consecutive update but the ninth consecutive record close. >> you got it. >> thank you. >> and this is a record for the s&p, 50. >> didn't even move my lips when had you heard that and the s&p also in record territory. nasdaq higher, a gain of half a percent, not a record. same thing for the russell moving on. there is no bigger mistake than the united states bleaching that its land is safe across the ocean. that is the latest fillet out of the official korean central news agency that came out this afternoon following new u.s.-backed sanctions from the united nations over the weekend against north korea. this comes on the heels of recent news reports of iran successfully launching a missile into space. >> so as this geopolitical

pressures month, the u.s. missile defense program could see an increase in spending. joining us now with what it means for defense companies is roman schwizer, the aerospace and defense analyst. so give us a few names that you're on this north korea story. >> the thing you have to can have is long term the u.s. has to defend against this threat so there's only one program really geared towards this. there's four companies, boeing, for throb grummond and averill atk who are the three prime movers on the program and have been since 2001. >> how up to date is that system, roman, and how often is it used or tested? >> it is used not often. it is tested semi-regularly, but they are actually -- there actually was a successful test

on may 31st of the system, first intercept of an icbm-type target and specifically the kind of threat that -- that the missile defense agency would presume would come out of north korea through the 2020 time frame. so, you know, you had the test on may 30th and then you had sort of a quick success of the two north korean tests in july >> roman, how sensitive do you think that these stocks are going to continue to be to the day-to-day headlines on potential hostilities and things like that. they have already been so strong already sort of an expectation that you would get a pretty decent bump in overall defense spending is a lot that have priced in or are there incremental benefits that the u.s. will see here? >> clearly, there's a geopolitical risk premium. you know, every day you look at the headlines and there are four key areas whether it's europe, iran, the middle east, north korea or even china in some cases. but, you know, the trump

administration is proposing and would like a big defense increase in fiscal '18 and a bigger review is planned for fiscal '19, sort of in in the budget-making process. i think two cat lifts on missile defense. one, the senate actually earlier this summer in its budget proposal for fiscal '18 almost proposed doubling that gmd program, double the interceptor sites based up in ft. greeley, alaska, and the pentagon had actually kicked off in may of this year what it's calling its ballistic missile defense review increasing missile defense was a trump administration priority, and so that's exepected to repot out by about the end of the year and north korea and iran recent launches definitely raise the stakes in that regard. i would say protecting the homeland from these kinds of threats is a bipartisan issue. it doesn't break along party lines, and any administration, whether it would be trump, clinton or anyone else would be moving in the same direction.

>> well, congress is going to have to hammer all of this out after the august recess before october 1st to avoid a government shutdown to get that budget going what the kind of increase are you looking at realistically and politically for defense spending in particular? >> right i think the defense hawks have proposed a significant increase. senator john mccain, congressman max thornburgh in the house. they are looking at something well to the 15% to 20% range, you know, an annual $640 billion a year i don't think politically there's the wherewithal to get to that level. it's really going to boil down into some -- some deal-making between the house and senate and really it's probably going to come down to moderates on both sides of the aisle figuring out what's doable, both in terms of defense spending and non-discretionary defense spending, a target of cuts by the omb director nick mulvaney,

and that hasn't sat well with either side of the aisle. >> roman, thanks very much. >> thanks very much. >> bitcoin reaching record highs over the weekend and surging another 4% today the cryptocurrency has climbed more than 450% over e thpast year what's behind the run coming up? i put everything into my business. and i had all these points from my chase ink card. so i bought ingredients, utensils, even made custom donut cutters.

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the cbs conference call is

underway les moonves is talking about sports, among other things julia boorstin, what are you hearing him say? >> well, ceo les moonves kicked off cbs' earnings call with a number of headlines about cbs' growth in the digital space and also commitment to making more money from digital distribution. he just announced a new digital direct to consumers sports subscription service that's in the works. >> later this year we will roll out a 24/7 live streaming channel like cbs n for sports as part of our ongoing strategy it does not yet have a name. we think sports fans are looking for something like that, and that opportunity is significant. >> moonves also announcing that the company's previous goal of hitting 8 million subscribers combined for cbs all access and showtime ott is conservative because it's already on track to surpass half of that number. 4 million subscribers by the end of this year he also announced they will be

expanding their new ffrmt app cbsn in skinny bundles as well as offering it individually. there's definitely a lot of bullishness from moonves in the beginning of this cbs earnings call and even weighed in on nfl saying they are working together and are confident that ratings will improve from last year. we'll jump back on and let you know what else he says. >> we saw that take a toll i think earlier in the year. >> this just in the, les moonves is bullish julia, thank you. >> tends to look at the bright side i do think he has a case to make that they can play offense even if it seems like it's defensive, right. they have a decent franchise they are least exposed to the cable bundle arguably in terms of their networks and the most able experiment with things like over the top. >> they have such a deep bench programming-wise. >> right. >> that they can use that content for a lot of these digital programs. >> sports is interesting because for so long sports was the holy

grail, right, and then all of a sudden. >> it wasn't. >> had a question about espn and disney and the rising competition for sports writes from companies like amazon and twitter and everybody else and it sort of remains an open question about where it goes. >> there are a couple of years really a few years i think before you get the big cycles coming up for the rights bombing due. right now they have written the checks and you might as well try to get revenue across every platform to defray that cost maybe the stock will start to trade again with nfl ratings and not all the futuristic stuff and do i think they can continue to make the case that the stock is not defensive. >> it was that march matness finals and selves that boosted overall ad revenue for this quarter. >> bitcoin is surging to record levels and it's a different story for its recent spinoff bitcoin cash. >> not following the fork in bitcoin. >> you'll hear my thoughts on

that coming up. >> oh, goody coming up on "fast money," chip stocks soaring again and one top technician sees him something in the oc tt ntstkshawas him to have to fade the rally that's coming up on "fast money. on, insurance companies won't pay for damages. that is, not if they can help prevent damages from happening in the first place. at cognizant, we're turning the industry known for processing claims into one focused on prevention with predictive analytics, helping them proactively protect the things that matter most. get ready, because we're helping leading companies see it- and see it through-with digital. won't replace the full value of your totaled new car. the guy says you picked the wrong insurance plan. no, i picked the wrong insurance company. with liberty mutual new car replacement™, you won't have to worry about replacing your car because you'll get the full value back including depreciation. switch and you could save $782

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hi there, we have an earnings alearn on tenant health care morgan brennan, you're wizbusy >> a miss in quarterly earnings for tenant health, hospital operator reporting a loss of 17 cents per share, a penny worse than expectations. revenue, $4.8 billion, also missing versus the $4.9 billion that analysts had been anticipa anticipating company also lower ereered guid,

full-year guidance in terms of revenue and earnings and says it's doing that because of lower volumes and also greater uncompensated expense. in other words, more people aren't paying their hospital bills so shares of tenet right now are down 10 % in after-hours on this big earnings miss and lowered guidance guys, back over to you >> ouch. that's one to watch. morgan, thank you. >> yep. meantime, bitcoin has gone the other way surging above $3,000 more than tripling in value for the year seema mody joins us with what is behind the recent moves. it's always tough to explain what's behind the bitcoin move. >> it's tough. we have been speaking to a number of analysts and those considered experts in the new emerging asset class, as we call it it broke 3,400 today a new record high for a bitcoint being attributed to a' le relie rally. last week was a big moment for bitcoin, a software upgrade which resulted in a split. so there are two competitive currencies in the bitcoin world,

bitcoin and bitcoin cash thankfully at least for the bulls, bitcoin held on to its value. there were no technical difficulties that's why this has been seen as a relief rally one of the reasons we've seen bitcoin move higher. it's gained about 6 $600 since friday it's up over 400% year to date the question is, if it can move any higher i mean, there's a big debate among analysts as to whether central banks, governments will really start to embrace bitcoin and use it as part of their digital infrastructure i mean, i attended some conferences in june, sarah, and the indian government was there. the australian government was there saying that they're looking to see how they can incorporate bitcoin, how they're exactly going to do that, still up for question. but in india, they have the de monetization act. modi is trying to push the digital cash idea amongst people. >> japan is doing it >> japan, too, recognizing bitcoin as a currency. so the early innings, these

signs show reputable countries and companies are looking to bitcoin. the question is how they will actually incorporate it into their infrastructure in the meantime, bitcoin continues to move higher to put the move into perspective, mike, i think you'll like this, bitcoin now worth nearly three times the amount of 1 ounce of gold. at 3,349, that's the exact number of days bitcoin has been around, your stat of the day. >> now, see, that would bother me. >> good. >> that would bother me, it would seem as if this is all kind of a game and everybody's -- >> wait a minute. >> it's the fans -- >> wait a minute, you weren't bothered before this >> i don't know if i was bothered by the general movement but i think there's genuine questions do be asked about is it really a currency -- >> no. i tried. >> right. >> in day. >> actually living off a bitcoin, not possible. i tried the challenge of living on bitcoin for a week. very few vendors actually accept it i went hungry many nights. no, i'm kidding. i found a way. the point is, there's liquidity

there now in interest. as soon as there's not, there's no government or central bank that's going to come back this up. >> no regulated body that's a big fear. >> all right we got to go thank you, seema. >> thank you, guys happy birthday. yes, cbs and marriott kick off a busy week of earnings. we'll preview some of the other big names coming up after this stay with me, mr. parker. when a critical patient is far from the hospital,

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this is certainly going to be a busy week for media and retail earnings. we've got disney reporting after the bell tomorrow. mike, what are you watching here all about espn again >> obviously, disney, mostly about espn mostly, of course, always going to be questions about the success process, to ceo bob igor that's been pushed off a little bit. yeah, i think the market kind of is saying, okay, we got it on this earnings season between disney and the front edge of retail earnings, we're going to start to get a little bit of a, you know, sight line into how the consumer made its way through the half year. >> i saw blue apron on thursday, too, that will be interesting. >> snap. >> that will be some drama there. by the way, guys, the closing bell team wants to be the last to wish you guys a happy birthday and i think they put a little something -- >> look. >> -- together for you there. >> so nice of kelly to take off

today to let us have her birthday shift together. >> we went to all lengths. i don't think they got enough candl candles. happy birthday again. >> how many do you need? >> for neither one of us. >> that was the diplomatic way to do it. >> thank you, all, for the birthday greetings on twitter as well we appreciate that also wilford frost, our cameraman. >> that is "closing bell." thank you, all see you tomorrow. "mast ffast money" starts nw overlooking new york city's time square traders on the desk, tim seymour, brian kelly, steve grasso, guy adami. united technology reportedly looking to buy rockwell collins. what price subtraders see the deal getting done for. plus one left for dead dotcom bubble stock quietly made a new all-time high today. we'll give you the name today and tell you tow to play it. later bitcoin surging to a new high