actually happened. very rare for that to take place. not many examples of it. of course some plays like the sound of music have been taken to television and done live. >> the metropolitan opera. >> takes live shots. thanks for watching power lunch. "the closing bell" starts right now. it's time for "the closing bell," everyone. dozens of companies reporting numbers today. we'll break down the key numbers and movers and get you ready with at&t reports after the close. nasdaq another record day for tech with all-time highs for alphabet, facebook and microsoft. how long can this tech rally last i'll have details. the white house rolling out $12 billion in emergency relief for farmers caught in the middle of trump's escalating trade war. i'll have the latest and i'm sara eisen in for

kelly evans. we'll tell you about pepsi's new partnership right now. good afternoon and welcome to "the closing bell." steve grasso is here with us he's a good man. told sara how the balk was too fast today the dow jumping triple digits. the session is paired back and now up just 150 points there was a more pronounced intraday pull back for the other indessies. the nasdaq now in negative territory. >> july starting out to be the best month actually. we'll begin with the earnings pulosa and our reporters standing by to wrap up all the big market movers.

julia, we'll start with you. >> that's right, verizon shares beating expectations on top and bottom line this year with full year guidance that surpassed expectations about 1.5% higher. the nations wireless carrier added 200,000 new phone connections during the quarter as it works to grow consumers on its unlimited plans. and larger than expected declines at its fios tv decision thank tuesday cord cutting stressing that verizon duds not want to make similar media acquisitions saying they're not going to own content but rather they want to be the best distributor to partner with content providers. >> let's turn now to bob pisani.

>> the important thing here it's trading up 3m, great old respectable company here just take a look at the business of 3m right now. they have a good predictable business across a very wide range of products. industrials are 30% of their revenues they make tapes and adhesives and health care and medical and surgical products. and remember those famous post-it notes, they're the guys who make that. let me tell you the bad news about the company. this isn't the tech company. so their organic growth guidance day 3 a to 4%. let me show you the charts for the year this thing was a monster going into the start of the year

unfortunately the expect asians for wall street for growth were way too high the stock hit a high in january when the stock market hit a new high, and then they give guidance and lowered the guidance and the stock essentially has been straight down since then. this is great performer overall, great company but the street wants growth and it's hard for 3m to deliver the kind of growth that the momentum guys and the growth people want to deliver right now. that's the story but it's a perfectly respectable company with a lot of great businesses >> let's bring in meg tirell now. >> the cancer drug seeing shares up almost 5% there the indianapolis based maker said it also plans to pursue an offering for its health business and allow lily to focus on its human pharmaceuticals business

it made up 13% of the business last year. that stock has almost tripled since it began trading separately from phizer five years ago. lily also said it doesn't plan to raise drug prices for the rest of the year >> meg, thanks very much for that meantime eric has the latest on lockheed earnings. >> strong earnings earlier today easily beating estimates the earning $4.05 beating the $3.92 estimates. revenue beating $12.7 billion estimates. the company also raising guidance for full year on sales, earnings and free cash flow. the stock opened up almost 3% until settling up almost 0.5%. defense spending is going up

the stock though only up about 10% in the past month. down 11% just in the last three months something to watch >> called trump stock. let's turn to the big tech mover of the day and that would be josh lipton in san francisco >> sara, alphabet shrugging off those regulatory concerns off those stronger than expected results. net revenue surge 25%. accelerated for four quarters in a row, it was the highest since 2014 he liked what he saw with google properties revenues specifically because he said that really showed out on firing all sellenders and capx nearly doubled to $5.5 billion as the company looks to support its cloud

services i'm here at the google cloud conference in san francisco. her company actually has the most advanced cloud out there given the big investments the company's making, she says, in ai and security. guys, back to you. >> josh lipton, thank you. and thanks to all of our reporters for keeping us up to speed on the big earnings movers after the bell we'll get results from at&t and texas instruments. joining our closing bell exchange to talk about how earnings are effecting this market, steve grasso, rick santelli always is with us steve, i guess we should start with the nasdaq turn around and now lower on the day why? >> so i do think you're going to have these ebb and flow reactions in the marketplace when you take out these historic highs and then you want to pull back a little, build a foundation what's really interesting is when you look at these

technology names look at after netflix reported, you start to see the divergence between a google and netflix facebook is up, amazon is up amazon can walk that tightrope, it could be a value dare i say stock because it can turn the spigots whenever it wants. if you look at google or facebook as opposed to a crm, a netflix, a workday, the group is diverging. value versus growth that bob was talking about before, the market is hungry from growth so they're looking at technology names and not trading them as a block as they used to they're separating out those really growthy torque names versus the quote-unquote value name like a google hey, i sat on this desk and said something weird was going on on this desk at $199, and i said

you know what, when you can't bet against jeff bazos -- >> well, it's certainly not a value stock yet. >> i'm not saying it's a value stock. i'm saying it's up because the shorts are afraid to bet against it >> rick, talk to us about the two. year action we saw today a bit of flattening of the yield curve and rise in the short end. not fully upsetting we saw yesterday. >> no, as a matter of fact, the bulk of the steepening is still intact but you are correct. as a matter of fact we're hovering right between 263 and 264 right now on a two-year note it's the only maturity on the curve that was unchanged 30-year bonds are actually down,

two tens are down. many thought that maybe president trump's comments last week, we know that they definitely helped push the dollar index off of some lofty levels, that maybe his comments regarding the fed is why the curve changed. but it really doesn't hold water. the short end really hasn't stop presidential comments regarding the fed and low interests rates that continue to climb every session or so as a basis point or three quarters basis point back to 2008 but the long end for the most part are still holding the bulk of the gains as well obviously we're not in the 280s anymore, but we have retreated a bit. some big data points coming up specifically friday and a look at our first quarter gdp and banks are really juicing the long end it's not that we're not moving higher

the fact we're holding those gains after we kind of jumped the broom on a 22 session range is still very significant. >> michael, i wanted to bring up chine uh- china in this discussion chinese stocks jumping on word the government there is going to really turn on the spigots, infusing a record amount of liquidity into the system. they're in fiscal and monetary expansion mode and you're seeing materials in the u.s. out performing is that a play you want to be in, china easing in order to defend against a trade war. >> it's very hard to predict china on a day to day or short-term basis what they're going to do. and it's so politically impacted and given all the trade discussions and disagreements it adds even more uncertainty there's no question in the long-term that is growth economy. it's one of the best growth economies in the world and so news like today would obviously drive some of those names. i think it has

and i would say as a long-term investor, you you want to be in some of those names long-term because i think the long-term story is one of growth in that region to be patient you can play that successfully but i wouldn't do it based on short-term news like what happened overnight >> steve, overall you actually think it's time to a bit cautious on markets. as much as 5% in. >> i would say 4% is probably warranted. if you look at the pull backs we've seen, the draw downs we've seen back since the february low, a more normal gage it look at from april on we've had the run ups, couple of percentage points, the pull backs. what's important is the durations we've seen from the bottoms to those new york tops that we've seen since april have been about 12 to 15 days we're already extended about 18 days so i know this is huge level on their charts, but we are due for a pull back.

that brings us back to, you know, maybe a 4% pull back that gets you down to the hundred day moving average so i think that's warranted. >> thank you all very much up next on "the closing bell," rising rates, a strong dollar and tariff fears. could that be setting up a perfect storm for the markets? >> very dramatic >> very dramatic it's actually a bit scary. a panel of experts will tell us how much of a risk these factors could pose to your money and speaking of tariffs president trump tweeting out this morning, quote, tariffs are the greatest but is that really the case? we're going to take a look back at some previous tariff policies and see how they panned out. and you can reach out to the ndow on twitter, facebook or se us an e-mail. "the closing bell" back after a quick break. need a change of scenery?

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uncertainty with tariffs and global trade actions has led to an increase in cost particular citing steel of course where president trump did impose tariffs as well. down 14% >> speaking of an impact from tariffs american farmers have been one of the most visible casualties so far. but the trump administration is now readying a plan to free up billions of dollars in emergency aid. >> the u.s. department of agriculture today rolled out a $12 billion support program to address what it called immediate financial stress from retaliation. the assistance will be delivered to farmers in two ways number one, direct payments to farmers. the second will be directed buying of excess surplus nat market of things like nuts,

legumes, beef, pork and milk a third part of the program will try to find now exports for those that have dried up or gotten too costly. officials say details are still being worked out about who qualifies and how long the program will last. they called it a short time bridge to buy the president more time for trade negotiations. speaking from missouri today the president asked for patience >> making tremendous progress. they're all coming they don't want to have those tariffs put on them. they're all coming to see us, and the farmers will be the biggest beneficiary. watch. we're opening up markets you watch what's going to happen just be a little patient >> farmers have begun responding to the announcement, the american soybean association says the announced plan provides only short-term assistance asa continues to call for a longer term strategy to

alleviate mounting soybean surpluses and mounting prices including a plan to remove the harmful tariffs. as one farmer i spoke to this afternoon said the devil will be in the details and that's what the usda is going to focus on for the next few weeks >> republicans, where they getting onboard, hand outs, bail outs, that's not typically a policy we see from republicans >> no, and certainly the policy certainly seemed to land with a thud on capitol hill some republicans are calling it a bail out republican ben sass of nebraska called it golden crutches for farmers who have head their legs kicked out from under them by the administration's trade policy so certainly lawmakers are not mincing words about their feelings about this program. but that being said, $12 billion while it is not inconsequential for some of these farmers compared to other government programs it is not something

that will necessarily break the bank, but ideologically it's something very hard for republicans to wrap their minds around >> kayla, thank you very much for that meantime president trump touting his trade plan on twitter this morning. writing, quote, tariffs are the greatest either it a country treats us fairly on negotiating deals or gets hit with tariffs. it's as simple as that >> what did you find >> some disagreement with the president on that statement. in fact talking to economists they say tariffs are the greatest at one, losing jobs in the unprotected industry, two, raising prices on the goods affected by those tariffs and three distorting economic decisions by businesses. the steel and aluminum tariff, which you can see all those companies around it have said they're going to add jobs.

the ones listed there said about 2,700 jobs and the trade partnership world side said about 26,000 jobs. those 26,000 jobs are added and another 5,000 jobs or so are expected to be lost because it raises consumer prices and otherwise reduces growth because of the higher prices let's go back in history and take a look at some sort of forgotten one. the flat tire tariffs. 1,200 jobs were saved, 2,500 jobs were lost the cust a to the u.s. economy were 1.1 billion and cost about $1 million per job saved sara, when i talked to economists they say the greatest was mohamed ali, not tariffs >> well, steve, just on a flip

side, though, to that one area you could say tariffs have worked this may not be applicable to the united states, but it has been used and to positive effect for emerging markets and you have to say china over the last two or three decades is an example of that. >> so when you have a developing country and one trying to establish industries it can work for a while. you know, wilf, i had the pleasure and sometimes displeasure of living in the former soviet union for six years. from 1992 to 1998. and i saw the results of protected industries their slclerotic, fat, anemic. i'm running outof words here but when you protect those industries they become unco uncompetitive, and that's one of the big dangers here in the united states when it comes to the auto industry as well. >> looking at the markets it seems there may be a storm brewing. rising rates, a strengthening

dollar and all of those tariff fears happening at all once. what does it mean for investors? >> joining us now to discuss a very good afternoon to you both if you start with you, do you think this is fair fear to have at the moment, that we could genuinely have a perfect storm for a pull back of equity markets or is it something not really on the agenda for 2018 when we're talking about 14% gdp growth on friday >> let's start with each of the things you mentioned on interest rates our view is the ten-year rates hit about 5%, and until that point equity markets are likely to be positively correlated to interest rates, so that is good. even if you take a conservative view our opinion is that it's the potential is 3.7%. ten years right now are 3% and under, i think we're in a good

spot from an equity market perspective. moving onto the dollar and what we find is the dollar impacts the bottom line and top line of companies. what we found is in equity markets the investors seem to overlook the hit on earnings from the dollar and are willing to pay a higher multiple in other words, the impact on returns is a lot less than the impact the dollar has on earnings the last point on trade situations, clearly our view is that that it is a broad negative, especially for smaller cap companies in america and this is contrary to the popular belief that these companies are better protected because of their domestic orientation. the problem is these companies in fact have a higher export and import exposure. their margins are significantly weaker and hence they cannot absorb costs, and lastly they don't have the pricing power when you put all that together

the impact of earnings especially for smaller companies in the u.s. can be quite substantial. >> diane, from an economics perspective, triple threat of rising interest rates, stronger dollar and tariffs, what does it mean as we are about to get on friday what is expected to be a blow out gdp report in terms of its impact on slowing that down. >> well, what we're going to see is the u.s. economy has a bit of a cushion and we can weather the storm for a bit, but the storm is still brewing and the undercurrents are clearly forming. i think that's the way to the think of it. brexit is a cautionary tale, where the threats of tariffs, the threats of pulling out of the eu alone over the course of two years is now beginning to show in higher inflations, lower growth and reduced investment confidence and actually people moving off to the continent from u.k. >> diane, if the full effects of the president's trade war if it

was implemented that's only as bad as what happened in brexit, you'd have to say the tactics are worthwhile the u.k. is still growing. >> it's not an action yet. it is because it's showing the effects of uncertainty in policy, and that's what we have right now. we don't have a lot of tariffs we have things like a strong dollar, which should be decelerating inflation but undermining competitiveness for manufacturers at the same time tariffs are pushing prices up and undermining competitors for anyone who uses steel. the number of steel users far outnumbers the number of steel producers, so it hurts more people than it helps you add what should be slowing down rate hikes, a stronger dollar no longer can do that because you're adding tariffs. the uncertainty factor is that it undermines investment in

2019 if you were to have a full out trade war tomorrow, which i don't think you're going to have, then you could see a recession in early 2019, and that would be fairly substantial. if we're going to continue to have this uncertainty, then you have overtime a corrosive effect that builds up with less investment >> thank you very much, guys it's an example of what could happen on one hand but also -- >> but you do have the uncertainty factor there for british and american business. >> but you can't say it's what could happen on one side but also it hasn't happened yet, that's why it's not worse. that's literally flipping the answer >> don't insult the u.k. on this show >> you're welcome to but i felt that was slight double standards. we should share that promo again because we'll get the real experts's opinion on all of this still to come here on

"closing bell," harley davidson stock is in the fast lane today. we'll dive into the numbers and its new warning about the cost of tariffs we're up 160 points on the dow back in a couple of minutes. you always pay your insurance on time. tap one little bumper and up go your rates. what good is your insurance if you get punished for using it? news flash: nobody's perfect. for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. switch and you could save $782 on home and auto insurance. call for a free quote today.

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we've got a news flash here on osdental petroleum. >> reuters is reporting the company is exploring the sale of its pipeline assets and looking

to get about $5 pillion for these assets which it could then use to put into oil exploration and production selling some of their pipeline assets to then invest in oil production this of course as the price of oil rebounds in 2018 we're looking at shares up about 1.3% for occidental petroleum. >> harly did say tariffs would cost the company between $45 and $55 million. the stock up 3%, so a decent jump, but you'd say a jump from expectations operating margin for the second quarter they're expecting to be around 9% for the year end

so a significant margin impact coming through, but the shares up relative to expectations. >> i think delirly clearly harl tariff problem, but you saw a problem before that. they've got to invest. shares of campbells soup today moving a bit higher -- they're lower now. the pepperidge farm unit had to announce recalls for certain types of goldfish, the crackers, after a possible risk of salmonella after we got a recall of ritz crackers having to be rrl r recalled because of that whey powder here's my best scientific explanation. whey is a by-product of dairy

processing they use if in yogurt and cheese as with all animal products it can be contaminated with salmonella probably not frequent, but i guess the whey powder is used in the coating of the crackers. >> i think our viewers now can see how good both of us are as cooks from this conversation >> at last week's delivering alpha conference jp morgan callahan urged investors to be mindful of the risks >> one of the things on our minds are these currency moves and becoming more pronounced and violent and again they could have second and -- even our own u.s. dollar is something people should keep a very keen eye on >> i told you people should keep

a keen eye on it >> you can watch the full panel at delivering alpha.com. well worth checking that out time now for a cnbc news update. hello wilf, hi sara. here's what's happening at this hour, everyone the death toll from the greek wildfire is rising it's now at 74 26 of the dead were groups of trapped families or friends found huddled together 164 adults and 23 children are still being treated in hospitals. prime minister alexa cypress declaring three days of national mourning for those victims congress reacting to president trump's idea of pulling security clearances for former intelligence officials. calling it retribution out of banana republic. >> when you're going to start taking retribution against people who are your political enemies in this manner, that's the kind of thing that happens

in venezuela where i was just recently so you just don't do that, and i can't believe they even allowed it to be aired just to be honest i mean it's a banana republic kind of thing. hamilton may be coming to movie theaters hollywood studios are currently bidding to the screen rights but the movie won't be a film adaptation instead it'll be a recording of the show with its original cast. back downtown to you >> i kind of miss the original cast >> that's why the film will be good for you >> yeah, you'll be able to see the film tyler matheson said it was the best thing he had ever seen on broadway >> i know. he picked it for his check please again as well so we know he loves it, but i want to see the original first >> you should have been more on

top of it then >> i should have been, but it was kind of expensive. >> you had to just really wait we got our tickets and then waited about a year. it was really good >> phantom of the opera, it's the best we've gobbet 25 minutes left to the close. the dow is off the highs but still up 0.23% and getting a lot of coverage today, of course she's thought to be a front-runner for the democratic nomination in 20/20 plus madison square gardens switching from coke to pepsi and brittany spears is certainly excited about the news but how does wall street feel about the news

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welcome back to "the closing bell." madison square garden announcing today that things no longer go

better with coke at the world's most famous arena. pepsico will replace the garden as the exclusive garden and snack partner. the food and bev rs will be featured at all venues and the company will also become an official sponsor for the gardens sports franchises. >> the knicks and the rangers in case you didn't know hoping the new partnership helps the team's performance what does the partnership mean for pepsi and the future of coke we're going to talk about the investor angle scott, we know you're a pepsi shareholder, so you're probably biased in this but for me as someone who covers the stocks it appears the value here isn't necessarily the sales pepsi gets, the marketing opportunity they get the exposure to a younger audience and of course the bragging rights for taking over a partnership with coke that was in place for more than 100

years. what do you think as an investor in this? >> as an investor we've owned pepsi for a while for a variety of reasons one reason is the whole frito lay brand is something we think is important and something coke does not have. in terms of this new deal with madison square garden, yes, you're correct that now pepsi will be able to display its images inside and outside madison square garden just like they have at met life stadium where the jets and giants play i think to that extent it's very important. but i think it's more symbolic than necessarily an economic plus for pepsi i don't think that's really going to move the needle in terms of pepsi's earnings or sales. really the important thing pepsi

needs to do is capture more of the quick service and restaurant industry and that's going to be a tough nut for them to crack. >> could a high profile symbolic switch as you frame it like msg help them crack that nut as it were >> no, i really don't think it will it may head very modularly to their sales, but if they can get to mcdonald, which is going to be very hard because coca-cola has had a 55-year agreement or relationship with mcdonald's, i just don't see it happening. so i think what pepsi needs to do is continue to push out in terms of the small restaurants, try and get some of the other quick service brands they were able to turn buffalo wild wings a few years ago so maybe go after the fringer,

smaller restaurants. they do have young brands, which are certainly -- >> appear tuesday be part of the company. >> correct and i don't think that relationship is going away anytime soon >> coke has mcdonald's, burger king, wendies, soys, some of th others why do you think coke has underperformed so far last year and so far this year >> i look at the longer-term perspective. i show a five-year chart to my students and if you look pepsi has far outperformed coke over that period of time. and i think that pepsi will continue to outperform coke for the reason i stated earlier. it's frito lay, so we avoid coca-cola and hold pepsi in our dividend portfolios.

but frankly, i think there are other opportunities in the beverage industry. one that we own is national beverage, the non-cola type of drinks and it was the biggest growing part of the market, which is the flavored selza beverages, and that's where we're reporting both of our growth earnings these days >> and coca-cola is going to be reporting earns before the bell tomorrow we've got an exclusive interview with the ceo, james quincy 10:00 a.m. eastern, squawk on the street when we come back here on "the closing bell" massachusetts senator warren speaking out. her interesting comments on

capitalism. and tomorrow don't miss our exclusive interview with tony blare. also mr. yunger is meeting mr. trump. [music playing] (vo) progress is in the pursuit. audi will cover your first month's lease payment on select models during summer of audi sales event.

as part of his speakeasy series cnbc's john harwood sat down with massachusetts senator elizabeth warren >> there are a lot of folks who like having the power and the riches they have they like being able to tweak their little pinkie and the united states government does just what they want. they like being able to get regulations rolled back or not enforced i totally get that, and i get that i push hard against that, that i may be a threat to them on that. but my view on that is don't call me the polarizing figure. they're the ones who want to take advantage of this country they're the ones who want to cheat. they're the ones who want to say that they're personal wealth, their power is more important than buildingan america that

works for everyone >> you don't think capitalists are bad people >> i am an capitalist, come on i believe in markets what i don't believe in is theft. what i don't believe in is cheating >> we talked about this particularly with john in squawk box this morning an interesting dichotomy there because bernie sanders which he campaigned people outright said he's a socialist but she's saying she's a capitalist >> i wonder. i mean, and john harwood told us earlier she's a strong contender. i know it's super early for 2020 but whether we're going to have an election and debate capitalism and socialism i'm sure she would pitch herself with stricter rules. >> she also came out and said i support what the eu is doing with google and saying they have

too much power on that so it wasn't just a debate about tax rates. some specific examples >> really an anti-trump call on deregulation, corporate tax cuts, that sort of thing >> right now cnbc.com. we've got 11 minutes, ten minutes left until the close we've had a dissent session for the most part. the nasdaq now dow the dow and s&p still nicely higher when we come back we're e q.g to take you to the nasda thtech stocks hitting new high are you taking the tissue test? yep, and my teeth are yellow. time for whitestrips. crest glamorous white whitestrips are the only ada-accepted whitening strips proven to be safe and effective. and they whiten 25x better than a leading whitening toothpaste.

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provides the most wifi coverage for your home, and lets you control your network with the xfi app. it's the ultimate wifi experience. xfinity xfi, simple, easy, awesome. welcome back to "the closing bell." let's send it up to bertha at the nasdaq >> not just tech stocks today, sara the nasdaq 100, of course the tech sector but also large cap bio tech today, which has really been catching up as far as being an influence and fuel for the nasdaq of course alphabet today the outperformer ironically it's really bing the laggard among the faang stocks

that compares to netflix being up about 85%, and amazon being up more than 50% some other highs today biogen on strong earnings. cadence also hitting an all-time high today after reporting better than expected earnings. and facebook on deck to report this week also among the faang names. it's been a bit of a laggard coming back here chips now are not outperforming and leading this tech sort of rally that we've been seeing texas instruments of course having preannounced its results a week ago after its ceo resigned due to conduct issues we're looking for some guidance there from the chairman and now ceo again reck templeten we'll be hearing from intel later this week, but the chips are among the laggards here, and we expect to here from a lot of

them this week back to you. >> bertha, thank you very much for that up next we'll be back here with the closing count down. we've got 5 1/2 minutes of the trade. >> the stock went up today, and whether bit coin furutes are actually bringing in young investors. coming up later on "the closing bell." it's not about quantity. it's about quality. no trendy stuff. i want etfs backed by research. is it built for the long-term? my reputation depends on it. flexshares etfs are designed and managed around investor objectives. so you can advise with confidence. before investing, consider the fund's investment objectives, risks, charges and expenses. go to flexshares.com for a prospectus containing this information. read it carefully. with a $500,000 life insurance policy. how much do you think it cost him? $100 a month? $75?

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welcome back to "the closing bell." we've got a market flash >> shares of the medical device maker plunging bloomberg reporting a judge has ruled in favor of the boston scientific and the stock is down 30%. cnbc has reached out to nevro. we'll share what we learn. >> thank you for that. more on that coming up in the next hour. but let's get back to the close. kudos to jim kramer. the nasdaq is the one that traded off the most and ending the day slightly higher. the big cap indices a slightly better picture the russell down a full percent. if you look at the sector performance you'll see you tilts at the bottom. the positive stocks most notably

or commodity related materials and energy is higher teleco is also high at the moment looking at the two year over a decade because we did see yields hit a ten year high from the two years. and that yield move. >> sekt conductors as bertha noticed notably weaker we had a slightly elevated tone in the earnings conversation about the commodity costs, the stronger dollar, overall higher costs. we heard that from whirlpool, from kimberley clark anything that has paper and input costs and commodities a little bit more of a concern but overall pretty good on the earnings exxon and chevron were a big help in the dow jones industrial

today. earnings will continue tomorrow we'll be getting boeing, these two numbers from lockheed and coke tomorrow, general motors and ups as well >> we'll continue most notably with at&t, which is higher verizon had strong numbers and we're up 190 points on the dow at the close ringing the bell is camden, and tv ameritrade at the nasdaq. sara, back to you. welcome to "the closing bell." i'm sara i.d.'seisen. will fr wilfred frost will be joining us in a moment. dow managing to gain 0.8%.

s&p 500 up 0.5%. nasdaq slipped it was up 1%, hit nug intraday record highs and russell down 1% for the small cap stocks two big names getting ready to report earnings after the bell we'll get results from at&t and texas instruments. and of course we'll bring you the numbers as soon as they are out. as far as today's market panel, we've got michael and sandy villeri. whirlpool was the biggest loser, which we will talk about i usually turn to mike santolli

now and ask what stood out to you. >> i think it's tremendous when you ask a president that talks about lower street rates, talks about how the stock market should be going up, throw some protection to the agricultural producers regarding what's happening with tariffs i think there's a lot of positive sentiment out there coming from the administration even willing to talk about the federal reserve. >> i got to cut you off because it's so interesting to hear all this because on cnbc ever since the president started criticizing the fed, talking about how he liked to see a weaker u.s. dollar, threatening more tariffs, oh, and working on a bail out for the farmers, there's been a ton of criticism around all of those policies you're saying it's actually constructive for the markets >> yeah, depends on what you're criticizing. if you're talking about what is okay for the market to let the market have some level of support i think those are all positive statements. whether or not, they're the right thing to say i'll let

people make that judgment. but in terms of being positive for the markets i think it's tremendously helpful >> do you agree? >> yeah, you look year tadate and it's been small caps probably up about twice the amount of the s&p 500. so i think it's an opportunity on this dip today when you saw the russell 2000 sell-off about 1% to kind of have your shopping list ready and buy big quality companies. there's a big divergence i'd buy these good quality companies and hold on and enjoy the tariff situation, the trade war going on right now >> sandy, early in the show we were talking about the perfect storm potentially forming for markets, going in a stronger dollar and higher yields as well when do you think those factors will be significant enough to weigh on equity markets?

is it not a 2018 issue for you >> yeah, look, i think we're going to get another 25 basis point hike this year, and probably, you know, there's a 60% chance we get another hike in december. but as long as rates are relatively low and you've got a very -- and things are going well, you know, just economically from a gdp standpoint i think it's a great time to get in the stock market, and i would stay long and specifically continue to play offense and buy these younger companies that are smaller in nature >> okay, we're going to hit pause on this discussion for the moment we've got earnings and they're on texas instruments >> hey, wilfred. shares of texas instruments moving higher on what was a strong beat versus the analyst estimate of $1.32. analyst were looking for $3.79 billion. guidance looks good and stock looks good in after hours trade.

>> what sort of signals are you getting from these results another one better than expected which seems to be the overall trend. >> i think it's obviously bullish for the tech companies it's interesting just the whole chips phase is really going to be under pressure going forward. i was just in china a few weeks ago. all they're talking about is trying to compete directly with companies like texas instruments. i think this is good number right now, but i think one has to be fairly cautious. >> were you concerned about the way we've seen some of the gains from some of the premarket moves eroded today clearly the nasdaq opened strong, traded lower google did hold onto its gains from last night, but other certain companies like 3m did -- was that a worry for you that we didn't hold onto what was otherwise a bullish market tone today? >> i don't think so. i think there's a larger profit taking

the market has been on a good run here as of late, so i don't think it's tremendously concerning if we see that pattern play out over the next four or five days maybe the market is telling us something. >> we've got some breaking news on lululemon finally announcing a new ceo. >> we do have a new ceo for lululemon. he's beent in that position for five years since 2013. before that he was actually the ceo of sears canada and is in fact canadian. he went to school there and born there. glen murphy who was the former gap ceo will return to be the nonexecutive chairman of it board. he was filling in for someone on an interim basis while they were doing this search. america is joining lululemon as its new ceo effective august 20, 2018 >> looks like he oversaw $15

billion in revenue, double digit growth, all points lululemon has tried to emphasize, courtney lululemon has been actually a strong bright spot in the retail market, even in the athleisure category they've managed to on the perform. >> we know so many entrants. look at chloe kardashian is trying to expand her brand into the ash leisure segment. they have a very loyal following, that's for sure we know the men's division of course is really growing and that's a strategy that's going to continue going forward. i know a lot of the men i speak to at first are skeptical and then they can't turn back. >> also, you know, $100 sounds like a lot from a bra, but wait until you try it courtney, thank you. a ceo also competes in

triathlons >> we looked at under armor and i think the more niche you are, i was walking yesterday with my wife and had my lululemon gear on, so they do a great job in mens i think that's been a big growth driver for them. the more niche they are, the more these retailers can live to compete against the amazons of the world. >> by the way, under armor out with results on thursday >> i think it's a good hire for them i think it's a good fit. it's not a huge leap in terms of the products they're selling let's talk now about alphabet after hitting an all-time high today. the company reporting a strong earnings beat last night after the close. other stocks including microsoft, facebook, paypal, salesforce, and adobe.

paypal up 2.4% on the close. mike, facebook up 2%, clearly hasn't reported yet, does report tomorrow is it getting ahead of itself before those numbers or did google paint a picture for the rest of its competitors? >> i think google is setting the trend here if you just look at the number of people facebook is hiring and the infrastructure they're doing around the globe, it's just incredible what's happening with this company so they were able to navigate that privacy disaster a comf months ago, three months ago and i think they're back on target so i don't think what you see in google is necessarily going to be just a google story >> the counter argument is you're talking about all this investment they have to do, which we've seen investors not approve of their spending. a buying opportunity every

time -- >> they have massive spending on infrastructure, but they have huge cash flow to support that >> but some people don't think that is over, especially heading into the mid-terms and especially as mark zuckerberg does these interviews where he sort of botches the way he talks about fake news and holocaust deniers. >> that wasn't a good moment here's the thing, i think privacy is going to be more restrictive on the entire social media companies. but the companies i think are going to be able to best navigate that disaster for their stock i think are going to be the big companies, and i think facebook is one of those companies. >> sandy, your view on google and on facebook. >> yeah, i think these companies are going to continue to put up good numbers you know, we did see a bit of a reversal in some of these names. so you could -- at what point are we at peak earnings and at what point is the market sort of discounting all the good news,

the corporate tax cuts, everything else going on i'm a believer that there's more good news to come and certain types of the market are still cheap. but i'm not finding a lot of value in some of the faang stock, that's for sure a little bit too pricey for me let's get more earnings now. this one on irobot >> and the stock is cleaning up nasely 37 cents on its bottom line. a strong beat really driven by growth international which both saw significant year over year growth of 51% and 31% respectively revenues at $236 million and the company says they sold out on prime day. guidance looks good and the stock is up 16%. sara >> that's a big move

seema mody thank you very much increasing trade tensions being felt by companies and all sorts like whirlpool which finished lower by 14% today after the company missed expectations this one was very weird because it was supposed to be helped by the appliance tariffs on its competition. >> but it was the steel impact, of course, they cited. sandy, overall what's your take on this? is this an example of a company that concerns you for the impact of tariffs or are you still pretty relaxed about it. >> well, you've got higher input cost, lower volumes. i think it was a tough quarter for those guys and tariffs not helping out at all i think that was a tough one, and i'd have a hard time buying that even on this dip. >> meantime hasbro finishing the day lower after saying it plans to move production from china in

order to avoid increasing trade tensions that down 4.5% and harley david finishing higher up nearly 8% out of the company estimates that steel and aluminum tariffs could cost it $45 to $55 million this year >> hopefully their brand will be able to overcome of the negative headlines. i do think that companies that have input costs like we saw with whirlpool and harley or going to be impacted that's when the input costs i think are really going to hurt >> are you optimistic what can happen tomorrow? >> am i optimistic, not particularly i don't really know what's going to happen. >> but it doesn't concern your market view either way

>> i don't think so. at this point i don't see anything that's obviously concerning >> sandy, when we're talking about the impact of trade on earnings, feels like it's happening in three different ways there's those higher input costs. rising steel costs, rising commodity costs. there's a direct hit to imports, and then there's a stronger dollar, which has gotten a lot stronger since the trade war began. how do you pin opponent in terms of stocks, sectors, this quarter and next >> what oo we do is focus on small cap doemestic companies ad that makes it easier for us because they're not really involved in the trade war issue. >> but they don't input costs as well and they have global supply chains they have to source parts. >> yeah, that could have a small

impact i think that's why small caps have done so much better than large year to date i think a lot of that is getting priced into small caps as well as interest rates going higher the dollar coming up a bit as well which is also more favorable to small caps versus the multinationals that have more expensive goods and services >> gents, we'll leave it there thank you very much for joining us still to come, at&t just reported its numbers, and we'll break down those results how you should be trading that stock this coming hour plus tv ameri trade beating wall street estimates. discussing the results in a first cnbc interview and we want to hear from you. get in tchou with you by twitter, e-mail or facebook.

at&t's numbers are out, and julia boorsstin has them for us. >> at&t beating estimates on earnings reported adjusted earnings of 91 cents per share

versus estimates of 81 cents per share. revenues coming in at $38.99 billion analysts had been expecting $39.39 billion the company did raise its guidance for 2018 for the full year raising the adjusted epa guidance to the high end $3.50 range and also ranging cash flow saying that capital investment of approximately $25 billion is now expected for 2018. they also say in the report here that time warner comes off an impressive second quarter. turner turned in a solid subscription of advertiser revenue growth and that conference call which randall stevenson is expected to speak starts in ten minutes. >> we'll certainly come back to

you with some highlights from that call. the share prices rose today alongside verizon's and eradicating more of that gain already. >> they missed a bit on the top line the concern on the top line is what's the cable cutting really going to do to them, and that's the whole point of the merger. they missed a little bit eps was okay it's really going to depend on what the guidance is going to look like. i suspect it'll be very optimistic, not shockingly that's really what it's going to be all about can they make this pivot where you can get the synergy? >> and how do you value the stock right now? could you have the visibility to do that? they've also acquired nexus? >> let me ask rhetorically this -- if you were to buy a stock that made nothing between now and the end of the year but

paid a 6% dividend, would you buy it it might be a name you want to take a look at i know this is really in a lot of ways an upside in terms of capital appreciation i don't think 6% is fog to live forev forever. i think it's going to be a 4% d dividend >> is there an execution risk? >> there's always an execution risk mergers don't work out very often. there's a reason time -- >> but you also have the doj appealing -- >> there's always risk, and you're also doing something here where you're trying to change the behavior of consumers into something they're going to be able to mimic in the future which is wireless energy, so we'll see how it goes. meantime shares of td

ameritrade finishing higher after reporting third quarter beat on both the top and bottom lines. nice to see you, tim >> thanks for having me. >> give us some colors behind those numbers, which looked pretty strong. >> they were strong. we were very pleased to announce what ended up being a 10 cent beat it was interesting i was hearing your last discussion about integrations and it could be a risk and ours certainly wasn't. it was our first full quarter of conversion in february that really dropped out performance to the bottom line >> what about the appetite for risk, the trading activity overall, some of the market conditions it was a quarter where we saw tariffs and threats of an increasing trade war really ratchet up >> yeah, that certainly seem tuesday be a topic though it isn't translating into a higher

volatility level this past quarter that actually abated a bit and now we're writing about a 12 or 13 fix even though every day their seems to be the announcement of a pepding trade war. we've been zg ourselves some time why is volatility so low given the size of these headlines? >> what's the answer to that is it complacency? >> i think it is we've got ten years of the bull, and generations of investors who haven't seen this rise up with risky headlines. >> what are you seeing in terms of bit coin activity, and do you see this as a way to bring in younger investors? >> that's certainly what we saw a couple of quarters ago just before christmas it was all anybody wanted to talk about we've seen crypto trading generally drop fairly

dramatically probably in keeping with cryptos themselves, but it definitely got a lot of interest from a brand new generation of investors. >> and tim, do you still cheer when the president tweets especially market moving commentary or industry specific commentary i know you said are that was good, but it seems to be having less of an impact. >> when the president danes happen that was clearly something we saw markets drive to a greater degree. it's as as much a catalyst as much as it was back during the election >> tim hockey, thanks for joining us still ahead on this show the energy sector leading the market higher today that's taking the toll on the transports plus the white house is offering $12 billion in aid to

farmers hurt by the retaliatory trade tariffs. ahead we'll head to soybean country to see if that money will be enough to offset what they're losing from the trade war.

welcome back we've got some news on charter communications julia's got that for us. hey, julia >> that's right. john malone is stepping down he's retiring from the charter board of directors

he will continue to serve as the company's director he's going to be replaced with the ceo of sirius km, jaymes meyer, liberty broadband and the other shareholders of charter have nominated james to replace malone on the board. it's notable this comes as recently as july 16th malone stepped down from the board of lionsgate, another company he has invested in. so two boards losing malone as director on them shares are pretty much flat. guys, back over to you >> julia, thank vaeery much we know you've got tacall to get onto, the at&t call. mr. malone saying he remains heavily invested energy rallying today while transports took a hit, finishing the day lower by 1.5%.

joining us now to discuss fast money traders. good to see both of cow. so, guy, energy versus transports you see that relationship continuing to go in opposite directions >> yeah, i guess it makes sense. it's going higher, transports are going lower. for me, though, transports might be about the airlines. the airlines can't get out of their own way. so they start rallying and it's hard to get onboard. if you like ups at 15 times forward upperings, they report tomorrow, and you look at federal express and say 11 1/2 times forward earnings it's dirt cheap. so if you're asking me for one play in the transports that still makes sense in this environment in my opinion it's federal express. >> but you like the airlines, is that right >> i believe in the airlines they've been cheap for a long time we started to see a little life in the airlines particularly with united airlines with their

earnings out last week costs are clearly there. we saw jet blue today. that was really not good their costs were much higher than people thought. when oil prices are up because the economy is doing well, that can be good for the airlines and maybe they can even pass along those costs. to me the fear here is more trade trade oriented if you're a trucker or railroad, you don't know what your costs are going to be and you don't know how much your activity is going to be. that's the part to me that's causing the downturn today >> all right, guys, good to check in with you both >> that's it running heavy? >> running high. you know how it works here >> understand. got to go, got to go >> and we look forward to a full hour with them coming up they also have wall street's biggest bull who says an

incredible buying opportunity is on the way and he'll tell us what he sees that's got him so excited. meantime let's take a look at how we finish up it day on wall street the dow higher by 2pen points or 0.8% but a nice little pop towards the close. nasdaq ending flat, the russell down a percent >> and checking on the names here moving after hours on earnings, at&t calls about it kick off shares down a little more than 0.5% bottom line beat and raising guidance texas instruments is higher after hours up almost 0.75%. let's get to other big stories today in our rapid recap. >> we are seeing a lot of the negative, none of the positive so if we do get some positive

news on the trade war i think it'll be good for markets. >> cord cutting set to jump more than 30% this year it excepts the number of u.s. adults who have canceled paid tv service to hit 33 million. i'm going to repeat that 33 million by year's end. >> the earnings because it was a much better number than the street had been anticipating, 20% above expectations what happened? what did you deliver that analysts didn't see coming >> all around a strong quarter for the company operationally. we're in a period now where we're growing based on the back of our newest pharmaceutical products nine products launched in the last three or four years and driving our growth >> pepsico announcing it's taking over the contracts at madison square garden. coca-cola has been the beverage company going all the way back to 1910. >> an aid package will be

unveiled later this afternoon. >> i would worry about overheating next year. >> msg switching from coke to pepsi. still no doubt will be the single most expensive place i've ever been to buy a drink i think a beer is like $12, $14. it's probably a good place to be if you're pepsi. >> and the snacks as well. although this is nonalcoholic you probably buy the -- >> also a bit of pepsi, maybe. >> the taylor swift concert was more of an aquafina concert tha beer >> the fact that nasdaq was up

and s&p was down we'll get those numbers. we have a cnbc news update now with sue herrera. here's what's happening at this hour, everyone. addressing the national convention of veterans of foreign wars president trump tempering his threatening rhetoric towards iran just two days after he sent an all caps tweet warning of future conflict >> i withdrew the united states from the horrible one-sided iran nuclear deal we're ready to make a real deal, not the deal that was done by the previous administration, which was a disaster the los angeles rams agreeing to a record contract extension with star player tod gurley with $45 million in guarantees that is the largest guarantee given to a running back. it also includes a $20 million

signing bonus. and speaking of bonuses the mega millions jackpot now stands at $512 million. strong sales pushing tonight's drawing higher than originally estimated. a quick dose of reality because unfortunately your chances of winning are about 302 million to 1. >> so you're saying i've got a chance >> yes, exactly, wilf, you do. buy a ticket >> what time is the draw >> there's plenty of time, and i'm sure you've got to go to one of those little hole in the wall places in downtown manhattan and by your ticket it's good luck, they say >> yeah, because there aren't a lot of gas stations in manhattan. >> if i win, you were the one who urged me to buy a ticket so you get a big cut. >> excellent >> we're splitting it three ways >> no.

>> at&t shares lower right now after missing wall street's revenue estimates, they're off about a percent right now. up next the numbers and how you should be trading this stock >> and tomorrow tony biroila jns us tomorrow 3:00 p.m. on "the closing bell." back here in a couple of minutes. greatness of an suv? is it to carry cargo... or to carry on a legacy? its show of strength... or its sign of intelligence? in crossing harsh terrain... or breaking new ground? this is the time to get an exceptional offer on the mercedes of your midsummer dreams at the mercedes-benz summer event, going on now. receive up to a $1,250 summer event bonus on select suvs. mercedes-benz. the best or nothing.

. at&t just out with earnings. it is declining a percent hereinafter hours. joining us with some reaction jonathan chaplain from new straight research and also craig mofitt how do the numbers look, jonathan >> numbers were slightly better than expected on some metrics, but you've got to understand that expectations were really low going in the business isn't doing great there's not one piece of this business that you could look at and say it's doing really well there's a slight improvement in

wireless in a very, very benign competitive environment. where sprint and t-mobile focused on other things right now trying to get things done. and that's the only piece of the business that showed any sign of groat and it barely grew >> can you find a more positive spin than that >> no, i can't here's the problem there's -- as jonathan said, there's no part of this business that's growing. and they don't get very high marks for transparency you really have to dig through these numbers pretty hard to try to figure out what's going on in the business but the organic growth rate of this business in the top line is negative 2.9%. for a business that has lever almost four times even when you count their leverage properly a

negative growth rate of 6% and missing evada consensus is a very frightening number. and time warner will help a little bit with the income statement if it hurts the balance sheet. but these numbers i think unfortunately are very weak. >> that does raise an interesting question, jonathan, how do you value this company now. how does some of the parts analysis change with time warner and nexus? >> it's very difficult we're giving those assets which were phenomenal assets up until a few weeks ago, we're giving them to a management team that doesn't really know anything about the business the whole distribution model is going through a shift. the monetization model for the business is going through a

shift. so it's what these assets are going to be worth in at&t management's hands remains to be seen look at the asset they just bought which is direct tv. they bought that at more than eight times even just a couple of years ago and it's probably worth four times today >> netflix on a phenomenal evaluation can hbo be given a better evaluation than you guys are suggesting >> well, it's hard to see why it would have a different evaluation it had inside at&t than it had as time warn it's an interesting philosophical challenge. if hbo suddenly became netflix, which is to say a very large pool of customers losing a lot of money, would it get anything like a netflix valuation inside of time warner or inside of at&t i strongly doubt it. i think you'd have to -- it

would stretch credibility to think you would have a netflix like multiple on revenues on a business like that >> you guys are super bearish for a company that just raised earnings and actually shared its core earnings. >> remember the reason they raised earnings in large part is they're now including the time warner entity. that's what i mean by the transparency is not very good. they don't give you a simple chart anywhere in their earnings that says here's what our growth rates actually are on an organic baes but organically this company is shrinking not growing. >> let's see what randall stevenson says on the call, guys thank you. soybean prices climbing after the trump administration announced an emergency bail out for farmers hurt by tariffs. whether this is enough to guarantee the win president trump promised to farmers, we will dive into the that question next and be sure to tune into

"closing bell" tomorrow. former treasury secretary jack w lloin us here at the new york stock e change. we're back in a couple of minutes.

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soybean contracts. joining us to discuss that and more is the north dakota trade office executive director. thank you so much for coming on. we don't know very much about this program, how exactly it's going to get doled out, but $12 billion, does that sound like enough to you when you look at some of the losses from the north dakota farmers >> thanks for having us. it's one where it's not a small amount but again the devil is going to be in the details there's a lot of people that have been hurt so that's a lot of money that's going to have to be shared. >> simon, do you feel the sentiment towards the president amongst people like yourself is changing tone, and what does this particular offer do to change that tone back the other way? >> well, you know, for us we're concerned about our farmers. you know, the farmers here in the state they spend a lot of time -- this looks like it's going to be great a year, so for us it's kind of frustrating there's a lot of this rhetoric being thrown around and a lot of these issues really truly

impacting the farm sites for us my role here representing the state on these issues is really to make sure we're moving things forward and trying to get through to the other side of it. and if it's making some action, that's powerful for us and powerful for our farmers >> talk a bit what your farmers are seeing in terms of losses. we mentioned soybeans. there are also pork producers out there and others how is this being spread, the pain >> it's a lot. from the soybean side we were with a farmer last week and he's talking a couple dollars a bushel, and he's growing 3,000 acres at 50 bushels an acre, you can do the math how much it's impacting his bottle line. we have dairy here in north dakota, peas and lentils that aren't truly impacted in china but impacted by other tariffs put on by other countries. this is for us probably at least

half a billion shock >> i think you said it's shaping up to be a great year. are the tariffs stopping that from happening already or are you fearful it could in the future >> the thing from the farmers side, they spend a lot of time and put a lot of risk and money into the fields. the crops here in north dakota are probably some of the best we've seen in decades just across the board for them this is year normally they bank and look forward to having a good year the tariffs have taken all that positive news for them and really made it a negative. our farmers, our producers, they don't want bail outs they don't want this help in short-term they want long-term stability. we understand these issues we have to address as a country to

protect everyone but, you know, there's a lot of pain that's going to be felt here. >> based on your people and your group donald trump won north dakota by 63% of the vote. do you expect any change and it to hurt the republicans in the mid-term elections >> well, a but at th end of the day it's really going to mean what happens in the pocketbooks and that's what people really say? are we in the right direction? is this helping us for me and for us it's going to be a long-term issue and short term we see there could be some challenges that way. >> we'll see how -- if there's relief on the way from the billion. simon wilson, appreciate the comments >> thanks for having me. >> fans of ivanka trump's clothing line should stock up while you can. we'll tell you why in today's takeaway next. this is no ordinary coffee. it's single-origin kenyan coffee from the nyeri highlands, 6,000 feet above sea level. but how do you really know that the beans journeyed

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court cutterses. the number of court cutters in the united states that are consumers who cancel traditional paid tv and don't resubscribe. that's a rise of 32.8% over last year it's according to the research firm e-marketer. >> it's a terrifying headline theme for the social media companies. i think the potential offset coming soon could be bundling of other sorts of apps and services at some point. at the moment it's very piecemeal. you still need to get the cable, obviously, the broadband and moving forward with the takeovers that we've seen maybe that will change. >> media, s&p, industry group

one of the hardest hit today. the ivanka trump fashion brand, the first daughter has grown frustrated by self-imposed restrictions on the company to avoid potential conflicts of interest while serving in the white house. the move comes after nordstrom and hudson bay ending sales of ivanka trump products over the past 18 months and it cited performances. >> if you're a retailer or brand, you have to think, uh-oh, president trump is ready to impose tariffs on apparel. a lot of apparel and footwear in this country is made in china. if he does go through with more tariffs on their imports, it will start to raise the prices obviously, that's not a reason why she canceled it and that's a conspiracy theory here, but that's one theory. the other is there were a lot of conflicts of interest, plus she got the seven trademarks in may. >> two years ago >> nordstrom, hudson bay both complained that it wasn't seeing such good performance. it surged around the election. it's a product company

we don't know. they pulled it trump tweeted, the whole thing. >> the number two car company said it would invest $2 billion through 2023 in the autonomous vehicle unit and it looks to save self-driving cars in the next two years >> 2023, and given the size of that market -- >> three years sounds luke a small amount of time to get them on the road? i'm not sure it's enough to get that, but we'll hear more from them and of course, they're reporting tomorrow fiat chrysler, it is after the bell and could be some other -- fiat would be very interesting and will be other meetings given with president trump and john paul junker, as well and more to affect the german auto company, but -- the u.s. industry has warned it would get hit, too >> we're glad that we'll have to cover the stories. up next here on "the closing

bell," we'll check on the g bi names on the earnings report that we've been discussing we'll have that in a couple of minutes. great question. see, for a full service brokerage like ours, that's tough to do. schwab does it. next question. do you offer a satisfaction guarantee? a what now? a satisfaction guarantee. like schwab does. man: (scoffing) what are you teaching these kids? ask your broker if they offer award-winning full service and low costs, backed by a satisfaction guarantee. if you don't like their answer, ask again at schwab. if you don't like their answer, when mit rocked our world.ailed we called usaa. and they greeted me as they always do. sergeant baker, how are you? they took care of everything a to z. having insurance is something everyone needs, but having usaa- now that's a privilege.

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making news after hours. at&t shares are lower after the telco giant missed wall street's revenue estimates. although it did raise full-year guidance on the surface it didn't look like the numbers were that bad, but of course, the stock had been up earlier in the day on the back of verizon's numbers overwhelming those. >> craig moffett is not a fan. >> texas instrument, the sales forecast and raising third-quarter outlook. it's up a little bit now after hours, but it has been volatile as we said after the close >> take a look at the move here, and i robot, shares soaring after strong earnings and guidance announcing its failed volume on amazon prime day doubled from last year, stocking up on those vacuum cleaners maybe. >> maybe >> i need to get one >> i've got a dyson. >> not a roomba. >> it's a british band. >> we just said we'll look ahead to another huge day of earnings and facebook is here early in the morning and i'll be covering

coca-cola on "squawk box," we've got an interview with ups' cfo on the earnings. >> and also, two big political interviews, tony blair and former treasury secretary jack lew, they'll be here tomorrow. >> nobody does earnings like cnbc. >> that does it for "closing bell". >> "fast money" starts now. >> "fast money kwot "starts right now live from the market overlooking new york city's times square i'm melissa lee. your traders are guy adami tonight on fast, do not -- do not adjust your tv sets. bitcoin is back above $8,000 and one steep hurdle the crippo currency needs to clear to keep the rally going, we'll tell you what that is. plus wall street's raging bull tony dwyer is here and he'd rather recite -- >> love that >> the best chance to buy could be just around the corner and he will explain, but first, we are in the middle of the busiest

week of earnings