conceiveally could have shot the lowest and take a look at the rallies still holding on as we enter the final hour of trade. technology is really underperforming the market thanks for watching power. >> "closing bell" starts right now. it is time for "the closing bell." i'm sara eisen in for kelly evans. big ral efor stocks today. we've got someone who says the bull market run is over. the first ever generic version of the epipen has just been approved by the fda we'll break down the moves ahead. i'm scott cohn in los angeles. amazon may be getting ready to finally reveal its second headquarters location.

joining us live to tell us why he thinks the city of angels is the perfect fit. wal-mart pouring the dow higher today, but the former u.s. ceo of wal-mart sees one potential issue. he's going to join us to explain. "closing bell" starts right now. not bad, andrew. welcome to "closing bell." welcome to andrew ross sorkin in for the andrew today first check out this market, dow surging today. having its best day since back in april, april 10th it's not just a story of the dow. we've got gain almost of a 1% for the s&p as well. >> it's a wal-mart story

you think it's china we're going to talk about china today. >> we saw the news higher when that news sort of came through last night and in the futures after hours. >> we will see in the meantime the s&p having its best days for june are going to be in today in today's rally. and joining us now peter, kumar, and mr. santelli i get to see you twice and this is good. a lot of things are going on here here's my question for you mr. bookvar, my questions is the markets up for the day and up big. is it going to hold on >> we'll have to see whether there's any talks between china and the u.s. obviously we're focused on turkey but i'm actually focused on italy.

italian yield bonds continue to go higher and as we get into september there's going toby a lot of chatter about the ecb cutting fed in half, ramping up qt and see how the economy deals with that, another fed rate hike and all that next. >> the question before we had about china, do you think this is actually real should the market be moving on this what's happening here? >> i think there's going to be some cosmetic deal done before the mid-term election. i say cosmetic because i don't think there will be very substantial. the chinese will buy more liquefied gas, more soybeans but the real crux of the problem in worry about intellectual property and technology, i think that's going to be way down the line before agreements are done there. >> what do you think about the impact of just a word the chinese are going to come here with some delegation and talk to treasury officials a, is that the reason why we're

seeing the dow soar more than 400 points, and what does that tell you of how it's been priced in with the trade war in china >> of the first question of the economic team coming over to the united states to talk, it has happened before. the chief coordinator, negotiator for president xi jinping had been here in the past it looks as if in may we did have an agreement to tone down the trade tensions but president trump quickly retowed and we went back to square one. i don't see a way we're going to quickly revolve these issues i think may they want to have some symbolic victory ahead of november from president trump's new point, but i don't see this getting resolved at all, sara. that's the first part. and in terms of what is happening on the chinese side, despite what larry kudlow said in terms of the meeting with the president earlier today, the

chinese economy is not crashing. the electricity consumption is still growing, and my meetings recent lay in beijing and shanghai suggest that the economy is still in fairly good heth they're not going to buckle down and give in to u.s. dmtds. >> last time i saw you -- now your glass half full on china. but last time i saw you i think you were not glass half full but half empty on the u.s. what do you make of that today >> i'm not saying the glass is half empty on the united states at all i'm not talking about the recession, i'm not talking about the crash. and including of the time we met last, i'm saying that the bond market is giving you an indication that the bond yields are still coming down. the strength between the two to ten-year treasury has reached a low point not seen since july of

2007 those are issues which send significant warning signals, but that glass is also still half full regarding what is happening on the wal-mart side, yes, retail sales have been strong the impact of tax cuts are still going into july. but the real issue is, andrew, whether it gets persistent into the second half of the year into 2019 which i seriously doubt go back to 2006 and 2007 the equity market was booming into the first half of 2008 when the recession -- the recession had begun in 2007. the bond market, the strength went negative in november of 2006 indicating that the recession was beginning a year later. the bond market is a better predictor than what the retail sales have been or what has happened with equities >> no question that's why there's so much focus on that flattening yield curve rick, what's your level of

enthusiasm in celebration of this market, up 400 points and yet still a flattening yield curve? >> you know, i think i disagree with pretty much everything sri just said. they can have any yield curve they want, let's be frank here and as far as china our pitcher is half empty or half full in the u.s., i'd say half full. i think their shot glass is half empty in china li listen, their economy has had problems long before i think this president isn't going to play political games in front of the mid-terms as a matter of fact, he might use what's going in negotiations to further his cause and the chinese should take notice of that because if he holds tight after the mid-terms, he's going to be less willing to budge under what

he perceives as unfair trade issues in china. the market is going to blink think about it, it's because there's a tail wind if it gets resolved but our stock market economy could more than survive if it doesn't. i don't think the same could be said about china >> rick santelli, thank you. good to get your take on this market as well we've got to drill down today on that retail sector, wal-mart, jc penny moving in opposite directions >> a strong consumer is a big boost to retailers, right? but it's not the only factor needed for a good quart. look at these two. you have to have the right merchandise and strategy as well wal-mart beat earnings and also raised its guidance for all three of those metrics for the full year. u.s. comps for wal-mart up 4.5%. that's the 16th straight quarterly gains for that metric,

also the best results in more than a decade. grocery still a big driver, and grocery represents more than half of sales, about 55% traffic in store was up again for the 15th quarter in a role, but of course ecommerce sales is a big focus and those grew 40 per in the u.s. that's a big gain but to be fair only the fourlargest growth in e quarters on the media call the ceo said wal-mart does expect u.s. losses to be quote somewhat higher than last year. earlier wal-mart warned that could be the case. and you've got jc penny. a bigger than expected loss, lower sales, and shares as you can see down 25% and now has a market cap of

under $600 million the ceo les retail, no ceo right now since it had discounted more than expected due to some merchandise misses it's now changing the way it buys inventories to chase sales strength, trying to be more of one of those fashion retailers it's a very hard thing to do >> i got to see you twice again, too. >> that's right. >> i got to see you this morning when the news broke and analyzing all day. >> since you saw her last time jc penny's market cap has dropped to $570 million. brutal >> joining us now -- here's what i want to know, this is basically the thing i'm trying to figure out on wal-mart, which is the numbers were so good, i

think, except the question becomes weather -- whether you think that this is like a one quarter story or whether you think this is actually going to continue to play itself out. that is the issue we started talking about literally the second the numbers hit >> right i think they are certainly -- they have a strat edge in place. they're certainly following through with it. it's showing positive signs. they have a tail wind from the consumer confidence, obviously it's benefitting them. but there's a couple of things i think are really positive. one what they've done with grocery and driving foot fall into their stores with grocery and they're solving the delivery problem for the u.s. consumer, which is very important. and what they've done with ecommerce. boosting ecommerce, invested heavily. that's clearly going to cost them, which they've warned up. but i think the combination of things they've followed it through and have a good chance of continuing >> is this a customer story, a

retail story or a wal-mart story? >> i think they're positioned to probably be the multichannel player, at least advantaged in that sense >> you have a thought on that? that's a good question it has all sorts of implications for other retailers as well. >> yeah, it does that's a good question what you've seen i think over the last really three years now is a really consistent story wal-mart has told the story, they've executed the story and they've done a really good job people where really happy in bentonville today. wal-mart has worked hard and invested a lot of money in labor, store conditions and updating their fresh offering for grocery. and now with a tail wind in the economy you're seeing them pop from about a 2% same store sales to about 4.5% same store sales and i think that lasts as long as the economy lasts but underlying there's a really good solid foundation of 2%, which is really, really strong >> so there's a u.s. story here,

though, but there's also an international story. india is now one of their big bets those numbers have not flowed into this yet. when do those numbers flow in and what are they going to look like >> well, you know, an international story is not easy. i think it's different consumer, different consumer behavior. i think what they've done acquiring flip card is a smart move because they're getting local knowledge and they'll be able to leverage that to learn and improve their business >> is it a smart move, bill? i don't know if the market liked it, and it sort of reflects this overall fight with amazon that wal-mart's having, feels like the market goes boorgt on whether wal-mart can actually be a formidable competitor to amazon >> it's going to be a toughone they bought a business for a substantial sum that's losing a billion or billion and a half a

year on operating income they're getting out of asda, out of brazil. india is big, big bet for them that has to work >> we talk about amazon, for some reason that name has not come up today, oddly enough. >> because when the retailers do well you don't do amazon >> i want to understand, a, the lead amazon has over wal-mart and are they making any move there? and the second piece is where is amazon going to own the world internationally outside the u.s. relative to wal-mart, and where are they actually going to fight? >> i think the amazon story, obviously it's a strong story. what wal-mart has advantage of the moment is the combination of the sort of multichannel journey amazon is trying to create at the moment thinking internuncially amazon

isn't as strong internationally for the same reasons wal-mart probably isn't either. in every major market they have a major competitor from india to china, and so i think it's going to be challenge. >> bill, wal-mart is posting 40% economy growth at what point do they grow that business big enough to compete with amazon in this country? >> well, lead is relative, okay? wal-mart is still three or four times the sales and five to ten times the profit than amazon so it all depends on your perspective. let's start from there where amazon has an advantage is growth, and ecommerce growth i think that's helped define the set of expectations and wal-mart sort of follows along in that line 40% ecommerce growth is one of the reasons they're struggling because ecommerce is not as profitable as the brick and mortar business. and as they make that transition

they're going to show a bit of struggle the question for wal-mart is can they redefine their play into more of an omny channel play than amazon? because that's an advantage for them i think the push -- and i'm encouraged by the grocery results amazon was able to put up this quart. that's because they've done a lot of work in their fresh areas. and fresh is hard to compete with online. as amazon tries to make traction in the grocery piece in the u.s. they're going to have to struggle with that outside the u.s. i think it's wide open other than maybe china which might be a pretty well-done deal i think there's an opportunity for both of those guys to fight it out in markets outside of the u.s. >> well, the stock is up 10% bill, maybe you still have your stock options in wal-mart after stepping down -- >> you're not a wal-mart -- you're not invested? >> no, i'm invested.

i've got a really big house here in bentonville, that's a pretty big investment >> bill simon, thank you coming up on "the closing bell," there's a major shift going on in consumer spending. could be a bullish sign for restaurants but it's coming at the expense of another key sector we'll tell you that story when we come back plus we've got economic director larry kudlow standing up at today's meeting to applaud the president's policies >> the single biggest story this year is an economic boom that is durable and lasting and that most people thought was impossible, and they were wrong. and you were right, sir. >> up next we're going to tell you what kudlow said about the strong dollar during our interview this morning on squawk box. "closing bell" returns in a moment

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dow, wal-mart, boeing and cisco. boeing has adding 92 points, wal-mart adding 55 there are a lot of winners today. in fact the only losers are -- and jc penny >> national director larry kudlow was on "squawk box" this morning. here's what he had to say about the u.s. dollar. it is our quote of the day >> the strong dollar, it's a steady dollar. it's a sign of confidence, okay. there's a lot of unrest around the world. money is flowing into the usa. that's terrific. by the way, a strong dollar hold down commodity prices, gasoline prices are slipping, oil prices are slipping i just want it steady. i'm not here to pilot the dollar the treasury department is in charge of all currency movements. i'm just looking at it in macro

economic terms it's sending a global story of confidence in the usa. trillions of dollars are coming in here because we're in an economic boom that virtually nobody thought possible. >> miss currency gureuu, you're the person we turn to. >> he's right it's flowing into the dollar but your boss says the dollar is too strong and he doesn't like it. so there's a bit of a split. >> what's the better answer, though >> the better answer is we'd like to see a stronger dollar -- the strength of the dollar is now a problem for corporate america. you look at the exporters, you go to the conference calls more complaints about the dollar than about the trade war and the tariff impact. because that cuts directly into u.s. earnings. >> okay, by the way, we showed the clip before the commercial break. when larry stands with the president and says, look, the

economy is doing better than anyone imagined, is that scripted is that prearranged? how do you think that happens? >> larry is pretty off-the-cuff. i will say that whole boom thing, i mean he told you guys that exact language, right >> maybe he was just practicing. >> there might be some talking points larry kudlow also mentioning of course the progress with china on trade one of the news of the market rally after news of beijing planning to send a delegation here to washington kayla, maybe you can tell us how much of that is scripted >> i'll get to that, but we have been on the phones all day with sources about that china talks here's what we know. we know they're going to take place next wednesday and thursday, siting the 31st tariff deadlines put in place meeting with treasury under the

secretary david malpaz and others we know the talks came under the invitation of the united states. and in advance of those talks treasury is expected to make changes to its list of demands for china which didn't go over so well when the delegation wept to beijing in early may. today larry kudlow suggested that recent deterioration in the chinese economy could mean washington approaches these talks with the upper hand. >> business investment is collapsing in china, according to the numbers industrial production has fallen and now is plateauing at a low level. people are selling the currency. there may be some manipulation, but mostly i think investors are moving out of china because they don't like the economy and they're coming to the usa because they like our economy. i'm not a china expert, although i'm boning up as fast as i can i would say right now the

economy looks terrible >> because china is not a market economy, it could use opaque measures to outlast the u.s. in a trade war, that's all part of the white house strategy with allies like europe and mexico and japan, to try to have a yoonited front against china and really ramp up the pressure there. as for whether those comments are scripted we know larry kudlow, a colleague of ours. and if there's one thing we know he knows how to create a sound bite it is something that not only did he say that resonated with the president, the president watched it on tv, he liked it, and he asked larry to stand up and say it again >> i knew there was something going on behind the scenes peter bookvar has a view there's an element of politics in this in terms of the mid-term elections, the idea get some kind of deal with china.

maybe there's not even a real deal behind it, but get something that looks like a deal ahead of november. does that make sense to you? >> right, even if you don't get a deal, andrew, there is something to be said for maybe staving off some of the more painful parts of what this trade war could potentially bring to the u.s. or even to china for the time being i've heard executives openly wonder about what the president's strategy is going to be on trade going into the mid-terms because on one hand his base really likes the tariffs. his base likes him holding china to account, holding their feet to the fire, and a lot of theme believe the market is resilient enough to take that right now. on the other hand, you see a market move today, 300, 400 points on just the reports of progress a lot of people in the white house finds that intoxicating. the president likes to talk about wins, stock market gains does he choose that route going into mid-terms or does he double down on tariffs?

we'll see. >> kala, thank you still ahead on "the closing bell," if you've been thinking about buying a house, now may be the right time at least in some cities we'll tell you where the landscape is shifting from a sellers market to a buyers market and up next the cdc revealing what made all those people sick in chipotle last month. we'll going to break down what it means for the stock you always pay your insurance on time.

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welcome back to "the closing bell." the dow up about 434 points right about now. s&p 500 look up about 26 points. nasdaq up about 43 points. i want to take some quick check on some stocks to watch right now. i had lunch at this place just this week so i care about this chipotle falling today after ohio officials confirmed the outbreak, the foodburn illness may have been caused by leaving food out at unsafe temperatures. the food has not been identified as the source of illness, but additional testing on ongoing chipotle says it has zero-tolerance and they are committed, they say to ensure it does not happen again. the stock of course taking another hit. i can't figure out is this just bad luck, does this happen all the time everywhere i've got to stop worrying about it >> maybe it happens all the

time chipotle is volatile stock that has a high multiple. a little deja-vu with the food safety, but the market is not telling you it's anything prolonged like last time >> there's only one central question, are you -- >> i'm eating at chipotle. >> burrito or tacos? >> regular burrito, veggie burrito. what about you >> burrito and sometimes burrito salad. no tacos >> i've never done the tacos speaking of food kroger planning to expand to a driverless delivery van this fall that stock is up 1.6%. so i cover kroger, andrew, and they have figured sort of like amazon drip, drip, drip news on

digital efforts. and they've sort of nailed this because the stock goes up and it's like they've had 100 different announcements like this over the last two months showing they're working on automated warehouses and click and collect and driverless technology on delivery if they're going to compete now with amazon which they have to since they bought whole foods, they've got to make a clear they have a plan. i think they're making it very public what they're doing on these fronts i think there's a real sense of urgency and they're working on it >> it's now time for cnbc's news update here's what's happening at this hour, everybody fans paying tribute to aretha franklin bringing flowers, notes and of course a crown to the queen of soul star, the legendy singer died at her home in detroit this morning at the age of 76. indian authorities say the death toll in the flood ravaged

region has risen 256 people have now died due to rain, flooding and land slides in that area since may 29th. over 50 rescue teams have been deployed to find people stranded by the rising water. but india's meteorological society is forecasting heavyane will continue to saturday. the cdc is warning that a measles outbreak has now spread to 21 states in the district of columbia 170 people have now contracted the disease since the beginning of the year. and take a look at this, australian police, whoops, would like to speak to this man who attempted to charge a parker gate and obviously he lost they released that video on facebook in hopes of identifying the man where it quickly went viral. they hope to charge him with criminal damage. he must have been intoxicated. i don't know, why would you do that ever? that's the news update at this

hour sara, andrew, i'll send it back downtown to you. >> that's a weird one. sue, thank you >> you got it. shares of teva jumping on news the fda approved the first generic version of the epipen. >> it was a decision years in the making tava pharmaceuticals getting the first approval of the generic epipen pressure had you been mounting on the fda to approve competitors. first after the price of the epipen sparked outrage during the back to school season in 2017 and as recently as supply disruptions for the epipen this year has made it hard to come by it's eager to begin supplying the market no word on the precise timing of the launch, though, or the

expected price now in response to backlash in 2016 myelin introduced its own authorized generic version, and they're about $300 for a two pack there are other competitors on the market, but neither has the market share myelin does this could be the first product that could be ubsitutsubstitutea pharmacist and we'll have more on the current supply issues for the peppy pen and what parents are doing to prepare their kids to go back to school if they have allergies tomorrow >> i know they're not disclosing the price of the epipen, but there's been a huge debate over what that could be what do you think it's going to be >> the generic version from tava often when these things launch there's often like a 10%

discount, but also there's a generic version from myelin and the branded version from myelin. there's kind of a variability they can come in here. they have to compete with the generic price with myelin's drug but we'll see where that comes in because people care about this obviously still to come we have a lot more to talk about on this very big rally including why one market expert says the bull run isn't over yet we're going to be right back with that in just a moment ♪ it is such a good time to kiss ♪

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welcome back to "the closing bell." let's talk more about this big rally with our floor operations of ups 400 points higher. s&p not too far off from record highs. what do you attribute this melt up to? >> well, the deal that was thought to be revealing was china. there's concern with how far that was going to go there are further hints things are working out also with mexico we're moving a bit closer there. and qatar is going to give $50 billion to turkey.

so all of the three things everyone was worried about seemed to have abated here >> is this a macro story today >> i think it's primarily a macro story that got a boost with wal-mart that came in, the upgrade of boeing i think it would be up 200, 220 points >> can i throw in another piece, though, china -- if you believe larry kudlow, you made the comment and you can make it on tv yourself. >> i think my dear friend larry kudlow is off the mark because i think he's reading the chinese stock market as an indicator of the chinese economy. and the viewer should know that back in 2007, in october 2007

the shanghai index was above 7,000. it's now down to 2,700 the chinese economy has not collapsed in that manner over that period of time. so the two are disconnected. in the highly efficient full production places like the united states the stock market is usually reflected somewhat of what the economy is doing. but there's almost a total disconnect in china. >> the one day only, thank you it's a privilege, and i don'ttualdon't actually get to -- >> you don't get to see him. it's a bonus here. >> we should tell you next week our next guest says the gains are not over yet how much more does it have to run? >> andrew, i'll tell you i think for right now stocks are

probably pretty close to fair value or maybe even just a little bit ahead i think if i try to look out 12 months or something like that, i think it's reasonable to expect let's say 5% to 7% total returns. it's not the 22% we saw last year and what i think will probably be, you know, 9%, 10% this year. but it's still moving forward. i still think we have this good growth with modest inflation decent global growth, and i think it's going to last a while. >> is that with or without a trade war? >> well, now, if we have a trade war all bets are off that's not going to be good. that's not going to be good for the market at all. i would put let's say a 70% probability these negotiations are drawn out and end positively and i think they could -- you never know, they could move quicker than what we think but we're expecting it to play

out and be mostly positive but probably over a couple year period >> one thing i wanted to point out this is not a faang driven rally. and pace book, netflix and google are all trading lower so that's been the hallmark of this past -- this bull market that we have come to experience which is said to be the longest ever do you expect those growth names are going to take us higher going forward or is that changing >> typically growth carries you through until halfway until the next recession and value kind of takes over but i think what you're seeing now is some broader participation. you know industrials, that's a sector that a lot of people -- that's right in the middle of the trade war. consumer discretionary, xfang has done better. i think you're seeing the market and participation broaden out. and that's what's carried us so

close here to the all-time record high. in addition to fundamentals and we probably aren't going to make it through the first time. i think we're going to spend some time consolidating these gains like yesterday followed by days we saw today. but i think in the end this bull market is not over and we're likely to trade higher >> thank you to the bull that is scott wren, senior strategist at wells fargo. if you're looking to buy a home, listen to this we're going to tell you the cities where sellers are slashing prices. it's a buyers market, that's next and later we're counting you down to big kerns after the bell we'll get results from n viddia, applied materials and nordstrom.

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the housing market shifting from a sellers market to a buyers market. joining us now to explain, diana. >> home price gains are shrinking and sellers are starting to come back

down-to-earth. 14% of all listings in june had seen a price cut that's up from a recent low of just over 12% at the end of 2016 according to a new report from zillow in addition price growth is slowing in nearly half of the metropolitan markets rising prices hit affordability hard despite strong demand especially from millennials. there is a limit to what people can pay. all real estate is of course, local. in san diego 20% of all listings had a price cut in june up from 12% a year ago in seattle which continues to be the hottest market in the nation 12% of all listings had a price cut, the largest share in nearly four years l.a., chicago and even new york city seeing price cuts some cities are seeing fewer price cuts including san

antonio, phoenix, philadelphia and houston. the latest read on housing starts this morning from the home builders, not encouraging back to you guys >> okay, thank you, diana. and we should tell you you can read a lot more about all of this on cnbc.com and we've got a piece online all about it >> 11 minutes here to go before the closing bell and we've seen the dow pretty much hold its gains thanks to a number of good performers today an earn wrrgz cisco, wal-mart and boeing s&p up nearly 0.3% soch we're f the highs. nasdaq lagging and technology actually not one of the best performers in this rally >> you don't have a microphone on you can't talk this second >> up next we'll zero in on the

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welcome back to "the closing bell." this afternoon activist investor starboard valley taking a stake in symantec. shares of symatic right there showing you where they're landing this morning >> you almost got it it is lagging the other big indexes. bertha coombs. >> if you're in asia, let's say it is morning there. we are seeing the big caps not as large as the small caps today. nonetheless it's the small caps

today that are the stand out we still have a bit of weakness in chips today among the stand outs in small caps, pet iq, also riding a bit of tail winds on earnings, and cica having a big move on that among the large caps symantics is one of the best performers. and amazon even as it looks to be spending more money on content reportedly trying to get more stars to get on their twitch platform to expand it beyond gaming. cisco, of course, earnings mover really helping to move things higher on tech all around. and then you've got some of the laggards today jd.com hitting a new low after disappointing results that missed you've also got booking.com and

facebook one of those faang names today that's a drag on the index. you've got, you know, three of the top five market cap stocks to the down side, you're going to underperform a little >> okay, thank you nice to see you this afternoon not this morning >> very good >> but it does feel it's that good a day coming up when we return this afternoon, we're coming right back with the closing count down and after the bell, what's happening? >> boeing. one of the big leaders today driving the dow, we'll get the fast money trade on the stoc mi ular "closing bell." planet than people. planet than people. we're putting ai into everything, and everything into the cloud. it's all so... smart. but how do you work with it? ask this farmer. he's using satellite data to help increase crop yields. that's smart for the food we eat. at this port, supply chains are becoming more transparent with blockchain. that's smart for millions of shipments.

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welcome back to "the closing bell." we are here with bob pisani. what does this mean? what's happening here? >> what the market is saying today is what really matters is the china growth story china trade talks helps emilurates the worries that china growth may be slowing down the turkish contagion isn't going away, but so far it's been primarily in the international story. obviously there's concern with european banks but it hasn't dramatically effected us strong dollar, worry of china slow down killing commodity stocks throughout the week and today -- >> why is a strong dollar not killing exporters? >> it should be killing

exporters but our u.s. economy is so strong it's able to overcome that. down monday, up tuesday, down wednesday, up thursday every day we're down it's a concern about stronger growth, slowing dollar, and look at the sector movers today. the steel stocks were better we saw generally better in -- commodity stocks getting hit, chinaisti china stocks doing better. the gold went down throughout the day. there's a lot of talk some international banks may be sellers of gold right now. this has been a tough one to figure out very quickly on the china markets, hae got a point here. china's stock market is down 27% from its highs yet no one is lowering their gdp estimates for china this year.

it's at 6, 6.5%. the chinese stock market can become very disassociated from the chinese economy overall by intense retail investors >> always good to see you. and after this first hour is done we're going back to sara as our number two as "closing bell" rolls on welcome back to "the closing bell." i'm sara eisen in for kelly evans. let's take a look how we're finishing up the day on wall street the dow closing higher by almost 1.6% just below 400 points. 396 points higher. that was a clear winner, thank you wal-mart thanks to boeing, thanks to cisco. s&p 500 closing up about 0.8%. just off the highs there

still broad-based rallies. telecom, staples and financials leading the charge nasdaq up 0.4% and the small caps also doing well, almost higher by 1%. we've got some big names reporting earnings after the bell today we'll bring you the numbers as soon as they are out as always joining us on the panel today we've got cnbc contributor dennis berman and jeffrey sott, chief investment strategist at layman james intel was the biggest loser and over on s&p wal-mart was also the big winner chipotle the biggest lose. wal-mart helping the dow surge, giving the index its best day since april 10th what does wal-mart say about the overcome market and economy? >> the economy is stronger than a garlic milk shake. >> i don't even know if i like

that idea. >> if you look at the gdp figures and the real final sales which is better indicator of the economy than gdp because it excludes net exports and inventories it was up 5.1% >> i've still never had a garlic milkshake. >> no. and i know you have thoughts on wal-mart >> we've seen pretty stagnant wage growth. obviously expectations are those wages are going to go up particularly as unemployment continues to shrink. in my mind it's such a positive thing that the wal-mart consumer is willing to go out and shop and spend money. so to me it's an indicator that the confidence we have overall is there and is robust >> how much do you worry about this strong dollar larry kudlow policy if not the president's policy and how much do you ultimately worry about st.? today seemed to be as much about

china in a trade war or no trade war than anything else >> maybe some people don't want to admit this but maybe some are working on getting china back to the negotiating table. i think even in the ibalma area people would say we've got to do something ability this >> is your expectation that the chinese do come to the table and make some sort of deal >> we raised some cash in january when our intermediary and short-term models turned negative we've been bullish since then. we've tried new two stabs at new all-time highs usually it doesn't go through an the first or second try. the third try is the charm i think we're going to try it again next week. and i think earnings continue to come in at 20% plus. i think ed highman has a $200

estimate for 20 bp 20 20 on the 500 -- >> what about trade? >> you've got $230 billion against a $600 billion goods relationship between the u.s. and canada if you divide it that's 17% of the total relationship but if you take 25% of the tariffs on $110 billion it's only $27.5 billion, which is only 4.3% of the total relationship >> can we circle back to the wa wal-mart story for one second? if you look at some the other consumers? are working, some are not. is it really the wal-mart story? >> by the way, margins did decline in today's report as well >> i think as a general statement but wal-mart is a different company with simply a different cost structure obviously they've put a lot of

investment in. but a different cost structure than other retailers so i think that gives them the flexibility to make the changes they did whereas for the retail sector pretty broadly, which doesn't have the money to make retail investments this is going to fall behind. >> there is a question, right? so the margins fell. they're every day low prices, that's what their competitive edge has been. the fact consumers are spending is that really such a bullish sign-on the economy if wal-mart and other retailers are doing as well >> the gains have gone to the top 10% of this country and the gains have not gone to the bottom 25%, the fact those who shop at wal-mart feel confident to do so, to mow you could argue whether it's a leading indicator, a lagging indicator i think at this point you have to say it's a leader indicator if you believe wage growth is

going to come after us finally talking about it -- >> membership was down 31 ers. yeah, comp store sells were the best in a decade, it's absolutely true. and the consumer is strong i don't disagree with that but if you drill down into the it it wasn't as good as the street thinks. >> well, traffic was up, ticket sales were up. comps were even better >> and membership was down about a billion dollars and revenues were down. >> all right, i guess we can debate are you saying the consumer is not as in a strong shape >> i think consumers are incredibly strong. they're not keeping up with inflation but they've started to hook up and i think that's a good thing >> can i throw another stock into the mix that we've not talked about all day, well i mean not all day but at least in the last hour. tesla is down today in a meaningful way on a day when

everything else is up. >> i don't know if elon tweeted today. >> elon did not tweet today. do you have a take on this >> ron barren has been telling me for five years its his favorite stock and i've never bought a share because i can't my hands around the valuations >> dennis, there's so many angles here, where do we go? >> from my perspective when we look at the auto sector overall and the relative marketscopies of the biggest companies out there on earth and you wonder which would you rather have, tesla or bmw or gm, these numbers are huge >> well, the stock moving today is not a story about where tesla is relative to other autos i think it's a story about what are the legal costs, whether they're going to private, all these other issues >> and there's no clarity at the

moment nor stdstrom earnings they e just out >> for nordstrom's second quarter reporting 95 cents earnings per share on a gap basis. that's compares to analyst estimates, and also a beat of $4.7 billion consensus was for $3.96 billion. those comparable sales up 4% analysts had actually only been expecting those to be higher by 0.8% so almost four times higher there. it looks like the full priced nordstrom store up 4.1%. off-price up 4%, so almost on par there. also seeing full year guidance raised to a range from 350 to 365 comparing to analyst consensus of 346, so that's also a beat compared to last year 34% of total sales.

kids apparel and beauty some of the strongest categories back over to you guys. >> hold on, i think now we have something to talk about people >> because we've got a trend, two, andrew. >> macies had a good quarter >> but the point you were making earlier is we were talking about whether it's the economy that's stup stupid or the operations >> certainly an indicator the confidence is back, and i think we all want to see wage growth the average person doesn't quite necessarily do that calculation and maybe there's a bit more in the pocket this time to spend. >> that's exactly right. >> i'm trying to figure out the setup here for nordstroms. with macy's there was so much about the run up to earnings

and nordstrom up now 12% to jim kramer this morning saying i hate to be -- with retailers -- >> who said fashion was dead nobody >> to me here's the bigger concern about retail at large. a dollar you make online how much less or more profitable is it going to be for you as you make a dollar you make in the store? at the certain point you're going to reach equilibrium, and maybe it's better for you to have online dollar sales as opposed to physical dollar -- >> do you think it's a higher margin to me the fascinating conversation we always thought it was going to be a higher margin online. i think long-term it's not >> the people involved in online advertising can take a very significant sum of your margin to make sure that you reach the person that you want to, that's certainly a big weight on those

margins. that's the long-term question in my mind. >> another mover today, chipotle closing lower after chipotle confirmed the cause of that recent foodburn outbreak in ohio >> five have tested positive for a toxin linked to foodburn illness that occurs when food is left at an unsafe temperature causing gastrointestinal problems now, a specific food has been not been able to be identified and ongoing food and stool testing is still be conducting by the cdc they would not say specifically how many were confirmed. in response to this chipotle's ceo brian nical issued a statement that reads in part chipotle has a zero-tolerance

policy for any violations of our stringent food safety standards and we are committed to doing everything we can to ensure it does not happen again. it did close down to complete cleaning and sanitization and says it will be retraining all its restaurant employees starting next week on food safety protocols and as you mentioned the stock did close down nearly 4% guys. >> we've got a niews alert from tesla. >> these come from dow jones and essentially getting back to what the sec wants to know regarding the tweet he sent out last week saying, look, i'm thinking about taking the company private, fundings secured there's three questions the sec looking into, that gets to the question of intent, did he send this out not because there was a

deal in place but in other words to flush out the shorts which would in the eyes of many people who we've had on the air amount to market manipulation secondary to that the sec wants to know what elon musk shared with tesla investors about a potential deal in other words what were the communications if any before he cept out that tweet, and pressing the board of directors for details on elon musk what was the intent of elon musk when he sent out that tweet? was it as he says communicating with all of the shareholders what he believed to be what was essentially to be a done deal with the saudi sovereign fund and that's why he wrote funding secured or was he trying to flush out the shorts the question is intent and that's what the sec is trying to get an answer to

>> on intent it's actually a very interesting issue first of all, it's a civil case not a criminal case. so the intent in some ways, i don't want to put it to the side it's factual or not factual. and by the way the bar on civil cases much, much lower by the way, if you're a ceo of a company and you're long, broadly speaking you want to hurt the shorts >> i understand what you're saying >> so the question -- i yoent know, we should go back in history and see. has there ever been a case where a ceo obstensably and clearly was wrong was out to hurt the shorts by the way, when we used to cover the financial crisis back in the day dick foles desperately wanted to hurt the shorts and that's a factual issue by the way, if that's a criminal case that's a different issue and then you care about intent

and that's a different story >> you also care in this case. is there some e-mail or text between elon musk and a director we don't know, but if there's some communication where elon says i've had it with the shorts, let's send a message to them, i'll make it clear we can get it up to 420, let's flush them out -- >> that's where the facts are going to come into play. if he was even thinking about mildly to take this company private he's going to have a lo more leeway. i look at the legal ramifications for the company in terms of other institutional investors can bring against this company and by the way just the legal cost of dealing with it forgetting about whether you win or lose the case >> correct and that's probably where it's going to be far more costly than whether or not the sec ultimately slaps some type of

fine on elon musk or tesla as a whole. in terms of funding secured, he put out that blog post monday saying i had these meetings with the sovereign saudi fund, the managing director, and it's my understanding -- and i'm paraphrasing here. it's my understanding essentially we're going to have no problem getting a deal done, and therefore that's why i felt funding was secured. clearly the sec wants to have a more in-depth look here exactly what was agreed to and what was the communication between him and the board of directors >> dennis and i covered many a merger and we know a deal is not a deal until the pen is on the paper. and you don't write it unless it's done especially if you're in that position >> or tweet it, i guess. >> i think that's a very fair point. jeff, your view? >> i couldn't agree more >> you've been digging into this -- >> look, there's an army of lawyers and bankers and it's a

circus >> and with a potential on sec investigation, what does that do to any process of taking the company private and making it look they're taking the company private? >> to me the more complicated thing is assuming there's no criminal case here do you want to make an example of him, and what's the consequence of making an example of him? does it put the company in jeopardy or -- this is when it becomes as much a justice story as it does a political economic story. >> still many questions. thank you, guys. >> i'm going to see you guys at wal-mart and nordstrom, right, this weekend, shopping. >> yeah, i guess >> the rest of america is out there. >> i need to get presents for my wife, that's the right answer, right? >> thank you, guys up next while wal-mart soared today consumers are spending in places other than retail, too. we'll have the details next.

plus nvidia earnings are due utany minute "closing bell" returns in a moment

wal-mart earnings today showing consumers are spending money again, but the spoke highlighting data showing people are also spending more money eating out as well spending on restaurants almost outpacing spending on groceries. the sector now accounting for more than 12.1 total sales making it the third behind autos. >> let's go through the list, my friend who is going to win here >> well, so three names that look interesting here based on overall, like this overall trend but more specifically to the companies and consumer taste, first is restaurant brands, qsr they own tim horton's burger king and so what's going on with them is their traffic at their stores in our monthly consumer report survey is very strong. near the highest levels in the history of our survey. so strong customer traffic there

and popeyes, they own, too, that stock has been doing well. shake shack is a smaller name. all over new york but not all over the rest of the country we're going to see it's a nationwide expansion play. valuation there is a bit of a concern. but in these kind of big expansions you don't get cheap, and shake shack has great technology with their mobile app. they can take a lot of orders with minimal labor costs and then finally is a company called noodles and co. it was pretty much a failed ipo four years ago the stock did nothing but go down, and that was mostly because of its expansion strategy they weren't ready to expand as they did, but they've really closed in underperforming stores in their last year and that's a turn around play.

>> where is noodles based? >> they're not around this area, more midwest, but that's the point its the expansion strategy >> from their $52 high to $10 to your point -- >> right, they came out an ipo and it was horrible for three years but the stock has been beaten down and it's rising from the ashes, so to speak and it's a member of our list of growth stock >> is it sometimes the mix between like going to restaurants over grocery has to do with some the inflationary pressures and price pressures and we're finally to see that rise across commodities, and does that change the dynamic >> that could be, that's a part of it. but if you look at the chart it's a trend that's been going on for some time now

and so i think there's a lot of factors at play. it's the experience, consumers are looking for experience over goods. there's more empty nesters they go out more often than people with families disposable income is higher. and, you know, double -- with both heads of households working there's less time to cook and also technology. >> paul, we've got to go give me your ten seconds on chipotle i just need to know given every day there's another headliner on chipotle >> i don't know what the food quality issues are, but it keeps cropping up and you don't tend to see that at a lot of other companies. it's a tough story right there >> andrew selfishly wants to make sure he's okay. paul, thanks again

we've got to get to inviddia because they just put out earnings nvidia reporting earnings per share here of $1.76. revenue $3.12 billion versus expectations of -- other highlights to look for here data center revenue up 87% to 760 million. looks like gaming revenue comes in at $1.8 billion professional visualization up, and automotive comes in at $161 million. call starts at 5:30 eastern, an we'll be on it >> nvidia stock reporting those earnings moments ago and we're going to get on the

phone. what's your quick take here? >> yeah, i think really the hang up here is going to be the guidance for next quarter. there's still a lot that needs to come out on the the call here in terms of trying to figure what thought the actual pieces are, but it does look a little bit light. it also looks like gross margins are little bit light here. so again we're going to have wait for more details here, but slightly disappointing >> just to put a fine point on it, it looked like a beat on both the top and bottom. you're saying there's a margin issue and you're saying more importantly there's a guidance issue? >> yeah, it is a guidance issue that's going to be the hang up here people are expecting touring the next jenation our family of gp ur us to come next quarter. this office is surprising.

people maybe just got a little bit ahead of themselves on that next product release >> i mean does this have the potential to be a turning point for the stock which has always been a buy on the dip on the big picture. they're in ai, gaming, self-driving cars and the whole big pick >> i think the secular story is still alive here, no doubt but we're just going to have to figure out why this guidance is a little bit light is there too much gq channel inventory out there, in front of this next generation launch. >> what was your target of the stock going into this number >> i believe we're at 250. >> so you're going to have to do some work and maybe reevaluate >> that's right. >> appreciate you calling en thanks >> thanks so much. coming up boeing shares taking off today, pushing the dow sharply higher

very bullish analysts call, fast money traders will tell us just w ghhohi this stock can go and whether they agree with the call coming up next

we've got another earnings alert for you on applied materials now. josh lipton with those details >> applied materials reporting earnings per share here of

$1.20. revenue $4.47 billion versus $4.43 billion. revenue they're looking for 3.85 to 4.15 billion. just looking at the segments here, sara, semiconductor systems net sales of 2.75 billion applied global services the net sales coming in at 554 million >> i want to get a look at how we finished the day on wall street let's take a look at the dow >> higher. >> it is higher. did you hear about that? it's up 396 points s&p 500 up about 22 points nasdaq up about 32 points and russell 2000 up about 15 points.

for every listening on the radio that's how you do it >> let's get to some of the other big stories today in our rapid recap. >> china says new trade talks with the u.s. are set to take place later this month >> without getting into any details i just think this is good thing better to talk than not talk >> these uncertainties with trade, the election, the fed being on the aggressive side i believe towards the end of the year i think are going to keep a cap on any real surging stock market we have >> wal-mart reporting blow out results. the retailer has its best growth ma decade. >> i was stunned how good it was, sales were fabulous, margins were solid >> cisco out with strong results and tremendous guidance. >> we clearly have created a great deal of momentum with

solutions our customers are looking for. >> meeting with his cabinet, getting ready to restart trade talks with china >> the single biggest story this year is an economic boom that is durable and lasting and that most people thought was impossible >> i don't mean to say it, but i hate to say it, he's right, i was wrong. i didn't expect this he was absolutely right. i don't think a lot of people expected this, but here we are >> with the economic boom. >> yes, 100% >> no, completely. and economists were not expecting it as well i think the one question, though, is do they shoot themselves in the foot with the trade policy, with tariffs, slow economic growth and slow global growth and larry said the economy looks terrible in china, if that's really the case that's not good for the u.s. >> no question in the meantime i want to get over to sue herrera who's got the cnbc news update

here's what's happening at this hour, everyone. the military parade president trump is planning for november will cost $92 million. a defense department official telling that to cnbc the first cost estimate was $12 million. the pentagon says it expects to make an announcement soon. a volcano on a small island in japan could be about to erupt. japan's meteorological agency raisi raising the alert level and telling the residents to prepare to evacuate. nyu medical school will now be free-for-all students school officials say they're worried that the high cost for medical school is forcing people to pursue other careers instead of medicine. they already have $450 million to the $600 million needed to fund it forever. $100 million of that came from the home depot founder ken and a bear is trapped.

police had to shootout the rear window so that little guy could escape they shot it out with beanbags, by the way it cracked enough to allow the bear to escape they think he went into the car looking for food, but couldn't get out. apparently they can open the door from the outside but not on inside so there you go. he's free and fine sara, andrew, back to you. >> we just had a bear the other day in connecticut with a liquor store. it broke into a liquor store >> we did that story and the customer that went in after the bear and didn't even notice the bear, that was the best part of the story. >> bears are viral >> today the bulls are winning >> there you go. back to you guys >> boeing shares keep flying high,showing no signs of slowing down up next the fast money traders

will tell us whether it's too late to get in on boeing and later the mayor of los angeles explains to us why amazon should pick the city of angels as the home for its second headquarters. we're back in just a moment. with tripadvisor, finding your perfect hotel at the lowest price... is as easy as dates, deals, done! simply enter your destination and dates... and see all the hotels for your stay! tripadvisor searches over 200 booking sites... to show you the lowest prices... so you can get the best deal on the right hotel for you. dates, deals, done! tripadvisor. visit tripadvisor.com

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shares of boeing soaring today, up more than 4% after ups raised its price target saying the stock has climbed more than 50% in the past few months, so a time to wyoming. also industrials got a boost today on word of u.s.-china trade talks. is it too late to get into boeing >> i kind of feel it's too late. i do feel like today is not the day. here's the thing that really gets me about boeing it's not the stock chart actually but the other chart i sent over. the thing that it shows that is so important is the pe, right? this is cyclical company so it used to be these things traded with sort of cyclical kind of pe numbers but if you look over here not the price, it's this it's a 20 plus times pe multiple for a company that admittedly is

in a very big cycle and has been for a while and may continue for a while, but that is very, very expensive multiple for a cyclical company and i don't think the sick liicalil liicality is out of the industry plus you're not going to see earnings for a little while. if trade is resolved right away it's going to trade up but i don't think the risk reward right here is worth it. >> are you buying into the higher valuation, brian? >> not yet the reason why it has that higher valuation is because of the growth story with the emerging markets and what we've seen happen recently is those markets are deteriorating. if you're trading a high pe and growth starts to slow that's a problem. if things change, if the trade war is ended you're going to have kinds of time to buy a break out on boeing. why risk it for 5% here if it's right and you're looking at a

50% gain >> i can't be on tv with you here without asking about bitcoin. >> go for it >> i need to know is $6,000, a break line for you. >> it's an important point for the market 5,900 is the high mining cost. that doesn't mean it can't trade below that commodities trade below production costs but at these levels you're back to prior the futures run up back to last october. for me this is great entry point because i know my stock is just below 5,900, 5,800 >> you've got a lot of great entry points i believe lately. >> yes, there's been a couple of them but no time like the present >> thank you >> thanks, guys. and tonight on fast money with the crew amazon and wal-mart caught in the ultimate

battle for the consumer. who will come out on top they'll take to a top technician on that. movie pass's parent company has burned through nearly $200 million in cash so far this year but the service is refusing to shudder and instead has actually revamped its hebship details but first amazon could narrow down the finalists in its hunt for hq2 as soon as this month. wat you're watching cnbc first in business worldwide back in a moment ed our world. i had no idea the amount of damage that water could do. we called usaa. and they greeted me as they always do. sergeant baker, how are you? they were on it. it was unbelievable. having insurance is something everyone needs, but having usaa- now that's a privilege. we're the baker's and we're usaa members for life. usaa. get your insurance quote today.

welcome back to "the closing bell." rumors are swirling amazon is soon going to be narrowing the sites for the second headquarters hq2 he has a very exclusive guest, scott? >> thanks, andrew. a lot of the conversations have been going on for more than a year now where amazon is going to put h-q2, have not really included los angeles our guest is here to tell us why that's the wrong idea. the 42nd mayor of los angeles. high should it be in the thick of things for hq 2

>> we're almost the size of new york we graduate more engineers than any city around whether it's logistic wheres, the creative capital, manufacturing, international trade. we think los angeles offers something that's different than any city in america. we've been the underdog before, and i'd say we're an underdog. but we were for the olympics, the george lucas museum, other things recently. i think when people come out here they realize how deep it is, how rich, diverse. >> what do we know about amazon's process here? there's been a lot of talk a couple of months ago they said they'd be narrowing it down in a couple of months, which is where we are now what can we expect >> the other thing i'm impressed by is they want to make an impact on the city they come to. and here in los angeles we've

been very open with the investments we're making to end homelessness, transportation in the car capital of america and they're looking at a city both in term of the quality of life in the company and also quality of life in engagement, how they can be part of a good news turn around here we've really embraced i think that ethos and have a lot to offer them. >> hey, mr. mayor, you talked about public transport one of the big issues of course is traffic and one of our residents in your great city is trying to fix that that is elon musk and his board came out with a prepsoposal to build an underground, i guess a people tunnel that would effectively get people to dodgers stadium. what do you make of that proposal >> he called me the next day and

said, hey, do i need any permits to do this stuff and i said, yeah, i think you do and let's work that out together we're looking at two places but one in the west side of los angeles that he's doing some experimenting. today or yesterday we announced that plans for him to pay out of the boring company's pocket to go from our subway line iphollywood straight to dodgers stadium. which i think is combining something we love here, the dodgers to something we hate here, the traffic. >> mr. mayor, i just wanted to -- >> we've been looking at l.a. in terms of amazon's priorities, and of course nobody knows what amazon is thinking, but i want to go through a report card we put together they want a population of a million people, you've got that.

stability and business friendliness, not so well. talent, you've got the work force here, some issues with things like infrastructure and housing and b plus location is c plus again because of the instruct is overall a b is that fair >> no, i'd say location is an a plus los angeles, east coast, new york to london is the most traveled in the world. i think if we didn't have a city here we'd have to build one. and when amazon which is about moving goods look at los angeles where twin ports of l.a. and long beach we're densely populated but we're spread out so we have a chance to test new ways to deliver things on street and air. aerospace is based here, and amazon prime already has a huge investment here. we're confident amazon will grow their investment in los angeles. whether they choose us for hq2 or not, i think it's kind of a connector to this world and

connector to this nation >> $5 pillion in investment, $50 billion at stake >> thank you thank you to the l.a. mayor as well thought it was interesting twee asked if we needed a permit. >> i wanted to have a longer conversation about mr. musk. another time >> we'll talk movie pass also in the news a lot lately and launching a new plan, limiting the number of movies available each day would that bring the service back to life that's next. [phone ringing]

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welcome back to "closing bell," movie pass announcing a

pass it will only allow viewers to choose from three movies a day. >> they come against the lawsuit and the parent company, accused the company of defrauding shareholders of misleading or withheld information joining us to discuss this is eddie yun. the think tank of eddie woodgrow and the author of super consumers and a simple and speedy and sustainable path to sustainable growth or just annoy their users. >> it's probably more annoy their users and the core issue, is they're focusing on the urgent versus the important. there's really no pricing per mu mutation that can fix the fundamental problem that they're a gross margin negative, right they'll charge $10 a month per user and whatever they do, unless they're going to offer

you, say, they can only watch $10 a month. if they raise the price to make it gross margin positive people won't sign up, if they keep it attractive so that people find out the scale it will continue with money >> it's the basic -- >> go ahead, sorry. >> the key point is that this business is not really about movies itself. and it's about the broader experience that moves the company and so some of the research that we've seen is when you're going out to the movie by yourself that you'll spend their 50 on a whole evening and if you are going out on a date, you might spend $is 00 and if you're going out with your family, you'll probably spend $150 how do you use it to monetize the other aspect of the evening and the business model is set up to do and they're focusing on the wrong issues now. >> the two issues in our line about the business model i equate it much more about the

epic -- some of these big ski passes and i can get the people to the mountain and the question is, as you said, can you capture the entire evening and just what happens in theater and the second issue which i think is a much harder one to deal with, is do you think the company should be willing to cut out the big cities where it's too expensive. >> and great question. >> on the latter point for sure, this model would have, woed far better, and the ticket price of a movie in nebraska in new york to california, and a middle of the country and non-urban center model and to your first point, using the epic example and the part about the ski example is we bring people to the mountain and if you have people ten times, and the marginal time is nothing, right where adz the marginal cost goes $ten, 11, 12 times continues to

be very high and so this the fundamental thing they can't fix and usually, you want a subscription business model where you have a lot of fixed costs and low variable costs and what it's effectively done is you've invited homer simpson to a buffet model and that rarely works. >> we'll leave it there on that good line. >> eddie, thank you. i know you've been interested in the story. >> there's got to be a way to do something here and maybe the answer is to make the price point higher >> maybe they train consumers. that's the problem big names reporting after hours xtn helongeleck on the stocks ne o"t csi bl.

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about trade and emerging markets and whether the two interest rate hikes that are baked in for the rest of the year are firm bets and how good they're feeling about next year and how good they're feeling about this economy, you might even call it a boom >> thanks for hanging with you this was fun. >> you should come back in the afternoon. >> we'll see you for the morning show "fast money" starts right now. "fast money" starts right now live from the nasdaq marketsite overlooking times square i'm melissa lee,ed traders are karen finerman, and shares of nvidia after hours and we'll have instant reaction on the stock and what wall street is saying about the earnings report and walmart surging nearly 10% after reporting a 40% jump in online sales, and is it coming back to take on amazon and the top technician weighs in, but first, we start off with the epic rally on wall street and th