today. they've been around a while. >> they survived >> i just did some travel to portugal which was the first of the pigg countries the piggs, lots of borrowing and nice roads they've built >> and "closing bell" right now. it is time for "the closing bell." i'm mike santoli in for wilfred frost. apple hitting a new all-time high this morning. i'm breaking down the data behind one of the best performing sectors during the bull run here, and it's not what you think. it's not big tech. julie boorstin in los angeles, netflix is testing out video ads to promote its own contact. will paid ads be next? entrepreneur, mother and tennis powerhouse, serena

williams joins us for an exclusive interview to talk about nike's new queen collection and much more "the closing bell" starts right now. welcome to "the closing bell" and welcome to mike santoli, back from vacation. not allowed anymore. >> not for a while >> in just a moment, but let's check in on the markets. still up 100 points thank you to boeing, j&j, goldman sachs, nike now touching the highest level since january 2nd on the dow >> briefly it was down 28 points at its low and speaking of the nasdaq, tesla still under some pressure today as jp morgan becomes the latest to express doubt on the company going

private. >> i think this is the beginning on what we're going to hear from wall street. they're finally weighing in on the last two weeks, what elon musk said we're going to go private, 420, funding secured. they did say they had cut their price target from 308 back to 195 saying any deal, talking about going potentially private is potentially far from even being formally proposed. that's one reason why they're saying until we have something we're bringing it back to 195. instead the investor right now should focus on fundamentals a note from citi that says if a go-private transaction is looking less likely we think it'd be wise for tesla to at least try to raise significant new equity capital sooner rather than later as you look at shares of tesla

going back to when the tweet was sent on august 7th, this was an interesting story. over the weekend aeroyawna huffingten basically put out a letter to elon musk saying, look, you should get some rest and elon musk responded yesterday saying ford and tesla are the only two american car companies to avoid bankruptcy. i just got home from the factory. you think this is an option? it is not. so, guys, this tesla story continues now with the stock trading just under $300 a share. >> i think that was sent at 3:30 a.m., wasn't it, that tweet? >> it was. >> phil lebeau, stay right there. we also want to bring jim crest into the conversation. maybe that investor angle phil j just pointed out after that spike and the decline since.

what do you think the market is telling us about elon musk, the sec investigation, the odds of tesla going private. what is it >> this is the risk of running a new business versus an old kind of business that created profit. it deals with speculation of the stock in anticipation of what it's going to be in the future versus what the results really are. and the difference has been what comments have come from elon musk and his conversation about generating profit and cash burn. so i think there's some reality coming into it this is actually a business. it's going to have to create profit, and he's got to find somebody to either buy it or manage it so they can have a sustainable business going forward. that's what the market is saying >> jim, obviously elon musk has been kpexasperated for some tim with the way the public markets treats his company or is maybe too focused ibhis view

short-term results and it seems to him there's a larger mission embodied to the world for tesla. is that true and is tesla the only way, the main way that's going to be propelled forward as an objective >> electric vehicles are being mandated by society. the reality is the market treats him very well. if you look at the market cap of tesla, $50 billion compared to ford the profit, the stock is about $9 it shows there's a disconnect. i understand the frustration, but going private may not be the best even though the devil that you know versus the devil that you don't, maybe it'll actually treat him better i'm not sure what the goal is. >> part of the question, phil,

that investors have is how likely are the saudis going to line up the funding and take this company private what do we know in that front? feels like their investing in a competitor is that news worthy? >> we don'ts know a whole lot. and you saw the report from reuters the saudi investment fund is preparing to invest in in a startup electric company in china. if that is true, it raises the question will the saudis want to invest in tesla, how much money do they want to invest, would they be willing to take up as much as tesla is looking for i have a quick question for jim. jim, a lot of people have said what elon musk needs right now is a coo or someone to really be a nuts and bolts manufacturing

guru, someone to ramp up production how attractive would a des lujob working with elon musk be, or would they be a little gun-shy >> customers love it, the technology is good, he's a creative genius. i think it's attractive. they are a disrupter and they are going to help create the future you're exactly right it needs a management professional organization that can run day to day he has the concepts at 30,000 feet but you can't do everything and another thing, phil, that's a great question also remember he's the only one that's trying to run the distribution channel and capitalize that at the same time and there's a whole opportunity there for an independent distribution channel to take half the workload off and create the sales. i think you could find someone to take that job

>> jim, you know, there's been this premise out there that as long as they could get the production side under control and actually produce at scale, the demand would simply be there. now, they're having a hard time producing many of the model 3s at the $35,000 price point that was talked about for so long is there a demand out there very deep and pervasive among consumers for an electric vehicle of this type if you're paying out-of-pocket at a subsidy and $35,000 or more. >> it's actually more than $35,000 in terms of the way they're equipped it's limited especially if you think what the future of the market is going to be with higher interest rates and slower sales. you need to have a marketing organization, have to have sales, an active distribution channel. and you really do need day to day management operation you can't sit by the plant and spend the night there to run everything you can't funnel everything through one person it's too much stress >> i was going to ask if you

need sleep, jim? how much were you sleeping when you were deputy ceo of chrysler? >> well, at the end of that it was also tough stress is tough. i always have a saying if you don't have stress, you should give it and he doesn't have anyone to give it to that's what he needs that's what phil said. >> maybe that's what he turns to next, someone to give his stress to let's get to our closing bell exchange today andrew joins us along with kim forest and rick santelli, of course, with us from the cme thanks to everybody. andrew, give us your take on how the market is setup here we're looking at the s&p 500 kind of make this halting approach towards highs, supported by those good earnings but without a lot of momentum and you see some defensive rotation within the market so what does that say to you

altogether >> i think you're absolutely right. there's been a defensive rotation yet the market is nearing an all-time high you just wondered since this bull market started we've almost had these geopolitical issues that rear up in the middle of the summer and the stock market has sold off, and you just wonder if vestors are saying uh-uh, i'm not going to get burned off this time you just wonder whether you're getting a rotation of leadership, but the market overall hasn't sold off. certainly the defenses have done very well, but the rest of the market really with the exception of energy really hasn't sold off that much this month so i think it's just a, you know, kind of rolling bull market of sectors, and i think the investors have gotten smart enough to figure out that it's about the fundamentals estimates keep going up, and that's pretty bullish for the market, and they've tuned out

some of the geopolitics which in the past people have overreacted to >> do you feel any clues, and the dollar has weakened a bit and some feel it has peaked. >> it doesn't surprise me at at all we have the effects on the dollar index from everything from financing commodities to trade that the dollar would back off a little as the market gets used to the new aroma in the room but exactly how far down it goes is going to be the key right now we're still pretty close to 96. on the way up it paused around 95.5 that's a pretty good bench mark. but this week in wyoming, it's going to very integral to how the dollar trades. is the fed going to be tempted

to slow things down a bit? there's always going to be issues around the globe, always going to be hot spots. investors are going to be looking to j. powell's speech. knowing that the dollar index has a record amount of longs is something to ponder in the context of your question >> a little crowded there. >> rick, i know you've been talking about all day about the report about the crowded short in te in treasuries, right kind of a mirror image trade right there. >> absolutely, total mirror image trade. i don't think there's any doubt in anybody's minds if you could go forward a couple of years the dollar would be higher and rates most assuredly would be higher

it's the path it takes to get there and playing prominently. many believe it's going to be that low we establish on may 29th with a 278 yield close. we're not that far away from really a test to see exactly how hunkered down these short investors and treasuries are >> you've been looking at the use of cash, dividends, buy backs, capital investment. what sort of signals are you seeing there as it looks to which parts of the market are worth investing in >> sure, and some of that is we've trained investors to go look for yield and yield comes through dividends now as opposed to fixed income because of, you know, what happened ten years ago. but that being said it is a good sign whenever companies say yes to increasing dividends. they really, really don't want to ever lower a dividend

that shows you that the company is not doing well, so, you know, to say, yes, i'm going to commit to a slightly higher dividend is a real big deal to a company and i also think that that takes out the dumb acquisitions or maybe some spending in other areas that the company shouldn't do so we see this increase in dividends and i think that really portends well for the health of companies around the world that are choosing to do that >> there's no doubt, kim, you do get that aspect of discipline, kind of dividend pay outs will enforce on company management. but do you think as a trade this actually is sustainable, that these defensive areas can continue to work, sore is it just kind of holding down the fort until reciprocals and growth stocks start to move again? >> well, look, all investors love growth. and i think they like top line growth first, earnings growth second and dividend growth

third. so whenever we see more top line growth momentum may pick up again. and that just looks like what investors like they love growth in that order >> all right, we're going to leave it there thank you very much. up next, venezuela's president unveiling a new plan to stabilize his country's economy. but the extreme measures are already stoking new fears. we'll bring you up to speed after the break. and later the u.s. open kicks off next week in new york and this year tennis superstar serena williams will hit the court in a nike outfit designed by the megadesigner virgil abloh. coming up on "the closing bell." ♪

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look at the negotiations >> those senior trade officials are in from europe, here in washington and meeting with their counter parts. and their goal is try to flush out the agreement both sides reached july 25th. the focus will be on soybean and natural gas exports for u.s. companies, which the state department has been helping to source some suggestions for these this weeks talks. eu officials will join another meeting with the u.s. in japan on friday discussing wto reform and how to potentially challenge china. it's interesting timing for that meeting considering the big focus of the week is the chinese delegation in d.c. beginning on wednesday. they could stoke meetings as well as thursday's meeting and the potential to still slap tariffs on china this week regardless the talks are being billed as a precursor to potential meetings by president xi and apec in november.

>> definitely david is going to be meeting with folk and they're going to be down in the weeds. i think he's kind of our weed twhaker. he's over there in treasury and he knows the details and stuff we have to bring to the chinese. the fact they're here this week is a very positive sign. >> a positive sign according to the white house. though many are asking if the cabinet level delegations in previous months could not reach a deal with china, how will lower level delegations cross that bridge, will they be able to make a deal we'll see what happens on wednesday and thursday of this week guys >> question, so it looks like we're following three major trade stories that the administration is negotiating right now. china, europe you said and of course mexico and nafta.

what's the time line for all of those and how realistic are all three? can the president get three wins here. >> well, he can at least gets two wins there's no real deline for the europe deal. they got the announcement july 25th and now they're just trying to fill in the gaps on exactly what that looks like on nafta you basically have until the end of this month to reach a deal because at that point you have to notify congress for a potential vote within 90 days you have to notify them you intend to sign an agreement within 90 days and they want to get that done before the mexico president takes office december 31st they feel good with where they are about mexico but we don't know where canada is and then there's china you have a lot of deadlines coming up speckled throughout the fall, some of them intense throughout the markets than others you have the treasury manipulation report, this $200

billion traurch ariffs standing there in the wings a lot can happen between now and then >> a lot in the air. trade tensions are certainly having a big impact on a wide range of industries and boat makers are already feeling the pain from higher costs and retaliatory measures our contessa brewer with a look at how one yacht company is navigating the trade storm >> so there are thousands of man hours that go into building one of these yachts as bertram yachts in tampa. and what they're seeing are skyrocketing prices on tariffs on the price to build these. here's a stainless steel cleat, and all of these parts more expensive now because of the trade war. 15% of all the boats and engines that are built in the united states get sold overseas

two thirds of those heading to eu, mexico and canada and now facing 22.5% tariffs with foreign buyers balking at the additional million dollars tacked on tew a $4 million vessel >> the real concern we have now is there appears to be no plan we're hearing that negotiations are going on with europe, and we will have these tariffs lifted but we see no evidence of progress, and we have no support from the government. >> by the way, bertram got the paperwork to apply for a waiver for the steel and aluminum tariffs but says this is very cumbersome process and oh, by the way, the u.s. boat industry has been losing market share to european boat makers, and they say there still aren't u.s. tariffs on the import of boats here they're still facing no

additional burdens to level the playing field for american boat makers sarah, mike? >> contessa, this is kind of representative of a lot of the stories that have come out of this trade skirmish which we realize the u.s. has some pretty competitive export markets, even niche markets like this one. is it just kind of a hiccup? >> they simply don't know right now. but the expansion plans here at bertram yachts rely on global growth they say, look, there are people who are buying boats outside of the eu, canada and mexico. they're selling one of the big boats, a 61 footer to a guy in japan, but they say it becomes more onerous to try and find those buyers for every single one of these boats that's in production >> absolutely. yeah, it's got to be hard to replace one of those big ticket buyers

contessa, thank you very much. let's turn now to venezuela, fears of instability growing as president maduro took dramatic steps to devalue the country's currency >> banks in ven waila are closed today as the leadership tries another round of what they call economic reforms they did a massive value agsz of the official currency rate, which is basically an acknowledgement that the black market rate is much more accurate they're going to introduce a new currency which removes five zer zeros as the country suffers from high inflation. a 100,000 bolivar note which is worth 3 cents. all of those things happening in the same day it's worsened the serial like

border prices with its neighbors as many are trying to flee what's called the somalia of latin america. the government claims price controls and state control of resources. wall street journal reporting goldman sachs is facing criticism from bonds in venezuela last year. in june they marked them at 18 cents. those are reportedly held by goldman clients. >> michelle, thank you we've got about 45 minutes to go here before the "closing bell. dow is going strong up 108 s&p also up higher nasdaq has turned positive, still lagging the other two. that's pretty much what we saw all week, last week. nasdaq closing down on the week.

s&p higher still ahead pepsi making a multi-million dollar bet on soda stream and speaking of potential bubbles, are we going to be talking about apple hitting another all-time high and pushing further into the $1 trilonart rk li mkema ♪ experience the versatility of utility. at the lexus golden opportunity sales event. get up to $2,500 customer cash on select 2018 nx 300 models. experience amazing at your lexus dealer.

welcome back to "the closing bell." here are the three biggest losers on the dow today. you see apple, intel, and wal-mart, all of them down between 1% and 1.7%. >> a lot of food news today. tyson foods is buying keystone foods for $2.16 million in cash. that acquisition includes six processing plants and an innovation center in the u.s. tyson says it'll strengthen its global presence. the deal expected to close next year they brought it from a brazilia company. it fits nicely with tyson's portfolio as the largest meat supplier in the u.s. >> obviously a slow growth

market and this is the way to do it >> in the meantime let's go to sue herrera for a cnbc news update here's what's happening at this hour, record breaking wildfires are causing problems for washington's puget sound winds from the west and wildfire smoke from the north and south are causing thick smog and unhealthy air. the cdc recommending people in the affected areas stay indoors with the air-conditioners using the recirculation mode a sign for a catholic high school in cranberry township, pennsylvania, was vandalized with red spray paint covering the name of cardinal whirl he say partly faulted in the pennsylvania grand jury investigation into the cover up of child sexual abuse in the catholic church merchandise. afghan forces freeing 149 hostages who had been seized by the taliban in the province. the militants had captured four

buses filled with passengers afghan soldiers were able to free most. but fighting continues a photographer was able to film a dangerous waterspout off the coast of new zealand just minutes before it made landfall as a tornado surprisingly and luckily given the size of that thing no injuries were reported you're up-to-date. that's the news update at this hour >> so does it go clockwise or counterclockwise >> i don't know. i should know that i study science with my kids all the time >> you should know >> stay tuned for the next news update i'll have the answer >> all right, sue, thank you very much. let's check out the stocks to watch the company saying product

innovation and creativity were strong across all brands the stock up a little more than 3% on that news. worth noting estee lauder really had this huge surge in the summer the kind of make-up trade was a popular one. >> well, it's a stand out for household products and consumer spending jim kramer this morning was talking about how they've benefitted from the international traveller setting up in all the duty-free and airports and getting in front of the consumer that way. and it's been a huge growth story. >> obviously bouncing here exactly from the june high another winner to point out today, nike receiving a pair of up grades today. changing its rating from positive to neutral and citing a strong global athletic trajectory, also saying a lower risk profile, leaner

inventories. nike is also launching a brand new collection with serena williams and designer virgil abloh. it's a cnbc exclusive to discuss how they've worked with both of them in nike number one in the dow for 2018 up more than 30% >> wall street has just embraced this idea that they're in a good part of the cycle, strategically they're in the right spot. just wonder if these up grades they're just kind of chasing >> they're late. it came off that very good quarter, but at least the point of jeffrey we need to not look at the point growth for nike because they're having double digit growth and there's a lot of momentum going into next quarter in terms of the reports. >> it is worth noting when the stock responds positively to the up grades, maybe they're not

lasting. a slow down of 3%. >> and one of reasons why is the person we just teased verge ilabloh. s&p 500 is up about 0.3% and the nasdaq on a comeback trail. apple still down, but the nasdaq composite up there's one sector in particular that has awarded investors with o sutized gains we'll tell you what it is straight ahead

welcome back to "the closing bell." it's kind of a mini rally, mike. the s&p up 0.3%. but it's broad energy, industrials, consumer discretionary leading the charge higher only two sectors are in the red right now, utilities and technology which is now finding itself at the bottom of the pack >> the market was good even before the index had this little lift >> and a continued rotation out of tech into some of the other

groups like energy and discretionary. >> for now that's right. shares of soda stream seeing a pop today on news it's being bought by pepsico. we'll discuss those deals and whether we're seeing a bubble next and later change could be coming to netflix. why viewing experience could be interruptethne te d e xtimyou binge watch your favorite show "the closing bell" will be right back you always pay your insurance on time.

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welcome back we have a market flash on imax josh lipton has the details. >> some news here on google and imax, that they will not be building a vr virtual reality camera together it looks like. a joint camera project that the two companies had embarked on has actually been canceled, this is according to a new report just landed from variety which is reporting they were collaboratively on the development of this camera imax bringing its expertise in high rez cameras and google bring its stitching for vr content. it has been quietly canceled

we reached out to google for comment. we'll bring it to you when we get it >> is it a lack in confidence in vr as a product category, sore is there something specific about their partnership or we don't know >> you know, unfortunately here, sara, i don't know yet i just have these details i'm bringing to you guys we've reached out to google to hopefully get more details, more insight why exactly it was canceled >> keep us posted. josh lipton, thank you shares of sodestream jumping today after pepsico announced it is buying it this is pepsi's latest foray into sparkling waters. helped by brands like lacroix, spindrife, bubbly.

there are a lot of players here. bill, sparkling water bubble it does appear to be growing a lot faster than even bottled water >> it's too early to call it a bubble or if it is a bubble it's certainly too early to say it's going to pop everyone and their brother has realized they've been making bubbly water for quite some time be it some of the alcoholic beverages companies are getting into the market. so there are a lot of new products hitting the shelves we'll just wait to see what happens. >> jeffrey, where does sodystream fit in the sparking water market share landscape i mean it is pretty fragmented with nestle also a major player

in this smpace >> as the product type continues to grow, this is an interesting move because it lets pepsi access it at a different usage point. the in-home usage is almost a different case for a lot of people and if they want to cut waste on the go, they're going to do that i mean, if they want to cut waste in the home, they're going to do that so it's almost a good idea to grab a chunk of what continues to be a fast growing capital >> bill, is this fundamentally a defensive move by pepsico? obviously it's within keeping with some of their ideas lately. but if in fact there's going to be a backlash against bottled water and perhaps bottled

seltzer, they're going to offset some of that >> it's almost like they're tapping into the whole trend of plastic straws going to paper straws the worry or the opportunity is there's that backlash on plastic bottles or some bubbling up on the backlash of bottles. and so they're adding defensive moves so they can tap into each of the markets, both bottled and nonbottled and see how the market plays out but they're sustaining this as more of a sustainability type aczusitia acquisition not just entering the seltzer water market >> it feels like the jury is still out on that whole concept after curing cold was atotal flop after it launched a few

years ago. do you think consumers are going to be wanting to make their own beverages at home? is there a real future of a mass market of this kind of technology and use >> i think what saved sode astream obviously was a mifbt to becoming a carbonated water company rather than an at-home soda maker so i do believe that this is -- this is something that does give pepsi sort of the leading brand in this appliance space. the other part of it is if you look back over the history over of the bottled water category itself, about a decade ago, as everyone started to consume bottled water, not necessarily carbonated bottled water,thrust a real raise on pricing. and this gives pepsi almost an insulated layer of use for the product. you know, they're selling a

cartridge and an appliance instead of just selling bottles of water so it's another line of business, whether or not it's one that totally agrees with pepsico's ongoing plans is another question but it's certainly another part of the total beverage portfolio. >> and the company that has seen some very strong growth especially lately. we'll leave the conversation there. thank you. bill chapel and jeffrey clineman we've got 12 minutes to go before the closing bell. dow is up 106. s&p up 0.3%. nasdaq has remained positive after starting day off negative. the russell 2000 is up at 0.4%. and is apple too ripe? closing bell will be right back. let's begin.

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kind of bullish. >> we've been trading up here for most of the day and we're still hang around. >> after another up week for dow and s&p. apple is cleaning up its app store in china china state tv saying the company removed 25,000 apps, some of which were illegal gambling apps. china's most important market outside the u.s. offers 1.8 million apps in total. apple didn't confirm how many apps it removed but said in a statement gambling apps are illegal and aren't allowed on the china app store. and we are vigilant in our efforts to find these and stop them from being on the app store. shares of apple, by the way, we've been monitoring them they're down about a percent >> this morning apple hitting an all-time high. of course it hit that trillion dollar mark a couple weeks ago

cnbc's josh lipton is here with a little more on apple and maybe some catalyst for the stock. >> mike, apple as you're mentioning here is ending the summer up on a high note it ended up 13% since it last reported earnings in july. and the company is up nearly 30% in 2018. for investors the next news should come next month when we expect tim cook to take the stage and introduce new models a larger 6.5 oled device and what they call a budget friendly 6.1 inch lcd phone in turn giving a lift to the top line in average selling prices but apple has its critics too.

today pierre feregu is looking for iphone revenues to actually decline 8% in 2019 no surprise after such a strong run valuation is also a concern by some skeptics and stock is trading at nearly 20 times earnings, well above its five-year average. guys, back to you. >> josh, when you're 20 times trailing earnings it's interesting because for a long time you've been able to say apple is one of the cheapest big dominant company in the market so maybe it's losing a little piece after this run >> i think it's interesting the valuation concern is one, and i thought pierre's comment is interesting, too, because he's making this comment about the apple franchise that the iphone

was so successful, the guys who think you should own apple it's interesting they're not looking for apple to explode next year but they are betting the iphobe franchise stays stable, and by stable they mean low to single digit growth and cook takes the stage, and we expect that to be pretty soon. >> into the announcements and also it goes on these streaks, it was up 13% in august. it would be the most natural thing in the world for it to fall back. up next we'll be back with the closing count down >> and then after the bell tennis superstar serena williams will join us in a n exclusive

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introducing e*trade personalized investments professionally managed portfolios customized to help meet your financial goals. you'll know what you're invested in and how it's performing. so you can spend more time floating about on your inflatable swan. [ding] welcome back to "the closing bell." at the white house where president trump has just granted an exclusive interview to reuters. some of those headlines just crossing the wire now. let me read a couple of them to you because they pertain to an

issue we've been talking about throughout the day according to reuters the president says he disagreewise the fed's decision to race interest rates, and quote he disagrees with jerome powell's decision to do so. the president was asked if he believes in the fed being independent, says he believes in the fed doing what's good for the country. also the president saying the fed should be more accommodating, says i should be given some help by the fed additionally some comments here on china, the president saying china is manipulating its currency, europeans are manipulating the euro as well, and the president continuing to talk about the fed saying he will criticize the fed if it continues to raise rates mike, a series of criticisms now towards the federal reserve. we saw reporting over the weekend the president had made similar comments in private and also we heard the president say similar things over the summer so the president rounding out

now his criticism of the fed in raising interest rates >> clearly the president declining an opportunity to walk back from those comments hard to know if that was the reason the markets lost a bit of altitude the s&p up 6 points to 2856. ringing the bell here. the second hour of "the closing bell" starts now sara gets it going welcome to "the closing bell." i am sara eisen in for kelly evans. here's how we're finishing up the day on wall street as mike said we are closing out with a gain of 89 points, off session highs. dow was up 120 at one point, up 0.3% s&p 500 up 0.25%

and the nasdaq still by far the biggest gainer for the year. russell 2000 small cap index up 0.3% as well coming up tennis star serena williams explains how she's looking to make a statement this year at the u.s. open with both her play and fashion sense don't miss our exclusive interview in just a few moments. let's talk about the market, though joining us today barbara and rob. let's get back to more breaking news and comments on the fed and currency market from president trump. >> reporter: and also talking about social media here, another headline from reuters in the exclusive interview they released with the president that took place this afternoon. the president saying he views it as very dangerous when companies like twitter and facebook

self-regulate their platforms. the president very obviously a hefty twitter user himself he says it's dangerous for those companies to be self-regulating on those platforms there was this controversy in the past a couple of weeks ago alex jones, with his conspiracy theories would be allowed on that platform. and the president siing he disagrees with the fed's decision to raise interest rates. asked if he believes the fed to being independent, the president saying he believes the fed doing what's good for the country. in talking to a lot of folks around here for the past several days about the president and his views of the fed, my sense is the president views this sort of deference, that recent presidents have had towards the fed as sort of an archaic norm that doesn't necessarily need to be in place. a lot of folks around here talk about the historic fights we've seen presidents have withfed

chiefs in the past, and say this president is one who's going to say what he feels, this is president who's very concerned about economic recovery and clearly based on these comments believes what the fed is doing is going to undermine the economic recovery he's worked over the past year or so to put in place >> yeah, also says china is manipulating its currency and europeans are manipulating it euro as well totally false. is he suggesting, we don't know the full context i guess from the headlines, that the federal government, congress should get more involved in regulating facebook and twitter >> well, that's exactly the question when you look at this comment from the president, it's very dangerous for them to self-regulate. will there be no restrictions whatsoever on those companies, or should?

other entity maybe the government as you raised be the one to regulate the content on those? those are very touchy questions that go into really the heart of some of our first amendment protections in this country, the heart of our politics in this country, so much of it taking place on social media. this is very tricky issue and the president has decided to weigh right in >> aemon, as you mentioned the president has made comments in this direction towards the fed a couple of times. the markets had that kind of reflex reaction wonder if it meant down the road a more hawkish policy or perhaps a new fed chair. it really didn't last. dollar is a bit lower, no doubt about it, but that's been the play book. what's fascinating, though, this president has done this in the -- i mean look at all the ways he's thrown shade at attorney general jeff segs and he's still in the job. so there's still not necessarily

any punch behind it. >> that's the question, is there presidential strategy here or just venting is this simply the president letting the world know what his opinion is letting the can chips fall where they may? talking to officials at the white house earlier today they referred back to his previous comments in which he said he'll let the fed do what he thinks is right. he said that in an interview with joe kernen even though he suggested he disagree with it. this is president who called himself a low interest rate guy, a president who people close to him say considers himself to be a weak dollar guy, not necessarily a strong dollar guy in terms of his approach to the world. and he has definite opinions how all of this should be rolled out, and the fed is not lining up all those opinions. and he likes to strike-out people he sees as getting in his

way. so this president clearly deciding he'd rather speak out than stay silent >> and he first spoke out on this issue with our very own joe kernen >> i have a very good man in the fed. i don't necessarily agree with it because he's raising interest rates. i must tell you, i don't i'm not thrilled because, you know, we go up and every time you go up they want to raise rates again. and i don't really -- i am not happy about it, but at the same time i'm letting them do what they feel is best. >> yeah, that's the comment there when he says -- that's the comment that white house officials are referring to when he says, i'm letting them do what they feel is best white house officials say, look, the president has a hands off

posture here he's voicing his opinion but not telling the fed what to do, merely offering some suggests. but implicit in the idea that you're letting them do what they think is right is the idea you could also not let them do what they think is right if you change your mind the president is asserting some authority there over the fed that he is in deference now allowing them to do it but might not allow them to do it in the future clearly this is an issue that concerns the president he's looking ahead to mid-terms and 2020, the reelection he wants to make sure voters are feeling it at that time. and i think that's part of where all this comes from, that the president has his eye on this bull market which is getting old now and he wants it to continue into the rest of his term. >> joining us barbara duran.

as a market strategist we've heard the president kplaun compla complain about the fed policy before >> if there's any market reaction at all it would be traders. but i think here trump is a little bit competitive with obama's record under obama you had the fed rate hike once, could be another five times. he is is up against an institution no matter who the chair is you know they respect the institution and independents nothing he can say can sway the fed. so i think we can rest assured they will do what they need to do >> is it this idea keeping fed independence as this kind of sacred thing, essentially always being deferential to the concept of it, even when in decades past it's not always been the case with regards to the white house. does this matter in the

continued view >> it's a great get by my colleagues no, i think it does matter you've seen around the world countries where central banks have been basically controlled by governments it's not good. look at argentina, look at brazil at a certain period of time i think what's really interesting here is we're talking about trump. actually we should be talking about j. powell. how is he going to responds to this i think from the get go in the oval office he knew this was going to happen. it didn't take a genius in some ways you look at the way donald trump blames lots of folks i anything that goes wrong, and certainly he's stake said his colors on the stock market and the economic mass, he doesn't speak that set of economic jargon. he says i don't know the answer

to this or that when he does congressional testimony. in many ways i think he's going to strengthen the credibility of the fed in the face of the kind of criticism he's almost certainly going to receive and is receiving now from donald trump, and we're still in a growing economy. so i think he's playing it really well. >> the fed is regulated by congress and the president has the power to appoint a fed chair. he could make changes if he wants. >> he could, but i think there will be apolitical support on this i think there's huge tradition and people understand the value of keeping the fed independence. >> to your point about j. powell and how he sets things up here, look i think the facts of look where we are, the next move is going to be pretty much evident. what happens into next year when

perhaps it's not so obvious, perhaps given the data of what's going on in the world is he going to tilt one way or the other based on some of the perceived pressure >> look, i mean he's preparing for this he's trying to say we're the federal reserve, we're human beings, we don't know all the answers. i don't think it's -- there are going to be moments when the data is going to be difficult. it's never that easy but i think by sort of taking it down a notch, and it's like that thing in game of thrones, oh, these are the wizards of finance. if you look at the way i mean janet yellin, ben bernanke, allen greenstroke spoke, i don't think anyone is going to turnl against him even if the president as you said is a low

interest rate guy doesn't like the fact that interest rates are going up in response to a rising economic condition >> how does the fed forecast factor, barbara, into your outlook on the u.s. economy? the president wants to see our economy doing better we just had 4.1% growth. is the fed raising rates, a potential red flag as the president suggests to that recovery >> it can be but not in this situation. it's a good thing the economy is so strong and doing it in a very measured pace and they are aware of where we come from and they're not about to do anything to derail us from what i see they still are fact dependent, if the economy slows they would ease off. but short of that i think the fed share is really concerned

about his currency than the president. >> we will hear from j. powell meanwhile tesla shares closing slightly higher despite jp morgan cutting on the stock. the firm says now it believes, quote, funding was not secured for a going private transaction. so what comes next for ceo elon musk tesla has found its way back to this 300 level where it's kind of toggled above and below for the better part of two years you have these corporate issues and potential short squeeze and investigation. where do you think this shakes out with regard to musk's leadership with tesla and relationship with wall street? >> it's kind of amazing if you read the report. he says based on fundamentals we're going to take it dourn to whatever, 195, then what were they thinking about the 420?

what was that based on okay, ha, ha, ha 420, i get it it almost seems that was beiged on some kind of marijuana joke this whole thing, it's so -- elon musk is an extraordinary man. we want people like that to succeed. the cars are amazing, the products are great, but it's a mess and there's no reigning him in by the board. it does seem increasingly like the best option here is for him to become some sort of chairman and to bring in a ceo. the question is who on earth would want to work for the guy so i don't see how this goes in anything but a continually erratic form >> that's a point that phil lebeau raised as well. even bringing in a number two, a coo, are you still not touching this stuff

>> i would not touch it years ago. one of the important lessons i learned, management is everything particularly in an entrepreneurial basically start-up company elon musk a trend s visionary has recently shown signs he may not be the right person to take it forward we heard this on earnings calls when legitimate analysts asked him tough questions he didn't want to answer so in a manner that was not reshr reassuring to potential investors. i think action is near >> mike, what do you think the stock is trading off of right now? is it the private deal, the sec investigation, the musk outburst >> the private deal i don't think fits into anyone's probability right now because there's to mean steps between now and then

after the tweet the stock traded up 370 so it really does trade along sentiment over how much can they produce, will the demand be there and any kind of governance or disclosure issues are not front and center it's hard to know if it's going to change. rob, musk got this company from an idea to $60 billion in market value in less than a decade. so i just wonder how much of a benefit of the dow his ford or core shareholders are going to give him at this point >> as you said you kind of have to give the guy a hand it's been an amazing story and it's not just a story. they produce automobiles that's an amazing piece of work this is not an internetd company that could come out of nowhere and go anywhere tomorrow i think certainly everybody

around him is giving elon a certain amount of leeway they would not give any other ceo but at a certain point they just can't feel confident and it's really like i said the erratic nature of his engagement whether it's on twitter, whether it's when he speaks to the press, whether it's being at the factory at 2:30 in the morning, which is how productive is that? i think he needs a life coach or sort of a lead independent to get him on track >> thank you very much up next on the show tennis star serena williams is teaming up with fashion designer virgil abloh for her u.s. open outfit we'll hear exclusively from both of them in just a moment plus netflix is testing ads

between its shows and possibly testinpaen wg ticeith its audience coming up on "closing bell." so we can fit them into our unlimited wireless plan. who's first? no. this isn't permanent, right? ask him. [terry squeals.] get unlimited data, live tv, and your choice of an extra on us. more for your thing. that's our thing. visit att.com

thanks, janet. it's welcomemy happy place. store. you can learn how to switch to xfinity mobile, a new wireless network that saves you cash. and you can get 5 lines of talk and text included with your internet. and over here i'm having my birthday party. dj fluffernutter, hit it! ♪ dj fluffernutter simple. easy. awesome. ask how to get $300 back when you sign up for xfinity mobile, and purchase a new samsung phone. visit your local xfinity store today. when tennis superstar serena williams hits the court in next

week's u.s. open in new york she will be donning a brand new nike outfit created by fashion designer virgil abloh. the queen collection including a collection for day and nighttime play arb a bag and of course limited sneakers joining me to talk about the collection and the upcoming tournament serena williams and virgil abloh thank you for joining us >> thank you good to be here. >> so serena, i wanted to ask you you've been a long time nike athlete. you even a building at the corporate campus in your name. what makes this collaboration with virgil different from what you've done with nike in the past >> yeah, i've been working with nike for, gosh, over 14 years. and it's just been a brand that has really been able to support my career and be able back me and also make me look good on the court as well. so this year they had this amazing idea to partner with virgil and i can't even say i came up

with it. but they did it with nike and they said this is going to be great and i said let's go for it and we made magic -- well, he made magic i should say. and it work out. >> virgil, why serena and how did this come together in your perspective? >> for me it was a no-brainer. my interest in fashion isn't sort of about clothing, it's about people and i think she's beyond, you know, an amazing athlete she's a muse for a generation. so the clothes in a way design themselves i was happy to have the support of nike and the support of serena herself to come up with this concept and debut it for the u.s. open. >> serena, i cover all the brands, nike, adeedas, under armor, puma, what do you think about the balance of what's

going to sell well in the athleisure market? >> i think in athleisure it's important to create something that'swearable and for consumers to not only be able to wear with what they're doing when they're working out or hanging out at their office or other various places i think it's really important to be able to have that cross brand. i feel like nike does an unbelievable job with that to having their fabrics be breathable and incredibly functional and useable and i said i just wanted to look good, and they said we can do that and we can make you look good and feel good at the same time >> virgil, i wanted to ask you about your collaboration with nike what's your vision for this, how much bigger do you want to see it get >> well, it's kind of picking off from what serena said, it's

like work out clothes, the idea of gym shoes obviously in our culture have expanded to lifestyle. so me as a designer with the support of nike i just kind of want to push that needle forward to see the brand seamlessly transition between on the court, off the court. and i think we are alive at an amazing time when the public is open to these ideas. so pushing fashion outside the boundaries of the paris runways or the new york fashion week runways onto a tennis center like this or at your local grocery store all day long, like being comfortable while sort of like being in a style of the times is my goal as a fashion designer >> got to ask you, virgil, about kanye west is also doing this in the athleisure space, a competitor adidas.

would you ever collaborate on footwear even though you're director competitors >> it's funny that you mention that i think competitors on courts e behind us. us as designers, we're all designing the world at one time. i think in the design space it's about the best creativity. and kanye and i we've been best friends, we'll be best friends until the end of time. we're both excited to have platforms to create and, yeah, we support creatives competing >> creative competing. serena, i don't know how virgil manages it all between louis vuitton and off-white. and i'm just wondering how you approach collaborations like

this with nike and you're about to compete in the u.s. open and how it's all different since mother hood. >> it's different. the last time i was in new york i didn't have a kid and i was living my best life. and now i'm here and i'm with nike again and virgil. and there's literally amazing collaboration and i'm living a better life, you know? so for me it's really awesome in having my daughter around for basically everything i mean she's super young right now, but it's still really awesome to just have her here and create new memories. i've created tons and tons of memories for decades literally here in new york, it and now i'm looking forward to creating new ones >> yeah, hopefully the clean tutu comes in her size thank you so much for joining me >> thank you >> good luck, serena >> thank you and if you think this is not an investor issue you would be wrong. because virgil abloh, designer,

chief creative at louis vuitton, partnership at nike, has been instrumental i would argue in looking at the chart and a lot of the analysts have picked this up a as well, in turning around nike. this is where we have a chart of when he sort of joined nike. they had this ten collaboration where they deconstructed ten of nike's classic shoes, jordan shoes. there's been a halo effect around the brand i'm not saying it's all attributable to him. i'm just saying it's a very interesting observation. and it's similar to what adidas saw with kanye west, when they signed him up and the shoes sold out instantly and are very hard to get back in 2015. >> so do these fashion gurus say now is the time to freshen up these fwrands or do the company say now it's time for something different? >> i think the companies strike a lot of partnerships with the

act letes and entertainers and some of them have really smart senses what they want. >> i think it's great about the balance between kind of athletic purchase in a brand and fashion content. it seems to me with nike it's much more relevant because it's so core to their being than maybe adidas >> nike stays trues to its athletes and it has all the biggest ones in the world and it would tout its performance and who knew you could play tennis in a tutu >> there you go. we'll see it probably in a week in queens. >> meantime we have some breaking news on trade >> mike, some more headlines coming out of that reuters interview they conducted with president trump, this time on trade. where the president told reuters that he does not anticipate much coming out of china talks this week in washington and that he has no time frame for ending the trade dispute with china

of course those comments are against the backdrop of a new delegation of vice ministers from china that will be in washington this week negotiating with treasury under the secretary about the trade tensions that have been bubbling over for the last several months there was an expectation that the meeting between president trump and president xi that would take place at apec and the g-20 meetings was sort of a loose deadline to work out these tensions but the president says there's no time frame for ending the china trade dispute and he doesn't anticipate much coming out of this weeks negotiation. >> do you think that will come as a surprise to people, whether investors in the market or people you talk to on capitol hill that have hopes for this negotiation? >> i think there's hope that a meeting is taking place at all you've heard white house officials say talking is better than not talking we heard larry kudlow say that

last week and so there is something to be said for the channel to be opened, for the communication channels to be warmed up again. but i will say there has been some pessimism about the fact that previous negotiations on behalf of some cabinet members were not able to produce a deal just months earlier, and the tensions have only gotten more intense in the intervening months they haven't gotten any cooler so i know that there is a lot of people in the business community that are going to hold their judgment on these talks until we see exactly what happens because once spurred, twice shy is something that we've learned from these talks >> all that being the case and the president saying there's no realtime frame here, i suppose we can't conclude there's a kind of de facto cease-fire as it goes on with these talks >> mike you ever the slated hearings happening in washington as we speak where stakeholders

are talking to the u.s. trade representative about the impact of 25% tariffs on $200 billion in chinese goods so that's happening. so they're still moving forward with the process on that then you have the consideration of the $16 billion traurch of tariffs which the administration previously said would go into effect on midnight august 23rd so barring another announcement those are being shelfed there's an expectation those will go into place we do have an expectation calendar people are watching but without the collaboration between these two parties it's hard to see the tensions going down it's not just tech leading the charge there bertha coombs with the details >> the buying sector has also

outperformed the large cap nyc index up nearly twice that since 2009 and the best gainer by far jazz pharma up nearly 30,000% since 2009 those have been the leaders, insight, all gained about 3,000 plus over the last nine years. well parkinson's drugmaker arcadia has gained about 6.5%. drug pricing worries, and acadia has been hit by reports of drug side effects despite these drug pricing head winds from the administration, though, exciting drugs in the pipeline could make work for continued bio tech momentum. but, guys, strap in.

>> let's take a look how we finished the day on wall street. we did have a nice gain on the dow most of the day, did pull back towards the close ended up 89 points, and the s&p up about 0.25% and the nasdaq pulled into positive territory just barely and the russell 2000 was the slight outperformer by about.3%. >> here's what's happening at this hour, everyone. president trump moments ago holding a ceremony at the white house to honor members of immigration and customs enforcement as well as customs and border protection. the president saying in order to be a strong country the u.s. needs strong borders rescue efforts continuing in india today as flooding hits that country's southern state. more than 800,000 people have been displaced, 350 people killed in those floods

here at home traffic stopped yesterday morning on the bay bridge in san francisco as three drivers, take a look at that, put on a show performing doughnuts. one driver was arrested, several others were cited for violations and traffic was backed up for miles. and listen to this, two beer truck drivers in minnesota are now credited with saving a man's life they were driving across a bridge when they saw a man on the other side of the fence about to jump. so they stopped, they talked to him and eventually they offered him a beer they asked him to have a beer with them, at which point the man came down from the ledge they weren't even supposed to be on that bridge the driver made a wrong turn and it's lucky that he did that is the news update this hour, guys i will send it back downtown to you. >> amazing guess he decided there was something to live for. sue, thank you very much apple, meanwhile briefly hitting an all-time high earlier

today. ll ung up fast money traders tes whether they're starting to get concerned a little bit about apple's valuation. u clien? well jd power did just rank them highest in investor satisfaction with full service brokerage firms...again. and online equity trades are only $4.95... i mean you can't have low cost and be full service. it's impossible. it's like having your cake and eating it too. ask your broker if they offer award-winning full service and low costs. how am i going to explain this? if you don't like their answer, ask again at schwab. schwab, a modern approach to wealth management.

broke my personal record. aflac!? no-good break. gooood break. i'm so sorry we can't make your barbecue. i'm just sick about it. aflac!? different kind of sick. if i can't work after surgery, how am i gonna pay my rent? all these bills? aflac! oh, aflac! and they pay you cash in just one day. see how aflac helps cover everyday expenses at aflac.com. stocks higher today pushing the s&p 500 closer to a new high let's get to some of the other big stories from our rapid recap. >> u.s. equity features this morning are higher this comes after a big week last week at least for the dow and

s&p. >> pepsi buying sodystream for $144 a share >> this deal came together in a matter of weeks. the intention is for sodastream to remain independent. >> musk replied yesterday tweeting ford and tesla are the only two american car companies to avoid bankruptcy. you think this is an option, it is not >> when you're a public company ceo you're always going to have people who believe in what you're trying to accomplish and others who don't and they should be entitled to express their negative viewpoint through short selling. >> president nicholas maduro devalued the nation's currency by 9%, and also promised to hike wages by nearly 6,000% >> raising both their ratings on

nike to buy on overweight increasing the price target. >> according to reuters he disagrees and quote, not thrilled >> that was some late breaking news there aemon javers reporting on it priz's comments against the fed. he also said in that interview that china and europe are manipulating their currency. that's a question i've looked into mike and have been reporting on for a while if you talk to currency traders and strategists they will tell you, no, no, that's what china is doing china is managing to have money rush out of its economy and putting pressure on its currency it's not trying to get an edge in intrathe trade war. our own treasury has not labeled them a currency manipulator and europe hasn't intervened in the market for years >> just more belligerence on the kind of economic front as well

>> and the question is does he move to do something about it or he does he pile on pressure more and more apple shares did hit a high this morning before pulling back amid removing 25,000 illegal gambling apps from its china app store. >> let's bring in our fast money traders. tim, what are you doing with apple right now after the tremendous run up it had most a million dollars. and china is always risky right now given these trade tensions with the u.s. >> this is apple and not the first time they've kowtowed with the chinese government they've had different places where they've been at odds and it seems they've followed through. if you think it's a consumer company i think the valuation is actually very fair, the fact they're giving you $50 billion a year in free cash flow and the

fact they're showing you they're giving it back to invest, but depending on what kind of company this is i think apple actually looks a lot more offensive than some of the other big names. >> this stock goes on these streaks relatively frequently and you have to wonder just positioning wise when people own enough and when's the next downdraft which you've seen a couple of times when it stock moves precipitously to the down side a trillion dollars to me, and we've talked about it it's not a finish line but sort of a mile marker and it hasn't stopped. to tim's point you could say, all right, 20 times trailing close, what's the right valuation? as they move more towards a services business -- >> at $50 billion a year >> so you ask yourself the question what's the multiple you're talking about an 18 multiple and a $241 stock, which

i don't think is unreasonable. there's a lot of reason to be scared of apple, i guess, but i don't think valuation in my opinion is one of them >> all right, guys thank you for your take. we'll see you at the top of the hour coming up on fast money, one strop strategist will reveal why you shouldn't give up on tech just yet more headlines from president trump's interview with reuters now. eamon at the white house >> reporter: that's right. reuters posting a couple more headlines here from their interview with the president this afternoon a whip around here from the fed at home to turkey overseas let me give you a couple of headlines they're just moving on the wires now. saying that the president said there will be no concessions with turkey over that detained american pastor that's been the flash point of so much controversy between the two countries. and the president also said according to reuters he's not concerned about the economic

damage to europe with u.s. tariffs against turkey and the president also saying he thought he had a deal with erdogan of turkey, the leader there to gain the freedom of that pastor. apparently, he did not and finally the president saying in terms of iran, if iran's rouhani wants to meet with him, fine but, quote, if not i could not care less. the president saying that about the iranian leader that coming just as "the new york times" has a headline up saying that iran says the president sought a meeting with the president eight times the last year. so a dispute there who exactly wants a meeting between the president of the united states and the president of iran. from those headlines at "the new york times" and reuters moving aswe speak here. and one final note, saying that trump says he would consider lifting u.s. sanctions on russia if mouse cuwere to take steps to work with the united states on issues like syria and the

ukraine. the president signaling there he's open to if he gets some help from moskow to lifting those sanctions. a key objective for vladimir putin to get those sanctions lifted, guys >> to wrap it all together it seem like a lot of relatively combative comments whether it be about the fed trade, iran, sort of digging in on a series of issues here in this interview. >> yeah, that's right. but signaling he's open to a meeting with iranians and i think that's fascinating we've seen the president do this now with the president in helsinki, with kim jong-un in north korea. the president willing to meet with those traditionally in the u.s. adversary box we'll wait for more confirmation from the white house exactly what the president's intentions are there. but you can see those conversations setting up a big international set piece the way we've seen twice already this year

>> you know what all the adversaries have in common really weak currencies right now. that's the economic pressure >> where in the world do they have a strong currency >> the united states a remarkably i'm going to say high percentage of millennials are sharing their passwords for streaming services company like netflix, amazon and hbo may be missing out on millions of dollars as a result. details later on "closing bell." ♪ ♪ i don't care where we go ♪ and i don't care what we do ♪ just take me with you there are roadside attractions. and then there's our world-famous on-road attraction. the 2018 glc. lease the glc300 for just $459 a month

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tripadvisor. visit tripadvisor.com netflix changing the way it does business on the same day they get costly news about account sharing. >> netflix is testing promos that are skippable the company tells us it's running promos between episodes as one of hundreds of tests the company does every year. >> we're testing whether surfacing recommendations between episodes helps consumers discover stories they will like

another headache, subscribers sharing accounts an estimated 35% of millennials have access through sharing passwords. perhaps the biggest issue is the fact that younger users could get used to accessing the services for free. never mind the hundreds of millions of dollars of potential revenue that could be lost reid hastings previously said network sharing wasn't a problem. guys, back over to you >> it's interesting, i can recall part of the case for netflix was, if they ever decided to crack down on password sharing, maybe they could add some price increases on top of it, and the existing user base could get them more revenue.

>> i think this becomes a big question when it comes to the next set of millennials. when they grow up, will they be willing to pay for their own account or will they think of netflix as something they should get for free one out of every four people should have to pay for the question is whether it devalues the concept of the service. it seems like netflix will figure out a way to tap into that next generation >> what is it about millennials that leads to password stealing. >> hertz just announced a c-street change.

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we have a news alert on hertz. >> hertz announcing a new cfo. he's going to be replaced on september 10th by jamir jackson. in july, the company got a new chief information officer. a lot of changes for hertz lately >> meg, thank you. >> up next, nykae west responding to our interview with serena williams. starts in outer space. where satellites feed infrared images of his land into a system built with ai. he uses watson to analyze his data with millions of weather forecasts from the cloud, and iot sensors down here, for precise monitoring of irrigation. it's a smart way to help increase yields, all before the rest of us get out of bed.

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kanye likes charts especially ones on closing bell. we showed you the halo effect for the adidas turn around kanye retweeted it >> just ratifying your thesis that -- >> it's an observation i've made he's got big competition with his closest friend and former pro protoge. there's been a halo around that brand as well.

>> my month file is in that still. >> were you? >> yeah. in the screen shots. >> this is going to go nuts. >> i didn't realize. >> it's all about you. >> never about me. >> nike has been a big performer on the dow >> that does it nor the closing bell, fast money begins right now. it sure does fast money starts right now. we're overlooking new york's time square. our traders on the desk, tim seymour, brian kelly, kbrin grasso, guy adom my. >> it looks like wall street is turning its back on tesla. what is behind that move, we have all those details many plus it is the greatest bull market ever, this week, making it the longest run in history do you keep betting on the stocks that got us h