it's a very big to me business risk because it's such an inflammatory area. >> so sources close to the situation -- >> i was going to talk about be benzos there, but you're going to talk about my birthday. >> thank you for spending it with us. >> i am happy to say i am one year away from medicare. thanks for watching "power lunch. "closing bell" starts now. it's time for "closing bell." amazon hitting a $1 trillion market cap will that drive markets creating a september to remember? i'm seema mody at cnbc headquarters tropical storm gordon set to make landfall in the gulf coast. we'll go straight to mississippi to look at the impact on the region and big oil new details just coming out on what facebook and twitter will say tomorrow on capitol hill

i'll have the latest coming mup. and i'm saraizen in for kelly evans. colin kaepernick in a new ad what does it mean for nike's new stock and the overall brand? we'll take a closer look "the closing bell" starts right now. good afternoon and welcome to the "closing bell." we'll get to all those stories in just a moment and we've had a good run of sara eisen stories recently i'm looking forward to this one again. >> whenever there's a top story -- >> i look forward to push aon those few ideas, questions >> good, bring it on >> let's check in on the markets. we're well-off the session lows but we have been lower all day the s&p is down just about

0.03%. andway s&p and nasdaq are down for the selkd time in three days let's starts off with amazon hitting a $1 trillion in market cap value. let's get to bertha coombs at the nasdaq >> amazon topped 2,000 shares today putting it in the market cap of $1 trillion as we take a look not quite at that giga cap valuation today at least. amazon has been the hands down winner when it comes to competition between these two. its sale in the last five years have grown, and when you look at the sales and actual profit figures they're nowhere near

apples apples to apples in this case. take a look at net profit, apple earned nearly seven times as much as amazon, $41 billion to amazon $6 billion. it's really apples and oranges as well when you look at the valuation on these stocks. apple has a forward price earnings ratio of 19 amazon's nearly 120. so they're both bucking the trend today in the in the same neighborhood, but boy, two very different companies. >> so what's amazon's next stock? let's bring in jason and max and jason is an owner of amazon shares long way from less than $500 million back in 1997 when this company went publicly.

>> there's a huge number admittedly relative to their market opportunities in the various businesses that they're in, global ecommerce, global cloud. currently their business represents if you look at it on the revenue basis, about 10% or less on each one of those secular growth businesses. global ecommerce is about a $2.8 trillion business as bertha said they're doing about $200 billion in revenues it's a small portion that's growing quickly. yeah, i think amazon can continue to grow and i think investors can still get in if you have a long-term perspective. >> max, i guess it's not just the fact it's hit that arbitrary number of $1 trillion but the pace over the last 12 months, more than doubling over the last year i mean is the pace of late too

fast is it a moment of pause and take some profits >> look, you're never badly positioned to take a bit of a breathing and pay attention. so amazon has participated in a market wide melt up particularly led by growth names. that being said amazon is much more worthy of this melt up than a lot of the names that have taken the ride with them this is not one of the more expensive names out there on a sales basis. obviously the p/e ratio at 150 plus is pretty aggressive but it always was because only recently have we seen amazon pivot to the story of having reasonable earnings still like the company, still has a lot of room for growth nationally there's a lot of disruption and a lot of cream for them to skim off the top as they do the usual and compress margins industrywide >> we have seen the amazon effect play out in the market

every time they do get into a new business, and there may be more acquisitions to come. everybody in the space melts down and then everybody sort of has a rational reaction, amazon takes some time, and the other companies like a kroger fight back with the business what is the amazon effect on competitors in a space like groceries or pharma? >> it's a great question we should always remember that wall street prices and attitudes can spin on a dime but market interpretations take years we massively overshoot the sort of time frame in which amazon will engage a space. part of why amazon has been as successful as they are they're slow and strategic, they'll test the space for a while, they'll announce it and then they'll either do something or back burner it for years. i remember having these conversations by way of cautionary antidote what it meant for netflix when amazon

prime video came out fast forward a few years and nothing has been done on amazon prime video to dent the netflix story at all >> how much credit does bazos get? is he the greatest leader out there at the moment? >> he's assembled a team around him that has been no short of miraculous in terms of transitioning from a book seller in 1996, '97 that wasn't making any money to one of the largest disruption engines we can think of to be sure if you look across the markets they're trying to get into the markets, they're currently dominating the opportunity for this company is truly remarkable. they've continued to execute -- this is large cap company with really startup dna and jeff bazos can be very much credited to making sure that culture remains that way in ensuring the short-termism that

is rampant on wall street. and we continue to applaud him on that. >> i guess with great size and great power comes great scrutiny and we're seeing it on both sides now on amazon and jeff bazos. and president trump even mentioning the word anti-trust issues and you have the whole post office thing. is this a real threat for amazon's business going forward, just the fact it is such a political cross hairs and polarized environment right snow. >> we think they probably survive. if you look at the history of retail, these companies sometimes can get bigger in the world's perception of them than they get in their own perception and they try to keep their head down and keep doing what they're doing. when you're as big as a wal-mart or amazon, you can't do that you have to keep some attention

to our public image. that being being said either they disqualify their own interests or voices from the woods that take on traditional retailers. and amazon has built on for them a coalition of sophisticated foengs in retail and politics who are not fans but thus far that has only been a minor road bump. we don't anticipate it being bigger in the near future. it could become bigger if we start to see any pull back associated with these private utterances from public figures >> yeah, the public loves low prices until you don't have a problem there. >> thank you very much for joining us $1 trillion market cap second company to join the very exclusive club. >> in the u.s.

>> apple from china was there. >> yeah, briefly touched it. markets more broadly, let's have a look, well-off their lows but they are still lower the low of the day was 160 points or so it's essentially flat at the moment joining our closing bell exchange today victoria fernandez, and our own rick santelli at the cme incheck as always matt, i'll start with you. the broader markets coming off their lows today and in general the broader economy justifies the highs we've seen recently. >> yeah, the economic data has been good. the question is can it continue based on what we're seeing out of china, and was all this built-up in expectations of a trade war? but i certainly think this market is built on momentum right now. we were worried about six stocks trading us to highs for so long.

sow nou it now it's two or three names, apple and amazon, for example. oil was a perfect example of the momentum topped out, went back to 80, now it's back over 70 again. so if you're a trader in this market you reel want to trade this momentum that's out there >> let's talk about the tech momentum that's there. victoria, we mentioned apple and amazon a lot, but google and amazon are not far behind. it's worked for so many years of the bull run still the case in. >> it really has and long-term tech is the place you have to be but i don't think you have to chase some of these larger names. we're also looking at other names within the tech sector recently be bought palo alto and some other names

it's definitely a good long-term play to have the sector within your port fofolio. >> if we look at august's performance the u.s. is really a stand out when you look at equity performance compare today the rest of the world. is that justified, do you think? >> oh, absolutely. that number this morning was only 0.2% away from being the best number in five years. it was the best number in 14 years. when you have a stand out is most analysteris are going to recommend invests outside the u.s. why because the numbers show more promise because they're not doing as well. it's a form of logic i've never understood it's largely applied to larger markets in a big way chances are if they get back in mean revert, you're going to

make a lot of money. that dynamic can have a bit of danger attached to it. to me the u.s. outside of the trade issues matt brought up really is looking very favorable. the dollar index, wilf, if you just ignore august because for volatility like emerging markets, we would be at the highest level. i mean the dollar index really is holding exactly where it needs to and rallying off of good support i think everything is still pretty much all green. >> and to that point the atlanta fed put out its latest gdp plodal for the fourth quarter. 4.7% that's a strong number is that factored in? >> the number was impressive, over 4%, now we're talking over 4.7. so it definitely shows the u.s. economy is leading, and that's what the market wanted to see. where can you put your money

safely and where can you invest it, it's the u.s. >> what about domestic politics? do you think we take a pause in terms of this momentum as we approach the mid-terms >> you know, traditionally the quarters leading up to the mid-term elections are down quarters we haven't seen that this year at all we would normally have a really strong fourth quarter. so maybe we take a pause a little bit, i think we'll really be driven by headlines especially this week we have the hearings over, talks with canada starting again tomorrow. they're definitely going to take center stage as far as the headlines go the fundamentals that are driving this market are strong i think we'll continue to do well the rest of the year. >> okay, guys, we will leave it there. thank you very much to victoria, matt and rick. september has been a historically rough month for the

market, but a big bullish call on u.s. stocks for 2019 as well. the strategist behind that call joins us to break it down. and up next shares of nike wearing on the dow today as the company takes a political turn with its campaign. we'll discuss what it means for the stock, tug ithhoh,n e long-term. we'll be back with "the closing bell" with the dow down about 10 points ♪ a hotel can make or break a trip. and at expedia, we don't think you should be rushed into booking one. that's why we created expedia's add-on advantage. now after booking your flight, you unlock discounts on select hotels right until the day you leave. ♪ add-on advantage. discounted hotel rates when you add on to your trip. only when you book with expedia.

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nike just put itself at the center of the culture wars as the nfl season is about to kick off, controversial quarterback colin kaepernick joined nike's 30th anniversary campaign of just do it his face appearing on some west coast bill boards and across social media sources say that nike doesn't plan on having colin kaepernick's signature shoes as some have been reporting, but we could see product extensions we saw it hits the stock it is the worst performer in the dow right now. but will this really impact nike's business? after speaking to folks at nike

i can tell you the refresh of the just do it campaign squarely aimed at millennials nike trying to communicate what they think is an inspirational message to a generation. that's why colin kaepernick n story of this, but he's not the only face. a liner backer who's also an amputee is featured. but clearly though kaepernick became the story two thirds of nike wearers total are under the age of 34 years. 45% are under 25 years old and then there's the proof that kaepernick and his message had been marketable. last may when the nfl controversy was flaring despite the fact kaepernick wasn't and still is not on any nfl team his jersey was still in the top 20 sales, that's according to nfl.com. that was ahead of cam newton and

other other players. kaepernick is the face of the protest that the president has railed against, he's in a suit with the nfl owners and there's plenty of people all over social media showing images of burning up their socks and their shoes and that's clearly having an impact on sentiment, at least for today around the stock >> a lot of people also criticizing the word sacrifice on both sides by kaepernick and nike given those statistics by nike if it's expected to boost their sales, is it a sacrifice, and if kaepernick has been paid handsomely, which we don't, is that a bit rich to use the word sacrifice? but also why do people choose nike or under armor or lululemon or adidas? is it a political statement or their favorite sports star is seen in those clothes?

and tennis going on and we're not focusing on that >> i would also add to that, the athletes, yes, play a critical role and other is the cool factor and nike is firing on both cylinders when it comes to that. when you look at the biggest nike athlete sponsors are, lebron james -- they have all come out and support kaepernick and a lot of their fans have as well so longer-term maybe this was the right move and speaking to this generation as they have in the past i was curious to talk to you because you and i have gone back and forth over dick sporting goods, when they announced the change to firearm policy and there was a whole move around boycotting did that really impact sale and do you think nike has a lot to

worry about here in. >> i think it has impacted their sales. and you know i love nike brands and strong bands in general. but i don't like a lot of things that put a lot of risk and uncertainty in a product so you see what the market is doing. long-term this may be the best thing nike has ever done i am unconvinced that necessarily is going to be true. when i look at it short-term it may be the best thing they've ever done to champion for lululemon and adidas and other people to compete with them. because they're a very broad business they have a very wide spectrum who wearathi who wears the product. oats not like there's this very small focus niched product >> what do you think about the risk-reward strategy for nike. are they taking potentially the former for potentially a bit of

the latter >> we cannot overlook the fact there's two big news stories today. one was amazon hitting a trillion dollars and the other is this. now we have a whole conversation and we've spoken about things along these lines in the past, but for today they are a product company and a marketing company. and how many other marketing agencies have this many impressions on a day where amazon hits a trillion dollars i was going to say the long-term risk remain tuesday be seen, but it's not the first time we've seen nike take a risk. >> are you trying to make the point they've gotten so much about the brand exposure by the fact we're all talking about it on the airway snz. >> yes, i think one of their biggest competitive advantages has been their marketing budget in how many places they can touch, how many articles they can be in. we've spoken in the past about how i've seen a lot of parallels between nike and amazon. and ear's the othhere's the othy

put something out and we do their work for them. the long-term impact, and i'll guarantee you there'll be another controversy we're talking about a year from now, but right now we're talking about them >> how young the buyer base, the user base surprised me clearly sports products tends to be more skewed towards younger people than older people but nike has been around for a long time. this is the 30th year anniversary of the just do it campaign are there going to be a lot of older buyers potentially going to be turned off by this >> i bought my first pair in 1975 called the waffle trainer there's a lot of people of all ages that bought a nike product and wear nike shoes. so if you do a great job with that millennial customer and they go gee that's great

if it turns off another part of the customer base, it won't be so good. i agree with everything simeon just said. i look at this myself and say couldn't they have spent this money someplace else better and had less controversy and backlash well, maybe they're looking for that maybe they do think any news is good news. but i think this is really a risky move, and i'm surprised they made it given the fact they've brought the brand back it's done so well in the stock market we've all been so positive on it, and now we have this new risk to worry about. >> final word to you, simeon everybody's talking about the risk and the boycotts, but any way this will eventually help nike maintain its cool factor and the fact it is speaking to a younger generation and it's being real and not afraid to wade into the culture wars will actually help the stock and the business >> is there any way, of course, and the reality is they've done very well by hitting the counter culture and going against the

grain. looking forward the reality -- listen, it remains to be seen is probably the right answer. but the notion this is blanket negative i think is probably a wrong one. we'll be back on a year from now talking about a different controversy about nike besides today. so i think that's what keeps them ahead of the game and relevant >> this is big one this really is a bold move and we will see. thank you both for weighing in >> thank you after the break, as amazon hits $1 trillion in market cap we thought we'd bring on a man who has some experience with the company's products >> this new amazon fire tv listens to me and does exactly what i say gary busy. >> actor gary busy joins us live here at post nine to talk to us.

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on the day that amazon cracks the $1 trillion market cap level we wanted to reach out to one of the company's most famous spokesman he's acted in over 160 films and has a new book out today called busyisms which is of course

available on amazon. now on the set we welcome gary busy >> i've never been in this place before i've seen it a lot on the news and everything where people are going crazy. it's very, very nice >> well, the news today is that amazon as a stock hit a trillion dollars in market cap. >> it's great. i love amazon. i did a commercial for them about the thing you stick in the television to get streaming from everywhere and i could talk to my parents, talk to lamps. amazon gave me the ability to do things that hulemans usually do. >> that was your ad for amazon when we consider the likes of amazon and netflix and hulu, do you think it's a golden age for content creators like yourself >> a golden age, no. i think it's a new age i think it's new age with a new beginning, and it's just

beautiful. it happens at the right time at the right place, and i'm so happy it's happening >> let's talk about the book, gary why now with this? because you've always been very open whether it's interviews or social media with your views you pulled it all together why now? >> well, it was it right time. everything i've been through, drug adikddiction, all the peop i've played music with in my movies, the down time, the up time, the near death, the trip to the other side of realm, and it's a motivational book i wrote to me and maybe inspire others who may be going through similar things that i went through in a negative way >> very open on a lot of topics. as you know we're a business show, so i want to ask you about your backgrounds was the mistake jow learned and

the lesson from it >> spending too much money on drugs and that's the truth i wrote checks and they bounced, bounced, bounced but i didn't care if i could get the drugs. and truth, t-r-u-t-h stands for taking truth to heart. >> what's your single most important busyism in this book >> well, they're all important because they all came from above. i love the busyism nuts, and that stands for never underestimate the spirit and the word faith, f-a-i-t-h, fantastic adventures in trusting

him. >> i lad bad, baloney and dirt >> about our favorite films i mentioned in the break how much i loved "under siege" and "entourage." what's next for you? >> entourage >> you did a cameo, right? >> i had a 105 degree temperature and they said gary we need you, and we went down and did the scene. >> it's been so much fun, and thank you for joining us today >> i think joining you was a blessing for me. coming here and talking to you guys and you guys talking to me is a blessing in my heart that will never go away, it will never leave me and filled with love, understanding and giving thank you so much for allowing me to be here. >> our pleasure, gary.

>> maybe you could do a stock busyism. >> a what? >> a money one for your time here >> what do you mean. >> a busyism >> for what? >> for money or stocks for amazon >> gary, thank you very much for joining us it's time now for a cnbc news update here's what's happening at this hour, a judge denying congressman duncan hunter's request to waive his next court appearance in california he and his wife were indicted for misusing over $250,000 in campaign funds the couple appeared before a u.s. district court judge in san diego today. massachusetts governor charlie baker voting in the state's republican primary he is facing a primary challenge from conservative scott lively lively calling baker a rhino, which means republican in name only and he says that he is 100% behind president trump iranian president hassan

rouhani says his country will continue exporting crude oil despite his country's effort to stop it through sanctions. he reignited three petrol products and a peril of dorothy slippers from the "wizard of oz" are heading on their way home. the shoes which were stolen around 13 years ago have indeed been recovered so i guess you can say there is no place like home that's the new update this hour. coming up next here on "the closing bell," the consulting firm says there's already one future technology disrupting the workplace and companies need to make big changes to keep up. the ceo joins us after the break.

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gary busy still signing autographs here on it floor.

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global professional services company censure taking a deep dive into intelligence and its impact on the workplace. while 67% of employees want ai skills only 3% of executives are investing in ai training why the gap? joining us is the chairman and ceo. nice to see you. >> good afternoon. >> in paris with a little bit of a delay there. so in general when we think of ai, is it a long-term threat or opportunity for jobs >> i mean i think it's a

long-term opportunity, no doubt. accenture, we have in deed been impacted by job intelligence but it's not going to impact overnight. as you know we have already rescaled 250,000 of our people over these last three years investing $900 million >> pierre, when we do see the impact from ai do you think it's going to overwhelm or underwelm? >> it's more the impact of the digital technologies on the business to consumer business. now we're starting a new wave, we're calling it accenture

industry and this is the big wave where indeed artificial intelligence will play a big role and thinking about the impact on the automotive industry we all know what's going to happen with the automotive cars, but i can talk about what's going to happen with the life science >> health care obviously seen as a big opportunity. i'm just secureious why you guys are only finding only 3% of executives are investing in ai training when it's going to be such a big force >> it is very disappointing to be honest, this result because what we see on one hand the young people, the student and the workers, they really want to be trained and be skilled. so they're not afraid by artificial intelligence. that the executive and maybe the companies are not prepared to invest more in training and rescaling, but i hope this is something they're going to start very soon because they have to

>> pierre if you look at the various developed nation economies, which are best prepared for this wave that you say is coming and which is worst prepared >> when you look at probably some countries are quite well prepared all the countries are putting their act together in a different way. when i'm visiting the many countries around the world, all the government they have a digital play and a digital strategy germany is well prepared all the manufacturer industries are putting their act together in a meaningful way. france as well is making some good steps, but more to do the u.s. as well is quite good but with the size of the u.s., you need to invest more. the government and the companies but really the companies to invest massively in their people >> okay, pierre, we will leave it there

thank you very much for joining us credit suisse releasing its bank outlook for the year. a more than 15% upside from its current level. joining us now to discuss what could push the index to that level, good afternoon to you, john and great for joining us. have you got abusyism for the market no, i'm joking fairly significant upside for the year, and running through late next year a lot of people would have expected the market to have topped out by then >> yeah, i think the underlying story here is that the run we've had in the market all year, right now we're up a little shy of 8.5%. the ad give dnds in we're about 10% year to date if you look at what the story was in 2018 it looks like we

were going to have something like 21% earnings growth, which is just massive and multiple contracted and next year what you're looking is that earnings are going to be in line with long-term history, 7% to 8%. but then i think you're going to get some of the multiple contraction you had at the beginning of the year. >> i'm having a bit of deja vu, because i think you came out one of the bullish investors on wall street this year didn't quite get there >> one of the things in difference being a strategist as opposed to a trader as you're moving towards the end of the year and also when your calls is kind of in line where you hoped it would be, we're almost in smack in line with that 3,000 target would be for this year, you want to move the goal posts further away and get people to think longer-term otherwise people are going to think if

you're a penny ahead or penny below. >> that's why you're starting in september. >> yeah, people typically do it in earlier in the year >> august, generally the out-performance of the u.s. versus the rest of the world both developed and emerging has been stark as you continue your bullish move for the u.s., do you expect the rest of the world to play in that bullishness or do you think this is going to continue? >> my top strategist partner i think is more bullish on emerging markets, less bullish on europe. when you look at markets specifically, what you have is this massive engine in technology and even though you have some tech in emerging markets in asia, they're really more for the most part the manufacturing side of technology folks who make the intel chip, or folks who make the apple phone as opposed to the

intellectual capital behind that it really changes the whole way the u.s. market operates compared to everyone else. do i think this divergence on economics and earnings are likely to continue, the answer is yes >> and all of this despite what happens with elections, the trade war. >> in the notes we put out this morning we highlight this laundry list, there's this expression the market climbs a wall of worry. people are concerned about the yield curve inverting and the fed tightening and trade wars and mid-terms, and the question is this going to derail, are we going to be looking at a recession in 2019, and if the answer is yes you want to be looking at long-term stocks. in some way is it going to squeeze the profit engine and i think 7% to 8% profit growth next year is good number

that's 1% a month for the next six months >> thank you for joining us. we have 11 minutes left of trade. we are well-off the lows across the board for the major indices. up next on the show, goldman sachs bullish on this mystery mover that hit its highest lelev nearly three years to date we'll reveal the stock when "the closing bell" returns. how about some of the lowest options fees? are you raising your hand? good then it's time for power e*trade the platform, price and service that gives you the edge you need. alright one quick game of rock, paper, scissors. 1, 2, 3, go. e*trade. the original place to invest online. tap one little bumper and up go your rates.

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conviction buy list trading at 65 at the moment all three stocks up nicely today. ulta still going strong up 5% even after that big bounce on the kylie cosmetic line on friday and after the bell nike facing some harsh criticism after announcing nfl player colin kaepernick will be the new face -- one of the faces of its new ad campaign. we'll be right back.

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don't get mad at your well-liked neighbors. get e*trade. welcome back to "the closing bell." about three minutes left of trade. let's start with amazon, of course, hitting that $1 trillion mark today here's a 12 month chart. what an extraordinary rise market cap 12 months ago today was 480 billion. nonetheless a milestone hit after apple hit last month despite amazon's gains of 1.3% the nasdaq is actually lower down about 0.3%. the dow was down, but if we look at the dow intraday chart you can see we've sold off a

fraction but well-off the lows which came in the last couple of hours of trade sectors today quite a lot of divergence in fact, three sectors near or down more than 1%. tellco, materials, health care this has been a day of dollar strength where and the reason i've got the 12 month chart there you can see that august in the summer not as strong as you might have expected but the dollar strong today. >> we've had two gains in the dollar on some of those trade issues when that happens you get those very predictable emerging markets go down, china internet stocks drop. that's what we had today but the effect was much more modest besides amazon i'd note apple has had a new high, cisco has had a new high not a let of tech break outs,

buto'reilly, dollar general, tjx. but these retailers have been regularly on the new high list what we have been sort of missing on the new highs is a notable break out across the board. a few tech asks a few retailers but other than that, pretty modest every day, 50, 100 stocks on the new york stock exchange. i start paying attention when we get 300, 350 >> we're well-off the session highs, so this is another day of relative out-performance to the rest of the world. >> s&p up 8% ex the u.s. and germany is down about 4% or 5% for the year. it's very rare you get a 4% divergence between the u.s. and the european markets

>> that's probably why banks are high today, one of the two sectors that was up sort of 0.5% or so. there goes the bell. the dow only fractionally low. we are down 11 points or so on the dow. the s&p and nasdaq a little low but well-off the session lows. welcome to "the closing bell." i'm sara eisen here for kelly evans. let's take a look how we are finishing up the day on wall street dow closing lower, only 11 points it was down more than 100 at the lows s&p 500 down less than 0.2%. it was pretty broad though, in terms of the selling financials, utilities and consumer discretionary were the only industries that closed higher on the s&p.

nasdaq down 0.25%. starting off september down 0.4% and coming up we've got the latest for you on the storm that is threatening the gulf of mexico and the region's oil production moving the price of oil today a little bit joining us is mike santoli, and phil and karen firestone and leading the dow today was home depot while nike was the biggest decliner biggest winner again advanced micro, and sea gate was the biggest laggard today. so, mike, historically september is the worst month of the year for stocks and we started off a little bit soft >> yeah, a mild softness when you looked at pre-market it is when europe opened and then it seems as if that was the

concern. the u.s. not really finding a lot directly to worry about it so it seems like nothing has really disturbed the general trend. we've meld very close to the highs. i feel like it wouldn't be unreasonable to pull back here and not have the general strength change too much >> phil, when do you see that performance difference with europe is that something that encourages you to put more money into work with the u.s., or if not a pull back with the u.s. arb where catch-up with europe >> i like european valuations, they're really cheap it's hard right now when the dollar is this strong. the dynamics of the u.s. market is strong. to mike's point you've got relatively low interest rates, you're below the real rate so you have to look at this opportunity to pick your spots and look for an opportunity on

the other side >> you see waves of volatility with the election cycle? >> i do. early estimations could be the house might be up for grabs and mix in a new candidate for supreme court and a rhetoric coming out about china and canada entertainment do i manage the headline or do i manage earns take a away the tax stimulus, you're still 6% or better. unfortunately the headlines are tough especially with europe and emerging markets >> kerry, critics said earlier on the show they expect to see the s&p about 3% higher by december next year what would you say to that >> i'd say from their lips you know, who knows. i think that's a bold call we know that earnings have been strong, and this is a market that is trading on earnings. it's trading on a flight from overseas into the u.s. it's on

consumer sentiment, and i think that the competition from interest fairing vehicles such as bonds just isn't there right now. so as long as we keep this trend in place and earnings can grow, i think it's hard to fight that market, and money on the side lines is getting tired of being there. so we've seen that since the beginning of july, that money has moved into the market in a way that surprised many people and now they're clamoring to get onboard. as we all know, things can change the market can get expensive if it goes up another 7% or 8%. we're really in i would say heavy territory in terms of the p/e ratio, and investors may become worried at that >> 290, we saw a tick up, we got really strong ism manufacturing numbers today, almost the best ever and i'm wondering if we cross that 3% threshold again, that

could act with the stock >> you don't have a lot to play with if bonds go higher and corporate yields obviously track the way you would expect i don't think it's outright bad news it's just one of those off sets you get to a bullish equity market and another thing is the market still has that sensitivity to the possibility that we're looking at peaking numbers right here, there is a bit of a front loading of activity because otherwise you would have i think -- >> ahead of trade tariffs. >> but also just the fact we have all these incentives with the tax package so maybe you're seeing a bit of a rush of activity that's going to fall away i don't think it's going to fall apart from there usually you don't go from 60 ism to skirting inflation risk at all. >> let's move onto talk amazon got to when it comes to the

market action. today becoming the second u.s. company ever to cross the $1 trillion level, and that's a trillion reasons for a smile for ceo jeff bazos here's a look back what bazos has said over the years. >> we have over a billion of cash, very different from ecommerce companies. we're in a great position and strong position for the future we don't design the company for any particular macroeconomic environment, we design what we think is best for the customer experience and ten years from now people are still going to want low prices, we know they're still going to want fast delivery. we never have to worry we'll wake up ten years from now and the customers will say mr. bazos, i love amazon, i just wish you delivered a bit more slowly every thingal important thing we've done has taken a lot of

risk taking, perseverance, guts and some have worked out, most of them have not i knew that when i'm 80 i would never regret trying this thing that i was super excited and it failing me if it failed, fine i would be very proud of the fact when i'm 80 that i tried. >> great comments there. he hasn't quite got a trillion dollars to celebrate he's got $160 billion himself, still reason to celebrate. let's bring in bertha coombs for more how amazon got to that $1 trillion level >> it has been an amazing ride for amazon and amazon's rise this year and over the last several years has played an integral part in bringing the nasdaq composite up it's gained about $65 billion in market cap over that time. that makes it a lot bigger than a awful lot of companies in the

s&p 500. you can't really talk about amazon without talking about apple. they're neck and neck there in term of that market cap valuation. amazon today falling just shy of the trillion dollar mark though, both of these companies have really been neck and neck when it comes to consumer technology they have both changed the way we experience retail apple with apps. now we buy thinks with apps. now we buy retailers through apps amazon of course online, on your phone, you can buy anywhere. amazon has really caught up and really caught hold at home with alexa. and then of course there's apple tv and prime video which really shape the way we all watch entertainment these days right along with netflix and roku. it's a whole new world since these guys went public really in the last five years. but when it comes to profits and sales, although they're in the same ballpark on sales, amazon

over the last 12 months as of june with $208 billion, apple $256 billion in profits, they're very different. amazon, net profit about $6 billion. apple about seven times that because of that juggernaut with the high margin iphone nonetheless if you take these two stocks together they account for 80% of the nasdaq gains this year apple another 340 points it's a very concentrated market cap. back to you. >> yeah, influence is huge on the market bertha, thank you. let's get more to josh lipton what drove amazon to this milestone. >> sara, 96% of financial analysts rate amazon a buy even after this remarkable run that bertha was talking about there with the stock up more than 70% so far this year

one powerful reason, analysts say, the company's fast growing increasing large rev nigh streams which bulls argue would drive higher profitability from here including advertising, subscriptions and yes, aws amazon's cloud computing business remains the company's profit center. in the latest quarter they reported operating income of $1.6 billion, and revenue dropped another 49% to $6.1 billion reaccelerating its growth rate for the third straight quarter estimates that aws accounts for at least one third of that one trillion dollar market cap this cloud base does face competition with rivals like microsoft, including the fact microsoft has been selling into businesses for decades so when customers are ready to move the cloud it's a good bet they're going to move from office to microsoft 365 on azure

cloud rather than jump to a rival. the global market for public service is big and growing very fast growing from 21% this year alone to $175 billion. >> thank you very much for that. and amazon has reached this $1 trillion market milestone despite repeated attacks by president trump on twitter he's accused jeff bazos due to the quote internet tax case in the supreme court as well as accusing amazon of using the post office as a quote, delivery boy. joining us on the panel isaviary sherfield from vantage capital is that political threat a major threat >> i think investors are really discount anything major political pressure turning into anything material for amazon i mean certainly the stock price has reflected, you know, no

worries whatsoever >> and in terms of the valuation that we hear and this sort of ongoing march higher, a lot of its come in just the last year has the pace of it been too fast of late. >> so i think amazon a very successful company that has delivered on any sort of major areas of the business that they have pursued over the years. and as they've entered new markets investors have assumed the same level of success as in the past and to the extent that they succeed leaving their own milestones and initiatives the stock could certainly continue to run whether all the near-term good news is priced in is certainly -- i think that's certainly the question here. but i don't see in looking at the company any major head winds in the near term, but there certainly are areas to look at to watch to see whether there

might be some weakness coming over the next six to nine months >> phil, you can't value amazon, the traditional tech company it doesn't have the profits the same size. so how do you look at it i heard you look at the addressable market caps it's trying to get into and ipalready, like cloud and retail and grocery. is the sky the limit then? >> it's cash flow. you start there simply because looking at top line earnings is pretty difficult to get your arms around. not with apple, by the way we've had the same competition with apple i asked aviary a question, now you're seeing direct consumer opportunities created by big buck retailers i think that's the first sign of a competition for amazon we've not seen in the past and that to me makes me pause on the stock here

what do you think? >> i couldn't agree more jeff bazos in a commentary was saying look, consumers i don't think you should come to me saying you should have shift slower or given me higher prices but what's interesting the low prices are not a differentiating factor anymore i just received from an item from target last week in one day. i receive everything now from wal-mart and target in two days, $35 and under and free shipping from wonderful these companies are dramatically outstripping amazon's own core retail sales the reason their sales grew in the 30% to 40% range was through the 3p marketplace what's interesting is i recently met the head of a very large 3p player, 4% to 5% margins how is that sustainable?

and they are working desperately to try to get amazon if you look at the valuation the bulls are constructing of a trillion dollars or more for amazon, almost half of that is marketplace. i think that's where i would really look because it's like gold minors. everyone's chasing the gold of revenue growth, and here's the valuation of revenue growth. it's not even actually gold. and if that were to weaken there could be some weakness there >> that's the key. >> more than most stocks in the revenue zone, the perception this company has, the price to sales ratio is the highest its been since 2003 for amazon that implies the market is trying to suggest that there is this explosive growth opportunity. maybe it's coming from the cloud or not, 2% of the market cap right now. it's also on the more expensive sides of its recent history.

but i do think it's fascinating in contrast with apple apple is all about the here and now and in fact looked cheap forever. they got to the trillion dollar mark in almost entirely different ways right now and that's why it's hard to yell at amazon this stock and say you don't belong here. this stock had 20% pull backs almost every single calendar year it often was a hot cold stock. >> instead right now you're going into the last quarter of the year when the sales should have exploded. after this roll is over -- >> at some point it gets too much >> keri, final word on amazon. >> you've all made good pints. i would just say what we don't

know about amazon is what it can do in media, in all ort aspects of discretionary sales, consumer health care. i'd rather be with the disrupter than with the disrupted. >> keri, thank you very much for that thank you to all of our panel. up next nike shares under pressure after featuring colin kaepernick in its new ad we'll discuss whether the rewards outweigh the risks of this campaign. plus tropical storm gordon is racing towards the gulf of mexico impacting oil prices. we've got the latest for you coming up. and wt weanto hear from you. "closing bell" is back after this

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shares of nike did close lower today. a little more than 3% after releasing that ad, one of them featuring former nfl player colin kaepernick as part of the 30th anniversary of the just do it campaign. with the words quote, believe in something even if it means sacrificing everything kaepernick has been unsigned

since march 2017 since kneeling during the national anthem in 2016 as a way to protest racial injustice. it's also led the nfl to reconsider its entire national anthem policy. >> just moments ago the nfl released a statement on social justice saying, quote, the national football league believes in dialogue, understanding and unity. we embrace the role and responsibility of everyone involved with this game to promote meaningful positive change in our communities. the social justice issues colin and other athletes have raised deserve attention and action >> there was a concern because kaepernick has this lawsuit pending accusing them of colluding to keep him off the field. that would be a bold move by nike which has been a partner with the nfl >> clearly this statement was

driven by the whole nike debate today. let's discuss it further nike's stance on social issues and whether that can impact its future partnerships a former nike executive and ceo and founder. from the perspective of branding and so on and so forth, what's your view? smart move or too much to the risk side? >> it's a gamble ultimately nike is gone for a compelling passion positioning of athletes and sharing their path to greatness with us. this particular one is not as down the middle for nike i mean, this is a gamble for nike with the consumer, with the brand especially heading into football season. this may have not been the best choice >> dean, do you agree?

is it worth the risk >> ralph, you mean you're asking me. >> ralph, sorry. >> yeah, no problem. i think there is a risk with regard to the reaction and how folks are going to kind of take the message and what they may do with it, but as far as the brand stands and the history of nike as a brand, it's more than just story telling. nike's brand stands stands for athlete dedication and purpose and it reel isn't just about a specific issue but cap taking the risk in and doing what he felt he needed to do cap hasn't played for a while and, you know, it's -- nike's an athlete company and he hasn't been on the field. in terms of standing up for what you believe in, dead on. >> ralph, you mentioned should they have done this already, should they have done it last year given the timing and

debate if nike has had colin kaepernick on the payroll throughout this time when he's been protesting and sacrificing, does that sour the whole protest he's been on the payroll throughout the period as opposed to just today. >> i'm not exactly sure what you mean by sour if you mean is it somehow disingenuous, i don't think so if kap was an athlete and lead athlete, yni think that's prett customary. was this a good dialogue to have, clearly it was going to come with a reaction and i'm sure they knew that when they made the decision >> you say that there is risk involved here. no doubt the risk was very much kind of calculated on some level by nike, rieging this wecognizi

going to be seized upon. what do you think practically speaking on an ongoing basis is the risk to the prabrand? if the campaign is in tune with nike's broader image going back many years, where do you think the hazard comes in? >> the other pieces of creative are brilliant, they're inspiring. when you talk about serena williams and her creative is it's only a crazy dream until you don't do it. that's nike, just do it. when you talk about odel beckham, jr.'s add creative and that one states don't wait until you've won a ring to create it this particular one is open to interpretation, and i think that's where the most dangerous place to play. they might take that a little bit too far and that's the risk.

on the other side of the table nike has got $43 million worth of free press in the last 4 hours. pretty great marketing campaign from that standpoint they haven't to spend a dollar yet and haven't had to place an ad yet, but there's definitely risk for the long-term especially heading into the fourth quarter now for the holiday season i think that's going to see whether it makes an impact >> from an advertising perspective don't you want a campaign or message that is resonant and socially on point right now and makes a statement and takes a bit of a risk and daring while obviously not alienting some of your consumer base it seems like a hard task to do right now, and i'm trying to think of ones that have done it correctly if this one doesn't hit the mark >> very good point i think if you go back to nike's

history i think it's not so much what's the difference between or among colin kaepernick or serena, it's what's the commonality. if you go back to if you let me play back in the '90s and all the messages are controversial i would submit if you let me play was just as polarizing back a few years ago with regard to womens participation in supports and support of panel nine. but now things are so much more acute and now you have reaction in less than 24 hours. but i think still the fundamentals are the same for nike, trying to stay true tool their brand. >> okay, guys, we will leave it there. thank you both very much >> thanks for having us. >> thank you still to come on the show, casino stocks going bust today despite a big jump in the gaming

revenue. but first we'll have the latest on the storm threatening the gulf of xi'smeco oil production and the impact it's having on crude prices "closing bell" back in a couple of minutes

welcome back to "the closing bell." we've got an earnings alert. josh lipton has the story for us in san francisco >> reporting eps here of 31 cents, revenue 672 million

versus an expectation of 663 million. subscription revenue it company is saying 566 million. the the company also saying, wilf, they're going to raise their fiscal 2019 revenue outlook. and for their third quarter subscription revenue they're looking for between 609 and 611 million. the you'll see the stock there is slipping in the after hours i quickly caught up to get his quick take he thought net net solid quarter and guide, though, he is waiting on for more details he says in the call to find out what the break out is from this recent acquisition from adaptive insights obviously a lot of hope and confidence built in. that stock was up nearly 0% year to date. the conference call starts 4:30 eastern. guys, back to you. >> josh, thank you very much for that time now for a cnbc news update hey, sue >> hello, wilf and everyone. the white house responding to

bob woodward's new book saying its nothing more than a book made by a former disgruntled employees. the city's district at or near announcing the charges against ryan -- >> recovered from the scene shows that jones was unaarmed and he never turned towards him or gestured in a manner during his flight, by which i mean his running away as jones ran unarmed pounall fired at least three shots at jones and traffic hitting jones at least twice in the back the cdc releasing guidelines on the handling of concussions for kids tay say concussion symptoms usually clear up on their own within a few months and does not

recommend x-rays or blood tests but does recommend rest for at least three days after a head injury >> okay, sue, thank you very much still to come, naming rights are common for sports arenas but now nasa may sell the rights to put cpoteorra sponsor's logos on rockets and other spacecraft. details of that when we return ♪

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tropical storm gordon is threatening the gulf coast could become a major hurricane tonight. nbc's jay gray is in gull port, mississippi with the latest details. what can you tell us >> reporter: if this thing stays on its current track this could be the strieke point we expect this fast moving system to move in here we're going to see a soaking rain, but there's also a concern, forecasters say about the storm surge that could be 2 to 6 feet. that would cause some significant damage here. people are preparing, getting ready for the storm.

this is an area that's seen several storms move through so they know what to do here. it does appear most are taking this thing seriously, getting together the food, water and medicines they'll need to sustain for a week or longer if they lose power, and that could be a very real possibilities here right now not the worst of conditions, but we do expect things to really start to deteriorate over the next several hours through early morning tomorrow morningch the good news is it is a fast moving storm, so it's going to move through pretty quickly as well >> thank you very much for that, jay gray in mississippi. the storm is forcing oil rigs to be evacuated and driving up the price of crude and seema mody has the details of that. as jay just said, tropical storm gordon is fastly approaching the gulf coast and expected to make landfall tonight. raising supply disruption fears. the gulf area accounts for 17% of the oil crude production and

45% of its capacity. as the storm intensifies oil producers are taking precautionary measures exxon is performing a control shutdown meantime wti crude prices broke about 70 barrels today but then fell after a rise in crude inventories. the other event they're watching is the on set of sanctions on iranian oil. iran's exports to south korea and the eu are already down double digits. wilf, back to you. >> seema, thaeng munk you very h for that despite that beat stocks were lower on the day today >> is this the time to buy joining us now to discuss is fast money trader guy edami. so what's your take on gaming?

>> my take on gaming is this, if you look at the macau gaming we find ourselves in a bit of a different environment. win on valuation and given their earnings growth it's a pretty compelling story but the fact the stock goes down seemingly every day it tells you bigger forces are at work. and those bigger forces might come in the way maybe people are scared of the trade wars that could potentially go on and maybe it's bigger than that. maybe tesla levels we saw about last july about 125, 130 or so >> mike, if the chinese continue to have to clamp down or did have to clamp down more severely on capital controls, that traditionally doesn't bode well for macau gaming

>> doesn't at all. and it's not strictly about money leaving the country, so i think that's basically the overhang on the stocks for better or worse these companies based in las vegas have become, you know, proxies for the macau trade. so at some point there's an opportunity. just hard to know when they get kind of liberated -- >> but you've got concerns as well >> to some degree. it's not been as strong in terms of bookings and all the rest >> guy, do you think the vegas numbers might lag a little bit the u.s. reigns pretty strong. >> to mike's point they should be stronger than ever given the perceived health of the u.s. consumer so maybe las vegas is lagging a little bit but a certain point you have to ask yourself does a win become a take out candidate you're probably talking about a market cap of $15 billion or so,

and it might be a compelling matchup for somebody out there i do think this further down side, i think at a certain point you have to look at it and say the china situation will go away at a certain point and this will be a screaming buy i just don't think it's here right now. >> gi eduy edami talking gaming stocks and don't forget to tune in at 5:00 p.m., fast money. up next on this show facebook cheryl sandberg and twitter emphasis jack dorsey heading to capitol hill for a day of testimony tomorrow. plus dunkin' brand shares hitting a new high today on take over speculations. is that relestic we'll discuss coming up. to homes than anyone else in the country, we never forget... that your business is our business

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education to take your trading to the next level. only with td ameritrade. as one of the nation's largest investors in infrastructure, we don't just help power the american dream, we're part of it. this is our era. this is america's energy era. nextera energy. we've got some news on nafta and sue herrera has the news for us >> this comes from the canadian prime minister justin trudeau. he's making some comments on the nafta negotiations he said he always knew that the nafta talks were going to be a long process and he says that mexico and the u.s. had many bilateral issues to address. he says there are a number of things that we absolutely must see in a new nafta he says no nafta is better than a bad nafta for canada he specifically says that

nafta's chapter 19 dispute resolution mechanism has done well and he will hold firm that gives mexico and canada the right to challenge the dumping mechanisms and he says because that was scaled back in the negotiations with mexico, he's not going to go for that. he says he wants to full chapter 19 in the agreement. he is pleased with the nafta progress on autos. so he's taking kind of a hard line on several thing, the chapter 19 resolution and he says no nafta is better than a bad nafta for canada so sara, it looks like there's still a lot of work to be done >> yep, those negotiations resuming tomorrow in washington. in other washington news investors are getting a preview what top executives from twitter

and facebook will say tomorrow on capitol hill. >> thank, sara we now have the full written testimony from dorsey and sandberg the big message they're going to try to convey, we are on top of this problem both executives will detail the steps they've taken so far to shutdown fake accounts and stop disinformation for example, twitter will say that the number of accounts they've removed from manipulation has shot up 214% from last year also the number of reports it gets about phony accounts has dropped from 25,000 each day back in march to just 17,000 in august and dorsey will say that's august that twitter's preventative measures are working. facebook's testimony sandberg calls what happened during the 2016 election unacceptable and she says the company has doubled the number of people who are working on security to 20,000 employees.

she once again describes this fight as a quote arms race now executives from google also provided written testimony on the company's verification process on political ads but they wanted a to see him appear enperson. instead we don't expect to see one of google's top brass tomorrow so there might just be an empty seat >> it'll also be interesting to hear whether members of congress are more prepared after asking some pretty basic questions last time >> well, i did get an early line of question from ranking member senator mark warner who sits on the intelligence committee he says he's really going to be focused on the rights of users, why the terms of service are so difficult to find. you've got to remember this is also an opportunity for law make too ers to be in the spotlight, show their constituents and see how

that plays back home >> we're joined now by michael beckham on energy and commerce and the present and ceo of the internet association and edward snyder, cofounder of the charter equity group edward, i'll start with you. what do you think the committee wants to hear from, what topics in particular? >> the senate intelligence community is going to go after foreign influence on the social network platforms and then theous on energy and commerce is going to go after bias specifically with twitter. so you're going to get a full round of questions, most of which i think you're just mostly posturing for the mid-term elections. i don't think anything will come of this, but it'll be an interesting circus >> wall street want to know whether this represents a threat, a regulation or action from congress on these business models >> i think for both hearings it's important these executives are going to testify

it brings more transparency and hel helps educate the policy makers how these things work. clearly they've made active steps both on the foreign interference and as it relates to foreign bis, i think it's very clear that doesn't exist and i applaud both cheryl sandberg and jack dorsey for going to testify this week >> you say you're pretty sure those things don't exist, but aren't these companies in the mode of trying to prove a negative here. just under the sense of being in the spotlight and seeming to take action to potential risks to their platform that may or may not be there >> it's very clear from anybody who has used the platforms and particularly on the conservative side people are able to have an audience of millions and millions of people and speak directly on those platforms and they're very open and

transparent. frankly, it's an incredible tool on both sides of the aisle to have their voices heard in a way that's not possible in any other form of media or communication >> is there one that's going to be singled out >> well, i think twitter is coming under sharp and i don't know if i would agree, but when you ban the president's account for 11 minutes, you have something to explain and in the recent past when you see people on the right being banned or similar discourse on the left and nothing done, so whether or not it exists it's hard to prove or maybe it's there to begin with, but the fact is they're getting large enough now that they could fall under regulation by the government if they so desire, but that's a much longer process that will take a lot more in terms of congressional and executive action and i don't think there's any danger of that coming from these hearings, which as i mentioned are pretty much a prelude to the midterm election so as they said in the lead-in

it's pretty much get in front of the cameras before the midterm elections can appear to be doing something about it >> okay, michael, edward, we'll leave it there thank you both very much up next, find out why you can soon see corporate logos on nasa rockets and other spacecraft that story in a moment - learning from him is great... when i can keep up! - anncr: thankfully, prevagen helps your brain and improves memory. - dad's got all the answers. - anncr: prevagen is now the number-one-selling brain health supplement in drug stores nationwide. - she outsmarts me every single time. - checkmate! you wanna play again? - anncr: prevagen. healthier brain. better life.

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president trump making some comments about nike's colin kaepernick deal in an interview just published from "the daily caller," the conversation they had with their reporters in afternoon, quote, i think it's a terrible message that they're sending and the purpose of them doing it and maybe there's a reason for them doing it, the president said, but he also said i think as far as sending a

message. it's a terrible message and the message shouldn't be sent and there's no reason for it, but here's the part i thought was interesting as much as i disagree with the colin kaepernick endorsement and in a way i wouldn't have done it, and another way it's what this country is all about that you have certain freedoms to do things that other people think you shouldn't do, but i personally am on a different side of it and actually saying that nike has a right to do it and it's what america is all about. >> it's a terrible message and nike is a tenant of mine they pay a lot of rent which -- which is a conflict of interest, but it was a much more balanced statement and we thought we might get a tweet from him immediately and it would be very politicized, but this is neither. >> there might be some other things that are getting the president riled up and perhaps even in the rest of this interview there are other issues >> exactly >> he doesn't mind the issue being out front and that's been the pattern that the president likes to keep reminding people who are his supporters that, you

know, some people in the nfl are doing the wrong thing, quote, by not honoring the flag in his words. so i don't think he's the reason to go after nike in particular on this one. >> the nfl season kicks off this week and it's been a big area of focus whether we're talking about the new media company getting exposure and does this hurt the ratings as we kick off this all-important new season for the broadcast? >> it's very hard to separate out the decline of ratings happening across television and across tv sports with those basically protests and people walking away >> it seems to me if you were very hard core and thought the nfl was a brand and it was not worthy of your time and attention, last year was the time to walk, right? that was when it was at its peak, this issue so i don't know incrementally, and i don't know whether people would lose interest. >> which was in line with what tv is doing, and a huge percentage of the top-rated

broadcast. >> and it's hard, and it's hard to figure out what the new policy is, and they said you could go in the locker room, and you get to stand during the national anthem and it would be hard to pacify president trump and a lot of people who agree with him >> so bringing it back to nike, down 3% which was close to the lows of the day when it closed, but in perspective, it's still up 27% year to date and 50% almost over 12 months. >> just off of an all-time high and i would also keep in mind that nike is a global company and the growth coming from china is it's coming from western europe in double digits and yes, the north american market is growing again and it is a much younger audience and these boycotts tend to be short lived and a lot of noise we will see and this is a different scale, think, and it's a pretty divisive issue that nike has put himself in the middle of. so long as you talk to key investors, they're not worried and nike is on top of his game

and he's got a great relationship with his athletes and that's what matters. >> being an international company and the soccer players on the 30th anniversary and maybe they were. i didn't see it. >> anyway -- by the way adidas shares also fell today and they did indeed. >> that's enough for the closing bell "fast money" begins right now. >> "fast money" starts right now live from the market overlooking new york city's times square i'm melissa lee, tim seymour, kare karen finerman and guy adami don't fear the september swoon, and cronos group will be here to talk about the cannabis craze and why he says the short sellers are getting it all wrong, but first, we start with amazing amazon somewhere ceo jeff bezos is smiling and maybe laughing as the company becomes the second one ever to hit a trillion dollar valuation coming i