question so who has leverage? >> china has leverage. we have more leverage. their number will shrink and shrink >> thanks for watching power >> and the closing bell starts right now. >> we'll discuss which stocks still have room to run >> i'm in seattle. amazon announcing new alexa powered devices today. i'll have that on the full product line up. >> marijuana stocks after a record day yesterday i'll take a look at how high the evaluations have gotten and how popular it has become. nike just wrapping up the

shareholder immediate meting, how the company handled questions after making kaepernick the face. closing bell right now ♪ >> welcome to the closing bell let's check in on the markets. we are headed for record closes for the s&p and the dow. the dow as you can see is up it puts it pretty much at the high the week to date is up but only slightly the other two around the record

highs. the dow is the level to watch. it would be a new all time closing high today notching the first record high in almost eight months. january 26th is the last time it happened two companies have hit a trillion in evaluation it would be apple and amazon both up since january 26th the treasury yield is up 17% since the holding above the 3% level. the u.s. dollar has strengthened by more than 60% and the peso by 97%. not everyone joining the party >> we mentioned him because he

is closing the joining bell exchange today steve, let's come back to the u.s. >> i concur with sarah it is stabilizing. new highs. what should people with doing? >> usually buying new highs not selling new highs. if you go back to january where they were sold and the market traded off it was a different state of affairs we are having right now. funds are trying to make up their performance. whatever they had or didn't have they are chasing materials, chasing staples and i would say stay in technology why because of earnings?

>> because of earnings where else are you getting 20, 25% growth in the last five years technology has outperformed every other space by 2-1 and some times chb more thanthat >> if you look at pmicrosoft thy are in the dow right now and what's driving it. the components in the dow are what's helping to drive this rally we are seeing right now. >> are you surprised fwi size of the dollar move today to the

downside i guess it is a risk on day and therefore the dollar giving up a bit of ground. it is a surprisingly big move. what's driving it? >> no. i'm right with you i think the logistics and the price positioning of some of the positions that were added over the last couple of months is one of the big factors i don't see a huge big move in the dollar much lower. i think 92 and change. we are right below 94 right now. it isn't surprising either after the central banks of europe and japan we know it was no surprise on swiss next week with our fed coming on board i would suspect that the dollar index as we get into monday, tuesday and probably finds a bit of a floor i am just telling you when you a

january where stocks and interest rates did what they did and then for the next six months virtually gave it up and moved sideways to regain that ground when you look at it as a technician is a very optimistic issue for pattern continuing in this case to the upside not only on stocks but rates as well. >> do you agree with that call and then the fundamentals behind the day as well. you have uncertainty on trade. things have only escalated since then but the market has appeared to shrug it off

so i would say it's a win for market >> to a certain extent how long and how many years has it been an unbalanced trade and both sides have complained about it for 20 years now with china what's your top pick >> you know, i'm still looking atfinancials i'm interesting to see what goldman sachs does with this management team. i'm taking a closer look at g d goldman sachs. we are seeing clients increase their positions in financials not necessarily pure play investment banks but also some of those asset management firms

that have private equity and other asset platforms. it is looking interesting to us right now as well. >> okay. thank you so much. amazon unveiling a suite of alexa powered devices. >> reporter: amazon announced dozens of alexa powered devices. this is called the amazon basic micro wave they used alexa to cook it >> yeah. it's a microwave

it has deeply integrated alexa into it. >> reporter: they stopped it using alexa. it costs about $60 and will ship later this year. the other is echo autothoug it is integrated with alexa. you can stream music or do things like have it read to you. it costs $50 and amazon is partnering with ford, toyota and bmw. it comes with a dash mount for the echo device. basically it looks kind of like this like your cell phone. it's pretty compact

>> i think the microwave is a bit out there. i think it's maybe marketing employee i don't know if they expect it to take over the home appliance market aside from the micro wave, i didn't watch r catch the pricing on it, all of the products were under 250 bucks. it is an interesting counter point where the cheap phone was $750 the watch was 400 bucks. we see amazon doing is laying further ground work for the services business. you look at prime music and prime video with the new fire tv features that they announce that will allow you to record the video and cast it to another

amazon enabled device. you know, is surround sound speakers that encourage you to use music through amazon services it is an interesting long game we are seeing immerge even with ring and security features, behind that there are services either to subscribe to, to record the video long term and store it long term or have other notifications involved it is a very interesting and intricate consumer electronic strategy >> when we consider all of the questions around data privacy is expanding alexa the right thing to be doing at the moment or is it going to attract more undue attention fromregulators

wl mart is allow today use security cameras to look at which aisles people linger in, what they pick up and put down, what people are buying and offer generic versionsof those we'll see how it pans out as far as the use of data and implications not just for amazon but for others it is part of a broader strategy everybody is having to think about right now. apple of course has its home app and features where they are try to go tie the home together. we expect to hear from google about newer products that will tie into this sort of thing. >> how do you view these

electronic products into amazon's broader strategy around hardware which has sort of been a mixed bag but getting consumers to be in their eco system of crime? >> it is really what it is all about. it's not just for a person that is really into gadgets it's not just something mundane as a microwave

i is infiltrating our leisure time >> okay. great stuff. thank you for that thank you to john at hq. >> i didn't even buy a microwave until i had a child. i like cold leftovers. >> what about micro wave popcorn? >> you can make it ton stove >> our executive producer does not have a microwave >> do you make popcorn like that >> it is better. >> you walk down and buy it. >> you put a little olive oil. >> microwave popcorn here is better than the u.k. that is all i use my microwave and occasionally curry we'll save our viewers from anymore of that. marijuana mayhem on wall street. red hot pot stocks have seen massive gains, massive volatility and we'll break down

the latest moves and whether all of the buzz is bringing new investors into the space >> and up next a busy day in the world at leisure. gap tackles a new demographic. weighing no to see whether you can stl ndilfi the value amid-aamid amid-aamid amid all of the headlines. i'm fine. okay, well let's see you get up from the couch. i'm sorry, what? grandpa come. at cognizant, we're uniting doctors, insurers and patients on a collaborative care platform, making it easier to do what's best for everyone's health, every step of the way. you may need more physical therapy. ugh...am i covered for that? yep. look. grandpa catch! grandpa duck! woah! ha! there you go grandpa. keep doing that. get ready, because we're helping leading companies lead with digital. get ready, because we're helping leading companies this is john, and i'm with pactel cellular in los angeles.

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welcome back to the closing bell here are the winners intel and walgreens all up. national football league getting thrown for consecutive losses today sunday games have seen a rise in ratings the former prime time marquee event suffered the lowest week 2 game ever for week's match up of the seahawks and bears. last season averaged a 6.4 rating and 10.8 million viewers which made for the lowest rating

and least watched snn monday night footballhistory. >> there was a recent report that they handed out $8.2 billion in revenue in 2017. it is a record high. it is a profitable franchise >> it is sort of a bit of a fix. no one gets ren gaited it is the teams that stay in

there. >> the president is trash talking. the ratings are down it is more profitable than ever. >> it's a very valuable thing to own. >> shares of nike hired today. the company wrapping up the investor meeting my key stood by the decision to standby collin kaepernick. online sales showed a 61% rise in the amount of sold out merchandise compare today the days before the launch.

they talked about where they growth would be coming from. they talked about the decision and stood by it. they talked about nike standing on the side of social issues they talked about workplace issues overall i think it was an upbeat meeting. they reiterated it resulted in the improvement in north american business. it sort of sounded like it was going to continue. >> how long does it typically last it is slightly more political endorsement. when an ad campaign comes out far sports brand like this does it impact them far month, for a year, five years >> i think the significant up tick will be short lived i think knnike has always stoodt the intersection of culture and

sport. i think it has a long tail and keeps them relevant. >> is that all already in the stock? it is up almost 40% this year. best performer in the dow, where is the value in this >> they are driving growth, turned around their north american business. they highlighted they have a $10 billion sportswear business. it's a global company and they are growing. >> i'm glad you brought it up. sit a very competitive business

as well. footwear, gap is going well. how many players with thrive even with such a strong appetite >> right now it looks like nike and lulu are winners they ahave had tremendous gains. think think it could be a billion dollars business in a few years. i wonder about gap's entry they have had success but i don't think it has grown quite as fast as people hope it will be interesting to see what gap adds. the one thing i think gap is good at is data. i would imagine they will be leveraging their customer data from all of their other brands to kind of sell this hill city brand. it is a digital first brand. it could be interesting. >> thank you very much for joining us >> thank you >> you prefer your at lee suisu

brand what >> i always had nike to be someone that is late on a trend i bought my first pair of lulu pants last week >> maybe that means t the top. >> looking at that stock price up 97% >> less than 40 minutes to go ton record breaking day on wall street dow is up a healthy 273 points s&p up almost a percent. the russell 2000 up a point. personal shopping service stitch fix are sitting out the rally. down 12% we'll tell you why and later, dimon speaking out again today. it is still a good dment and we

will discuss it coming up.

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welcome back record highs for the dow and the s&p. if you're watching the levels on the dow the dow must finish

around 26616 that would be a record high. s&p needs to close above 2914. shares of stitch fix not helping out falling on the heels of a downgrade. amazon prime wardrobe and rising customer customer acquisition thoughts. it has been a big winner it has been posting very good earnings, almost 30% revenue growth it is out there for some of the retailers. it is assault and batte subscri. >> wells fargo, the chair lady knocking down rumors tim sloan is in trouble

he is an investment banker it doesn't sound that likely on the surface. i will mention another story that's that they are going to cut up to 10% of the work force. it would be up to 26,000 jobs. quite a significant reduction as part of the ongoing turn around plan they say. it is one reason being the adoption of digital self-service capabilities a big move now i don't think it would be a big move if the ceo was in question. >> so this is a wells fargo specific-type move >> head count has been coming down

i guess a lot of the critics of the last year or two years might have said use the problems to cut the costs and cut branches so you could argue it is a little bit late. it's a big move. i don't think they would be doing it if there was about to be a change in leadership. the question for tim sloan now is not relate today the past issues of the past years if it were an issue the board is back wells fargo is down 8% if you look at one year overall whatever kind of comparison they underperformed the board would like to see him turn around. they have been underperforming >> you never want to read about something that your board is cheating on you. >> never want to read about that type of story. yeah he is an investment banker >> but he had the white house

experience so it gets a little more high profile attention. >> still, we would have to wait and see. wells fargo is up 0.7% today sue herrera has an update for today. kavan auraugh's accuser saih would be prepared to testify next week as long as they ensure who are safety she said testifying on monday is not possible vice president pence rented an american flag that accompanied the remains of 55 fallen american soldiers last month to the korean veterans memorial on the national mall. >> when i was presented this flag he said pearl harbor, i knew where it belonged

it belonged here on this ground, the korean war veterans memorial >> a super bike outraced a fighter jet, a business aircraft and an electric car and three sports cars during a test race in istanbul. don't try that at home it was held on a 437 yard runway during turkey's first aerospace and technology festival. >> don't try that at home. i don't know how fast it was going. >> it is very cool >> looks like a video game >> if they told us in advance it would be cheap >> absolutely. >> i think you're a bit of a daredevil. you're a daredevil >> i'll take that. yes. you're right >> thank you very much >> see you next hour it has been another volatile day for the pot stock. we are back at headquarters with a look at the marijuana market

surge. >> sarah, you to be a daredevil to be trading in some of these stocks these days. to put it in perspective we pulled together a handful to give viewers an idea of how crazy things have got. not to say it could not be a long-term secular play however the short term trading has been really bubblicious over the last ten days the average daily volume 17.2 million shares, more than double over the last 90 days canopy growth about 18 million on average over the last ten days versus 7.5 million

pfizer gets about $3 million amazon gets about $1.7 million there. to put one more finer point on this take a look at the price to sales ratios tilray at 971 times. gw pharma trades at 250 times sales. we are not talking earnings. this is just sales a lot of these pot companies goent really make money. >> market cap for amazon,

employees only 1.7 million >> correct because they have hundred of thousands of employees. >> 500,000 >> i didn't realize it was quite that high. >> a lot of warehouse workers. >> how about 921 times for tilray >> you know the ratio who would have increased is wells fargo. great stuff thank you very much for that is the post stock euphoria bringing millennials back into the market?

we come to where we are at and millennials are trading on pot related stocks throughout the year they have traded them much more than they were you know, again, i guess it goes back to products you're excited about. when i was with you we talked about millennials in tesla it is interesting how they view the market has clanghanged from more traditional view of the world. >> yeah. we were sort of talking about this pointing out examples don't go well for the millennial favorites. tesla is off the highs what is the track record for this group investing for the long term in winners >> i think it's interesting. this type of trade, it tends not to be longer term trade.

it tenlds to be shorter term trade. people are in it for a little while and sort of abandon it. >> if you're going in here you don't want to put a big percentage you have to realize pot isn't fully legal in the united states sit only a handful of states i will say the one thing about it why people got more excited over the last few weeks than normal there's really much more of a mainstream sort of nibbling around the edges

you showed some of the incredible evaluations it's one of the primary reasons it has happened. >> yes thank you. >> all right thanks 23 minutes to go before the closing bell stocks are looking solid this is a broad based rally. almost all of the groups are higher tech materials and consumer staples are in the lead as we watch record highs on the s&p and the dow. a ithird of the dow, should you 'ldiuscongp.e under performers wel scs mi u

>> the dow and nasdaq is up. the s&p did hit record highs today. they are on track. we are on track to close record highs for the dow and the s&p. we'll have more on this record

rally and why some could still be bargains coming up. first jp morgan says he is not corned about immerging marks, the places where he sees the most serious issues next ton osg ll

♪

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welcome back to the closing bell it is having its first dayov of trade. it is $23 a share. snap trading as you can see at 37 bucks her share as we head into the close a nice first day of trade up some 63% or so, 14 bucks higher. time for a new segment called frostbite where we look at the key sound bite from the day. we talked about recent volatility saying it could prevent an opportunity >> i'm not really concerned.

put turkey and argentina side it has gained a percent today. it was moving in today quite a lot. it is settling for the day

that's what this is showing. you can see a decent move when they increase interest rates by 6.5% it shows how tough a challenge they have had if all they gained is about 6% over the last two weeks >> it is right so far. we are seeing u.s. record highs to prove it does seem isolated it has been the question all along is it an immerging crisis. it can be slow motion and spread or is it going to be isolated to the weak links, argentina and turkey is it going to be rite so sit good for the world the money is flowing in the united states i think that's one of the debates. so far the market is backing his argument >> it is one of the debates. it is whether it can turn things

around the measure is inacted in the last couple of weeks have stemmed the slide but they haven't turned around. >> not sure how i feel about frostbite. >> i like it >> it has negative connotations. >> and this is why in years to come -- >> 12 minutes do to go before the closing bell >> i will wait to judge that dow is up 267. if it's about me i'll like it better the s&p is also at a record high we are on track to close at record highs we will follow it in the next 12 minutes until the closing bell 1% gains in the nasdaq not too shabby >> we have got 12 minutes to trade. we'll talking about that as we come back. they say comcast and fox will settle the takeover battle for

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>> welcome back. in the case of komcast it hopes to own all of it and fox to own 61% it doesn't already own we can take a look at what we are expecting in term of timing. tomorrow at noon you put in your first bid. that's the deadline. you can't revise your offer. you have to put in your bid. saturday gets some rounds of

bidding in by saturday evening the winner should be announced. about a month ago or deeper into the summer when comcast pulled out that disney is under contract by, many people posted the situation indicated their belief that disney would not come forward to improve their 14 pound proposal to compete with co comcast. they want that to be the case. has he convinced him of the strategic mpairtive if they wi

will fox sell to comcast or at the price that comcast were to win it at given the windfall or wait until it can get a higher price in a separate negotiation. if disney wins comcast comes away empty on fox and sky and still big questions ton fate of hulu a lot of consumer offerings at one time it may be a bit confusing as we focus on that future for disney. >> and david, this is going to be a fitting combination of what will be such a drawn out takeover to see it focused into 24 hours it will be tremendously exciting if john nash was still around it would be game theory put together like never before i think the interesting thing is comcast has a slightly tougher

bid because they have to show why their bid is better given that fox already owns 39% and they have to prove they can come up with goods. it's something they will take into consideration either way it will be put to work over the weekend. >> it will many people with 16 pounds or approaching that would be crazy land in their terms. it doesn't seem to be the hope of those strtrading the stock. we'll find out in a couple of days >> and takes us back to december 2016 when the first bid from fox came in. extraordinary from the shareholders awesome stuff. i look forward to exchanging e-mails throughout saturday. we'll see what happens on this fascinating combination. be sure to watch david's first interview, black stone's president john gray tomorrow he is the man sort of anointed

now as running the company in his own right pretty much taking less of the ceo. let's check in on the dow. as we head to close four minutes left of trade. record setting day >> how does it feel? >> it feels a little bit euphoric you're not having an explosion in volume. you get that when you get that real sense of people are really buying into it it does feel good. you talk to clients, it does feel good. my sense is i think it will test again. we'll make the highs but don't be surprised to see the market kind of back off we didn't have this full thrust in terms of volume in terms of fundamental drivers u.s. economy, right?

>> the fact that i think people are not so concerned anymore that there will be a drag them down all out trade war with china. the last couple of days has been this tone or this sense amongst two leaders that there's room for negotiation. >> technology is a full leader you're seeing stremgts in pacts like financial they will focus on third quarter earnings it is all verypositive

>> i think that's what the market thinks so it would be the risk >> and over to you for the count down >> thank you very much we have got just under two minutes to trade until 4:00 p.m. what a great day it has been good poz sitive open. just shy of the s&p. there is the key number, 2930 for a record close we need 2914. we will get that record closed.

for the dow it's a record close since the 26th of january. if we look at a year to date charge we can see how we have got up to the gains again. january was the high in the year and we have another one in august we are about to get another one again today for record close it is nicely higher. it is up over 1% bringing it to discuss through the main talking points of the day. >> it is a very interesting day as people try to sort out the whole trading situation. what was interesting is we got a little bit of different leadership once you have got the new high confirming what we saw last week it was a little bit of revert. financials had started off in the lead and then it was just piling right back into this large tech names >> materials, staples, technology all up more than 1%

there goes the bell. it is nicely ton 26th of january. a record all time close for the dow and for the s&p. big gains for the nasdaq as well it does it for the first hour of the closing bell some record closes back to you. sheer how we are finishing up the day on wall street we have a record close for the dow and record finish for the s & p 500 as well. first time we have seen that since august first time we have seen the dow hit a record close since back in

january. not too shabby the nasdaq making a full percent. micron, we'll bring you results as soon as they are out. despite the record highs names like ibm, goldman sachs are in production territory should you be a buyer? that story is coming up. let's talk about this record breaking die breaking day on wall street.

today wasn't the case where you had three quartersover all stocks up. it didn't seem like it was kind of a technical adjustment. it was a real breakout we'll see if it was the start of anything markets have pushed ahead. >> i think this week is about yields inches higher it has been something that's been kind of a surprise and also

the dollar working its way lower. so you have had a real risk this week in terms of value outperforming. it is back to kind of risk on. i think what's really clear though is that the august and september economic data is showing real improvement from the lull we saw from may until july i mean you look at the architectural billings it reaccelerated. initial claims since 1969. the economy is doing well and rates should rise. so rates are rising for the right reason people feel more confident >> it really feels like investors are teeing off the fact that confidence has not been shaken by the trade brawl >> it has always been the eye of the beholder it was always about kind of fearing some hypothetical down the road that might in fact hurt corporate profits, something like that. it was never about what was

actually happening i do think it's mostly a sentiment story. it was about the what-ifs if it flared up into a trade war i think it was an excuse for people to get defensive. nothing really has changed the higher we go the more susceptible you become to some headline out there like the president adding $267 billion in chinese goods. so it's not necessarily a matter of declaration by the market that something is settled and solved it's much more about more good offsetting the risks than anythingelse

it's nice to see this rotation back and it's not they are leaving these other sectors behind they are just under performing on a relative basis if this continues it's a big if. i think you can see a nice rally because earnings are going to be very supportive. >> and when you're talking about a booming stock market and booming economy you always come back to the question is the fed going to have to keep raising interest rates steadily? are they going to go too far >> the same dynamics, if they got too expensive and you had a sort of a gut check excuse it

would probably play out probably from higher levels both in stocks and yields potentially in the early part of next year. i think it made its peace with december hike. you better start seeing longer term yields keep going occupy. it is saying that the economy can handle what the fed has to get down >> not worry so much about a recession. >> john has the numbers >> it is better than $3.34 that micron was expected to deliver gross margins, they had given a range of 59 to 72%

it came in at 61%. micron announced in the vice president of sales have been corporate vp sales, former jb mannier and we have the ceo who will be there tomorrow, guys >> thanks very much. you don't want to miss that interview to discuss the results. also i guess it's a decent week. it's not a big reaction having pulled back significantly. >> i would say far stock like micron it is kind of standard. it is a very jumpy stock it kind of goes in these streaks. i don't know if it is maybe a relief >> it is a relief. it is down 23% since last quarter. trades at 3.6 times earnings

knob has confidence if it's that cheap but i think the problem is prices are still going down. it will be hard for stocks to outperform. >> it is important you point it out. there is a real die vvergence it is other players that are in the group. >> that's right. >> let's get to a news alert on

texas instrew texas instruments. >> raising quarterly dividend by 24% and authorizing a $12 billion share buy back texas texas instruments are higher back other to you. >> thank you investors rewarding that one >> yeah. it's pretty significant at that size of a buy back you know, 12 is -- you know, over 10% of the market cap i'm not sure if that -- it's among the semis. it is a yield story a little bit. it yields 2.25 right now >> sort of brings up a broader question of technology.

we had a pull back yesterday in technology those stocks are the ones you want to pick at. at the same time i think fang is getting unloved at this point too. i think secular -- >> you're buying facebook because it's cheap >> i kept it at 160 it is very attractive i think. >> what did you make of it?

the evaluation is so difficult so you pick your spots in terms of where you buy more but i think you really do want to play that story in particular because they are now focusing much more on profit blt and then you'll be able to get your hands around at some point at least the profit blt are moving >> we have breaking news it is just crossed the wires on adob eri adobe. >> yeah. we reported that adobe was closing in on buying marq you recollect -- they will stay with the company. this is the largest acquisition for adobe ever it is new about $830 billion market gap company

one against being acquired >> does it say anything about the industry is it a place to continue to look for acquisitions? >> can you tell us anything about the rational >> it is a bit of a bizarre acquisition. adobe has done well. there's no questions there that broadly speaking this is a hot

industry and likely we will see more acquisitions to come here. >> that's how well adobe's stock has been >> you expect more in this case? >> yeah. i mean i think so.

that's lot of companies out there. a lot of small private companies at this conference last week a lot of these are all looking to expand the evaluations aren't really that attractive here a couple of bad days i think that's where you want to be >> looks like it will be at 2:00 p.m. specific time conference call so about an hour or less than that. we have a news alert on american airlines >> getting ready to pay more if you're checking bags on an american airlines flight $30 for the first checked bag and 40 for the second checked bag. we predicted others would fall in line and that's what we are seeing with american which is

raising bag fees matching what others are doing $30 for the first checked and 40 for the second one >> so who has done this already? we have seen it from -- >> starting with jet blue about a week and a half ago. delta made the announcement yesterday. so jet blue about a week and a half ago, united, delta yesterday, american these guys can do this because the demand is so strong right now it is highly unlikely that anybody is going to say i'm i'm not going to fly you anymore because of the checked bag fees. there's so much strong demand out there. >> is this a big revenue driver for them >> yes it is a revenue driver think of it as another way of raising fares. they don't want to say ticket

prices are going up. they are raising fees. it is a big driver for all of the airlines >> good to have you here explaining it. it's a bummer for consumers. >> it is great for the airlines as capacity is not going up. they have pricing power. capacity is not going up if you go back in history and see when you want to own the stocks seasonally it starts october through november it is almost like clock work >> you going to buy them >> i own southwest >> are they going to raise their fees >> probably. >> and it would be a nice revenue. >> yes >> thanks for joining us stocks hit record highs today. coming up we'll discuss whether this market will keep rallying, which stocks actually look like value in this environment. >> amazon unveiling several new features, device features with alexa voice technology including

a micro wawave find out whether it will help find out whether it will help the stocks continue to soar.advr in an etf? i tell clients, etfs can follow an index, but which ones target your goals? it's not about quantity. it's about quality. no trendy stuff. i want etfs backed by research. is it built for the long-term? my reputation depends on it. flexshares etfs are designed and managed around investor objectives. so you can advise with confidence. before investing, consider the fund's investment objectives, risks, charges and expenses. go to flexshares.com for a prospectus containing this information. read it carefully.

welcome back fbl we had record highs. faz dak was up over 1% but not a record close >> home depot and chevron. we have an earnings alert on united natural foods courtney has those numbers >> for the second quarter united natural foods missing on the top and bottom line for earnings earnings missing by 9 cents coming in at 76 cents adjusted revenue lighter than expected at 2.59 billion

wall street effecting. earnings guidance is in line and the revenue guidance is quite strong they note higher straight and they note they are on track to close the super value acquisition in the fourth quarter. back over to you >> okay. thanks very much for that now. amazon holding a surprise event. launching a number of new products and services including a new and alexa powered micro wa microwave you can order popcorn from directly. joining us now from gva research what's the stand out foryou

here we are pretty excited about this today although we don't think it was as big of a piece of news as the update in the last few days about them growing corner markets sba their amazon go piece which i would be happy to discuss a little bit later with your next question. >> okay. we'll get there. thank you for that let's talk about the gadgets and the power of alexa, where it stands relative to competitors and how it helps feed into the amazon machine >> yeah, the most important thing is what they are able to do around the artificial intelligence power we are starting to see alexa start act like recommendation,

get to anticipate their thoughts it will be with respect to alexa in each individual household consider that and what kind of power it will represent in terms of driving purchases towards amazon the fact that they weren't moving the price points on their echo dot from $50 basically says you'll have this as a major gift category in the upcoming christmas shopping season. earnly other companies haven't been shy about raising price points amazon is holding price firm and focusing on getting market share as we move into the battle of the living room and home as a

whole. we think they are make tg right decision there the cash flow allows them to continue on different paths and try new things one of the things we lu is that they are integrating and going after verticals where the opportunity for them and other competitors is in the trillions of dollars whether it be online retail sales, food, pushing heavily into online marketing where they have 41% of online marketing. we think it's a really big piece

for them and we see others for them to go into globally like health care. >> when we consider some of these product launches today, some of the stories this week and other areas there is a lot there. it was a citi group note earlier this week that suggests there should be a stock flisplit. what do you make of that >> it might be something they might do i don't think the company is sense tifr sensitive to that. it allows people to buy fractional shares of amazon. i think the thing to focus on here for the company is what they are doing to continue great ir amountsover customer data earlier today might have been intell inside driving the market higher but amazon is going to capture everything around your

life in a networkov of touch points >> thank you >> thank you the dow closing at a record high but nearly a third of the blue chip index is still in correction territory or worse. >> tariffs creating a lot of trouble in thailand, how high costs are spiking and toy makers will pass along prices ahead of the holiday shopping season. we are back in a couple of minutes. ♪

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let's put smart to work. >> earnings and re knew. the company says they are benefitting from some of their good prices which is helping to offset cost inflation they are seeing shares are higher by more than 12%. back over to you >> all right

thank you. it has been a tough year for the toy makers toys 'r' us going out of business and now tariffs are also taking a toll ton industry. we are in pennsylvania with a look at how costs are spiking for at least one company >> we are inside crazy pud di world. this is where they make, you guessed it, putty. it is sort of a pinky orange they aall of the materials are indeed sourced here in the u.s it is a small business but the owner says it is still getting caught in the cross hairs of the global trade war >> it's a global market that prices really the same everywhere it is in the a place where it is cheaper in china and more expensive in the united states it will add constriction to the supply the move around the prices are going up. >> the steel tariffs have

already cost this company six figures so far this year that's because the metal tins are getting more expensive silicone is the main ingredient in putty it is also speaking because of a tariff the colorings they give, those are on the most recent list of tariffs just released. the toy industry is worried more main is coming down the pike if president trump makes good to tax all of chinese imports they say it could cost 68,000 jobs and $3 billion in lost wages. that is a serious spill-overeffect >> we are obsessed with the hot pink >> how many colors have we seen today? >> we have seen two colors but there are many more including

one called dinosaur poop my kids will like that one >> how much do they have do they take the hit and are they able to do that in this kind of environment? >> not a lot of pricing power in the short term the companies already locked in pricing for next holiday season. they will have to eat the cost at least for now maybe things will change in 2020 wl see where we are at >> eat the cost don't eat the play doe >> putty >> play d pl pl playdoh is similar >> it looks nice to touch and play with. >> very nice for letting me reach your hand in there >> let's take a look at how we finish today on wall street. it was a record breaking day

essentially we closed a percent higher dow and s&p with record highs. the last one was january so a long time coming record high for the s&p before today was august no record high for the nasdaq. here are some of the other big stories that got us there in our rapid recap >> the s&p on track to open at a record high. dimon sitting down with an exclusive interview. >> i call it a strad skirmish. >> is it still a skirmish? >> yes our president is right to raise

issues >> the big question now, how high can they really fly >> the dow near 27,000 and the s&p an all time high i think we could have a long kind of sideways period. >> amazon announcing a slew of new products include ago microwave. >> it has deeply integrated alexa into it. >> it because historic one we have a record close for the dow and a record finish for the s & p 500 as well. >> the dow was in the cross hairs during the whole trade

concerns sue herrera has a news update. >> i do. police investigating a shooting near a charter school in the san fernando valley. it occurred at a jack in the box fast food restaurant across the street from the campus of the champs charter school. at least two victims have been transport today the hospital in unknown conditions police are looking for two male suspects the suspect was a 26-year-old temporary worker a handgun was used and no shots

were fired by responding law enforcement officers israeli prime minister says he expressed his sorrow to putin after 15 crew members were killed when the ground fire downed a russian plane russia accusing of ir responsibility the fda considering fast tracking the review process for e hfr cigarettes that include features that would make it less likely to be used by teenagers fda commissioners announced a historic crackdown last week after data shows teen use had reached epidemic levels. you're up to date. i kind of feel like the grim reaper of the news room. the news has been very negative today. >> lest certaint's certainly ho. >> up next we'll dig deeper into today's record rally to find out whether you should be buying

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joining us now as part of our play book is charlie and chris do you go with the momentum or look to play catch up with some of the losers >> we would per pre fer you names that aren't in the index at all the best strategy has been the

orphans are outside the index. it can't be own bid the dow or s&p. those are great performers that are still cheap. >> again, so far the lesson of this year and recent years has been to keep tracing the momentum change. is that start to go change >> i believe it is it is a leader now in enterprise cloud and the legacy businesses which have five years of no growth that's all faded into the background i think there's real opportunity. people forget ibm is the same thing. they married and they are getting a three way separation and i think you wait and take a

look at those parts and pounce on the ones you like the best. >> just as a general principal if you're looking at how it will evolve over time these ideas that you want to go with, stuff that hasn't worked very well, can they improve on the fly as the market remains kind of advancing? it takes something like a serious correction to have that kind of a handoff take place >> good point. i think one thing that can help make that happen is higher interest rates clearly a lot of stocks that have been left behind are more value oriented and higher interest rates will be bad for growth stocks. by definition they are farther away in the future these are earning a lot of money today. a high interest rate will be better names like goldman sachs do better it has ban bad place to be so we would pick out goldman as

very well siftuated >> we heard about ibm. >> i think the dow verizon makes a an awful lot of sense to me. again, cheap stock >> okay. thanks very much >> thank you >> thanks. >> they are gaining traction we'll discuss that coming up >> first, wellness, one of the hottest trends right now super model elle macpherson talks about how she is her ageing looks that's coming up next.

you know, i used to be good at this. then you turn 40 and everything goes. tell me about it. you know, it's made me think, i'm closer to my retirement days than i am my college days. hm. i'm thinking... will i have enough? should i change something? well, you're asking the right questions. i just want to know, am i gonna be okay? i know people who specialize in "am i going to be okay." i like that. you may need glasses though. yeah. schedule a complimentary goal planning session today with td ameritrade. ...you never got the brakes looked at?

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store in manhattan they move into a global wellness industry joining us here is elle macpherson welcome. >> thank you >> let's talk about the company that was founded in 2014 remind us exactly what it is and what some of these products are. >> it is a wellness brand. we make a multi-vitamin and plant based products you put in water or in your juice or in a smoothie so we are basically a wellness brand. >> is there a weight thing, a strength thing, healthiness thing? >> no. it's a nourishment people report weight loss when they take the products they report feeling more energized. the skin gets better and hair gets better. we will bridge the gap between being a wellness brand and beauty brand that is where it is at the

moment >> how involved are you in the business >> i'm a shareholder in the business we have a wonderful team of scientists and people that are very good at what they do. i do what i do chrks , which ise and look at new areas we can expand in our business in the market >> showing pictures of the store. why a physical location? is it supposed to be an experience to be there >> that's a very good question we have an 80/20 business model. it is important that we have some physical contact with our customers. we felt we had 50% of our population or 50% of our customers were american. so it seemed normal we would open the flag ship store in new york it is actually a great opportunity for our customers to get an experience. >> we talked quite offense about the impact celebrities can have.

we talked about the add vert for nike and what the jenners were doing. was it to endorse something that was existing why now for your own brand it is partnering with a big kpigsing brand >> it is not a celebrity endorsement. it is born from personal experience when i had the understanding of the -- when i had seen the effect good nutrition could have on your sense of well being i wanted to share it with other people i decided that we would start a business to share this concept we are cofounders. it is built from personal experience >> how is business doing >> you know, we need to talk numbers. i am really happy we are opening tomorrow in new york city. tell me how you feel >> i have to say anything someone normally gives to me i

don't typically like delicious. >> you have super greens, super elixir in this with some fruit and vegetables we have protein powders, tea it's a great mix >> we decided to take to look a some of the gentleman would look like if they started on wellness, the producers and i we have thanks to a fancy app wilfred if you don't take care of yourself this is what you'll look like. >> that's actually rather dashing. >> i won is a no. >> mike santelli. >> when he is my age. >> when i'm mike's age. >> looks like one of the who will wean costumes mike we have you too if you don't take care of yourself that's the roll. >> i think -- i think he looks dashing as well. >> that's an actual photo. >> i think you both look great. >> thanks. >> we do. >> i tell you it better on television than on the. >> i like it. >> computer. >> i'm starting to drink more of this because it tastes good but

if it keeps me -- if it helps me get to that picture that's fine by me. >> you are partnering with safora >> open in safora in october that's exciting for us we're on crosby and broom here in new york city and then we saporo. >> great to be here thank you. >> thank you for being on the "closing bell." >> bringing wellness smooths the gig economy is transforming the auto leasing model we tell you how next. >> the man on called the record rally will reveal when he sees for markets. we're back othn e "closing bell" in a couple minutes. don't go anywhere.

move over, beauty boxes and meal kits. autos are the latest thing people can get a subscription to phil has the details >> this has been going on for a couple of years. but we are seeing it expand. as i mentioned we have seen a number of auto makers now offering trial programs. mainly on the higher end models where it's 1500 or $2,000 to rent a particular model. shorter term month-to-month leases are catching on fire lab because you have firms like fare what is fare it's a used car monthly subscription program and there are people who are saying this meets my needs perfectly. a good example, melissa andre, an event planner living in los angeles. why does she like this service she is often on projects out of town for several months at a time so she can turn her car back in doesn't have to worry about parking or paying for it when

not use going. in her mind this offers the flexibility she needs. >> for me is kind of makes sense to be able to move for a chunk of time and not worry about giving my car back or finding a home for it. >> you look at the auto dealer stocks if you will over the last several months keep in mind that the flexibility is what really is driving appeal for the monthly subscriptions. guys on average, they believe that at fair that most people are paying maybe $400 to $500 to subscribe to a particular vehicle. roughly in line with what it would be for a lease to buy a car. but theirs is all in one. you have insurance and some of the other services that are part of that deal it will be interesting to see as fair grows if we see the established auto makers do more with month-to-month subscriptions. >> interesting trend phil, thank you. phil lebeau, the microphone

earnings call is getting under way. we get a cck ohen the stock and president headlines so far next when my hot water heater failed it rocked our world. we called usaa. and they greeted me as they always do. sergeant baker, how are you? they took care of everything a to z. having insurance is something everyone needs, but having usaa- now that's a privilege.

welcome become let's check on the headlines making news. micron shares higher after the

chip maker reported higher than expected profit and revenue estimates. it was higher now flat. >> texas instruments popping after the company announced a $12 billion share buyback plan hiked dividend by 24%. up 1.6%. and united national foods plunging after missing the earnings estimates down almost 11%. what stands out as we look at tomorrow and the record run see it continues. >> treasury yields stopped going up after today and i wonder if we are getting up the levels. bank stocks closed off the highs again. foam is the test of whether there is willingness to have momentum into the weekend when we know the fed tightens next week and have to potentially reassess but overall, i think it obviously points in the right direction. >> the other thing is continued after hours is the dollar weakness. >> yes. >> sterling, euro, full% higher all through today. extraordinary. >> a lot of talk of how much a

crowded trade on the dollar. maybe that's an unwind and more of a lift in risk sentiment in general perhaps. >> well record closes. we had on both the dow on the s&p for the do you, the first time since january, for the snch the first time since august. >> see if the run continues process that does it for "closing bell." >> "fast money" begins now. ♪ moneyy ♪ you hear the music and raging bull you know what that means. the dow hitting a record high for the first time since january 26 joining the snpd 50 oh appear nasdaq both at all-time highs as well you might be getting tired of winning, the record close for the dow making it et 100th since president trump was elected two years ago. with the rally in full gear and stocks at record highs where the best place to put fresh money to work right now pete. >> base on her what we see happening in the 10-year and the steady move up, the move