this is ly nicely business sue herera. marking milestones. two straight record closes for the nasdaq. the dow and s&p 500 hovering near all time highs and there may be to come. consumers gave their credit cards a rest and thac gro may not pick up as much hoped. some home prices soar in silicon valley even those with high powered jobs can't afford to stay. those stories and many "nigh good evening, everyone and welcome. what a week. and what a six months. yesterday, we saw all three major indexes settle at new

highs on the same day. something that hasn't happened since 1999. it was the ninth record close for the s&p this year. the eighth for the dow and that's something that would have seemed almost impossible this year got off to their worst start ever. despite the small move, stocks remain near all time thighs. the doo 18,576. nasdaq added four and s&p 500 dropped one and for the week, all the major indexes eked out smal the small moves fool you. our next guest says therrewardi. paul, you've been a lifelong bull. has anything you've seen lately changed your point of view? >> absolutely noe brexit low in

early july, just added more confirmatie february bottom. that this bull u market has been rejuvenated. 2014 and '15 were pause years, but this is a brand-new refreshed, recharged bull market and as i've been saying since 2010, it's not going to end until we get to a minimum of dow 20,000. probably in the first quarter of 2017. >> now, there are those out me merging marxes and some developed countries that could put a haltadvanc yo disagree that. >> yes, sue, a lot of the issues that the bears have been hung their hats on has been issues for 2014 and '15 and '16. the markets have a great way of digesting and price ng the known issues, so most of this is all priced in. the election we need to worry

about is not nov 2016. the election we need td germany 2017. the markets pricing in hillary clinton as president. i think it's 70% likelihood today, but even if trump got back to the margin of error, i think all you're g pullba that recharge the market. i don't so say some really crazy, horrific event in this country. the market's long and strong and i think people should be continuing to invest in it now. >> our bob pisani has been remarking in recent days about the rotation within sectors and within stocks and certainly, .e've so, it's not all concentrated in one sector. do you see it that way? >> i think i agree with bob. you've had the defensive, leading the staples leading.

that was concerning to the bears all along and the bears were wrong. now since brexit, you've got leading the market.ia while it may be a little too far too fast, it's not something i'd worry about. i ha talked about banks since 2006 and energy is rejuvenated itself, so you've got this strong rally. typically, it does not disapate overnight. things are pretty good. bears, come on in. the water's warm. have a great weekend. well, one of the reasons though that stocks were a bit lower today was because of the disappointing retail sales report. americans cut back on spending last month, potentially tempering exp peckations that

over may pick up. steve liesmand june, consumers credit cards a rest in july. the government's retail sales report showed spending was flat after an upwardly re0.8% in june. the concern about whether this spending pause ways. sales fell across the broad swath of categories for a month declines along with grocery stores and restaurants. gasoline stations fell a sharp 2.7%, but that was mostly the result of price declines. in fact, some wondered if part some industries.ame from prices retail sal adjusted for inflation. online retailers bunked the trend and saw sales increase. consumer spending in the second quarter while business investment and government spending fell. that led to just 1.2% in overall

growth. now, it's not unusual for a strong spending month to be followed by a soft one, but if spending stays flat in august, there would be concerns the economy might not grow or that it's entering recession. so far, marquee retailers have reported better sales. earnings for target and walmart is going to be watched closely for next week. the fed's going to be watching, too. saw consumer spending for caution in raising rates. >> the prices paid by business sz fell in july. and producer price index dropped .4% fr earlier. th the largest one-month decline in nearly a year. prices have been picking up over the past few month, but a decline in energy prices weighed on the index. >> and o domestic crude was up 2% settling at a three-week high. one day after the international energy agency said world production. and as we reported last night,

saudi arabia is also playing a role in crude's cent rally. jackie deangeles reports. >> prices are climbing on hopes that the world's largest oil producers . so analysts are saying there's a $2 trillion reason w this time maybe different. that reason is the sovereign wealth fund, saudi arabia wants to the kingdom's deputy crown prince has talked about taking the state oil company public to raise capital. while an ipo isn't expected until next year or 2018, oil in the 30s isn't helpful when a freeze would in theory, increase prices and be more supportive of a deal. >> we're talking $2 trillion. there's a lot of money on the line. so if you look at it from this angle, if they get a freeze in place and they are at record

production, you multiply the record pe higher increase and the possibly raising even tril. >> a freeze hasn't happened so far becaagreed. th iranian are ramping production and don't want to stop. in a game that's all about market hair, the sau up. but oil price fluctuations in the last two years have been a result of supply demand economics. specif and not enough global demand to meet it. total opec production is down helping to rebalance. but according to the monthly bulletin, the cartel is pumping a million barrels a day more s crucial right now. the opec talks are expected the n energy conference in algeria in septemben >> stocks tend to get a lift

overall when oil prices do rise, but this yea and it is turning wall street's conventional wisdom, some of those cliche, upside down. bob pisani takes a look at reasons why. >>e inquired while the old stops don't seem to be working. as goes january, so goes the year, but the s&7%. the s&p is up nearly 6% since the end of april and august is up fractionally. th sti early. now, what's going on? there's another majo here. presiden outside influence on the market and when you la in a pre manner. for example, the last seven months of election years have been strong, which is two losing streaks out of 16 elections since 1952. what about august being the weakest month?

august has been the weakest month since 1987, it opposite in presidential election years. it's the fourth best month for the s&p according to jed hish, stock traders almanac. this may hav post convention bounce. it's not that simple. the correct rule is don't sell in may in the third and fourth year of the presidential election cycle. that's how important it is. what about as goes january, so goes the year. n of this rule is that since 1950 has re in a new or extended bear market, ft market or a 0% correction. one of those three. he said that january barometer did work with the correction that follo i'm bob pisani at new d p nominee hillary clinton and her running mate have leased their tax returns and the move was

e same.d to ratchet up to good to see you, john. what did mrs. clinton's returns show and what were her sources of income? >> well, let's talk about the top line numbers. bill and hillary clinton made about $10.5 million in adjusted gross income in 2015. that's less than half of what they made in the year before and that's because she stopped making speeches and bill stopped making speeches once she became a candidate. they paid an effective federal tax rate of about 34.2%. gave 9. % of income to charity. almo of that was $1 million foundation to the of income, $5 million was bill clinton speech making income. $1.6 million was his consulting income. she made $3 million as an author, 1.4 million on speeches before calling it quits and becoming runni mate also

released his. what did we learn other than he does not make anywhere near the money the clintons do? >> tim kaine is one of the least wealthy members of the united states senate. he and his wife, ann, had an income in 2015 of $313,000. they paid an effective tax rate of about 20.3% and over the ten ye said that they had paid about 7.5% of their income in d tat top, all of this was about trying to put pressure on donald trump to release his. we know he's worth $10 principle. he claims to be. we know that in some past years, he has had income tax liability at all. and the clinton campaign is trying to put front and center, the questions of how much does feder taxes is he paying? >> i'm sure they'll be talking about

john harwood in washington. still ahead, what happens when a city gets. there are reports that according to the website, the information, lift rejected gm and instead, opted for a new round of funding. gm, which is not commenting, has a minority interest in that and for some, it's too

earlier this week, we told you the median hit $1 million last quarter and that's pritsing people out. adid >> the san francisco bay area is famous for its beautiful scenery and infamous for the price to live in it. just this week, two bay area residents with high powered jobs say skyrocketing housing costs are . san francisco federal credit union's ceo is taking another job in portland in large part because he pays $5 a,000 a month to rent a 1500 square foot home . >> as we looked at it, the money really goes to the city such as portland and we've been challenged here sometng that s affordable. >> he says in portland, he can buy a home three to four times as large for half as much u in mortgage.

he's n 12.5% of bay area residents who moved else where ke downing, a member of palo alto's planning commission, d moving to santa ce $6200 rent of the house they share with another family. zillow reports home values in san francisco are up 8.5% from last year. values are risen year to year. one solution is inkreeing the inventory of homes. but that's touched off a lot of debate currently. there's a a bill in the b homes in their backyards, but that's been met with opposition crowded neighborhoods and park. jc penney reports a smaller than expected loss.

that's where we begin tonight's market focus. strong demand in sephora and footwear helped results. revenue and same store rose, but both came in shy of estimates. the company reiterates its full year guidance. shares higher at 10.55. the department of justice said it is open to receiving settlement offers from anthem rega sigona. last month, regulators sued to block the proposed acquisitions. the trial is set to open in november and conclude by year's end. shares of cinga up, anthem up to 130.19. a taste of communication sent strong demand for its technology products helped to lift results. the compa which makes high speed devices for communication networks topped profit and

revenue more than double in the last qua dick's sporting good said its chief financial officer has accepted down. the retailer's current coo is expected to take on the role until a replacement the found. the shares rose to 54.73. this week's monitor has three picks. chief investment strategist at janning montgomery. did pretty well, p and g, up and eaten, higher by 16%. welcome. still stick wg those t cer two . particularly, eaten an dividend yields. reasonable valuations. i wouldn't necessarily bail out of the proctor and but

trading about 20 times forward earnings and has prospects for changing portfolios projects, but that would be the one i'd be inclined to remove in order to make room for today's three pick. >> let's get right to that. we start with the well sue, that's the space we found recently attractive. several weeks ago, we went long exposure to bio tech stocks rather than trying to pick the best house, we were just trying to get the neighborhood right, so we came at it through the eff th stocks. health care has strong demographic underpinnings, but there's increases m an a activity in the space. a lot ofr reach out and ignite through acquisition and we think that space ought to be able to prosper. it did well last year. got slaughtered and now,

reasonable valuation, so i think the prospects are good. zpl your next big is a small cap in redmond washington. >> perhaps your viewers have heard of it. microsoft. sitting on bundles of cash. a company that's growing rather as ly companies continue to outsource their databases, they're looking google microsoft is do tha microsoft trades about 20 t whi when compared to many companies in the tec based counterparts. you get a two on it as you own a cloud based computing company that's doing a good job. >> and cisco rounds out the three. >> here's an iconic technology company, been a favorite for a long time. what we're seeing is

e underinvested in equipment. you mentioned another on today's news are starting to see the benefits of the underinvestment, the telecoms, verizons of the world are trying to repair and restore communication . trading at just 13 tim earnin against a multiple of 17 times. above market dividend yields. >> thank. coming up, the big weekend for sports. and a big hello on one coast and a big good

more big earnings for next week. here's a lk at what to watch. home depot reports quarterlies. wednesda cisco, which we just mentioned, out with earnings and thursday, it's walmart's turn. what the world's largest retarial says about the consumer at what the watch next week. the wait is over. football is finally returni to los angeles. and it could help the nation's second largest m jane wells calls the p >> it's been over 22 years since los angeles ha

and 37 years since the coliseum was decked out in rams colors. but the southe >> never. >> wide receiver kenny brent may not be nervous about the pres lot of other people are. >> pressure on me every single day. but i never in my career looked over my shoulder. k years to achieve with the own finally convincing others to let him bring the rams bac for two other reasons. they could make a lot more money in los angeles and he would privately fina$2.6 billion stadium. meantime, the rams will have to spend three seasons in their old preseason game is sold out and even with over 90,000 seats, they're going

to add seat to accommodate fans. the retail market, averaging $235. up from 125 bucks that is where the rams, seventh in retail value. but coach jeff fisher has yet to produce a winning season. something the rams haven't had in 13 years. this town? >> no. i'm just the head coach. players play and do our best to win games. winning games sells tickets. >> l.a. is ready for some football. wells, los angeles. from football to baseball, where alex rodriguez plays his as a yankees. after more thacade with the team, the gamee signed and bigger controversies. the question now, did the yankees investment in rodriguez

pay off? takes a look. >> a-rod has earned more than any other major leag player in history, was he worth snit. .> h game. showed owners t if you look at the yankees first two se a-rod, their attendance increased 8% each year in 2004 and in 2005. and in 2005, they went over the 4 million mark in attendance. which is an incredible feat. >> but marketability eroded as a suspension for the entire 2014 season. his publicist says his client's image has come a long way from

where it was two years ago. >> fox sports, the game of the . and cleared their fox programming schedule and put this o olympics for the mostt he's such a big player. >>. >> rod: will retire with more than a year left on his contract with the paying out the remaining $27 million. basl franchise, worth an estimated $3.5 billion according to forbes. so what does this strategy yield the team? well, room for new taleent and mentors. tonight's home game is almost sold out, just before sunday's retirement announcement, the average ticket plis was $76. following, the soared 500%. but has since declined with an

average price of $149 a by comparison, the average ticket fek jeter's final game was almost $770. >> before we go, another quick look at how the markets closed this record week on wall street. the dow fell 37 points. nasdaq added four and s&p 500 we made it through. us.'s nig"nightly b sta cool this week. i'm tyler mathisen, y'all stay cool as well. have a great weekend.

gwen: this week's challenge to distinguish between jokes, sarcasm and reality. and to figure out the value of unconventional vs. conventional politics. tonight on "washington week." >> if she gets to pick her judges, nothing you can do, folks. though the second amendment people, maybe there is. i don't know. >> i call president obama and hillary clinton the founders of isis. >> joke? sarcasm? or simply changing the subject? words matter, my friends. and if you are running to be president or you are president of the united states, words can have tremendous consequences. gwen: this was supposed to be the week where the candidates talked about the economy. and they did. i