>> sherwin williams. i think it's a great way to play the housing theme.ut from here. >> mike khouw? >> i like sherwin williams for those of you really benefitted from this strong rally in the tech >> that's right. summer school is in session. jim cramer and kw"mad money "returns month tonight we hear stock trading makes a huge comeback. your niece and nephew, they are making money sports gamblers who lost temporarily found a new one, the great american stock market tonight. we'll guide you through the tempta

>> sherwin williams. i think it's a great way to play the housing theme. out from here. >> mike khouw? >> i like sherwin williams for those of you really benefitted from this strong rally in the tech names, maybe now you could consider hedging by september puts. >> that does it for us summer school is in session. (male announcer) up next, how would you like to get the celebrity secret for ageless skin? (female announcer) find out how in this paid presentation for meaningful beauty. (male announcer) as cindy crawford unveils her newest youth activating breakthrough. (female announcer) and watch what happens when cindy invites grey's anatomy star ellen pompeo to try the evolutionary secret that's kept cindy's skin looking so youthful for so long. when you see the pictures of cindy at age 31 and then now at 52, her skin actually looks more radiant now than it did then.

do you like the story of sherwin williams it williams >> i particularly like this trade for a couple of reasons. first of all, if you look at the underlying stock, not only is housing one of the strongest sectors and one of the brighter spots for q3, but sherwin williams is also part of the material sector, which carter laid out a pretty nice thesis last week for a potential breakout on xlb. you have both xlb and itb about to break out to the upside if you look at the chart of sherwin williams, very constructive chart breaking out above that $600 level, looking like it's consolidating and moving higher. i particularly like mike's trade structure. the debit vertical spread is a very efficient way to take a bullish view here with a very small amount of risk he's only risking 3% of the stock price. you're only risking 3% of the underlying stock price >> mike, i know you're going out to december, but a lot can happen between now and december, particularly during a pandemic i'm wondering, in that time frame, are there certain events that you're looking at thinking, oh, that might be a cat

when you sell your home, buying sherwin williams paint is is a great investment sherwin williams is the stock. and mattell. we had the ceo on last night and he talked about skyrocketing barbie sales big numbers. what i found most interesting wasn't barbie, the numbers were incredible, it's that uno, uno it's now the number one biggest board game in the country! uno! there's like 70 different kinds. hey, we got this on chip, by the way. we got a bunch of things on shift. it is cool it came in an hour i think -- i know people that this is like, what, people have been playing all their lives here it is it suddenly got it here. and i know why, you only need two people to play uno it makes the ideal quarantine past time! this is it this is what you do when you're being quarantined! number four is wayfair yes, wayfair i had my doubts on this online furniture retailer the company was on the ropes going into the pandemic but people need to set up the home offices. in order wants to go to a store when they can order off the web. they went to the 220 regularly making new highs for the session. ex

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sherwin williams stock up 1.6%. the company handily beat second quarter estimates, raised its full year estimates and shw stock as it moves higher to $635.99 a share, pushes its market cap above $56 billion. >>> to virgin galactic's stock. i know charles showed you some of this, but we've got more. 90 minutes ago the space tourism company unveiled its brand new cabin design for its suborbital space planes. the cool interior has portholes, how cute are those for space viewing, padded surfaces so you can float around comfortably, and fancy seats. 600 people signed up for the rocket ride at a quarter of a million a pop. it better be luxe. look at that. very space odyssey. look at that thing. no, i'm not going. i don't know about you. i'm a chicken. >>> back here on earth, we have two outdoor stocks moving in opposite directions at this hour. positive l polaris reported earnings more than double the consensus estimate and their revenue beat as north american retail sales surged. we had the ceo on and he told us they can

. >> on the building on right, i think it says sherwin-williams. chip, if you're hearing me, push into the right of that building there and you can see it. to give you reference, there is the sherman williams paint building which is near south van ness. i am deducing that it's the building behind it. there's a billboard on top of it that you see from the freeway. there are the master streams on the left and right on the very left, where it says 50 miles per hour in the clouds, that is the central freeway. in this area obviously visible. this is really almost the center of san francisco when it comes to the downtown area. visible from almost everywhere. now we know that that building is there and we will get an exact building for you in a moment. >>> now we are hearing that there may be multiple buildings involved here. san francisco fire saying 150 firefighters are on scene. it's a commercial structure so it doesn't look like residential is affected. but flames have spread to several buildings. this fire grew very quickly. it went from two to five a

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sherwin williams putting a good picture in their second earnings report they saw professional demand for diy paint products they even gave a forecast, guys. they think 2020 will be about the same as 2019 dom, not a lot of people can say that shares are up by 61% >> this is a trend that has been in place ever since the covid-19 pandemic began we've talked about zoom video, peloton, netflix, but a lot of folks out there who have tried to use the time to make improvements in their home have been doing so at home depot become the beneficiary it's not just sherwin williams doing good here. look at baer selling paint at home depot ma many products are getting a lot more demand, so if you're able to purchase some of these things and spend the resources, this will be a trend that stays in place especially if people with financial means -- and that's important -- with financial means continue to spend more time at home and develop more resources towards improving. >> this is a real question, seema and robert, for your thoughts when does this trend end you can say i did all the home improvemen

sherwin williams is a benefactor of that trade. charles: that's a name i absolutely love.k ago we did mohawk because once you buy the house, you have to buy carpet. you know, trying to nuance this idea that we're talking about here, but it is absolutely remarkable, and i think it is not going to change for a long time. i do want to talk about the hottest stocks in today's session. these vaccine stocks now, i want to give a shoutout to the trump administration. yesterday 1.6 billion dollars to novavax. they're pumping billions and billions of dollars. they want america to get this vaccine first. they're putting their money where their mouth is. it is not just about finding a vaccine, but getting the money to have the doses ready. moderna up 12 bucks right now. novavax is up 20 bucks. do you chase a name like this? >> i'm kicking myself. i've been in and out of moderna. today i'm out. i kind of took some profits on that last trade. it is a stock i like, though, because if you lookout side of the covid -- look outside of covid vaccine, they have a good pipeline. it could be a

into the household with some of those other secular trends, i would stay in those names. >> sherwin-williams is one that the corner stone really pounded the stable on last week very decisively, jeff mills. would you stick with this home building trade with the fed pumping liquidity into the market keeping interest rates so low, this is a trade that seems like it's got legs. >> yeah, i think it does. and my final trade on friday was dr horton. i think homebuilders as a whole, a specific name like that where you're exposed to the housing sector, he think you do stick with those names. lowe's has been catching up with home depot and making changes in management. i don't know if this is the catalyst that brings us high fwroir thigher, but if you look at tim's suggestion, look for these things and they trade well. >> i bet you've built some nifty things in that backyard of yours. >> lego sets, swing sets, and restoration hardware. restoration hardware was a great story prior to this. obviously, like everything else, it got whacked in march. but look at the move in rh from -- i think it made an al

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certain key stocks like ecolab has broken out sherwin williams is doing it apd and so forth you're goingo get some of the laggards to catch up long on materials because they're a coiled spring but also because they're doing the best if you really want to go into cyclicals and value growth conversation. >> mike, what's the trade based off of these charts? >> certainly carter was just talking about a couple of things that i would actually take a look at. lind which is the largest constituent of this is at all-time highs we have ecolab newmont, a lot of people are playing in the mining space. these are stocks that are all doing remarkably well. a lot of trends when you get to theselevels, the stocks, the top three actually represent 35% of this particular group of stocks and they already have broken out to new highs. karen kind of alluded to this at the tail end of "fast money" when she was talking about the vix. the vix is at historically elevated levels, but when you think about where we've been in just recent history and the fact that we're not through all of the uncertainty that would h

bring color to life with the very best paint only at your sherwin williams store. ♪ good morning, good talking to me? >> that's right. it is great to have you with us on this tuesday morning. tomorrow on "gma" we are celebrating national grilling month with our cookout cook-off and pit michael symon against pati jinich. sounds delicious. oh, yeah. right now it's time for "pop news" with laira spencer. hey, laura! >> hi, good morning, you guys. nice to see everybody. lots to talk about this morning. we begin with baby news from nicki minaj. the 37-year-old rapper taking to instagram on monday sharing the great news. i'm doing it in nicki style, sporting those high heels and a bikini made of swarovski crystals, writing just one word -- #preggers. congratulations to nicki minaj. >>> a slam dunk in sports card history. the rookie basketball card for lebron james. guys it just sold at auction for $1.8 million. a little piece of cardboard, but this cardboard is special. it's from lebron's first year with the cavs during the 2003/2004 season. this is the highest amount ever paid for a basketb

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. >> sherwin williams jumped nearly 5% this week. mike, what are you doing >> yeah.rter i have to say and worked out nicely, too, for us on the options side because it didn't run through that short strike that we have but we got the move we were looking for so i think now that we have it well in the money probably makes sense to take the profits and move on. >> what happens next with the stock, carter? >> that's right. there are two ways to approach a winner if you are there for a specific event, earnings, a specific chart set-up, we were, is it cause this point to maybe move on i think so it was a big week for sherwin and housing stocks in general. rate environment continues to favor this group over many other groups but there will be other plays. i think take the money and run. >> meantime tony said boeing could be in for post earnings turbulence. >> if you look at the relative performance to its sector it is starting to underperform here over the past few weeks so you couple the estimate revisions with the underpoirps we are seeing against the sector and typically

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new voltaren is powerful bring color to life with a gel. the very best paint only at your sherwin williamsso we collaborate ♪ ocean spray works with nature every day to farm in a sustainable way >>> back now with an avalanche of rocks crashing down on this highway in idaho. it started as just a few rocks then became a much more serious situation forcing police to close route 95. no injuries have been reported. >>> an unusual nascar crash to show you. there was a chain reaction crash in indianapolis sunday as drivers were pulling into pit road, and during the chaos one crew member was hit and pinned between two cars. paramedics ran to help him, but he later gave that thumb's up on the stretcher. he is okay. >>> cleveland indians manager terry francona is supporting calls to change the team's name. the club says it will now determine the best path forward. francona says the indians' name goes beyond disrespectful. >> i think it's time to move forward and not just say, hey, i got -- it's a very difficult subject. it's also delicate. >> cleveland adopted the indians name in 1915. they removed

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sherwin williams. a paint company. who could figure out that in a lockdown situation, a paint company would do so well. i missed it. susan: that's okay. a lot more to go to. stuart: you got it. i really want to get to this kodak story. they used to be a film company. lauren, look at the stock, up 232%. they used to be a film company. what are they now? lauren: it is a new kodak moment. they just got a $765 million government contract under the defense production act to help make generic drugs, as the white house looks to speed up production of drug ingredients and reduce our reliance on foreign sources such as china. kodak is going to use their massive manufacturing footprint to produce the raw materials that go into generic drugs, including hydro chloroquine. that's why this stock, this is a lifeline for them. the stock is up 230%. they did file chapter 11 about eight years ago. so they are re-inventing themselves with the help of the government. stuart: they've got a massive manufacturing complex in upstate new york

. >>> our call of the day is sherwin-williams let's go through it. carrie, you own the stock. listen close $734 at credit suisse, $727 at citi, 7 at deutsche. what do you say? >> i love them all i think the stock is going higher you know we talked about this several times. sherwin has turned out to be one of these covid-friendly stocks everyone is at home. they're doing it themselves, and they are painting, renovating, so this has been a great period. the quarter was good we expect 15% growth next year it's not a cheap stock it's 27 times next year's earnings, but it's got a lot of free cash flow the stores themselves are doing well construction has reopened in most of the country, and that's all good for sherwin even the valspar acquisition is going well they have made some very good choices over the past couple years. again, they're operating well in this very tough recessionary environment. yes, we like it. >> you don't worry at all that the favorable trends you just mentioned are peaking? i saw some suggestion today that the whole do it yourself, do it at home, et cetera,

sherwin williams knocking the ball off everybody is painting their house. the home builders are billing it dr horton, great numbers orders were way above expectations then there's the other side, companies saying we are not providing any guidance xerox didn't either. raytheon didn't give any harley davidson was way below expectations mcdonald's were light. they didn't provide guidance either they did try to find an optimistic note. here is the ceo of mcdonald's. he says i believe the second quarter represents the trough in our performance as mcdonald's ha has learned to adjust our operations what is the story with earnings this season. there's really two stories one is the kind of bearish one the reopening is slowing down. we're not sure what's going down it will impact us. that's what xerox said another bullish option said second quarter is the bottom the trend is improving from here that's what the battle is now. >>> the economy has the long road to recovery especially when it comes to unemployment rate. there is some good news. a new cnbc survey shows th

all day strong. new color from sherwin-william.n or order online for curbside pick up, and get 30% off paints and stains, july 2-6. for all your painting needs, ask sherwin-williams. ...crunchy oat clusters with a hotouch of honey...ombine... ...plump, juicy raisins... ...and tasty fiber... ...into one delicious cereal? it took a lot of branstorming. get it? kellogg's raisin bran crunch. two scoops of delicious. ♪ no one else was in the room where it happened the room where it happened the room where it happened ♪ >>> all right, welcome back to "gma." now you can be in the room where it happened. "hamilton" officially streaming on disney plus this morning. it's the number one trend on twitter, and coming up we have star anthony ramos joining us live. cannot wait for that. love him. >> i still haven't seen it. >> now you can. >> exactly. i didn't want to waste the money on my kids. i love them dearly. now we'll watch it at home. >> it's fourth of july. come on. >> looking forward to that. that's all ahead. >>> still ahead, first the

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. >> these are not cheap these are not necessarily what you say are value stocks but sherwin williams is riepgt ighte cross hairs. they are doing great not just because of covid but because of whatever comes next in an aging demographics >> you're talking about growth at a reasonable price. >> thank you >> just people wondering what you might meant by that. >> not dirt cheap. they're not dirt cheap they are growing. >> the only other thing i did is i went back into puts. i've never seen a company where 75% of the outstanding shares are open for sell in terms of the season s1 registration statement. nobody sold them yet that's really disaster insurance. selling calls did nothing for me on those positions except cap my upside didn't take in enough premium. in case something really bad happens over the next few months, i've got the insurance i fully expect to and hope to lose money on those puts but most of the portfolio actually has the puts against them. >> we are going to bounce. when we come back, lam research getting a new street price target today the desk will debate that. it's ou

you're also in sherwin williams. do you want the do it yourself refurnishing or refurbishing >> for us we use free cash flow yield when ever we make a new investment the home builders weren't available as investments but we love this theme. we trimd our home depot position about a month and a half ago it wasn't a statement on we don't love this investment it had just grown so much that it became an oversized position. we trimmed it a bit and are thrilled to see it's going right back to where it was we are very long we think social security a terrific way to play the home builders as well as the broader economy. >> any impact from the expiration from the stimulus benefits on the strength we is seenhousing. the bonus benefit. the mortgage forbearance will run out. are we going to see an impact here >> i think it's twofold. when i think about the positive side, i say, rents are more expensive right now than a lot of mortgages would be assuming that one, people are employed, two they they take the money they are saving a

we had new highs in sherw dwi sherwin-williams and masco tech valuation is an issue and we have wild cards on what stimulus is going to happen and china tensions still not clear what earnings are doing here because a lot of companies are declining to pry guidance guys, back to you. >> so clearly we've had a bit of rotation this week out of tech into value is it surprising that that's happened on a week when we haven't really had the best economic data? you could even argue quite the opposite, and on top of that, the banks ending the week softer in the week they reported, and to that point on the economic outlook, none of the ceos were positive about the economic outlook, and yet the value of the cyclical stocks has been the best performance this week >> i hate to say this, but if you're trying to act rationally, wilf, the market is clearly in the hands of momentum traders right now. you can see what happens in the tech situation i think momentum and relative positioning is actually more important than the fundamental issues which you mentioned and which, by the way, i agree with. so

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with the ford promise. new color from sherwin-william.de pick up, and get 30% off paints and stains, july 2-6. for all your painting needs, ask sherwin-williams. ...to soccer practices... ...and new adventures. you hope the more you give the less they'll miss. but even if your teen was vaccinated against meningitis in the past... they may be missing vaccination for meningitis b. let's help protect them together. because missing menb vaccination could mean missing out on a whole lot more. ask your doctor if your teen is missing meningitis b vaccination. >>> coming up, how did hot dogs become such a >>> coming up, how did hot dogs become such a big part of the fourth of july harry smith heads to coney island, perfect place to find out. >>> also charlie puth live with a special performance of his brands new hit that's after your local news right now, there are over a million walmart associates doing their best to keep our nation going. because despite everything that's changed, one thing hasn't and that's our devotion to you and our communit

more time at home, maybe i should paint the spare room, make it into an office, that's where sherwin williams comes in. you think of the psychology of new highs, everyone who owns stock has profit you don't have overhang supply usually when they break out like that they tend to trend pretty well so i like that on the long side. coke looks horrible, simple as that it might get a tail wind from a weak dollar but why not put your money where the momentum is, going with sherwin. >> i feel you've had dust ups about it in the past sugar water have it if you want to be in it. tim, are you still an investor. >> look, paul rabil is coming on the show later so there will be no yard sales until then with coke you have a case where the rest rauaurant story is very, very difficult story, casual dining, et cetera, coke will struggle until we get more clarity having said that, coke has been a transition for years, this isn't your father's coca-cola. it's certainly not about cash nated soft drinks it's about vitamin water, other drinks, it's about water i think they've refranchised and dealt with the bottler

bring color to life with the very best paint only at your sherwin williams store.the economy to get back on track? you're not alone. and you can help make it happen. stay 6 feet apart. wash your hands. wear a mask every time you leave your home. choose to join the fight against covid-19. do your part. slow the spread. dearand with summer here,these energy bills are rising. together, we can save energy and money... by taking steps to stay cool while using less. keep safe and keep it golden. >>> good morning, everyone. i'm liz kreutz. in the east bay alameda county became the first to exceed 10,000 diagnosed cases. health experts and officials say they're surprised by numbers from the roots community health center showing a steep rise in covid cases among 18 to 50-year-olds. on weekends lake merritt continues to be problematic and this weekend police will be doing traffic and parking enforcement. >>> it is brightenin up out there. check it out in san rafael where we had a low deck of overcast now looking at some sunshine here. 57 in the city, 60 in san jose, and from

down the food chain and go to the whirlpools of the world or the flooring people, you know, sherwin williams >> i like whirlpool. i final there's a lot of pent-up demand and supply chain issues. what is the active adult segment of pulte am i an active adult >> i think you're active active in what way is the question. >> i don't know. but lgoing into covid-19, the stock was on a tear. so when you consider that second quarter growth and you look at the gross margin, i think this is a stock you stay with i actually think pulte is one that continues to run. >>> coming up we break down why options traders are saying it's time to cash inon one payment name save hundreds on your wireless bill without even leaving your house. just keep your phone and switch to xfinity mobile. you can get it by ordering a free sim card online. once you activate, you only have to pay for the data you need, starting at just $15 a month. there are no term contracts, no activation fees, and no credit check on the first two lines. get a $50 prepaid card when you switch. 5g is now included with all new data options. switch

we've seen this with sherwin williams, with restoration hardware there's nothing that has changed in terms of this trend other than the stocks have had a very good run this is a pullback maybe not to buy. housing stocks are going higher. >> all right >> i'm not so certain about that mortgage rates ticked up for the first time in a while here obviously the stocks have traded very well. >> they're still at record lows. >> given that supply and demand dynamic here with mortgage rates ticking up and the stocks acting the way they did i thought the dhi reversal was interesting you may see this thing settle back in towards 60 where it just broke out a few weeks ago. >> let's switch gears here we are following a developing story out of washington. take a look, a live look at capitol hill where the trump administration and lawmakers are debating the next round of stimulus this comes after senate republicans put forward their trillion dollar plan to kayla tausche who just spoke with senate majority leader mitch mcconnell. kayla? >> reporter: melissa, the senate majority leader said it's hard

charles: i love sherwin-williams. two vaccine names up 3,000%.ne is up 2300% but everyone is focused today on moderna. they have had some issues. there was a patent issue last week that kind of knocked them down. also insiders have been selling stock. this is a name many people believe they might be the one, if they do win this race or they're a big player, this stock, could it have much more upside potential? >> it definitely has more upside potential. they're entering the phase three trial. that is the next phase before any massive approval of vaccine. i think it is important when you look at the vaccine stocks to think about a portfolio. the u.s. government is doing the same thing. they're making a bet on a bunch of portfolios. look at moderna, pfizer, gilead. these are the three. astrazeneca and j&j is the fifth. put five of those together in a portfolio, one of those five will do very well and maybe three of those five will do very well based on what we're hag on the ground. charles: courtney this, week what will determine the outcome on fri

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tough because like you said, everyone has played -- we talked about toll brothers, talked about sherwin williamsing for some way to capture on this trend. pools, another way. one thing we are looking at, we are trying to find something even buried more. sonos. people are looking at these new homes, they want smart homes. look at different ways to play it. it's a great stock with a lot of upside. charles: okay. i love when you give us great stock ideas, rob. you are one of the best, my friend. have a great weekend. we appreciate it. now over to jackie deangelis filling in for liz claman. jackie: thank you so much, charles. happy friday, everyone. breaking news, at any minute we are expecting president trump to deliver remarks at the white house about lowering drug prices. the president is scheduled to make an announcement and sign an executive order in the south court auditorium. as soon as the president speaks we will take you there live. we do have the pictures of the white house up right now. >>> meanwhile, we are watching the markets closely because they are wrapping up the week to the down s

horton, sherwin-williams, polaris soaring after they reported results surpassing wall street expectations. it is thanks to overwhelming amount of people looking at home, redecorating, painting, when they go out they want to get on the snowmobile or something. i want to bring in money map chief investment strategist, shah ghailani, divine capital, dani hughes. and payne company tall's ryan payne, i'm not affiliated with. people are leaving so much implications there. pools gone up. everyone building a pool. it is in the stocks. do you think it will last? if so, what are names that continue to move up? >> i think a lot of good news has been baked into these stocks. you can see the analysts can't seem to get it right. they didn't anticipate that consumers will be buying as much as they're buying. i love of the trend, charles. i love the fact that americans love to spend. no matter what happens, pandemic or not, we figure out a way to spend money. i think that was one of the things a lot of economists were discount something our ability to want to spend right now. so you know, i do think, i d

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home depot, lowe's, sherwin williams moving to new high ground. lithium motors in new cars.arket is broadening out quietly. that is fine by me. that augers well going forward. we will get pullbacks and scare days but so far all pullbacks have been nominal, short-lived. until that changes i think you go along with what you're seeing. charles: kathryn on september, june 8th, june 9th, the s&p had 191 winners. they pulled back. we have yet to get back there. to gary's point, stealth broadening of rally is 2018 great. doesn't look, is that sort of what you think is going on here? what does it mean for the rally going forward? >> yeah, broadening out of the market is a positive sign. face facts, there are five stocks, big five tech stocks that have taken the markets higher exclusively because of those five names since 2017 and my concern, charles, something we haven't discussed yet, july 27th, some ceos from some of the top big tech names appearing on capitol hill. we're in an election year with a very possible chance of a change in power to the democratic side. so what will that

. >> we're watching sherwin-williams results crossing the tape beating both the top and bottom lines handily. this is one of the names that has been a monster stock, greg, benefitting from this sort of trend of restoring your home you notice that you need a coat of paint in your study, you buy some paint and you paint it. we're seeing that time and time again. >> right >> do you like this sort of trade? >> well, i'm going to harken back to the stay-at-home more generally and if you don't mind shift a little bit back to tech. not all tech is create the equal. there are particular subsectors that have benefitted when you look at the internet retailers the relative outperformance has been about 58%. this is probably well deserved the internet retail space is expecting earnings growth of around 300% next year but as we start to look at calendar year 2021, it's going to be a really tricky situation consensus is expecting many tech names outside of the internet retailers to be about 15% but the broader market is expected to be around 35% as we see some of these depressed sectors start thei

well we've been looking at google maps to see what's in the area and we do see that there's a sherwin-williams paint store there's a grocery store and office max. all in that general area, but it's still too soon to know exactly where the center of that fire is we started noticing. the smoke coming from one of our caltrans cameras at around 7 o'clock this morning and this fire just quickly. >>spread to a 5 alarms we still don't know exactly what's on fire. marty but i'm looking at the smoke and looking at the flames and i just wouldn't be surprised if this fire spread to more than one building yes, because it's still largely look at that shot, yeah it is huge and it's having a huge impact on traffic as well we mention that it's burning next to the central freeway they've been running traffic brakes on the central freeway holding back traffic. but for people on the james lick they can see it's a one oh one north is all jammed up right the bay bridge marty is jammed up into san francisco on 80 west because people can see that smoke from there as well, yes, so just a warning out there to just be

sherwin-williams come etc.. there are other areas where you are seeing consumers spending money.reas peoplee are need to be looking at. from a consumer perspective, we think there are other areas people could invest in. wax -- >> diy. i saw that a lot in america. in.le putting pools we see americans taking advantage of the low mortgage rates. one part of the data in the u.s. has been right is the housing market. should people be putting more money into real estate? housing,ms of u.s. activity has been stronger than we have expected. we have seen a rebound in home sales. there is a lot of pent up demand and supply remains limited. low mortgage rates, almost as low as 3%. that is certainly helping. you are also seeing structural shifts as people look to suburban areas, larger houses. we think arrange of people can benefit from this. home depot, some of the u.s. house builders have been doing well. there is a wide range of companies that can benefit from this housing activity you are seeing right now. i was thinking last night about the european equivalent to the companies that kill