i'm bill griffin here at cnbc headquarters. >> i'm kelly evans in today for maria.re in the green again but bill, the big question is why. >> indeed. strong economic data this morning. 2.5% gdp in the second quarter. better than many expected. news is cred good news by investors for once instead of worrying about fed taper

if you have a question, send us a tweet at cnbc options. we'll answer it in our web extra. tonight we'll look at macy's and you'll find great trader blogs and educational material. this is what's coming up next. ♪ everybody dance now ♪ >> maybe you shouldn't sweat the small stuff. brian thought small caps were about to plunge, but they've hardly moved at all. how can he save his bearish trade? plus, don't bother googling it because we're the only ones who know the secret google buy sign. what is it? we'll reveal when "options action" returns. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade. if you have high cholesterol, here's some information that may be worth looking into. in a clinical trial versus lipitor, crestor got more high-risk patients' bad cholesterol to a goal of under 100. getting to goal is important, especially

bertha coombs live at cnbc headquarters. a look at how the futures are trading.ood wednesday morning. >> good wednesday morn to-ing you. futures trading lower, stocks falling yesterday on comments from fed officials who say the central bank cut trim purchases of treasury bonds next month. some folks thought they'd put it off after the jobs number. that policy helped keep interest rates low. we'll be getting data on consumer credit and earnings. out from time warner, look good. disney's earnings disappointing. the lone ranger was a lone ranger at the box office. they'll take a charge for that. dow dropping 93 points. the nasdaq ending its five-day winning streak, losing 27. yahoo! getting a new look. new logo in nearly two decades coming next month. over the next 30 days it's going to showcase 30 different logos on the home page. september 4th, they'll tell us one that is going to stick to replace the purple logo. yahoo! has chosen which it will be. the company wants to display the new look, all of the different looks, as part of its renaissance under marisa meyer

seema mody live at cnbc world headquarters with a look at that and how futures are trading. >> u.s. authorities are reportedly considering the arrest of two former jpmorgan employees for their alleged role in hiding the massive loss last year. the losses have topped $6 billion. reports say is the u.s. is seeking to expedite the two men from london. futures are lower, laura, as the markets come down a down week with the dow snapping a six-week winning streak. there will be data this week on retail sales, inflation, manufacturing, housing and the consumers have a busy week, the dow falling 72 points. the nasdaq losing nine. >>> the new iphone is coming. apple will unveil the next version at a special event on september 10th. the new iphone would hit stores in time for the holiday shopping season. earlier this summer reports said apple was personalitying with larger screens, running the new ios 7 software which the company began testing in june. >> waiting for the larger screens. >> that will fill up my stock fg that happens. >>> 4:46. christina loren is back with us to talk about our

seema mody live at cnbc world headquarters is here to talk about that plus a look at how futures are trading. >> good morning. let's start with that stock chart. shares of sysco in focus while profits in the most recent quarter rose on increased demand for its products, the san jose-based company is being cautious. ceo john chambers says they're cutting 5% of the workforce, the stock dropping 10% in after-hours trading. the dow fell by triple digits, closing at a one-month low and the lows of the sechlths investors are still concerned the fed may perhaps start to pull back or taper its massive bond-buying program in the next few months. that stimulus helped to keep interest rates low. today look ot for economic data on unemployment, consumer prices, manufacturing and housing as well as earnings from retail giant walmart. the dow falling 113 points and the nasdaq losing 15 in yesterday's trading. futures slightly lower across the board. >> seema, we'll keep our eye out for that. >>> keeping our eye on the sky, christina loren, we saw how foggy it was. we get the compressed marine laye

. >>> hampton pearson live at cnbc's washington bureau with a look at how futures are trading this morning. good morning, hampton. >> hi, laura. we have futures looking a little higher after storks beat the declines. the dow falling triple digits for the second day in a row on tuesday. the dow down 225 points. the s&p sliding 24. the nasdaq down 63 points. rising interest rates continue to put pressure on stocks. keep an eye on the ten-year yield. investors will also be eyeing key economic data today including readings from the housing market, productivity and labor cost as well as figures on consumer sentiment. if you are the owner of a ford c max hybrid, look out for your $500 check in the mail. the u.s. carmaker is compensating customers for the discrepancy between the fuel economy advised on its hybrid model against complaints that mileage falls short of claims. ford will now be relabeling the car under a new ratings system to reflikt the real world mileage which is up to seven miles a gallon lower than what had been previously lower. obviously those hybrid owners out there, back to yo

kayla tausche live at cnbc world headquarters with that and a look at how futures are trading. >> good morning. futures are calling after the fed offered no clues yesterday on when it may start cutting back its stimulus programs. investigators are reacting to a supp prize uptick in china's manufacturing sector. we get reports on earnings from exxon mobil, the dow dropping 21 points to 15,999. ap's asian suppliers are gathering up for mass production of a new ipad mini this fall. the "wall street journal" says it has a higher resolution retina display and will use screens from apple's biggest rival samsung. that's to be sure there will be enough ipads available for sale. the first version was launched last november. back to you. >> thank you very much, kayla. >> always fun to keep an eye on the new gadgets. >>> 4:46. christina loren is here to tell us -- it felt kind of chilly. >> feels good. summer breeze. we've got more of the same as we head through the next couple days. 4:47. really it's that time of year where you're getting a little bit of the cash back from all the money we had t

bertha coombs live at cnbc headquarters has details on that, plus her morning look at how futures areng. >> good morning, jon. not too much of a direction on futures. stocks yesterday taking a breather despite better-than-expected data on u.s. services. we're going to get data this morning on the trade deficit and earnings from dish network, disney and 20th century fox. the dow starts at 15,612 after dropping 46 points, the biggest one-day point drop since late june. the nasdaq, though, up for five days in a row, looking for a six-pete, starting at 3,693. jeff bezos is a publisher and owner of one of the most stories newspapers. buying "the washington post" for $250 million out of his own pocket. the sales end 80 years of ownership by the graham family. bezos says this is a personal accusation and the post will remain completely separate from amazon. he tells the post readers he'll strive to maintain the journalistic tradition. he says the paper has struggled as has many other publications in the industry with declining circulation and ad revenue. >>> gm is knocking 12% off the sticke

for that and the rest of the news before the bell we turn things over to courtney reagan live at cnbc world headquarters. >> good morning, marla. the sec chairman plans to meet with the heads of new york stock exchanges in the wake of the glitch that shut down trading on thursday. mary jo white pushed for rules to push for tighter oversight. this is the late of the glitch that undermine mind investor confidence including flash crash at the new york stock exchange in 2010. futures are lower after stocks closed higher thursday posting their best day in three weeks, the dow snapping a six-day losing streak despite trading issues. we'll get data on new home sales, the dow rising 66 points to 14,963, nasdaq adding 36 to 3,638. >> better to add than subtract. thank you so much. >>> speaking of adding, we can add to the list of reasons why it's a great day. it's friday and it's going to be nice outside. >> it's going to be absolutely spectacular. good friday morning to you. when you're starting out the day with comfortable conditions and we're only expecting comfortable conditions later this

courtney reagan live at cnbc world headquarters with details and a look how futures are trading. good morning. >> good morning. futures are a bit lower after stocks closed down in mixed session tuesday. the dow faded in the final minutes ending with its first five-day losing streak since december. a report on existing home sales this morning and the minutes from the fed meeting. that could provide clues when the fed may taper, or cut back, on its bond-buying program which is part of the stimulus to keep the interest so low. and like you said, sony will launch the new play station 4 november 15th. it costs $399. $100 less than xbox one. also planning to launch it in november but hasn't set a date. sony has 1 million preorders into vine now has more than 40 million registered users, just seven months after its launch. it comes with a small caveat. people who sign up and use it once are counted as a registered user. vine lets you shoot and loop together six-second video clips. make it worth it, that's it, six seconds. >> make it count. >> ones i've seen, they do. >>> 4:59. if you --

seema mody live at cnbc world headquarters.as detail on that and the rest of the news before the bell. >> good morning to you. this is a very interesting story. let's start with apple. the stock had its second best day of the year, up 5%, here's why. after billionaire investor carl icahn tweeted he bought a sizable stake in the iphone maker. iphone says he had a friendly chat with tim cook urging him to return more of the company's cash to shareholders. he says the move has potential to push apple stock up as high as $700. futures are lower after stocks recovered from early losses on tuesday with the dow managing to avoid a three-day losing streak. data on wholesale inflation, producer prices, earnings from the likes of de. deere and cisco. coca-cola will run its first ads defending the safety of artificial sweeteners. it will run in the "atlanta-journal constitution" and "chicago tribune." coke is trying to stem falling sales of diet sodas which dropped 3% last year versus 1% decline for regular soda. the company says diet sod

. >> if you have a question, by the way, send us a tweet at options -- sorry, at cnbc options. going to answer in our 101 web extra. oh also, scott has a trade on the vix, check it out at the same time n addition to scott, you will find great trader blogs, educational material and exclusive trades. go check it out. the meantime this is what a's coming up. talk about saving face, shares of the social giant, facebook, are stuck below $38 a share. that suits dan just fine because he has got a way to make money if the stock goes up, down or nowhere at all he is going to show you how. >>> plus, it's a secret buy indicator every investor could use to make money. and it's right at your fingertips. what is it? we'll reveal when "options action" returns. [ indistinct shouting ] ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all on thinkorswim from td ameritrade. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumb

send us a tweet at cnbc options. tonight, scott has another way to protect your portfolio, you want to check it out. options action cnbc.com. you can find trader blogs and educational material. here's what's coming up next. >> talk about being penny wise, a few weeks back, colin carter made a bearish bet on j.c. penney, can they squeeze out more profits? . plus, car trouble ahead? ford business has never been better. why is carter worth saying shares are about to do this. he'll reveal when "captions action" returns. [ music playing ] [ indistinct shouting ] ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all on thinkorswim from td ameritrade. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars.

. >> chambers was talking with our colleagues over at cnbc this morning. i'm going to show you a clip but the clip i want to show you is wall street's befuddlement. we won't hear what chambers those say but rather the reporters' confusion. cisco turned in quite strong financials wednesday afternoon. so, why the layoffs? >> did the business that these people were hired for not materialize? and then you talk about a relatively optimistic outlook but yet you are reducing your workforce by 5%. i'm just having trouble squaring up those two concept he is. > how do you have an 18% increase in revenue and lay off? to paraphrase the response, cisco needs to move quickly into new markets, the cloud cover the buzzwords hot now and changes needed to be made quickly. >>> there is some history behind this decision. cisco has, in the past, been criticized for moving too slowly to recognize and deal with changing markets or a changing economy and now it is, indeed, moving very quickly. cisco's shares were down better than 7% in early trading. it is a dow component and tha

bertha coombs is live at cnbc world headquarters with details on that and the rest of your news beforeell. good morning, bertha. >> good morning, marla. it seems like a never-ending battle. the international trade commission is expected to rule on whether samsung infringed on apple patents. that could lead to the ban of the sale of some samsung smart phones and tablets in the u.s. last week the obama administration overturned a ruling saying apple violated samsung's pilots which would have halted sales of older model iphones and ipads. >>> the future is pointing to a lower start. markets have been scooped much of the week by comments from fed officials who are saying the central bank could begin pulling back on its massive stimulus bond-buying program as soon as next month if the economy continues to hold up. the dow is poised for its first weekly drop in the last seven weeks, the dow rising 27 points yesterday to 15,948. the nasdaq was up 15 to 3,669. get set for back to school deals. shoppers have been holding back until now forcing stores to start offering discounts to get them to s

. >>> jackie deangelis is live at cnbc world headquarters with details on the markets. >> the futures actually higher this morning after stocks ended a three-day skid with marginal gains on wednesday. as you said, investors continuing to focus on the growing possibility of a u.s.-led military strike on syria. it was energy stocks that led the market higher as the price of oil rose to its highest level in more than two years, above $1:10 a barrel. we have been watching crude prices, easing a bit this morning. meantime asian markets rebounded overnight as well. yurm is steady today. some of these jitters over an immediate action against syria easing a bit. economic data is on the front burner today. look for reports on unemployment and gdp which could show the knee grew more than previously thought this spring. the dow rising to close at 14,824. the nasdaq adding 14 to 3593. meantime good news for gamers. nintendo cutting the price on its wii you game console to compete with the xbox 1 and play station 4 that go on sale in november. nintendo announcing the 2ds just in time for the holid

. >>> for your news before the bell we turn things over to courtney reagan live at cnbc world headquartersgood morning, courtney. >> good morning to you. futures are higher after stocks fell wednesday after minutes from last month's fed meeting showed the central bank is ready to start pulling back on stimulus measures last year. they won't say when it will happen. we'll get data on new filings for unemployment claims. the dow dropped 105 yesterday closing below 15,000 to 14,897. that is a two-month low. the dow has had its worst six-day losing streak since may of last year. the nasdaq also slipped 13 points to 3,599. u.p.s. will start cutting health benefits for working spouses and thousands of employees next year partly due to higher costs from obama care. the change impacts 15,000 spouses who can get health coverage through their own jobs and not those of union employees who make up the bulk of u.p.s.'s workforce. still it could be a trend that we see continue which is worrisome for many families. >> courtney, thanks so much. >>> 4:48. a trend in the bay area, warm temperatures. but i l

jackie deangelis live at cnbc world headquarters. >> good morning. the futures are higher this morning. this is after we saw stocks rising for a second day on thursday as investors were reacting to data that showed that the u.s. economy grew 2.5% this spring. that was more an economists previously thought. however, still we saw the markets pair their gains by the close as we near the end of the month. this is when traders do their traditional window dressing. that's when they shift winners and losers in their portfolios. meantime oil prices easing after the british parliament rejected military action in syria. that leaves a situation where the u.s. would have to go it alone. today look for data on personal income and spending, manufacturing and consumer sentiment as well. the dow closing um 16 points yesterday, 14,840. the nasdaq adding 26 to 3,620. microsoft is reportedly in talks to make a big investment in sportswear. you may know the app, it was created in 2009. it let's mobile users report their location on social media sites. four square has mo

. >> let's bring in my old colleague at cnbc. good to see you, phil. >> good to be here. >> compare now, the auto industry to what it was like in 2005 or 2006. >> it's different. this is a more lean and efficient reviable of the american auto industry. they had to go through the bankruptcy where, unfortunately, because the planlts closed were here in the michigan area, a lot of the plants had to be let go. you now have plants running on two or three shifts. must have more productive. >> people talk about detroit and ford is bringing back 1400 jobs. they're not doing it in mexico. how much can we expect this to expand from a labor perspective. it won't go back to what it was in the 50s but what can we expect? >> small gradual growth from here on out. you have the auto makers here in the united states running on two and three shifts in their plants. there's not a lot of room on growth from here. >> they're not going to build new planlts here. >> and they don't want to go back to the days of saying let's put down billions of dollars

jackie deangelis live at cnbc world headquarters. good morning. >> good morning, laura.nbc has learned from sources inside team obama ha the president will likely name former treasury secretary and economic adviser larry summers to be the next fed chairman. he would replace ben bernanke is who is expected to step down before his term ends in january. meantime we're watching the futures, they're lower this morning after we saw stocks slumping into the close on monday. markets turn negative following comments by secretary of state john kerry about evidence that syria used chemical weapons in attacks near damascus last week. we saw investors fleeing stocks for assets like oil which is topping $107 a barrel today. gold which is typically a safe haven investment in times of uncertainty at a more than two-month high add above $14 an ounce. the dow falling 64 points to close at 14,946 yesterday. the nasdaq slipping a frack shen to 3,657. also a story we're following this morning, apple reportedly prepping an iphone trade-in program. that was originally supposed to launch in jun

. >> if you want updates on our trade follow us on twitter at cnbc options and dan and his trades canl or at facebook.com/optionaction. coming up next, the final call from the options pit. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade. ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all on thinkorswim from td ameritrade. ♪ >>> we want to thank carter from oppenheimer and say a special hello to toby worth who were good enough to stop by, now we know where carter gets his good looks from. >> be long spi and if you are and don't do this you're a dope. >> dan? >> i wouldn't say a dope but you look for low premium ways to buy protection here. >> mike in. >> one of the t

for all of us at cnbc, thanks so i'm tyler mathisen. for all of us at cnbc, thanks so much for watching. >> tonight on the profit, i go inside eco-me, an all-natural cleaning-products company run by two lifelong friends. this business is running on fumes, and it can close its doors any day. without me, this business doesn't make it. my goal is to turn eco-me into a $10 million company, and in that process, i have to teach these two that business isn't personal. >> you can't fire any of my employees. >> it's a business, robin. if they don't listen... i'm saying "no." this company will close its doors. my name is marcus lemonis, and i fix failing businesses. i'm willing to write a "half a million dollar" check. i make tough decisions. i'm not willing to do the deal if you're in charge of sales. back them up with my own cash. it's not always pretty. i'll take the shower. jen, you take the toilet. >> i don't do the toilet in my own house. really? >> but this is business. i do it to save jobs, and i do it to make money. this the profit. [upb

courtney reagan live at cnbc world headquarters with details on that plus a special anniversary from mountain view's own google. good morning, courtney. >> good morning to you. jpmorgan is under investigation for its hiring practices in china. "the new york times" first reported the u.s. bank has been accused of hiring the children of influential chine officials including the son of a former banking regulator who is now chir man of china everbright group. the dow had its biggest weekly drop for the year. both the dow and s&p closed at their lowest levels in a month. the dow slipped 30 points to 15,081, the nasdaq three points to 3,602. there is no economic data today, investors will wait for the release of the fed minutes which come out on wednesday. it was a day the internet stood still. google crashed late friday night. during that time internet traffic fell 40% worldwide. that's according to web analytics firm gosquared. all google services were unavailable including search, youtube and google drive. speaking of google, it was nine years ago on this day that shares began trading f

if you're at cnbc you are listening to rachel mad dough or kris meadows. it could harden the difference. >> it absolutely hardens the difference. that's certainly the case. it's now -- it's now entirely possible and many people do live within a cocoon of information that reinforces your view of the world rather than challenges. >> never have to hear a conflicting opinion of world view if you don't want to. >> right. and you're sometimes exposed to things that reinforce that that you didn't know about because people on either side who are working those be that -- >> and occasionally as much as that will surprise you, something that is not true. occasionally -- >> once in awhile that does happen. >> the washington post i consider still to be, you know, fighting on behalf of truth and fairness and accuracy. not everybody views newspapers in that way. but your time in the the post these 35 years has corresponded with or run parallel to many of the changes we're talking about. the post is in many respects a completely different paper than it was when you got th

news" tonight, this will abe a story on the general news channels tonight, and people at home who maybe don't watch cnbcing, oh, my gosh. >> mom and pop that are watching this at home, no offense to anyone, they're all putting their money in index funds. this probably doesn't affect them right away. the second thing is what are you going to replace the revenue with if you get rid of eft? >> we can sit here and say, well, it was me. >> listen, we do talk a lot from the institutional point of view. i want to bring in right now thomas miller. thomas miller is an independent options trader. he's calling in from the bay area. probably a typical cnbc viewer. sits at home and trades tefla and options traders, among others. what are you seeing on your screen? we are hearing and getting screen shots on twitter saying their rkaccounts are literally showing a zero balance and a 100% loss. what are you seeing? >> good afternoon. thanks for having me. on the tape, what we're looking at first to come back is bids and offers. i imagine we're seeing the same thing as those investors. some of the offers are bid at zero,

tweet us at cnbc "fast money," use the hashtag bull or the hashtag bear and we're going to give you thew. let's talk jcpenney, taking a hit over the last 12 hours or so an rumored credit problems, the retailer seeing a selloff in stock and bonds on that news but both bounced back after the retailer said the reports were false. for more let's bring in angela dearing, manager director at the sea port group. what's the real story? >> first of all i'd like to say this is an exciting time for the high yield bond market. we have tremendous growth in the high yield etf. this is becoming a very tradeable, charitable instrument for the investor at home. it's an interesting time for people to use this as an indicator for the underlying equity price. in terms of the bond market price action, we did experience some volatility in the bonds but this is certainly not unchartered territory for a company that is experiencing a turn around. specifically, our bonds -- we have a bench mark bond in the 2020 maturity. this particular bond did drop from 9.5% to 10 and three quarters percent yield after the ne

my job is not just to entertain you, teach, coach you, all me at 1-800-743-cnbc.oday a. day where

here at cnbc we use hootsuite as do pepsi and virgin and seagate.e the analytic products. an example would be simply measured which creates reports to polished digital strategies, companies like american express and microsoft use the service. another example is social guide. it let's advertisers measure, analyze, and engage with a twitter television audience in real-time. finally, you have data reseller products. this allows tweets to be sorted to spot themes and trends. there's topsy said to maintain the largest group of tweets in a world and datasift. larry? >> that's great stuff. thanks, josh. now, twitter, like every other company, does have its critics. as part of tonight's documentary, carl quintanilla asked about that. >> when you hear about the decline of western civilization. >> yeah. >> or the enemy contemplation, aggressive distraction, they compare it to crack -- >> any personal attacks you want to throw at me while you're going through the list? >> is it funny? is it enraging? is it -- do you think it's ridiculous? >> no. i think that i

at 1208. joining us now for a first-on cnbc is tidjane thiam, ceo at prudential.nk you for joining us. >> thank you for having me. >> how do you feel about these numbers? >> we feel good about these numbers. the results are good. we have hit four of our first six targets for 2013 early. we're quite pleased. asia is continuing to do well. you've seen profits are up 22%. 32% in the u.s., which has also come back very strongly. m&g in the uk, for the first time above 200 million pounds in the first half and uk business is continuing to do well. overall a very good performance. >> now, you seem surprisingly sanguine about what's happening in asia. many of your competitors were hit very hard by the slowdown. the worries around what's happening in asia, how is the emerging market weakness affecting you? >> it's not really affecting us because we are in a very early stages of the development of the market. what we are doing fundamentally is going into those markets and providing health insurance, out-of-pocket expenditures for health are the highest in asia, so it's an o

i'm bill griffeth at cnbc world headquarters. >> and i'm kelly evans down here at the new york stockday for maria bartiromo. we want to get right to it. steve liesman out in jackson hole, wyoming, and he brings us breaking news. steve? >> reporter: thank you, kelly. i'm met manager director christine lagarde, worrying about spillovers. she said the exit from the policies present, quote, serious risk to those countries that do not have the policies, principally those emerging market countries. and really what she's talking about the current fluctuations we've seen in the last several weeks when it comes to what's been happening with market expectations for the federal reserve and other exits. she's saying some currency market intervention could help for some of the tr

it's great to meet you, great to have you back with us here at cnbc. >> thank you, i saw your kids runninground and i asked them if they will watch tonight and they said their mom won't let them. >> i'll dvr it for them. >> were they be good? >> when you're 18 you can watch it. >> if not, when you're done here you can go police them. >> that's right, that's right. >> this was an interesting business because i grew up in southern california, and i've heard of this florida shop so i was very much interested in it but it's not a first generation business. it's a second generation business. how much did that have to do with the fact that that company was really struggling in. >> so oftentimes you'll find when you find the first generation businesses with a founder in 1966 started the business, they have a passion and believe in what they are doing. second generation, they are just not interested, and i saw it on a daily basis. >> was it a slow decline, or did they just basically think they had the world on a platter and, therefore, they didn't have to keep up? >> i mean, one of the most succes

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i'm bill griffin here at cnbc headquarters. >> i'm kelly evans in today for maria. markets are in the green again but bill, the big question is why. >> indeed. strong economic data this morning. 2.5% gdp in the second quarter. better than many expected. news is cred good news by investors for once instead of worrying about fed tapering right now and there is sir why to talk about as well, right? >> now it seems like there is at least a pause before missiles fly. wall street seeming it like that news as well. we will have more coming up in a couple of minutes. >> all of those safe havens pulling back a bit. it is very interesting to see how the market responds. also if you google words high price divorce, you might come up with google co-founder reportedly splitting with his wife of six years. mother of their two children. he has about $22 billion in google voting shares. the question is, will she get half? will the pre-nup agreement hold up? and there is a lot more to this story including intriguing details about an alleged affair with a young staffer. so we have th

a quick programming note, the premier of cnbc's documentary "#twitterrevolution" coming at 9:00 easterna quick comment on all of this. >> do you remember who andrew klein is? does that name ring a bell? >> my ignorance is -- >> andrew klein started a brewery, right, a wall street lawyer, started a brewery, i don't know if you remember, then started wit capital. the brewery was the first on-line ipo. he ultimately failed, but he tried to change the game in how shares are distributed through wit capital. if andrew klein is watching, you know, ping me, ping us, i would love to hear from the guy. he was so far ahead of his time but too far ahead. freewall street.com which he wrote in '98 or '99 trying to change the way ipos were distributed. it didn't work out but we're sort of now in a way talking about his model. one of the these guys probably a decade too early. so if you're out there, andrew, congratulations, somebody hasn't forgotten about you. >> there you go. >> the beer was pretty good too. >> coming up, taco bell found a lot of success with doritos locos taco but see what they're c

at the same time. that sets up a dangerous scenario in which -- >> how is that different than -- than anybody -- >> can i -- >> -- coming on cnbcnd talking about what they're managing? >> -- ask questions and probe a little bit more deeply than just everybody taking things at face value. sorry, peter. >> no, i just want to tell you something, that as far as the s.e.c. approving what happened yesterday, i think once they look into it a little further, it won't be an acceptable practice. you know what, if you're advertising a position through an advertising medium, which twitter can be considered that, that's illegal. there are certain restrictions on what you can say to potential investors -- >> that's what i thought. >> -- there's a lot of things that -- [ overlapping speakers ] >> -- those are artificial distinctions that don't exist. >> what needs to happen, it needs to be -- we need to know what the distinction is. you think it's an artificial distinction. to me, that's an advertising medium. how many people go on twitter and advertise what they're doing? it's an advertising medium. >> i believe -- >> it is. it's absolutely

john chambers from cisco just appeared on cnbc to talk about lay-offs at the company. we'll turn to the clip you can listen to in meemt. to paraphrase the interview you're seaing, he said he would have a video conference with sisz co-employees here very shortly and will tell them specifically who is losing their jobs. he declined to say where those cuts are coming, jon and laura. we should point out sysco's largest population is in san jose. cnbc reporters clearly confused. sysco turned in strong profits. chambers says he's got to change the focus of business. we'll monitor this and get more information. >> we have a much nicer reality here weatherwise. christina loren, a hot one but beautiful out. >> really nice especially for the first part of the day. picture of san jose shows a blanket of low clouds. temperatures work like this, 64 degrees in san jose, 75 at noon. 86 in the heat of the day. jon and laura. >> thanks so much. >>> it is 5:56 right now. now that pot is legal in washington, seattle police finding a whole new way and an interesting way thoondal their hem

bill griffeth at cnbc global headquarters today. e east room of the white house where the president is expected to begin that news conference at any moment. as soon as it gets s under way, we'll show it to you in its entirety. in the meantime, we'll leave this picture up so we can all know exactly when the president enters that room, and at that point, we'll cut away to it in full. in the meantime, maria, the markets, it's another comeback day here. >> it has been. we're off of the lows. still negative, of course. the dow

bill griffeth at cnbc global headquarters today. we're looking at the pictures in the east room of the white house where the president is expected to begin that news conference at any moment. as soon as it gets s under way, we'll show it to you in its entirety. in the meantime, we'll leave this picture up so we can all know exactly when the president enters that room, and at that point, we'll cut away to it in full. in the meantime, maria, the markets, it's another comeback day here. >> it has been. we're off of the lows. still negative, of course. the dow is looking to snap a six-week winning streak. we have the market down about 64 points on the dow jones industrials average. ken mahoney is with us from mahoney asset management, michael from i-tech, and rich peterson from s&p capital iq and our own rick santelli. rick, we want to kick this off with you. we had a weaker than expected auction yesterday. >> the fixed income market found weaker demand for the three auctions totaling $72 billion, 3s, 10s, 30s. but it doesn't seem to hav

tweet us at cnbc "fast money," hashtag bull for guy and hashtag bear for tim and we'll get you the resultsop trades teen retailers taken to the wood shed. the news dragging on shares of abercrombie. back to school is here. >> that was disappointing. i'm long the retail space. there are a number of names that i like. aeo isn't one of them. i do like foot locker which had a miserable day. it seemed to be very much an overreaction. they are early in the back to school season maybe days. i would buy macy's, rather be there than jcpenney. >> ibm getting downgraded. the shares sliding more than two percent on the news dragging the dow lower. >> we sold this actually back in may after the stock rallied from a disappointing first quarter. it's been so lumpy this story. it's kind of odd. this has been a company that's been a defensive tech. you know you're not getting good organic growth but you're getting double digits growth and that had been in the past enough to please investors. i think you want to wait for this thing to pull back. 180 gets interesting. i do like the ceo. i do like the transit

bertha coombs is live at cnbc headquarters. >> good morning. the futures pointing to a lower start, stocks falling yesterday and comments from fed officials some of whom say the central bank could start trimming purchases of bonds as soon as next month. that policy helped the interest rates low but folks thought after the jobs report they'd put it off. hear from more fed officials later on. we're going to get data on consumer credit and earnings from time warner looking good. excuse me, earnings not so good. revenue came up light and seems nobody went to see "the lone ranger" at the box office. they're taking a write-down. dow starts at 155118 after dropping 93. nasdaq ending the day at 3665, down 27 points. >>> wells fargo teaming up with american express to issue credit cards to its companies. wells fargo the biggest mortgage lender but has a small credit card business for a bank of its size. only a third of its customers have a credit card. losses in credit cards are at historic lows. consumers are doing a better job of paying bills on time.

joining me here at cnbc headquarters, chief market strategist with the lindsay group and a cnbc contributor. our friend kenny folkar, cnbc market analyst. i'm going to start with you, peter, and i'm going way out on a wild limb here. i remember an august, 27, 26 years ago, 1987. the markets had risen a great deal early in the year. interest rates were rising, the economy was lumpy. we had a new fed chief at that time, alan greenspan. do you remember what happened in october of 1987. do we need to worry that history might repeat itself this october? >> i'm not going that far in terms of the extent of the decli decline. investors need to pay attention to what got us here. low interest rates, artificially low interest rates, debt pumping and everything else didn't matter. earnings didn't matter. as long as the feds were printing money to the extent they were, the stocks went higher. that is now no longer the case, at least from the perspective of september/october tapering possibilities. they've also started the process of tapering and tightening. that's the only thing that matters right now.

seema mody is live at cnbc headquarters. >> futures are higher. today look out for retale sales which could offer clues on the spending appetite of consumers as well as business inventories. in terms of how the market ended, the dow slipping ten points, the nasdaq closing 10 at 3670. >>> 5:14. researchers at cal berkley say they're determined people who drive nice cars don't drive nicely. scientists watched drivers at various intersections including crosswalks including who did what and what kind of car they drove. "the new york times," jon and laura, say scientists determined people who drive beaters, what the scientists call them bmw, the other prius of all things. >> interesting. >> this is according to science. >> very scientific study there. >> these guys -- i always enjoy some of these kind of studies. let's see who is mean behind the wheel of those fancy cars. >> i heard a joke about bmw. we'll let that one slide. what's happening outside in the weather? >> a nice day, warmer day. drop that top in your convertible if that's the way you roll

let's get right to kayla tausche live at cnbc world headquarters. >> good friday morning to you. tures in the stock market are flat after stocks closed at record highs thursday. the cause was a surprise drop in first-time filings for unemployment and better-than-expected manufacturing data. we're all awaiting the big news of the day, the july jobs report expected to show another month of solid hiring. forecasts called for 183,000 increase in pay rolls. some exists think it could be as high as 200,000. unemployment expected to tick down to 7.5%. we get data on personal income and spending and factory orders. back to you. >>> jon and janelle. here is an american jobs story for you. it starts with this taco bell in redwood city where three immigrants with japan slept in the parking lot while creating their startup. we talk about it this weekend on "press here." you show up in america, barely speaking english, you expect swuchb to give you millions to create an internet startup. that's exactly what happens. he now employees 15 people. he came here on a tourist visa. if he were to sell

closing bell," i'm kelly evans down at the new york stock exchange. >> hey there, kelly, scott wapner at cnbcrters. maria and bill will be back tomorrow. and we do have a very busy show ahead. it's, of course, a down monday to start the week. >> -- on friday, but it doesn't look as though we'll be able to do it again today. we'll watch, though, and see what happens over the next hour. some big

i'm bill griffeth at cnbc world headquarters. >> and i'm kelly evans down here at the new york stock exchange in today for maria bartiromo. we want to get right to it. steve liesman out in jackson hole, wyoming, and he brings us breaking news. steve? >> reporter: thank you, kelly. i'm met manager director christine lagarde, worrying about spillovers. she said the exit from the policies present, quote, serious risk to those countries that do not have the policies, principally those emerging market countries. and really what she's talking about the current fluctuations we've seen in the last several weeks when it comes to what's been happening with market expectations for the federal reserve and other exits. she's saying some currency market intervention could help for some of the countries when they try to deal with the exit strategies of the unconventional policies of the developed nations. she's urging central banks to manage the exit carefully, and she's saying the country should work together in managing this exit. government, she said, should not waste the breathing spaces provid

jackie deangelis at cnbc headquarters. good morning. >> good morning, scott. we're watching the futures this morning pointing to a slightly lower opening as the dow comes off its third straight losing week. data today on demand for big ticket durable goods, later this week home prices, personal income and spending. those could be game changers. the dow rising 47 points on friday to $15,011. the nasdaq rising 19 points to $3,658. >> one of the primary reason it is stock math has been so fickle is the concern the fed will stop buying bonds. no more quantitative easing. we're seeing that in the world of mortgages already. mortgage rates moving higher. refinancing has slowed down, that means banks including wells fargo and chase are laying off mortgage workers. on friday, a terrible new housing report actually helped the markets a bit. for that matter, mortgages. we're in that really strange place where bad news might cause the fed to keep injecting money. bad news becomes bad news. good news about the economy, some of the news we'll get that jackie mentioned is f

. >>> jackie deangelis is live at cnbc world headquarters. >> good morning scott.re higher this morning after we saw stocks end a three-day skid with marginal gains on wednesday. now, investors continue to focus on the growing possibility of a u.s.-led military strike on syria, and that pushed the energy stocks higher yesterday as the price of oil rose to its highest level in more than two years, above $110 a barrel. we are watching crude prices. they've eased a bit this morning. meantime asian markets rebounding overnight and europe steady today. the jitters over immediate action against syria. those are easing a little bit. economic data also on the front burner. look for reports on unemployment, gdp as well which may show the economy grew more than previously thought this spring. the dow rising 38 points to 14,824. the nasdaq adding 14 to close at 3,593. scott? >> jackie, thank you much. 5:15. super strange tech pioneer john mcafee posted another video to the internet and answers viewers' questions. he says he gets four questions most often. did you kill your ne

we turn things over to courtney reagan at cnbc world headquarters. >> good morning, marla. google gets knocked off its perch for the first time in more than five years, yahoo! topped the rival in internet traffic. it's the most visited site in july with more than 196 million hits. google lagged slightly behind with 192 million hits. google has been number one since april of 2008. the boost comes shortly after yahoo! bought tumblr in may. futures are higher after stocks fell wednesday as minutes from the last fed meeting show the central bank is ready to pull back on stimulus measures this year but won't say when that will happen. we get data this morning on new filings for unemployment claims. the dow dropped 105 points closing below 15,000 to 14,897. that is a two-month low. the dow headed for a sixth day losing streak since may of last year. the nasdaq fell 13 points to 3,599, under the a.t. level of 3,600. >> what goes down must come up. >>> 5:15 right now. christina loren is back. looks like we have a good one outside to get out and enjoy. >> a really good one. what goe

let's turn to courtney reagan live at cnbc world headquarters. >> futures pointing to makesed open afterhe dow had its biggest drop of the like you mentioned. with both the dow and s&p closing. the s&p fell five to 1,655. there is no economic data on this monday, but invaefters will wait for the release of the latest fed minutes which come out on wednesday. you know traders are watching for signs of when the central bank might begin to pull back on that bond-buying stimulus program. back to you. >> courtney, thank you. 5:15. the head of wikileaks posted an enormous amount of information on the internet in an encrypted file, the kind of file that no one can read unless julian assange provides the key. it's assumed to be a secret video. wikileaks calls it insurance. edward snowden who provided information to wick ki leads promised not to reveal anymore secrets as part of his temporary asylum in russia. if the file is from snowden, technically he's kept his promise because nobody can read it. it's out there in case anything were to happen to him. >> thank you very much, scott. >>> time is 5

let's check in with seema mody live at cnbc headquarters. >> it has been a tough couple days on wall street. futures slightly higher after stocks fell for a fourth straight day. treasury bond yields hit a two-year high undercutting stocks on rising concerns, higher borrowing costs if and when the fed raises interest rates. no economic data out today, but we get a slew of retail earnings. the dow dropping 70 points in yesterday's trade, the nasdaq slipping by 13. scott, my friend, back to you. >> seema, thank you much. the south bay's tivo announced a new device this morning, the romeo. spelled roameo. the device will allow you to stream what's on your iphone or ipad. my friend hairy mccrack en at time says it's the biggest development since it went high def. it can record 450 hours of television, record five shows at once while you watch a sixth. if you do that, tweet me the names of the shows, because if there are five shows on -- six simultaneously, i want to know about it. >> when do you even have time to go back and watch that? >> that's why you have to have 450 hours' worth. >>