bertha coombs is here from cnbc. >> reporter: good morning.companies are doing amazing things. facebook has built its first large-scale drone in order to help deliver internet access to remote parts of the globe. it has a wing span of a boeing 737, and it's going to fly above the airspace of planes at around 60,000 to 80,000 feet. that will also help avoid issues with bad weather. the drone will use lays force bring data to the ground -- lasers to bring data to the ground. facebook will start testing it in the u.s. later this year. >>> the markets poised to end the week and month in positive territory despite a mixed session on thursday. the nasdaq logging its third straight gain. but the dow fell for the sixth time in eight sessions. investors on watch for data on labor costs, manufacturing, and consumer sentiment. the dow slipping five yesterday to 17,745. the nasdaq rising to -- rising 17 to 5,128. happy friday to you. >> have a nice weekend. bertha coombs with nbc is, thanks. >>> looks like it's going to be easy to have a nice weekend weat

now the number has turned negative for q3 on the s&p 500. >>> bertha coombs now latest from the nasdaqwhat's the picture you paint, bertha? >> a lot of red but take it in perspective. the nasdaq is coming off of a week where it closed at a record high, down nearly 2% for the week. today it is really biotechs chips that are down and for the week they are off about 3.5%. the big drag comeing from the small caps and biotechs and the reason is because of biogn. biogen having slashlded its outlook for its outlook for its multiple sclerosis drug. that's really bringing things down. on the flip side amazon having its best one-day percentage gain since last april 24th adding a whopping 30 points up side to the nasdaq 100 today but that's just not enough to deliver the big cap index out of the red. >> thank you very much bertha coombs. >>> how do you play this kind of market? with me now, portfolio manager for bmo large company fund at bom, and the cio are global financial capital. er ernesto, yes, we are close to record highs but there are some problems here not to mention a rout in commoditie

with cnbc's bertha coombs. >>> the markets will try to extend their winning streak to three today, stocksse on tuesday, boosted by rising oil prices. even as the fed signals that it's closer to a possible interest rate hike this year. in focus today, we'll get a report on gdp, the rate of economic growth, which is expected to show the economy rebounded this spring. thanks to higher consumer spending. tesla says refer friend, and get $1,000. the electric car maker is offering that incentive to any model s own another gets someone else to buy the vehicle. the buyer also gets a grand. and the offer runs through october 31st. >>> cvs is teaming up with ibm to improve patients' health care. ibm will provide data from medical records, insurance claims and fitness devices to cvs clinics to help people track their health care goals. the program is designed for those with chronic conditions which make up the bulk of u.s. health care spending. >>> in just ahead, the nba three-point line is 23 feet from the hoop. so how many points do you get from 150 feet above it? sports sup next. r family's mouts

with a third of americans enrolled in medicare and medicaid, bertha coombs reports on how dependent these company are on government programs which against dent coincidencely turn 50 today. >>> for americans, it is an entitlement. for politicians, it is the sacred cow. while the medicaid plan for the poor is sometime more partisan. >> we must not allow the promise of medicare and medicaid to be undermined or be betrayed. >> for insurers, it is an important source of growth. in the last decade, the percentage seniors buying private insurance plans has more than doubled from 13% to 31%. expansion under the affordable care act has seen medicaid add 14 million low income americans. >> people with government health care. that number is growing. while the number of people with private insurance through their employer is starting to shrink a little bit. so it is a matter of which direction the numbers are shifting. >> and that shift is they know bottom line of firm in the government health care sector. the nation's second largest insurer anthem reported second quarter profits above estimates afte

. >> bertha coombs of cnbc, thanks. >>> a warm one this morning and muggy. 78 and feels like in the 80s right now. it's another warm day at the shore with sunshine and temperatures will be climbing in cape may in the upper 80s today. that's a live view from the lafayette hotel. right now, 75 degrees in cape may. jessica boyington is in the first alert traffic center are. >>> looking live at the blue route around route one. everything moving along just fine heading northbound or southbound. no roads being blocked off with ongoing construction so good news there. we will check in with area bridges and more drive times coming up. >>> congressman fattah indicted charged with reasonable care tiering and bribery and money laundering along with four associates. still ahead what is next for the long time representative. >>> deadly crash left a car nearly split in two. right now police are going over surveillance video trying to figure out if it was the result of drag racing. >>> one of the region's longest serving congressman is indicted. chaka fattah is not under arrest but the state attorney'

let's get to bertha coombs for the details. >> it involves defense and health care. the defense department has awarded a massive medical records contract to serner, latos and accenture. that was one of three teams that was in the running for a contract that's going to be worth just over $3.3 billion over five years with an option to renew over the first two years. it's the biggest government health i.t. project since the healthcare.gov exchange was launched. it's going to involve building a platform that can handle more than 9.5 million military personnel medical records seamlessly from the battlefield to hospitals and doctors' offices back on the home front and the officials from the pentagon this morning undersecretary for acquisition frank kendall says he put the vendors through their paces during the process, making sure that they're going to be able to provide sharing capabilities on all of these systems, both within the d.o.d., the v.a., and also civilian systems because 60% to 70% of a lot of folks within the military get their health care from civilian doctor

bertha coombs is at the nasdaq with more. >> no good news from yahoo! or from microsoft.disappointment of apple that's causing the down downdraft. on days we might see it trade more than 100 million shares today, interestingly apple's cash board continues to jump. $203 billion. that's enough to give every man, woman and child in the united states $653 cash. eye-popping number. the big caps overall today are the losers. microsoft one of the big drops after its numbers missed with the loss that they posted. biogen on the disappointing news on its trial. illumina a big loser. thoratec at an all-time high putting numbers today for buyouts when it comes to health care, brian, at a record $3795.8 billion in deals this year. >>> to follow up on that it is not every day that a company reports nearly $11 billion in net profits, says it is sitting on $200 billion in cash beats most estimates on everything and the stock falls. that's exactly what's happening with apple. let's try to make sense of this. dom, apple may be down right now but you have some exclusive cnbc data on what ha

bertha coombs "nightly busine yo> washington has a lot on its plate over the next few months from hearings to gearing up for the 2016 presidential race. john harwood joins us to discuss what is on the agenda in the nation's capital. john president obama has had a good couple of weeks. he's picked up political momentum the economy is doing well. what's he going to do with whatever political capital he has in the second half of the year? >> well he's got two big initiative tyler, that he needs congressional support on. one is this potential nuclear deal with iran. they've just extended the deadline. don't know if they are going to get a deal but i think the odds are likely better than 50/50 that they will. economical the number one initiati is getting the transpacif partnership. what he wants from congress so far is simply the authority to negotiat that deal without making it subject to amendment when it goes before congress but he doesn't have the agreement and he doesn't have congress approval. so those are the two biggest things the president is going to be pushing for. >> which brings us

let's get to the latest in today's trade with bertha coombs. >> let's start with linkedin.reported a wider second quarter loss on hire costs. the professional social network networking site has been expanding sales and margareting teams. revenues rose 33% driven by strong growth in the talents solutions business. linkedin is raising the full-year revenue outlook as the newest akcquisition is expected to help. lynda.com. >>> amgen's second quarter numbers were strong. the world's largest biotech company said the strong dollar cut into revenues. amgen is raising the full-year guidance above analysts estimates. they expect to get fda approval for what could be the next big drug. a new cholesterol fighter called repatha in late august. >>> electronic arts beat forecasts as they raked in cash from digital sales. ea is benefiting from the digital goods, accounting for 77% of total revenue. it's spending less on packaging and shipping. the company is raising the full-year revenue outlook as it gets set to release one of the year's most an tis baited games, "star wars battle front.

back to you. >> bertha coombs. thank you. >>> rising mortgage rates, soaring rents, fed rate hikes ahead. what's ahead for housing in the second half. >>> plus -- >> today's "powerhouse" is home to two fortune 500 companies. it is the nation's 54th largest city. and there is no individual income tax here. can you name that city? and that unlimited 2% cash back from spark means thousands of dollars each year going back into my business... that's huge for my bottom line. what's in your wallet? ♪ every auto insurance policy has a number. but not every insurance company understands the life behind it. ♪ those who have served our nation have earned the very best service in return. ♪ usaa. we know what it means to serve. get an auto insurance quote and see why 92% of our members plan to stay for life. a new season brings a new look. a chance to try something different. this summer, challenge your preconceptions and experience a cadillac for yourself. ♪ ♪ take advantage of our summer offers. the 2015 cadillac srx, a cross

bertha coombs sends around some of these days. these are intra day.sort, las vegas sands is up nearly 2%. >> if you just looked over the last week and a half ago or so scott and you look to last week, las vegas was $50, now it's 55. there was a lot of option activity in there. that's what grabbed my attention and put me into those names. i'm in the options only. but right now the rest of china, seems like everyone has their palms out. >> the headlines, "chinese shares falling but doubts rescue." the headlines are scary for what's been happening in the market there. >> this is an emerging market. people need to understand that emerging markets are higher beta. even though china is gigantic, it's still an emerging market. you have a very young, naive and speculative investor class right now. a lot of these people are trading stock the first time in their le their lives, they're margining. you just saw beijing say we'll basically guarantee they get a 4500 print on the shanghai comp. we have to expect there will be more wide swings in that e.m. than in de

let's go to bertha coombs at cnbc headquarters.tainly it will look better than the first quarter? >> that's the thought, carolyn. personal whenever i splurge on something i shouldn't i always think i'm helping the economy. well, the expectation is that the economy picked up in the second quarter as higher consumer spending and a pickup in housing offset the drag from energy prices and trade. the consentsus forecast is for gdp to increase at an annual rate of 2.7% compared to a decline of 0.2%. q1 will be revised higher after the u.s. government took steps to refine the seasonal adjustment. economists say that left residual seasonality in the data which may have led to the overly weak growth we saw in q1. second quarter gdp was likely boosted by the consumer as households use some of the extra cash saved from cheaper gas prices to go shopping. consumer spending which accounts for more than two-thirds of gdp is forecast to have grown about 2.9%, up from 2.1%. the energy sector may have continued to weigh on growth as it struggles by

for more on some of the market movers let's get over to bertha coombs at the nasdaq. >> reporter: hi, really a large cap rally today, although we do have the nasdaq composite back less than 2% away from its recent all-time high recovering from that pullback we saw last week and the big reason why apple is higher today on fairly good volume. we've got an upgrade over to a buy, some research saying that apple makes 92% of profits when it comes to the top eight handset sellers considering the fact it's not the biggest maker in terms of market share. that is quite remarkable. we have janet yellen heading to the hill this week to give her update to congress. it was about a year ago this time that she said that biotech valuations were stretched. as you have market participants coming back in and buying are once again leading. health care among the leading tech tors. take a look at biotech up nearly 50% depending on which index you look at among the all-time highs today including walgreens in the health care space and a lot of retailers today here at the nasdaq at all-time highs, amazon, eba

bertha coombs at the nasdaq for us today.to sue herrera today. >> we have more fallout from donald trump's comes from late last month. he and the pga have agreed not to host the grand slam of golf at trump's golf course. they met with donald trump and the parties mutually agreed it is in the best interest of all not to conduct the 2015 pga grand slam at trump national in los angeles. they are now looking for another venue. carl, back to you. >> thank you for that, sue herrera, back at hq. in johnsgeneral the things that working are the things that are working in tough days. i don't know if people are calculating the cost of oil/gasoline, which means potentially good things for u.s. based retailers as we head back to school. it's the second most important season for retailers -- >> some are saying $2 could come as as soon as as the end of this year. >> and not to mention mortgage rates, another opportunity to refi, if you can believe that. on june 24th, carl icahn said, "i believe the market is overheated" and "if more had war

. >> our bertha coombs saying from the nasdaq side, traders are saying everything is okay, even on arca is if you have trades that were, in fact, routed to the floor. nasdaq says they are handling type "a," that would be nyse securities on their system without a problem. she reminds us the nasdaq did have their own outage back in august of '13, and then an issue with their options trading system in january of this year. >> yeah. this is an odd error on the front of wsj.com. who knows what it's about. but that's not your usual 504 error that comes up when a site is down, saying "oops 504, something did not respond fast enough. that's all we know." just odd. >> our data team, for its part, saying that they are seeing trades coming through, whether it's on arca, on bats, direct edge, there are trading venues thatted to the nasdaq where trading is available. as carl just mentioned, bertha at the nasdaq reporting that traders are saying that it is working together. despite the fact that trades rather directly to the floor are halted. we have seen all stocks here at the nyse halted as of 11:3

bertha coombs. hi bertha. >> hi mandy. we are seeing a broad rally here overall. some of the biggest gainers include ultra genex on pretty good news on a bone therapy trial. walgreens, boots alliance naming the new ceo permanently. he's very bullish on their prospects, saying they are on the hunt perhaps for some sort of acquisition. they're really pushing forward when it comes to health care. nasdaq today is stronger. nasdaq yesterday gained most of the share when we saw those trades diverted from the nyse floor. today things are back to normal in terms of the level of where things are tradesing overall. as far as some of the stocks coming back that were really beaten down earlier this week sohu sohu.com has gained back half of the losses today. chips continue to be trading to the downside. one thing that continues to under perform here is apple. take a look apple. it just turned negative here on the session. since it has been added to the dow jones industrial average apple is off more than 4.5% even as the industrials are only off about 2.25%. it's one of the bi

bertha coombs is all over how this deal could affect health care costs. >> that is going to be a biguestion for regulators. combine anthem and cigna would become the largest health insurer by membership. with $115 billion in annual revenue, they would be smaller than unitedhealth. with more than 50 million members, they cover nearly 1-5 americans. anthem's ceo says that will help them lower costs and pass savings on to consumers. in some big markets like california, for example, their combined commercial business would boost anthem's market share by 20%. which could prompt regulators to ask for divestitures. the impact of the deal will likely be looked at alongside aetna and humana's proposed merger. anti-trust experts say the companies will have to make the case consolidation won't hurt competition. >> that they can become more efficient and they should be able to lower the rate of increase of their prices. as you know in the hospital sector to some degree and other mergers, we frequently see price increases. >> while anthem and cigna say they are confident of approval the deal does

. >>> uptown to nasdaq and check in with bertha coombs. >> seeing plenty of new highs here particularlyedia and streaming names. netflix ahead of its earnings getting its price target up. the the street was looking for 2,500 new skububscribers. amazon the streaming giant. apple as it has launched its streaming music today near the highs of the day. apple a big reason why we're seeing strength in the large cap tier but also the biotechs. the usual suspects. a year ago janet yellen said their al their valuations were stretched. that index is trading at 83 times earnings. nonetheless, you've got new highs today including biomarin which has doubled. >>> gentlemen, thank you both for joining us today. burns, why do you say that the market here is not really probably pricing in what's happening in greece? >> well the markets today based on the current action clearly like what they saw but if you really just read the headlines, the headlines say that problem solved and the fact of the matter is you really dig beneath that, there's still a long way to go. we've move the passed the catastrophic

bertha coombs. >> these days it is health care m and b&a and particular biotech m&a. celgene seeing an all-time high boosting its outlook even it acquires acquires another company. the nasdaq as well as 1% away now from its historic high. we're continuing to see these moves in biotech's arena which does a similar type of drug that it's researching. also today is a big mover, we've come off the highs. also consumer discretionary stocks today. amazon on its anniversary, having prime day seeing a lot of activity there. it at a fresh all-time high today. facebook as with el. you can also see the big moves when you take a look at micron. talk that it might be taken over by a chinese chip company had that stock surge yesterday. now with people throwing water on that hold water on that you're seeing it give back. brian, back to you. >> bertha thank you. >>> a reminder to our viewers and listeners with be we are awaiting the president to begin his big news conference any moment now. it is about that historic nuclear agreement with iran. he now has to sell the deal both to con

. >>> to bertha coombs we go at the nasdaq for the very latest from there. >> the nasdaq is still up the month, but look at biotechs. interestingly today when you get a big deal being announced, oftentimes that sort of spurs some buying in biotechs. there's appetite and that conviction that you're going to see more deal making and taking out. the biotech etf, the ibb, is stit sitting right at its 50-day moving average after having lost 5% this week. some of the best gainers today are indeed biotechs. amgen ahead of its earnings next week. perrigo up. now that mylan is going to continue to per sue perri go o in that biotech game. also some big caps that are doing well today, american airlines even as the airline index is off 3% is up after posting better than expected earnings. as usual, the usual suspects amazon and google are up on a day when the rest of the market is down. >> bertha thank you. >>> china and europe roiling the markets today. uncertainty overseas causing a lot of anxiety for traders and maybe even for you. but how will it affect the fed which is meeting this week? le

over to the nasdaq and moving a little further uptown and bertha coombs, what are you watching there?watching the nasdaq 100 that's come within ten points of its all-time high close. right now near the lows of the session. definitely come back but some of the gainers here and the movers to the upside qualcomm up 2.2% on reports that it may consider a break-up and google today topping $700. we'll see if it closes above there. that's an all-time high. another all-time high today, facebook as well just shy of $100 here over the last couple of days and facebook on momentum doesn't report until the 291th. tesla today is the drag the worst performer on a downgrade to a sell with ubs saying that it's likely to sell fewer cars and be a heartbreaker in terms of its earnings. back to you. >> okay. thank you very much, bertha. joining us now, we have a couple of market guests. bob pavlek and a chief investment strategist at raymond james. thanks for joining us. bob, you said using weakness on greek headlines, use this as an opportunity to accumulate, and i guess in the short term that would have

bertha coombs tweeted out recently 84% of the average daily volume traded so volumes don't look to beecisely because of these alternative trading venues such as here at the nasdaq. we've learned here that the type a stocks nyse stocks, handled at this exchange was up 20% as of 1:00 p.m. compared to the trading that happened yesterday up until 1:00 p.m. 20% increase in the trading of nyse stocks here at the nasdaq. >> so melissa, that makes perfect sense. right? institutional investors that need to continue to be represented and execute need to find the other venues. so naturally that's how -- that's where the flow would go. >> fair enough. let's take a quick break. when we come back we are approaching the critical time when the stocks down here need to start reopening as we approach the close. we should also mention stocks are trading and the dow jones industrial average near its lows of the session, down 210 points. >>> welcome back. bob pisani on the floor of the new york stock exchange. nyse data center behind mean. quite a momentous day here when at the open the nyse informed us t