bob pisani expins. >> earnings season is in full swing a so far the numbers are still strong. second-quarter earnings are expected to jump more an 20%. those are outstanding number, but the outlook is lookingle a li less rosy for a handful of companies. so tre are three key headwinds in particular that are plaguing some reports. higher interest rate, a stronger dollar and of course, all of this trade war uncertainty that's leading, in some ca hs, toher cost. illinois tooleorks, they mak industrial equipment like engineer fasteners. they talked about currency issues and inflationary challenges y whirlpool, all know them. big manufacturer of home appliances like refrigerators and washing machines. they suffered a big earnings miss and they cut their fu -year outlook blaming in part, stronger dollar, a rise in steel costs as well as some weakness in europe. the ceo, markisher said the u.s. steel costs in particular have reached unexplainableve , that's a quote. whirlpool had originally been a big supporter of stricter trade controls for its own industry to combatompetition from r

let's get to bob pisani for details. bob? >> hello, melissa. the sec has disapproved the application of the bzx exchange to list and trade shares of the winklevoss bitcoin trust it emphasized this disapproval does not rest on any evaluation or opinion on whether bit coin or block chain technology has any value as innovation or an investment they stayed away from that the sec noted that it would seem that more than three-quarters of the volume in bitcoin occurs outside the united states. 95% of the volume, they say, has occur nrd non-u.s. exchanges the bid as it spreads very widely across exchanges, they said the volume in bitcoin futures markets are very small 20% of the volume of platinum and 2% that of silver. its mission is designed to prevent fraudulent or manipulative acts or to protect investors. they said this over and over again. they were concerned about fraud and manipulation of bitcoin, particularly since this is done largely in an unregulated, offshore market. as for searches that she web resistant it the manipulation. the record be

so when will investors get their deal day our bob pisani is at the new york stock exchange with more., bob >> hi, melissa companies split their shares to make their stock more affordable to retail investors. stocks peaked in the late 1990s when the dotcom era drove tech stock prices up dramatically and the financial crisis again and they dropped dramatically and they never really recovered. so why don't companies split their stock as much as they used to much of it has to do with the predominance of institutional investors like vanguard over retail investors they own 60% of amazon shares, 72% of google shares and 80% of netflix. institutional investors don't really care if the stock is high priced or not and they may be perfectly happy to have it high priced because it discourages day trading that introduces volatility and that's warren buffett's mentality and he said for years he has no problems with the company's stock price going up and doesn't care about stock splits for him it's more about the dollar value of what's being bought for example, if he wants $1.8 million in exposure t

report, i'm business bob pisani at the new york stock exchange. >> bob just mentioned micron technologyat company' been caught inle legal ban china that has added to the china-u.s. trade tensions. a ban was put in place that prevents micron from selling chips tr that co but the company did say the decision will not have a big impact on its revenue and that sen shares up more than 2% today. >> let's focus more on those three key sectors, the banks, the semis and the industrials with jack hadlan w crescent advisers. always good to see you, jack. >> nice to see you, sue. >> let's start with semiconductors and basically, they're taught ins trade issue and it doesn't look like that's going to go away any t soon. what's your attitude with what the ultimate impact might b on that particular sector? >> you're right, sue. the semiconductors right now are collateral damage in this tit for tat trade war with china. we have to keep in md that micron, in particular, was an object of a chinese takeoverse ral years ago that was. deni since that time, of course, micron has accused their chise competito

for "nightly business report," i'm bob pisani at the new york >> as for the whole market today, the dowded the win streak to five straight sessions as investors continue to focus on corporate earnings. the dow rose 79 points, today and the nasdaq fell a fraction and it's record territory and the s&p added six and as you know, policyut ofashington has been playing a key role in this market and cnbc's delivering alpha conference in new york city, and the gatherings in one of the biggest names in investing. tyler math son was there and he filed this report. ♪ ♪ >> trade w the top topic today at today's delivering conference and it began with the president's chief economic adviser and unapologetic free trader larry kudlow saying he has no quarrel with the president's approach to china. >> i have been a long time critic of china and it's all a matter of pelic record on tape and i think the president is doing exactly t the rightng here. this should have been doneears ago. a, the world trading system is broken. the world trade organization is broken and we just had this discussion at the g-7 a

for nightly business report, i'm bob pisani at the new york stock exchange.cast is bowing out of the fight for 21st century fox entertainment assets meaning that disney has now won the high-stakesar bidding with its offer of more than $70 billion. for itsomart,st says it will focus on expanding its international reach a controlling stake in european broadcaster sky. the remainder of which is owned by fox,s a matter of fact. comcast, as you may know, is the parent company of cnbc which produces this program. shares of comcast andisney were up on the day. fox was down ever so slightly. >> as traditional television and movie studios do scramble for content and viewers an old competitor has been growing exponentially and ttht would be video game industry and the hottest game around right now is fort night and it recently became a billion dollar business. julia boorstin tells us why. independent game developer epic games has ats hit on hands. the company topping that landmark billion level in large part from in-game purchases around the pular battle royal mode, wh

quiet summer for bitcoin so far and the cryptocurrency may be slowly fading from public memory bob pisani is at the nyse with more bob? >> hello, melissa. this is pretty simple, folks as the price has come down, the volume has declined. not only that, the public interest has declined, as well let me show you here first, bitcoin searches on google began spiking in the spring of last year. look at that spike it peaked around christmas and then it's been dropping notably into january since then, since the middle of january, the search interest has paralleled to priss action and occasionally it spikes up and surge interest has been on a slow, downward descent all year. elsewhere, this week, the level of search, interest was less than 0.1 the level at its peak last december. social media posts have been declining. the buzz interest that tracks investor sentiment across large-cap stocks mostly by monitoring commentary on twitter. you can see thevolume of posts on bit koicoin hit a high in december, and it's been declining since then there was a spike up in early february you see the second litt

our bob pisani joins us from the new york stock exchange. b. >> melissa, it may not be roaring back to life, exactly, but bitcoin has been definitely picking up its head up off the floor. some reports are calling this a short squeeze and up four consecutive days from 7,000 to $7400. bitcoin is on google it's dropped dramatically in the past few month, but cryptos tend to move on two things. number one, they tend to move on regulatory news and number two, any indication that more users might be coming online in this case, this week's news is mostly about more potential users and traders of crypto. so on tuesday, we noted mastercard had published a document saying how they would speed up cristo transactions holding both fiat currencies and crypto currencies. mastercard getting involved in cryptos and bitcoin was up 3% and its best performance in three months on friday we reported coinbase was considering adding to its platform, bitcoin cash, ethereum and litecoin on their platform these coins all jumped and even bitcoin was up 5% that day so bi

i'll see you later bob pisani i am joined by the crypto king barry silver, founder of the cryptocurrency group great time at the panel and i'll say what bob said, the bitcoin bottom is probably in. what caused that bottom, do you think, to be put in place? what caused that surge above 7,000 that we saw so suddenly, it seems i think, it's -- it's -- a lot of people were looking for a bottom a lot of institutional money was looking for an opportunity to get in, and i think the bears just kind of ran out of energy, ran out of bitcoin to sell, and i think from a technical perspective, it's starting to look pretty good and when the chair of the fed says negative things about bitcoin and howard marx says negative things about bitcoin and bitcoin doesn't move, i think that's a really bullish sign >> you're clearly a believer in cryptocurrencies and the platforms surrounding cryptocurrency, but when you have the fed so outspoken against cryptocurrencies and when you have the head of the fed so bullish on icos and cryptocurrencies, aren't you swimming upstream? >> and that's the best part. that's

let's get to bob pisani for all of the details >> hello, melissa.d news is coin is up about 10% in the last few days and though it did drop midday. it's not clear what happened in the middle of the day. some note electronic company payment square has withdrawn its application to get into the banking business and that was a big deal back in june. new york financial regulators granted square the go ahead to allow new yorkers to trade cryptocurrencies today's drop may be due to concern that there may be less future volume in cryptos not much good news for bitcoin, folks. it broke through the psychologically important 6,000 level and it's still in a long and even a short-term downtrend. the last time there was a rally of any note was way back in april when bitcoin went from about 7,000 to 10,000 in two week, but it hasn't done anything on the upside there have been some reports that volumes on some exchanges have increased in the last few days as bitcoin has come back a bit. that may be true, but in a few days it's a short time horizon and the foreign e

. >> bob pisani is watching it all on the floor, as always. just a moment. >>> look, you know what's been doing well drug stocks. they're starting to get a little pep. that's interesting because that's defensive mccormick, used to be mccormick spice, that had the best quarter of probably any company in the consumer that thing took off. mccormick and estee lauder >> i'm glad you brought up drug stocks a related thing, you missed that amazon deal. >> holy cow was that bad for walgreens! >> $11 billion in market cap wiped out of those three stocks because they buy pillpack. >> walgreens didn't help with a really terrible quarter where they were bad in the front and bad in the back. walgreens seems to have no strategy cvs is at least trying to diversify. but that group is -- remember when amazon was on, off, on, off. well amazon is on. i don't want to be in their crosshairs nothing's changed except for the fact that kroger reported a good quarter because they've kind of figured out some stuff a lot of retailers that have figured out alternate ways

"nightly business repor i'm bob pisani at the business exchange. >> it's time to t a look at upgrades and down grades right now. alysts at just about every wall street bank and brokerage issued a report on amazon today. many hiked their price targets including jpmorgan which upped its target to $2200 on that stock. the analyst citn ama significant profit growth we saw in the second quarter following that earngs report last night. the rating remains at overweight. today'shares closed at 1817.20, up half a percent. meanwhile intel downgraded by a couple firms including citi which cut neutral to buy. host of margin head win after intel's disappointing earnings report. price target $50, finished down in today's trade. >> down to market perform from outperform at bmo capital markets. the analyst cites problems with the cloud bus following the company's disappointing revenue and margin guidance. pre target is $27, today juniper dropped $2 o2618. mattel upgraded to neutral from underperform at d.a. davidson. the analyst cites possibili takeover of mattel. the price target is $14. mattel lost

bob pisani explains why this earnings season is critical for the market. >> the last earnings season was all about raising estimates thanks to corporate tax cuts and share buybacks and expanding global growth, but a lot has changed in the last three months this time around, investors really just want to see companies maintaining their earnings estimates and not cutting them. that's important. now thatay seem like bit of a downgrade in expectations, but it's not,en g the big gains we've seen in the earnings recently. second-quarter earnings, for example,ec are ed to grow 20% in the s&p 500 and that's about far off from the first quarter's 26% growth. despite the trade war talk, the company feels comfortable with g the earnis guidance that they gave earlier in the year and that's a very bullish sign for stocks and one of the reasons the market has been moving up recently. the market has held up remarkably well, if you look at it. take monday, for instance, stocks surged in the absence of trade warheadline and the market's come to believe that cooler heads will prevail on global trade.

joining sus cnbc contributor ron and sand awe have lindsey ball the strategist and bob pisani joiningay next woke nobody is expecting results affected yet but it will be interesting to hear what forward guidance has to say in industries as they try to anticipate the impact right. >> absolutely guidance is always the most important things on earnings report because the numbers we get are in the past we care about the future so far, though what we have seen is that the numbers that have come out have been very, very good and guidance has actually been good we haven't seen anyone cut numbers because of expected tariffs. but we'll see how it changes as the next few weeks unfold. >> what are you expecting. >> well i think in the short and intermediate terms the markets fixated on good economic numbers the prospect for decent earnings in the longer run and i rarely say this as you know i think the market is wrong. if you look at nationalism and populism, the world is going in a different direction. i don't think the market is ready to discount that but it may one day be if this were to acce

bob pisani mike santelli. >> bob and mike talking about the fang stocks we are talking about them moreng under a rock facebook, amazon netflix and google now alphabet they get all the attention but there are less sexy tech stocks outperform the prominent cousins. that's what dom looks at. >> i guess is tech really that unsexy if you compared to some of the names like netflix it is. but these are growth like bob and mike have been talking about. they are names forefront in the traders and investors minds the past few years and arguably since the end of the financial crisis if you look at the overall sector year to date the nyse fang index tracking the stocks you just mentioned on a neertd basis 31%. that's not anything to shake a stick out. it's god 31% upside but of course netflix 1 point more than doubled. pulling back a bit now of course facebook today but check out other names on the tech side that are not perhaps the ones you consider hugely massive parts of what's going on with the overall tech picture. but they are impressive. microsoft shares down today. but you can see they are

bob pisani here on the floor. dow down about 220.ll begins right now. >>> welcome to "the closing bell." let's take a look at how we finished the day on wall street. this is the first down day for dow, s&p and nasdaq in the last five sessions. worst day for stocks in july. it has only been a few weeks so far. dow closing lower by almost a full percent. nasdaq hit the least down half a percent. russell 2000 index of small caps down 0.7%. a new round of tariffs on $200 billion on chinese goods driving markets lower. what an extended trade war can mean for the u.s. economy and your money we will dive deep into those questions and more from wilford's under view with william hague ahead of president trump's visit to the u.k. tomorrow. first on the markets joining the panel michael santoli, chief investment strategist and stephanie link is here, managing direct director. disney, chevron was the biggest lagger. american airlines biggest loser. that whole group got clobbered in today's session on that revenue guidance cut. let's talk about t

stabilization for some of the faang names a as bob pisani just said, russell 2000 had a strong day.erall a positive way to end what was a pretty strong month for stocks apple, by the way, closing out ahead of that report leading the dow today was 3m and walgreens was the big laggard. ipg photonics the biggest decliner >> i'm not always so quiet and definitely not so peppy, but i appreciate that. every day i'm going to characterize the market in the way i want you to think about me, sara that's the way it was. you had areas under pressure that got a bit of a lift nothing really got carried away on the down side the up trend has been provided what's been lacking is any real momentum it's not been about a lot of forceful buying behind this, which is why it makes you wonder it just doesn't feel as if the market is going to get away for from you >> do you agree, mike, it was that positive trade headline just before the open that was that positive impetus as opposed to some bottom fishing >> that seemed like an excuse, honestly >> and it was almost a walk back during the course of the day

joining us, our own bob pisani and mike santoli trade worries, fears seemed like last week.re up about 259 points on the dow, s & p chart looks similar, up two-thirds of a percent. >> you can see what happens when you have a weekend devoid of headlines about trade wars escalating nothing happened this weekend essentially. we saw a rally we saw a rally in china which has been dramatically oversold where we are now i think we have a great jobs report, we have modest wage inflation, good job growth the fed in a dovish box that's positive for the markets trade war remains the marginal sentiment mover that we've had see, no talk, market lifts and beat up sectors, industrials, materials, semi conductors on trade wars start to lift. the issue is what will happen for earnings season. i think the bar is lower this time last quarter, everyone anticipating we raise estimates for second and third and fourth quarter and they did this time from what i hear, people will be happy if they affirm guidance. >> if people are primed for the second hand softening in earnings segments, i wouldn't

bob pisani, strange market day with leadership in technology and consumer staples. >> yeah. very odd and we're still not getting any real help from industrials and some of the other laggards like bank stocks. a lot of those names are down 10% in the last two weeks. consumer stapleses, health care defensive. and banks not doing much another oversold group that's not rallying appreciatively. those adp numbers didn't help this morning intel, semi helping out. johnson & johnson, defensive, merck, procter & gamble. that's fine but what happened to all those names we use as proxies for global growth in the trade war issues, boeing is doing nothing. the financials are doing nothing. travelers is down today. goldman sachs is basically flat. you see what i mean. those trade names, those concerns about yield curve stories, all weighing on the markets. you want to look at another global growth dollar story, look what's been going on with the agricultural stocks. metal commodities, dbb is what you want to look at here, near a 52-week low. an even worse one, dba basket of agricultural it

bob pisani is with us. >> earnings have been generally great, like first quarter, they're raising numbers the second quarter and third quarter numbers look good. starting to see head winds heard about higher rates, getting complaints about that, complaints about the rising dollar, for example, complaints about tariffs and higher costs did you see this the last couple days, kimberly-clark talked about higher commodities, weak foreign currency whirlpool came out, talked about stronger dollar, higher costs, weaker in europe and so you can see little market head winds going on here i think it is starting to effect things at the edges. overall, numbers are pretty good there's kimberly-clark, they talk about concerns overall. whirlpool is down big. they're seeing declines in europe, in addition to higher costs. united tech didn't say much about stronger dollar costs. avery dennison, it is a mixed bag of higher costs and dollar issues what's messing up people badly, and that's google. google, alphabet, reported decent numbers overall take a look at the numbers 9.59, analysts are expecting, and r

ahead, what did fed chair jay powell say about the economy let's check in with bob pisani at the new york stock exchange. >> it's been an excellent day overall for earnings because the companies that we want to beat are beating. not only that, they're raising guidance several companies came out and not only beat, raised guidance granger, beat, raised guidance united airlines, beat, raised guidance csx, they beat as well they raised guidance textron, they came out, they raised guidance. down a little bit right now on some margin pressure so we've got a rocky start to earnings let's call it that remember when jpmorgan came out several days later it was fairly difficult. things have turned around a lot. the reason things have turned around, we have seen 0.1 of the s&p reporting and numbers have gotten better every single day today earnings are expected to be up 25%. it was 21% just a few days ago this may be another big blowout quarter. revenues expected to be up 8%. so far they're up 10.1%. so right across the board. key trends we're seeing, very important. the emphasis among the compa

. >> just to wrap this up, doug, in light of that, i mean we have seen it with markets, bob pisani reportedis a lot, the fact that we can even sit here and essentially level a trade war, level tariffs, have this fight is because the u.s. economy is growing as strong as it is you have tax reform, deregulation, and that is from a market standpoint net positive versus what we see play out with trade. is that not the case >> i think that's absolutely the case i think the regulatory moves, the tax reforms are all incredibly powerful. they were the right thing to do. i am firmly supportive of that the real question on the trade issue is when will the administration demonstrate a win? when will they use tariffs in a way that cause other countries to lower tariffs and end up net better off for the trading regime that's always been the stated case there's just no evidence it will work so far. >> gentlemen, we will leave it there. thank you for joining us jason, doug. >>> coming up, shares of ge are sliding. down there, 4.5% after earnings. the latest from the executives on the call. plus former ge v

barely above the flat line and joining us for more is kenny from o'neal securities and our own bob pisaniood morning to both of you guys what's going on here the semis were up pretty strong at first i don't know why the semis would be higher. >> it was a broad market rally. europe was up. there was talk about concessions with trump created some excitement especially after what happened on tuesday the market was up and then hit it at the end of the day listen, it's a holiday, short week volumes are low. traders trading with trading market not a lot of institutional participation. in here it's just as back and forth trading. so there's no real rhyme or reason other than the always whether it's european tariffs or china tariffs it's going to be back and forth between the two headlines until really until next week with you have all the participants coming back >> the vix is right at the flat line >> what the market is reflecting is concerns that earnings will slow on global growth slow down. trade, tariff, whatever. just look at the trading pattern in the last couple of weeks. where is your m

breaking above 7,000 for the best day in three months let's get to bob pisani at the new york stock exchange for more on what was behind this move hi, bob. >> a little bit of good news finally, melissa and bitcoin which was struggling at the $6800 level popped over $7,000 in just seconds in the middle of the day. here's the news. mastercard has published a document outlining how they may try to speed up cryptocurrency transactions by linking accounts holding both the currency and cryptocurrency this document which is by the trademark office notes that it often takes a significant amount of time and ten minutes is typical for a block chain based transaction to be processed and they can be done in nano seconds. we all know that this difference puts payments using cryptocurrencies at a big disadvantage and merchants are wary about accepting block chain currencies and individuals may have trouble proving their identity and ownership of a wallet >> what is mastercard proposing? >> they want to offer a new type of user account that would allow a user to do transactions using cryptocurrency, and th

bob pisani has been all over thiss in terms of how many stocs are up versus down there are many reasons why you could be bullish this just happened today we had a client who wanted to hedge a hfedge a portfolio $5 million. it tocost him $8,000 to protectt the down side. it's a question of do you want do that or continue to roll the dice and move along. >> market higher or lower, and howard marks says it will stay where it is. he said f.a.n.g. stocks, everybody loves them, but the price is distorted by what's happening in etfs. >> i don't agree we're in the eighth inning. i think we're earlier than that. that aside, typically the end of the bull run in the markets, when you get into the last 6 to 8 months of the bull market, you typically blow off the top you typically think that's a great time to invest the s&p historically appreciated 20% to 30% in that last sort of inning if that's where we are, you want to be buying stocks. >> if marks was sitting here, mr. marks would say i'm not a market timer i would rather be early than late >> understood. that aside, i do think we'll be higher o

. >> thank you >> bob pisani at the nyse. >> our very own crypto baller says there is one more key hurdle brian kelly joins us to tell us what that is. >> hi, melissa so, yeah, these are the hurdles that bitcoin has to get to so this to me feels like a very real rally and it feels like we're in the beginning stages of another bull market. that's my view on it however, we've had a tremendous run-up because of the etf that bob just talked about and it's all been in bitcoin. the hurdle that bitcoin has to get through is one of the etfs is either rejected and the ftc asked people to withdraw the application and some people in the market are under the impression that you can have this etf come in august. i would be very cautious making that bet, tleek after the run. now what's interesting remember last year when we had the etf, the etf was rejected and it actually boosted off coin so we've seen bitcoin outperform coins like a theer yum and coins like rippel and that type of thing have been flat because the money's been flowing to bitcoin. so this could mean that off coin, if the etf is delayed

bob pisani were you surprised that there wasn't a better reaction in the price of bitcoin >> it goes right to exactly how dower the sentiment is in crypto right now. >> these things would have been up 10% and 15% in the day and there's nothing going on it was amazing >> it's very positive news in the long run for the sector and robinhood has 5 million accounts now and part of that is due to using crypto as a loss leader and in general it's positive, and i was disappointed in today's reaction >> back in june we asked our next guest if he would invest his mother's money in cryptocurrencies here's what he had to say. >> yeah. absolutely it's all about sizing appropriately. so even if you're the most conservative investor out there, right? just because there's volatility and that adjusted risk for return is quite good relative to other asset classes. >> mom's always right, but maybe not this time. bitcoin is down 7% since that call and joining me now is the crypto asset management and all of the other moms out there, what do you tell your mom? hey, son, what happened? >> look, i would sa

. >> let's turn now to bob pisani. >> the important thing here it's trading up 3m, great old respectable company here just take a look at the business of 3m right now. they have a good predictable business across a very wide range of products. industrials are 30% of their revenues they make tapes and adhesives and health care and medical and surgical products. and remember those famous post-it notes, they're the guys who make that. let me tell you the bad news about the company. this isn't the tech company. so their organic growth guidance day 3 a to 4%. let me show you the charts for the year this thing was a monster going into the start of the year unfortunately the expect asians for wall street for growth were way too high the stock hit a high in january when the stock market hit a new high, and then they give guidance and lowered the guidance and the stock essentially has been straight down since then. this is great performer overall, great company but the street wants growth and it's hard for 3m to deliver the kind of growth that the momentum guys and the growth people want to deliv

just before i bring in bob pisani let's look at some of the biggest individual movers off the back ofr. envision lower. take two interactive. these are market mover recommendations from the delivering alpha conference, something you must attend next year if you haven't this year. >> and i'm going to the cocktail party. >> you can't get into that unless you go to the whole thing. >> you can. we are in a slow motion melt down. i know it doesn't look very exciting. we are up eight out of the last ten days because the earnings picture has improved. look at the companies coming out that are not just beating guidance but raising guidance. we had granger, united airlines. they are talking positively about going forward. that is what the market really cares about right now. we have had about ten percent of the s&p reporting. we have 25% earnings growth. remember we had the record last quarter 26%. the numbers are really holding up. thank mr. powell today, another second day of testimony. everyone is convienced it will b gradual. that was a great comfort. >> and dollar was stronger yesterday t

let's get to bob pisani. >> good morning, guys. global markets are mostly up china had a great session, up about 2% it's been really rocky though the last couple of months with concerns about trade look at these markets. they're way off of their recent highs. china's 20%. brazil's 16% south korea, 12% japan, germany a lot of markets are off of their highs. even germany down 9% we started off strong on the transports airlines were up on delta news energies have been up and down all week it started up, it's down right now. industrials generally have had a good week. semis are mostly up, most live because broadcom is down 15%, 16%. take a look at airlines. delta, lot of people said delta lowered the numbers but remember, there is a lot of talk about what they're doing, concentrating on reducing capacity there and a lot of positive comments from them. you see delta just basically flat american's down 30% on the year. it it's been a terrible year. they've already priced in the fuel costs we're about to begin the earnings season. a numbe

. >> right now ibm leading the dow along with disney but it is down 59 bob pisani >> happy hursday, everybodyre right, carl, ibm's adding 50 points to the dow because of its decent earnings and decent outlook. other than that, it is tough american express weighing the dow down looking at the sectors, very defensive today. staples are down because philip morris didn't do too well. techs up, ibm leading. nice to see an old-school stock leading things banks which have done well in the last several days after the initial earnings reports were down we've done well in the last few days banks down a little bit today. we've seen some movers today danaher up, ibm up, alcoa and ebay and philip morris to the downside guidance is a lot more mixed generally the last couple of days the reason the markets are up is because guidance is good today danaher raised guy dance ibm affirmed guidance ebay gave a very mixed but lower guidance for the rest of the year philip morris as well. that's i think weighing on the markets a little bit the much more mixed guidance that we've been seeing at least up until this mo

. >> they're all in companies that have been impacted by the tariffs and to bob pisani's point you'reting it all on guidance >> gents, thank you very much for joining us have a great weekend >>> up next we'll discuss whether the economy can maintain that pace. >>> and talk about a tweet storm, twitter shares plunging after a decline after a month of active users coming up we'll share the impact of that. >> "e osg ll" ckn thclinbeba ia couple of minutes. we have a question about your brokerage fees. fees? what did you have in mind? i don't know. $4.95 per trade? uhhh and i was wondering if your brokerage offers some sort of guarantee? guarantee? where we can get our fees and commissions back if we're not happy. so can you offer me what schwab is offering? what's with all the questions? ask your broker if they're offering $4.95 online equity trades and a satisfaction guarantee. if you don't like their answer, ask again at schwab. need a change of scenery? the kayak price forecast tool tells you whether to wait or book your flight now. so you can be confident you're getting the best pric

. >> i mean, bob pisani pointed out, we had a few fakeouts where it's time for value to shine over growthh resumes and tech darlings are in demand. is this time different, and are some of those tech stocks now looking like a good value with facebook trading at 23 times next year's earnings >> i think again in context, even with this 5% correction in tech, it's still tied for best sector year to date and crowns the s&p since the bull market began. short term i agree it's more likely to consolidate. there's going to be better areas of the market short term to invest in. whether that be financials and talk about industrials earlier if we have any positive news on the tariff side, i think there's still upside there and those are more value type sectors. i do think some of this rotation we've seen recently is likely to continue at least in the near term >> but keith, to your earlier point about being happy with 5% year to date you think the market is sort of tapped out here in terms of further gains for the year >> i don't think we're tapped out at all it is a midterm election year. it tends t

bob pisani is at the new york stock exchange bob, what are we seeing for the markets here it looks like we're still soft for the day. >> take a look at the s&p 500. we did drop down to the lows during the european close about an hour and a half ago essentially not far from that. but this is not a big decline considering this is a big number, the $200 billion look at the usual suspects in trade wars, they're the ones getting hit. usually semi conductors, materials and industrials weaken immediately. that's what we're seeing, sort of in line with the expectations energy down a little bit saudis are ramping up production so oil is down a little bit. the list of goods impacted by chaina, 200 pages long took me an hour to go through the whole thing this morning the most important one, it looks like all the furniture companies will be affected restoration hardware import a lot of furniture from china. apparel and footwear was not on the list and yet i saw handbags on the list so that's not going to make tapestry very happy, the old coach. michael kors also to the downside a lot of people have

bob pisani is tracking it all for us from the floor of the nyse hi, bob. >> hello, tyler. reluctant to say cbs news took the winds out of the market but it looks that way. taking a look at the s&p 500, we were trending downward a bit going into the noon hour but then that news came out and we drifted lower very quickly all the big momentum names, i'm talking about the faang stocks, they drooped a little bit after noon eastern time. facebook was up. amazon was at 1880 and now 1818. netflix, alphabet, apple, all went into the red. we're halfway through earnings season if you want a good example of problems companies are having, look at colgate. they say our pricing is flat packaging costs are higher and a strong dollar has had a negative impact on our earnings that means profit squeeze. margin squeeze overall colgate is down 11%, 12% on the year this is a problem a lot of these companies are having with higher costs. some of the big energy companies reported, exxon and chevron. they both missed but chevron announced a big buyback and these guys are real big on the dividends

""squawk box"" will unpack it all for you tomorrow morning let's go to bob pisani at the new york stock exchange. robert >> s&p futures rose three or four points. obviously the president expressing his desire for lower interest rates, that's certainly no surprise. we saw the s&p move up three points and basically back down yields down a little bit banks down a tiny bit. i look at this line from the president. then i see rates going up. rates certainly go up when the economy gets better. i think the fed raised 50 bases points so all of this sort of makes sense. what moved the market this week, interestingly, the president can usually move the markets not this week. better earnings and jay powell's testimony moved the markets. he was a big hit with the markets. powell talked about gradually raising rates for now. the market took for now to mean if things go bad, something goes sour, i'm going to stop raising rates. they like this talk about 2% inflation. very small numbers there they like that as well finally, the president is talking about the dollar and a little bit about europe. when y

i will bring in bob pisani because it has played out in trade related expectations.n up all day but is up significantly 1.5. you have energy doing well up 0.8%. >> industrials that popped the most there and that is not surprising. we had ford up. we had general motors up overall. so what is trade concessions worth? i think more importantly we will get back record highs. 2872 is the old high. we move 23 points today. we are within shouting distance of the historic highs of the s&p 500, mid cap and on the russell 2000 again. all of these have movedup here so it's not just the nasdaq 100. >> we will be focussing on facebook coming any minute. >> that is very important. overall watch for the industrials and materials tomorrow. >> we have ten seconds left as trade is still up 160 points on the dow. a full percent for the s&p. ringing the bell. it's limestone at the nasdaq. we are 170 points on the dow. >> and welcome to "the closing bell." let's take a look at how we are finishing off the day on wall street. very late in the 3:00 p.m. hour of trade a big rally on those do

. >>> ty opheim scott walker the markets are where we start bob pisani and mike santelli mike was yesterday shakeout in stocks. >> we have had a view where we had the incremental loud trade related henlts the market has the reflexes lower. it has to destabilize another part of the global markets whether emerging markets surntty processes. oil had a ugly sell off but it didn't develop into the rolling liquidation. the market because we had the good rally people thought we in a good chance of the s&p going to a five-month high we resume for for you. >> why is the market up today? and i call come in and everybody says well there is sort of vague hopes the chinese restart negotiations that apparently is enough to get things going i think the key thing is we're approaching that 2,800 market once again we have been here before you and i were here a few days aig talking about exactly this what's gotten us here this week most importantly is the the stuff getting all year tech stocks consumers be that means the fang names amazon up5% on the week. alphabet, apple with with, look at the gains when tho

rising costs are beginning to emerge as a major theme and weighing on some of the major stau stocks bob pisani joins us with more details. >> two major themes. if you're caught in the crosshairs of rising costs and a stronger dollar, you've got problems several companies the last few days talking about higher costs. general motors, whirlpool, illinois tool works, kimberly-clark even coca-cola talked about higher costs that stock is trading to the upside here's the other thing we learned. not all raised guidance is the same normally the market loves that ingersoll-rand, they're up but boeing raised revenue guidance, northrop raised earnings guidance at&t all these talks are down the ange the answer is it's not all the same here's the problem boeing is up 17% this year that's not good enough just talking about slightly higher revenues. we knew back in april that the earnings were going to be okay they didn't change the earnings guidance and that's why it's down today at&t, they talked about earnings in the high 350 range. i'm sorry, they have given guidance for 350 way back in april. that's not

. >>> now let's get back to the markets here bob pisani standing at at nysc on this summer friday. >>ver gain look at the sectors. the important thing is good weeks two weeks in a row now but the banks look, still polleding back we had the earnings statement for the big names not doing anything look at this here today. wells fargo outright miss. all the stocks to the oh downside the important thing is we need better numbers overall s that's what the market says here we had gootd the number at jp morgan but not much elsewhere credit growths was solid the yield curve is a problem look at the spread between the two and ten. down to 25 basis points. the banks getting killed on this yield curve declining overall. finally not a lot of concerns about the trade wars yet from most of the cfos they talked to at at this time ecitigroup as well jp morgan but we keep an eye on that. >> back to you. >> thank you bob the s&p may be hitting a four-month high but the next guest's fund is still not performing s&p so far the clear bridge large cap growth fund is up 12% versus roughly the 5% on the snch

. >> our bob pisani points out in some notes and he's been following your company that the stock price range. do you think that investors in some respects have had a hard time sort of figuring out what your growth trajectory is going to be? >> we are very unique. there has never been an ipo in the wealth management space. so it's hard to comp us. having said this is one of the most successful large financial services ipos since 2014 so the reception in the market has been outstanding you know, quite frankly, the story is resonating. >> you grow through acquisition as you have been doing >> well, it is a good mix between the same store growth of about 150% very significant growth through transactions >> what do you think the wealth management business looks like ten years from now do you think there's even human beings going to be involved in the is >> oh, absolutely. because ultimately the service we provide to our partners, to our clients is ultimately so close to, you know, how the family operates. it's so important how to invest your money this will not get replaced by computers. an