. >>> hip-hop mogul 50 cent and david kelly pairing up on "power lunch." if that is not a marriage made in heaven, i don't know what is. >>> here's what else is on the menu. >>> i'm jim goldman. apple will host a major event tomorrow, unveiling a refresh to the i-pod line. steve jobs, his return to the stage after a year away from the public eye, which is the news apple investors might be looking forward to the most. >>> tired of hearing about cash for clunkers and struggles of gm and chrysler? how about the ultra luxury car market. we'll talk about the new models for the wealthy that are rolling out soon. >>> summer vacation's really over now and if president obama and his party are going to deliver a health care reform plan, the time to do it is now. tomorrow night before the whole country, he's going to try to persuade the rank and file. >>> major averages are higher. matt nesto kicks it off at the new york stock exchange. >> we're higher here for a third day. just 25 points for the dow, about 6 on the s&p. you look at the leadership here. it's the ener

. >> that was david kelly sitting to his right. a little awkward moment for david kelly. in fact, let's take a look at it one more time. >> i need new -- i need advice. >> got a nice suit on. >> he's blushing. but i'm sure he'll take mr. cent's business. all right, don't go anywhere, we've got -- >> mr. cent? >> well, you called the ceo -- >> he's got inflation. >> mr. evans. so mr. cent. we've got lots more word on the street on the way when "fast money" comes right back, including the man who took down aig today and a sector trade on chocolate. don't go anywhere. >>> tomorrow -- obama's taking the fight from the town halls straight to the capitol. your next money move in this high-stakes game over our health. >>> and all eyes on apple's secret event tomorrow. can apple keep wowing when they've already done it all? >>> plus, the pit boss survived the implosion, and he's wiser for it. it's your lesson from lehman. um bill-- why is dick butkus here? i hired him to speak. a lot of fortune 500 companies use him. but-- i'm your only employee. we're gonna start using fedex to

david kelly, the chief market strategist at jpmorgan funds and 50-cent.o say his name. this guy has the midas touch in the business world. >>> also, we're looking back one year after the beginning of the meltdown in our markets. soul searching about investing. does buy and hold strategy still work? diversification? >>> plus, oliver stone's back on wall street today as he begins filming the remake of his cla classic film, wall street. >>> up next, sales for the ultra luxury automakers may be down, but they're not counting out the u.s. consumer yet. >>> and releasing new models new out this fall. you're watching cnbc, we are first in business worldwide. >>> the world's producers -- much larger than wall street's estimate. this due to low prices and weak export demand. right now, the stock is off about 2%. smithfield foods, on the downside. >>> the news on gm and chrysler have been dominating. they're getting ready to introduce some new models out this fall. >> there's a market out there and they're going to have a lot of choices. people who are wealthy enou

david kelly, eric, thank you both very much. appreciate it. >>> coming up, highlights from our exclusive interview with tiger management julian robertson. why he says it will be armageddon if the chinese and japanese stop buying our debt. mark, note i didn't say sell, i simply said stop buying. >> except i've been hearing that for 20 years. >>> and the mayor of pittsburgh on his plans to capitalize on the international spotlight and keep investment flowing into the city of three rivers after the g-20. you're watching "squawk on the street." have some fun with that truck. vroom... vroom. okay, time's up. here ya' go ! that's a nice one, i made that. that's a piece of junk. yeah. i want the red truck. well, you can't have the red truck. see, that was a limited-time offer only. it's, ah, right here in the fine print. even kids know it's wrong to hide behind fine print. why don't banks ? we're ally, a new bank who always gives you a great rate, with nothing buried in the fine print. it's just the right thing to do. >>> and that is d

david? >> kelly, as far as what's next, presumably at some point they'll get through all these amendments, the committee will pass something, it then goes to the full senate. they'll be merging this bill with other bills from other committees and try to merge it with the house if the house gets its act together and passes something. does this mean the public option is essentially dead? >> reporter: well, that is really the critical question, and i think the vote today strongly reflects that the senate doesn't believe it has a chance. but is it dead, really dead? there is still a chance that the president could weigh in. you described how all the bills will be sort of put together and one final result will be put before congress. will that have a public option? senators say no. members of the house say it's still possible, and top negotiators say they will be focused more on the white house to get the president to weigh in. would he sign a bill that doesn't have a public option. you know, he advocates

david kelly, chief market strategist with jpmorgan fund. and the group chairman and cio. thank you both for joining us. let me start with you, susan. what do you think of today's action and how about all the people that say september was going to be a tough month? we're obviously not out of the woods. we've got a half a month to go. what do you think of that sentiment now? >> i think the people who bet that way are sorry they did. a lot of the action you're seeing are in the most controversial stocks, melting up. i assume there are a number of bets placed against them, and that that is going against a number of people now. i think it is pretty impressive. but i think a lot of it's because people don't really know how to put a valuation on a number of industries, particularly in the financials. because what is bad to come, we don't really know yet. we know that this is a very profitable time. because of a positive yield curve. we really don't know what is going to be written off against those earnings over the next two to three years. there's no information, so you can kin

david kelly at jpmorgan funds tearing up on power lunch. fifty is going to tell us about the economy and david is going to rap. find out you how they plan to get rich or die tryin' live and censored at 1:00 p.m. today. >>. go for it. >> that's still your read it. >> says that mark was supposed to say word to my peace. >>> and mark felt that would be really stupid to say. >> all right. now it's your read again, mark. >> yes, it is. >>> up next, from fifty to two of our own dime thesis. >> i don't get that one. >> ninth to 'do ice, it's the triumphant return of the c ochk and the brain. they are tackling big swings. >> why have so. you been click on jp morgue? is it because the stock is above 160%. >> six months ago today or tomorrow. >> tomorrow. that's right on the ninth. is there something else at play? we'll ask jeff hart. you're watching "squawk on the street." we'll be right back. it doesn't cover everything. and what it doesn't cover can cost you some money. that's why you should consider... an aarp medicare supplement insurance plan...

kelly clarkson. tomorrow night, david alan grier, a 10-year-old vacuuming expert and pink will be on the show., christian slater, rachael ray, jenna elfman, ed o'neill and sofia vergara and shakira will be on the show. are you excited about that? are you a shakira fan? >> yes. >> who are you more excited about, sofia vergara or shark? >> both. >> both. this is guillermo, our parking lot security guard. applauding himself. [ laughter ] by the way, i want to say hello to uncle frank who's back on the job with us after -- uncle frank, how you feeling? uncle frank was in the hospital getting a vasectomy and he took off a few days. everything came out all right? >> yes, i'm fine. thank you. >> all right. no more unwanted kids, you program us -- you promise us? >> yeah. >> you know matt damon, the actor. i personally have a complicated relationship with him. matt has a new movie called "the informant" that almost did not make it to the screen because some -- i guess some of the footage got damaged an they had to reshoot a key scene, but matt couldn't make it to the reshoot. why couldn't he make it a

and then david tyrese. and kellyown the pike. >> it's for kids, bob. >> speaking of usc, my wife went to clem son. calls it the university of second choice. to me, i find that offensive myself. let me show you what it looks like. if you're doing any kind of traveling, one-hour or more delay around chicago. rain showers coming in. it's going to be windy, blustery out of the north today. new york city metro, half-hour delay there. atlanta, showers. and fog in san francisco. >>> there are a couple of new science fiction movies out today. how do you choose what's good? mr. moviefone will tell you. >> welcome to comcast local edition. my guest this hour is dr. faye williams, national chair of the national congress of black women. thank you so much for joining me. >> it's always great to be here. >> now, for those that may not know, what's the mission of the national congress of black women? >> well, we are an organization that works with the community, mainly with young people. we have a program for 9-12 years old where w

next week our guests include eva longoria-parker, christian slater, david alan grier, ed o'neill, sofia vergara, pink, kellyrkson, shakira. and we'll have a very special appearance from matt damon, so mark that all down on your calendars. this is my cousin sal. oh, i almost forgot, i want to welcome a special visitor from disneyland we have to the show. a young man who worked in the chicken fingers department at disney land. he was talking before the show about how much he loves us there. >> i thought you said he hated it. >> no, he absolutely loves it, he thinks it's the best place -- >> in the warm-up it sounded like he hated it. >> i know it sounded like that, but i think he was being sarcastic. >> we can give him a job -- oh, no we're disney too. >> the citizens of los angeles are looking for release from the heat and we sent our cousin sal to a frozen yogurt store to help them cool off. >> hello, ladies. what can i get you? >> can i get a small raspberry poem grand gnat. >> a small raspberry, okay. small, here's your change. >> that's not -- that's a small? >> all right. have a good day now. bye. thank

kelly." today -- star of the drama "bones," david borrowan nass. and from the new

. >> julie: well, kelly, the left wing group acorn suffering yet another blow. new york governor davidng state agents put a hold on contracts with the group and its affiliates. this follows the release of undercover video of two acorn employees in brooklyn, apparently advertising a supposed pimp and prostitute to lie about they are profession. and earnings on top of it. in new york, the group received 1.8 million dollars in state funding since 2003. >> water troubles just outside of baltimore, take a look at this mess we're showing you, that's an ugly mess right there for people living there. submerged cars, a major roadway collapses, and people forced to flee in boats? we'll tell what you happened. and then, the probe into possible abuses of terror suspects. why are so many former ceo directors concerned. coming up, a conversation with representative pete hoekstra, he's a ranking member of the house intelligence committee. this is my small-business specialist, tara. i know landscaping, but i didn't know how wireless could help my business. i just don't know how wireless can help my bu

. >> kelly, how many more amendment does they have before the markup of this particular committee is done? >> reporter: it seems like a zil yin, david, gone more than 230 of the original 564 and the goal at this point is to finish up the markup, that's the term for this process, by friday and then next week, the committee would be able to vote on all of the previsi revisions we have been talking about this week. they won't get to 564. the process reaches its conclusion, members who have been negotiating all week begin to sort of put to the side those issues this they think have been dealt with, so we can see a light at the end of the tunnel but work until 11:00 tonight. >> nbc's kelly o'donnell. thank you very much. >>> the bigger picture, the health care amendment and debate continue like the public option and abortion, the rhetoric on the house floor is again fueling controversy. republicans demanded an apology today from democratic congressman from alan grayson for what he said on the house floor last night. watch. >> the republican health care plan is this, die quickly. that's right. the republicans want you to die quickly if yo

david shuster live in washington. >> i'm tamron hall live in new york. >>> we have breaking news on the house floor involving congressman joe wilson. go live to kelly o'donnell on capitol hill. kelly, a lot of the weekend conversation who would apologize and who would not and now we have got some movement here. what happened? >> reporter: exactly that tamron, people who wanted to see joe wilson go to the podium on the house floor and say i'm sorry. he a appeared on the house floor and ready to talk but apology was not on his mind. he, instead, wanted to talk about some of his experiences during the august recess, he saw the largest town hall meetings in south carolina history, that was his claim. he described people there as passionate. he went on to say that in his view, people want health care reform but not what he called a government-run takeover. so, what wilson wanted to do was defend the underlying position that he had that erupted in that much controversial outburst during the president's speech last week. now, democrats in leadership say that because wilson has refused to apologize for his breach of decorum that they are drafting a resolut

you've got david tyrese, famous super bowl catch complete with the play drawn up right there. and kelly a little surfing, right down the pipe, as they say, richard, which as you probably know, quite the west coaster. >> and i like water sports. you probably bought that for yourself, didn't you? >> no, they sent it. >> you can admit it. >> i got no kids. >> not yet. >>> today we're going to talk about movies. new movie friday. bruce willis is back in the futuristic action thriller "surrogates." he plays a detective on the trail of some robotic surrogates that may be killing their human operators. >> jumped from bridges, been shot, even blown to bit without their operators. >> what about a human head? what would cause one of them to blow up? the batting cages... down by the lake or... fishing at the shore. i'm breathing better... with spiriva. announcer: spiriva is the only once-daily inhaled maintenance treatment for both forms of copd, which includes chronic bronchitis and emphysema. i take it every day. it keeps my airways open... to help me breathe better all day long. and it's not a