good evening, i'm dennis kneale. the biggest surprise in the markets today was what didn't happen, the dog that didn't bark, stocks didn't take a tumble and give up their gains after roaring 3% in a single day yesterday. i got to tell you, may be another sign i said on june 25th, this recession is ending right here right now. instead of stocks going into a pr profit taking tailspin, we have the nasdaq rising another 1.1%, nasdaq up higher as well. s&p 500 big company index, up almost 1% to a new milestone of 940. i'm sure we will see some bumps down tomorrow or next week. as i told you last night, this is a sizzle stock market, split personality, bipolar, recoveries never a smooth path headed only skyward. no denying, hope is on the rise. let's get to the real deal with dennis kneale and dissect this a little bit. signs this recession this recession is dead-end gone as i've been saying. also i have a couple recovery killers that could get in the way. they come mostly from the obama posse in washington. we'll talk abo

i'm dennis kneale. and an epic struggle between fear and greed is playing out in these markets lately, and you saw a lot more of it today. the dow crossed from up to down to up like 17 times today before settling to the upside a little bit. fear versus greed. i'm talking darth vadeer and luke skywalker, okay, darth vader and the forces of fear and darkness against luke skywalker and the forces of hope. in the markets, hope is the nice word for greed. you invest with the hope that you'll get rich. greed has so much moral judgment attached to it. too much, actually, especially when you're the pope which we'll get to a bit later. fear and greed are the yin and yang of the markets. you know the yin and yang, that chinese philosophy of balance from thousands of years ago that cold must be balanced by heat, light by darkness, the sour by the sweet. and in the markets fear must be matched by hope, and lately the yin and yang looks way out of balance. there's way too much fear. at the market lows, in early marc

let's break it down with the real deal with dennis kneale. a deluge of economic data, and it makes it clear. this recovery is now under way. if you don't like hearing it from me, pick up the new issue of "newsweek" magazine, take a look at that cover, folks. that's a party balloon celebrating it. and it says not only is the recession over, now let's debate what kind of recovery this will be. that's a nice luxury to have. when i declared recession over on june 25th, almost nobody agreed. i held up a big high-five, and the rest of the media left me hanging. now we have moved on to the next point of divergence between those who sell hope and those who apply doom. the extent of the recovery. everybody else says it's going to be tepid and weak. but i'm starting to wonder whether there is a case for a far better rebound than anybody expects. think about it. companies cutting back so swiftly and so deeply, that their earnings are popping right now. you've got demand and inventory so low for months now that there's bound to be a big snap-back, especi

tell which, i'm hoping it is a female groupie but i a guy or gal writes -- where is the love for dennis kneale's show.. she goes on to note my show doesn't get its own special page on cnbc.com like the other shows. it doesn't get any promotions during the day. why? i feel dennis 'show is one of the best on seef and is the most honest and fair reporting you can get. so dennis kneale, if you are out there, keep up the good reporting and looking forward to many more shows well beyond 2009. and then they add this. i love the blog segment.t. i look hard for the joke. for the gotcha. maybe some barber blogger will set me up and monday you will hear i got poked. then it occurred to me someone out there makes me feel a bit like sally field. they like me, they really like me. that's one down. and umpteen thousand anonymous pot-shot happy bloggers to go. bring it on, guys. and let's see. what i got here, dennis showed his star about two months ago and up hear nothing about it. no advertiser or commercials. okay, yeah. so good i want to repeat it twice. i love this blogger. thank you, ma'am or guy. especia

let's check in on dennis kneale what he has coming up at the top of the hour. >> a debate, do you believe in this country, i talked live with a guy in his castle, lives alone in a condo. >> all by himself. >> holy canoli. that looks great. after the break.

i want to turn it over to my great friend, dennis kneale for cnbc reports. dennis, that's all i've got, as somebody once said. >> what's good for wall street is good for the rest of us, too. let's keep our fingers crossed. have a great night. and "cnbc reports" starts right now. >> tonight on "cnbc reports," charge! the bulls start the week running after a big build-up last week. the dow up more than 1% today. more than 6% in a week. same story for the s&p. and the nasdaq. there are new signs of positi positivivity tonight. goldman sachs calls for a big jump. tonight we're picking winners. looking at the earnings out this week, and we're picking three stocks with a good chance of making a big move. >>> and a democratic revolt. >> this is an issue that affects the health and financial well-being of every single american. >> but based on new polls, health care is an issue americans aren't interested in changing. they're much more concerned about rising taxes. democratic lawmakers are starting to fire back at the white house, as the president's numbers fall. it'

the get the real deal with dennis kneale. the special coverage of this summer rally starts right now on "cnbc reports." ♪ ♪ >> good evening, i'm dennis kneale. stock funds in the summertime. the summer rally swooned into full swing, 83 point run-up on the dow, and almost full percentage on the nasdaq, and put all three indexes for new highs this year, came tantalizing close to breaking the 1,000 mark an important psychological mark and what it means with dennis kneale. this is the kind of summer rally that make s ts the bears howl i agony. sorry for your pain, guys, actually, no, i'm not. this gain comes amid an 11% rise in just two weeks, in spite of rise in weekly jobless claims today. that kind of news might have rattled traders a few months ago. let's look at it through the broader s&p 500 index of giant companies. today, we're up over 1%, close to 14 points of 1,000. it ended the day at 986, that's pretty good. it's within reach of that 4-digit milestone. i hope to see that. the lows of march. s&p is up 46% by my count.

let's look at it in the real deal with dennis kneale. the dow is now up 6% in three days. that is extraordinary. tech led this nice 3% lift in stocks today, about time. nasdaq rising 115 points in six days, the best six day run since last october. one key factor in this nice spurt, maybe earnings won't be so bad after all.. i predicted this days ago, alcoa reported earnings were less bleak than expected. the big question arises can this hot miniskirt of a stock rally condition and are the markets saying what i've been saying, the recession is over or was this nothing more than a short squeeze and stocks will head back down soon? that dichotomy, fear versus hope all over again is more bitter than i have ever seen. that spans two decades covering the "wall street journal" and forbes and now cnbc, this is a bipolar market, a sybille with a split personality. three simple charts will show you what i'm talking about. since july 7th, the dow is up 3 1/2%. ain't that nice? that feels so good to look at that, doesn't it? zoom out and look at two weeks of the chart. you see, oh goo

it's the real deal with dennis kneale, "cnbc reports" starts right now. >> good evening, i'm dennis kneale. now do you believe me. i'm selling the hope on this show every night for three months. one month ago i declared this recession is over and this week, the stock market responds with a standing ovation. the dow actually added another 25 points today, s&p up a touch and nasdaq fell only a smidgen. that is a surprisingly positive end to a week in which stocks already climbed up 4% higher. what happens next week? will we feel the sting of correction and profit taking sell-off or will we see expansion of relief and hope beginning to crowd out this overdose of fear that has punished us for the past year. let's check it out in

here again is dennis kneale. >> all right. so they have government gone wild, plans for a plethora of new taxes, the first inkling that the feds may want to spend another trillion dollars. never mind they have been incompetent in spending the first 10% of the package they pushed through in january. america voted for change when it elected obama. i didn't understand that change meant a change backward to big government and tax and spend policies. i was hoping change meant better government. more efficient. more mature. less fraternalistic. presiden obama is making a rookie mistake here. every time a problem pops up, he wants to struggle to do something about it, right away. but good government policy is like a good jazz trumpet solo. sometimes the most important part is the notes you leave out. it's the silence in between. a lot of bad has been done by government in haste, sarbanes-oxly is one example. passed in 48 hours and it continues to hurt smaller companies. the unemployment rate goes up .1 point and washington wants to r

i have to turn it over to my great pal, dennis kneale. good evening, dennis. >>> we just saw home prices rise for the first time in three years. well, so there's no doubt things have gotten better. >> yeah, we know. so tonight, we're moving on to health care. the blue dogs, key democrats that may have been holding up a deal agreed to one. we're on the edge of having national health care there. are still lots of questions about what it will look like, what it will mean for you and your family and what it will mean for your money and the markets. tonight, you're fully covered from health care and pharma stocks to the halls of power on capitol hill where the battle has just begun. >> it will be a job killer. >> you will probably loose your health insurance and might just lose your job. >> if you like your doctor, you keep your doctor, if you like your health care plan, you keep your health care plan. these folks need to stop scaring everybody. >> the fight rolls on right here right now. this is a special edition of "cnbc reports," the future

this guy says that dennis kneale recovery is the way to go.you type that in you get over 50,000 entries so you bloggers work through the weekend. you have a lot of work to do to get that idiot rating up there. thanks for watching. have a great weekend. see you monday at 8:00. [ engine revving ] [ engine powers down ] gentlemen, you booked your hotels on orbitz. well, the price went down, so you're all getting a check thanks. for the difference. except for you -- you didn't book with orbitz, so you're not getting a check. well, i think we've all learned a valuable lesson today. good day, gentlemen. thanks a lot. thank you. introducing hotel price assurance, where if another orbitz customer books the same hotel for less, we send you a check for the difference, automatically. you must be looking for motorcycle insurance. you're good. thanks. so is our bike insurance. all the coverage you need at a great price. hold on, cowboy. cool. i'm not done -- for less than a dollar a month, you also get 24/7 roadside assistance. right on. yeah, vroom-vroom!

let's look in the real deal with dennis kneale. stocks had risen 700 points in only six days of trading up to today. july 14th, right up to today. nice 9.4%. that's almost a 10% gain. i was surprised the dow creeped up another 68 points to 8915. that leaves it to within 5% of the 9,000 mark. 14,000 in october, 2007. it's too de pressing to think about what happened all the way down here. now, look how far back up we are comi

one arodite observer says, "dennis kneale fondles cats." shrewd competitive intelligence from another poster, "is that a dead squirrel on his head? someone should hit it with a broom." there's this one, the bottom will come l when kramer and company are dragged off the cnbc studios and hung from meat hooks with piano strungz. i don't think you mean hung. i think you mean hanged and it's not piano strings it's piano wire and that's what the nazis used meat hooks and piano wire? point taken. shame on all of you guys. i'm dennis kneale. "cnbc reports" is back at 8:00 monday. thanks for being with us. have a great weekend. wyou must beressive.com. oking u're gd. thanks. so i our bike insurance. all the coverage you need at a great price. ho o cowboy. cool. i'm not ne -- for less than a llar a month, you also g 24/7 roadside assistance. right on. yeah, vroom-vroom! sounds like yoran a 500. moreikea 900 v-twin. excuse me. the righinrance for your re. now, at's progressive. call or click today. we have ever created. it is the most adnced automobil

, the insightful anna lytic dennis kneale at 8:00, top of the hour. we'll be right back. undefeated professional boxer floyd "money" mayweather has the fastest hands boxing has ever seen. so i've come to this ring to see who's faster... on the internet. i'll be using the 3g at&t laptopconnect card. he won't. so i can browse the web faster, email business plans faster. all on the go. i'm bill kurtis and i'm faster than floyd mayweather. (announcer) switch to the nation's fastest 3g network and get the at&t laptopconnect card for free. >>> the stage is set for health care showdown with senator chris dodd, democrat for connecticut. he is at the center of the storm. our own john harwood spoke with senator dodd a short time ago. is this package too big to fail? is this package too big to succeed? >> reporter: well, i think it could be either one, larry, i don't think we know yet. i talked to senator dodd both about health care reform and financial regulatory reform a subject you care about a lot. another thing striking about his comments was the way he wen

. >>> let me turn this over to my great friend, dennis kneale as "cnbc reports" right now. >>> this horrible frightening recession is ending now. >> it's no longer a one-man war, new firepower in dennis' attempt to end the downturn and the key report, from merrill lynch, the recession is over. goldman sachs and johnson & johnson. the money is pouring in. all is not well in neal's world. new details in the president's push for health care. >> we will not add additional debt to the american people and we will produce a product that will give to the american people that will give a sense of stability and well-being. >> translation, new taxes are on the way, who will pay and how mu much? we have a lot to fight about tonight. "cnbc reports" starts right now. >> good evening. i'm dennis kneale. the recession is over. let me repeat that. the recession is over. i've been telling you that for two weeks now. tonight, i'm not being redundant for a change. tonight, i'm quoting the head line from major new report out today from merrill lynch, one of the largest brokerage firms in the world. merrill says

call it dennis kneale accounting.et a couple of normal seasonal housing starts, housing sold and every idiot on tv claims the recession is over and we have a housing bottom and blinders says, "sorry, but it doesn't work that way." actually, sir, oh, yes, it does. it's all about the anticipation, baby! that's why stocks start rising six to nine months before the economy reaches a turnaround. less work is the new up guy and it will lift our spirits and make us feel better and that will help this recovery fare better than most folks expect. i'm dennis kneale. that's all for us tonight. "cnbc reports" and i are back at 8:00 tomorrow. thanks for being with us. crest pro-health provides... ...unbeatable protection against plaque and gingivitis vs. the leading mouthwash. it kills 99% of germs, helps prevent plaque

anyway, dennis kneale, what have you got cooking? do you think sotomayor -- this is your dennis kneale opinion, is a moderate or a big liberal lefty on businesses and market type decisions? is. >> i think if she weren't a big lib rap lefty, she would not have oh gotten the nomination. but that doesn't matter, because she is going to get approved. so my as well brace for it. a lot of times we put a liberal on the court and they end up surprising us. >> could she be a free market capitalist? do you think you'll hear that from her on court? >> no, i don't think she can. just all consumers, all victims. >> thanks. >> and cnbc reports starts right now. >>> tonight on "cnbc reports," the markets jump, are traders and investors starting to come around, starting to warm up to dennis's big call? >> this horrible, frightening recession is ending now. >> despite the upturn, there are plans in washington that could roll it all back. dennis is a one-man fighting machine tonight against higher taxes. jiffy care. a new plan that could change the wa

let's check in with dennis kneale who will gives you great stuff. >> we have a great stuff. market rally, does it say the recession is real as i say it is. and an icon of the porn industry, larry flynt. >> larry flynt. i want you to dial up because i want you to see my friend, dennis kneale, i don't know about that other guy. dennis is one of the cleverest creative guys in this newsroom. we are "the kudlow report." we're coming back not for porn but for more good advice. announcer: what are you waiting for? all around the world, men with erectile dysfunction have asked their doctors about cialis. ask your doctor if a cialis option is right for you because in addition to 36-hour cialis, there's another dosing option: cialis for daily use, a low-dose tablet you take every day so you can be ready anytime the moment is right. man: tell your doctor about your medical condition and all medications and ask if you're healthy enough for sexual activity. don't take cialis if you take nitrates for chest pain, as this may cause an unsafe drop in blood pressure. don't drink alcohol in ex

. >>> an update on the real deal with dennis kneale. coming up, we have joe and dennis paulson. they will debate the summer rally and the china attack and talk about yahoo and microsoft. two bricks that can't fly. all that and more. please stay with us. we are "the kudlow report." it's the chevy open house. and now, with the cash for clunkers program, a great deal gets even better. let us recycle your older vehicle, and you could qualify for an additional $3500 or $4500 cash back... on top of all other offers.. on a new, more fuel efficient chevy. your chevy dealer has more eligible models to choose from - more than ford, toyota, or honda. so save gas... and money... now during the chevy open house. go to chevy.com for details. you know why i sell tools? tools are uncomplicated? nothing complicated about a pair of 10 inch hose clamp pliers. you know what's complicated? shipping. shipping's complicated. not really. with priority mail flat rate boxes from the postal service shipping is easy. if it fits, it ships anywhere in the country for a low flat rate. that's not complicated.

let's check in with dennis kneale and see what he's working on. >> the recession is over, job losses, to the heck of them. we have the silliness of a stim pack. >> how you can ignore the job losses? the jobs are going south, not north, my friend. >> in january, february, we were losing 600,000, 700,000 jobs this came in higher than expected with 467,000. and the latest ism numbers say it could go down to 300,000. >> when will it go up to 0,000? >> probably 2010. >> "the kudlow report" will return aft this brief message. [ quee] want your longwear to givyou more? we, get on out of that departnt store. and to covergirl outlast. no deptment store longwear gives you so many different wa more ces, more shades, morouast. ♪ covergirl thrive on collaborn with the world's leing companies. together, wee helping to shape the exchging world. nyse euronext. powering the exchanng world. a heart attack at 53. i had felt fine. t turns out... holesterol and other riskacrs... increasemy chance of a heart attack. i should've done something. now, i trust my hea to lipitor. when diet and exercise are not

i'm dennis kneale, thanks s fo being withus.back totomoowow a 8:00. >>> more thahannyny other profesesononal sport, nascar is fufuel by sponsorship dollars. how will it survive ininhehe crashingng enonomy e-side track, refuelling the siness of nascar. feature of cnbc next. yorerehe colon lady! dirhrheaconstipation, gas, b batatin that's me! can i tell you atat aifference phillips' cocolohealth has made? 's'she probiotics. the e go b bacria. at gets your colon ckck ibalance. i'm good to go! phillips' ' con n heth. i i ho h hhaflac!t insurance. you u alallyeed it these days. how comeme? well if you'rere ht t ancan't youwork it pays y y c cas..ys. yeah to helplp whh everydays like gas, the mortgagege.. it's like insuraraee for daily living. .....wt's it called? uhhhhh it's like insuraraee foaflaaac!!!!!!g. oheaeah!that's it! aflac. we've gogot u u unr our wing. a-a-a-a-lalaaa

let's check in on dennis kneale what he has coming up at the top of the hour. >> a debate, do you believe in this country, i talked live with a guy in his castle, lives alone in a condo. >> all by himself. >> holy canoli. that looks great. after the break. >>> we want to bring you up to date on breaking news. the fcc has sent a letter to am and at&t, they're launching an in dwy inquiry them over the rejection of the apple rejection of google voice for iphone and remove related third party applications from its ap store. that's what they ask from the worldwide government affairs. did apple act alone or in consultation with at&t in rejecting the applications does at&t have any approval of apple applications in general and please explain any differences between google iphone applications and voice-over internet protocol applications.. once again, fcc launching inquiry into apple and at&t over apple's rejection of the google voice app for the iphone. we knew this administration would be very interventionist when it came to anti-trust and fcc, also getting very involved here as well. we're wor

. >> i'm dennis kneale, the president focus squarely on health care to rescue this plan and john harwood is inside the east room to rescue this plan. what should we expect. >> reporter: we can expect the president will weave together his arguments on health care and the economy very much on the minds of the american people with unemployment having hit 9 1/2% and he has a lot of legislation in motion on the hill in the house and senate. >> president obama has to snatch victory from the apparent health care jaws of defeat. they will go out for the august recess with no bill and b, apocolypse now, i see this as straight up, free market capitalism versus nationalization socialism. >> reporter: you can frame it that way, but i don't think we're near the jaws of defeat yet. for 70 years people have tried to get comprehensive national health care reform. you still have motion in all of the important committees in the hill, you have the finance committee bipartisan negotiations, now likely to drag into next week, not likely to produce a bill by the end of this week, as many people had hoped. we'

let's check in with mike, the he haver vesent and brilliant dennis kneale. >> tonight i defend goldmanappy for anybody on wall street making a profit. i'm going to look at why it will be a good thing if the feds will stay away from cit. and lastly, let's look at the business of doom-sayers. are they really that scared, larry, or just talking their book? >> all right. i'll let you visit with barry ritholtz. deninis neal, 8:00 p.m. at the top of the hour. my name is larry kudlow. "the kudlow report", straight ahead. at55 miles per hour, andy roddick has the faest serve in t history of professional tnis. so i've come to thisourt to challenge his spe ...on e internet. i'll be using the 3g at&t laptopconnect card. he won't so i c book travel plans faster, check my account balances faster. all on the go. i'm bill kurtis and i'm ster than andy roddick. nnncer) "switch to t nations fastest 3g network" "and get thet&t laptopconnect card f free". mr. evans? this is janicerom onstar. i ha received an automatic snal u've been in a front-end rash. do you need help? yeah. ll conct emergency services

i'm dennis kneale. see you tomorrow. oof! i hope he has that insurance. aflac!y need it these days. how come? well if you're hurt and can't work it pays you cash... yeah to help with everyday bills like gas, the mortgage... ...and groceries. it's like insurance for daily living. so...what's it called? uhhhhh aflaaac!!!! oh yeah! that's it! aflac. we've got you under our wing. a-a-a-aflaaac! [ engine powers down ] gentlemen, you booked your hotels on orbitz. well, the price went down, so you're all getting a check thanks. for the difference. except for you -- you didn't book with orbitz, so you're not getting a check. well, i think we've all learned a valuable lesson today. good day, gentlemen. thanks a lot. thank you. introducing hotel price assurance, where if another orbitz customer books the same hotel for less, we send you a check for the difference, automatically. you could buy 300 bottles of water. or just one brita filter. ( drop plinks ) brita-- better for the environment and your wallet. >>> this is a cnbc special uu6g event. one billionaire. one netwo

first, let's talk with dennis kneale and see what he is cooking up. >> larry, i'm going to do a bit of gloating tonight. declared end of recession a month ago. and today on the cover of "newsweek," recession is over. so a special message for those bloggers. >> dennis coming up at 8:00. stick around. we'll be right back. so, what's the problem? these are hot. we're shipping 'em everywhere. but we can't predict our shipping costs. dallas. detroit. different rates. well with us, it's the same flat rate. same flat rate. boston. boise? same flat rate. alabama. alaska? with priority mail flat rate boxes from the postal service. if it fits, it ships anywhere in the country for a low flat rate. dude's good. dude's real good. dudes. priority mail flat rate boxes only from the postal service. a simpler way to ship. announcer: some people buy a car based on the deal they get. - others buy the car of their dreams. - ( beeps ) during the lexus golden opportunity sales event, you can do both. it's an opportunity today. it's a lexus forever. special lease offers now available on the 2009 es 350. >>>

let's check in with dennis kneale. >> first of all, yes, the recession is over..second of all, stocks up 7% this week. should you sell? i think no. >>> and also, obama's desperate plea on his health care plan and goldman/jpm, the democratic liberals are outraged, but is this what we should want? >> paul krugman's attacking goldman sachs, huh? a last resort of scoundrels. . >> all right, buddy. have a great program. we'll brp. it's quiet on the home front-- not a lot of activity. you read the news. and yet, some people need to sell and other people want to buy. this is a moment of challenge and opportunity. fortunately, re/max agents have the experience to help you meet the one and recognize the other. thanks. because the future's counting on us. nobody sells more real estate than re/max. >>> stocks say yes. is the recovery treal deal? we've got peter schiff, the author of "the little book of bull moves in bear markets," and we've also got peter morici. peter, you're still on the pessimist's side, i take it? >> sure, the stock market goes up and down, i wouldn't tr

joining us is jim goldman and cnbc's dennis kneale is here look with our power player here, jack ablinter ever they didn't show 10% growth. what do you want to hear from the company?? what will satisfy the treat? >> yes, hi. if you look at last quarter, google had a couple headwinds. the macroeconomic environment was difficult. they were facing foreign exchange pressure as well. if you look at second quarter, you know, what we think we're looking to hear from the company whether things have stabilized or not and what kinds of discussions they're having, you know, and second thing, we also would like to hear what they're doing to manage their costs during this different environment. >> dennis, do you think that's the most important thing? >> it's seen as the cipher for tech and the appetite for tech stocks, but it's a nice pulse on the economy. advertising is the first thing companies cut when the economy heads down, lastr last thing to come up, and i'm interested in that line. right, jim? >> yeah, dennis. i think you're absolutely right. this is a key barometer for the broader economy.