something like exxonmobil. exxonmobil, has, well, oil at $70, exxonmobil would do well at an inflationary market. with the vix coming in at 2% this week, it points to the market is likely to bounce sideways for a while. >> i just want to cut in here. >> mike is going to say -- >> we're at a huge inflexion point in the market. we can't get through this really big resistance level at 1015. the implied volatility has come out of the market. buy yourself some protection. it's there. it's cheap. you know what, it will help you sleep at night. >> i agree with that wholeheartedly. we're not saying the market is going 20% higher but it won't go 20% higher without the participation of some of these names. >> right. >> we're going to need to see some evidence the consumer is part of the recovery. and these names are going to be part of that. >> i think everybody here on the desk basically believes we are going to see a sideways market, we're going to chug along. you have a good overriding strategy that could provide deal

exxonmobil is spending more than 100 million dollars...to build a plant that will demonstrate this process. i'm very optimistic about it... because this technology could be used... to reduce greenhouse gas emissions significantly. ♪ trading up to appliances that work hard... and taking advantage of lowered prices that are loaded with freebies-- like free delivery and free haul away that are hassle-free. maybe all that will make those big purchases feel less big. more saving. more doing. that's the power of the home depot. save 10 percent on appliances of $398 or more from brands like ge, maytag and lg. >>> making peace over a beer at she white house the beer summit got us thinking about alcohol and ourmanders commanders in chief. all presidents toast with acmpa champagne.ar until obama it has been rare tt ap president drink a beer in public. here is president roosevelt who had no problem sipping a cocktail and smoking an cigarette in front of the cameras. president bush doing a toastac with vladimir putin in 2001. bill clinton with russian

exxonmobil is the story here. john d.kefeller, one of the founding fathers, he set forward the strategy for this company, and the strategy going forward works. it's in place. five-year dividend growth rate up around 10%. balance sheet $31 billion worth of cash. they're going to use that going forward.d. and what do they do? they set a strategy forward that year on year, they're going to give you returns that beat their competition. year on year. what are they going to do with their stock? they're going to reduce the number of outstanding shares, and when they get involved in a project, an exploratory project, they make sure that it has a high rate of return. now, combine that all with the energy story. the global energy story right now, the emerging world -- everyone, everyone right now from the merging world needs energy. look at chinese auto sales, robust. and if you look going forward, look at the global oil fields. they are antiquated. no one's spending any money right now investing in new production here domestically

exxonmobil is spending more than 100 million dollars...onstrate this process. i'm very optimistic about it... because this technology could be used... to reduce greenhouse gas emissions significantly. ♪ . .  neil: what is a couple of billion bucks? that's what we need to hear, right? all you need to know. a democratic supporter of the cash for clunkers program arguing for its extension. after all, it has been an unqualified success so many customers at so many dealerships so soon, that the government's plan ran out of dough so fast, so more dough, fast, because as he pointed out, we're only talking a couple of billion bucks. i guess he had a point. what is a couple of billion compared to maybe a couple of trillion for healthcare or close to a trillion for stimulus or hundreds of billions for banks an close to that for auto companies? chump change if you think about it. a mere rounding error compared to those sums. he's right, but that doesn't make throwing more money at a program right even if the program is

exxonmobil is spending more than 100 million dollars... to build a plant that will demonstrate this process. i'm very optimistic about it... because this technology could be used... to reduce greenhouse gas emissions significantly. ♪ >> welcome back everybody. before we move on i want to acknowledge give our c condolens and congratulations to the family of navy pilot scott spiker shot down on the first day of the first golf war in 1991. he had been deemed missing in action they thought he was missing and captured. they have finally recovered his remains and the president of the united states says of captain michael scott spiker the news that captain spiker's he remains have been recovered is a reminder of the selfless service that led him to make the selfless sacrifice of our freedom. we remain steadfast in our determination to bring our american heroes home. found after these many years, he is coming home soon. thank goodness for that. >>> what about the allegation that boyd this guy went over there with the commies they will cut off the

exxonmobil is spending more than 100 million dollars...demonstrate this process. i'm very optimistic about it... because this technology could be used... to reduce greenhouse gas emissions significantly. ♪ of the world's most revered luxury sedan. this is a history of over 50,000 crash-tested cars... this is the world record for longevity and endurance. and one of the most technologically advanced automobiles on the planet. this is the 9th generation e-class. this is mercedes-benz. dploich we have a tip that a watchdog, constitutional watchdog sent me in a tip

exxonmobil is working to improve cars, liners of tires, plastics which are lighter and advanced hydrogen technologies that could increase fuel efficiency by up to 80%. >> glenn: i don't want you to miss a second of the show tonight. coming up in just a little while, i told you last night i was going to tell you themilit, beginning yo steps of things wo can do and i need to ask for your help because the system it a little overwhelmed but irw figure between the radio andete television show we have about ten million people every daye that tune in and watch andnd listen and i'm going to ask for you to be a part of our staff.a i'll explain coming et up.es >>> now, h 1-n-1, swine flu, ir early to late april it a represented about a third of all of the news stories on television but since may 11thes hasn't even been in the top five at once.ive it is bothering me because they are saying it is getting worse and worse and yet nobody ispayn paying attention.why sho why shouldn't the media take its eyes off a flu pandemic? the great i influenza. in january 1915 and 1916 edemi epidemic influenza hit.

exxonmobil is spending more than 100 million dollars...o build a plant that will demonstrate this process. i'm very optimistic about it... because this technology could be used... to reduce greenhouse gas emissions significantly. ♪ >>> eight years that will probably go down in history as the single dumbest merger ever, the marriage of aol and time warner that destroyed $125 billion in shareholder equity. expensive wedding. time warner is back. this is a stock that i like based on the great man theory of investing. there are some ceos, truly transformational leaders, who come in with the right vision and can turn companies that were once i suppose best word to say blah into great investments. and ever since the beginning of 2008 when jeffrey bucchus took over as ceo of time warner, time warner has been under the kind of amazing management that we love on "mad money." >> all aboard. >> carnivale. it's not the easiest time in the world to be a media company. who wants to deal with television properties when you have to fight tooth and nail ag

that's why you see exxonmobil to the downside but pfizer, at&t, and verizon are all in the green. >> scott, president obama appointing federal reserve chairman ben bernanke to another second term. the president set the tone for change in the financial system in his speech. >> that's why even though there's some resistance on wall street for those who would prefer to keep things the way they are, we will pass the reforms necessary to protect consumers, investors and the entire financial system. and we will continue to maintain a strong and independent federal reserve. >> a long list of goals ahead and not everybody's convinced bernanke should have been reapoined. joining me is a visiting scholar at harvard university along with roger altman, former deputy secretary under president clinton. welcome back to closing bell." >> thank you. >> marlin, what do you think about the reappointment of ber nan ski. >> i don't think this is change we can believe in to coin a phrase. bernanke was part of the greenspan federal reserve when they inflated the economy in 2004. he's been heading an organi

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exxonmobil be giving a little bit back today. it is a parent of this network general electric to the upside today. >> health care dominate the country's attention these days. a new poll shows increasing opposition remains to what has been a key part of president obama's reform proposal. when asked if they would favor or oppose creating a public health care plan, just 43% of those surveyed were in favor. that's down 3% since july. 47% of those surveyed now oppose a public option up 3% over the past month. 45% do say a public health plan would lower costs. that's up from july up about 4%. and only 48% now believe a public plan would limit access down four pounts. so while the president has made some progress on the issue, he still has a long way to go in selling this plan. the rest of that poll will be related tonight on nbc news at 6:30 and cnbc will bring you the results 6:30 p.m. eastern time. senator chuck grassley will be with us explaining why he is against a public option. >> the problem with the public option is the think t

exxonmobil is spending more than 100 million dollars... to build a plant that will demonstrate this process. i'm very optimistic about it... because this technology could be used... to reduce greenhouse gas emissions significantly. ♪ >>> the federal housing administration suspending taylor bean and whitaker, one of the largest lenders from making loans insured by the agency. the fha tas taylor bean failed to submit a required annual financial report and disclose certain irregular transactions that raised concerns of fraud a day after federal agents raided offices of taylor bean and colonial bank group following a failed financial deal between the two firms. >>> speaking of housing today, the national association of realtors tacked on another positive data point. pending home sales rose for a fifth consecutive month higher by 3.6% in june. is it enough to fuel a long running rebound in real estate and the greater economy or will it remain a roadblock for the recovery? thoughts from christopher mayor, professor of real estate at the columbia

exxonmobil is spending more than 100 million dollars... to build a plant that will demonstrate this process. i'm very optimistic about it... because this technology could be used... to reduce greenhouse gas emissions significantly. ♪ my daughter was with me. i took a bayer aspirin out of my purse and chewed it. my doctor said the bayer aspirin saved my life. please talk to your doctor about aspirin and your heart. i'm going to be grandma for a long time. >> larry: on friday night, greta van susteren interviewed rush limbaugh and you came up. let's take a look. >> let colin powell and whoever else thinks, let them lead the republican party, form their own third party. right now i don't know what colin powell stands for. i don't know what obama's doing, he agrees with or disagrees with. well, he did hint he doesn't like all of the spending, but then last december he said american people want higher taxes and bigger government. that's not republicanism. >> larry: go. >> yeah, what i said that he's referring to was not the american people want

exxonmobil is spending more than 100 million dollars... to build a plant that will demonstrate this process. i'm very optimistic about it... bause this technology could be used... to reduce greenhouse gas emissions significantly. ♪ >>> angry town hall protests. the birthers, accusations of naziism. what's behind the ugliness in this political di bait in this country? mom was diagnosed with moderate alzheimer's. it was tough news to hear. everything changed. i didn't know what to do. right about then, our doctor mentioned the exelon patch. he said it releases medicine continuously for 24 hours. he said it could help with her cognition which includes things like memory, reasoning, communicating and understanding. (announcer) the most common side effects of exelon patch are nausea, vomiting and diarrhea. the likelihood and severity of these side effects may increase as the dose increases. patients may experience loss of appetite or weight. patients who weighess than 110 pounds may experience more side effects. people at risk for stomach ulcer

in the oil sector you've got exxonmobil up about 2% and boeing also higher as well by about 2 1/2%. let's check the ticker right here. the other stories we're following on the "closing bell" ticker tonight, and we can tell you that shares of j.m. smucker gained today after the company posted earnings of 83 cents a share. it was better than the estimate. the estimate calls for profits of 80 cents a share, and it comes because of sales that were up 58% due partly to the company's acquisition of folger's. it was up nearly 4%. meanwhile, salesforce.com reporting its second quarter profit doubled on strong revenue growth. it also beat analysts' expectations. the company also raised its fiscal year and 2010 full-year expectations. and it got an upgrade to market perform from fbr markets. and the stock as a result had a big day, up 16%, as you see. caterpillar got a boost after announcing it is in talks with navistar. and the chinese automaker to set up a truck venture in china. the company helps the move will help break into chienas $22 billion heavy truck market. caterpillar moved today

against that on the pullback today, i bought exxonmobil. i bought sun corp. and i bought weatherford. i still believe in the coddy story and oil story as we work towards december 2009. >> they already had a move last week ahead of that move, ham burton, incredible option activity out there. as well as weatherford. they moved in front and last week you look at the oih, 99, got up to 110. failed again. here it is again at 108. i think you'll have an opportunity for that index to pull back, maybe get in even better levels, pushing back towards 100. you might be able to see something like halliburton, weatherford, diamond offshore, some of names a little better for us. >> china's been stockpiling things and they may be stockpiling things. have you to be very careful with commodities here. >> let's see an oil chart. i tell you what, guys, i still like to dabble with charts. here's what i find interesting. outside day, it expanded and took out some highs and in the previous day's lows, took it out. that's a trend reversal. but like anything in life, it's what i cal

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exxonmobil is working to improve cars, liners of tires, plastics which are lighter and advanced hydrogenechnologies that could increase fuel efficiency by up to 80%. [ male announcer ] best shampoo, self magazine. experts at good housekeeping agree. they gave it their seal. [ male announcer ] pantene delivers damage protection results leading salon brands can't beat. you be the expert. experience pantene. i have to climb stairs 20-30 times a day. now joint comfort is easier with new triple flex liquid softgels. the first liquid softgel joint supplement formulated to work in as little as 7 days. learn more at tripleflex.com. nature made. fuel your greatness. >>> on tuesday of this week, the white house pressroom turned party room. president obama and veteran reporter helen thomas both celebrated birthdays with singing candles and a wish, of course. president obama who turned 48 sang happy birthday to the columnist who turned 89. mr. mr. obama said they both had a real birthday wish, a real healthcare reform bill. >>> is president obama's 48th -- it's president obama's 48th birthday. isn't

exxonmobil is spending more than 100 million dollars... to build a plant that will demonstrate this process. i'm very optimistic about it... because this technology could be used... to reduce greenhouse gas emissions significantly. ♪ >>> welcome to the "fast money" halftime report, getting to the heart of the action as it's happening. august ticking off with this rally as the s&p 500 breaks above 1,000 for the first time in nine months. like having a baby. how is the smart money riding the renewed optimism? let's get the word on the street. and before that, joe, zach of river twice research, and straight from nepal, mike gerka of global funds. good to see you, before we get to the market, we want to recap this bank of america story. the sec charging bank of america with making misleading and false statements in connection with its acquisition of merrill l lynch. joe terranova, this is not about the material adverse change clause, this is about the whole bonus issue, about disclosing whether or not they were going to pay the bonuses. what d

exxonmobil is investing at record levels.ver the next four years, we're looking at spending more than $100 billion dollars in new energy related projects. we invest for the long term so we're able to help support the growth that we know the economy needs. but kellogg saw an opportunity to plus things up. we took out their peanuts... because adding almonds would be a plus. we'd be better off with less sugar. we traded milk chocolate... for the delicious taste of dark chocolate. also a plus. then we added 35% of your daily fiber... plus antioxidants, vitamin e, and zinc. ♪ fiberplus bars from kellogg. fiberplus so much more. >> schieffer: and back now with our power round table, bob woodward of the washington post psyndicated columnist kathleen parker and david brooks of the new york times. well, bob, your newspaper put on the front page this week what everybody kind of has been talking about in the car industry here and things are not going very well in afghanistan, and it looks like the commanders there are getting ready to a

disney and verizon beat analysts expectations, while travelers, exxonmobil and chevron all fell short. two pieces of good housing news. the kay schiller housing index showed the first increase in single family home prices in nearly three years and the commerceepartment reported single family new home sales were up 11% in the month of june. housing inventory also fell. the long awaited search partnership between microsoft and yahoo was announced this week under the agreement, microsoft will provide the search technology for yahoo's website. the alliance could run up against anti-trust concerns in washington. a summer rally a key economic number on friday and earning season stronger than many had predicted. so is the recovery finally here? joining me now to help answer that question is moody's chief economist, mark zandy. great to have you back with us, thanks for joining us. >> thanks for having me. >> what did you make of the gdp number, down 1%? we're still seeing contractions boy, that was a lot better than we saw initially. is this what you were expecting? >> it was better than i e

oil giant exxonmobil is now investin$97 milon i ploration and libya's national oil cmpany has partnership deals with eveone from ssia's gazprom to th italian git en to japanese from nippon oil. anysts callibya the most exciting investment opportunity in the wor with $50 billion of vernment contractson offer over the next three years. yet is notorisly bureaucratic a controlled by one family, british businesses depend on thek governmento he them compete. >> this is whe they do require politica expertise. people wo o can help them navite some the decisionmaking processe open doors. arrae meetings. arrangevisas. all sorts of levels. so,yeah, learly, bitish governme and gornments from otr markets to -- fr other countries,can help business considerably. >> reporter: the relatnship tween uk plc and the government is lose. because in bya, it has to be. businesses wilcertainly be glad th al megrahi was released on compassnate grounds, but were th lobbying for it, too? >> that was john sparksor itn. >>> for a closer look at britain's relationip with liby we are joineby jeff rter the head of middle

u.s.il companies like exxonmobil invested billions this is the newfound bonanz of oiln the planet. >>hina too wanted a share. it wouldelp build obiang a new capital ty. >> but it sn't just the great powers thahad their eye on obiang's oil. so did a gang ofercenaries. >> but y just knew there was a bulous amount of oil here? >> yes. >> enough to make everyboda veryich man? >> absolutely,es. fst! >> reporter: they'd fly in a ne esident, and kidnap or kill obiang. itain and spain knew in advancbut did nothing to stop them. >> butou're going there with the best mility force in africa, with the backingf serious western governments, yeah, this is a od gamble. >> reporter: t mercnarieses antheir backercould become asich as obiang and hislan - if their coup succeeded. >> you gamble withour life and you uld make a fortune. sotimes it's better to live ke a lion for one day than a sheep for 100 da, as the old sang says. >> check your local liings for "we angle." you can also find it onle at pbs.org/wideangle. and that's "worldfocus" for is wednesday. i'm martin sidge in new york. always, we tha

oil giant exxonmobil is now investing $97 million in exploration, and libya's national oil company has partnership deals with everyone from russia's gazprom to the italian giant eni to japanese firm nippon oil. analysts call libya the most exciting investment opportunity in the world with $50 billion of government contracts on offer over the next three years. yet, it is notoriously bureaucratic and controlled by one family. british businesses depend on the uk government to help them compete. >> this is where they do require political expertise. people who can help them navigate some the decisionmaking processes. open doors. arrange meetings. arrange visas. at all sorts of levels. so, yeah, clearly, british government and governments from other markets to -- from other countries can help business considerably. >> reporter: the relationship between uk plc and the government is close because in libya, it has to be. businesses will certainly be glad that as released on compassionate grounds, but were they lobbying for it, too? >> that was john sparks for itn. >>> for a closer look at brita

you can see the other companies on the list, exxonmobil 2, commercial bank china third, china mobile fourth, microsoft fifth. three of the five biggest companies in the world by market cap are chinese. that's certainly something we've been talking quite a bit about. in terms of prosprart around the economy, whether the stimulus is lasting over the longer term, bob in chester, california, yes, the stimulus is working. we have three road projects. the car dealers are selling and the state and county are getting tax money. i am glad to have the smart guys back in charge. how about cash for camels? we could start a fund to stop the camel cide. time for the "closing bell." >> senate majority leader harry reid says the senate will approve new fund for the cash for clunkers program before it leaves for the august recess. general electric is settling sec charges of improper accounting paying $50 million to do so. ge, the parent of nbc universal does not admit or deny guilt in settling. mary schapiro says the commission is studying ways to eliminate inequities resulting from so-called flash t

exxonmobil is spending more than 100 million dollars... build a plant that will demonstrate this process. i'm very optimistic about it... because this technology could be used... to reduce greenhouse gas emissions significantly. ♪ if saving money happened as automatically as everything else? at bank of america, it practically does. use the bankamericard power rewards visa credit card and earn rewards like cash back with every purchase. cash you can put into savings. or even use to help pay down your credit card balance. it's one of the many ways we make saving money in tough times a whole lot easier. >>> welcome back to the fast money halftime report. it's an important mark is being raised in the today's session. a 50% from the march 9th closing low on the s and p 500. you are down on the floor and feel the pulse and the flows down there. i want to play the skeptic. are we getting the participation that one wants to see in order to really believe in it? >> i think the mutual funs are believing in it and once we breakthrough the levels, hed

exxonmobil is working to improve cars, liners of tires, plastics which are lighter and advanced hydrogen technologies that could increase fuel efficiency by up to 80%. plastics which are lighter and advancedso, 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. >>> now for our "what in the world" segment. here's what got my attention this week. it's rare that a set of statistics make news, but the release of this month's case shiller price index was the report of the new lead story in both "the new york times" and the "wall street journal." why? well, the industry showed the decline in the american housing market ended and the recession would soon end. thi

exxonmobil is working to improve cars, liners of tires, plastics which are lighter and advanced hydrogen technologies that could increase fuel efficiency by up to 80%. ever wonder how cheez-it bakes... so much real cheese in such small bites? ♪ baking complete! well, now you know. cheez-it. the big cheese. of the world's most revered luxury sedan. this is a history of over 50,000 crash-tested cars... this is the world record for longevity and endurance. and one of the most technologically advanced automobiles on the planet. this is the 9th generation e-class. this is mercedes-benz. chris: house members are on vacation and their senate colleagues leave soon. waiting for them back home are some people very unhappy with the way the healthcare reform debate is going. well, today senate democrats got some high-level coaching on how to respond come meet with a new playbook. correspondent james rosen is following the action. >> in an hour-long closed-door session at the capitol, senior white house advisor david axelrod counsels senate democrats with how to contend with protestors at town hall m

exxonmobil is working to improve cars, liners of tires, plastics which are lighter and advanced hydrogen technologies that could increase fuel efficiency by up to 80%. lavorgne. >>> welcome back. the new bull market had a healthy mild pullback today, the second day in a row. all eyes are on tomorrow's important jobs report which could be a market making game changers. let's go to cnbc rebecca jarvis with the full report from earnings central. >> we have the job report for tomorrow and aig's report for tomorrow that saw massively outsized volume the last two trading sessions. take a look here, 100 million shares of the stock traded today, more than 10 times the vow volume. this was a $13 stock two days ago, what snaepd barkleys puts out a note even unsecured seniors are unlikely to be made whole. the last two days we see short-covering. you have heightened expectations for tomorrow's report. but the second theory a lot of traders are sticking to, stock lending is making it more difficult to borrow, government banning naked short translating to a more conservative report on trading, you se

exxonmobil is spending more than 100 million dollars...o build a plant that will demonstrate this process. i'm very optimistic about it... because this technology could be used... to reduce greenhouse gas emissions significantly. ♪ >>> earlier, we asked you to vote and grade the president's performance on health care reform. thousands of you voted, and here's what you said. overall, you gave the president a "bc." 20% of you gave him an "f." everyone else was in between. thousands of you graded the president's health care reform efforts online. let's go to tom foreman at the magic wall for more. tom, what are we learning? >> well, suzanne, when we look at the magic wall and the developments here, we're coming up with a unique way you can participate in this yourself online. go to cnn.com/politics. pick a topic, one of these questions here, and then you can go over here and you're able to move up and down this wall and pick out grainy grade you want to and you assign that grade to what you think of the president's handling of this. on the qu

these are not the exxonmobils of the world that are generally producing natural gas.fact, 80% of it is done by independents. so, you have these very high-paying jobs in a sector that can grow very quickly. it's not bureaucratic. it can respond to the market demand. so, it's a wonderful economic answer. it's a wonderful energy answer for domestic security, and it's a wonderful environmental answer. >> all right. something bothered me. here's a "wall street journal" article, august 21st. there's a guy who says, "we were not prepared for the pace at which the house legislation proceeded." you are that guy. how do you guys miss this? i've been trying to get everyone to focus on it! >> well, you're right. i mean, you've been talking about it longer. we just thought the inherent advantages of the fuel would sell itself -- >> oh, come on! did you really believe -- this is washington we're talking about! what are you, mr. smith? >> who would have thought they would have actually violated a lot of the rules of subcommittee procedure to get this rushed through the house before

exxonmobil is working to improve cars, liners of tires, plastics which are lighter and advanced hydrogen technologies that could increase fuel efficiency by up to 80%. a look at the big board. we're seeing a little bit of improvement. folks rather never us after that ism number. and all ahead of friday's big job report. the expectation the unemployment rate to of course tech higher. so a little bit of a breather basically investors taking today after impressive rallies. proctor and gamble reporting its fourth quarter profit fell as households kept tight on spending during the recession that we have seen. taking a look at where the stock is trading right now, 53 bucks. 70 cents a share down more than 3%. mary thompson is at earnings central. bob and i were talking earlier, you look at all these companies, and it seems to be a real repeat of this theme that n. noone of are growing their top line. >> it's an issue, but also to be sxegtsed in this environment. the important thing is that they're cutting costs. that will make them lean to benefit when sales increase. sales at p and g declined

. 40 foreign oil companies are working in libya, including all the american giants, occidental, exxonmobilnd conoco phillips. you heard the president. he just said there there should be no welcome. but thousands were greeting the convicted bomber. this is perhaps a very big story for business, and we will keep following it. but up next we're going to take you back to the trading floor to get the latest on what's moving as we approach the final hour of the trading day. word on the street, and what's really going on behind that 22% surge for aig. we'll be right back. these days, when you have to spend, shopping online can help save. doing it with bank of america can help save a lot more. up to 20% cash back from over 300 online retailers with our add it up program. just sign up and use your bank of america debit or credit card when you shop online. it's one of the many ways we make saving money in tough times a whole lot easier. ♪ yes, you're lovely... ♪ what do you think? hey, why don't we use our points from chase sapphire and take a break? we can't. sure, we can. the points don't expire..

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and we got a bullish report on crude stocks and pushed the energy big boy names like exxonmobil and chevronby the upside. by the end of the day, we had the three indices closing in positive territory. we saw a big increase in the price of crude, about three bucks a barrel. we saw a big drop in inventories. we saw on the pharmaceutical side drug manufacturer merck was the top gain that is right took the ding-ding ding today after the government upheld a patent for merck on the allergy drug. and pfizer was up. farm equipment was up, expected to barely break even in the fourth quarter. today was a red letter day for google. not quite happy birthday, more like happy anniversary, fifth anniversary for google because at this time five years ago, it ipo'd. guess how much it was back then? 85 bucks a share. even then some people thought it was too expensive to buy. look at it now. it's now sitting at 448. it gained 350%. >> amanda, it is so gre great -- amazing, isn't it? so great to have you in town from australia. so much of the discussion was whether or not china is strong enough to sustain it

exxonmobil was down in terms of the equity. that was one of the weak spots. walmart another weak spot within the dow tonight, one that a lot of people were talking about. an interesting situation. given the packet we had better than expected earnings notice retail sector. we break down market action along with nick, vice president of financial research at ms global. thanks for joining us. nick, back to school certainly one of the big issues here, one of the more important times of the year for the retail sector. what are you expecting going back into school and do you think the rally in retail is justified? >> i think it's going to be a sluggish back to school year. i think the market is ahead of itself in retail. and we need to have a little bit of a correction here. i just think people are going to continue to be a little bit cautious and you know, for that reason, i'm kind of playing for a little bit much a near-term correction. >> do you agree with that, eric? >> yeah, i think we would expect the consumer to reengage like they were in the 2006 seven era a

exxonmobil is working to improve cars, liners of tires, plastics which are lighter and advanced hydrogen technologies that could increase fuel efficiency by up to 80%. plastics which are lighter and advanced hydrogen technologies how about a swim? i'm a little irregular today. don't you eat activia? for my little issues? they're not that bad. summer's no time to put up with even occasional digestive problems. believe me, once they go away, it's amazing how good you feel. announcer: activia is clinically proven to help regulate your digestive system in two weeks. summer's a wastin'... take the activia challenge now. it works, or it's free. ♪ activia >>> tonight, disturbing picture coming into focus in the michael jackson investigation. randi kaye following the clues she found in search warrants served this week at the las vegas home and office of dr. conrad murray. jackson's personal physician. randi reported on the search warrants last night on the program. you had time to dig through warrants. one doctor mentioned caught your eye. >> reporter: absolutely, apderson. we learned michael ja

exxonmobil is working to improve cars, liners of tires, plastics which are lighter and advanced hydrogen technologies that could increase fuel efficiency by up to 80%. >>> look at the market now. 9400, coming up on the great jobs number. they said, watch the jobs number come in lighter than expected and the market doesn't rally. that shows you it's not for real. that's exactly the opposite. number came in better than expected and the market is on fire. >> and a strong dollar too is really important. people telling me the dollar is going to sink on a better jobs number. ain't true. somebody told me that dxy is up 1% already. i think that's terrific. better growth prospects in the u.s. is good for the currency. >> remember the narratives after the see the numbers. goldman sachs' abbey joseph cohen told us on the call yesterday the new bull market is underway. here's what she had to say. >> we do think the new bull market has begun. it may prove it began in march of this year. clearly, many people were looking for better signs on the economy, and we're now getting them. not every sign is po

exxonmobil is working to improve cars, liners of tires, plastics which are lighter and advanced hydrogen technologies that could increase fuel efficiency by up to 80%. >>> on the trader radar mountain coffee roaster among the most active names on the nasdaq today. welcome back to the show. here is what we have coming up in the second half today. apple versus google. we've touched on it but how that silicon valley fight might be good for your tech trade. also the only trading show that gives you an adrenalin rush is going to find slow money trades for the next five years. at your request. and who made $27 million off of casino stocks just today? no, it was not either person who would have claimed such a victory, john or guy, but we'll tell you who actually really cleaned up today coming up in a couple moments. first we want to continue with our earnings as molson coors came out with profits today, a 5% pop in the stock. second quarter bottom line more than doubled and better than expected. the company has continued to benefit from its partnership with sab miller. we joked about it not bei