jeff immelt of ge on the cloud partnership.ack after the break. ♪ using 60,000 points from my chase ink card i bought all the fruit... veggies... and herbs needed to create a pop-up pick-your-own juice bar in the middle of the city, so now everyone knows... we have some of the freshest juice in town. see what the power of points can do for your business. learn more at chase.com/ink see what the power of points can do for your business. ♪ hi daddy! gain the freedom to fumb with the new water and atter-resistant samsung galaxy s7 active. buy one now and get the samsung gear s2 for free. exclusively at at&t. take a look at the markets. s&p sets a new intraday high. without the help of oil which is up just a touch above 45. we'll keep an eye on that ahead of a busy week. >> our road map for the hour begins with the markets soaring at the open. the s&p 500 breaking its previous record set in may. information technology and financials leading the way. the dow closing in on a record. how long will the rally last? we'll discuss. get re

. >>> it's a great pleasure to introduce today and welcome jeff immelt, the chairman and ceo of general electric, our newest corporate citizen. the -- jeff graduated from dart mouth with a degree and went on to harvard business school to get his mba. he spent his first 19 years at ge in global leadership positions of its biggest businesses including appliances, plastics, health care, and then in 2001 he succeeded the preimminent jack welch as ceo of ge. it's been said that it's a lot easier to succeed an inadequate ceo than to succeed an excellent one so jeff had his work cut out right from the beginning. to make matters worse, jeff became the ceo of ge four days before the 9/11 attacks and then had to deal with two recessions of long standing during his tenure. never theless, in the 14 and a half years that jeff has been the ceo of ge he's transformed the company by focusing on energy, health care and transportation and treat its core as a materials company, manufacturing jet engines, locomotives, gas turbines and mri scanners. in that process, he has divested several divisions includi

according to chairman and ceo jeff immelt, it's the company's diversity and size of businesses that helps it perform in tougher and more volatile economic conditions. and that is the kind of economy in effect today. while ge has managed to show a lot of strength in many of its u.s. industrial sectors, results have still been weighed down by a lot of weakness in two key areas and that's oil and gas as well as transportation. oil price declines are still keeping companies from spending more on exploration of production gear and weakness in those markets is carrying through into parts of the transportation industry. both businesses showed sales declines over the same period last year. and the company expects that many of the headwinds will stick around into next year as well. but there are reasons to be optimistic. including avs due to a record amount of orders that haven't yet been filled and growth in a digital business that helps develop software to help industrial machines run smarter and more efficiently. ge shares recently did hit multiyear highs but did pull back after this earnings r

ceo, jeff immelt a few days ago and he said that would hurt smaller and medium sized businesses morebig businesses overall. when you think about potential policies getting more protect n protectionist, what impact would that have on the market a year or two years from now? >> interesting we have such a wide difference across the spectrum in this election in terms of policies. we look how widely divided congress is it's hard to believe either end will pass. when we speak to our clients we tell them not to allow houthi thank about politics impact them about investing? >> you think this is a gridlock market and basically nothing change because nothing will get done? >> a gridlock when it comes to implementation. that's where we think we are. when it comes to the market we don't think it's a gridlock market because the economy is getting better and earnings impro improving. >> best home sales since 2007, getting the dollar index at a four month high spurring talking about the fed moving again. the reason tech has been positive is because of earnings. how positive do you think the earning

. >> i think some of the back and forth, i'm thinking of bob iger at disney, several jeff immelt who responded in text and a commencement speech. does clinton pick up any of that fire from sanders? >> i think hillary clinton benefits somewhat from a heat shield represented by her husband's presidency, and her connection to that. now, the issues are different, the country is different. she has moved and flowed with those differences, but i do think she benefits from some presumption of basic hose hospitablity. and you would -- because of his views on trade and immigration, he doesn't really have that ability. he's actually staked out a position to her left on trade. that makes is easier for hillary clinton to appeal to business. >> we've been watching senator jeanne shaheen, the last of the speakers at the docket and in the next few moments, the fact that we made this earlier that it's happening in new hampshire is in some ways a deferential move on the part of clinton. >> yeah, sanders won that state by so many votes. you'll remember in 12008, it was also in new hampshire where obama

. >>> jeff immelt put his money where his mouth it. 1.6 million in shares of his company this week. bought 2 million back in may. >>> still to come, european banks in focus today. we'll bring you the names to watch. plus hear from the ceos of giants ubs and barclays. monday don't miss the exclusive interview. you can see that conversation live at 1:00 p.m. eastern time on monday morning. images, videos, social updates. we call it dark data. 80% is invisible to most businesses. the ibm cloud has tools that can help see dark data and put it to work. hello, my name is watson. working with watson in the ibm cloud, we can help an energy company predict pipeline corroon. and help a start-up to use social data to predict market trends. now businesses can get more out of their data. that's what the ibm cloud is bui for. >> welcome back to "world wide exchange". the swiss banking giant did cut expenses. continued to shy away from transactions on the heals of events like last month's brexit vote. >> we are prepared for any kind of scenario. we have very present -- material presence in europe

jeff immelt of ge.ust as excited about augmented reality and it's ability to save industrial companies billions of dollars within a two year window right now. to an opportunity to make a lot of headway there. back to you. >> great stuff and really important. we'll see what the next 24 months look like. that's for sure. when we come back it's set to be the most expensive deal for an organization in sports history. the ufc selling itself for $4 billion. details on that in a couple of minutes. >>> coming up what one big money hedge funder told me about where stocks could go next as the s&p hits a new high today. plus does it mean more stimulus is on the way and what the number one integrated oil analyst on the street says you should do with the stocks? we'll see you in just a few. >> sounds good scott. meanwhile breaking news on viacom today and sumner red stone. julia is back with that. >> yes, the latest in the drama this morning a california judge is rejecting a new trial for sumner red stone's exgirlfr

the ge ceo jeff immelt is buying shares of his company. 50,000 of them on july 26th.band holdings up to 2.2 million shares. he bought them at a price of $31.45. what do you guys think? >> good, always good news to have a ceo buy. i've always said the ceo is an executive buy for one reason because they think the stock is going up. they sell for multiple reasons. i think it's good news. stock has been kind of weak since they reported earnings and the second half of the year setup is good with easier comparison ahead. >> it's not as dramatic as jamie dimon's buy of a lot more in terms of dollar value. >> how big was jamie dimon's? >> $26 million in february. >> wow. >> that is when jpmorgan stock was under a tremendous amount of pressure and obviously as a gesture, you're always encouraged by it, but, again, ge has had a hard time making any distance between itself and $30 a share. that stock is -- not spending much time up there. >> series of moves they made, shedding businesses and trying to improve operations. they will move their headquarters to try to improve the ta

we remember that scene with jeff immelt the geceo and president obama kind of chuckling there were no low hanging fruit. that's not sustainable economic model. sustainable economic model is how about the 200 regulations that president obama has put in that cost business over 100 billion a year. get rid of that huge speed bump. lower taxes. that's another huge speed bump. talk positively because young entrepreneurs aren't showing up. young people who normally started businesses in the past have not been doing that. >> all right, charles payne, the host of making money with charles payne on fbn. >> leave with you one more plunge protection team google it. >> ppt. >> yes. >> wonder where the market is going to governmental is it safe to google it? >> i don't know. we got filters in the building though. [ laughter ] >> thank you. >> thanks, charles. >> you have got to see it. >> clinton campaign may have been hit by hackers. we learned they ignored warning signs from the fbi. governor mike huckabee is here to react at the top of the hour. >> up next, the sun is out. top is down. we have s