now focus turns to tomorrow's report from walmart and kohl's and whether a key compress of the economy is softening. >>> a turn to apple, a company you probably never heard of is trying to beat apple in it's game. the place china, the weapon a cheaper smart phone. that and more tonight on "nightly business report" for wednesday, august 14th. >>> good evening everyone. cisco with earnings that top estimates and solid revenues but this quarter is worrying investors. john chambers is warning its revenue will be below wall street expectations and lay off 5% of it's work force, that's about 4,000 people. shares fell as much as 9% in after hours trading. jon fortt joins us from san jose, john? >> one of the things that john chambers said on the call is that cisco is having fits reading the economic data and that summarizes the after hours action analysts questioned about what exactly cisco is doing. john chambers said the global growth and lack thereof shows inconsistency. the switching business looks good. the routing business except the edge looks bad. certain geographies, northern europe,

take a look at kohl's, down 2.3% for kohl's.sued reports this week that were, results were weak. we saw macy's. we saw wal-mart, all coming out with numbers here somewhat disappointing of plus some muted outlooks, right? conservative outlooks as well which really bring as cautionary tone to back to school, the holiday season. many of these retailers are talk about customers that are not buying anything except the essentials. they may be hitting cars or fixing up their homes but, non-essential are sort of dropping off to a certain extent. higher payroll taxes. gasoline that is higher year-over-year and the job market that still remains very weak. david: that is interesting she is saying all this we'll focus on that with our next guest. thanks, nicole. have a big weekend. big market moves this week. let's dig into the action. brian sosi. and michael burka is still with us from the pits of cme. richard fisher is not a voting member of the fed. we know he will become one. he has had qualms about qe for quite some time. but was there

kohl's second quarter fell 3.5% as they reported higher expenses.y lowered their eps outlook for the year. profit for the quarter was 231 million dollars, compared with 240 million a year ago. switching over now to wal-mart, they missed their estimates as well. revenue rose 2.4% to 116.2 million, but that was still a miss. store sales fell .3% while the street was expecting a 1% gain. and the number of customers visits was also down. looking ahead, we'll be watching nordstrom's earnings coming in this afternoon. they're going to report probably we're expecting, eps of 88 cents per share. revenue of 3.29 billion dollars. but you know, we're be watching for any comment on nordstrom shopper behavior. trying out these new mobile check outs throughout the stores. seeing how customers respond to that. but, you know, lori, ashley, people right now are looking at this saying it is a weak economy. bad numbers. if you take a deeper look at reports. you can see a lot of companies that don't promerrillly center online retailers like amazon, this might be part o

i think that's why kohl's is up overa overall.had david berman on from berman capitol on monday talking about estimating the numbers would be terrible. so far he's been right. he made an interesting point. and i talked to him this morning. he reiterated the idea here. it's not the consumer that's necessarily so weak, it's retailers themselves that are weak. consumers are buying cars and houses. and they're buying goods on the internet from companies like amaz amazon. and they're buying home improvement products meches very high on home depot and lowe's. they're going to be out early next week. they're not buying as much from the traditional retailers. he reiterated to me this morning we ought to be making a difference between genuine weakness in the consumer itself and the consumer shifting some of the money around right now. meantime, remember here, the numbers here on walmart were amazing. sales lowered to 2% to 3%. previous guidance to 5% to 6% gain. that's amazing when you talk about 20% of retail sales in the united states. d

--dash kohls. we will be right back.re's what is coming up in the next half hour of "markets now." the dow sinking the jobless claims move lowered nearly six-year low, wall street fears the federal reserve will move to pull back. interest rates moving up today. city manager says he is sorry for remarks many believed to be racist. he says some people in detroit are lazy, but also rich. homebuilder confidence near an eight year high. but a guest who says we are not out of the woods yet. maybe misplaced optimism. connell: you can see the dow started to selloff. a lot of times you see a company announced layoffs, 4000 workers as the stock will go up. nicole, that is not happening for cisco. nicole: i am sure it will be the member for the operating officer. out with numbers come out with news on layoffs, 5% of the global workforce containing 4000 workers and tightening their belts for the latest quarter now. an 18% jump in profit in the fourth quarter. orders rose 5%, orders from asia declined and business in china fell some

. >>> kohl's was one of the few bright spots in the market. the retailer benefitting from private labeled brands like jennifer lopez and rocking republic and while some are struggling with back to school, they say they are off to a good start. they met expectations and investors brushed off the cautious outlook for the year. >>> the stock gained more than 5% to close at 53$53.51. >>> kohl's wasn't the only one in the green today. estee lauder saw revenue growth across gee graphic regions. investors slugged off mooted outlook sending the stock to $67.36. >>> and there was a deal in the conductor business. maxim is buying volterra who makes chip sets. maxim says the purchase will give it a greater role in the enterprise and communications markets. at the close shares were down 3% to $27.76 and volterra up to $22.91. >>> and a deal that may be about to fall apart is sending shares of onyx pharmaceuticals over. it is being held up over access to onyx' cancer drug data. it doesn't want to access the data before the study is over because it may slow

i think it's interesting that kohl's hasn't cop toured poverty jc penney consumer. >> yet the stores are packed. >> with merchandise, and that's part of the problem. the inventory is not something that they have managed really well. they are getting better at it, and i think that's where we're seeing some of the share price pot is because they are getting better and making improvements. the customers aren't there that they should have gotten. spread out between t.j. maxx, the gap, maybe kohl's, maybe sears. >> have to leave it there and i do agree with you on the macy's shopping experience, i do agree. leave it there because there's breaking news right now. kate kelly, what are you hearing on the jpmorgan london whale case? >> mandy, the man who was given the nickname the london whale in connection with jpmorgan's losses will not be prosecuted by the department of justice in terms of losses, potential mismarking or hiding of profits in 2011. he's reached a non-prosecution agreement with the department of justice from what i'm told and the staff of the securities and exchange commissi

. >> she inked a multi-million dollar design deal with retailing giant kohl's, kohl's. >> it soundedand her name is on it. >> she even designed her own brand of bedding. >> it is glamorous! >> you have got sportswear, dresses, handbags, jewelry, shoes, sleep wear. >> yes. >> does it get overwhelming? >> of course, of course it is overwhelming sometimes and yes you are right, at times i am like, whoa, what am i taking on i am taking on too much, it is overwhelming but i feel like life is overwhelming and you can't be afraid of that. >> she got the attention of forbes magazine that put it on the top of the list of the world's most powerful celebrities last year in part so big. her deal with kohl's was >> i think we have like 20 year contract, seven years. >> that is crazy. >> with seven year options. >> i don't know, who likes to talk about this stuff, not me. >> i just like to play clothes. let's design the clothes and let's have fun and what colors will we use and oh, that is my fun part. >> jennifer, judy on the side of mario, please. >> and that fun part is only a fraction of her d

and it's available at kohl's. it's $98. appropriate length. i don't like -- i don't love to see up around the thighs, you know what i'm saying? >> unless you gisele bundchen's thighs. >> right. and i think she looks great. >> yes. thank you. >> you look elegant, sweetie. >> thank you. >> let's move on to weekend casual, shall we? we have lu. ♪ lu, lu, lu >> this is often a difficult category. >> nice. i love that top. >> yeah, i do, too. >> i'm obsessed with the top. lane bryant collection. it has the beautiful draping, the wows of color. the pants are by listette. >> i love listette. >> i know. >> we discovered it -- >> yeah, they are a little more, $127. >> they're worth it. you'll never buy another pair of pants. >> right. the necklace is iris, hsn.com. the philanthropist, 91 years old, a great design career. and i'm loving it coming in different colors. >> you have keratin in your hair? >> you're obsessed. >> it feels like keratin. all right. you look gorgeous. >> the bag and the shoes are the sole society, a great line

from kohl's. we love the bracelet.t do you kids think? >> wow. she looks great. >> a round of applause for both of our lovely ladies. >> they lost a combined 125 pounds. >> wow. >> see their dramatic new look with more of our favorite ambush makeovers coming up right after this. crisp, fall rocky mountain air makes an epic journey through pines, wildflowers, and aspens. and is matched only by our journey to capture its scent. crafted by expert perfumers for your home, air wick mountain woodlands and crisp air is part of our limited edition national park collection. airwick. the craft of fragrance. you know, "what are you thinking?" oh, i had a knot in my chest. i didn't really want her to go but...i knew she could do it. i felt like there were bigger and better things for me to do. [ mom ] she took what she was doing seriously. [ hosmer ] my self-confidence just went through the roof. [ dad ] it was awesome to see her transform from a girl, in a small town, to a soldier. [ male announcer ] you made them strong. we'll m

but how does it play out between maybe kohl's nordstroms? >> the consumer is finding better values elsewhere. that's really the share loser in my mind, but the thing that was concerning for me for macy's was thing fact they saw center court as weak. cosmetics, jewelry, watches and footwear. i'm worried about this for nordstrom. another kind of best in class, but if macy's is seeing it both macy's and blooming dales. >> how about the weakness tht fact there's no fashion trends. you and i share a common friend. >> i thought you were going to say common fashion trend. yes, we both love skirts. >> his feel was colored denim has been a fashion trend for the last couple of years. you don't have that. so why go for apparel? >> bottoms are, colored bottoms last year were very important. didn't know where i was going with that. >> a guy who still wears acid washed jeans. >> colored denim was really important. typically, if you buy a couple of jeans, you buy tops with it and there's really nothing to follow it up with. i think that is something we're

kohls is on the upside here. that happened, i think, because they are getting store guidance of the quarter for 0.2%. analysts think they're being a bit conservative and things could actually be a little bit better. a little wishful thinking going on here. interest rates are up for homebuilders. i just got off the phone with one of the biggest analysts out there. i want to put up a chart on gold and show you something here. gold just popped 20 points while you and i were standing here, and i'm going to make some phone calls. >> don't go far, simon, because we're going to bring you right back in. is this market selloff overblown or should investors be really concerned? joining me here at cnbc headquarters, chief market strategist with the lindsay group and a cnbc contributor. our friend kenny folkar, cnbc market analyst. i'm going to start with you, peter, and i'm going way out on a wild limb here. i remember an august, 27, 26 years ago, 1987. the markets had risen a great deal early in the year. interest rates we

. >> i got these socks at kohl's. >> i got these socks at kohl's. wearing. h] >> i'm never getting tired of this one. with the markets getting beaten today, how shocked out should we be? is it more of a garden variety pullback. we need to consult the fear index. aka the cbo volatility index or vix for short. we're going off the charts again. consider this the hashtag chartnado portion. mark sebastien, the chief operating officer. so does that mean it's time to freak out? not so fast. the thing about using the volatility index is it's all relative. sebastien points out ordinarily the vix and fortune 500 is supposed to move in opposite directions. when the s&p gets hammered, it should surge, with is exactly what happened. sometimes this relationship breaks down. that can be a sign that whenever trade happens to be dominating the stock market at that moment, it doesn't last. so before we get to today's action, let's go through some examples from the recent past that let you understand what sebastien is getting at. first consider what happened when the

tech kohl problems on monday forced two thermal power plants to go off line and six of the country's 23 nuclear reactors are undergoing inspections for maintenance. government workers will have to forgo air conditioning for three days and authorities have asked residents to do what they can to save power. a heat wave two years ago resulted in major blackouts. >>> rescue workers in afghanistan and pakistan are searching for survivors after sudden downpours caused deadly flooding. more than 180 people have been killed. afghan disaster management officials say the waters submerged vehicles near the capital kabul. the afghan government dispatched rescue teams to kabul. and more than 80 people there have been confirmed dead. officials say more th s say people there have been confirmed dead. rivers burst in neighboring banks in pakistan, too. they swept away houses in the central province of punjab and the southern province of sindh. 83 people were killed and more than 4,000 houses destroyed. authorities have installed shelters for those left homeless. pakistani weather officials warn ther

more quarterly earnings are on deck with cisco, macy's, nordstrom, walmart and kohl's. >>> on tuesday, retail sales for the month of july will be out. also on tuesday, warren buffet's charity buzz auction comes to an end. the highest bidder will meet with buffet for an all you can eat tour of sea's candy factory with proceeds going to communities and schools in los angeles. >>> wednesday we get an idea on inflation when the consumer price index comes out followed by the consumer price index on thursday. on friday the very latest housing starts will be released. >>> finally today from sharknado to shark week, we simply can't get enough of our favorite sea predator. in honor of discovery channel's shark week narragansett beer is hoping to cash in on a design. the captain crushes a beer can with one hand. narragansett is the largest beer company. that will do it for us today. >>> next week, the american dream. is it packed up in a moving truck. i'll tell you where it's headed. keep it here where we are, "on the money." have a great week, everybody. i'll see you next weekend. i want you t

a normal fall will be welcome news for the gap, macy's and kohl's. >> the met benefit won't be from the weather but sentiment change the cool weather caused, meaning all of a sudden when we wake up in the morning and have to put on a sweatshirt and early august, that translates into people thinking they need to get ready for back to school. >> it's a little cooler out. start thinking about bringing out winter gear, but try to avoid it as long as i can. >> i can probably use a couple more long-sleeve shirts. >> i'm climate driven. >> until i'm freezing cold and have nothing to wear, when that happens i'll run to the store and do something. >> reporter: while kids going back to school hope for a late summer surge, retailers are anxious for thermometers to drop. the lower the temperatures in the fall, the higher the profit margins for retailers. for "nightly business report," i'm courtney regan. >>> it looks like the race to be the first to come out with a wearable computer device is close to being won. reports say south korea's sam swung will reveal a wristwatch like device a few days ahe

we've seen kohls (kss) rally. we saw dillards rally and we saw selloffs in walmart and jwn. so i wanna wait for best buy at $29. > >as a trader, what do you need to hear out of best buy to change your view on the business model and what's been happening with the reorganization? > >they're just like hewlett- packard. they're seen as they worst stock in the dow-- companies i thought were gonna go out of business---look at groupon. groupon reported good earnings. expected to come in at about 12 cents. 18 cents is the whisper number so i wanted to look at revenues last week. cisco was weak on revenues. if revenues come in a beat, then i think the stock will rally. > >thank you andrew for coming on the show and have a good trading day. > >thank you. that's our show for today.. coming up this week--- find out if "frequent fliers" are better off with or without the merger of american airlines and u.s. air... plus--confused about your 401k? we will take out the guess work later this week. until then.. from all of us at first business.. thank you for watching and have a good monday!

a normal fall will be welcome news for the gap, macy's, and kohl's. >> it will not be a direct relationship with the weather as it is the cinnamon change that the cool weather has caused. all of a sudden when we are waking up in the morning and have to put on a sweatshirt and that early august, translates and the people thinking they need to start getting ready for back-to- school. --it is cooler out and a and i will start thinking about bringing in winter gear but i try to avoid it as long as i can. >> i could use a few more longsleeved shirts. >>, so i'm freezing cold and i realize i have nothing to wear. when that happens i will run to the store. -- retailers are anxious for the thermometers to drop. the lower the temperatures in the fall, the higher the profit margins for retailers. now, your insta-weather-plus forecast with meteorologist tony pann. >> you can put the sweaters in the codes way at least for a while. we have flipped the weather pattern and we can thank the jetstream. remember when we were talking about this 10 days ago we were talking about this dip in the jetstream. when

this lauren conrad blazer, $21.99 at kohl's. but for $54, if you want to get another trend this is a great way to invest on it. if you only one want color, walk forwards, then backwards. >> all right, girl. next up with dakota jeans, sara's here with that. >> sara is kate cook's sister. and they have a very similar laugh. show us. these dakota jeans and these are very similar to if you want that leather look, they're coated. the built-in control panels, they're a little priceyer for dlas 134 but we use these a ton in "ambush makeover." the technology slims your stomach and waist size. >> we love your sister. >> phoebe is coming out. she's got on a pair of jeans. what are these? >> these are phoebe with the moto, motorcycle trend. these are $99. ditto jeans. again i'm showing you the trend. you could wear it with an oversized sweater and ballet flats. if that works for you, you can see the difference in the stitching at the knees. you see the difference in stitching at the knees. this is showing sort of that wild look if you want

the news has not been going, american eagle joining likes of walmart, and macy's and kohl's and saks,ame sorry tune, business stinks, scott you say so do retail stocks. >> retail will be a tough year. at least for next couple months, the last thing you want to do is get between the consumer and credit card, consumer has been called dead for 3 straight years, and every time they have come out and spent, back-to-school has not been great, perhaps that will lead to a soft holiday, but i think, given fact that we're creating jobs, yes, it is weak, 17,000 a month, wage growths flato maybe up a couple percentage points, it is not great. >> jared? >> more specifically don't get you know in between a teen and credit card. you know companies like buckle and express are going good, i like the gap. i think there are some that will do well, remember, there is no trends, and you know -- >> you are ignoring the guys who say you say there are so many out there you can't make a blanket statement. >> there are good ones, i d't think that retail will be a big standout. but there are good ones gap, and

slowdown in the very hiccuping that you alluded to when it came to walmart and what is going on at kohl'snd macy's in cisco with these layoffs. >> i don't see the effect. i just don't think these near term machinations of the fed had made nearly as much difference as folks in washington what have you believe. neil: hanging on the fed for the markets every move seems to make them think that without that interest rates would be a lot higher. you seem to be saying that is not the case. >> i agree with you. i don't think they have that much impact. the fact the matter is we lack confidence. we have tremendous uncertainty. facing higher payroll taxes, were read silly about the financial implications of obamacare both for small business as well as individuals. the rules seem to be changing by the day, and with all the uncertainty, the consumer is, as many would say, cautious. neil: leave it to you to speak english. thank you very much. good seeing you again. i am thinking about tomorrow and najaf would cover a broad based sell-off one week after he bought the paper. we may be about to find out,

. >> maria, obviously, the market was focused on wal-mart earnings today, which were weak in kohl's, cisco's bad guidance be you the fed is still looped in there. part of today is a kevin that the fed is going to taper in a way that is detriment am. so i think that concern is still out there. it's kind of like the sword of damacles if you will. i tend to agree with a what allen was saying, it was something was ignored today, weekly and initial jobless claims hit a six-ier low. i'd be putting more money to work here, too. >> we want to get back to you in a moment, dan, on. that i look at domenic chu. he is covering nordstrom earnings. what do they tell us given what we heard from wal-mart today? >> again, a lot of a mixed picture with john in order strom. the bottom line, 93 cents. beats the analyst's estimate of 88 cents per share. you look at the top line the sales numbers. some of the problems manfest themselves, $3.3 billion is what analysts were expecting, sales from nordstrom at $2.2 billion. nard strnordstrom cuts the full sales fiscal 20 thrown will be up 3-4%. wall street an

i think kohl's probably is more of the crossover than jc penney.ely, it's off mall so you would have to get back in your car, drive to kohl's if you're disappointed with what you saw in jc penney which is could be more of why macy's picks up the shoppers. >> we'll talk about the tweet seen around the world. carl icahn taking a sizable stake in apple and what that means for blackberry users. i'm up for this one. "squawk box" back right after this. when we made our commitment to the gulf, bp had two big goals: help the gulf recover and learn from what happened so we could be a better, safer energy company. i can tell you - safety is at the heart of everything we do. we've added cutting-edge technology, like a new deepwater well cap and a state-of-the-art monitoring center, where experts watch over all drilling activity twenty-four-seven. and we're sharing what we've learned, so we can all produce energy more safely. our commitment has never been stronger. otherworldly things. but there are some things i've never seen before. this ge jet engine can un

kohl's might especially need a cool fall. see a negative weather impact show up in kohl's earnings report. back to you. >> courtney, thank you very much. courtney reagan there as we get ready for back to school. huge news for the airline industry in the last 24 hours. the department of justice suing to block the merger between amr, american airlines, and us airways. we'll talk to somebody directly involved in that lawsuit in a moment. >>> first, rick santelli working on the next edition of "the santelli exchange." rickster. >> yeah, simon. we're going to bring our muni guy back. yesterday the department of justice put the kibosh on a merger and our muni guys. in 7 1/2 minutes we'll talk to new jersey, illinois, and detroit. you don't want to miss this one. - tdd#: 1-800-345-2550 playing this and trading. tdd#: 1-800-345-2550 and the better i am at them, the more i enjoy them. tdd#: 1-800-345-2550 so i'm always looking to take them up a notch or two. tdd#: 1-800-345-2550 and schwab really helps me step up my trading. tdd#: 1-8

kohls, after the quarter they came out with, and now let's take a look at jcpenney., i can feel it through the camera. yes, this is all true. now, i'm sticking around -- david: i can't believe that. there are stocks that are up today? cheryl: and the names of who's up. david: triple-digit loss here, the dow is looking at its steepest weekly decline even if we flatline tomorrow in four months based on what's happened today. let's go to nicole petallides, naacp, and there's a lot of talking about -- new york stock exchange, there's a lot of talking about what's caused today, some people say it was sor ross making a bet against the s&p going up or whether it was walmart. what do can the traders say? >> reporter: or it could be the fed tapering, you could say any of those. how about the fact that we were up six weeks in a row, and now people are pulling back a little bit or that we broke the 50-day moving average, and sometimes when that happens you see selling upon selling. cheryl: nicole, curious what the traders are saying about cisco, biggest one-day decline in 15 mo

one is kohl's and the other is jc penney. in fact, it's up more than 4%.eorge reviewed a big stake in the company, j.c. penney being up to 13.70. he added another 2 million shares to it. also the fork nork ponew york p reporting j.c. penney reporting higher earnings. let's go to our five picks from the lone star state. craig, great to have you with us, and i did actually notice out of your three top picks, two of them are from dallas. a little bit of dallas bias going on there? >> yeah. we are coming across a lot of good companies in dallas. in fact, this morning i spent the day at encore wire and i heard a fantastic story there. there are some really good dallas companies that have a real bright future. >> let's talk about a couple of them. we have trinity industries. >> trinity, i mentioned this one before here. the company is doing fantastic. of course, they make rail car. they're really benefiting where their competitors aren't. this oil by rail is a big deal, and you've seen greenbrir and some of their competitors come out and say that part of their b

earnings from major retailers such as macy's, walmart and kohl's are released this week.the s&p 500, likely a part of your retirement plan, fell 1.1% last week. worst weekly performance since june. keep in mind, though, it is up some 18% so far this year. besides earnings from retailers this week, we get word on overall retail sales for july and consumer spending and consumer sentiment. harris, back to you. >> brenda, thank you. >>> the controversy surrounding admitted nsa leaker edward snowden not just raising questions about our government's massive and secrettive surveillance programs. it's also beginning to wear on our relationship with one of the most important countries in the world. >>> plus, president obama's signature legislation, obama care, now roughly 50 days away from a major milestone. more of it rolls out. what this will mean for all of us and the future of how we get our health care in america. ♪ ♪ there's a new way to fight litter box odor. introducing tidy cats with glade tough odor solutions. two trusted names, one amazing product. you will lose 3 sets

i think the jc shopper is more of a tjx, kohl's shopper.out how the consumer is feeling in general and that could be the problem in addition to all the other stuff. >> we'll get the big reveal won'ty we. jc penney up by .8 and macy's, meanwhile, is down 3.5%. thanks, security. >> a really great day for apple crossing 500 bucks a share but the next guest says there is another tech name out there that you should be buying right now, and it is the best thing you're going to see all day, really, i promise it is. raising the bar on bar mitzvahs when "street signs" returns. are you sure we should take this billboard down? people find out state farm does car loans as well as they do insurance, our bank is through. good point. grab an edge. look there's two guys on the state farm borrow better banking sign. nope for real there's two dudes on the state farm borrow better banking sign. [ reporter ] breaking news from the state farm borrow better banking sign... we're seeing two men that have climbed the borrow better banking sign gentlemen please get

the higher end consumer after it looks at the value and mid-end from k-mart or rather wal-mart and kohl'sinvestors will be paying attention to the comparable store sales numbers. >>> onto the tech scene, how about a company many believe is a leading indicator of the sector. we tuque u talking about applied material. they make commuter chips, analysts pediatric earnings of 19 cents per share of sales up to $1.2 b. let's polish off the t trifecta. yeah, we're in a longer-term downtrend if you will for personal computers as more and more consumers look towards tablets and smartphones as their device of choice. just about everyone out there wants to know the status of that takeover battle between founder michael dell and activist investor icahn. there is stuff for just about everyone, all those business junkies after the closing bell. >> we like that. >> we'll get the popcorn out, get ready to go. . >> all right, heading towards the close, the dow down 215 points marksryia, i mentioned earlier the s&p is close to its 50-day moving average. keep an eye on 1556. we will see if we breach that to

. >> i'm jamie kohl by, a busy day. good to be with you. the president saying he's confident in the evidence laid out yesterday by his administration in a declassified report. the u.s. does not need to wait for a report from those u.n. inspectors who just returned. the president will make his case to congress, even saying he looks forward to the debate. and now congressional leaders are confirming that date that lawmakers will hold that debate and a vote of authorization of force. chief congressional correspondent mike emmanuel with more details joining us live from washington. busy day there. >> no question about that, jamie. after calls from many members of congress, they should be called back to debate and vote on an authorization of the use of force, the white house is it providing lawmakers with classified briefings on syria, and in the rose garden a short time ago, the commander in chief said he looks forward to the debate. >> that's why i made a second decision. i will seek authorization for the use of force from the american people'

david: shares of kohls got a boost today after reporting a rise in same store sales following down beat reports from walmart and macy's. cheryl: and confidence among u.s. home builders at its highest levels in nearly eight years, that's according to wells fargo can builder sentiment index. david: the wall "the wall stree" reporting that the department of energy was attacked by computer hackers last month who gained personal information on thousands of current and former employees. we have earnings coming up, dell in just a moment. "after the bell" starts right now. cheryl: and let's get to today's action and what's behind the selloff. we've god edward pavin, chief investment officer, and mark sebastian in the pits of the cme. mark, let's start with you. you know, so much of what we've seen today has been concern that we are going to lose the punch, if you are, and that ben bernanke is going to pull back. are you buying into that storyline today? >> well, it doesn't really matter if i'm buying in, the ten-year note certainly is. those yields are getting pretty high, and it's the dog that

the question is what happens once this get in the arena back with people like discounters and kohl's who stole market share from them during their demise? >> mary, that's a wonderful prescription. kudos to best buy on both stores. let me turn to jeff killberg and ask you, do you think potentially jcpenney has hit its lows and potentially big capital "p" potentially, that this company two years from now could be best buy? i.e., a company that's turned around in a major way? >> well, ty, first and foremost, i do think it hit its lows. it is quite a different animal than best buy is. this is more of a retail focus on getting back to basics. one thing i like here, we just saw kyle bass, a very sophisticated poised investor come in and take a big bite. we saw the stock take another leg up today. i really think jcpenney is finding a bottom, but for those prudent investors like us here in chicago, we want to utilize the acronym jcp and just trade options. so just calls please is the way to call the upside. it gives you an opportunity to hop on. jcpenney has to focus on their cash, having th

kohl's ended to the upside. some hope that maybe they were providing conservative guidance. new york stock exchange, just want to note, guys, a little bit of news. the s.e.c. did approve the merger with i.c.e. this sex pekted. only a few approvals in europe. i expect the deal will likely close in the very beginning of october, although they have not formally said that. how are we doing for next week? maria, big, big news on home depot and lowe's. remember, a lot of people are hiding out in the home improvement story, expecting big numbers, appliances and cabinets, sales have been good. the stocks have gone straight up for a year and a half. this has been the home improvement play. any slowdown in the momentum will have a tough time for the stocks. the global markets for the week. we are lagging. remember we were outperform. it happied. germany up, even japan eked out a small gain. maria, have a good weekend. >> you too, bob, thank you so much. the stock market has turned two well-known bulls not into bears but cautious, definitely, for the near term. jack and ralph. jack, yo

now focus turns to tomorrow's report from walmart and kohl's and whether a key compress of the economy turn to apple, a company you probably never heard of is trying to beat apple in

. >> sure, walmart, you saw kohl's, you saw macy's, those are bad numbers. no doubt about it.n, 70% of the economy is consumer spending. >> all right. it looks like we'll go out below that number. so it looks like the dow will have its worst week of the year. [ bell ringing ] this week, yields on the 10-year going to a two-year high. more now on the second hour of the "closing bell," "summer on the street" continues. have a good weekend, everybody. >>> and it is 4:00 on wall street. do you know where your money is? hi, everybody. welcome back to the "closing bell." i'm maria bartiromo outside the stork stock exchange for our "summer on the street" series. we're having the market close unchanged, but it's the worst week of the year, this friday caps the worst week of 2013 for stocks. look at how we're finishing the day on this pretty tough week for the street. the dow jones industrials average down about 18.75 to 15,093. the nasdaq gave up 1.75, close but no cigar on nasdaq, it tried several times to stay

now focus turns to tomorrow's report from walmart and kohl's and whether a key compress of the economy is softening. >>> a turn to apple, a company you probably never heard of is trying to beat apple in

kohl was knocked out in the third inning and the shortest outing of this season.ar right- hander who was pitching on six days' rest but weakened by a stomach virus had made 15 consecutive starts of at least six innings and three or fewer art runs. --earned runs. top 8th, 1-1 tie no i am not where going home ever you want huh? yup, goodbye alright you have a that called the police on me now if you are wondering what just took place. we have to go back in time i'm at grundy park in beautiful san bruno this park like any park in san bruno does not permit dogs of any kind on leash or off leash however the signs apparently are for everyone else except actual dog owners because you will find dogs here nats: ambiance this is the lady i confronted earlier playing with a dog and a kid fully aware that dogs are not permitted in fact i saw numerours people bring there dogs to the park. where they have to walk past the no dog signs if you want to take your dog to a park you have to go here to commodore park dog exercise area a little over a mile away but you kinda have to let

kohl this afternoon as for santa rosa is 94 degrees make that 11 degrees above average.ek low cloud cover tonight. clearing into the afternoon but still cooler tomorrow. as we head into saturday. agassi the fault deafening more extensive tomorrow. and floor to clear. temperature wise the coastline temperature's very similar in to the low 60s and to contest what you are looking at the 17th for brad what city. 70's for redwood city! 89 in pleasanton and '70s and '80s and mountain view. 82 in san jose but 90 in morgan hill. cooling in to come time temperatures level out saturday and sunday slightly warmed again monday and tuesday >> reporter: i'm justing what a man with that story on all news tonight on kron4 at 6. ♪ [ male announcer ] wouldn't it be great if all devices had backup power? the chevrolet volt does. it's ingeniously designed to seamlessly switch from electricity to gas to extend your driving range. no wonder volt is america's best-selling plug-in. that's american ingenuity to find new roads. ♪ the 2013 volt. charge ahead of the rest in the hov lane. ♪ >> repor