the former macy's ceo on deck next. stay with us. >> with the unemployment rate going down and consumer spending going up, is retail due for a renaissance? >> we are in a really good place. there's been a lot of activity that's taken place, particularly over the last few years. >> maria sits down with terry you're turning onto the street when you barely clip a passing car. minor accident - no big deal, right? wrong. your insurance company is gonna raise your rate after the other car got a scratch so small you coulda fixed it with a pen. maybe you should take that pen and use it to sign up with a different insurance company. for drivers with accident forgiveness liberty mutual won't raise their rates because of their first accident. liberty mutual insurance. ♪ liberty. liberty. liberty. liberty ♪ with its historical records... ...you could learn you're from ireland... ...donegal, ireland... ...and your ancestor was a fisherman. with blue eyes. just like you. begin your journey at ancestry.com. the doctor's office just fo

as strong as you could. >> now, so the good news was for macy's is that macy's began their macy's.com'90s. actually, the mid '90s. so we already had a platform to turn into an online business. so, and by 1999 and and 2000 when all of the dot.gone era -- maria: i like it. >> all of these companies that many people have forgotten about that were riding high at 50 multiples and 80 multiples -- maria: pets.com. >> there was really no multiples because they weren't making money at all. maria: counting click toss the web site. [laughter] >> they got wiped out in '99, 2000, which was unfortunate for many, but it was the right thing because you began to have to have a business model, you know, that could actually produce earnings for shareholders over time. so when that happened and everything sorted itself out on the online world, macy's was already in position to stay with it. amazon, you know, obviously did some very, very good things. i think the brilliance of amazon is their non-retail business. i mean, their cloud services -- maria: yep. >> -- their distribution, their logistics -- mari

the former macy's ceo on deck next. stay with us. >> with the unemployment rate going down and consumer spending going up, is retail due for a renaissance? >> we are in a really good place. there's been a lot of activity that's taken place, particularly over the last few years. over the last few years. >> maria sits down with terry so you just walk around telling people geico could help them save money on car insurance? yea,that and homeowners, renters, motorcycle and boat insurance. huh.that's nice. what happens when you catch a fish? gecko: whoa. geico. more than just car insurance. see how much you could save at geico.com. i'm ok! ♪ as moms, we send our kids out into the world, full of hope. and we don't want something like meningitis b getting in their way. meningococcal group b disease, or meningitis b, is real. bexsero is a vaccine to help prevent meningitis b in 10-25 year olds. even if meningitis b is uncommon, that's not a chance we're willing to take. meningitis b is different from the meningitis most teens we

the former macy's ceo on deck next.tay with us. >> with the unemployment rate going down and consumer spending going up, is retail due for a renaissance? >> we are in a really good place. there's been a lot of activity that's taken place, particularly over the last few years. >> maria sits down with terry you're headed down the highway when the guy in front slams on his brakes out of nowhere. you do, too, but not in time. hey, no big deal. you've got a good record and liberty mutual won't hold a grudge by raising your rates over one mistake. you hear that, karen? liberty mutual doesn't hold grudges... how mature of them. for drivers with accident forgiveness liberty mutual won't raise their rates because of their first accident. liberty mutual insurance. ♪ liberty. liberty. liberty. liberty ♪ maria: welcome back. it's been a big month for some brick and mortar retailers. walmart had their best u.s. sales performance in a decade. macy's posted better than expected earnings a week and a half ago, hiking its annual profit

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the former macy's ceo on deck next. stay with us. >> with the unemployment rate going down and consumer spending going up, is retail due for a renaissance? >> we are in a really good place. there's been a lot of activity that's taken place, particularly over the last few years. over the last few years. >> maria sits down with terry hi, kids! i'm carl and i'm a broker. do you offer $4.95 online equity trades? great question. see, for a full service brokerage like ours, that's tough to do. schwab does it. next question. do you offer a satisfaction guarantee? a what now? a satisfaction guarantee. like schwab does. man: (scoffing) what are you teaching these kids? ask your broker if they offer award-winning full service and low costs, backed by a satisfaction guarantee. if you don't like their answer, ask again at schwab. where we're changing withs?swer, contemporary make-overs. then, use the ultimate power handshake, the upper hander with a double palm grab. who has the upper hand now? start winning today. book now at lq.c

so to clear up some confusion about a macy's gain, shares came in more than estimates macy's also raisingdance, now expecting full year comparable sales too to be up 2.1 to 2.5% they had previously forecast about 1% to 2% growth. comparable sales, this is on a licensed basis, that came up .50% on the quarter analysts had expected that to follow 0.9%. and i talked to macy's ceo he explained that momentum improved tloult the quarter, with july being the strongest month. that's something that macy's did explain a lot last quarter hoping to minimize any surprises this time around with the sales indica cadence shift. and transactions grew across the physical store fleet, foot traffic he says is in good shape. and many categories, from women's dresses, jewelry, kids, all strong weaknesses in mattresses, though, and he says that's something they're working on macy's has been also working on updating inventory to bring more shoppers in. and more shoppers were buying at full price as opposed to on sale as in last year. >> stock was up 13%, is that just like sell the news? all the other department

courtney reagan digs deeper into macy's results >> macy's surprised investors in the second quarter and biggest surprise coming from the comparable sales which were expect to drop, but instead the department store posted a gain, marking three straight arters ofrowth. the retailer said the rest of the year looks good which points to the potential for a strong fourth quarter. itsost important of the year and some investors wonder if the strength willontinue. >> comparisons get tougher from here. i think there are a rot of investors who are locking in those gains worrying about what will happen in the third and fourth quarters when that' really what started a year ago. >> the macy's ceo said the strategy and a strong economy drove sales which improved through the quarter. the retailer's online sales logged the 36th straight quarter of double-digit growth and gwinnett said he was most he excited about progress in the stores where there were more transactions and subsequent foot traffic. with malls seeing fewer shoppers than in the past, mayesy's h been reworking the store strategy to fewer

david: macy's stock has been quite -- has been up quite a bit.ong and then second quarter, a lot of people are taking a second look at macy's. they have done internal reengineering that has paid off. alix: maisie stock is up 2% -- macy's stock is up 2%. can they actually be sustained? there is some strength in retail that is not about amazon that has been clouded and potentially, this really giving another boost to amazon. four dollars and $.15, they had seen three dollars and -- or dollars $.15 -- $4.15. david: there has been such a headwind on department stores overall and macy's had been dragged down. seems to be surging back. 0%.: their own brands, sales was up 5/10 of 1%. either way you slice it, not negative, helping sales. their inventory coming in just under 5 billion. i am not sure how that compares to previous. we have been waiting for the inventory build to kick in, in general. analysts haveral, thought they manage their inventory relatively well. beyond their own regular products that they sell, they have moved into backstage and have

>> now, i spoke to macy's ceo, and he says the strong economy is driving macy's sales. month of the quarter after the friends and family sales shifted through april. the momentum ended in july as the strongest month. higher transactions across the store but traffic looks to be in good shape many categories from women's dresses and kids from back to school is all strong he's also working on managing promotions a little bit more ample unit retail of 5%. more shoppers are buying at full price this year compares to last >> becky, back over to you >> kourtney, we talked to dana t t tesley, he hadshe had a little a different number >> it sounds like a lot and it is a lot to run a company like macy's but it is a little lower. >> he also told me that he's proud of mhis employees and they started a new incentive program and 70% of them got it in the first quarter and they think it will be higher this quarter. >> any update of the stores, that's a big deal of how many stores they close. they're thinking of 690 right now and no further updates of the store focus. that's the status

macy tells tir story, and that of many others, in a harrowing account that traces two decades of one of the worst drug crises in american history. it's called "dopesick." >> i heard it overnd over from people who were struggling with opiod addiction. >> brown: you heard that phrasea >>s the word they used. "i'm dope-sick, man," or "i was dope-sick when that happened." what doeit mean? that means, like, excruciating withdrawal. they have sweats, diarrhea, chills, vomiting. and as somebody early on in the book says, at the end of your journey, you're not doing it to get high, you're just doing it to keep from being dope-sick. >> brown: why did you take this on? >> it was just so much pain to process, what these families are going through. but this was a story i started following back when i was a newspaper reporter in 2012, and heroin had landed in roanoke,er virginia, i live, in a big way. >> brown: in "dopesick," macy focuses her reporting on communities along tterstate 81 blue ridge mountains. >> this book is really a microcosm of arica told through three virginia communities. wn: i

r >> woodruff: in w book, "dopesick," journalist and ntthor beth macy takes readers to the fines of the opioid epidemic. as jeffrey brown reports, she outlin what's fueling a growing public health crisis that's killed more than 350,000 americans in the last 15 years. it is rt of our ongoing series, "america addicted." >> brown: tess henry grew up in well-off surroundis in roanoke, virginia. her mother, patricia mehrmann, remembers her as an honor roll udent who wrote poetry at her catholic school. >> my tess was the one whoy would woery day, if her uniform-- was this right? she was very delicate, very sensitive. she s very quiet, but yet ve kind, veryentle. >> brown: in 2012, tess firs became addicted to opioids, after a prescription for bronchitis-related pain. over the next six years, her life would spin out of control to heroin addiction, homelessness and prostitution. >> i liken it to someone you were watching just slowly drown. >> brown: last christmas eve, tess henry's murdered bodys wafound in a dumpster in a las vegas apartment complex. she was 28 years old.e >> peoe so uncomfor

if macy's has done well, should we expect the sort of mini macy's, kohl's, to do well as well >> yesut not because they're a mini macy's -- >> any probably wouldn't like my reference. >> i'm positive on kohl's going through to holiday as of right now. i like the product mix they're emphasizing some areas they have not before, digital is good and their inventory levels appear to be good. >> tj maxx, tjx, one of the most incredible business stories over the last decade. made investors a ton of money. >> yes >> particularly through homegoods. do they continue to outperform >> absolutely. another one for the teen and millennial customer. one of their first choices when we talked to them is they're shopping at tj maxx. they all -- >> really? >> yes >> i thought tj maxx more of the off-price maybe slightly older, looking for the bargain with the brand name it's millennials >> as of about 18 months ago when we started doing checks, the customer was saying she proudly goes to tj maxx because she likes the ability of putting her outfit together without somebody dictating it to her it's about

macy's shares had been rising in the premarket. they are now sharply lower, even after the company sales were better than estimated. what is the problem here? analysts say there is concern about cost. how much is the company spending to get that boost in sales, and how sustainable is that increasing cost as well? the company expects to spend $100 million more in the second half of the year. those shares are now down 11%. we are seeing other retailers down. now let's talk about what is going on with the metals here and with the miners. copper and gold leading declines. concern even as we see a rebound in the turkish lira about falling demand from emerging markets and what that is going to mean for metals. another way of slicing what is happening in metal stocks. metal stocks in yellow and the underlying commodities in blue. finally back to that big marijuana story we have been talking about. constellation brands investing $3.8 billion to increase stake in canopy growth of canada to 38%. that overshadowing an earnings report in canop

that doesn't mean macy's didn't have one heck of a good number. >> does that mean macy's is right sized? >> macy's is and kohl's is and there's a lot of people that will benefit from this a lot of people won't. >> jan, brian, thanks. >>> warren buffett added apple and two big names, cutting stakes in tesla. we're going to whale watch, as we call it we'll tell you who is buying and selling. >>> energy is the worst performing sector in today's sell-off, wti is off about 3% and that's dragging exxon, chevron and the other energy names down with it we'll discuss more as "power lunch" comes right back. >>> three of tesla's biggest share holders cutting their stakes even before elon musk's tweet about going quiet. here's a look at what all the big names are buying and sellers. >> t. rowe and fidelity both slashing their share in tesla. the company surged almost 30% in the quarter so it's likely they were looking to capture some profit there tesla off about 4% in the six weeks since quarter end. amid confusion over the last weeks over the potential take private and regulatory concerns over tes

if you know what happens to great stocks like home depot or macy's. macy's down 16% on what?rm or they have closed stores, we are getting to a very strong fourth quarter with jobs and consumer appetites strong. names like that i think there are real buying opportunities. >> that may have been the biggest sell on the news stock story i have ever seen. >> these retail names are getting so much volatility. i wonder if it is because there is still so much short interest in the group. >> up 95% before the earnings. we have talked about it for a while. >> you couldn't run any harder into a number. >> there was so much, what are they going to do they didn't say anything that bad. they increased earnings. they said going into the quarter things are getting better. >> let's jump away for a moment. cisco earnings just out. josh lipton with the numbers. >>eps of 70 cents versus expectation of 69 cents. revenue 12.84 billion. the stream is 12.77 billion. in terms of guidance q 1 callingeps 70 to 72 cents. and revenue growth between 5% and 7% compare wg expectation of around four percent.

for macy's and the sector are so low that really these guys and i don't mean macy's, the sector has to really screw up to not beat expeck tactationexpectatios for that reason, i think macy's will go higher from here >> smiling because he knows i'm think iing about j.c. penny >> really was. if there was a bubble. is he going bring it up? >> i wasn't. you know that guy at the concert who yells out free bird? >> no. i was going to give you a break. joe look ed at me with that wry smile. i'll bring it up bitcoin is trading at its lowest levels of the year we'll do it next on halftime [music playing] (vo) progress is in the pursuit. audi will cover your first month's lease payment on select models during summer of audi sales event. with tripadvisor, finding your perfect hotel at the lowest price... is as easy as dates, deals, done! simply enter your destination and dates... and see all the hotels for your stay! tripadvisor searches over 200 booking sites... to show you the lowest prices... so you can get the best deal on the right hotel for you. dates, deals, done! tripadvisor. visit tri

is macy's separates from the rest of the pack >> i think macy's is going to have a good quarter. they're in a good position that are valuation, it's up 60% year to date the valuation is trading >> anything you want to pick >> i like macy's and i like kohl's not sure there's as much upside in kohl's as macy's. >> we've owned xrt i think it's a nice broad way to play it. you don't get as much amazon, but i think going into earnings, you're going to have positive performance there. >> kevin, you own depot. that's on tuesday. you own walmart. that's on thursday give us the read going in. >> yep >> i own target as well. discretionary is good. 20% of what i own and i just look at a very, so much pressure we'll put on these names a year ago talk b about getting wiped out by amazon, et cetera they've stabilized and they're coming back and i like the space on a value basis >> good stuff. lind say, thanks again see you begin soon have a good weekend. couple of ore names, big ones reporting next week that we're watching cisco, nvidia, deere >> i own it. last quarter, they gave guidance that

it will bring more foot traffic. -- passed macy's when foot traffic is declining -- declining. thank you. >> clerk: thank you. next speaker, please. >> hello. i cannot express enough how much against us rehearing request i am. they have proven they are not only dedicated to bringing extraordinary ice cream to the city, but also tirelessly working to comply with the appropriate guidelines and to work within the system. this is not an easy process before them. they are dedicated to seeing it through the right and honest way. to approve the rehearing request would be incredibly disheartening to everyone. it sends a message that hard work and merit are meaningless in the face of big business and deep pockets. as a native san franciscan, this is not the image of the city i grew up in. what makes san francisco special is a local businesses and cultures. the stories of the individuals who took risks and pushed boundaries. the voice of the individual has always been exceptionally strong here and there is a long-standing belief that one person really can affect change. to approve a rehe

ashley: what did you make of the macy's report? i thought there was growth slowing down and it was pretty harshly treated in todays session. >> you know, i haven't really, i don't make too much out of days worth of trading i look at the fundamentals and the fundamentals are very good. what we want to do is make sure that they remain very good and that we're doing the kind of things that encourage continued growth. ashley: we talk about retail we talk about the retail ice age with regard to how amazon has become such a giant but those that have adapted are doing quite well. wal-mart has been very aggressive, kroger supermarket another ones that have gone very aggressively into e-commerce. are the retailers finally able to respond to the challenge that amazon & companies like it present? >> i think retailers are doing a great job serving the customer s today. there's no doubt that amazon has changed the model somewhat, but the reality is retailers were making this evolution long before amazon accelerated its growth. customers are cha

macy's coming with some strong numbers.got dinged on stock. >> we have to look at a longer-term perspective on something like macy's where the stock has doubled. it was at 20 and now we are up to 38 or 40. it took a hit on earnings because of bounce back off of expectations. i think there has been a remarkable run for macy's, kohl's, we saw tjx come out. these are some very good numbers. having said that, you have a long way to go. these stocks took a big hit coming off of 09. they have recovered somewhat. if i look at it in terms of versus several years ago they are starting to improve but they have a ways to go. >> the outperformance within retail have been characterized by improving inventory management but also keeping up online. nordstrom has been an example of that with trunks club and walmart is an example. what is the next phase, what is the next challenge for retailers? earlyhink we are in the innings of on the channel retail . these companies are becoming major internet players. macy's is one of the top 10 interne

macy's was doubled, now we are closer to 38-40.was a bounce back off expectations. there has been a remarkable run for macy's, kohl's, tjx. these are good numbers. you have a long way to go. these stocks took a hit off '09. they have recovered somewhat. in terms of versus several years ago, the comps are improving but they have a ways to go. julie: the last phase of out performers within retail have been characterized by a few things. improving inventory management by keeping up online. nordstrom's is an example. walmart too. what is the next challenge for retailers? steve: we are in the early innings of what we used to call omni channel retail. these companies are becoming very major internet players. macy's is one of the top 10 internet players overall. you have a presence in internet but it is not just internet. it is not brick-and-mortar versus just the internet. it is the players that are able to be facile about moving inventory, consumers moving between the channels. you have to have the technological background, the infrastr

i guess, dana, macy's stock.terday it was a horrible day for macy's stock it is still a stock that's nearly doubled over the past year should we worry that macy's was the canary in the retail coal mine >> i think macy's had its own unique situation the numbers reported for the quarter were solid the comparisons in the third and fourth quarter become more difficult. the key will be for all of these retail stocks we need to see the continuation of good sales as we get to the fourth quarter. we are going into a solid back to school season now it feels better. there's trends that consumers are buying, particularly in apparel. i don't think the weakness in macy's that you had could be exposed to the whole group >> you know, the overall retail market is up 12% doubling the s&p this year. if we can bring our chart up again. some of these stocks are up 40%, 50%, 60% in 90 days. have they gotten ahead of themselves some of these were heavily shorted and had big losses last year >> exactly it's a case by case basis on thes

in blue, macy's.f that time, really beating tj maxx relative to revenues. 2014, 2015, tj maxx taking it away up $36 billion in revenue whereas macy's is about .5 $.6 million. it is not really compare to amazon closer to $235 million. tj maxx really outperforming and on the stock, valuation is attractive and it may suggest there is more room to run. vonnie: thank you for the stock of the hour. stay tuned. more on the paul manafort trial and potential verdict. the jury has ash -- asked the judge for guidance on the inability to reach consensus on a single count. what that means, we shall cpi will the jury come back with a verdict and what will the judge tell them about reaching consensus? you will find out on bloomberg. balance of power is next. this is bloomberg. ♪ xfinity mobile is a new wireless network designed to save you money. whether you use your phone to get fit. to find meaningful, thoughtful, slightly-weird gifts. or just to know which way you're facing right now. however you use it, your wir

ralph lauren up around 32% macy's has gained a whopping 60%.here has been upside momentum for many index members of the 80 stocks in this discretionary sector, around a quarter of them are around 5% of their 52 week highs. many parts of the sector were hated, remember, around this same time last year, after a pretty sharp rally, is there enough fuel left in the tank for potentially more upside? we'll get some ideas -- >> thank you >>> our next guest says the retail rally is looking a kbit stretched. >> well, it's been a great run, the issue is where retail is now, in relation to where it's been, so here's a great etf, i try to look at it every day, would i say it's a good thing for everyone to do you see here, it's 89 stocks, consider this. 2.2 trillion and almost 10% of the s&p, the best part is, it's a smattering of names, target, amazon's in there for instance ralph lauren, best buy and the names go on and on and on. foot locker, you can see them here it's an equal weight etf for the most part, and it captures a broad swath from kroger, cost

alix: macy's crushing it, but getting punished. maybe they are spending too much. david: you had to feel sorry for them. alix: a little bit. i guess if you are a long investor with that 65% rise over the next nine months. david: take some off the table. alix: yesterday was a traumatic day. today, futures up 14 points. on the front foot. it is a stronger dollar store that has rocked markets over the last week. now that strength taking a pause. the 2-10 spread deeper. i want to point out copper. an unbelievable move yesterday. it would be hard to look at another selloff in commodities that did not have a specific trigger that had such a deep impact across assets. david: i looked at copper over the year. it has been drifting down. alix: what is so impressive is that on the structural level, some deficits are coming up not being counted for in the metal. that raises the question of the sentiment and how easy it is to change. about investors may think appetite and whether growth will demand copper. alix: exactly. david: let's go to our first take. we are joined by gina

as you think about the mix of a macy's versus a jc wenn krrkc pa favors a macy's. i think the trade up is favoring the retailers selling the innovative national brands we also like the global brands nike, lululemon. i think that's where you want to be thinking in and about this underlying stronger consumer backdrop where does the consumer want to be spending and that's a theme we've heard. the last couple of years, it's been all about value >> matt, just a few weeks ago, we were worried about who has china exposure who is using private label they're making it in china shouldn't we be concerned? what happened to that? >> no, it's an interesting point and still a concern. what most companies are telling us they have been diversifying their production over the last couple of years. and what interestingly, if you take the handbag man fufacturers as a perfect case in point, both coach and kors were telling us they could shift production from 0% from china from one to two seasons. it's something to be aware of. something to rank from top to bottom if an announcement incr

macy's, wal-mart, go down the list.ave been really seeing strength in terms of the consumer. >> comparable food sales and people getting out of computer and shopping. >> 10 years? dagen: both wal-mart and target, target had best results in a decade. >> tjmaxx is killing it. >> that's my wife, by the way. [laughter] maria: check credit card. dagen: i never thought that the retail sector, that brick and mortar stores were dead ever, i just thought it's the combination of a better shopping experience knowing what those customers want in the stores based on activity on the websites and i like seeing people out shopping just simply because it sends sign of optimism, people are confident, they are willing to get throughout with their family and do something. >> very strong start to back to school, 80% plus correlation between strong back to school and strong christmas. that gives us a good fundamental consumer backdrop for second half. >> interesting. >> so that suggest that is the second half gdp numbers ought to be 3% plus.

julie: macy's is our stock of the hour, moving back to the u.s.more than 14%, or did at one point. they are having their worst day since -- emma chandra is here. earnings report looked pretty good and it looks like our explanation is the cost may be the problem. emma: it was a strong second-quarter be across the board. i have the comparison sales here. it was their third straight quarter of positive growth after 11 of decline. bloomberg intelligence, many of the analysts inc. there was nothing bad. looked like it was pointing toward the company making good progress trying to turn around and realign itself with the changing consumer as they shop more online. investors do not like the costs associated with the change. on its earnings call they can season growth margin pressure in the second half. other people noting they raised their full-year guidance by the amount they beat this past quarter, saying that is very conservative. i spoke with bloomberg intelligence and macy's tends to be conservative with their guidance. all department stores falling

macy's was down 16%. and gap, other retailers announcing in the days to come also taking a hit. joe: let's take a look at the government bond market in the u.s.. rates are lower by a meaningful amount. -- the two-year is down, the tenure is down, and this is classic risk off and people are rotating into fixed income. lisa: data crossing the terminal now saying china is holding u.s. treasury belts to $4.4 billion in the last quarter. let's take a look at currencies. it is the dollar ascended with the exception of the turkish lira which is gaining a little bit of steam. the euro gained against the dollar, and the dollar is gaining against the peso. the dollar as a whole, if you look at the broader bloomberg, our index is at its highest level since june 21, 2017. it is still a king dollar story, joe. dollar istrengthening one factor for a brutal day for the industrial metals. it is an all metals day on the commodity section. downnum is down 4%, silver 4%, zinc down 6%, up or down 4%. -- copper down 4%. could

shares of macy's down nearly 10%. however, bulls are shopping for the stock. is at the telestrator with that trade and more. also joining us from minneapolis is the other najarian. >> the less handsome one >> pete not here to defend himself. what are you seeing? >> okay. i'm going start it off this one had the big fall off. perhaps the wak to school season really drives this one higherment they're buying september calls. so they bought 10,000 september 40 calls for 57 cents, cheap shot and sold a strike above it for 23 cents got a second one real quick and that is the tell take a look. it's up 30 cents today which is almost 5%. what are they doing? buying in april. so for people that don't want to trade the real, real fast money and instead want something further out in time, this one, april 12.5 calls for a $7 stock gives you lot of time to be right. traded about 450,000 share equivalan equivalent, pete >> okay. got that, pete, why don't you say something smart. >> dow dupont. august 7th, we had buyers of the october 70 calls 5500 of those were bought. that w

>> i bought some macy's, when people miss on earnings i like to wait a couple of days a three-day rule down more than six bucks on what i didn't think it was a disaster at all i also bought some baba calls. that space has earnings -- >> ahead of earnings next week so that's a much shorter term trade than what i normally would do, but that stock, like, the universe of those stocks there's been obliteratid and think the story is still very much intact. the valuation is very different. >> and then i had some s&p puts and i would probably start to sell those tomorrow if we see any increase in the vix. >> coming up, the nasdaq getting hit the hardest and one tech nigd says there are three names to buy on the dip. don't look now, but bitcoin is rallying what's behind the move and is the crypto crush over? we have the details and later, fast tweeting. the tesla's board members have reportedly been telling elon musk to take the company private at risk? we will plexain. we are at times square in new york city. much more "fast money" after this from the nyeri highlands, 6,000 feet above sea leve

looking at shares of macy's come in of macy's, the stock has nearly doubled from a year ago. a closer look at the expectations and the retail sales report for july and all the numbers coming in this week later on in the show. lauren: the economy doing better. one of wall street's most profitable companies will remain profitable. cheryl: bags during some of the headlines this morning. >> according to a new security filing increased its holding of apple stock at 12.4 million shares in the second quarter taking a stake to 46 by $6 billion by the end of june. brookshire more than doubling its stake in apple in 2017 and has continuously added shares of apple. the second-largest shareholder as of march 31st. lauren: let's talk bringing up ships. >> we're going to talk about airplanes, too. for the caribbean will no longer allow passengers to bring emotional support animals with them aboard its ships. effective immediately if passengers made reservations to to -- they will still be allowed on board, the reservations after that will not accompany the animals. meanwhile, southwest air

macy's also rising, almost 3%. macy's reported -- reports earnings tomorrow. is up almost 60% year to date. currently up 3% at the moment. sales haveent store been positive the last two quarters. investors and analysts are hoping to see that again. the company has been investing more in experiences. we have a terminal that shows the same store sales of macy's. we should be able to bring it up. you can to the last few quarters in the green. the hope is we will see something similar tomorrow. the company has been overhauling , bringing in new things like a marketplace for consumers to spend time in and discover new brands. scarlet: reinventing the layout and presentation, but also shrinking its foot end. emma: that's right. they have been closing stores but they have almost 700 macy's and bloomingdale's. about one third of the 700 show -- stores are in a locations. a lot of analysts saying the rest is still up for discussion. we spoke to the fund manager which was bought into macy's saying that macy's portfolio is worth the full market cap of the company. we wil

macy's tumbled and that's despite beating forecasts. haidi: the dollar reeling from the trade war. ramy: and tesla declines for a second day on reports of a subpoena from the s.e.c. it concerns elon musk funding secure tweet. haidi: hello from sydney where it's just past 58 a.m. here. i'm haidi stroud-watts. ramy: and it's just past 6:00 p.m. here in new york. i'm ramy inocencio. we'll be looking at how action in wall street and around the world will play into the asia pacific trading day. today's turmoil was brought to you by the letter t, turkey, ten cent, tesla and who let the bears out? copper now in a bear market. e.m. equities also. of course the s&p down by the most in about seven weeks. let's get more with su keenan here in new york. sue, even some positive u.s. data couldn't stop this sea of redful >> not at all. name the commodity, it's a down day. the trade war and turkey. the only one-two punch, stocks closed off the lows but boy, they were down. 10 cent, tech stocks were the lowest. the s&p 500 again down for a fifth out of six sessions. let's go to the commodity story

, i still like them, i would be a buy on macy's i like macy's, i like kohl's, walmart.oms will be okay, those are the winners in the space we know who the losers are, seeing them get washed out dillards was not strong, penney in the tank. there will be winners, i think i named them top to bottom in the space, until you get down to dollar stores. they're continuing to win. i say all the time, if you're not off price, online, local, you're losing market share that space is all still winning. there can be individual winners in any of the categories, even department stores. >> always great to get your thoughts thanks for joining us. >>> what a week. then there's apple keep an eye on this. apple continues to pull away from the overall market. 213.53 is the high for the secretary. has huge impact. "squawk alley" back in a minute. with tripadvisor, finding your perfect hotel at the lowest price... is as easy as dates, deals, done! simply enter your destination and dates... and see all the hotels for your stay! tripadvisor searches over 200 booking sites... to show you the lowe

forecast as well joining me terry lundgren former ceo of macy's thank you for being here how would you characterize backdrop in terms of retails consumer spending. >> would i say encouraging consumers spending confident feeling good about buying discretionary items almost across the board retail rebound is here, and they have not only we have seen good comp store sales great earnings forecasts that have been raised in terms of expectations going forward so i think a really good picture. >> interesting because earlier this year we were worried about consumer, consumer feeling pressure this is really important, that is going to slow down the economy we didn't see that at all we are seeing pretty good back to school season too. >> for sure, you know i think what we saw maria we saw a monthh number of things consumer enhancinging habits baby boomers replaced in numbers by millennials spent differently so had to deal with that in your forecast, number one, number two is you saw a consumer that was a little skittish weren't insurer where if in market where the market was going

romaine: let's talk about macy's.he one of the most surprising stories in the previous quarter. i'm a little curious. what is unique about macy's itself? when i look at the retailers, the winning formula is to survey niche. macy's is basically the opposite. sarah: [laughter] you are right. i think that is what is puzzling for me about the fact that their stock is up 60% year to date. i think what is happening is that they hit an inflection point where after three years of declining sales, they achieved positive comparable sales in the holiday season and the first quarter. i think there was a little bit of an allusion going on. there was a friends and family sale typically that would happen in this quarter that's got moved to the first quarter. it made the results good and i think investors got starry eyed. i think we will see the flipside this quarter and we will be back through raining -- wringing our hands into the digital area. for your question, there's not much unique about macy's. i think that will come into eff

we will have retail earnings from home depot, macy's, walmart and nordstrom.bloomberg markets. the big story, turkey. turkish, crisis didn't show signs of letting up. you can see what happened in the various assets. the lira reaching that record lows. the turkish 10-year is up 22% and you can see that the equity market is down 4%. we are going to turn to our colleague in istanbul. we are going to put on the screen what they did this morning to alleviate the situation. its dealt with speculation. at the moment we are not seeing much of a movement. initially the lira climbed back from the losses. traders realized this was a halfhearted move in a way to skirt the real issues, the politically charged discussion around interest rates. moments ago they came out in a speech and said again the current issue is going to get resolved on its own. the united states stabbed turkey in the back. a lot of combative language we heard. what remains to be seen is how long turkey can hold on because if it is a question of toughening, double-digit inflation locally, billions of do

they're very bullish on macy's which hit its low last november and it's been rising ever since so macy's is expected to do very well and that's a key to look to this week we also have wal-mart that we could look to this week and the home depot is another key company and again the independent analysts are very bullish on what these numbers are going to show us top line bottom line and that's that's just great news for the economy more good news for the economy but we'll keep our fingers crossed as always conservative t.v. and radio commentator steve malzberg thanks steve thank you bart and that's it for this time you can catch boom bust on direct t.v. channel three twenty one dish network channel two a day or streaming twenty four seven on pluto t.v. the free t.v. application channel one thirty two or as always catches at youtube dot com slash boom bust r t we'll catch you next time please. america was never great was founded on the rape in the murder. nothing changed so we said all response to these situations that we do in the ways. people get sad every day she is just sad people kill e

macy's is another example of today's report, and the growth.ere good but investors were not excited about it because you need organic growth to compensate for the changing environment of rising interest rates, rising inflation and costs. >> you are saying look at the growth rates, nothing much the traditional metrics. example amazon would be a winner in the megatrend, forget the valuation and traditional pe , you have to pay attention to the organic growth. >> the top line growth in excess of 30%, organic growth, i'm not saying disregard valuation. amazon is unique. three if not for businesses in one. a1-stop shop in regards to e-commerce. and grocery's as a percentage of online sales that is only increasing. organic growth, and better profitability because of other businesses that are more profitable than e-commerce. the valuation is always important, and ratios like tech allow us to do better work on assessing the value of a stock. shares,ooking at amazon down more than 2%, are you buying? our topn is one of names, it's one of our biggest ove

they're very bullish on macy's which hit its low last november and it's been rising ever since so macy's is expected to do very well and that's a key to look to this week we also have wal-mart that we could look to this week and the home depot is another key company and again the independent analysts are very bullish on what these numbers are going to show us top line bottom line and that's that's just great news for the economy more good news for the economy well we'll keep our fingers crossed as always conservative t.v. and radio commentator steve malzberg thanks steve thank you bart and that's it for this time you can catch boom bust on direct t.v. channel three twenty one dish network channel two a day or streaming twenty four seven on pluto t.v. the free t.v. application channel one thirty two or as always catches at youtube dot com slash boom bust r t we'll catch you next time. please. what politicians do something to. put themselves on the lawn and they get accepted or rejected. so when you want to be president or injury or somehow want to preserve . it's a right to be for us this

earning season in full swing there they are for you home depot, macy's, wal-mart, jc penny.ome depot and wal-mart can swing in 4% and jcp, 18% one of the names for an even higher >> wal-mart, the implied move is 4% in either direction, i think thursday, august 16th, on average the stock has moved about 6% so that spread with what is implied and what is moving caught my eye. if you look at the one year chart for wal-mart, this was one of the early leaders in retail it had a drop into earlier this summer to up to about 10% and it looks like an interesting technical level here there's a couple of other things going on amazon is at an all-time high. costco trading near its all-time high target has a massive rally up 26% on the year near its all-time high wal-mart has a couple of fundamental issues, if it gets better on the groceries and in-store traffic and margin improvement. if they go to that, it is going above. a five-year chart and this got my eye informing the strikes on the trade. you get through 90 and there's like open air to about $100. here is the trade, when the stoc

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. >>> the r wail sectorl be in focus this week, home depot, macys and walmart will be reporting their latest earnings. along with coach, j.c. penny and nordstrom. charlie'shea joins us now to talk about the outlook for the results at moodies. >> good to see you again. welcome back. >> this has been a very strong ngearnings repor season. do you expect the retailers to continue that tnd? >> yeah, i think so. i think when you're looking at walmar for instance, and that's one of the highlight names i think this week, and as it is every quarter, i think walmart provides a window to tht soul for u.s. consumer. and i think in that vain walmart's been investing heavily trying to get the food busines on all cylinders. that will give us an idea of how the consumer is feeling, and give us a backdrop going into the second half of the season, back to school and holiday this year. >> what about some of the department stores, macys and jcpenney? >> i think they're all going down the same path, all trying to lean up anywhere inventories so margins will be better. they're trying to get their online bu