good morning. >> good morning, melissa lee.rkel comments and europe slowly coming back into the news, even though many traders and a lot of the activity is probably not going to come back till we get into september, there's this ongoing debate and it's actually twofold. what has been the cause for interest rates -- you hear a lot of reasons but they don't hold water because equity markets aren't going down. a lot of the reasons interest rates would go up. it's ryan being the vp pick, because of the federal reserve implications for ben and q.e. doesn't hold water because that was pushing rates up, why wouldn't stocks go down? the markets have an opinion. when did mario draghi come out with his comments? july 26th. let's make that the starting point and let the markets have a say-so in this because it's pretty revealing. if you look at the charts in that context, look at ten-year note yields. remember, two days afterthat comment on the 24th was our lowest yield close ever under 1.40. pretty much straight up, don't you think? let'

live from the nasdaq markets, i'm melissa lee. these are the traders here on this desk. the only thing hotter than the weather here is the stock market. the dow hitting lows not seen since 2007. how much longer can this rally run? let's get in the money and find out. we start with a tesk skeptic. he is the most skeptical on the desk. everybody is skeptical. home builders, oil stocks and more. what's wrong with that, dan? >> listen, everything is great. to be a skeptic of this market is a bit exhausting. i'm pretty much ready to throw my hands in the air. you know, when i look at the s&p 500 and i look at the con trags of the top ten names, they make 20% of the waiting of the entire intex, ten names. seven of those. a small amount of stocks driving a great bit of performance. all are at major lows relative to where the s&p was. if you look at the highs back in 2007, the readings were much,much higher. to me, the rally is getting narrower and narrower. >> to some extent, past rallies, haven't they also been led by a handful of stocks? i mean, yes, we're used to it being fi

i'm melissa lee. more options action at 5:00 eastern time. "money in motion" up right after this.e a high-speed train. and you don't want to miss it with thinkorswim by td ameritrade. you get knock-your-socks-off tools, simple one-click orders, real-time paper trading to hone your skills, plus anytime you need it support. ♪ stocks, options, futures, and forex. get your trading on track.

." >>> live from the nasdaq market site in new york city's times square, i'm melissa lee. stocks rise again as treasury investors continue to sell the dow. in fact, only 29 points away from a four and a half year closing high so the question we pose to you tonight. is the safety trade over? should you be adding more risk to your portfolio at this point? you know the bond numbers. we've seen a surge in treasury yields and dug up a a lot of numbers in terms of the valuations of various sectors which have led the markets higher. defensive sectors, utilities, consumer staples, and what have we found? we found that they are in fact trading at a huge percentage above their historical average when you take a look at it on a pe basis. tim, should we be getting concerned that the markets are getting a little bit toppy here? >> should be concerned about buying expensive companies. certainly there's danger in going after the same places that have worked when in fact a lot of these companies, and we've seen it, those that have missed have really been punished but we saw from cisco ton

live from the nasdaq markets, i'm melissa lee. these are the traders here on this desk. we get to the trades in a moment. the only thing hotter than the weather here is the stock market. the dow hitting lows not seen since 2007. how much longer can this rally run? let's get in the money and find out. we start with a desk skeptic. he is the most skeptical on the desk. everybody is skeptical. home builders, oil stocks, and apple making a 52-week high today. what's wrong with that, dan? >> listen, everything is great. to be a skeptic of this market is a bit exhausting. i'm pretty much ready to throw my hands in the air. you think about, you mentioned things acting very well. technical setup looks very good. in general, people feel better than they did two months ago. we're seeing that in sentiment readings. when i look at the concentration of the top ten names, they make 20% of the weighting of the entire index. ten names. seven of those are actually at 52-week or all-time highs. a small amount of stocks driving a great bit of performance. we have a chart here. if you look

. >> i'm melissa lee. thanks so much for watching. it's great

. >> i'm melissa lee. stocks struggling to hold on to recent highs. help may be on the way. how did you interpret the minutes? >> perhaps you could say there was a bit of a stronger signal. maybe it is. i am still of the opinion that qe 3 is not going to do anything. the economy is not weakening because rates all of the sudden spiked. the ten year rate is going down to 152 from where it is now. for me, that is where my bearishness comes from. if the market wants to hope that we go higher, let the market hope that. but i'm not in that camp. >> it did feel like it zipped up the back. >> i think they gave us a little bit more in the minutes. i think you have got almost the reverse action which is when the market is a little disappointed and sold off. it does set the stage for a bigger disappointment at jackson hole and that is the concern for other people on the desk. i think people coming on the show later will give us the technical in a second. when i look at the numbers we have gotten in the home sector and housing sector, we will be getting better numbers. crazy if they're

live from the naz tack market site, i'm melissa lee. apple becoming the largest market and cap company in the world. in terms of buying into this at this point you are seeing a lot of evidence that people are willing to do that? >> exactly. during the day and we saw discipline. something you would be happy to see when people are taking a little money off the table. it is nearly a quarter of a trillion the dollars this year. today somebody took off an awful lot of the 6:15 calls. then they stepped up. 1.2 million shares of apple equivalent. so that is nearly 3 quarters of a billion dollars in a single trade. i am not surprised that they are gyrating towards options. options given the leverage. >> likely we will keep in mind if inflation were to adjust, it still has a lot of room to actually take the record. microsoft would still be the record holder in today's dollars. apple would have to eclipse $900 a share. so this by a long shot is not over. >> when you had apple go from 400 to 600. i think at some point we will talk about a change i

melissa lee as a preview. >> fast money with the markets at multiyear highs, we'll check in with bankamerica and merrill lynch. also, first on cnbc, an exclusive with the ceo of kayak. and of course, we'll be on the hue let packard conference call trading those comments live. that and more. >> the fbi wants you to help solve the case of a while collar fugitive that vanished into thin air. on's american greed, jim hannas kept a secret room that he said there were gifts for her in there. there are no presents, instead there are books, reborn in the usa, personal privacy through the cia. how to disappear and not be found, and obituaries, birth secertificate certificates, death certificates. >> most were people who were young that had not used a social security number or maybe had not been issued one. >> try and solve this mystery on american greed, the fugitives tonight. join us on cnbc. next up, key readings on the economy. what ones will move your money the most. [ male announcer ] when this hotel added aflac to provide a better benefits package... oahhh! [ male announcer ] it made a b

melissa lee has a check in. >> hi, top of the hour, we have a very special edition of the show, we have see what he has next for the company and what he is up to at navistar, and then we have mark from the doom and gloom report. and then, of course, we're trading all of the after hours action for cisco, on the conference call with traders and we'll give you the trade ahead of tomorrow's session. all of that and more tomorrow. see you then. >> all right, we'll be there. meanwhile, first, what will move your money in the morning? we'll tell you. three of the top money pros give you a leg up, stay with us on that. back in a moment. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm with scottrade.

. >> fast money begins in a few minutes, melissa lee has a preview. >>> hi, top of the hour on fast moneypecial guest, the one analyst on the street that dare i say it, downgraded apple today. we'll get his take on why the downgrade was warranted, and then an interview with the ceo of toll brothers. i'll find out what is in the pipeline ahead of the earnings release tomorrow morning, and the dell conference call will be underway at the top of the hour. that and more. see you then. >>> melissa will be there, up next, ben bernanke your your money, the federal reserve expecting to give us a glimpse on what it might or might not do. n't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... [ all ] i'm with scottrade. wanted to provide better employee benefits while bala

live from the nasdaq market site in new york city's times square, i'm melissa lee. stocks dropped today. cold water thrown on qe-3. still, this afternoon, others saying qe-3 is a done deal. joe? >> i think last night most people probably got it wrong. i agree. what you saw in the minutes really was stale. they did not have, on july 31st and august 1st, the benefit of looking forward to the august 3rd labor report. you saw 172,000 private sector jobs, well ahead of analysts' expectations. you also had an s&p here that has risen to 1415. this is much different than 2010. you had an sep decelerating. you had private sector jobs not going anywhere. i think the trade off of all this is when you look at the performance on oil, the performance of steel and coal, you don't go with that reflags their trade. that's a technical trade. i take the other side of those that say it's because of qe-3. >> karen. >> a couple things about qe-3. i don't know if we're going to have it, if we're not. i don't know that it matters, really. the market's response to each big policy move is le

place on earth where they take pride in cooking hot dogs in dirty water, i'm brian sullivan in for melissa lee. will ben bernanke make a move? that's the big question out of the fed's chair big speech in jackson hole, wyoming, tomorrow. stocks today, though, seemed to maybe already have the answer. major u.s. averages falling as the hopes for more easing appear to have eased themselves. at least for now. let's turn to our traders. what do we make of today's action? john. >> i like the action today. i think this is typical of what we -- >> on the short side. >> it is. we talked about it earlier in the week. we said, what are you going to see ahead of this fed meeting in jackson hole? you're going see selling. why is that? nervousness always occurs before these events. it's happened every time whether it was greece, spain, italy, u.s. issues. it's always happened, folks. has it been a buying opportunity? the answer is yes. now, whether or not this one will be, we don't have to wait even 24 hours to find out that answer. >> it's interesting. i think everybody's pointing to the holiday week. i und

with melissa lee, david faber at the nyse. stocks at some three-month highs this morning and whos for more fed action possibly feeding that today. seven points to the upside. as for europe, they're up for three straight days despite less than stellar data. >> so, our road back this morning begins in boston where eric rosenberg is calling for open ended easing. >> standard charter stock down 20% after new york state accuses it of illegally doing business with iran. >> amazon declares war on zynga, but is the retailer spreading itself too thin? >> and youtube will no longer come standard on your iphone. what's the the trade now from apple as it flirts once again with some all time high sns. >> let's get to eric and the the federal reserve of boston saying the fed needs to take action to ignite economic growth. let's bring in cnbc's senior correspondent, steve liesman with more coming off of an interview with eric. >> i think there's three things eric has decided. first is that as you said, the second half of the year, this is no

i'm simon hobbs with melissa lee. as we start another week of trading. an awful lot ahead to get to 23 points on the dow. s&p slightly lower as well as you can see. gena lot of headlines this morning with regards to facebook in the red again today. in fact, falling to a new all-time low. now more than half its value destroyed since it went public in may. this is investors brace for 1.4 billion more shares of the business to come to market potentially through november as those lockups expire. cough entry health and aetna, two of the biggest gainers after aetna agreed to buy coventry in a $5.7 billion deal. coventry is trading at now four-year highs on that news as you can see. >> so let's get to the road map. shares of best buy taking a big hitt hit today after the company names a new ceo. reports talks founder richard schultz would take the company private have broken down. is the new ceo the man to turn it around for the struggling retailer, plus how you should be playing the stock. apple seemingly unstoppable, hitti

i'm carl quintanilla with melissa lee. david faber is off today. moderate weakness, of course, after a rough few days. got some durable numbers not too long ago. not bad. the lower, once you start to strip out the ex-transports, we watch a meeting coming out between merkel. dan greenhouse with btig and cnbc contributor. a lot to get with with dan. >> absolutely. let's get to our road maps this morning. the markets reversal after four straight days down after highs earlier this week and now chatter about september. trying to batten down the hatches? >> and are the federal officials having any impact on what ben bernanke is going to say in jake s jackson hole next week? >> and you know who owns a lot of facebook? morgan stanley. first, the dow and s&p coming off the worst numbers in a week. all three indices are still in positive territory with the dow clinging to some gains. but will september give the bulls something to threat about? we know september's seasonally week. there will be a lot more speculation about jackson hole. is there a good reason

i'm carl quintanilla with melissa lee and david faber. jim cramer is off.e're not getting a lot of data this week but a lot of breaking news in the past hour which we'll tell you all about. there's a look at futures. implied opening 23 points. europe as well. not only is the spanish two year down to 2.35 it was at 7 not too long. a trading glitch on the ibex has halted trading this morning. something global markets are becoming familiar with. >> no clarity on what the glitch is. a story we're keeping on top of. let's kick off our road map. a load of breaking news. founder of best buy offering to take the struggling retailer private for $24 to $26 a share. will it happen and what does he see that short sellers do not. >> knight capital gets that lifeline but crushes the common. 70% dilution even with it. can knight survive as an ongoing entity? >> it may not feel like it but the dow is just 180 points from its high for the year. four straight weeks. what's needed to help keep the summer vibe alive. >> breaking news, best bitrading sharply higher on news the

melissa lee, back to you. >> rick santelli, thanks thanks to much. >> and it's knightmare on wall street. yesterday's knight capital trading glitch set to cost the firm a whopping $440 million. find out what a top strategist has to say about those problems and the effect they could have on investor confidence in the future. >> major retailers out with their numbers. adrian shapira. >> and the buy to represent market. morgan stanley's head of strategy launching his own new housing-related fund. we'll sit down with the man behind that and talk about what is going on with the market and how you can profit. >> first of all, let's just talk about what is going on with the european central bank. i appreciate that the markets are in negative territory. to me something very important has happened in europe over the last hour. with a very cool head, the head of the ecb has laid out a battle plan to stave eurozone.that is not overstating what the man is saying. he's trying to keep everybody on board to go through this battle plan. the whole of the european cou

. ♪ >>> good wednesday morning, welcome to "squawk on the street," i'm melissa lee, we're live from theew york stock exchange. want to see how we're setting up for the morning. take a look at u.s. futures here, a couple pieces of data driving. empire state manufacturing index, that contracted for july, so we're seeing a biens downward here in futures. for the picture over in europe, we have red arrows across the board but just fractional losses at this point. >> so for the second day in a row, we lead with good news in retail, target raising it's outlook for the year. stocks near a five-year high. >> then there is staples with an earnings miss, negative comps, and a steep decline in computer sales, stocks down by about 10%. >> deere cutting it's outlook but with decent results in the u.s. what's the impact of the drought on farmer's willingness to buy equipment. >> and where are so many positions completely -- it may hint that some of the selling is driven by redemption pressure. >> target, profits up $1.12 a share. it says it's boosting it's guidance by a nickel. jim, the retail story

melissa lee, jim cramer, david faber. good morning to you. take a look at futures. we continue to wrestle with some critical levels here. s&p around 1500. the nasdaq is at 3,000. joe, of course, mentioned the some of the pressure that we may get from mcdonald's on the dow. europe a little bit more pressure, after a few good days. stemming from a bit of negative outlook on the s&p based on greece. >> this road map this morning takes us back to cramer's market. >> plenty of macro worries. priceline said that europe is weak and is going to get worst. >> big day here for retail results. ralph lauren's forecast is more consecutive. >> and starbucks switching its credit card payment to square. >>> as we mentioned, futures are signalling right now a lower open. paring a three-day rally on wall street. the s&p trading close to postfinancial crisis highs. s&p closed above 1400. jim, we have been talking to so many strategists, these are great things, we're climbing the proverbial wall of worry. that bodes well for us. who cares about europe? >> one of the funny things about

i'm melissa lee with jim cramer and david faber. carl has the morning off. the markets are adjusting a slight increase in jobless claims, and building permits rising to the highest level in four years. we are setting up for a higher open. s&p about, nasdaq looking at about 10. we do have pretty sharp gains in both italy as well as spain, seeing more than 1% increases. a road map for this morning. starts off with walmart. lukewarm guidance. are the best days over after a steep climb this year? >> a massive dividend hike, sending cisco shares higher, the company sounding more optimistic, but does it focus on capital returns signal slowing growth? >> today is the day facebook's first lockup expiration is here, potentially sending 10% of its hope to the market. we are tracking the fb trade. >> and a microphone always helps me. appletv, more than a settop box? we'll have the latest. >>> let's start off with walmart. at the dow component offering beating the street by a penny, revenues coming in a by shy of analyst estimates. the retail giant also raising full-yea

welcome to "squawk on the street," i'm melissa lee with carl kint knquintanilla and jim. slight uptick in the claims numbers. it's a flash pmi coming out of china holding us lower in the morning. the dow, s&p and nasdaq looking to open lower. key meeting in europe between merkel and olon. >>> the fed president says the probability of qe, not as high as the markets expected this summer. he adds if growth stays at 2%, the fed stays on hold. what does that mean for your investments? >> meantime, china may be quicker to ease after manufacturie ining data came in negative for the tenth straight month. in the meantime, tacking on another 20 buck here. >> hewlett-packard lowers the high end of its earnings forecast, says it's too smart to try to beat apple at a consumer tablet. what's next for hp as apple hits yet another all-time high? >>> still, the buzz surrounding yesterday's release of the fmoc minutes of the july fed policy meeting. this morning on "squawk" jim bullard said the fed minutes are a bit stale and it's not clear to him that action is needed now. probably the mo

as we look at these pictures from the floor, i want to try to find bob pisani and melissa lee becausey're in there somewhere, guys. >> i think bob pisani is lost in the crowd. you cannot imagine the number of people, probably about ten tede where man u. is going to start trading. latest indication is 14 to a quarter. we're looking just about 14. this is the fifth ipo, priced below the range. below the expected range, so it will be interesting to see how this opens for trade. right now, we're not looking for the huge first day pop, but maybe this is pretty good. even some analysts had priced the the shares at about $10, so they're saying it is closer to ten. so, we're going to wait for this thing to start trading. we're going to find bob and we're going to hand it back to you in the meantime. >> don't get lost. if you do, we're at the big, huge set in the middle of the room. we'll see you in a few moments. let's take about rim. david, if you don't mind. some reports that even with all the rumors about samsung possiblily taking an interest, the rumor is ibm wanting to look at the enterp

by the way, kelly evans is here all week on set filling in for melissa lee. >> so she's not off -- >>and she magically appears in new york city. >> how did andy murray beat federer? who's best now? >> i don't know. it's a good question. >> who's going to win the u.s. open? >> my money's on djokovic. >> joe's back on his country kick. >> i love it when you come back. you're so rested and relaxed. >> and you know how long it lasts. tomorrow i'm going to be -- >> wait a second. this has lasted the whole show. >> it has. it's a miracle. anyway, thanks, carl. see you in just a few minutes. >>> coming up, parting shots from bob dahl, stick around. ♪ ♪ i can do anything ♪ i can do anything today ♪ i can go anywhere ♪ i can go anywhere today ♪ la la la la la la la [ male announcer ] dow solutions help millions of people by helping to make gluten free bread that doesn't taste gluten free. together, the elements of science and the human element can solve anything. solutionism. the new optimism. tdd#: 1-800-345-2550 when the spx crossed above its 50 day moving average, tdd#: 1-800-345-2550 i saw

i'm carl quintanilla with melissa lee, jim cramer, david faber live at the new york stock exchange. if you're looking to see if futures are reacting to the news about paul ryan over the weekend, not a lot of reaction so far. we've got a lot to handle, a lot of news today from both the united states, of course, and europe. things like the greek economy down another 6% in the second quarter. >> roadmap this morning starts in iowa where paul ryan starts his first week of campaigning. should the markets start discounting some of the policies he's advocated, like an end to the capital gains tax? we'll break down the policy and the politics. >> speaking of markets, we are up five straight weeks, that's the longest stretch since ok. only 72 points away from a new 2012 high on the dow. can the melt-up continue as we enter a data-heavy week? >> goldman sachs takes coca-cola off the conviction buy list raising the question, are these high multiple defensive names topping out? >> and google upgraded by the same morgan stanley analyst who cut facebook's numbers ahead of that ipo. his argument,

i'm carl quintanilla along with melissa lee, jim cramer, david faber. retail sales, the largest jump since february in about five months. with that a little nice pop on the futures there. as for europe, some pretty decent gdp in your opinions out -- numbers out of france, out of germany. >> our road map this morning starts with the power of home depot raising its forecast and posting positive numbers on everything from comps to average tickets. should your portfolio be wearing orange today? >> a slew of others. michael kors with a blowout quarter. where is the american consumer's head right now? >> groupon getting crushed. down about 20% after the core daily deals business is slowing dramatically. >>> we'll start with earnings from dow component home depot. t home depot raising full year earning's guidance to 2.95. three cents above consensus estimates. previously they were at 2.90. people talking about consumers maybe not buying expensive stuff like cabinets. average transaction going up. >> this company has been on fire since blake took over. i got to

we're live at the nyse, melissa lee, jim cramer, dave faber going to be back on tuesday. take a look ahead hitting at the top of 10 a.m., good action as people begin to make some bets, at least directionally. we should mention the dow is having the worst week in about three months, in the red for the month of august by the slimmest of margins, down 7 points for the month. as for europe the euro having its highest level since mid-july. we'll keep an eye on that as we get head lines out of central banks over there. the road map, jackson hole, wyoming, bernanke headlines an hour from now and bring you those live and see how markets react to the long awaited speech. >> that's right. the ecb may give the power to grant bank licenses, another step towards a full blown banking union in europe and. >> mitt romney makes his case in tampa tellingers you don't have to feel guilty by firing barack obama but was he upstaged by clint eastwood? >> if you're waiting for an i phone 5, apple facing supply shortages from component makers. >> at 10 a.m. eastern time reserve chairman ben bern

i'm carl quintanilla with melissa lee live and cramer and faber are off this morning. poised to rally on a better than expected july number up 163, and look at the futures a monster rally here and we will see if it holds. as for europe in the green for most of the morning after a big drop of the spanish short-term debt and more on that later on. >> look at the gains across europe and the road map no surprise starts with the simple question, how do you spell relief? the jobs numbers adding 163,000, the most since february and the rescissi revisions at a minimum. we will talk to the knight-mare continues at knight capital. we will discuss that. >> and we will talk to the ceo exclusively at 1040 a.m. from li linkedin. good friday morning. some people may be relieved with this number, but the rate did not change much and some people are saying it is not good enough. but the first take? >> well, it is important to remember that the economists were basically saying that in the winter the job growth was too strong and in the spring, too weak, and the average as mark zandi sai

melissa lee, jim cramer, david faber are off this week. latest s&p case-shiller home price index just released. results at the bottom of your screen. 1.2% year over year in the second quarter for the second consecutive month all 20 cities in both composites had monthly positive gains. we'll talk to david blitzer from s&p in a few moments to break down those numbers. in the meantime take a look at futures. lot going on for week before labor day. moderate weakness. talk about what's leading to that. europe as well some surprising headlines. decent auctions out of italy and spain. some surprising news as well from mario draghi in just a moment. our road map starts off on off the gulf coast where tropical storm isaac has almost reached hurricane status and is expected to make landfall today or tomorrow. the question is where exactly. what's next for gas prices with nearly all oil production in the gulf halted? >>> mario draghi canceling on jackson hole citing a heavy workload over the next couple daus. what that means for the fed conference an