but the indications going into that open was about 370. >> mike santolli we're at 375. it was at 367.25 so people are believing it this up to 380, but we're not up to that 420 price. >> look, the stock traded, if i'm not mistaken check what the all-time high is the stock trading here kind of on its own steam at some point in history, and so you have to at least build into your probability set he gets a deal done, gets some investors done and all the rest gets thrown in the myx. >> i want to go back to the most recent tweet we had from elon musk he said investor support is confirmed. only reason this is not certain is its contingent on a shareholder vote so clearly shareholders could still block this but if the money is there to deliver a 420 price target, then perhaps he does have all the things in line you were talking about were necessary >> i don't know exactly what he means by investor support is confirmed. but it certainly is suggesting that he has the financing and participation lined up and like i said that better be true you can't just make claims like that if y

mike santolli still with us. >> obviously there's not going to be any decisive news here that says les moonves' fate is determined it's more about what to expect from this investigation. he's going want to characterize the business, talk about the business he's not that interested in this potential merger, and there's a court case coming up all those things are probably going to be thrown into the soup >> there's no interesting stuff yesterday in the conference call and hearing from elon musk whether he would go after them or apologize to them now there are even more. >> it's hard to invest in a company like this. there's too much unknown at this point. the fundamentals are there. the stock valuation makes a lot of sense and estimates are probably going to go higher after this report. that's the irony of it all at the same time you have this huge overhang. and i think if it's not addressed on the call the stock is going to tank big time. because it adds to more uncertainties going forward. >> so the call is starting we want to our viewers and everyone to listen in. >> good afternoon, e

was a heavy amount and he did cite nervousness and uncertainty into some of these headline, but mike santolli brought up a point that the market likes, taxes and deregulation has been put in place so the question remains what does it mean for the markets and the economy when you have uncertainty around the presidency. >> thank you, guys thank you, david thank you, sara. >> let's go to sue herera. she has the latest on the paul manafort trial. >> indeed, thank you very much here's the lodown on what has happened this afternoon. michael cohen, president trump's former lawyer pleading guilty to eight criminal counts in manhattan federal court today including twovilleatio violatiof campaign finance law mr. cohen says at the direct for, quote, candidate for federal office, that would be the now president trump, he arranged to make payments, quote, for the principal purpose of influencing the election. basically, sentencing is going to be december 12th for mr. cohen. bail was set at $500,000 for mr. manafort, there were 18 count against mr. paul manafort, alleging a variety of misdeeds including fi

mike santolli, this is when i say what is the key to the market >> i haven't been up since -- readingll transcript that came out last night. i think the scene is set for the end of the week. we kind of worked our way in this grinding fashion. the s&p could reach a new all time high for a few seconds by half a point on tuesday. we have fallen back. not a pull back. i think the market feels tired it's late summer but it refused to pull back in a hard way that's where we're at. i think earnings are supportive but now we have the now what moment at least through the fed news today. and then we'll see where yields go [ applause ] it's been a good week for consumer and energy and technology. >> netflix is having a good quarter. >> netflix got an upgrade today, as well. [ opening bell over at the nasdaq it's xeris. i was mentioning netflix here at the open another 1.8% gain, mike, it's been a good week for a company, when i looked on monday, the market cap was around $137 billion. now we're talking $150 billion nowhere near above disney which it was sometime long ago. >> netflix down 15% fro

joining us today our cnbc markets commentator mike s santolli leading the dow today was disney whileas the biggest decliner on the s&p, newell brands was the laggard. what the message in the markets today? >> the message was in the absence of any real headlines you're well supported by earnings and it looks like the upward drift the path of least resistance it's almost as if the absence of a negative headline getting in the way means the markets can notch these gains on a day-to-day basis volatility really waning >> and that this comes despite a negative day in asia and flat day in europe. >> we didn't really pick up any of that kind of sell the -- selling snngt overnight. i think friday's job report, the earnings given the reason the credit markets are holding together pretty well to say, fine, the market refused to go down when it was hovering at this 2,800 level at the s&p. very weak momentum i would say >> we didn't have the were ezabout rising interest rates today either maybe that's one reason why we didn't see the raise in equities >> the ten year treasury is not wanting to mo

that are frank lly unwarranted it's not the longest bull market we reset twice >> that was santolli's point >> mike knows what i'm going to say. >> 94, 95. 90s reset in '98. >> i'll pick apart the last one. >> that wasn't the longest one either >> when do we date the start of the aye 90s bull market from '82? or 1974 because that was the prior low. we don't use 2009. we only use it because that was the low and it is generation aloa ala al low it's a five-year bull market big deal we had a reset in 2011. down on the s&p 500. we had another reset in '14, '15. >> josh. >> 25% losses for the median stock. >> first quarter of 2000 you would have said, we reset. five year bull market. big deal just saying you can always kind of have tease, you can kind of rationalize away anything. not saying we have to be beholden to this idea of believe it means much of anything, but it's not cheap the market didn't get cheap and didn't go back far in time either one of these resets you talk about we didn't wipe out five years worth of gains one year then went sideways >> mike, it's joe. technology is approaching 26% i