i fear that's where nordstrom is now. the more it spends in part to keep up with amazon, the better they make their website and the less we need to go to the fabulous stores that cost so much to maintain. it's smart caring sales people, they're becoming increasedly irrelevant. the benefit is the trion, but it's not the big edge it used today be. we all learned how to send back internet merchandise now. when i hear about another retailer refreshing their omni channel i no longer applaud. it means lower gross margins and sinking stock prices and that's what happened with this great american retailer stock price last week. so bottom line is this. as far as i can tell it's only going to get tougher and more competitive for nordstrom over time. can go to doug in missouri, please? >> caller: i would like your opinion on tiffany. will the high end clientele give it immunity? >> i'm concerned about tiffany, it had a fabulous run. but i can't tell you to buy at this level, it had too much of a run. >>> monster beverage lost some o

penney and nordstrom both report. j.c. penney's continue toss bite out from the very deep hole it dug for itself. >>> with an hour to go in markets, the dow jones industrial average up about 49 points this hour, the s&p adding about seven, the knead dab is up 14. we're keeping a close eye on the rate space. watching oil, scott, looking for what's driving, what is the catalyst in this market. >> joins us now, steve crawl, cnbc contributors heather hughes and great, and todd saldoni, and yes, of course our own rick santelli. >> whether it's iraq. >> well, the good news about that is it's going to force interest rates to -- the fed can only do one and do at the most, and so you're going to force investors to put money into stocks, bonds and junk bonds. in light of what's happened, especially? germany, flirting with a 1% mark, you think that ten-year rate could go? >> and probably the key is it will probably stay below 250. you see retail sales, you see china, japan, as scott mentioned, all the other bad spots, so there's real

jays and jpmorgan jace and nordstrom is underperforming. [closing bell ringing] david: we had awful news from overseas again. they would react to the bad news overseas with bad news in the markets today. again, shows the optimism. bullishness of all the traders in this market, even on bad news abroad, they boast good gains today. not spectacular gains but healthy gains on the dow, nasdaq, s&p. only the russell 2000 had relatively small earnings. even green arrows there. a lot of earnings. "after the bell" starts right now. liz: breaking news. s&p and nasdaq end at session highs. there is decent market action. great to have larry shover in the house. he says second quarter strong gdp growth is headwind for the equity market. how does that work. >> we have the investment council president. he will tell us when and why he is predicting pullback of equities. we'll ask how big of a pullback. dan stesich from the cme. dan, a nice day for the dow, nasdaq, s&p. transports look good. we had oil coming down so those names got hurt. most s&p sectors c

walmart, jcpenney, and nordstrom all report earnings tomorrow.or more on their fortune, what stern to greg johnson -- let's turn to greg johnson. always a pleasure to see you. what is going on with macy's? as well as aating canon and very difficult, choppy waters. -- as well as it can in very difficult, choppy waters. the consumerid, remains weak kneed him looking forward. they will have a good holiday. >> let me get your thoughts on each one. walmart? >> wal-mart is most reflective of the overall economy. five years ago, at the peak of the recession, walmart had 12% market share of the retail market. years, it is now down 100 basis points. >> who is taking market share? that has gained about 50 basis points with cosco. company.s they collectively gained about 25 basis points. the rest is spread out. that is why it is so important -- they have a new seo just a new ceo just starting, very important he turns the mothership around. >> tell me about nordstrom. >> you have to parse the business. the retail stores, their soft. they are doing ok, they h

tell me what nordstrom is executing well on. >> i think what's so great about nordstrom is they are where the consumer is, and you're right, the consumers on their mobile phones are more apt to get on it before they get in a car. nordstrom has been a van guard as far as making tech savvy investments as a retailer. they have done a long as to their mobile engagement. they have a fantastic mobile app.. they were exactly where their customer is -- online. >> thank you. we'll leave it there. very interesting report. >>> a big mystery involving one of the world's top luxury hotel brands. this is a story you don't want to miss. it will shock you. >>> and the truth behind america's broken tax system. how much do corporations really pay? dom chu knows. >> in fiscal 2012, the government corrected about 2.2 trillion in cabses, how much do you think is corporate taxes? the answer may surprise you. >> we'll tell them when we come right back. there are no branche? 24/7 it's just i'm a little reluctant to try new things. what's wrong with trying new things? feel that in your muscles? yeah... i do... tr

coles, walmart, jcpenney and nordstrom all report earnings tomorrow.r more on their fortunes president of customer growth partners, a consulting firm that focuses exclusively on retail companies. always a pleasure to see you. want to start with macy's, what is going on there? >> macy's operating about as well as a company can in very difficult, choppy waters. very weak now and reluctant to make big turk -- ticket purchases. consumerg said, the remains weak looking forward. so they will have a good holiday. macy's almost always has a good holiday am a but these are tough times, and it is almost across-the-board. >> let me get your thoughts on each one of these. walmart, start there. >> wal-mart is the most important because it is the overall reflective of the economy. five years ago at the peak of had 12%ssion, walmart market share of the retail market. over the past five years it has down 100 20, 30, now basis points. they have been attributing market share. >> interestingly enough, half of it, it has gained 50 basis points out of the hundred that macy

there with nordstrom taking in 95 credibilients a sh. revenue was in line with the forecast, same store sales up 3.3%. shares higher in late trading after the bell but then the stock reversed course as you see on that graphic. >> some disappointing earnings news from the biggest retailer of them all, walmart. it said u.s. sales were flat and it cut the earnings guidance for the year blaming weak consumer spending and higher cost. but as courtney regan tells us, the company is focussing on initiatives to jump start sluggish sales and profits. >> it could have been worse, walmart post another quarter of sluggish u.s. sales but better than anticipated. they are struggling to get shoppers into stores posting the seventh straight quarter of falling u.s. traffic. profit was in line with expectations for the quarter, for the world's largest retailer lowered the full-year guidance saying higher than expected health care costs for employees and increased commerce investment will weigh on results. >> the sales number is better than i think people

. >> reporter: another higher-end fashion retailer nordstrom is due to report sunday. the first quarter growth was an upside surprise, though management has been careful with its full year guidance. caution is the common theme for lower end retailers like kohl's, j.c. penney and walmart, all reporting on thursday. walmart's u.s. same store sales dropped last quarter for the first time in almost three years. this time around, analysts aren't looking for much in the way of growth, less than 1% for u.s. storms and just above 1% overall. earlier this year, kohl's looked to get a bump from the struggles at j.c. penney but showed in such gain in the first quarter. stock watchers will be looking for any hints on how back to school season is going for retailers. tom who keeps an eye on consumers says mall traffic has been up and shopping baskets a little bit fuller than they have been in the recent past. >> the consumers are hardened as to whatselect, what they buy, how they buy and the trade offs are significant than five, six, eight years ago. >> reporter: he says the rest o

nordstrom's acquisition of haut look is driving traffic to its stores.hoppers are returning online purchase haut look items to nordstrom rack stores, noting its a traffic driver for rack stores. jcpenney says its sales comes from originating in the stores. with 30% of penny's online business, pickup in store, the possibility of shoppers grabbing a couple more items while there increases. while e-commerce browsing is driving consumers to stores, promotions remain tops when it comes to driving traffic. macy's cfo karen hogay recently acknowledged the department store sees less traffic when offering fewer promotions. and it's a retailer analysts mark is best in class when it comes to its website and in-store offerings. for "nightly business report" i'm courtney reagan. >> when it comes to shoes, foot traffic has a whole different meaning and dsw seems to understand it. second quarter profit rose a better than expected 1.8%, as net sales and same store sales increased. dsw also raised both ends of its full-year earnings guidance by 5 cents a share, although

i think nordstroms has a problem tomorrow. if they miss at all, it's going to be a disaster. >> it sound like you are not taking the drop, macy's is a buying opportunity. anyone else taking this buying opportunity? >> there is nothing to boys, it typically trades about 13. it had trouble at the $61 level for the last couple of months, bounced up against it, it couldn't break through, finally it traded to levels we bounced from in may. with the volume we've seen, the reasonable valuation, some of the points that pete makes, i understand what bk is saying. you know what, we break 54, i get worried, given these levels, i think you buy for a trade. >> politicsed up is deere reporting third quarter earnings that came in above estimates. deere saying global equipment fell 6%. deere seeing bow low 2013 levels. >> look at the deere chart. we know you look are the thing a cultures, besides coffee, those sauce. you see there is just an abundance of grain and corn and wheat out there. however, what we're talking about geopolitics, one of

jcpenney and nordstrom, they're going to report after the bell. bob pisani joins me at post 9 on the floor of the nyse to handicap it. it's disappointing for a lot of these companies. >> walmart reducing the guidance isn't good. but put up walmart and it's having a tough time of it recently. the one thing i want to point out is they're spending more money on e-commerce. walmart.com numbers are up. 24% increase in e-commerce traffic to walmart in the second quarter. that's on top of 27%. the website is a lot easier to navigate than it used to be. they have in-store pick-up as well. it's a much greater selection. it's not amazon. but it's definitely getting better and they're starting to see real results on that. on kohl's, the big take away is the sales are pretty good. they improved as the quarter went on. july positive same-store sale number. it's been ugly for the department stores. you see the big names on the week. we get jcpenney tonight. what you want from jcpenney is just a little stability at this point. yes, we're going to be down, it wil

anyone with a piece of nordstrom. shares diving today despite decent earnings.sted another quarter better than expected results. same-store sales, missed wall street expectations. that was tough for bruce nordstrom. they lost a million dollars. that is systemic. spending money to make money, carl icahn, the activist investor has acquired a 6% stake saying he sees an interesting future in the company after announced plans to put tv, at divisions like brands like usa today and career builder. adding more fuel to the cupcake bubble. this $900 for each, toronto bakery, was asked to make something extravagant it -- extravagant. these include champagne, fancy butter, vanilla bean, and and dazzling dusting of diamonds obviously. look at that thing. who can meet it? time for a little fun with spare change. for get smart watch. motorcycle helmets are getting revved up and investors are going full speed ahead. we are joined by dr. marcus weller, founder and ceo, this is the closest i have ever seen. can you tell me when i put on the helmet what does it do for me? >> these

it was a bankruptcy on some levels. >> can we talk about nordstroms for a second? they revealed the price of trunk club $350 million. it will be diluted for several years. it sounds like a small transaction, yet a big impact. is that crazy? >> you might be crazy which might have nothing to do with it. it seemed very expensive. the multiple of sales was high. it is that odd to be that diluted. four-and-a-half times sales i think they said. it's an interesting concept. i go es the street didn't like that. also i think because of the share buyback, them raising the guidance on the eps looked a little better just because lower share count. so maybe the actual earnings dollar amount wasn't higher. >> did you buy clothes in the mail? >> i never did in my life. >> i think north stroms had such a huge run. they had to say everything exactly right this quarter. this opportunity to buy, it's probably going to take place 63-and-a-half, 64. macy's, we said yesterday, it turned out to be correct in the short term had a nice bounce today. the levels it traded down to yesterday w

walmart, macy's, nordstrom, they're not the same thing.e did have the minor uptick in the unemployment sector, and mcdonald's, not so good. but the american consumer seems pretty tapped out right now. unless something comes along to put cash in their pockets, i don't see how they can fuel a rally. >> when you say tapped out, do you mean across the board? >> i'm saying the working middle class, the people shopping at target and kohl's. >> well, the ten-year interest trade, below 2.5%. that's money in their pocket. grain, oil, gas prices, that's cheaper for the consumer. so, some positive effects that could charge the economy. >> well, low rates don't help people charging their purchases. >> assuming there's no bigger geopolitical issue here, that's the bigger fact here. consumer data matters. the report of target, that gives you insight into the consumers. the better the economy is doing, but not too great, the better it is for the market. >> well, do you they they really care, the average american consumer, about geopoliticly? >> well, wha

the retailers following closely including nordstrom, as a modern and dillards, nordstrom down 4%.ump to the downside. and dillard second quarter earnings fell and stock is down 6%. more "varney and company" coming up. stuart: the real halftime report. nicole petallides at the exchange. david weiss in providence, rhode island, brian kelly always here. the economy, back in the news again. interest rates at historic lows. the biggest economies in the world, some of them contracting. you are a professional economist. what do you make of this? >> europe has a big mess going on, we see second quarter decline and everyone else between problems in the middle east and in the ukraine, people are scared to do anything. stuart: are we in america going to suffer because of what is happening in germany and japan and all of europe? >> it hurts us because if they are not buying stuff they are not buying our stuff. particularly capital goods into europe and some in japan, the economy is going to translate weakness in those sectors in the u.s.. stuart: are we going to expand at a mere 2%. can we br

jays and jpmorgan jace and nordstrom is underperforming.osing bell ringing] david: we had awful news from overseas again. they would react to the bad news overseas with bad news in the markets today. again, shows the optimism. bullishness of all the traders in this market, even on bad news abroad, they boast good gains today. not spectacular gains but healthy gains on the dow, nasdaq, s&p. only the russell 2000 had relatively small earnings. even green arrows there. a lot of earnings. "after the bell" starts right now. liz: breaking news. s&p and nasdaq end at session highs. there is decent market

kohl's and nordstrom came in ahead. in spite of the soft economic news, a dow turned positive with gains on wednesday and thursday. stocks were mixed on friday and if you were smart enough or just lucky enough to buy a class a share of berkshire hathaway way, now now have $200,000 to your name. it is by far the most expensive of any stock trading in the united states. grk e is confirminging there have been talks to sell its business ge wants to focus efforts on his more profitable industrial equipment business. stocks seem to have gotten past a rocky patch, but that doesn't mean it's a smooth ride for the rest of the year. there are new worries out there, so, what does it mean for your money? joining us now, ellen zentner and christina hooper, head of investments. welcome. either of you feel like we dodg a bullet here? it looked like we were going to see a pullback, then things look like they're coming along. >> i think this is just some of the normal volatility we see when we have geo political ooempbts occurring in tb

cole's, nordstrom, and walmart report tomorrow. estimates?> the bifurcation. >> adam johnson is quite the artist. ♪ >> that wraps it up for "market makers," erik, you don't play candy crush. >> and i do not carry cash. trying to get cisco going again. sales are currently projected to shrink 3% this year. earnings out earlier today. the ceo of cisco will be with us on "market makers." >> 56 pass the art, bloomberg is "on the markets." olivia has more. >> stocks trading higher today. rebounding after yesterday's decline. investors shrugging off the slowdown in retail sales we saw earlier this morning. thinking the fed will not be in a hurry to raise rates if the consumer environment is slowing down. joining me is strategist at baycrest partners. thank you for joining us. what are we seeing in the options market? how is the vix at 14? >> it will stay below 14. if you understand earnings this being the expiration week for artists, maybe there is a little bit of volatility market for friday. next week, volatility comes in even more. we are seeing

nordstrom, while they had an earnings lack of aappreciation with the trunk club acquisition, nordstrom were still up 6.2% last night. so luxury continues to be the place to be along with chain drug is also doing well. some of the food retailers like kroger and costco doing well in category dominant, it's home depot because of the great leadership of frank blake. >> we were talking a lot about the white labeled brands here in the uk a while back and how they were doing very, very well especially off the back of the financial crisis. do you see that stateside, too, that either you're in luxury or you're in the lower end and that's where the market is opposed to the markets? louisa, you're completely correct. the middle market is really no -- man's point. the nordstrom rack stores up 18%. 4% on a like to like basis. and with white label or black and white or generic or private brand in this stateside doing very well and as you see, the uk price and control labels are really the best brands or luxury on the high end with the better profit margins. >> thank you very much for getting up earl

. >> far cry from nordstrom's jewelry. >> right! ha! yes. this its no nordstrom's or macy's. for now i have to settle for this. ♪ >> individuality is also alive and well in the men's protective custody unit. where laila arguetta is serving out his time. >> i live my life as a female. still thinking about the sex change. it requires a lot of counseling, therapy, money. budgeting is not the best thing i can do. >> but arguetta's means of obtaining money is what brought him to jail. three years earlier convicted of robbery. after serving nearly a year in jail he was released on parole. arguetta recently violated by being out past his court ordered curfew. >> by violating my curfew, i am committing a crime. prostitution. i get in the car with undercover, think it's a john, and, hey, it's a cop. i get arrested. i'm thinking i am going home 30 days later. no they gave me six months. >> starting at age 18, arguetta has had numerous days at santa rita, robbery, prostitution, drug possession and parole violations. >> i sell my beauty. i sell my beauty. >> another word for prostitution

successful from clokt and mums the words an sacramento street to the full chance of target and amazon and nordstrom that makes recruiting employees easy the access is everything i think i would struggle to make my business works it is as far to the lafayette so mill valley and everywhere in between we're a 4 day workweek so in addition to offering a shorter workweek sewe ask the employees to pop down to get a hair cut or a dentist appointment or an after workout ever coffee or a smooth i didn't on the plant on stein when is my perfect it makes business errands great whether getting toilet paper or getting shipments or calling the plumbers on union if there's a issue. we think of ourselves as a san francisco business i want to keep my business on union and in this flat for so long as i can i applied for a temporary extension it's the best location for me my employees and the community. i fear that moving and i have look at into that will be far more costing not to mention the cost of moving he invested one hundred hundreds thousand dollars i realize this was any choosing choice under a conditional u

i don't know that we can say that walmart and macy's and nordstrom equate to the same thing, but take a look at wages. these have not ticked up very much. that's not positive for the consumer. we had the minor uptick in the unemployment number a little while back. take a look at the results from mcdonalds. they weren't so great. i don't see the american consumer seems pretty tapped out. unless something comes along to put cash in their pocket, i don't see how they fuel a rally. >> doesn't it depend on the consumer? there's a top, middle, and bottom end? >> i'm talking about the middle class and the working middle class. the guys shopping at target and probably more so kohls at. >> interest rates have fallen. money is flowing from europe into the united states right now. i think as you see the ten-year interest rate that's more money in the consumers' pocket. gas is dhaerp for the consumer. i think there's positive effects here. where we could see the consumer back into play and charge the economy further. >> people are using reinvolving credit to make purchases. if you're buying a new

. >> nordstrom and macys and places like that who have had strong online capabilities, that's where the retail leadership has been, and probably will continue if there is any leadership out at retail. >> retail stocks will be important this week as companies like macys and walmart help to wind down large cap earnings seasons. those reports may shed more light on the health of the come assumer and whether or not stocks can balance back. for nightly business report, dominick chiao. >>> remarks widely interpreted at fed policies aimed at supporting economic growth. stanley fisher called the performance disappointing. he questioned whether the growth was cyclical or structural. whichever it turns out to be, the result has been a general down shift in forecasts for long term u.s. growth. >>> over in the oil patch today, a big corporate restructuring announced by the nation's biggest energy pipeline company. kinder morgan is consolidating its huge pipeline business into a single company. a $44 billion transaction, and investors like what they heard. shares gushed higher by 9%. morgan brennan

nordstrom is using it. representative said the hope it will help fan spirits hoping to draw back young customers prove >> yesterday of the company reported its 10th straight decline in quarterly sales. >> smart drivers could be hitting the road this labor day weekend. >> analysts say with the same gas prices this low since 2010. the average price in illinois history 50 per gallon. national averages $3.41. >> good condition is present could be conducting safety checkpoints. will be checking license and registration as well as trying to determine whether anyone is driving impaired. >> and is to increase safety and seat belt usage. >> several bears make a final push frofor a roster spot. we had to breabreak with music from we had to breabreak with music from casey. .rist ugh. heartburn. did someone say burn? try alka seltzer reliefchews. they work just as fast and are proven to taste better than tums smoothies assorted fruit. mmm. amazing. yeah, i get that a lot. alka seltzer heartburn reliefchews. enjoy the r

macy's missed expectations, walmart matched, and kohl's and nordstrom lost and jcpenney came in ahead of expected. the sdou tudow turned positive gains on tuesday and thursday. stocks were mixed on friday. if you were smart enough or lucky enough to buy a class a share of berkshire hathaway, you now have $200,000 to your name. the stock crossing the barrier. by far, the most expensive of any stock trading in the united states. ge confirms its in talks to sell it's appliance business. in the talks, electrolux. >>> stocks seem to have gotten past a rocky past over the past few weeks but that doesn't mean it's not a smooth ride for the rest of the year. there are new worries out there. what does it mean for your money? joining us, ellen zintner, and christine hooper, welcome to both of you. >> thank you. >> do either of you feel like we dodged a bullet here? looked like a pullback and things were humming along again. what do you think happened? >> i think this is the normal volatility we see when we have geopolitical events occurring in the back ground and then you get a day of bad data

successful from clokt and mums the words an sacramento street to the full chance of target and amazon and nordstrom that makes recruiting employees easy the access is everything i think i would struggle to make my business works it is as far to the lafayette so mill valley and everywhere in between we're a 4 day workweek so in addition to offering a shorter workweek sewe ask the employees to pop down to get a hair cut or a dentist appointment or an after workout ever coffee or a smooth i didn't on the plant on stein when is my perfect it makes business errands great whether get

successful from clokt and mums the words an sacramento street to the full chance of target and amazon and nordstrom that makes recruiting employees easy the access is everything i think i would struggle to make my business works it is as far to the lafayette so mill valley and everywhere in between we're a 4 day workweek so in addition to offering a

i don't know that we can say that walmart and macy's and nordstrom equates to the same thing. look at wages. they have not ticked up much. that's not positive for the consumer. there's a minor uptick in the unemployment number. look at results from mcdonald's, not great either. you know, i don't see the -- the american consumer is tapped out to me right now. unless something puts cash in the pockets, i don't see how they fuel a rally. >> doesn't it depend on what consumer you're talking about, the top end, middle end, bottom end, are you talking across the board? >> the working middle class, the americans, the guys shopping at target, probably more so kohl's and walmarts of the world. >> you have to consider interest rates have fallen. money flowing from europe into the united states now, and as the interest rates trade below 2.5%, that's money in the pocket. commodities, grain and oil prices and gas, that is cheaper for the consumer. i think there are some positive effects here where we could see consumer come back in play and charge the economy further. >> that does not help

no, nordstrom does, i get a jw shirt. no, amazon.ean, you have to spend to keep up with amson. by the way, amazon is a good spender on tech. other companies buy tech, but not necessarily the right tech. >> google is an important part of this, especially when you get a lot of software engineers as amazon does. nordstrom is not hiring tech engineers. >> you can't amazon plants. spring is not an amazon season. you cannot amazon starbucks. look out, trucks going to college campuses selling starbucks, another venue, they continue to amaze. a buy. home depot, still, a buy. >> let's get to mary thompson on the floor with more on what's pro moving this morning. good morning. >> modest gains for the markets, dow, s&p, and nasdaq over the best levels of the day, and nevertheless, the gains in asia and europe in early trade, it is data here in the u.s. as well as good earnings driving the markets higher today. the dow up 38. s&p punching through that 1973 level, an area of resistance yesterday, now up 3 points. keep in mind, less than 1% away o

the fact both nordstrom on the online sales and amazon, which is all online sales, posted some issueslems, shrinkage. should we be concerned? >> i think we're in a very moderate growth pace for broader consumption expenditures. it could approach 3. i have a hard time the second order earnings which are 11%, but i don't think that is a real underlying surprise to investors who have less optimistic expectations that is really strong hockey stick estimates. >> coming up, steven wieting, you mention housing. personal best chart shows challenges first time homebuyers face. we will discuss coming up on "bloomberg surveillance." ♪ >> good morning. our twitter question of the day -- that is a serious question here on a friday and is most interesting geopolitical summer. gideon rose will join us in the next hour. let's get to adam johnson here on "bloomberg surveillance." dispute risingw over refugees and that a wrecking mountaintop. thisgreen berets say miniature in crisis is over but some kurdish officials warned that help is still needed. the islamic militants have swept across the region.

we heard from macy's, that was disappointing, and tomorrow we will hear from nordstrom, jcpenney, kohl'sat will give us more granularity when it comes to how the consumer is spending at those department stores. >> thank you, julie hyman. coming up, it is a television network for a certain type of sports fan -- this channel has everything you ever needed to know about the southeastern conference. guys it has tim tebow, here it is that good or bad? we will also hear from usa goalie tim howard. he will tell us about his future. stay "in the loop." ♪ >> team usa goalkeeper tim howard -- remember him -- he had an incredible performance against belgium in the knockout stage of the world cup. bloomberg news caught up with tim howard and asked him what he plans to do once his celebrity status settled on. that settles down. >> -- settles down. >> once i leave the spotlight, i will see what is next. >> what is next for tim howard? we know what is next for espn, with a new network debuting debuted -- dedicated solely to the southeastern conference. top-tier talent has been lined up including a mass