nordstrom's. >> the payroll tax going in and checks going out to social security -- >> d.c.'s not going to take on social security. that's not going to happen. >> jon? >> what steve said is exactly right. the taxes in a healthy economy are not going to affect this but we had a housing boom that did help with this. this is not a healthy economy. we have 47 million americans in poverty and growing, record numbers right now. when you have an economy that is not healthy, the thing to do, and history has proved this, not to raise taxes. we cannot expect the government to be more efficient. we would be better off if they never came back from vacation but they should not raise taxes. >> consumer sentiment was at a six-year high in july. what does that tell you? >> it tells me a couple things. number one, it's highly volatile. the consumers don't have -- number two, the consumers don't have enough money to sustain that sort of viewpoint. they simply -- excuse me, with income levels flat over essentially two generations now, only women going in the workforce has allowed the middle clas

s&p 500. technology stocks have been moving and western digital and in the retail space macie's and nordstrom's have been trading as below the benchmark. how long will this bargain opportunity last? thank you very much. in the meantime the revolution may be underway. directv's biggest draw could be in jeopardy and going online. >> well simon yesterday, among the things gadell discussed were the nfl sunday ticket package. the directtv deal expires at the end of the season. >> nfl is looking to boost that price. nfl has negotations with directtv. it should walk away with $1.5 billion. the question is how the nfl will value a billion users worldwide. certainly an interesting negotiation to watch and we'll see how it all pans out. >> sorry, tyler. disney down 1% the group is looking to eliminate 175 positions. the majority of lay offs will come in cities like noew york, a and chicago. >> dom? >> thank you. we are looking at zoo of the big movers of the session so far. let's kick it off with lows as the housing market encouraged americans to spend more on their homes. it is a different story for tar

nordstrom became the biggest retailer to cut its profit outlook for the year. walmart and macy's gave bleak outlooks. housing picked up. the dow is up 13. the nasdaq is up 11. ss flat. >>> a big surprise and disappointment as thousands of people turned on their radio this morning. ktvu's pam cook is in the studio with what happened to a popular local radio host. pam? >> yeah. chewy gomez has left the building. from what we're hearing, he did not want to leave the job he's had for the past 20 years. he has been entertaining people on their way to work as kmel's morning drive time deejay. the station has only said that gomez no longer works for the company and that his replacement has already been found. now, twitter is filled with comments about the move and the tweeters are not happy about the radio station's decision. he has more than 16,000 twitter followers. chewy gomez tweets his run at kmel ended after 20 years and there will be more to come. he also tweeted out that he's been humbled by all of the love and respect listeners are showing him. back to you. >> thank you. >>> happening today, the sentencing hearing for bradley manning continues. he could get

, look at some of the stocks that are leading the s&p on the downside today and a lot of the consumer names, sears, jcpenny's, dillards, pulte, nordstrom 10-year and trying to figure yuure out why sit do and see if it is what edwards say in the conference this afternoon. >> well, we are in a summer lull, and the volumes yesterday were the lowest since the 12th of november last year. >> that is misleading, and that is part of the discussion that we are having which is more, and more important which is that it does not capture all of the etf market. >> well, it is in the middle of the summer and these are not conviction moves as it is in other times of the year, and i know it is counter to the cable training. >> well, it is contrary to the cable trading. >> yes, on all fronts. >> exactly. >> and he has been called the godfather of the hashtag and we will talk to the inventor of the famous social networking tool coming up. [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade wit