the fact that the pro-shares etf would be tied to bitcoin futures contract and they said that the nysehad not demonstrated that the bitcoin markets were significantly large enough so while they get to approve a crypto-based etf other applications are still on the table including an etf that would attract ape basket of crypto currencies that was followed in july by bit wide and the bitcoin trust which the sec announced it was holding off on ruling on until september 30th so we'll hear then about that one. critics of the sec's decision have told me that they're frustrated because they say the sec has set a very, very high standard, maybe impossibly high, it's not clear what they would have to do to demonstrate that they are adequately preventing fraud and manipulation back to you, melissa >> bob, thanks bob pisani at the nyse if not now, when are the bitcoin etfs coming? our bitcoin ballers are at the plasma steve? >> we had this rejection the other day and most people, the sentiment was that we weren't going to get any etf to me, february 2019 is probably the likeliest and the earliest

bob pisani is breaking it down at the nyse.. >> hi, melissa amazon is the first s&p 500 stock to pass the $2,000 mark. it's in rare company and there are only three companies in the s&p 500 whose shares are trading over 1,000 and amazon and booking holdings and alphabet. the old priceline was the first s&p stock to get $1,000 and followed soon there after by google and these would have been unthinkable a decade ago and that's because companies would split their shares to make it more affordable to investors the dotcom era drove up the price of tech stocks dramatically and the financial crisis and it's never really recovered and you know they were just over 100 stock puts of 1997 and that was five splits for all of last year and why don't they split the stock as much as they used to? a lot has to do with institutional investors like vanguard those institutional guys have 72% of google and nearly 80% of netflix and institutional investors don't really care if a stock is high priced or not. they may be perfectly happy to have high

. >> bob pisani at the nyse. tim seymour has the perfect recipe on how to choose the right pot stock for your portfolio and he'll go over to break it down into a segment that we like to call the more you know >> the more you know has never been more important as we talked about this sector which has been exploding and i reminded you that this is the asset class and reminds me of investing where you see the market cap that's not that great so what do i think you should do when assessing the market now? >> what's the company's focus? what part of the cannabis industry are they? are they in production in in medical and do they have a flashy storefront in dal cal and new york are they a u.s. company, are they in california are they in new york are they in other legal states you have to think about the legislative environment and which strategy and which company focuses the most profitable and you have to assess that and next, you to look at the management team and i really mean corporate governance and i'm not talkin

let's go straight to nicole petallides on floor of the nyse.icole. >> contagion that is worrying wall street, as you noted we're near the session lows. a couple of points away. the dow is down 256 points. when you talk about the contagion, not only seeing turkish lira plunging to record lows but as you said europe sold off across the board between one and 2%. the ecb is worried about european bank exposure. i will get to our banks here at home. meantime the euro also has fallen. these are all things all moving. one after the other and tariff that president trump announced also weighing on turkey. our markets here at home which are supposed to be the sleepy days of summer here. we had great earnings. everybody thinking summer friday, it is busy. look at dow laggards. industrial names are among the laggards. just about every sector to the downside with a few exceptions. energy and utility names with up arrows of the mostly selling across the board. you see the financials, there are worries about our banks here at home, what kind of exposure they

nyse and nicole. weekly winners and losers, lay them out for us. >> easy to find winners. dow jones industrial average. some of the names over on the dow were hitting new highs. united health, visa, american express new highs. american express one of the best performers for the week up almost 3% and home depot and nike up 3 1/2%. despite tough news from hibbett and to the looker. -- foot locker. we have seen some to the downside. also some consumer names, walmart, coca-cola and mcdonald's. i have two real winners up 20% this week, advanced micro devices, we talked about this one yesterday, and williams-sonoma. 20% winners. both at highs today. liz: have a good weekend, nicole. >>> the record breaking bull run has been very good for investors long the market but where should they be looking as the bull market approaches the second decade? josh jalinsky, host of financial quarterback on financial radio. half a billion under management. start with the that we. >> we like tencent because they have the biggest video game on earth right now, "fortnite" is not approved in china.

he's ringing the opening bell here here at the nyse.e'll talk about the nfl and those rights >>> another look at futures, 15 minutes to go before we get started with trading a lot more "squawk on the street" live from post nine. ♪ ♪ build and run apps anywhere you like, while keeping your competitors at bay. the ibm cloud. the cloud for smarter business. need a change of scenery? the kayak price forecast tool tells you whether to wait or book your flight now. so you can be confident you're getting the best price. giddyup! kayak. search one and done. pah! thano, no, no, nah.k. a bulb of light?!? aha ha ha! a flying machine? impossible! a personal' computer?! ha! smart neighborhoods running on a microgrid. a stadium powered with solar. a hospital that doesn't lose power. amazing. i like it. never gonna happen. this wi-fi is fast. i know! i know! i know! i know! when did brian move back in? brian's back? he doesn't get my room. he's only going to be here for like a week. like a month, tops. oh boy. wi-fi fast enough for the whole family is

revenue grew 20% year-over-year, with strong box office sales there, we get to nicole on the floor of nyseith latest. reporter: following numbers to disney we saw disney selling off, it missed on estimates, it did well enough in movie studio, they have higher programming cost, and trend from espn continues losing subscribers. watch disney tomorrow in trade, meanwhile, dow, nasdaq and s&p up higher. it is world noting as -- worth noting as for note inhighs disney hit a multiyear high as did pfizer and merck, and apple hit all-time high today, it pulled back but they are breaking out. back to you. liz: all right. thank you nicole, we'll stay on the story about musk, confirms his intention to go private via tweet. is this a brave new world for all investors that ceos tweet out information that rocks the markets. >> and also, a video now going viral ivy league millennials trying to explain what their understanding of the first amendment is. >> freedom yo under first amendment. >> freedom of -- um. >> and um? >> what are professors teach their kids, also tonight, a new report democrat using the

and china trade talks are resuming, get to nicole on the floor of the nyse with the latest. reporter: what a day on wall street, dow jones up 400, they are focusing on u.s. and china resuming talks, and focusing on great earnings, particular from walmart, that helped dow jones gain today, and have biggest close in percentage terms since april. we suwyners -- saw plenty of winner, then tesla that was down today, more than 40 bucks since elon musk's tweet, they are prepping director for details on the tweet. and our own charlie gasparino has been saying that legal team is bracing for dollars in liability tie and lawsuit, and wondering whether he tweeted what he tweeted about going private to hurt short sellers. >> and trump asking attorney general sessions to sue some pharmaceutical companies that sell opioids. liz: we brought you this story, hackers did steal 14 million dollars from atm machines across 28 countries, in places like canada, hong kong, and india. tonight, a shocking new development that could under cut marijuana. over 70 people overdosing on synthetic marijuana

are getting interested in this market have not seen a lot of people pulling the trigger yet, but the nyseouncement that they have an exchange coming in november has institutional investors interests piqued >> who is the seller then? >> the retail investor who bought is in november and december and said this thing stores value they put it on a shelf, watched it store value and it didn't do a good job >> they finally gave up. they said i can't deal with it >> exactly that's exactly what happened just like any other market, as you said, you're seeing that capitulation at this point i don't know if we hit new highs. i've been in this business for 30 years, i know when you see capitulation, i don't want to be the seller, i want to be the buyer. >> we'll see you soon on "fast money. you have a long day ahead. >> so do you, sully. >> always appreciate your insight. >> let's find out what's coming up on "squawk box. becky quick is back with us. she joins us with a look how are you? how was it where were you >> i was great vacation was wonderful i was at the beach were you at the lake house >> bac

to nicole on the floor of nyse with the latest. reporter: 21st century fox, parent of fo fox business netwok comes out with quarterly numbers, a beat on top and bottom line. and you were 75% for this particular stock. over last fiscal year versus s&p 500, outpacing that and media groups overall, they did see strength in cable, and double digit affiliate growth, looking at markets, dow finished down 45, snapping a 3 day winning streak, and s&p 500 first down day in 5, nasdaq up 7 days in a row, then uber, new york city council capping uber and lyft. the question is will there be reduced service, and higher fares? taxi drivers welcome it. liz: hollywood celebrities upset over ohio special election results, they are a tax -- attacking ohio voters for not electing their preferred candidate. >> and a group of liberal protesters acosting conservative charlie kurt and candice eones outside of a westboro. west restaurant. >> but first, cuomo called trump's immigration policies jihad, and now governor cuomo pledging to oppose i.c.e., my nex

mike sandly and bob are at the nyse >> it hasn't been an uninterrupted climb since march of 2009.ke almost three separate discreet mini bill markets separated by a reset in between. from 2009 really into early 2011 the market doubled then you had a severe correction some call it the self-bear market it went side ways in 2012. then you have a lift off and reset correction in 2015 and 16. you had different dynamics fueling each one one a snapback petition beginning then the fed involved then correspondent proermts supported things as well as byebacks even though we talk about it being the longest bull pact market by the technical measure. it has been the 90s bull market which we are about to edge out is was stronger about 18% a year returns versus this at 15% the question is is it young for a day. >> a couple of things bother me about the 20% thing. nobody ever decided it was going to be 20% the bull and fwaer is evolved that way in the last 20, 30 years there is no committee that decided on that. number two, we actually did drop 20% in 2011, remember the height of the credit crisis

droppers i guess we have to go. >> we do. >>> we have a news alert let's head to sara eisen at the nyse we have a statement from indra nooyi, the outgoing ceo of pepsico. remember president trump said it was her idea from which he got the tweet today to suggest that companies no longer have to report quarterly earnings. he was going to ask the s.e.c. to look into it. here's what indra nooyi says many market participants as well as the business round table which we are a part of have been discussing how to better orient corporations to have a more long-term view most agree that a short-term only view can inhibit long-term strategy and thus long-term investment and value creation. my comments were made in that broader context and included a suggestion to explore the harmonization of the european system and the u.s. system of financial reporting. in the end, all companies have to balance short-term and long-term performance so nooyi at pepsico offering a little more clarification and context around her comments to president trump that took place at a dinner with other business executives i

bob pisani live at nyse with details. bob. >> hello, mels oi.tirement and this order tries to make some of the rules modern a good idea. two points stick out first the order would direct the treasury and labor departments to consider issuing regulations could make it easier and cheaper for smaller employees to band together to offer 401(k) plans for workers. right now an individual say a restaurant can't offer the retirement plan to employees very easily. but it's did you have difficult to join with other businesses or restaurants to offer a multiple employer plan provided by a financial services group the idea here is to make it easier for say uber drivers and others in the economy to join the retirement plan. it's a good idea second the president orders a review of rules retiring retirees to take withdrawals after 70 and a half. it's out of date people are living longer, working longer and it should be raised and the mortality tables should be change. it's a good time to take a look at retirement rules. back to you. >> fascinating story here.

up, the u k-based fashionace for high-end far-fetched have confirmed plans to go public on the nyse.ook at the year of tech ipos so far. this is bloomberg. ♪ ♪ face aapple and google brewing revolt over the apps store text. too say they are charging much. netflix is one of the companies trying to bypass the app stores. it could put a dent in apple and google's profits. we are halfway through the year and we have seen a number of tech companies hit the public market. dropbox, spotify, making their debuts. number of tech ipos in the united states will return to levels not seen since the miniboom in 2013 and 2014. how well the rest of the year play out? jackie kelly and alex barinka weighed in. >> technology in particular has been exceedingly active, and we have been waiting for this to come back here at last couple of quarters have been exciting. we are definitely seeing technology companies themselves and tech enabled businesses in general just really eager to get out. a lot of this is driven by the fact that we have been in such a strong economic market for a number of years, everybo

bob pisani at the nyse >> the s&p 500 hitting record highs just minutes ago dow up triple digits theasdaq flying high too of course, what do you do now? are stocks setting the stage for a major fall great fall let's bring in joe, ceo and founding partner and dan, he is managing director and director of research with -- gentlemen, good to have you here. dan, how much more can we get out of this? is there more to go in this bull market >> well, it's dangerous to make a big and bold call when the market is trading at an all-time high for sure, but from our perspective, we actually think there is much more to go in this the years ahead. what we've been telling clients is watch out for some near-term volatility as u.s. markets in particular do look overheated or extended here. on a long-term basis and we're talking for the next several years, we still think the u.s. is involved in a massive reflagsary secular, and i think it's going to bring the multiple much, much higher in the years ahead. we think stocks are going to take an inflationary cue from all that money turnover, and within the

get back to the nyse and nicole petallides. give us the week's winner and losers. we're snapping our winning streak. nasdaq pulling out. these are the winners, liz. looking at nike, cisco systems and dow dupont. so you have escaped if you manage, these winners this week. up more than 2%. those laggards involve the industrials. they're surrounded by tariff talk, right? when you have boeing, 3m, can can can -- caterpillar, that goes right in line. 50/50 for loser of the week. turkey poured cold water on our good earnings seasons liz. back to you. liz: really is. don't count out american business, no matter what. nasdaq minutes away from snapping an eight-day long winning streak. our next guest says there so much value to be found in hidden tech stocks right before our eyes, we'll find overlooked one, chris bertelsen. give us overlooked names. >> these are not crowded trades. first one is verizon. it is really a backdoor tech. yielding 4 1/2% times earnings. what is technology about it unlike at&t these guys stuck to their knitting rolling out 5g. 5g makes the phone t

they're targeting neo being a chinese based company, and the fact that they're looking to ipo on the nyse, that's going to get a fair amount of competition. >> new competition at tesla's heels all the time i chuckled when you raised the question, are they going to have to do a capital raise. it seems to old fashioned to ask in the wake of the tweets. >> there's another report out this afternoon that says, as recently as the last six weeks, six weeks into this quarter, that the cash may be -- the cash russian might be down to 1.7 billion, 1.69 billion. that's going to fuel another round of questions where people will say, okay, how much money do they have can they squeak by this quarter? at some point if you're going to be adding these factories, michelle, you know, it's very capital intensive, you're going to have to do another round of raising capital. >> that's why people were so doubtful in the first place. phil lebeau. what do you think about the stock at this point? >> i think it's absurd forget it, let's say this is off the table. jpmorgan did what they thought was the right thing o

get to the nyse. nicole. >> fourth quarter earnings we get them right after the bell.ter, they're expecting same strength, online subscription, digital real estate business, something executives noted on the phone call. we're looking growth earnings per share that is expected to drop roughly 47% is the revenue that expected to gain from news corp, 27.4% year-over-year growth. that is supposed to be for the estimate. we'll watch for that, "after the bell," earnings season has been particularly good outpacing what analysts thought. we'll watch for it after the bell. for last 52 weeks the stock is up 7%. liz: thanks, nic. we have a seven-day win streak, my next guest bought facebook $26 a share. right now he it is $187. >> i like facebook. the stock will go higher, driven by their artificial intelligence integration to optimize advertisers ability to connect with their best customers. and they never lost any users or members through this whole controversy. liz: since you had such a big win with facebook. now you're saying go for garl minute. >> yes. liz: this is interesti

let's go to the nyse. our own nicole petallides is standing by.ey, nicole. >> trish, one of the traders started reprinting the 26,000 hats with his little icon on the back because there is optimism on wall street. while we had the worries about the turkish lira i've been telling you ultimately the big picture here are long-term bullish. we've seen that now, we've seen evidence in many retailers. as you noted 429 points to the upside for thedown. 1.7% gain. that is the biggest gain in four months, april 10th when we gained about 1.79%. we saw walmart, goldman sachs, apple hit a new high, those account for more than half the gains we saw today. thank you to our senior editor charlie brady for the detail. only one dow component is actually in the red. that is what we're looking at big picture here. for the market that is doing better, optimism on the china trade talks, they will resume, less worries about turkey. walmart, this is unbelievable, strong growth, biggest gain in 10 years, e-commerce up 10%. consumers are going into the store more often. w

you've got expanding breadth you've got if nyse ripping to cycle highs this is the best we've seen breadth by that measure and when you look at the equal weights on each of these sectors, so tech is a great example. you also see new highs so it's not about five stocks and what's going to take us through. you probably don't need anything frankly. you've got enough momentum sure we can find weakness. look at housing stocks, but as a generalization, everything is pulsing higher people want to be long stocks. >> you're telling me you've got a broadening bull market so new highs are but a formality at this point. >> well you've got new highs and some major averages. russell is thousands of stocks nasdaq hundreds of stocks. you've got it. you've got i >> i think you make new highs. >> you getting to 3,000 by year's end >> i don't know. >> it's not outlandish >> it's not. you could. you could. but i'm just more focuseded on the opportunities i se individual stocks. like google. it's down seven bucks now. that's nothing on this type of stock, but it could be in the green today. we see the markets

seema modi at the nyse it's pretty ugly crypto is in turmoil >> it is the contrarian made lobs and cryptoturmoil and the markets in turmoil and that's when i want to look for a trading sill n trading signal that maybe we bought it. keep showing it all day long i'm a buyer of that all day long, but the one thing i wanted to point out, what we've seen which is what i saw back in material material, you've seen a huge an increase in short interest up to the point that we saw last april and this chart here showed you what happened when the short squeeze came along and you have a 50% increase to the middle of april to the middle of may i don't know if i would be selling this market and as a trader there's an opportunity to be buying. >> you have been >> yes, i have been. >> which ones? >> i've been buying across the board. bitcoin is the biggest position at this point in time and that seems to have the market leader and the most use kacases and ths is a risk/reward type of thing we break down below that then b.k. will probably be out. >> the former ceo of paypal came out swinging against the cr

world and it doesn't have a new impact as custodian might, but yeah, this is an opportunity for the nysee. and the parent company and i.c.e. futures to cut citi warehouse and the commodity for institutions and it's a name that they trust and a bigger point, you plug right in, if you're a market maker and a trader, you already have a technology and there isn't that much of a build. so that's a headscratcher. that's one where you thought, that's what people coming to the show would say it's a big deal >> it's in show-me mode. when they register those and when they trade and when volumes are high, i think the market will come back in, but you see it over and over, there will be an etf. >> we're lookinging between this picture and the 6 800 level. >> purgatory >> if it were anywhere in the world, would you say higher or lower? >> whatever the asset is >> it's tough. looking at just the charts without any other knowledge it looks like it will go lower. the technical setup right now for bitcoin does not look promising in my eyes >> so obviously, it's very heavy and when you overlay the fact th

no doubt, went to a number of bee gees shows back in the day on roller skates joins us now from the nyse >> no, neil young and nuwave, blondie, talking heads and no, not the bee gees, sorry, brian >> they hit an all-time high and the xrt is up 13% and the last three months hit an all-time high today that's important because the xrt is equal weighted index of about 90 retailers you don't have one big name and you don't have a walmart and amazon pushing it around too much i like this action amazon is on fire this year, but the big retail names like kohl's and abercrombie and 5 below, they're all soaring 30% to 50% this year. what's going on? first, the second-quarter earnings and i don't mean in general. the 108 retailers that retail metrics track are seeing earnings gains of 18% and that's almost as good as the whole s&p 500 gain of 22% so the retailers are making money why is this happening? well, the big box retailers are finally starting to solidify positions and are grabbing some business that amazon isn't they're not going through amazon so the discounters like ross stores and tjx an

let's get to adam shapiro on the floor of the nyse with the latest. >> reporter: liz, talk about yourovers and shakers, let's go to tesla first because, you know, he'ses la -- they missed on the loss per share. the loss was greater than expected, $3.06, and the street was expecting a loss of $2.92, but what a beat on revenue, $4 billion. the street was expecting $3.92 billion. you should know they beat non-revenue the last seven of the last eight earnings reports. so some of the things to look forward to, they expect to be producing 6,000 model 3s by late august, and the goal is to have production up to 10,000 model 3s per week. they also, by the way, have cash on hand, $2.2 billion. that's down from the end of the last quarter, $2.7 billion. dow closed off down 81 points, s&p 500 down 2.9 points, and nasdaq was up 35 points. can't end without talking about apple, almost a trillion dollar market capitalization, $990 billion. well on their way to getting there. and finally the adp report, 219,000 jobs added. the official labor numbers on friday from the labor department. elizabeth: we

adam shapiro on the floor of the nyse. hey, adam. >> trish, 10-year treasury yield touched 3% but fell back. we had fallen a little back the yield from 3% just before edward started to report what was going on with the fed. the dow is off 84 points right now. this morning we were trading in positive territory for the first two hours. we have been down since then. seems if the motivation to sell off is picking up a little bit since we got the fed report. trish. trish: adam shapiro thank you very much. joining me with more reaction, "bullseye brief" publisher and founder adam johnson and our own kristina partsinevelos and moody's mark zandi. been a while. good to see you. >> trish, good to see you. it has been a while. trish: so they're staying the course here. will they continue on the path with two more rate hikes given concerns about trade right now, which they did not fully articulate? >> yeah. they have a script. two rate hikes this year. two more rate hikes this year. 3 or 4 more next time a quarter point each time. in

for the week's winners and losers gerri willis on the floor of the nyse. i will speed read the market close winners. walmart up 10% on revenues in earnings statement, the revenues highest in 10 years. cisco strong earnings. on the losing side, let's look at chevron, exxon, a surprise build in oil stockpiles. that hurt all energy stocks. let me tell you, those big "fang" stocks, big techs, not big this year. it was very weak especially netflix with a six-day losing streak. it wiped 9% market cap. that is all the time you got for me. send it back to you, adam. adam: gerri, thank you very much. greg luken, luken analytics. gerri brought up the fang stock. the "fang" stocks moved indices up but without them we wouldn't be as strong as we are right now or would we? >> the "fang" stocks have done great this year. if you look even beyond just the technology, the growth sector, the growth segments of the market not only led this year and last year, really for the last five years. adam: hello me look forward though. you have a phrase you like, the ts, trump, trade,

live from post 9 at the nyse >> of the fines that the big bank, where did that money go?et a check? did you get a check from jamie >> nope, i didn't. >> how about from corvette >> i didn't get any checks there you go >> it all starts at 9:00 a.m. eastern. is this at&t innovations? yeah, wow..this must be for one of our new unlimited wireless plans. it comes with a ton of entertainment options. great, can you sign for this? yeah. hey, uh.. what's in that one? that's a shark. new and only with at&t, you can get unlimited data, 30+ channels of live tv, and your choice of things like hbo or amazon music. more for your thing. that's our thing. visit att dot com. tap one little bumper and up go your rates. what good is your insurance if you get punished for using it? news flash: nobody's perfect. for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. switch and you could save $782 on home and auto insurance. call for a free quote today. liberty mutual insurance. ♪ liberty. liberty. liberty. liberty. ♪ ♪ welcome to the hotel cali

morning and said there's enough for regulators to start asking questions the former president of the nyse farley recently tweeted to the sec urging the regulator to ask tesla for their signed agreements from funding sources by 5:00 p.m. eastern time that would demonstrate that the funding is, quote, secured and certain in order to inspire market confidence. tesla's independent directors put out a statement this morning saying that musk initiated the discussion with the board about taking the company private they add the that board has met several times since then and said they are taking the appropriate next steps to evaluate a potential deal, scott. >> leslie, thank you very much leslie picker. all right. let's trade this this is not a big shock considering what we discussed one night ago. >> not a big shock that he's under -- >> yeah. you had to figure the sec was going to look into -- >> it's absurd the fact that he did not file, it's ridiculous. also, there will be shareholder litigation that you know, the company knew this was happening and never disclosed it to shareholders all of t

live from post 9 at the nyse >> it sticks to it the man >> it does >> it stick it to the man. >> that'sst thing i think of stick to it the man every day. >> he agreed with me >> he agreed with me thank you. imagine traveling hassle-free with your golf clubs. >> it all starts at 9:00 a.m. >> it all starts at 9:00 a.m. eastern. sending your own clubs ahead with shipsticks.com makes it fast & easy to get to your golf destination. with just a few clicks or a phone call we'll pick up and deliver your clubs on-time, guaranteed, for as low as $39.99. shipsticks.com saves you time and money. make it simple. make it ship sticks. omar, check this out. uh, yeah, i was calling to see if you do laser hair removal. for men. notice that my hips are off the ground. [ engine revving ] and then, i'm gonna pike my hips back into downward dog. [ rhythmic tapping ] hey, the rain stopped. -a bad day on the road still beats a good one off it. -tell me about that dental procedure again! -i can still taste it in my mouth! -progressive helps keep you out there. >>> we've all been conditioned to believe that ecom

there certainly have been disjointed moves when you have the nasdaq up 12 or 13% on the year, the nysesite flat. technology up00 50% or 60% on the year. the rest of the s&p is up only 3%. a lot of these oddities tell us this managing liquidity is taking hold, but whether we see a narrowing of the market, fewer stocks participating in the new highs and small caps to underperform, maybe that's phase lays ahead of us. that troubles me sitting in a relatively defensive position. lisa: have you recently changed your allocations at all, doug? doug: just within our equities. we have been sitting with 43, 40 -- 44% net equity. our normal ranges ready percent to 70%. we are on the low side, let's not as defensive as we could get. part of that is strength in the market itself preventing us from going all the way down to a 30% of maximum defensive exposure. own, we of equities we see some of the defensive groups rise up in our quantitative rankings. our number one sector is health care which is defensive. we own the health care service stocks, own the hospital stocks, so that is our number one se

. >>> six and a half minutes to go before we get started trading here at the nyse on hump day. >> i was enthralled on the papa johns call it's amazing because the new ceo is talking about inexcusable comments the question is the worst behind them now i could argue that the 10% decline in july, which is the bad month, and then the guidance of going forward to minus 7 to 10 could mean that it is behind them the problem is that dominos is taking advantage what is going on. >> weren't they tripping -- >> remember they have great international business but one thing i would come back to is papa john himself he's not going away he owns 29.5% of his stock a quote from him immediately after the conference call he said i'm not going away. >> means what? >> yeah. he issues a statement right after the conference call. he said they're trying to deflect. i'm not going away. >> my mother was angel but they never wrote a book about her >> we know what happened. >> what happened >> he went away. it's onlyicoming up. it's an anniversary coming up. >>> we have an opening bell coming up. don't forget cign

of course, we'll fill you in another look at futures as we set up for an open at the nyse we have more show for you after this we just got married. we're all under one roof now. congratulations. thank you. how many kids? my two. his three. along with two dogs and jake, our new parrot. that is quite the family. quite a lot of colleges to pay for though. a lot of colleges. you get any financial advice? yeah, but i'm pretty sure it's the same plan they sold me before. well your situation's totally changed now. right, right. how 'bout a plan that works for 5 kids, 2 dogs and jake over here? that would be great. that would be great. that okay with you, jake? get a portfolio that works for you now and as your needs change from td ameritrade investment management. designed to save you money. wireless network even when you've got serious binging to do. wherever your phone takes you, your wireless bill is about to cost a whole lot less. use less data with a network that has the most wifi hotspots where you need them and the best 4g lte everywhere else. saving you hundreds of dollars a year. and

re "squawk on the street" from the nyse straight ahead.make more e-commerce deliveries to homes than anyone else in the country, we never forget... that your business is our business the united states postal service. priority: you yes or no?gin. do you want the same tools and seamless experience across web and tablet? do you want $4.95 commissions for stocks, $0.50 options contracts? $1.50 futures contracts? what about a dedicated service team of trading specialists? did you say yes? good, then it's time for power e*trade. the platform, price and service that gives you the edge you need. looks like we have a couple seconds left. let's do some card twirling twirling cards e*trade. the original place to invest online. and that the advertising numbers could double over 2020, they're talking about the possibility that this thing is worth, well, more than 100 billion. and what i really like about it is that it has been a stealth story. you know, giving money to amazon as a pro forma of advertising dollars has been brilliant i'm going to give yo

. >>> counting down to the start of trading on this thursday right near at the nyse "squawk on the street for a mad dash. it is 85 and humid out but you want to talk about winter weather. the. >> the spring wear line of canada goose did quite well. a very big upside surprise 51% of their business was done direct to consumer they are also opening stores, opening a store in hong kong, opening a store in china they're opening a store at the shore hills mall down the block from me which will feature a cold room. what i like most about this story, frankly, is that even though they guided conservatively, only up 26% for the year, this is a company that's supposed to do poorly right now. and it didn't. i don't know if you've seen the spring line, it is an exact knock-off of brioni for one-tenth of the price >> very popular in china >> here's some good news canada no trade spat with china. who are they spatting with >> us? >> besides us. saudi arabia canada goose, how much business are they going to lose because of a fight with saudi arabia >> none. >> right anyway, i think this is probably the g

it's small 50 stocks on the nyse today out of 2500. that's a pretty small break out group.-- reminder here laggards there are a plenty of companies a long way from the 52-week highs. general electric a whirlpool. there's a bunch of retailers that haven't gone anywhere and, of course, a lot of those famous investing companies have been doing because of the price wars that we're seeing from competition for everybody. so right now 28.58 on the s&p. 28.72 is the historic high. >> see you in a bit. we'll get to rick santelli, as well good morning, rick >> reporter: good morning, carl. one week chart of 10s showing you we're holding. as a matter of fact, yesterday we had the lowest yield close going back to about the third week in july you know, the day we ended the 22-session stretch in the 280s and jumped into the 290s if you look a chart starting about the third week in may, you can see there's a lot of support, a lot of price structure below the market that has been one of the support strategies of many traders when yields start to get down they seem to snap back dollar index

. >> bob, thanks >>> bob pisani and nyse.ussell hit agnew high kevin o'leary has been a big believer in small caps and joins to us discuss that trade and throw in tesla as well kevin, good to see. >> you great to be here melissa. >> small caps caught a bid this year on the thinking that they're more shielded from some of the international macrofactors, the trade issues if the trade issues seem to come to an end or if things become better on the trade front, does that spell the end of the small cap trade? >> no. i'm going to bet and i have continued to stay on this trade, that for the next two years the full impact of tax reform will play out in enhanced cash flows in small caps. because what we have seen now is primarily driven by a deregulatory -- deregulation removal because a lot of the states that were in with california, texas be, florida, new york where the small businesses operator headquartered have had relief of regulations we never talk small things like restaurants and like restaurants in the back and frosted glass

. >> all right sarah, thank you sara eisen at the nyse >>> ceo caught in the middle of a trade war.. putting tariffs on his made in china products but moving out of china is too expensive. so, what does he do? >>> we're tracking all the big retail movers today. signet jewelers, dollar tree, abercrombie and fitch. what's moving those names coming up right here on "power lunch. it's absolute confidence in 30,000 precision parts, or it isn't. it's inspected by mercedes-benz factory-trained technicians, or it isn't. it's backed by an unlimited mileage warranty, or it isn't. for those who never settle, it's either mercedes-benz certified pre-owned, or it isn't. the mercedes-benz certified pre-owned sales event, now through august 31st. only at your authorized mercedes-benz dealer. ♪ ♪ wake up early, o. ♪ slap on some cologne ♪ i'm 85 and i wanna go home ♪ ♪ just got a job ♪ as a lifeguard in savannah ♪ ♪ i'm 85 and i wanna go home ♪ ♪ dropping sick beats, they call me dj nana ♪ ♪ 85 and i wanna go don't get mad. get e*trade, kiddo. ♪ >>> welcome back, everybody. i'm sue herera here is yo

apple hit the trillion dollar mark for the market capitalization bob is on the floor of the nyse whateaction when it happened. >> a trillion dollar market cap is a good news story for the market everybody was happy. they would be more happy if there was more volume for the overall market because it's august great volume at apple. four times normal volume apple has been strong on the volume front last week it's not translating into more action and volume for everything else the fang names are stable but not seeing more volume because of the god new around apple. there is the one thing people are missing. but nobody cares because everybody is doing silly valuations let's do some and show you pl the trillion dollar market cap that's the same arizona florida. florida is the fourth largest state by gdp same as apple. apple has the bigger market cap hand the small cap apple is bigger than the turkey gdp. turkey is the 17th largest country in the world by gdp. apple is bigger and big her than the netherlands which is the 18th largest i'm not done $244 billion in cash they have, what does tha

brands taking a big bet on the marijuana business john popper host of "bar rescue" joins us here on the nyseovations where we give you more for you thing. and here's where we shrink the biggest names in entertainment so we can fit them into our unlimited wireless plan. who's first? no. this isn't permanent, right? ask him. [terry squeals.] get unlimited data, live tv, and your choice of an extra on us. more for your thing. that's our thing. visit att.com tap one little bumper and up go your rates. what good is your insurance if you get punished for using it? news flash: nobody's perfect. for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. switch and you could save $782 on home and auto insurance. call for a free quote today. liberty mutual insurance. ♪ liberty. liberty. liberty. liberty. ♪ but prevagen helps your brain with an ingredient originally discovered... in jellyfish. in clinical trials, prevagen has been shown to improve short-term memory. prevagen. healthier brain. better life. at fidelity, our online u.s. equity trades are just

but here at the nyse, here is a moment of silence for senator mccain [ moment of silence for senatorccain ] [ moment of silence for senator mccain ] in 2017, california had the worst wildfire season on record. scientists say, our weather is becoming more extreme and we all have to be better prepared. that's why pg&e is adopting new and additional safety precautions to help us monitor and respond to dangerous weather. hi, i'm allison bagley, a meteorologist with pg&e's community wildfire safety program. we're working now, to enhance our weather forecasting capabilities, building a network of new weather stations to identify when and where extreme wildfire conditions may occur, so we can respond faster and better. we're installing cutting edge technology to provide real-time mapping and tracking of weather patterns. and we use this information in partnership with first responders and california's emergency response systems. to learn more about the community wildfire safety program and how you can help keep your home and community safe, visit pge.com/wildfiresafety ron! soh really? goin

mike is at the at the nyse how to make sense. >> doesn't it seem wamz is busy commemorating the landmarksu hit on some in about two weeks time we are on track to basically christian the current bull market as the longest in history by the conventional definition there you see a 10 opinion year chart of the s&p that looks like a steady unbrumted streak since march of 200937 a month after that it's ten years since the dploegs of lehman brothers which brought on the crisis. and then apple we talked about last week hitting a trillion dollars. the subtext of the conversation is look how far we came in the mechanic does that mean we don't have farther to go? are these signs we are in a critically late phase for the bull market? let me take them one by one and suggest that maybe things are not grit quite as far along as that might seen. in terms of the age of the bull market the conventional defrgs says long it doesn't sferns a 20% decline from the s&p 500 then the bull market is under way. by that definition we have been in the unpresident interrupted bull market for the longest stretch of time

in fact, year-to-date the fang plus stocks, nyse, fang plus stocks, six of them, have accounted for 2/3s of the s&p's gain. just six out of 500 accounted for 2/3. that is cause for certain. that is really narrow leadership. david: michael, a lot of investors remember back to the lazy, hazy days of the late '90s when we were reaching new highs on the nasdaq all the time. some people said the sky is the limit. turns out it wasn't. there was a limit and the bottom dropped out of that market. is it conceivable there is too much pie-in-the-sky talk right now? >> no, not at all. we're in the midst of what i call a convergence economy. we've never seen technology with all these things driving forward. the american economy is a centric economy. apple is a great symbol exactly how important technology has become. every business, technology business, consumers, you can't get by without technology anymore. we're way past the tipping point. doesn't mean we won't have sell off and corrections in there. we're not talking dot-com. came up as a big tech bull, especially with apple, up several times o

sara eisen joins us from the nyse she just spoke with coke's ceo sara, two big deals in the beveraget week or so. this is a lot happening. >> and the common theme, becky, on those two deals, pepsico buying soda stream, coke buying costa coffee the beverage giants are diversifying away from colas, carbonated soft drinks, and moving to where the consumer is going. consumers are going into coffee. this is a market that's growing 6% globally. this really is a global play so i just talked to coca-cola's ceo james quincy about the strategy behind the deal one of the major questions i had for him was really retail operations? costa has about 4,000 stores across 30 countries, not in the u.s. but it is a different sort of business for coca-cola to be in. he told me clearly part of the coffee strategy is having stores because they build business and the brand. we are buying a great management team, which importantly he's keeping in place, that knows what it's doing in retail, clearly not our core competence. along with roasting coffee, that's what they're bringing we're bringing the global sca