shiller tape has been overvalued for 92% of the past 30 years.tion, i think people have a real misunderstanding. if you only want to buy cheap stocks, your window opens up once every 12 years. every 9, 10, 11. we have to leave it there. barry ritholtz writing for bloomberg opinion. hugely valuable on some of these firm rules always broken. we have one rule. we do a data check. futures up 17, which barely describes the dow move. the dow up 348 points. vix 21.25. the yield story is tangible with the five basis leap on the 10 year yield. the 10 year yield is not out to its envelope, two standard deviations. it is a nice move back from hugely depressed 10 year yield we saw earlier. the real yield is a better real yield, and with that, gold plunging to -$70 on gold. i did a good job. i bought that right at the top of the market. lisa: jewelry. worth it. tom: the check is in the mail. eric cantor at 12:00 with david westin. this is bloomberg. ♪ ♪ jonathan: from new york city for our viewers worldwide, good morning, good morning. 35 minutes away from th

in order to be displayed on the platform the shiller call false pays a lot of heat how much exactly neither party will say department stores filling platform orders will this save offline businesses or spell their demise. that's over the counter retail isn't on its way out and was stick around but in a completely different form for. the. economist fear that small and medium sized companies and their workforces may end up losing out in this digital transformation platform economy marks the dawn of a new age what does is this is practically a new economy because you don't necessarily need 3 or 4 different platforms you need one single marketplace and that's why these platforms have a tendency to snatch up entire markets on the in other words they gravitate towards monopolies and because the market is dominated by only a few players then we basically have not much choice i would say the major platforms don't dominate the market they basically are the market damn i think not because i think that they're good i think there's just. one powerful companies charge ahead in the digital age and dictat

there is a lot of his out of the consumer weimar department stores to the platform one of them the shiller coffee house downtown is the biggest shop in the city. this afternoon they're unveiling the upcoming spring trends. ladies and gentlemen welcome to our grand fashion show here at the house we're delighted you want to take a glimpse at the coming season let me tell you this season will be anything but boring up next is. when the phillies extra special attention is given to regular customers who still prefer visiting in person because we got to be on to the next super. meanwhile the platform business is humming along in the rear stock room customer orders through salon dot come in from all over germany. people are still buying that skirt. in 24 hours a day working in the digital age constanza here bishop hyatt and christiane of course are looking for the product ordered the internet has created a new profession besides sales clerks there are now so-called pickers. whatsits i number it into the a.n.c. reserved for. who is here is 0 for this can't be it. i've got a 5 to 5 here anyone know

the case shiller 20-city home price index jumping 3.5% year over year just in the month of june.es. it was a very big beat in the month of july. new home sales, the highest since december of 2006 but here's the question. does that foreshadow depressed consumer confidence for august, you know, this after fannie mae showed home purchase sentiment is drying up in july and those forbearances, that means you can't quite make your mortgage payments, are down for a second week in a row to a low not seen since mid-april. the mortgage bankers association reports that exits out of forbearance are also slowing. are we watching a real-time icing out of what had been a red-hot housing market? we try and be ahead of that soccer ball. not where it is at the moment. we thought let's bring in sheryl palmer, the ceo of taylor morrison homes, a market cap of $3 billion plus. what do you think? we have an analyst out there from auction.com basically saying that the housing market is feeding off a sugar high. you've got very low interest rates. you have extraordinarily low inventory and almost a pani

kay shiller is in as well up 4.3. the roadmap begins with the do you -- do you jones.ow apple's shakeup is driving the blue chips plus the online surge, best buy notching is 242% gain in e-commerce sales in the second quarter but can it last? trade optimism, u.s. and china officials reaffirming their phase one commitment, the s&p is poised to add to its record run. jim, i saw you last night mentioning those changes to the dow and your general point was don't be fooled in thinking there is as much money indexed to the dow as to the s&p. >> we said that last night, it's been the theme all morning and there's been no sellers. one of the reasons there's been no sellers are the people who are now trading stocks in early hours have tremendous conviction in the face of being wrong it's rather incredible because the hubris of these people they must think dow jones has a lot of money to it and it has to come out of exxon and into salesforce david, you have been at the forefront of the network in explaining the nature of the dow and you see this, too. aren't you shocked that eve

really interesting gdp is globally at 4% based on history, going back to the 1880s and we have case-shiller not worried about a denominator effect bass on portfolio. we're on our ramp hmp up period to private assets still but i'm concerned about protecting our existing portfolio, should the markets experience another sell-off >> jim, that sort of raises the question of how are you processing right now some of the more cautionary data points we're getting on the possibility of stimulus running out, the end of forbearance, the more delinquencies, obviously the continued picture of perspectprv layoffs. what does that offset the strength we see in housing >> we have yet to see what degree it will or will not offset is. we have an election year, likely contested no matter what wins, lending volatility to an already volatile landscape and we continue to think that medical data is the key to everything, both to our economy and to how the market reacts and right now we do think that investors may be ahead of the medical facts. all that said and done, the data that we've seen so far, the fundamental

kay shiller is in as well up 4.3. the roadmap begins

the case shiller home price report just came out this morning, a complex deal, pick out the main points for me lauren. lauren: prices rose three to half% in june from last june, we are seeing gains and prices moderate a bit from they, still the strongest gains are in phoenix, seattle in tampa in the left as well as the southeast of course the biggest issue for the market right now is there is not enough supplies that is pushing the price at home up, three and half% in june. stuart: that a sellers market. thank you. let's get to the gulf coast, tropical storm varco faded before it hit louisiana but the golf state dodged part one of the two storm attack that they're going to get this week. laura is now a hurricane and may make landfall tomorrow. laura could be supercharged to three storm bringing 110-mile an hour winds and obviously heavy rain to texas, louisiana, alabama, laura on her way in from cuba in dominican republic leaving 11 people dead there. 80% of the gulf region oil production shut down, 80% shut down and that would include america's largest oil refinery, the price of oil is