sonoma county. and sort of -- and monterey. >> is that disneyland for wine? >> that's the disney land for wine. >> he has a love/hate relationship with napa and sonoma. he grows down here because the land is cheaper and the grapes are just as good. >> are their grapers better than your? >> no. >> but wine aficionados would say there's something that grows in the soil. >> the only thing that they have different than here, they have 400 different public relations people telling you that so they can justify the monuments they built to themselves no wine is worth $50 a bottle. >> you won't find him describing his wines like an aficionados. his company bottles under 37 different labels and selling at trader joes for $2 or $3 a bottle. how are selling wine at the price of water. >> we're overcharming for the water. simple answer. >> if you sell wine for $1.55 a bolt, you're making money? >> we're making money. and trader joe's does all right also. >> he does it he says through economies of scale. now during harvest season, he runs 50 harvesters 12 hours a night. >>

it's williams sonoma, bed, bath and beyond, some home builders are in there, but you have to look at these effs. xle is three stocks, exxon mobil, conoco phillips and chevron. you have to know what's in it. the builders don't make up the indices the way you would expect. >> what you really need to see is inventory begin to be worked off, and then home prices will begin to rise. the data today will probably confirm that the housing bubble unwind has reached the bottom. >> plus, just to throw more in there, there's tariffs, regulations coming down from canada, quotas, a lot of reasons why lumber can get disconnected. >> let me ask you a question, if the under wind has truly hit bottom, why has the ten-year note remaining here? in the face of a risk grab -- >> can i field that one? >> yes, you're in charge. >> who remembers what last year-over-year cpi was, minus 2.1? where did the ten-year note close today? 2015, add 200 basis points, what do you get? probably a more realistic look. i'm not saying i believe the cpi data, but let's be real here, as long as they auctions keep going like

williams-sonoma d rising 11% after posting a surprising second quarter profit.eanwhile, orders for ngasting goods like appliances, computers,nd cars ro neay 5% july, the third increase in the past four months. one reason for that surge, the popular cash for clunkers program. e government reported its final tallies wednesday, coming in just under its $3 billion budget. sales of nearly 70,000 vehicles totaled $2.8 billion. >>> well, aaa is predicting a dramatic drop i labor day travel thisyear. the survey fids 11% fewer americans ll hit the road this holay and 20% less will travel by plane. in order to cut costs but also keep kids already in school close to home. >>> finally, you've probaly heard living in new york city is a tight squeeze. well, this home is for sale. it is in historic greenwich village and it takes new york standards to an trem the super skinny house is barely nine feet wide but has a fat price tag, $2.7 million. >>> well, a higpriced rookie is awarded a sarting role. and the phillies ryan howard keeps baing big dingers. plus, boston remembers te

dollar tree is higher, as well, like williams sonoma raising its full year forecast at 63 cents a sharestock up $2.88 and the good news from that discounter giving a lift to rivals, family dollar up $1.48 and big lots which reported a 9% jump in second quarter profits yesterday is higher, as well, up 85 cents. sticking with the discount theme, the operator of design shoe warehouses is up $1.13 after earnings of 17 cents a share, we're 6 cents ahead of estimates and even the high end getting help today. jewelry retailer tiffany up 59 cents after being raised above average. the outliar is haynes celestial, lower after it reported weaker than expected third quarter results and lowered its forecast for the full year. off $1.25. mandy, back to you. >> thanks very much. "power lunch" at the top of the hour. bill griffith? >> larry, we have a board member from whole foods coming on who wants jack mackey out because of the public pronouncement. we'll talk about it and get your thoughts, as well. a couple analysts are looking at the charts and what are they telling about this rally since march.

look at what pushed this thing higher today -- it was williams sew mome sonoma, bed, bad beyond. it did pull back but those names are what's pushing it right now. they're get some boost for one or two of the housing names but it's a lot of the housing name suppliers that are pushing this up. >> consumer finance and consumer banking. it's those that hold the loan of the consumer because you are seeing the wealth effect. the consumer right now, their balance sheet is actually strengthening with the end of this bursting of the housing bubble. >> oil stocks down 1%. oil -- i'm sorry, down 1%. oil stocks hurting, wish they were down only 1%. joe, what's the score there? how much were they down? >> real quickly on oil. we talked last night. there was this reverse. remember, we got up to a ten-month high of $75. i am not ready right now to say that the commodities trade is over. you have a great point of reference in the oil futures at $68. against that on the pullback today, i bought exxonmobil. i bought sun corp. and i bought weatherford. i still believe in the coddy story and oil sto

the concern i have with williams sonoma is the deposit brand on tiffany, but with williams sonoma, i think the pottery born -- roughly half their business, i think it needs to be revitalized. and i think it's suffering a bit from just getting a little stale in the marketplace, and it's also much more tied to housing than obviously than tiffany would be. >> all right. brian nagle, good to see you. thanks for joining us today. >> thanks for having me. >> you bet. the forecast that the deficit is set to climb to $9 trillion over the next ten years created a firestorm of fear this week. but should it? isn't it possible that growing deficits could actually be good things right now? sparks are set to fly in today' "power grid." >> plus, minutes away from the "fast money" halftime report, and she's back. melissa. >> hey, guys, it is great to be back. of you think it's a quiet friday in august, but owe contraire, we have seen a turning in the market, the fade in energy stocks, our traders will pick apart this session, and dell and intel charging higher in tech land. but the best way to play

williams-sonoma had great earnings a couple of days ago, folks.es initiating coverage of newmont mining with a buy rating and a price target of $52 because of expectations of a rebound in gold prices and increased frux its new mine. maybe. gold has been 950 for noz now. time for the "fast money" final call. our next guest says a weaker dollar means stronger stocks, a theme that will likely benefit the basic materials sector. jim iuorio director of tjm institutional services. jim, not only is the euro stronger but heck, even the yen has been stronger. >> remember the yen, that's a different trade. that's not part of the same dynamic. yeah, the euro's a little stronger, but yesterday when the dollar weakened fairly precipitously i think it gave people confidence that perhaps at some point in time it's going to tack a crack at those lows that were put in about a month and a half ago against the euro, against canada, against aussie. it is lower against aussie but against the other two it was rejected a little bit, and i think that was one of the reaso

certainly hope you have no bad days.as we wrap up our show from ironhorse vineyards and winery in western sonoma county, thank you for joining us, we hope you enjoyed your stay in wine country and we'll see you again next time. for more information about today's show, log onto our website inwinecountry.com >>> hi, everybodying welcome to "the wall street journal report." i'm maria bartiromo. it's all about jobs. the key employment report just out. what it means, what it tells us about the economy and what is next. >>> she is one of the most powerful women in business in the world. we'll talk with pepsi to find out where the fizz is in her biz. >>> chris gardner's amazing story. from the homeless shelter to wall street continues. with advice on how to use your passion to find success. "the wall street journal report" begins right now. >> this is america's number one financial news program. "the wall street journal report." now, maria bartiromo. >> now here's a look at some of the stories in the headlines this week. >> here's a look at what's making news as we enter a new week on wall street. for

williams sonoma is one of our most important customers. we have nine paper manufacturing facilities in the country, including one in canada. we're also a major supplier to magazine publishers and ad industry. in fact, more than any% of the paper we produce is used in magazines and catalogs and advertising. with that, you can imagine the viability of the postal service is critical to the future of our company. as senator collins pointed out, there are 9 million employees whose livelihood depends on effective, efficient, and low- cost postal service. certainly, our company, with the paper that we produce,: 3 system that shows up in your mailbox, it is critical that there be a viable economic system. what we want to keep in mind is studies continue to show the lowest cost and most effective way to get a response from a catalog or advertise and is from print advertising to your home. that is a need that will be there for advertisers. the key concern, i think, has to be can the postal service can be effective to hold costs down so that they are

shares of retailer william sonoma is considerably higher. mortgage applications rose 7 1/2% last week. that's a slight rise in mortgage rates during the week. that's cnbc.com news now. i'm courtney reagan. >>> live from the financial capital of the world, this is little house on the street. i'm mark haines. >> we're going to start it out that way, are we? >> a volatile morning for your money. futures bouncing around, but -- >> how long were you waiting to let me have that one? >> well-done. right now we are in the red on the futures giving up a. solid durable goods data, orders logging the biggest gain in two years. >> i'm melissa francis. senator ted kennedy passing away, on a much more serious note, at the age of 77 losing his battle to brain cancer. the president expected to comment live less than 30 minutes from now. you didn't set me up very well. >> i'm sorry. didn't know it was coming. let's check the futures. down 1.10. where's fair value? up 0.65. that's what, ten points on the dow? not a biggie. >> let's find out you this morning's

electric at williams sonoma. the stock is doing well and largely because they are cutting cost., allowing them to raise guidance and it's more on cost cutting than sales. they are strong with all of this. dollar tree is higher along with the scores. january cents only and all this is on the idea that people want bargains. this is a trade that worked really well since the march lows. costco since those march lows up about 20% or so. it is a little bit expensive relative to the peers, but right now all the retail buyers as far as stocks are going towards the discounters with the idea that people want values. >> thanks so much. it's the last trading day in august and as we head into the hour of trading, the s&p 500 is down, but up around 5% on the month. now to give us an update of what we should be looking for is the managing director of jeffries and rosen black and white securities. thanks to both of you for joining us. what should we be looking for? >> we need to see a consumer getting back into the market. we see that with the more recent computer stocks and tech comes alive. y

williams sonoma is one of our most important customers. we have nine paper manufacturing facilities in the country, including one in canada. we're also a major supplier to magazine publishers and ad industry. in fact, more than any% of the paper we produce is used in magazines and catalogs and advertising. with that, you can imagine the viability of the postal service is critical to the future of our company. as senator collins pointed out, there are 9 million employees whose livelihood depends on effective, efficient, and low- cost postal service. certainly, our company, with the paper that we produce,: 3 system that shows up in your mailbox, it is critical that there be a viable economic system. what we want to keep in mind is studies continue to show the lowest cost and most effective way to get a response from a catalog or advertise and is from print advertising to your home. print advertising to your home. @@@@@@@@@ @ @ @ @ @ @ @ @ @ @ @ . [captions copyright national cable satellite corp. 2009] [captioning performed by the national c

whether it be macy's or rafflph lauren, tiffany, fell m if you really need anything that william sonomaou just want it because it's fabulous. it doesn't vareally have to do with need. >> it's candy. that can't be going up if people are in a recession. >> tiffany, another one like that. >> so i continue to think that back to school or this period is much stronger. just like it turned out that april, may and june led to a big turn in housing, i'm telling you, if we get a big turn in retail, you can't have these keend of strong stocks. dollar tree is going up, too, but family tree, ralph lauren, tiffa tiffany, this is too braoad. sales are turning. >> and everybody expects nothing from the back to school trend. people will be going to school naked. >> the there are local newspapers believe that no one will go back to school. they're all truant. so i think it's important to recognize the same. housing, retail, these are both better than expected. >> you have a trade on coin star which i love. >> i did a piece last week about whether this thing was a bull or a bear and coin star's red box, i

ah, it tastes like sonoma valley... no, my friend, these grapes are very... sierra foothills... - foothills, ha. - idaho. with fields of the finest hops known to man. harvested at just the right moment, to produce the perfect balance of flavor... and refreshment. i'm sorry, you guys were saying... uh, budweisers all around. ♪ dude, you feeling the hops? i'm so feeling the hops. yeah! you must be looking for motorcycle insurance. you're good. thanks. so is our bike insurance. all the coverage you need at a great price. hold on, cowboy. cool. i'm not done -- for less than a dollar a month, you also get 24/7 roadside assistance. right on. yeah, vroom-vroom! sounds like you ran a 500. more like a 900 v-twin. excuse me. well, you're excused. the right insurance for your ride. >>> here's where i like to put a spotlight on one of your questions. steve e-mails me and asks when you say that 30% of a person's income should go toward housing, do you mean 30% of the net monthly earnings or gross earnings? well, steve, here's what i mean. why would i tell you to work with

like sonoma valley... no, my friend, these grapes are very... sierra foothills... - foothills, ha. - idaho. with fields of the finest hops known to man. harvested at just the right moment, to produce the perfect balance of flavor... and refreshment. i'm sorry, you guys were saying... uh, budweisers all around. ♪ dude, you feeling the hops? i'm so feeling the hops. yeah! >>> here are some of the other stories that we're following on the "closing bell" ticker right now. citi investment research upgrading american express to buy from hold, hiking its price target to $36 from $28, citing improving delinquency trends, fewer credit card loss write-offs, and the company's focus on higher-quality borrowers. american express shares today higher by a little more than 3%. it was a broad rally for a lot of the financials. >>> bernstein research upgrading mgm mirage to market perform from underperform raising its price target on the stock to $9 from 7 because of lower debt levels, stabilizing occupancy rates, and improving margins. mgm mirage today lower by

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. >>> williams-sonoma shares are soaring more than 10% today after the retailer or theed an unexpected profit. and the cash for clunkers program generated nearly 700,000 car sales and almost $2.9 billion in rebate applications. the transportation department says toyota sold the most cars, gm was second. that's cnbc.com "news now." i'm julia boorstin. >>> and there's a live picture of the floor of the new york stock exchange. we enter the final stretch on wall street with the markets pulling back after making fresh intraday highs for the year earlier today. hi, everybody. welcome to "the closing bell." i'm maria bartiromo on the floor of the new york stock exchange. we had a pretty good market earlier today and definitely some pretty good support for this market when we had new home sales up nearly 10%, 9.6% for the month of july, fourth straight month of gains. durable goods ordered up 4.9% for july. and of course coming on the heels of a pretty good rally. in fact, the market is up 400 points on the dow in the last six days. today we are looking at a wit bit of a pullback. joining me

because, you know, williams sonoma did the same thing.n't mean things are a disaster. it means analysts were tired of, surprised to the downside so everyone moved their estimates down. these are still not good numbers. the fact that williams-sonoma beat, they are good things, but does it give a clear picture of what's going forward? not at all. >> we'll talk about lots of prices down. dollar stores are doing better and low price retail -- restaurants are doing better. i think there's a downshift in terms of spending. >> brian, going into next week, how would you set yourself up to trade and make money off the forex markets. >> hang on. the dollar is testing the low. the dollar was looking good as about noon yesterday afternoon. at about 2:00 it fell out of  bed. i think next week we'll see a more significant test of the dollar's lows for the year but i like to buy toes lows. i look to use dollar weakness to get long on the dollar, short the commodity currencies, selling the pound and then also looking to basically sell the yen, sell the

finally, we'll get earnings from the lakes of retail irs dollar tree stores and williams-sonoma and tivo, the pioneers of dvrs. >> coming up on "worldwide exchange," we're going to talk about the rights of universal care and ask if it is economically viable. >> is a global economy on the verge of recovery or are we in the eye of an inventory storm? we'll get the results on that next. >>> i'm maura fogarty. here in asia, china's oil giants cnooc posts a first half drop nernings as plunging oil prices squeeze margins. >> i'm ross westgate in europe. german ifo improves for a fifth month in a row. >> and i'm mike huckman in the united states. we're mourning a patriarch here in the united states, senator ted kennedy. >>> you're watching cnbc's "worldwide exchange" this morning. europe, an hour and a half into the session can't quite make up its mind. the ftse 100 down 0.1%. the xetra dax down 0.2%. the euro may have got a lift from the ifo number, which came in better than expected. the business sentiment in germany. but the stock market actually hit its session high and dipped down after th

williams sonoma posting a surprise profit in the second quarter, thanks to cost cutting, the companyg sales outlook for the next year. and general et cetera i cans up 7%, the company makes cancer diagnostic tests, it did get upgraded to a buy. >>> president obama's stimulus plan working better than expected in the construction industry, that according to the front page of "usa today," titled building slump stretches stimulus, with a lot of road work coming in below budget, because of the recession, construction costs are lower than budgeted. is the stimulus turning outs to be a bargain? julie riginski and greg knapp. you know how to works. the softball to you, julie. is this working? >> well, yes, it is working. look, the stimulus has put a lot more people to work than would have been at work, had we not had the stimulus, including police officers, including teachers who have been able to keep their jobs, and also including a lot of people in the construction industry who now thanks to stimulus have worked where otherwise couldn't have been. it's a bargain, a great idea and i'm glad

things are literally cooking at williams-sonoma. the stock is up 13%.g with pottery barn posted a profit and also has better outlooks in the next year. analysts are looking for a slight rise in july from the prior months. experts are hopeful we are seeing a rise in recovery in the housing market, especially from last friday when existing home sales surged 7%. today we got a little bit of pull-back, but we've only been open about eight minutes here on wall street. rob snin. >> thank you. the post office is offering millions of dollars for its employees to quit early. huh? your mail carrier, though, does not qualify for the buyout. we've also been watching some wildfires in california. it is dry and it is warm today. this is what they're calling the morris fire this morning. and the humidity is very low, so you can see it just kind of stretching up the ridge there. live pictures and we'll cover that. >>> misfortune strikes the kennedy family once again. edward kennedy was seriously injured when his private plane crashed in the woods near southhampton, mas

take a look at williams-sonoma, retailers coming out with earnings, $0.05, reuters looking for a $0.09. lesson to this, kevin, down 15.3, a little learn expected, street looking for 17.5 on the negative side. guide comps down 8 to 13 guiding full year comps down 12 to 15. a lot of retailers, we had staples on yesterday, cfo, who has a hard time finding something positive to say about the consumer in the market. >> it's tough. this is a good company. across middle america, a lot of different -- i think this is the real deal here. you can talk about recovery, but you've got to pull in the driveway and feel like there's a recovery before you are going to see it in the numbers. these companies doing a good job of letting people know. you've heard don cass an i talk about this for a while. there is a widening gap between the stock market and economy. it used to be one for one. it's not anymore. you've got to deal with it. when people say the stock market is up, what they are really hearing is things are better. and you have to broaden view out a little bit. the people running these companie

how is this different from sonoma? >> it's a lot different. this is one the drivers prefer.peed corners and room to pass. that's what drivers like obviously. they like that they can keep their speed here. that's where the double file restarts might not be as interesting. there will be more room for the restarts on sunday. >> the drivers like this place better? how does it compare? >> absolutely like it better. they both have their good points. but the drivers if they were to have a preference and only keep one, it would be watkins glen. there is so much more room to do things and to make moves and make the passes that people like to see on these courses. >> this is an interesting spot for this race. now with the chase that is there, you 0 a different race. important for the bubble drivers. who does this affect this most? >> i asked quite a few drivers. if it's make or break for us: the guys on the bubble? for a guy like biffle on the fringe, this is a track that has been very bad for him. his average finish is 28.7. this is not a place where biffle hopes to make up ground. f