i think tech. tech is immune to washington. tech will come down tomorrow off the amazon quarter and then maybe you do some buying. but never forget we want to take some profits. you never know when this guy is going to come back again. stay with cramer. >>> coming up, is a bottom for the steel industry in sight? cramer gets the state of the sector with nucor's ceo dan dimicco and finds out whether the economy is ready to forge ahead. at first i was afraid. i was petrified. kept thinking that each meeting meant... that i would have to fly. but then i spent so many nights... reading e-mails way too long. then i grew strong. network video came along. ♪ and so i'm back ♪ no time to waste ♪ just click the mouse and get things done ♪ ♪ see people face-to-face ♪ i should have changed things long ago ♪ ♪ this technology saved the day! ♪ [ female announcer ] more collaboration, less complication. that's the human network effect. learn more at cisco.com/newways. has the fastest serve in the history of professional tennis. so i've come to

i think tech. because tech is immune to washington. tech will come down tomorrow off the amazon quarter and then maybe you do some buying. but never forget we want to take some profits. because you never know when this guy is going to come back again. stay with cramer. >>> coming up, is a bottom for the steel industry in sight? cramer gets the state of the sector with nucor's ceo dan dimicco and finds out interest this dealmaker whether the economy is ready to forge ahead. >>> plus, which smart phonemaker takes the top of the tech heap? jim makes the call on which could be dialed in for dollars and which you should drop on the sell block. >>> and later lightning strikes. cramer goes electric taking all your calls in a spine-chilling overcharged "lightning round." all coming up on "mad money." (announcer) take your time to find the right time with cialis for daily use... a clinically proven, low-dose tablet for erectile dysfunction you take every day so you can be ready anytime the moment is right. tell your doctor about your medical co

on balance, can the tech rally survive? i ask this because tech has broke an lot of hearts. i think we have a chart, over the last 20 years, tech has fallen 13%, can this tech move continue to move? everybody has really elevated tech.. to be sure, the nasdaq has been great, tech dominated. look at that chart. over the last 20 years, it's actually dropped 12 1/2%. you can see that flatline that goes all the way back to what 2001 or so, so, jon, what's your take on the tech in general? >> i would point out that we're dealing with a different gal lax say, different universe of companies now than we were dealing with 20 years ago. microsoft 20 years ago versus now, you might look at it different. can it sustain the rally? my gut has to say, i doubt it. look at march, look at now, pretty much everybody who's anybody in tech is up 25-50% since the march lows. that said, if you sell tech, where do you put the money? i look at tech, look at companies like ibm, companies like cisco, companies like intel. they're very well run companies. you have to believe when this entire global eco

you cover the tech beat a lot. china and tech, so much stuff coming out of china. we heard this regarding intel. what do you hear? asia, material stocks are up, china has $2 trillion worth of reserves in the latest report, will diversify, buying gold, copper, commodity, i don't know what, spurring tech because of the sale. >> it's a great story and obviously china handled their stimulus package probably better than the united states and borne itself out. at some point the domestic level in china needs to grow where it can sustain something. they need a better domestic economy. not nearly the scale -- >> i will repeat what i said, i believe the china tail could be wagging the u.s. stock market dog. >> you think so. >> i think so. i have to think about that. tail and dogs. let's see that again, look at that smiling face. >>> we fortunately have big bad news coming out of obama, washington ready to legislate a crackdown on hedge funds. rebecca joins us with the full story. >> hello. under the proposal every fund with assets under management will be obligated to regist

why else do we still like tech? as i have said earlier and as i will keep saying until it hurts my ratings, the mobile internet tsunami cycle where people were buying more and more devices that can access the web anywhere and do just about anything. a cycle we talked about so much on this show and we'll keep talking about because it's still in the early innings. as it happens i think the best mobile internet play is also one of the best plays off of intel's fabulous quarter. you probably couldn't put two and two together, i am going to. apple. which reports next week. i think apple will have a huge quarter. they have the kind of products that intell highlighted as being in the sweet spot in its conference call. you can also play it in the mobile internet cycle with qualcomm, created the technology that created a boom. the stock i own for my charitable works. if there's more enterprise spending which everyone says is coming back, emc, hewlett-packard, and crisco, the last two names in my charitable trust, because i p

teches is very forward looking, nothing shows more promise than tech. that updraft so take the stock long too. >> not a bad point, jim, it's been a decade since tech has been a long-term leader in the % market. >> don't you think it's because of that reason like everybody likes to think promise and technology is promise. yeah, they have decent earnings but i think it's more a psychological jump to get out of the doll droms here. >> tech has inventory control in place, they have cost management in place and right now the business is grog. we're not seeing many who are organically growing their business. >> all right, gentlemen, thank you very much. >> giving us something to think about. don't forget, jim and rest of the options actions again fridays at 11:30 p.m. >>> just ahead, chrysler makes the first move, massive rebates. deja vu all over again? 15 million americans play online poker for money, even though it's not legal in the u.s. is it time to change that? g b [ engine revving ] [ engine powers down ] gentlemen, you booked your hotels on orbitz.

the revenues have come back for every tech company i follow. the top line has been excellent in tech, and the bottom line better. nate in ohio. nate. >> caller: yeah. my baby vincent is crying boo-yah to you, jim. >> interesting midwest boo-yah. >> caller: freeport announced the re demp shun of senior notes due in 2014. because the interest rate is low and not due for five more years, are they wise to do this, or making a mistake? >> no. who am i to contradict ackerson, although he may pay a high price. this man is very balance sheet oriented. he's the ceo. let's understand. he cut the dividend when the stock was at 17. you have since caught more than a triple from when he caught the dividend. i think he does a lot of things right for shareholders and makes it so the debt is not great. basically i'm telling you scf is a terrific, terrific company i've recommended for a long time, and ackerson is the reason. he's a conservative man in a wildcatter's business. think of this market in terms of medicine, in terms of prognosis, because people are gi

let's call tech a robust 98.6.ext there are the hard-to-diagnose patients, the natural resource stocks. they came down with an american flu but they found the cure in asia. the problem with these natural resource names was that they've been pumped up on steroids by hedge funds that speculated in commodities last year and now they're being juiced almost entirely by chinese buying. for those reasons, we can't really tell how cheap they are. the oils? hard to tell what they're really worth. i go by dividends. up 4%? i like them. they're very cheap because we're using less crude and aren't finding more of it. but now that they're off steroids they're simply flabby, an out of shape group except for those taking chinese red bull no doubt intravenously. obviously there are other stocks that are still in critical condition or really do have diseases that only a few will be able to beat and still come out whole. among the banks, only goldman sachs and jp morgan. both stocks are my charitable trust, seem like they'll be rest

so in the short-term, tech could go either way. think it's likely that we'll get a little bit cheaper price just because the market's so overbought. but when we do, i think you have to buy because the mobile internet should only give us a multi-year rally just as the pc did after '92 and the old-fashioned internet did after the '96 streak. in order, if history dictates, buy the weakness or buy the strength. either way, you should be a winner given the similarities between the catalyst that drove each of these fabulous bull runs. >>> gary in florida, gary? >> yes. >> go ahead, gary. >> caller: jim, how you doing? boo-yah, love your show. >> thank you, chief. what's on your mind. >> caller: my mind is google. i'm a big fan of the company, the stock's had a huge run since march. my concern is with increased competition from microsoft's new search engine, rumors of yahoo and microsoft getting together. my question is is this a zero sum game? and can only one company win? and is that company going to be google? >> gary, i think you rais

in the banks and tech.e to say there is always a bull market somewhere, i try to find it here for you on "mad money." i'm jim cramer, see you tomorrow! >> the dow gets stronger. the car czar versus $100 million man. senator de mint versus joe biden. the kudlow report, next. 31 are streaming a sales conference from the road. eight are wearing bathrobes. two... less. - 154 people are tracking shipments on a train. - ( train whistles ) 33 are im'ing on a ferry. and 1300 are secretly checking email... - on a vacation. - hmm? ( groans ) that's happening now. america's most dependable 3g network. bringing you the first and only wireless 4g network. sprint. the now network.

the taiwan index is tech-heavy. 57% in is in tech. the exposure and you get tech exposure and an e mortgaging market that is not commodity centric. >> that kind of trade is scary. >> i would agree with you. they are in the emerging marks and you have to use the tight stops. my time frame is the next three months or so. i can see strengths in taiwan, but i would use tight stops in the market. >> i like it. me about your next trade. >> for us we would look at the xles and we have seen a sell off in the crudes that has been dramatic and recommending the clients in june. we have seen this move down to 55 and 58 in that range. that's always good support. keep in mind the crude with the trade a while back and the sell off is going to have the pressure on it. crude is not at the bottom yet. >> tim, for people who don't know, the xle is the energy etf. why would you do that? there a million different ways to play. you can buy the enp couples and why is this the way to do it? >> a good way is always to and after the quick sell off and spread o

seven days in a row for tech. tech has been phenomenal. it's been resilient. the human inclination after goldman sachs, after intel was to sell, sell. look at goldman sachs. look at intel today. intel got above 1840. goldman sachs continued there. s & p, we are at the level, where if you are a money manager, you get uncomfortable. because you've got to beat the benchmark and it's time to start allocating. >> we threw up a chart before of ibm. the earnings came in better than expected. ibm raised its forecast to 970. even bullish analysts said it would raise its forecast for the year by just about a time. so really, playing the cover off the ball, not the doors off the hinges. whatever metaphor you want to use, ibm did it. what's going to win out in the end? >> i think for these days, it's a similar theme. they crushed on the bottom lineup they were light on the top line. and the margins were good because they've showed how to rein in spending. it's about the outlook they're giving for the second half of the year. in ibm's case, the stock's performance here is

it's actually a spinout of a local tech company and moved to the west coast. what is really interesting is we're starting to see mobile advertising in local marketing and consumer have, their spending habits of their time and money is really shifting into data. and the massive proliferation growth in aps really shows and proves to us that the consumer is really hungry for more and more data consumption just wrapped up in a new package called aps. so i think that is a incredibly exciting area that we are very, very excited about. >> host: is it all about the iphone? >> guest: no, actually i don't think so. i mean, iphone is, obviously, where there are a lot of buzz is going. but we think, i mean, that is still a relatively small market. i mean, certainly a fast-growing market, but i think the jury's still out as to who, who's going to sort of, you know, take over that. >> host: janet yang is a principal with novak biddle venture partners. political campaigns have gone high-tech, and at the conference there was someone there responsible for the obama campaign's

these tech stocks, people want to own them. they're getting the glimpse of good earnings from a couple bellwethers and can feel good about that driver for the entire sector. >> i would have no problem if energy stepped forward and carried the baton as we continue this race higher. >> that's because you're long energy. >> that would be great. >> what's interesting today, stocks are flat but financials did fairly well today. why are you laughing? >> i'm a happy guy. >> higher by 1%, bkx high beyer 1% though we had all these reports saying credit losses were terrible. we got it out from wells fargo and morgan stanley today. why are people so optimistic about the rest of the sector beyond morgan stanley and beyond wells fargo? >> i think credit losses being terrible should come as news to absolutely no one. so really the question, i think the reason wells fargo is down is because there was such a big runup last week and so much optimism about recovery in financials earnings. i thought actually wells fargo's numbers weren't bad at a

doc, look, techs obviously been on this big run. we referenced the fact the nasdaq is up 20% year to date. do you think it can continue? >> yeah, i do. just that spss that you mentioned that ibm purchased for $1.2 billion, that's a 40% pop overnight. the reason it continues to get done is there's so much cash on the balance sheets of ibm, of oracle, cisco, microsoft. we haven't mentioned them in the takeover space and they've got a ton of cash and going to spend it. so the firms i would concentrate on are the ones basically in the 500 million to about 5 billion space. i think those are going to be gobbled up quickly as these big tech firms have the cash, don't need to go out and raise it. that's been an ongoing theme that continues to play the organization for economic cooperation and development was out with a report this week saying tech firms see a recovery. certainly around the world from the companies and the analysts that you're speaking with, which sectors with within tech are feeling the best right now would you say? >> i th

. >> you're not in tech and financials, right? >> no. they're legacy assets are still eroding and there's no private demand for money growth.. >> bill? give us some hope here. he's killing my hope here. come on in. >> listen, the american people are resilient. they're balance sheets are being cleared and cleaned. we're not a nation of destitute people. it's a strong, rich country and i'm tired of hearing about -- >> what has that have to do with anything? >> it has a lot to do with everything. >> i'm more american than any one of you guys. i love america. what does that have to do with making money? the hang seng is up 25% this year. >> it has to do in part with the mood of the country and the fact is, the worst is behind us and people are starting to feel their oats again.. and that is a good thing for the market and a good thing for the economy. >> i hope and pray you're correct. >> one of the interest things -- >> let's close it there. that's one of the nicest, most hopeful things that i've heard michael pento say since he started com

the doctor left virginia tech a year before the shootings. a criminal investition is underway. tim kaine said the details of seung-hui cho's health records will be released soon. >>> families of virginia tech shooting victims pushed lawmakers to vote against a concealed weapons amendment. today, they got their wish. supporters were just two votes shy of the 60 needed to approve the measure. >> by a narrow margin, the u.s. senate shot down a measure today that would have allowed people to consider it -- to carry concled weapons across state lines, a rare defeat for the nra. >> it has a lot to do with states' rights and the ability of law enforcement to set the standards, the safety standards for gun ownership and carrying concealed weapons in their own states. >> 20 democrats joined republicans in support of the bill, but it fell short by two votes. republican senators did lugar and another surprise the nra vocates by voting no. >> there is so much politics going on it and a vote like this, they know what it takes to get it passed. >> big city mayors and gun victims groups lobbi

and they're waiting to be that to apple. >> what about tech. >> i think you need to diversify in tech, by smas, buy semiconductors. i'm bullish on apple. i'm long apple for the reasons we just talked about. we have the consumer coming in in september. there's a lot of reason to be long tech. >> you should be bullish on apple. my clients have been bullish on apple. the biggest concern from apple, can they encroach and steal business from blackberry? i'm a blackberry user and saw 34ing earnings they weren't able to get that corporate -- >> buy multiples. if you buy tech stocks buy them cheap. i wouldn't want to buy tech stocks at 20, 30 times earnings and not overpay and try to get a dividend yield. >> they have been overpaying. that's the problem with bull markets they never let you in. whatever. >> who's -- >> bill smead here. >> 10 seconds. >> we own at&t and verizon. we would rather be owning the service, people sending us $100 checks every month. >> rather than the hardware. >> rather than the hardware and get the dividends. >> thank you, guys. sorry about the diversion into all th

hello, jim. >> good to see you. >> i've always said tech, at least in the last ten years or more, tech will break your heart. you went further, the internet is dead as an investment. and you lumped in cisco, as well. what are you thinking? >> well, larry, i think the dream is over. we've had this dream for 15 years that internet companies would have infinite margins and growth and we see with the latest numbers that yes, they're surpassing expectations, we love internet and tech, but they're like a utility company, growth is flattening and that would have happened whether we were in a recession or not. there is very little barrier to internet companies, not talking about cisco here, but start-up internet companies. and even with a google we see flat growth and the margins are going down, like other people are entering this business. >> how about ebay and amazon? >> you know, ebay has been floundering with a biz model. i do think paypal will be a successful piece, and they'll spin it out, reversing, buying several years ago. amazon is going to continue to grow and take percentage market

now a couple of sectors mike and dan referenced earlier, the tech sector, your tech etf, put buyers and protection in this rally, go to the xlf, put buyers, some protection there. where is again? energy, are we going to have a breakout here? individual stocks, there's nothing too crazy going on, that's okay. that could be a great opportunity. when things are quiet in the options, sometimes it's better to get involved. what is most fascinating this week, ets became much more popular again. people were using them to hedge to really look for different ways to position themselves. you could look at the agriculture etfs, as i mentioned the energy, the financials, the tech, pretty much across the board. >> scott, does it matter. i'm going to take the other side. does it matter it's energy in particular? we're putting emphasis on this. you want to see leadership, but can it be health care, another name outside of technology at this point? >> it could be. but as we pointed out, oil is such a huge portion of the s&p. now stacey makes a great point, we've seen volatility buyers in oil names, but

>> i'm a tech analyst, so i think i'm going to vote tech. >> okay. why? >> well -- >> i mean, besides the fact that you're a tech analyst. >> tech companies going into the recession had very strong balance sheets, and cash flows, and they generally maintained those fairly well. even though there's been revenue declines. of now they throttled back on costs, their margins are beginning to turn up, and there are some sectors that are looking quite bright in terms of capital investment, which is a leading indicator for the recovery. so i like tech pretty well. >> macke, let me go to you. two favorite numbers this week. today's housing starts, maybe we'll put it up on the full screen. this is the third straight month that single family construction has gone up. the other one i really love, there is your housing starts. actually, one, two, three, fourth straight month, so that's good, although the levels are low. the other one, dean, the huge drop the last two weeks, 100,000 in jobless claims. i want to ask you if that number is going to stick. >> we don't thin

quite a bit more are now into software and the high-tech investing. there is always a bit of competition between india and china in that regard. india is known for the software technology and china more than hardware. i think that is starting to shift in china, particularly in the last five years. one of the driving forces is that a lot of the u.s. the venture capitalists are moving to asia to invest. we're seeing u.s. venture- capital lists investing in baidu, the google of china. there are a lot of similarities in what is hot here and what will be hot in china. they follow suit in a similar type of technology. >> could you speak about the mobile investments you are looking at now and in the future? >> one of the most exciting areas in mobile is in the al pps, the applications. we have the social gaming network that is one of the thatop iphone applications. it is a spin out of a local tech company. we're starting to see mobile advertising and marketing. the consumer spending habits are shifting into data. the massive proliferation and growth in appli

the techs managed to hd on giving the nasdaits 11th straightession to the upside. but the dow slumped to a csing loss of 34.6at 8881.26. >> suzanne: smalbusinesses are stl reeling from the credit crisis. the national small busess associatiosaid today nearly % of its members can't get t financing they neeto run their compies. that's up from a thi at the end of lt year. as we continue our "revivi the economy" coverage, stt gurvey shows us how onemall business is facing its owcredit challenges >> 60-year-o and family owned ames in hamburg new jersey ds things with ruer. it mes gas masks for the army, copying machine rolls for xerox. it coats the inses of engines fothe f-35 jet fighter. it's workingn a prosthetic dece. inhe last 15 months the $25 million company s seen sales gr 20% and now employs nearly 200 people. if youe looking for green shoots, ames seems a likel candidate. the coany is adding to its payroll and itants to expand its products andncrease producti. the problem with theredit markets inheir current state, is getting the financing. while es has been doi

the techs managed to holon giving the nasdaq s 11th straight ssion to the upside. but the dow slumped to a clong loss of 34.68 8881.26. ts >> suzanne: small sinesses are stilreeling from the credit crisis. the national small busins association id today nearly 40of its members can't get the financing they need run their compans. that's up from a thirdt the end of lasyear. as we continue our "revivinghe economy" coverage, sco gurvey shows us how one sll business is facing itown credit challees. >> 60-ye-old and family owned ames in hamburg new jers does things witrubber. makes gas masks for the arm copying machine llers for xerox. it coats thensides of engines for the f-35 jet fight. it's working oa prosthetic devi. in t last 15 mths the $25 million company haseen sales grow0% and now employs nearly 200 people. if you'rlooking for green shoots, ames seems a likely candidate. the compy is adding to its payroll and it wts to expand its products and irease production the problem with the cdit markets in tir current state, is getting the financing. while am has been doin

many big names like microsoft weak on some disappointment over tech earnings. we are set to break, though, that nasdaq winning streak. maria? >> up next, an exclusive interview with labor secretary hilda solis. we will discuss whether the latest minimum wage increase will help workers or whether it will actually force employers to cut more jobs. she joins us in a cnbc exclusive. >> and after the bell despite the recent rally there's still more than $4 trillion sitting on the sidelines. could hedge funds end up taking this market higher? answers today, 4:00 p.m. eastern time. >> but first, here's where the action is on the street today. the most heavily traded stocks at the nyse, led once again by citigroup and b of a. cit also on the list, up today. back in a moment. announcer: the perfect hotwire getaway-- shop till you drop, relax by the pool at a four-star hotel for a two-star price from hotwire.com. when hotels have unsold rooms, they use hotwire to fill them... so you get them at prices lower than any other travel site, guaranteed. like four stars in chica

the virginia tech families have taken their fight against this proposal to the newspapers. this is the full-page ad that appeared today in the "richmond times dispatch." the appeal is to webb and warner to defeat the cocealed weapons amendment which is attached to the defense authorization act sailing through the senate. it was paid for by 30 families of the victims of the virginia tech killings. >> we don't want anyone here or anywhere else in the country to go through what we've gone through. >> peter continues to mourn the death of his daughter shot to death along with others on the virginia tech campus when a fellow student opened fire in two buildings. a stone memorializing her sits under a tree in their front ya. he said this amendment named after its author, south dakota senator john thune -- >> would allow nonvirginiaians to get permits from states that have easier standards than we have. >> senator thune told the associated press -- "my legislation respects individual state firearm laws." >> in my mind it is dangerous because it allows people who pass the equivalen

in general, the techs doing fairly well. also, these reports that mazda as well as toyota may collaborate when it comes to hybrids. that's toyota may supply mazda with core spoents for their hybrid cars in 2013, also supporting the autos, especially mazda which was up 3.2%. the xossy closing at 1430 to lcd panels were in focus. coming in at 238 net profit, you're seeing strong demand for tvs in china. in fact, they're considering building a panel plat in china, saying that glass shortage had something to do with their positive profits. on that note, it's over to scott in the u.s. >> saijal, it is yet another busy day for both data and on the economy today, weekly jobless claims are out at 8:30 a.m. new york time, forecast to drop by 52,000 to a total of 513,000. at 10:00 a.m., the july philly fed survey of regional business and manufacturing conditions will be released. then at 1:00 p.m., the national hoeshgz of home builders puts out its index. we get numbers from the likes of harley davidson and marriott from the bell and

if your financial sector is recovering, it helps tech and can do more business taking tech stocks publicsomething, i don't know. >> financials are certainly coming back. let me give you same example. bank of america a stock i think will triple from the current level over the next couple of years, they had this year or think they had $55 billion in loan losses. on a normal year, with the economy expanding, it's 6 to $8 billion. if you subtract that, you have $47 billion in loan losses that will come back to pretax income. that will cause the earnings of the company to quadruple. because there's more shares outstanding, we think the stock will triple. the stock is selling somewhere around 13 to $14 right now. >> dick, are you at all worried about the old obama backlash again against wall street and banks. >> it's critical it doesn't happen. if these new proposals are put into place mr. obama has sent to the congress, it will certainly hurt the financial sector and hurt the united states, in my view. the fact is loan losses will still come down. when they come down, we will see the earnings

we'll take a broader look at the tech sector and what those companies say about the outlook for the economy. >> there are just too many carriers chasing too few passengers and the industry has to shrink. >> suzanne: but getting smaller may not be the only option. the future of domestic airlines in a turbulent economy. >> paul: i'm paul kangas. >> suzanne: and i'm suzanne pratt. susie gharib is off tonight. this is "nightly business report" for monday, july 20. "nightly business report" is made possible by: this program was made possible by contributions to your pbs station from viewers like you. thank you. >> suzanne: good evening everyone. it's rare when a financial services stock surges nearly 80% in one day. but that was the case for c.i.t. group today on reports it has found a way back from the brink of bankruptcy. dow jones says c.i.t. bondholders have agreed to rescue the century old commercial finance firm with a $3-billion loan. much of the money will be available immediately. and c.i.t. reportedly would be able to restructure outside of a bankruptcy. c.i.t. lends to mostly small an

tech is the other to focus on if you look at one other as the market is trying to see whether tech which has led any kind of a rally can sustain that sort of leadership. you will hear from intel and ibm and google and the tech comes after the close. two other key com ponens, ge and our parent will also be reporting this week. finance, industrial, health care. you will get all of that from ge on friday. meredith whitney talked about earnings, but the most interesting thing she said about the economy was on unemployment. here's her prediction. >> unemployment continues to drive higher and the banks are not prepared for double-digit unemployment. that won't go away for the next year and a half. >> the action trader along with brian kelly, good to have both of you with us. let's start off with meredith's prediction that obviously is higher than what a lot of people are publicly saying, perhaps not a shock to anyone to think of unemployment to 13 percent per or higher. is there a trade that it goes there or worse in. >> yes, there is. my unemployment trade is your water company. you can debat

a lot of the tech stocks right now fall into that. apple might be one of them being up so much. >> what do you do with that? >> it comes down to how many mac sales. everybody moved the estimates up to 2.5 million. this stock has more room to the upside. i like it right now. i can tell you this the options markets, they're pricing a small move and a volatility is the lowest i have seen in apple in a really long time. so anyone wanting to own apple, buy puts to protect yourself. >> that is partly what concerns me about apple is the fact that people are not ready to pop this thing. >> more "fast money" next. popul. right now, 1.5 million people are on a conference call. 750,000 wish they weren't. - ( phones chirping ) - construction workers are making 244,000 nextel direct connect calls. 1 million people are responding to an email. - 151 accidentally hit "reply all." - ( foghorn blows ) that's happening now. america's most dependable 3g network bringing you the first wireless 4g network. - sprint. the now network. - ( whoosh sound ) deaf

that has really washed over the rest of the tech sector.e've got in particular the chip sector doing very well. chip equipment stocks are doing well. applied material up 5%. altera which reported earlier is doing up. the intel effect goes on to the hardware players, and microsoft as well. they're all seeing some very nice gains today. intel talking a bit about its communications chip.p. and we also saw a couple of stocks move on an initiation to a buy. the buy signal there on cisco and juniper over at citi. a good day for that. they get a nice move on that.. the one area of transports that doesn't look so good, the trucking.. j.b. hunt reported and said pricing continues to be a pressure point for them despite the fact that they are seeing a little bit of easing when it comes to fuel costs. you can see all the truckers trading to the down side. of course the big thing everyone's going to be watching for coming back out to the board is google. google reports tomorrow. one trader telling me today intel brought in some buyers this morning, the

this high tech device does all the mixing and pouring for you. the new machines can deliver about 100 different soda beverages. coke is calling the new coca-cola freestyle, the ipod of drinking machines. the new self-serve fountains have been in development for nearly four years. michelle? >> i heard the competitors were trying to get inside the machine to figure out xwexactly how it works. that is so cool. >> it is cool. they're going to have a wider release across the country later on this year. >> claire leka in new york. as always, thanks. >>> just ahead on the morning news, south carolina governor mark sanford hits the road again. >>> plus caught on tape. that train wreck in san francisco that injured dozens over the weekend. women's 2o. the first complete women's multivitamin in a drink mix. with more calcium and vitamin d... to support bone and breast health... while helping you hydrate. one a day women's 2o. refreshingly healthy. it can be tough living with copd... but i try not to let it slow me down. i go down to the pool for a swim...

the gunman opened fire at virginia tech. this stone sits under a tree and memorializes his daughter. this amendment -- >> would allow virginians to get permits from states that easier standards than we have. >> senator thune said my legislation enables citizens to protect themselves. >> it is extremely dangerous because it allows people have the -- who passed it equivalence to get a concealed weapons permit and come to virgia with a weapon. >>> we are told the senate will take up the defense appropriations bill that this amendment is attached to later this afternoon. >>> more problems for metro. another metro employee has been reprimanded for inappropriate behavior. an employee took a picture of a metro bus driver reading while behind the wheel. it happened last week pleasant walt the boss was at a stop light. metro has instituted a zero tolerance policy that calls for any operator to be fired if using a cell phone while driving. >>> now for a look at business headlines. >> good morning. after a powerful rally, things may be

of course, the tech-heavy taex loss 1.7%. rio has been in the news and came out with their production numbers. iron ore output, 8% year over year. but you saw a big jump quarterly where we saw a 43% rise to 45 million tons, widely beating expectations. those shares closing up 2% in australia and extending a rally in london. currently up 2.8%. now over to scott in the u.s. good morning, scott. good morning, saijal. thanks. june cpi is out at 8:30 a.m. new york time. consumer prices are forecast to rise .6%. while the core ppi is seen edging up by 0.1%. at 9:15 a.m., june industrial production will be released, expected to decline by on 0.7%. at 2:00 p.m., we'll get the fomc minutes. just a few companies reporting today including abbot labs, amr corp., gannett and cintas. and that is your global stock watch. >> coming up on "worldwide exchange," china's foreign exchange reserves top $2 trillion for the first time. is this a sign that capital is beginning to flow back into the country? >> we'll find out. plus we've got unemploym

i'm picking winners in tech financials and naming names. also, things get in the way of an even bigger comeback, how about a 57% tax rate on the highest earnings in wall street in new york city? yikes, guess who's behind that? >>> wait until you see harry potter and his hogwart friends. and big numbers on the s&p today. we're back in two. that leaves fewer pieces behind? fortunately, there's charmin ultra strong. its diamondweave texture is soft and more durable, so compared to the ultra rippled brand, it holds up better. fewer pieces left behind. charmin ultra strong. in a long line of amazing performance machines. this is the new e-coupe. this is mercedes-benz. has the fastest serve in the history of professional tennis. so i've come to this court to challenge his speed. ...on the internet. i'll be using the 3g at&t laptopconnect card. he won't so i can book travel plans faster, check my account balances faster. all on the go. i'm bill kurtis and i'm faster than andy roddick. (announcer) "switch to the nations fastest 3g network" >>> funn

for more information, log onto the tech page at abcnews.com. those are your tech bytes. i'm jeremy hubbard. >>> 5:21, 74 degrees. 're talking redskins' training camp under way. later today on "oprah," ride along with lisa ling as they accompany police on a mission to bust a child pornography ring. imams dirty home after eight years in jail. >>> welcome back. 5:24. this is a live look at on pennsylvania avenue. we do have some breezes that is breaking up moisture and humidity. we will see more about that with traffic and weather. 9 -- now it is time for sports. >>> you know fall cannot be too far away. it was 90 degrees yesterday. high humidity and scorching heat did not stop the enthusiasm. no serious injuries. jason campbell was the focal point. he took it in stride. >> i am competing against myself and i will let it all hang out. there is no reason to just sit around and put pressure there. my goal is to have fun and enjoy this game. >> enjoy it, but hold on. there was little controversy. after the first practice, clinton portis jumped right in to clear the air about a

reporter: so far so good fo inveors in tech stocks. early seconduarter earnings nuers are good, but there remain many questions r the weeks ahea last week, int had an encouragingly llish forecast looking ahead to the sond half. but the semicondtor sector needs see confirmation from texas instruments, a, sandisk and brdcom. en it comes to hardware, del is falling way bind its rivals. one of them,bm, raised its ouook for the year, but it said the economic envinment remains tough. analyst thomas smith ostandard and poor says i.b.m. and wlett packard are the stocks to watch here. >> both thoscompanies have dirsified into services and through thisownturn their nishment on the revenue line if you will, haseen less severe than i think it might have been had theyot been diversifng over the last five years anthat's helped steady their ships anthey now look like strong strategic modethat working prty well. >>eporter: two other tech giants report this wee apple tomorrow and microso on thursday. analysts s investors need to focus more on what thes

for more information, log onto the tech page at abcnews.c. those are your tech bytes. i'm jeremy hubbard. >>> 5:21, 71 degrees. the nationals now dropped an astonishing 40 games below .500. we will talk about last night's game with the mets. and later today on "oprah," dr. oz is in the house with the science of looking anfeeling beautiful. that is today at 4:00. >>> welcome back. 5:24 on this tuesday. no rain falling right now. there is the possibility of that happening as the day progresses. now it is time for sports. >>> the nationals lost to the mets again last night. jim riggleman continues to look for his first win as manager. the frustration grows. the results are the same after firing the general manager and the skipper. one-year-old new york. here is a shot to deep left field. --1-0 new york. trying to rally. this goes to right field. adam dunn scored easily. here comes the throat. he is in there safely. 5-2. bottom of the eighth. first and second with zero outs. look out. three-six-one. the nationals loose again. there is a look at your sports. have areat day.

a lot of the tech stocks right now fall into that. apple might be one of them being up so much. >> what do you do with that? >> it comes down to how many mac sales. everybody moved the estimates up to 2.5 million. this stock has more room to the upside. i like it right now. i can tell you this the options markets, they're pricing a small move and a volatility is the lowest i have seen in apple in a really long time. so anyone wanting to own apple, buy puts to protect yourself. >> that is partly what concerns me about apple is the fact that people are not ready to pop this thing. >> more "fast money" next. healthy hair is soft, silky. and you can get it. fabulous, healthy hair. all you need is pantene. salon names and fancy packaging are nice, but you don't need it. even experts agree. it's damage protection results leading salon brands can't beat. trust me on this, the blow dryer, the curling iron, and the flat iron, and my hair's still shiny. pantene moisture renewal. healthy makes is happen. hi, may i help you? yeah, i'm looking for

let's go to new york for "tech bytes" with abc. >> reporter: in today's "tech bytes" -- traditional news still rule the web. a new study published in "the new york times" finds web sites for newspapers and broadcast news typically report on breaking news about two and a half hours before the blogs do. the researchers studied the news cycle from august through october of last year using powerful computers. one thing that really didn't come into play last fall, twitter which has quickly become an influential way of spreading news. >>> myspace used to promote itself as a place for friends but now hoping to become more of a place for entertainment. "the wall street journal" is reporting that the social network are site is going to put emphasis on music and videos in the coming months. that includes the expected addition of new features to transform its into an entertainment portal. myspace is already popular for bands to showcase music. >>> and if you think it's uncool to carry around a thumb drive with your important files now you can do it in style. calvin klein unveiled a new pair of sung

another huge week for tech earnings, tech instruments after the dow, am and yahoo! tomorrow, ebay and microsoft wednesday thursday to name a few. all the details coming up. >>> i'm cnbc pharmaceuticals reporter mike huckman and biopharma is starting the week on a very high note. two positive late-stage drug study results for two big areas of up met medical need have the shares of two companies jumping today. what it means for patients and, of course, for investors, coming up later. >> let's get to the market action right now. the dow jones industrial average up for the sixth straight day. the nasdaq and the s & p 500 on track for a sixth consecutive monthly gain. bob pisani at the new york stock exchange. earnings season this coming week help us with another gain? >>> it is, not just six straight days, michelle but breaking key levels, 945, s & p for the

they tried tech then energies, back to tech. tech is probably the only sector showing decent performance. keep in mind, even in intel, their revenue is about the same it was five years ago. i guess if you cut estimates far enough, somebody will jump over them, even the worst of companies and i guess that's what you're seeing for the second quarter. second quarter earnings will probably be down fairly substantially, and if you calculate it at the end, it will look better. the market is stuck with difficult economy and difficult profit picture in the united states. >> welcome to the program. i want to go to the same question, who's right, stocks or stats, with this mediocre retail sales quarter, spending is down. 1.6% rise in retail stocks, looking at a few retailers, radio shack up 3.5%, office depot, up, macy's up 3.5%. what do you make of it? stocks or stats. >> stocks are confirming what we already knew, this is a period the economy will continue to struggle along. we have two big overhangs, consumer with a huge debt burden st