out on the line the p 50 ones are warming up for the longest fight -- the p-50 ones -- p-51s are warmingp for the longest flight on record. about the time our wings are passing iwo jima the p shooters are taking off. scheduled to join them 3.5 hours later off the shore of japan. after a rendezvous, the p 51 heads for an assembly point. reports of the controller back at guam -- >> pilot to crew. we are to start our climb. check oxygen equipment. >> tell buggy he better get out to his doghouse. >> the crews prepare for the vital business ahead. until they come off target and head home it is all business. the central fire control system is warmed up. super human brainpower at the flick of a switch. each flexes his sites and tries a coordinated fire control with a few short bursts to clear the guns. after pushing up the bombers arrive close to assembly point. oxygen masks are adjusted and ready for instant use. which now turn off to wait for the finest return on rally point. lead bombers begin to circle, dropping the new smoke markers for assembly. the project officer observes this tactical

what he is saying about the presidential candidate. p&-phot air balloon disaster in u.s.&-phistory.&-pc-b-s reporter omar villafranca &-pshows us: &-pinvestigators are piecing &-ptogether evidence from the&-pscene.&-p&-pscorched earth marks the spot &-pwhere 16 people died when a hot &-pair balloon crashed near austin &-ptexas saturday. &-pa large ntsb team is&-pinvestigating but they say its&-ptoo early to determine what went&-pwrong.&-p(sot robert sumwalt, ntsb)&-pwe look at three things, the&-phuman, the machine and the&-penvironment. (nats) &-pa co-worker identified the&-pballoon )s pilot as 49 year-old&-pskip nichols. &-psteve brudniak recorded video &-pfrom a previous flight above the&-pclouds; he )s flown with&-pnichols twice before. (sot steve&-pbrudniak, hot &-pair balloon passenger)&-pthe balloon operator can pretty &-p&-p&-p&-pmuch only go up or down. there )s&-pa few things he can pull to kind&-pof spin the balloon. bru

energy and staples are outperforming in the s&p. t the best performing stock right now is nordstrom. this after the company's earnings beat wall street estimates. thanks to a smaller than expected decline in same-store sales continuing a pattern, bill. >> yeah. yesterday we talked about the possible resurgence of retail. is that story line holding today? courtney reagan wraps it up and steve liesman with the new data of this morning. let's start with courtney. >> jcpenney is getting there and still a long way to go. the retailer posting a loss and both smaller than expected and a fraction of last year's loss. sales a little light and comparable sales still positive. remember, it's rebuilding back those big plunges we saw under the former ceo's failed transformation and then the reversal and reiterating full-year guidance. they like the strength driven by regular priced selling at jcpenney. margins, though, only improving 10 basis points. updates to the center core where the accessories are sold and home of the appliance rollout stron

stocks edging higher, putting the s&p 500 on track or another new record. corporate earnings are lifting health care and tech shares. oliver: a big one we are watching after the bill is disney. all profits be crimped by lackluster shanghai opening? while eisner -- bob eisner will join bloomberg tv later. scarlet: halfway through the u.s. trading day. julie hyman has been tracking the moves and after it caused, yesterday, it looks like the s&p could be making another record. the dow not quite there, but also major averages are up, will not being used gains on a daily basis, but enough to put stocks at fresh records and this is the song i've been singing. the s&p 500 going back to july, that is when we began this run of records we have seen. we have also been tracking by how little the s&p 500 has been moving on a intraday basis. this is the 22nd straight session in which the s&p 500 has not moved at least 1% by the close unless something crazy happens before the end of the day. it does have to do with earnings as companies like and a pharmaceutical as well as

it was the ninth record close for the s&p this year. the eighth for the dow and that's something that would have seemed almost impossible this year got off to their worst start ever. despite the small move, stocks remain near all time thighs. the doo 18,576. nasdaq added four and s&p 500 dropped one and for the week, all the major indexes eked out smal the small moves fool you. our next guest says therrewardi. paul, you've been a lifelong bull. has anything you've seen lately changed your point of view? >> absolutely noe brexit low in early july, just added more confirmatie february bottom. that this bull u market has been rejuvenated. 2014 and '15 were pause years, but this is a brand-new refreshed, recharged bull market and as i've been saying since 2010, it's not going to end until we get to a minimum of dow 20,000. probably in the first quarter of 2017. >> now, there are those out me merging marxes and some developed countries that could put a haltadvanc yo disagree that. >> yes, sue, a lot of the issues that the bears have been hung

on the s&p 500 have hit their new 52-week highs. scarlet: nordstrom's numbers have just crossed. let's start with adjusted earnings per share, $.67 was higher than the anticipated seven cents. you'retop line, if looking at the revenue reported, $3.65 billion a bit shy of what analysts were looking for. nordstrom getting it done on the bottom line but not for the top line. sales in terms of comparable sales, that's where the company missed. revenue, that's for the company missed but in terms of comparable sales, total company comps, that was down 1.2%. comparable sales beat, but the actual revenue line missed. joe: stocks surging over 10%. comps, the full price out let down 2%. the estimate was down for 5.8%. nordstromlso, affirming net and comparable sales. it's not downgrading its outlook either, which is a relief to investors given what we saw last quarter with the retailers reporting. joe: seem similar to macy's. so much pessimism had been built up. all you need to do is have less bad and reaffirm the status quo. scarlet: nordstro

stocks from record highs, at least the s&p and nasdaq. the biggest drop in one week for the s&p.g lower, financials and

this chart is normalized relative to the s&p 500. lagging behind the s&p 500 by 2.9 percentage points. the chart takes it all the way back to 2013. the report today shows consumer spending rose. discretionary shares are the worst performer of 10 groups. i just thought it was interesting to highlight that. matt: i guess bmw is a consumer stock, right? , the sevenok at bmw series versus the s class. hear what you see in yellow, the series, their flagship sedan, sales were basically in line with that of es class in 2012 and 2013. then in 2014, s class took off because mercedes introduced a two door version, very slick, and a number of other areas. bmw stuck with the same old four-door seven series. now in an attempt to fight off the tesla model s which is almost caught up with the s , whichnd the audi a8 will become self driving, bmw is going to make a two door version of the 7 series. 733 of thee if the early 1980's was a two door but i cannot recall seeing a two door7 series. so this is a big deal. joe: another big deal is the fed. jus

the s&p losing 13 points. mberg. ♪ ♪ scarlet: we are moments away from the closing bell. joe: i am joe weisenthal. "what'd you miss?" miller.am matt ♪ scarlet: u.s. stocks closing lower. joe: the question is "what'd you miss?" scarlet: hp earnings in minutes. economy,peninsula silicon valley's growth adding jobs at more than double the national average. matt: turkey begins a major offensive in syria. blackrock says politics in turkey are more stable than understood. scarlet: we begin with market minutes, the worst they for the s&p 500 in three weeks. mores not risen or fallen than 1% and 33 days. matt: the range of 0.72%. o

the s&p and nasdaq up one. . ♪ [announcer] is it a force of nature? or a sales event? the summer of audi sales event is here. get up to a $5,000 bonus on select audi models. nicole: the latest in sports, the best female gymnast in the world nails it, turned in a spectacular performance to win the all-around metal, joining three other americans, her parents get excited watching her. michael phelps won 22nd career gold-medal and fourth of the rio olympics in the 200 m individual medley. american teammate did not even win a medal, he finished in fifth place, another goal tonight in the 100 m butterfly. ryan murky completed the action in the 200 m last night in rio, second goal of the olympics, the us has not lost men backstroke final at the limbic since 1992. simon manual tied for a goal in the freestyle with a 16-year-old, the first african american woman to win an olympic gold medal in swimming. in the middle count this is where we stand, the united states leads with 38, japan 22. 6 games take off the preseason s

flat, if the dollar is earnings should be up 4% or 5%. s&p, so at 2044 on the a single digit gain would he in the offing and that has been our view. take ithat might further? what needs to happen to get the s&p even farther up and it is now? are going to have to see some fiscal policy because the central banks are beleaguered. some of them are almost out of let's. we have to get through the concerns like high-quality collateral concerns and there are structural issues that have never been resolved like the eu's lack of a transfer union. how will the central banks go about exiting their central policy of negative interest rates, we just don't know. there's a lot of political uncertainty, so we need to get some clarity there. >> you have a flattening yield curve now that is good for utilities and dividend proxies. what sectors do you need to rotate into? on the shortft off and would not occur until we have some traction on the long end and that would help financials. likes siliconiary valley bank corp. for asset sensitivity and invesco for thei

we note that the s&p 500 is hovering near record highs, but you can really see the tight range that the s&p has been confined to over the last 12 days. i highlighted the range, and most of the s&p 500 moved during this yellow banded period, june 14, 11 points, .5%. since then the moves have been smaller than that. joe: it has been remarkably quiet and dull in equity land. scarlet: after this week you don't have central banks providing any direction for the market. oliver: you have to wonder which way that spring and coils when it does. -- uncoils when it does. scarlet: i like that imagery come oliver. oliver: i'm looking at valuation, speaking of stocks. basically a few -- kind of off the beaten path types of evaluations. the blue line is priced trailing earnings. the white line is priced to e bidta. purple is crude oil as well. in particular i want to point ebitda. -- ebidta.-- when you think about regular pe's you have the big share count element as well. measurementlar the highestitda is ever, and the ratio of 11.3, pre-dot-com bust era that has not been reached in 16 years. interest

[gunfire] with the big bombers homeward bound, our p-51's drop down for strafing runs. trating on objectives from here to the enemy coast. skimming along get maximum speed, they go to work cutting vital jap flight lines, blasting communications, radio installations, power lines. [gunfire] swooping down on enemy transportation, railroads, small factories. [gunfire] narrator: and airfields. [gunfire] then onto shipping targets, freighter, fishermen, trawlers, harbor and coastal craft, destroyer or lugger, it is the same enemy. [gunfire] after strafing, the fighters go back to the rally point. in the waiting navigator planes. fuel gauges are down close to empty. but fighters spirits begin to rise. they wind up and finish with kicking speed. once over for each enemy killed. after the last fighter groups are in, all hands sweat in the first limping b-29's. that runway is a beautiful site, as they letdown with engines out, low on gas or beat up by flak and fighters. in three months, nearly 2000 crippled or gas-shy b-29's haven here. you can understand by the blessed the marine

we see the s&p 500 trading at a narrow range. very low volume. what will it take to get out of this drip? >> it's already been trying to break out in a fortunately some of the catalyst that might cause itbre of the circumstances we see in other parts of the market. bond yields very low. that has continued to drive the markets higher. >> more than 11% of the gains for the fund. what will you do now? will you hold on to the holdings that make up your top 10? is wewill in part of that are not looking to trade dramatically around particular names. we are trying to find those companies that can have high return on capital. as long as they are doing that we think that's a terrific way to generate long-term value in long-term value creation for your share others. all actually producing relatively strong fundamentals. >> you are pretty constructive on the market outlook near-term that one of the reasons for that was a better forecast for earnings and now we are hearing we could see another decline for the sixth a. how is that affecting your view of what t

for the s&p 2785 and for the nasdaq 5232.are -- any positive close for the nasdaq is another new record high here. >> how about twitter? it's jumping on a report it's in talks with apple tv to enable users to watch nfl games on the apple tv. twitter shares above $20, a level they haven't closed above since january. julia boorstin has more on this for us now. >> reporter: shares up 6.5% and they were up as much as 8% earlier today thanks to "the new york times" report that twitter's in talks to bring the app to apple tv. now, neither twitter or apple would comment but investors think that this kind of deal could lead to new users watching twitter's live streaming content, particularly the ten nfl games twitter will stream this season. the nfl had nothing to say, no comment here. this, though, would allow twitter users to stream those ten nfl games twitter's broadcasting directly to the tv set but twitter and apple wouldn't need that deal because apple tv already allows users to mirror on the ios device or computer to the tv se

stocks from record highs, at least the s&p and nasdaq. the biggest drop in one week for the s&p. have not seen big moves. six out of 10 groups finishing lower, financials and energy laggards, wti declines 3%. joe: consumer staples and telecom leading the way, classic defensive sectors. matt: some individual stocks moving down. bank stocks taking a hit. pretty decent losses for heavily weighted stocks. right aid rose the most this year, up 6%. point 25% after earnings yesterday, initially down, then coming back today. up, at 13%, massive move least four analysts have upgraded yelp. some interesting things in the government bond market, particularly u.k., new lows on the 10 year yield, but action as the boe has trouble with its reverse auctions, not enough bids. better, but all time lows in 10 year yields. i want to go into the bloomberg to talk about mongolia. bondis a mongolian euro that matures in 2022. that is higher rates on a government bond. they said we are running out of money, major crisis. i think investors have forgotten that interest rates can go up and there is sovere

exactly the same as the s&p foreign energy. so again, playing for some convergence of these two lines. the blue line is going to go the way of the orange to some extent. so, a couple of other charts, this is the actual etf in relation to its price. it's farther above trend than the last six years. just to put this in context, it goes back to the higher bull market high in '07. this ricochet now steeper than the one coming off of the '09 final crisis low. that's incredible. and at this point, this is about where you get pullbacks. we haven't had that yet. another thing to look at is in terms of retracement. this low is 12. this 78. a $66 move. 25% takes you to where we closed today at 28.50. a quarter of the move and you can draw your lines like that. you could draw them like that, but either way, your difficult level, it's a crowded space, looks a lot like certain energy stocks did before the whole thing came apart. >> what is the risk to the downside and what level do we need to hold in order to avoid that? >> you can get thing

the s&p 500 is down .3%. i and with the nasdaq down .2%. doolittle is at the nasdaq with more. go: we have the nasdaq fluctuating between's -- abigail: we have the nasdaq fluctuating. up 20%.re aboved $.50 in cash, well the initial offer back in april. the shareholders are probably pretty happy about her. these are all biotech stocks here for the nasdaq. on thethese stocks scarcity. similar andis very could come with a big price tag. a rare disease company. it could fit very well but however, what is interesting is it does not have it modeled to break even until fiscal year 2018. investors and companies may be willing to pay up for that. this is actually not m&a, it is more special it -- speculation. people saying they could be bought in the price probably coming somewhere around 23-20 four dollars per share. the stock is already up 46% this year. $23 per share suggests the stock could move up by 20% from the current levels. the japanese rival, diversification, industrial and consumer and auto save haven. >> nina has more from the newsroom.

the s&p 500 is trying to eat out at again for august. wn any merger rumors saying that he says the bank needs to actually get smaller. there were reports that deutsche bank could buy commerzbank. said longer-term, it for the german bank. interactive intelligence is getting a bit with $60.50 per share. they both provide software and services to call centers. bob evans is a country restaurant chain and it's raising its full-year forecast by a nickel. comps sales in august were down just 2% which was better than many had suspected and consoles bythe last quarter were down 4.3%. it was their sixth straight quarterly earnings beat within the space. that stock is up in premarket as well. : it seems as if we are holding on to gains in the stoxx 600. deutsche bank has popped up. the ftse is under as miners are feeling the pain. the dax is slightly down. cac40 was up. up strike --ere slightly stronger than expected. said lookout for 1% on your yield handle. is down 1.3% but it had a stellar month in terms of a rally and gold futures are down 1%./1

the dow and s&p finishing marginally higher. dropis after an unexpected in productivity that had economist wondering how much of this is cyclical versus structural or. the extraordinary colma of this market continues. -- calm of this market continues. a lot of people see the very excess of measure of fear. it is the fear index. level it has to a not been this low since 2014. i rolled my eyes. a lot of people don't understand what it is telling us. it is a short term fear an index. it's the cost of buying protection against s&p downside. i wanted to point out some stocks we are watching. take a look at the gap, gap tumbling, really concerned about traffic in july, same-store sales in july drop 4%. , down him a 7% after norwegian cruise lines cut its forecasts. 3%, mylan of also seeing a 3% gain. governmentk look at bond markets, yields down, nothing to germanic, but continues a trend of stocks up the same day as treasuries up, so when treasuries are up, yields down, 1.54. the pound had been trading in a tight range, off a low one

after a rendezvous, the p-51's heads for an assembly point. d by b-29's designated as navigator ships. they grind ahead on the last lap to the empire. reports of the controller back at guam give their flight condition which is kept up to the hour on the mission board. thel in love altitude b-29's are approaching the bad weather built where 100 reported storms and cold fronts appear suddenly across the course. >> pilot to crew. we are to start our climb. check oxygen equipment. >> tell book -- buck he better get out his doghouse. narrator the crews prepare for : the vital business ahead. until they come off target and head home it is all business. the central fire control system is warmed up. superhuman brainpower at the flick of a switch. each gunner flexes his sites and tries a coordinated fire control with a few short bursts to clear the guns. after pushing up to altitude the bombers arrive close to assembly point. air in the pressurized cabin is comparable to 8000 feet, but oxygen masks are adjusted and ready for instant use. from the southe

versus the s&p, the blue line.decline in march and the economic surprise, you saw a decline in the s&p. subsequently, back in june, you did see and other decline in the s&p. we are starting to see another rollover of the surprise index yet snp is that record levels. so the data keeps his appointing, will that feed through into stocks. to do withe has fundamentals. the white line is enough percentage of banks that are tightening lending standards and the orange line are delinquencies that we have seen for loans. the number of companies that are now looking at tightening aboverds has increased to 0%. the axis line is over here. it has been increasing and the default rate has been picking above up, 1.5 percent. fundamentally, the default question we have been hearing in ae high deals market, this is highlight of three things that they say in their notes. if we keep seeing default when you have so much money in the investment-grade markets, what happens when the faults are triggered? what kind of washout? jonathan: and

>> i think that the s&p 500 will gradually continue to creep higher. 's anticipating next year's earning. this year earnings will be flat to minus 1. so this year, the fundamentals are not as good. but the market is anticipating it. >>> anthony, great to have you with us. anthony chan of jpmorgan chase. around about 20 seconds ago. that's the top of the agenda. >> china trade data. seeing how market responds and inflation tomorrow. >> oil prices dip below. but positive territory today. that's it for worldwide exchange. "squawk box" is next. >>> happy monday. opec members call for an out put frooz. reaction to the market -- deal news. walmart set to buy jet retailer. or retailer jet.com for $3 billion. we have an announcement expected today. business travelers, listen up. delta airlines suffering a worldwide computer outage and flights around the world are grounded. monday, august 8 pt, 2016. first week of the olympics is under way. i'm celebrating as you can tell. "squawk box" begins right now. >>> live from new york where business never sleeps, this is

the plane vanilla s&p 500 -- the vanilla s&p 500 sunk and they had bond returns down 10%, 30% and theyaid, oh, i need alternative exposures. that was the right call. post crisis, it would have been hard to produce an alternative return. but now, don't let the idea of diversification fadeaway. that is still a relevant call. when you have yields at all-time lows and stocks turning to new highs, you want to be aware of that and make sure diversification is live and well in your portfolio. david: you are talking about going out month, years, as is going back decades. i love this chart. this was originally produced by rick wake at lake partners and we re-created it. is a sharp ratio? it gives you a sense of how much return am i getting for each unit of risk. historically if you can get to a level of one, that return is very good, very good. ratios back at sharp over 30 years, you can see a plain-vanilla investment in the index isaggregate giving you a sharp ratio of 10 over seven. what you can see from that chart is, the last five or six years, we have been well beyond that. we have had sha

the 10 p-m emergency curfew enforcement in the city of milwaukee has been lifted. but teens under 17 are still required to be home by ten during summer things have stablized in the sherman park area and nt the police department -- the religious goups, the neighborhood groups but most of all to the residents of sherman park who've really stepped up and said that hey, this is our neighborhood and we want this to be a good neighborhood, its been an amazing response.the sheriff's office is still closing sherman park at six pm--. wisconsin governor scott walker says the national guard is no longer on standby because of the violence in sherman park.but he is ready to put them on standby again obviously if there was a need to arise to come back, i don't anticipate that. my hope would be that i would never have to call them up again for that, but we're at their disposal if there were another similar occurance for what happened last weekend. you'll find our ongoing coverage of the healing in sherman park on our website, t-m-com. the red cross is now helping out dozens of fa

and julius peppers can finally put the p-e-d allegations behind them.this afternoon we learned that the n-f-l cleared the packers in a release... the n-f-l says it found no credible evidence that eith player named in the al jazeera documentary were provided with or used banned substances.this comes after matthews and peppers were interviewed by the n-f-l last week in green bay... but the investigation has been going on since january.in this same release pittsburgh's james harrison was also cleared but former packer mike neal was not. the badgers open up their season in just three days.but time at lambeau field.back in april the team held a practice in green bay... that's when the badgers got to be players and fans. ((:29 ve been at lambeau football been at packers games. i'm a huge packers fan in general so it was fun for me to kind of go back stage go in the hall of fame, i haven't been there in a while so it was real a special moment for me.)) for the second time this month the brewes trying to snap a six-game losing streak.last night willy peralta pitched a 10-strikeout gem against t

down insee the dow is the s&p is down and the nasdaq is up .8% in august. let's move to oil and we can see a reversal. right now, oil is trading at or before and 71 is down 3.5% today. it began the month with its worst day. talk about symmetry there. 3.7%, stillown trading below $45 per barrel. oil is up 7% and it is the first monthly gain in the last three months. exxon is down about 1% and chevron is down about 1%. given the move in oil. a look at some stocks on the move. going tosaid it was stop or at least try to stop any are merger acquisition they thinking of doing with monsanto. both stocks are down today. we will move to the first word news. mark crumpton has that from our newsroom in new york. mark: thank you. donald trump has landed in mexico city and the flight touch down a few minutes ago. with theeduled to meet mexican president, at the official residence of the mexican president. comes as a surprise. the u.s. state department says only this secret service was aware of the planning. arizonamp flies to where he will lay out his plan on immigrati

the p hawks were fired up for this one. the first quarter they get tricky. dakota simonsen is pushed out after a 28 yard gain and that would set this up. simonsen throws a dime to levi asher streaking into the end zone. warriors would answer. washington ties it up. go on to win 27-14. >> lynn moore and city high going out in the first round playoff game. liens on the prowl. reese phillips drops back and connects with josh gassman for a big gain. city high would answer. yards. liens try to retake the lead but vance dylan says i will take that. city high will go on to win 26- 6. -- he pops the ball up and dlyan dole is their for the pick -- then later in the quarter -- matt huff on the run -- he's a sprinter -- and shows why there -- and that would set up this - evan filtz pass to oliver martin -- he caught 2 td passes and threw another -- west rolls -- 42 to 17. back up 3-80 -- to kingston stadium -- jefferson taking on pleasant valleytrailing in the fourth quarter -- jefferson q-b dylan hart keeps it himself-- to the far sideline he goes -- but just short of

the s&p market, the record closed on the s&p 500 and the nasdaq, futures positive in the united statesd the mainland payroll rally continues. it is risk-on. here we are in the other asset class. a weaker yen and yields creeping up. ♪ hohey s w'oiit ghong, estcak ?hoestcak .th lais p hceotaske hyso wn' aret't eyllg lica? cwithstomcain business rntean fid wi, pro cey bould e.ju ddst aus a czetomid eyllg lica? age y towiour rofi pas splgeh pa an u'd yo 'll yeastr cusomerer wheie thesr ey a aredylrea -ju ddst aus a czetomid eyllg lica? age on dheiresevic pas splgeh pa .or upder . 'its hare tstn jui, wif c itelan howp grr younebusiss. u y'don'e t se ethat dveryay odintrg ucin pwifiwiro, fi hthatelyorow usur bs.ines ascomct .ness t builbufor sssine positive with three days of gains and a record high on the s&p 500. futures up by three points, dow futures up by 31. the dax continues up six tens of 1% as you hear the opening bell in new york city. of repricing of the treasury curve after yesterday's or fridays blowout jobs report rather. the dollar yen capturing that risk sentiment. three quar

it knocks him onto the p floor. his wife scrambles out to help him and get the kids in the house, as well. tim says he doesn't remember much except for a white light and a feeling of heat. glad to report he's going to be okay. >>> and authorities have a theory about what caused the chaos at jfk airport sunday night. passengers may have been confused by celebrations for sprinter usain bolt who won in rio. they may have confused those celebrations with gunfire. that caused some people to run away from the commotion and eventually evacuate the entire airport. no witnesses ever reported with a gun. >>> a texas resident who traveled to miami has been diagnosed with the zika virus. it is the first time the virus has spread from one u.s. state to another. an area of miami currently has 30 cases of zika spread from local mosquitoes, but there's been no local spread so far in texas. >>> the market opens this morning in record territory once again. all three major u.s. indices closed at record highs dues to largely spikes in o

and you get it half the price to book versus the s&p. we think the reach for yield will push through into hong kong now and a gain the stock market should do quite well. jonathan: beyond that chart, we've had some upside, 5% so far year-to-date. but your call isn't based on the dividend yield. it's the fact that a lot of the companies have cut cap ex aggressively. sean: so the equity markets has been when companies run for survival, just push cash flow as much as possible, cut cap x, try to protect the differents and we've seen that in some of the chinese companies and that's a pretty good time go back to revisit equity markets. alix: you like broader e.m. as well. so does everybody else. is there a danger of overcrowding? sean: e.m. has had a much better scal and monetary -- and having taken rates up in places like russia and brazil. the good news is the inflation rates have been rolling over. so we've had really good performance out of indonesia and there's room in russia and brazil. jonathan: here's the story for me. brazil, an impeach

the m-p-s educators will be greeted by the superintendent... the mayor... even the milwaukee drumlines from bay view high school and riverside high school will perform. so will cheerleaders from james madison academic campus and south division high school. m-p-s held a similar pep rally for teachers at its year-round facilities when those resumed earlier this month. district officials say the goal is to energize - and inspire - the teachers and staff as they begin a new school year. it gives them the chance to blow off the last of that summer steam. classes at all remaining m-p-s schools start thursday. coming up on live at daybreak on today's tmj4... paralympics in rio: a local boy is getting ready to compete. how young he is and what motivates him.and later: life on mars: adventurers lived like they were on the red planet, without ever leaving planet after a warm and humid saturday, the humidity is still here this morning with lows in the upper 60s and patchy fog. as many kids head back to school, it will be another warm day with highs in the lower 80s wi

is an update here records for the s&p and nasdaq. hitting a closing record today, the dow not quite there. even though the daily movements are higher, these continue to be small and they continue to happen even as profit growth continues to be negative. this is the latest report card on the early earnings season and we have sales growth. this is the current quarter. sales growth is projected. both of these are negative. we have had five straight quarters of declining sales and earnings. now suchestimates are that they are projecting a sixth straight quarter of declining growth. does that mean the s&p is going down? no, it means new records. we are watching media stocks today. saw though the companies some declining ad sales, digital ad sales were strong. sales beat estimates. charter communications also coming in ahead at 6.6%. disney is reporting we are going to be hearing shares just above a quarter of percent. the best performer in the s&p 500 is and no pharmaceuticals. pharmaceuticals. the company's estimates sales rising 25%. lea

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funds, the s&p is not the proper benchmark because hedge funds may only be 50% as opposed to the s&pnd hedge funds is a definition that includes everything. so there is some strategies that are bonds, there are some strategies that are stocks, there are some strategies that are currencies. so to use the word hedge funds to cover everything is just plain wrong. >> is the russell a better indicator? >> no. there is none. because i may only have 50% exposed so 50% of my exposure, they would be short the market and that is to protect the downside. in this unusual time with the central bank money, the market is going straight up. so i agree, hedge funds have been significant underperformers as an asset class. but also have long only -- mutual funds have seen just as much of a decline. actually more of a decline in assets under management going to passive funds and more than 80% of all long only managers have underperformed versus the s&p and they have no excuse because they are 100% invested for hedge funds that are 50% invested on average. so to me it seems like a bubble because it is un

the s&p mid cap and small cap indices are at historic highs. reme we didn't have far to go in the first place. the s&p 500 was never more than about 1% from an historic high in the past month, so in addition to the rally in a major indices, the rally is showing signs of classic rotation. in the last several week, technology and bio tech have been big market leaders. so names like microsoft have been str time, prior market leaders like utilities and telecom and consumer staples, they've been lagging. why the move up? today's job report is the immediate catalyst, but the rall di didn't start this morning. over hav okay. crude oil, which gave everyone a scare a week ago, is showing stability around $41 and third, there's a lot more talk of fiscal stimulus, not just monetary in the uk, europe and the u.s. at the new york stock exchange. >> for a second straight month, american employers d blockbuster job growth. 255,000 new workers added in july with june revised upward to 292,000. >> it sukts the econom more. >> more part time work rs found full ti

stock market futures, they are still up, the s&p and the nasdaq up now four days in a row. rning, nick oalg. nicole: we are watching oil today. there's some talk to opec could start the talks of freeze. we will leave it at that. oil 42.35 the barrel. gold pulls back and that's 13.36 a troy ounce. lauren: that get it is market moving sometimes. let's see the dollar. the canadian dollar and mexican peso versus the dollar, pound and the yen weakening versus the dollar today. nicole: better than expected job's report on friday helped the boost the markets and now people are looking to see whether or not the fed will raise rates. 1.58% for the yield. lauren: two big mattress companies coming together, acquiring the owner of sleep's for $2.4 billion, the deal would create the largest mattress company. it would also open the market up, u.s. market up which is based in cape town, south africa. nicolefacebook is using olympics to test snapchat filters and bigger push to videos. they saw a camera on the top of their news feed and options that include olympic filters, frames, masks, th

remember the average historical return for the s&p 500, the benchmark for u.s. stocks is 10% annually, which will let you double your money in a little more than seven years. so if you're under the age of 35 and you own a bunch of bonds with the idea that they will slowly but steadily make i money, i think you're being way too cautious. i know it puts me out there, but i've been around. that's how i file. even in your 401(k) and ira, you want to be heavily weighted toward stocks when you are young. allowing your gains to compound tax free year after year. but as you get older, owning treasuries, especially in your retirement fund becomes absolutely essential. because unlike the stock market when you can lose enormous amounts of money in a blink of an eye, bonds are save. you want to funnel into treasuries, ideally, you do that by putting your cash in a cheap bond fund. let's get down to brass tacks. precisely how much of your retirement portfolio should you keep in bonds versus stocks? that depends on how old you are. i don't think it should be until you turn 30

the dow, the s&p both hitting record highs intraday. getting a boost from positive retail earnings this morning and then after the bell tonight, we are going to get a read on high end when nordstrom reports, as well. >>> energy also a big part of the story powering higher today. to the floor of the nymex where it trades for what's behind the big move up. 4% on oil. >> i said my local gas station owner had the ladder out to change the price of the gasoline. doesn't take long. >>> donald trump and hillary clinton both have been talking about their economic plans today. we'll bring you details and get you the plan from a new candidate, independent evan mcmullin will join us live to talk about what he would do to create jobs in this economy. handle regulations, deal with national security issues. we'll talk the gamut of the policy issues of candidates these days. >> and what the chances areality this point. >>> check out shares of vail cent hit hard today on reports that the company is under criminal investigation. we'll have the details for

what is the next 10% move for the s&p 500? ill see what another analyst sees 9% downside risk, perhaps reaching 2000 for the s&p 500. we keep talking to people and people have totally different opinions of the market. what's behind the call? the s&p has exhibited a relatively odd behavior. look at the aftermath of brexit, it has decoupled itself from a lot of risky assets be at european or japanese equities or oil. these were important risk factors driving us last year. it has re-coupled itself with safe assets like gold. if you look beneath the surface, we have seen a decent amount of flow into u.s. equities coming from bond investors. you look at dividend type stocks in the u.s., they are at record valuations. inflows are coming from foreign investors because of political risks abroad. we have seen a decent amount of structural input from systematic strategies because leverage in equities has picked up on account of ultra low volatility. volatility has significantly underperformed. all of this has happened and there are expec

this is the p/e ratio of the euro stocks bank index.re the line goes, the more european banks are cheap relative to the stocks overall. we were talking to benjamin siegal, saying there are opportunities within some of the smaller banks, even though they look like a value traps. oliver: what sort of risk do you want to take on to get that rebound opportunity? when you look at the banking reakor, how does it b down? >> valuations are lower than they were in the depths of the global crisis, so they are cheap. they get split up along country lines, italian banks are risky. in core countries, germany is one of them, not all german banks are healthy, but in countries where you see more growth, it is less risky to pick up on some of these equities. joe: talk to us more about it early, the failure of supervisory mechanisms, what to dohe government need and how can they do it in the framework of the rules they have set up? isitaly's biggest problem they are all sinking under nonperforming loans. they need to get rid of these nonperforming loans.

an internal bear market and the s&p broke out of that range. k about the s&p made-the-first 52-week high in everybody other a year back in early july. that's only happened 20 times in history. 19 of 20 times higher than a median of 20%. a lot of things going on in the bigger picture -- >> you're making a bullish macro call that -- that has you believing that the financials will join the party? >> they already have, scott. that's my point. since early july we're seeing this rotation out of dividends sector. not an interest rate call. interest rates are flat over the last six weeks seeing telecoms, utilities, down. banks, materials, up. >> particularly the ten year, up a lot, since the lows. >> rates could go higher. trend lower. look at a positioning standpoint, ten-year treasury futures, large speculators, the most net long since 2012, which was the last time we saw interest rates rally. >> saw interest rate rally. >> there's more to this story than rates and it's specific to what's going on in the tech sor. at the end of the month you have reit

a gain of more than 3% for the dow, s&p, double that for the nasdaq and we're starting on a high note. fractional gains. s&p futures up 3.5. nasdaq futures up 6. as for the ten-year treasury note yield, it was the first look at the second quarter. it came in way below economist estimation. that pushed the yields down. there's some selling pushing bond yields higher. we're still below that 150 mark. >> we'll talk about at that later. let's get a look at the european markets right now. we did have european data coming out. the manufacturing pmis in general coming in roughly as expected. you see there germany up marge ally. that pmi was better than expected. and then a little below the flat line in italy and spain. those banking concerns hover over the market. let look at the european banks. they're in focus following the european bank stress test. you see uni-credit and intessa. they're taking it -- monte dei paschi. >> bouncing a little bit but minimal levels. more about this from rome in about 15 minutes. let look at asia. also mixed economic data. the manufacturing pmi. below the key

and now the palm oioil plantatis are e moving up p and up thehe , toto here, leeuser raiinforest. we've gotta go. >> leuserer isn't the onlnly ple experiencing deforestation. sincnce 1985, more than 50% of e forests in sumamatra have b been cleared, not just for palm oil plantations, but also for paper, wood, mines, , and road infrastructure. what took thousands ofof years to grow is coming down at an alarming rate. >> look at that. we traraveled d for over r an h, deep into t this palm o oil plantatition, till w we've got , the f front line of the expansi. this expapansion here is illegal under indonenesian law, and it's all happening for p palm oi this timbmber wilbebe shippededf to market, and in its place, in a matter ofof days, yououng m oil seedlings wiwill be planted. >> palm m oil is one of the momt widespreread vegetable oils throughout the world. within indonesia itself and also china and india, the 3 of them account for f more than h half of the, uh, the world's consumption of palm oil. but the u.s. and european unioion are also major players and can rereally, you knknow