decline in the 1930's. anybody know what gorgeous church we are looking at here? this is saint philip's episcopal church in charleston, south carolina. so denominations like the episcopal church, presbyterian, methodist, the mainline or some would say establishment churches. if you look at any major category, attendance, income, what they are giving in virtually every category, they are going down during the 1930's. if you lived in the 1930's, i do not think billy graham is not as visible publicly as he used to be. he is frail, elderly, and not well, but in the 1930's, a visible minister in the media would be harry emerson fosdick, and he is a good example of a liberal protestant, and what makes somebody a liberal protestant, they are not all the same, but for this man probably, the idea that he would deny many of the supernatural aspects of christianity, such as the bodily resurrection of christ. he is the pastor at riverside church in manhattan in new york city, and what he is focusing on, and what his chu

the 1930's. how does it affect the family? and again probably you and i think the family is just static throughout history. never changes. but if you stop and think about it, even in american history, the nature of the family is going to change. it will change rather dramatically in the 1930's. the role that religion plays in american history is going to var y from the good -- from decades. there is a surprising development in religion during the 1930's that somewhat relate to the great depression. , and weamerican history will continue to look at it as we get into world war ii and the 1950's, film is a good way to have a window into the past. theou look at movies in 1930's, there is a remarkable development in the film industry that i think is worth noting. it tells us a great deal about the influence of hollywood, but also tells us a great deal about the great depression. no matter how bad things got in the great depression, you could escape and see a movie. so these are the things we're going t

take a look at the s&p 500. it has now passed a record close, pass the intraday high -- past the intraday -- passed intraday high if you take a look chart. which, hopefully, we can pull up right there. the dow jones is also closing in on the summer record high. this, 18,254. so, pretty close to that. also very close to an intraday high. those are the two numbers i wish you would watch out for. going to the function on the bloomberg terminal, you can see that those factors are gaining with the only two decliners being the defense on this risk on environment where you see consumer staples and telecom communications declining. remember, they are also subject interest-rate risks. vonnie: what are the individual movers that you are watching? shery: looking at airlines, boeing has this big boost coming from the air show. 1.6% foreing them gain the third consecutive day. for 30,ounced the deal more than $3 billion. that is giving a big boost to boeing. more analysts ask the question, what is twitter? people have a clear

i will say just for everybody, i got the s&p wrong. up from where i said we go to cash, so i got it wrong, but the others, i think you stick with it. >> stocks as we mentioned near all time highs, but does main street care? we did a survey here in times square. our results could mean higher stock prices. we'll explain. plus, if you missed the rally, there's one big stock one trader says -- we'll tell you the maim and later, people are lighting up for tonight's $540 million megamillions and guess what? we know the numbers. >> come on. >> just see federal government you were paying attention. we don't have the winning numbers, but we have more stocks that could hit the jackpot for your portfolio. is woman owns th, with new cabinets from this shop, with handles designed here, made here, shipped from here, on this plane flown by this pilot, who owns stock in this company, that builds big things and provides benefits to this woman, with new cabinets. not just covage,surance craftedcraftsmanship. m. not just insured. chubb insured. >>> welcom

take a look at the s&p 500 gaining one .4%. if you take a look at the intraday chart you will see that we are close to that record high of 2131. since gaining one point 4%. materials, financials leading this gains in the s&p 500. over here we are seeing some new records. the 30 year yield on treasuries now at a record low area take a look at that area this is a one-year chart for the year -- yield traded almost down 30%. it is an interesting movement because of that labor data it we had earlier. we are seeing a two-year note yields keep rising and the 10 year note rose after the data. it is falling again and we're seeing the two-year and the 10 year spread at the tightest since 2007. take a look at the majors. we have now erased all of those losses following the frexit vote. year to date we are seeing the as much as the s&p 500. the nasdaq slightly in negative territory down 1.2% over the year. bonnie: thank you. taylor: attorney general loretto lentz is calling for peace and calm after the shootings in dallas. and fbi and atf a

the s&p 500 making another intraday high. s industrial average couldn't quite get there, falling just marginally, off-white .1%, or 26 points. in terms of the monthly superlatives, fifth straight month of gains for u.s. stocks. this comes after data for the second quarter sd

we are seeing the s&p 500 gaining one and 4% for the year. look at the s&p 500. the mac number right now is 2131 for the record 2134 for the intraday record high. we are at 2129, so very close to those levels. we will see what the next hour does to stocks. function ont the bloomberg so you can see all sectors of the s&p 500 rising right now. they are being led by materials and industrials. the energy sector feeling a bit of that lift coming from crude. financials also gaining 1.9%. today, the big data was the jobs data. the u.s. economy adding 287,000 jobs. u.s.e also seeing the 30-year treasury yield is at a record low for the year. it has fallen about 30%. the two-year note yield is currently rising. rose0-year note yield slightly after jobs data and is falling back again. and 10-year spreads are the tightest since 2007. a lot of market action right now, julie. julie: and not the action you might expect in the bond market with a jobs number like that. now is check the headlines on bloomberg's "first word" news. taylor riggs is in the newsroom. issued bystatement

the dow follows the s&p 500 into record territory. but not everyone thinks stocks can stay hot. >> pay raise. the country's biggest bank plans to hike wages for its lowest paid employees and the ceo called it the right thing to do. >> big opportunity. will amazon's one-day shopping bonanza be a boon for some small sellers? all that and more tonight on nightly business report for tuesday, july 12th. >> good evening. >> welcome, everyone. it took more than a year, but stoc are at new highs. again today, the blue chip dow index follows the s&p 500 into record territory. all those obstacles like brexit slowing global growth, they were on the back burn e for now. japan hinted at more stimulus, oil prices rose, energy stocks followed and investors regained their appetite for risk for at least this day. the dow jones industrial points. nasdaq added 34, a new high and s&p 500 rose nearly you factor in dividends in this ur news nor investors. >> the s&p is at a new high, but it has been there really all year if you include dividend gains of rou

the s&p 500 making another intraday high. the dow jones industrial average couldn't quite get there, falling just marginally, off-white .1%, or 26 points. in terms of the monthly superlatives, fifth straight month of gains for u.s. stocks. this comes after data for the second quarter showed less than expected growth. joe: the story, though, for today, extraordinarily low volatility. basically, a market that means nowhere and seems to be unchanged every day. amanda: it is inching higher. the s&p 500 hit that intraday record. scarlet: maybe "hitting" is not the right word. inching up. amanda: playing around with. huge tech week. amazon, apple that. which had a rather good week, was a weight on the market. basically flat to slightly sold off. a little profit taking. there is hewlett-packard, though. report today, report only, that kkr and carlisle are considering a run at hp and that has the stock shooting higher. speculative move up. we have no confirmation of that but the market is interested in the rumor. joe: let's take a qui

bearish when the vix rallies with the s&p. en that happens it often is a sign that the market is setting up for a pull-back. go back to mid august of 2015. you will see what i mean. the vix began to climb higher with a rally and the whole market goes into free fall. that was -- remember, that was the mini crash sell-off. it was terrible. until the volatility index rallies side by side with a rally in the stock market, sebastian believes we could go higher. what could cause the next sell-off? if bond yields creep up the clorox, kimberly clarks could be less attractive leading to a sell-off. as long as buying yields stay low sebastian can see the s&p 500 running up to 2,200 over the next month. you want that move, right? that would be something. here is the bottom line. the chart interpreted by mark sebastian indicates the big bull run may not yet be over. remember, he called it to the day. it's just marking time as it consolidates three weeks of rallies. sebastian nailed the post brexit bottom and i'm inclined to stick with him.

in the 1950's, black women were largely excluded from white women's republican activism. they formed their own organizations or join with black men to auxiliary organizations. in the 1950's, the republican women's order organization actually appointed a black woman who was in charge of black women's outreach for the gop. she travels the country for 3 years, really trying to convince black women to rejoin the party of lincoln and integrate the party of lincoln. >> you have done research on a couple of women in particular. can you tell us about them? prof. rigueur: two of the most active and prominent black women in the republican party in the 1960's and 1970's, they are two really interesting figures. they are liberal, active in civil rights organizations. they are very aggressive in their political outreach within the country. one particularly comes from a civil rights background. her father was involved in the court case that helped overturn the restrictive covenant. she's one of the cofounders of the congress for racial equality . at the same time she's very active in re

the s&p 500 on track for an all-time record close. the dow is pushing to within just points of its all-time high, and the nasdaq is flirting with a key level. that level is 5,000. we are just about 5.5 points away from that. so we're watching every single tick of this. while wall street cheers though, we have dallas still in tears working to recover from last thursday's deadly ambush by a former army reservist. the investigation is well underway, of course, as the dallas police now focus on more than 170 hours of body camera footage, countless hours of video from squad car dash cams and local business surveillance video. the assault on the dallas police ended after a robot, like the one we're about to show you on our screen, armed with an explosive was able to kill 29-year-old micah johnson. now, while it's revealed that the killer was planning to use bombs of his own, we've got the ceo of an uber-hot robotics company. and here is the question, folks: are we witnessing the rise of the row bow cop? -- rob with ocop? and donald trump mak

it's the most -- there's an s&p heat map for you. chnology in the lead as well as industrials, the two lagging groups are utilities and telecom. interesting. they have been the best performers this year, that may toss fat different yields. this is a broad rally built on cyclical stocks. >> look how excited bryan cran cranston. we have nintendo surging in tokyo, trade on the viral popularity of their pokemon go game. it became available in the u.s. last week. it uses real-world location in the hunt for pokemon. everybody is playing it right now. twitter lower after two firms downgraded the stock. suntrust citing continuing struggle with user growth, engagement as well as monetization. >>> he's probably the best known meth kingpin walter white. he's in "the infiltrator" as a federal agent going undergrown. >> and he's infiltrated the new york stock exchange it says here. welcome to the new york stock exchange. have you ever been here? >> i have been here once before. on the day i visited, there was a surge as well. so i'm feeling very b

so, talk about the s&p, 44% of revenue comeing from exports. i look at there's going to be earnings risk. be able to pay their bill, earnings will be a risk. you want to stay with the paper and the bonds in my opinion. >> u one lesson for the second half. respect the chart. so turn to grasso to ask what are the key levels to watch on the s&p 500. >> just said a level of 2200 in the s&p, so in these charts, there's something for everyone. so, let's just look back where he came from. this was the old high. the all time high. this is the cent high, 2120. 2113 that we came close to reaching. just couldn't hack it. this is your recent low. 1810. 1810 up to 2120. 2047. 2042. i think this is pretty fair if you look at this. 2120 or there. pick your poison and this to the downside. flat on year. this gives you enough of a buffer because if you bailout at 2042, you're not going to get up in this cent lull of 1991, so give yourself a little cushion because nobody buys the slow and sells the high. you're overshoot levels. if we cross over, 2134, it's 2150.

the s&p 500 was up 28. for the first half, the dow and the s&p 500 posted gains. the nasdaq fell, but the final numbers for the first six months of 2016 don't tell the whole story and what a story it was. january 2016, it was the worst start of the year for stocks ever. in just ten trading days the s&p 500 erased nearly $1.5 trillion in market value. february 2016 the selling intensified. the major stock indices hit multi-year lows. oil prices cratered and gold prices took off. by march things start to turn. global uncertainty seemed to fade. stocks rose along with the price of oil and the market hit new highs for the year. that climb continued through april and may. then came june. the federal reserve, which had been on track to rays interest rates did not because of the risk of a possible vote by the uk to leave the eu, which it did to the surprise of many, and global stocks were rocked, losing a record $3 trillion over just a two-day period, but now in just the past three days the market has once again stabilized, ending the quarter not far from where it started

the s&p staying in positive territory, up 3%. at the nasdaq we have at the -- we have abigail doolittle. abigail: another day of directionless trading between small gains and losses. the need that the nine surface, lots of movement. starting with the losers, down 3.4%, one of the biggest drags on the nasdaq. quarter their third revenue forecast nine below as they continue to struggle with difficulties in the medical. the ceo said there could be two quarters to three quarters of uncertainty ahead as they make the transition. the biggest drag is western digital after the company reported the fiscal fourth quarter. while they beat estimates, and it was a good quarter from that it became clear that much of the upside was driven by the sandisk acquisition and it came at a cost. a bloomberg intelligence analysts believe the long-term issues will persist. we have the green capital saying to by the weakness and western digital. vonnie: one stock is helping with a quarter percent gain. .bigail: amazon and alphabet amazon finishing at a re

and in the 70's, magnetic stripes -- were added. 1999, europe a international, mastercard and these the established the emv standard which included the option of chip technology. it caught on with europe. here is the argument. the payments industry has relied far more on self-regulation than in europe. that seems like a good thing when american companies are pioneering the economy. of in the wake well-publicized breaches, president barack obama and some lawmakers have called for national standards to database security for notifying customers when breaches occurred. mandates like that are all part of the reason banks are speeding up adoption of chip technology. chip cards become common in the u.s. over years and the battle with packages compound -- with hackers is come down -- is bound to continue. ahead, with the s&p 500 reaching an all-time high, the ftse 100 headed for a bull market, we will look at companies who are moving the most today. this is bloomberg. mark: live from london and new york, i am mark barton. vonnie: and i am v

in the 90's are now going head-to-head. lucky that one of their teams wasn't in the finals. >> exactly. you take your pick and obviously germany -- adidas was in germany for 60 odd years. mark: they have had a good run. >> everybody thought germany was the team to beat but it has been such a strange euro. vonnie: not this year. peoples shopping habits? youngsters it making change from buying nike? >> it depends. people can be sort of fair weather supporters when it is not your country. cup isteam that wins the wearing nike, you will probably going where that. and --ld see a few files if you thousand portugal shares around. in markets like asia and the u.s., they are new markets to soccer and people are finding a team to support. >> is it looking for the up-and-coming athletes? the under armour approach? or were they just unlucky this year? >> i think they were unlucky. only two years ago, germany went a brazil, absolutely battered nike sponsored home nation. brazilians were weeping and germany won the final. mark: they just

one more day in the 90's. friday morning that front drops down and that could bring a widespread soaking rain to places like new york city and southern most southern new england, all depending on the track of this low. the potential is there especially along amsouth of the pike to get in beneficial as we going to the weekend the storm pulls away and we begin to try things out. temperatures in the low to mid 80's saturday to sunday. nothing more than a pop-up shower especially on sunday and then it's back to drier weather but more seasonal temperatures heading into next week. one more day in the 90's. erika: a major scientific breakthrough in the fight against als and all those buckets of water and in the ice bucket challenge helped make it happen. researchers in part funded by this challenge have a gene that contributes to the disease. the als association reports that discovery will likely help scientists develop new treatments. the challenge inspired by pete frady raised more than $100 million for the als foun

one way to see then this case is that in the 1930's and 40's, and the 1920's, and through the 1950's, e.r.a. was seen as a pro-business measure. the people who supported it -- the first party to support the e.r.a. was the republican party in 1940. they saw it as a pro-business measure, because it would undermine protective labor legislation, and lifted restrictions off of them players, allowing them to exploit their workers to their hearts content. it was seen as an anti-labor, pro-business measure in the 1930's and 1940's and after. of course, it would come to mean something different in the context of the 1960's and 1970's. one of the things that changed part of the context was absolutely the civil rights movement and apostle -- passage of the civil rights act. another thing that changed is that women workers had been used to and largely accepted such that regarded -- segregated labor markets. in the industries in which women dominated like in the garment industry, the labor unions and garment industry where the last ones to drop their opposition to e.r.a. protective labor legislati

the second thing, they are shocked about the fact it was written in the 1920's, not the 1960's. the 1960's to them is ancient times. [laughter] kyle, you were saying earlier about the age of the students. the new undergrad class is born in 1998. [laughter] it is 1998 this year. i started teaching in the 1980's. when i first went into the classroom, students knew that the e.r.a. did not die until 1982-ish. so you could talk about the e.r.a. very shortly after that, by the 1990's, you walked in the classroom and say something about e.r.a., it was like you were talking about laundry detergent. [laughter] it was now a not in memory. it was something you had to teach as history, not current events, and not as a part of collective memory. i think they don't know much about it now. but i would like to say that in the last few years, students have much more readily -- coming into my classroom at least -- come into my classroom as feminists. they are shocked to learn anyone who would call themselves a feminist with someone they could relate to at all or was a halfway decent human being. a

the day. gold down four days in a row right now. s is at a new high but been there all year once you factor in dividend gains of roughly 2%. since 1988, if you just look at the price index of the s&p, it's up little over 700%. but if you factor in the dividends, put in those 2% roughly a year, dividends and reinvest them every year, the s&p total return what you'd actually have in the bank 1400, that's right, twice as much if you reinvest those dividends. and that's why we keep talking about the importance of dividends. by the way, the search for yield continues. we've seen corporate -- there's the lqd, that's the big corporate bond etf, investment grade corporate bond, took in over a billion dollar of new funds on thursday. that's the biggest flow ever into that. so the search for yield continues that lqd about a 3% dividend yield right now. guys, back to you. >> bob pisani, so we've been talking about that 2100 level for the last two years grinding around around it, now finally we have a breakthrough move to the upside. can we get m

2130 something or 2140 on the s&p 500. a lot of people are saying that kind of feels to them like the top for the year. what do you think? >> it does feel a little bit pricey. and it does for a lot of the reasons bob laid out. there's no question that sentiment has turned for the better. a good jobs report, brexit wasn't the immediate catastrophe we thought it was. et cetera, et cetera, those are things that fundamentally effect price, value is driven by earnings. i share bob's suspicion caution that second quarter earnings reports will be as good as topdown analyst estimates expect. >> what do you think about europe right now? i know you had some ideas maybe there were some bargains over there. do you feel that way, or have those been eaten up? >> there are certainly opportunities there. we find them -- it's selective, but more in the multinationals if you will unfairly punished by concerns surrounding brexit, whatever form that ultimately takes. very much a bottom-up top selection type firm. fewer on the ground now than m

alix: is the s&p 500 party over? matt: we are looking at if there will be a correction in the equity market. joe: and our guest explains why we are not building more single family homes. >> and a chances of a said rate hike ahead ofrate the decision on wednesday. joe: we will kick it off with the market minutes. matt: looking at the dow jones average, looking at maintaining their longest average winning streak. newark are the again today -- new records again today. so those investors who got long before the brexit and freaked out, as long as he did not sell you are good. >> we had a couple of down days. and we made fairly close to the highs of the days. >> it has shrunk in a little bit, but we are still going toward and posting new all-time highs. one has not passed the all-time high, the nasdaq. the tech stocks, looking at basically the high of the past months since they started the year. going back to july to see when the composite hit the all-time high. we are looking at a transition in the market as stocks do bett

owe closed at record highs for the s&p for the second day in a row. this time for the dow as well. s&p futures flat to up. the nasdaq by the way closing at the highest level of the year and going into the black for 2016. after the record rally that sent yields to record lows, we've seen a reversal this week out of treasure yields higher. they hit 150 on the 10-year yesterday. backing up a bit. we'll keep an eye on it for you. european equities losing some gains. they have rallied sharply. got a little back. a limit action this morning. the german dax is flat. france is in the green. ftse 100 barely moving in anticipation of the any prime minster. the italian banks suffering the worst. new data out of china this morning. june exports and imports both falling a little more than forecast. still we did see green ads follw through. the nikkei continuing to build on recent gaining up. broader market, check out oil. suggesting that the global glut in oil not going away. putting pressure on prices throughout the year. this despite what they call strong demand growth better than expected and

the white line is the s&p 500. day moving average for the s&p and the 200 day moving average. down here, showing you the percentage the s&p 500 members whose wealth strength index is less than 30, greater than 70, means they are overbought and have momentum and technical analysts say they have gone too far, too fast. conflicting signals. looking at the rfi's the bar is low. the s&p is up 8% post brexit-low. 5.5% in the s&p trading above those 70 levels. pretty low considering how far we have come. however, the kind of momentum put into perspective when you look at the difference between the 10 day average and a 200 day average, the short-term rally has gotten pretty bad. tough one,u, it is a i love how tied to the news your chart is, vonnie. a tip oliver, a bigger font but overall oliver. i love a technical chart. love what saying about the s&p having further to go. mark should be out more often, i like this. vonnie: you can win every day in my book. thank you. >> coming up, donald trump claims to be worth more tha

the s&p, that's the one that's doing it. briefly above the record closing high on the back of that strong jobs report this morning. the dow, the s&p, nasdaq now have all erased their brexit losses. >> remember that? >> it seems like ancient history right now. we'll see if that can continue in the fall. >> it's been a tough week for energy. oil down more than 7%. we're live on the floor of the nymex with more on that. >> the house has passed legislation to block boeings planned aircraft sales to iran. we have the details and does volvo have any real impact on that potential transaction. >>> plus, facebook is looking to take on snap chat head to head with a new feature in its messenger service as snap chat faces a potential class action lawsuit. more on these stories coming up. >>> let's start with the jobs report. the blowout number this morning, steve lease man has the key data points moving the markets. bob pasani is all over the markets. >> despite the big number, there are some good and there are 1078 bad points in this r

and the 1980's. they did not start at that time but they did expand. the sources will show that in the colonial era, there were women who were taking another and i think the feminist movement of the 1960's and to0's really did a service women were not being heard in a public setting. i think that is important. >> over here. >> the equal rights amendment itself, i came in a couple minutes late, i don't know anybody actually said it out loud, but this is a couple sentences, there shall be equal rights. not,ld say that there are not all the issues you have raised as prominent and important issues to deal with now could be dealt with under the equal rights amendment, but ifa lawyer, i would say that we had an equal rights amendment, it would be a powerful legal tool to deal with at least some of the issues raised for example, fair pay. why do we push minimum wage? in fact, many more women than men are at that level. many issues in the workplace, talking about protective havelation that we could bathroom b

and 80's, goodbye to the 90's. thank you. a quiet start on the roads. this is a check of the pike by allston brighton. nice and late start both ways. let's check out the rest of your trip. so far, no complaints heading into town. all the construction is gone, as is the project am the northbound side of the expressway. route to 3 looks good, no issues north of town also looking great out of chelmsford, 93 south all the way down to the leverett connector. trains and buses starting on schedule. randy: the man who tried to murder president reagan 35 years ago, is about to be set free. john hinckley has spent the past three decades confined to a mental hospital after being found not guilty by reason of insanity. a judge has now ordered hinckley released, saying the 61-year-old would-be assassin no longer shows signs of mentaln he must still take therapy and is barred from talking to the media. pamela smart, the former new hampshire school teacher serving a life sentence for plotting her husband's murder, is now suing her

it's the s&p 500, the spider.hen you look at tesla, across the board in every single month, that volatility is explodinging to the upside relative to where it's been over the last 30 day, so there is concern in terms of what people think of this stock and where it could go. so, the movement expected right now in a tesla is massive. >> i just think there's still so much to be questioned about the world going to the vehicle. the internal combustion is not dead. the fact these guys have a master plan which is probably as simple as we know, which is why they're buying solar city. and i get it. that's you know, that's well in the price. at least at these levels, so to me, it's not that it's no a great technology. i do get a little worried about the capital structure and i think they're not hitting their deliveries. i think the stock is a very expensive awe toy company. >> coming up, check out shares of alcoa. the ceo on what drove the quarter's earning season gets underway m you're watching "fast money" on cnbc, first

temperatures in the upper 80's. we will stay in the 80's monday, tuesday, wednesday. hursday of next week, another new heatwave. temperatures in the lower 90's. "abc7 news at 5:00" continues alison: we are back now with an update to a story we brought you yesterday. remember the honest boston cab driver that returned the back pack that contained $187,000? 72 raymond "buzzy" receiverred $100 as a tip from the owner after he returned the money. but now he has been offered a free cruise. royal crubbian offering a seven -- royal caribbean offering a seven-day trip as part of the company program that rewards exceptionally selfless acts. jonathan: that is a cool program. alison: isn't that wonderful for him? is that good for him. alison: he deserves it. jonathan: he does. he is not the only good samaritan getting a big payoff. a west virginia couple is probably feeling like a million bucks. literally. sam and barbara were introduced as $1 million jackpot winners from the june 25th powerball. the announcement came after they spent a lot of their time feeding the hungry and as

here is the s&p. to show you the airline stock because a bunch of the asian airlines came in and ordered more single aisle jets. that is pushing up to sting boeing as well as all of the european airline manufacturers. american airlines rising as well as ualr. the utility stocks right now, they are coming back a little bit that we do see utility stocks still down about 3/10 of 1%. among the losers, you see utilities and telecom stock and i will finally show you gold here, which is actually coming up. we are still not at the record we saw last week but 1360, pretty strong for the precious metal. meantime, let's check in on the first word headlines with mark. mark: the favorite to be written's next prime minister says there is no going back on the european union vote. "brexit meansid brexit" and we are going to make a success of it. she will make no attempt to stay inside the european union. it may be a sign that bernie is about to endorse hillary clinton. sanders will campaign with the likely nominee tom

the s&p trading at an all-time high. current market has added $6 trilli trillion for invest source. what you need to know before the opening bell looks strong across the globe today. >>> hillary clinton supporters are hoping for an endorsement from bernie sanders at a rally today. i hope it happens. i can't -- maybe it will, maybe it won't. nobody knows. in the meantime, donald trump hitting the campaign trail with a potential vp pick and forbes unveiling the list of highest paid celebrities. we'll tell you how much more they make than the average camera man or gaper on the movies they make. and try to shrink this income inequality. who is in the top spot and who dropped out. it's july, 12, 2016. "squawk box" begins right now. >> good morning everybody. and welcome to "squawk box" on cnbc. let's take a look at the u.s. equity futures. yesterday the s&p closing at a record high. the dow was at the highest level of the year. the nasdaq closed above as well. you can see the bulls are continuing the run.

joe: if you think the s&p will selloff, the vix normally moves opposite of the s&p, so you would want to buy protection. in this case, it would be buying long vix. barclays has the most traded one. what if you want to look at something that is in verse, you can look at the velocity short-term etf. a sickly, a group of four or five that are very popular. vonnie: are we expecting to see a lot about those or will people wait to see the politics held out in britain? joe: you may not see outflows, you may see contracts changed the money may not blowout, but once things slow down, you can expect to see some outflows as people reposition and get invested in other things based on their risk profile. vonnie: thank you for bringing us up to date on that. coming up, large-cap technology shares are carrying the day at the nasdaq. apple and netflix among the big movers. we look into why netflix got an upgrade. auto sales are on track to hit a record for the first time in six years but there are signs that the numbers are slowing. anything that automakers can do to reverse the slowdown? we are live

we are essentially at new highs intraday on the s&p. back to you. >> thank you very much, bob pisani. oil almost exactly flat. jack any deangelis for us at the anyway mention. >> oil prices are tent tef. we started the session overnight in negative territory. now we are bouncing around slightly positive, trying to make a comeback off the two-month low, not convinced it can do it today. recent losses based on the fact there is increased concern asht economic growth. comments out of the middle east from the new saudi oil minister about the market rebalance may be helping things stabilize here if we have a nice solid green session as well. meantime gas prices have dropped according to to the survey. down seven cents. the average is $2.29. post fourth of july we start to see the decline. that's the peak of the driving season. gold prices are hanging in there. we made another push to break through the 1376 resistance. some analysts say the next time we make the push we'll probably take it out. now stabilizing the safe haven trade has not come

toy're calling for the s&p reach 2325 by the end of the year.dip into my bloomberg, you can see where the s&p has been trading in a range for the last year or so, and this is where he is looking for it to go. how confident is he now? tom, thanks for joining me. your confidence in the medium-term, not so much for august. tom: that's right. in our view, markets reaching -- a lot of300 those conditions are in place. we a lot of confidence we can advance 8% to 10% in the next six months. vonnie: based on want -- based on what? tom: the most important market is a high-yield market drayton it's really on one of the biggest rallies we have seen over a decade. , he confirmedal the global growth is slowly improving. earnings have been pretty good. i find some really interesting things in your notes. bonds bonds are riskier than stocks, and you think that an increase in interest rates from the fed could be positive for the s&p 500. tom: yes. in terms of tactically, short-term, i think august scares us. one of the things you mentioned is what's unusual tod

and meanwhile, q2 is the second biggest quarter ever for the s&p repurchases. d some scarcity built in. >> and general mills buys back constantly, and we will hear it are from ken as an example of the american company with earnings made better from the buyback, and i will regard that as legit and not are risk to say that the reason that cracker barrel is back because they bought back stock, and the reason that auto zone stocks are up because of the greatest buyback in history, it is. >> and so what about yesterday the reits and the utilities were we weak, and may have seen some selling, real selling -- >> and we have seen -- >> well, what did we see? technology, and autos and obviously, airlines had a good day. and was that a real, and can we believe it is something that is going to be sustained or to a one-day -- >> looking at the car sales in europe, you say, i should be buying gm, and maybe you are not paying attention to latin america, but the utilities and the bond sell-off was for real, and you will be eventually saying, wait a second, did i pay too much?

the temperatures will slowly but steadily fall from the 80's to the 70's for overnight values. watching the area of the showers and the well into quebec province in canada. that front is going to fall apart but it indicates a pattern. the little boundaries in the atmosphere that may enter at times later tomorrow and saturday into the hot and humid air. there could be isolated showers and storms. outside of that possibility, it is all about the heat. and the increasing humidity. partly cloudy to mostly sunny tomorrow. becoming humid through the day. highs of 95. the feels like temperatures will be in the upper 90's. to go along with that, code orange air quality for the day tomorrow. we will have a lot more in a few minutes. leon: you got it. speaking of heat, speaking of the hot seat. roger ailes out as chief executive at fox news channel and fox business. this following allegations that he forced out a former anchor after she spurred his sexual advances. rupert murdock is going to assume the role of chairman and acting c.e.o. of fox until a replacement is made. virginia senator

worcester, 70's dropping to the upper 60's. warmer out there to start this through the 70's. 71 degrees on average for a low temperature. futurecast shows we are sunny to start. humidity starts to creep up tomorrow. and as it does, we'll watch a couple of isolated showers developing in southern new england, while a front drops at us from northern new england. it's this front that's going to bring the potential for showers and thunderstorms through northern and central new england in the afternoon and by evening, to southern new england. see that come this way. we'll be watching those isolated showers starting to pop up here during the evening hours. of course, i'll be tracking them for be sure you have the fox 25 weather app for you. then the clouds start to are really take over later overnight tomorrow night into friday morning. that's when we have to start talking about some more significant rain. let's stop there and talk about the lunchtime temperatures. around 90 at lunch tomorrow. low 90's, metro west. 89 boston and plymou

the dead. that's how they're going to -- s. europe is on deck, great britain is on deck, you know, and the federal reserve can't be too far behind. how about those indirect. you should understand that -- i don't think sarge is advocating that at all. >> i get what sarge is doing. com padres, of insanity in central banking? >> you're on the same side of that trillion dollar coin, for sure. some of the beaten-up stocks there yet? >> yes, there are a whole group of stocks with low pes, with huge cash flow, and i think now because of brexit, where there's a lot of people are concerned about the markets. i think now is a real buying time for a lot of beaten-down, blue chip stocks in europe. because a lot of different play places you can't look, but banks for example, would they make your list there? >> you know, the thing about brexit is it's going to have a lot of political consequences, but in the end it's going to have zero economic consequences, at least in the short term, because for the next two years-plus, britain's going to b

today the 90's are back.ac yes, steve, the 90's are back. more sunshine out there.out should be a dry afternoon for you. i will have lots of details on o this upcoming heat wave. w how hot will it get? in just j a couple minutes.. >>> beautiful sunrise out sunrit here. let's find out if traffic ishe c looking beautiful this morningul with erin.with erin. good morning. >> tucker it's much betteretter than it was yesterday. every time he says the 90'se0' are back i want to hear something good from the 90's 9 rock-wise. right now chopper skyfox youky can see officer the bell looking good in montgomerygo county right now. ngey're making me dizzy soodun we'll look at our maps right now. baltimore-washington parkwaywash we do ha activity however.activity it is on the northbound side past 197 police activity crashi on the southbound side ofef powder mill road.er mil so you can see some yellow onomn the map.e m volume still pretty light but l we're starting to see congestion develop there.veloph. might want to keep it to 95o northbound and southboun

the s&p 500 finishes the w an all-time high. but can the rally drivers continue to carry the mark higher? >>> economic bellwether. what ge's profit forecast tells us about the state of >>> real risk as vehicles more connected, automakers working to keep hackers aw from your car. all that and more tonight "nightly business report" friday, july 22nd. >>> good evening, everyone welcome. blue chip stocks closed at another record today. the s&p 500 index, the bro measure of large company performance, gained 0.5% t off a week when multiple r were set. surprisingly good earnings stocks a lift, so did some positive economic reports week. volume was light. stocks overcame news around midday eastern time of a mass shooting in and around a major shopping mall in munich, germany. by early evening in the u.s., police there said at least eight were dead. the whereabouts of the gunman or gunmen was unknown. german officials suspect a terror attack. in a world where this sort of news has become disturbingly routine investors held firm to their

what are the egg losers in the s&p 500? a look for industries down one and 6% after they announced -- made after the markets closed on friday. analysts saying this could increase the possibility of strategic investment or acquisition. ,lso downgraded to mutual financial down more than 2% after seeing a weekly game. take a look at some of the winners on the s&p 500. that, that was the adoption -- i have to excuse myself when we were talking, they were heard by spending cuts in the oil and gas industry. whole foods market up more than 2% there and cap gaining more than 3.4%. take a look at oil, now at the lowest since may 9. is affecting the oil companies right here. u.s. producers have increased drilling for the fourth week. heard from orissa meyer there, and their stock is down 1%.or yahoo! and half of check it out, there is the stoxx 600 and almost all of the industry group rising. we have not risen two consecutive weeks since may of the 27th. still, europe's benchmark is still 1.3% below the level it closed on on june the

couple of spots like wilmington and cape may are in the low 70's probably dipping into the 60's over next half hour or hour. dewpoints though are higher today. remember we had them in the 50's yesterday morning. today 64 on your dewpoint reading in philadelphia and anything over 60 is considered humid and today overall is going to be a bit more humid than yesterday. as we roll through the afternoon it's another warm one, too. 70 degrees by 7 o'clock. a little sweaty on the running trail but not bad. 76 degrees by 10 o'clock and then we spend the afternoon in the 80's again. 82 by noon and your high today is actually going to be 88 degrees and that will clock right in there around 4 o'clock this afternoon. still holding 84 by 6 o'clock. gets really soupy tomorrow. there could be some western thunderstorms and then oppressive heat and humidity back in play for thursday. karen, i'll have details on all of that coming up in the exclusive accuweather 7-day and there is septa. it's your turn. >> there is septa. we continue to have problems with septa. yesterday they brought in new schedules

the rally rages on. david: it sure does. yesterday, we had an s&p 500 record and the asian stocks are up today and we are getting into earning seasons. alix: it will get interesting and starting off on the right foot. you will have great test to discuss where stocks go from here, including david derosa. he will be with us for the entire hour. plus, andrea orcel in a bloomberg exclusive, three hours to set you up, but first, a look at the markets. yields moving higher from here. mark: let's get you up to speed. futures on the front foot at the moment, firmer on the s&p 500 after yesterday's all-time high. look at the moves in japan. the nikkei up by two point five percentage points and it is a two-day rally up over six fourth percentage points. more stimulus potentially from the japanese government. the nikkei rallied and the yen declined. weaker japanese yen and the dollar yen trading with a 103 handle an approaching one of four. cable rates gaining as well. the pound doing very well. it is a firmer story for risk assets, but this is what i find t