tj maxx bucking the trend.ation prices, the earnie herrmann says that they have been attracting new and we connectmers and this to stock performance by happy to bloomberg and we will see tj maxx is doing quite well. purple, the s&p 500 on the year up about 6%. in yellow, consumer discretionary space up 14%. here we have kohl's and tj maxx doing really well. not as well as amazon but nonetheless, considering the weakness we have seen from macy's and some other names, it has been a strong year. >> yes. they are holding their own. that is stock performance. talk to me -- question. the we get to this chart of macy's versus tj maxx. it goes all way back to 1999. in white, tj maxx. in blue, macy's. macy's isf that time, really beating tj maxx relative to revenues. 2014, 2015, tj maxx taking it away up $36 billion in revenue whereas macy's is about .5 $.6 million. it is not really compare to amazon closer to $235 million. tj maxx really outperforming and on the stock, valuation is attractive and it may suggest there i

one of their first choices when we talked to them is they're shopping at tj maxx.hey all -- >> really? >> yes >> i thought tj maxx more of the off-price maybe slightly older, looking for the bargain with the brand name it's millennials >> as of about 18 months ago when we started doing checks, the customer was saying she proudly goes to tj maxx because she likes the ability of putting her outfit together without somebody dictating it to her it's about putting together the outfit of the day. #outfitoftheday. >> you just copyrighted their new motto. >> tj maxx, we won't tell you what to wear >> sis lyiomething like that but customers love it. they do it at a great price, it's not like forever 21, but it's solid and a top choice. >> mary liking kohl's, liking tjx, says macy's is pretty good. we'll see you after the back to school season. >> thank you very much. >>> still ahead, business in the fast lane. how indy car is surging and driving big money growth later on, dethroning the king o pop. one band, they're named after giant bird, they just overtook michael jackson

not tj maxx. they love the bricks and mortar stores, they love the bargain hunting for cut price apparel items. as you can see, tj maxx, kohl's both having a good day in the retail sector. retail ice age. what ice age, guys. connell: that is a good day. thank you, ashley webster. melissa. melissa: s&p soaring toward a major record for the longest bull run streak in history. let's bring in our panel. lenore hawkins, thematica research and gary kaltbaum, from it kaltbaum capital management. gary, i feel like we're jinxing it with the segment? >> 1000% jinxing it. when we talk about it, it is already done. my biggest issue we're not in the early innings. the good news, doesn't mean we're in the late innings. let me just say, i have never been more optimistic president people of this country, the workers of this country, the technological breakthroughs, the medical breakthroughs all that stuff. my biggest problem i have never been more pessimistic on the people that are supposed to be fiscally respons

costco, tj maxx, my mom loved tj maxx. she turned me on to that stock and burlington.t is hard to deny that is going to change -- i don't think that will change because of a trade situation? >> not only do i love tj maxx, i'm building a tj maxx in south jersey, that is how much i love them. ashley: buy yourself? >> with my bare hands. the problem you have the haves and have notes in retail. you have the home depots, walmarts, and tj maxx, but you still have a lot of retailers that will have problems but you're absolutely right, the consumer is back in full force and -- charles: you say the consumer will stop spending because of the trade war? >> you start to see an escalation in prices the consumer will back off. the consumer has been out of this economy for years and years and is finally back. we should protect them by not putting them into rising prices. charles: i think most amazing aspect of walmart's report, besides the foot traffic is pricing power. susan: consumer dine something up at the most since 1992. everyone is eating out. charles: retail sales reports hav

estee lauder we're back to the retailers, tj maxx.rtation average hit a all-time high. if you go back 100 years, one of the biggest theories in the market that you can't have a rally without the transpos leading way. russell 2000 hit all-time high two weeks ago. that is the domestic economy. the housing stocks today are the big surprise. toll brothers you mentioned earlier in the show. valuations are low, the growth is there and it is really an amazing thing. so i would not worry about where we've been. focus on where we're going. by the way on that note, jpmorgan, big news this morning, free internet training, free on-line training. stuart: free? >> free trading for 60 million of their american customers. 100 trades, first ones all free. they want a piece of the action. they see this working as well. stuart: free, first 100 trades. >> right. stuart: free? >> free. stuart: that's news. >> jpmorgan. stuart: thank you for bringing that. i didn't know. good stuff. bring in dennis gartman, publisher and editor of the guard man letter. i h

they had good news out of tj maxx as you are speaking. -- guidance up.h flyer in retail. here is the interesting situation. macy's, kohl's, rallying big this year, both of which selling off after earnings. year, close tos record yesterday, up 35% year to date. still up premarket because of the big beat. kohl's is a sharp contrast. the second quarter, earnings beating estimates but the stock is falling in premarket trading. perhaps expectations were running even higher. david: a quick review suggests they were up across the board. julie: tjx. david: they also took their full-year forecast up, second-quarter net sales beat highest estimates. they got every single one of them green. right now, premarket, almost 5%. we areese reports, coming to the end of the retail reports in terms of earnings. it has been a mixed bag. walmart and nordstrom doing well. jcpenney doing poorly. a range in between. , former ceo of saks. good to have you. steve: good morning. david: i will put up a chart that shows retail sales. it has been bumping around, the growth level. it i

tj maxx found the magical infreed end which is this treasure hunt. yes. >> constant, everyday bargains. people are flocking to the stores. lines out the doors. tj maxx is an incredible retailer. stuart: okay. there's fine note to end it on, zika. it is the:40 eastern time. we have to say good-bye to jeff and melissa. thanks so much for joining us again. i chum you are i will be back and so will you. check out the big board. we're down had 45 points in the early going. >>> look at videogame maker electronic arts took a hit after announcing it is delaying one of its big games. look at that drop. full story coming up. that is a drop 1/2. >>> canada has until the end of this day get on board with a trade deal or face some tariffs. they're in a tough spot. they need us more than we need them. more "varney" after this. stuart: 13 minutes into the trading session. we're still waiting news on canada. we're down about 40 points. >>> now look at amazon, $2019 a share. as i keep saying, if it gets to $2050.27, it is worth a trillion dollars. it is heading up ag

and tj maxx's reporting tomorrow.ve a nice jump over the s&p consumer discretionary index but also above the s&p itself. talked about the consumer discretionary being overvalued. we will see tomorrow morning whether they are able to beat enough to keep this going. vonnie: it is topical. romaine bostick has all of the tricks down. co-anchor,g to my romaine bostick. romaine: let's talk about dividend yields. we have been talking about the divergence between u.s. markets in global markets. one advantage european markets have is that they offer higher dividend yield. when you think about the s&p 500, you're talking about a 1.9% dividend yield. that is 100 basis points below are the 10 year treasuries are at. when you think about europe, you're talking about 3.5 percent dividend yield, 300 basis points above what you get on the benchmark 10 year treasuries. a lot of strategist talk about the importance of paying attention to dividend yields as we head into more volatility. it is not to say it europe is better but if you're

costco, dollar general, tj maxx, that covers every income bracket in america. the whole political debate on who benefits from lower regulations and lower taxes. those names we just put up suggest maybe we all did. >> i agree with you. and you mentioned wage gains. where the money is coming from, from the consumers, is since march 9 of 2009, the beginning of this bull market, the stock market created $18 trillion in wealth for the 52% of americans directly or indirectly who are in the stock market. s & p is up 323%. you think about that on an annualized basis. that's phenomenal. that's where the wealth is coming from. that's where the money is coming from. it's not just consumers. corporations are spending, too. we are at record capital expenditures. i think it's because of the stock market and because of the tax cuts. that's really been fueling this movement. charles: i know in december they did their forecast and again may, 250% jump for manufacturing. those are long-term investments. paul also brought up since the march 9 low, 2009, the s & p 500 up 360%. a n

those would be tj maxx and burlington. julie: still some winners and a transition time and retail. you michael binetti. check out what is happening to the dax. we are 30 minutes away from the end of the thursday's session. i could bring up any european board and it would mirror the same. tech stocks falling on the back of the disappointing tencent results. em stocks falling -- following commodities lower. this is bloomberg. ♪ julie: some breaking headlines on tesla. a report out from fox business that the sec has sent subpoenas to tesla on privatization plans as well as elon musk jiggy infamous statement involving funding secured. infamoususk's statement involving funding secured. what is new is the subpoenas that are being reported. the signals that the investigation has reached the quote unquote formal stages. foxbusiness reporting this in a tweet and it looks like it is having an effect on the shares which is why it is worth mentioning that shares were already down on the session and it looks like they are taking a further leg lower. 4%, moreres off by than $100 below that $400

. >> a read on retail and the consumer, first reads on kohl's and tj maxx. "squawk box" tomorrow on cnbc. 5. experience amazing at your lexus dealer. experience amazing with tough food, your dentures may slip and fall. new fixodent ultra-max hold gives you the strongest hold ever to lock your dentures. so now you can eat tough food without worry. fixodent and forget it. i am going to vote ok, for myself using nothing but this remote and the sound of my own voice! vote for... wait wait, that's not a talent. any xfinity customer with an x1 voice remote can do that. watch this... i want to vote for... obviously not you. ooh that guy... cast your votes during every live show. just say "vote for agt" into the x1 voice remote. >>> last week was full of miraculous retail resurrections. it was the incredible blowout for walmart just on thursday and then friday we saw nordstrom rise from the grave like lazarus. here is a high-end department store chain that a lot of people lost faith in. i started recommending nordstrom at the end of february, the stock was too cheap

i know you have been on the tj maxx train for a while this was a $50 stock five years ago, now $90 howoes a t.jx or a ross have to go. >> it's probably less than 20% of the overall department store channel. when you look at the business model for an off-priced retailer it's difficult for macy's to also run an off price. so what we like about tjx and ro ross, it will be difficult for or companies to compete with them with tjx you have the international aspect of it and ross doesn't have as much presence in the midwest. the consumer is always looking for value. we see good growth in the channel. >> i know you own lowe's as well as oh ril'reilly auto parts have a great weekend thank you very much. >> thank you >>> time for your morning rbi. if you're planning on getting married this weekend you're not alone. according to the website thenot, tomorrow, which is 8/18/18 is the busiest wedding day of the year the knot says nearly 30,000 couples have registered to get married tomorrow get those registers ready. we talked about consumer spending don't be the person buying the cheapest gift. hav

i think that finding brands at a value or product at value like a burlington coat factory, tj maxx and these are names that have continued to show, but they have a great business model and that's where investorsment to lied, but companies that they're investing in and nike hasn't been the perfect example i favored adidas over nooky, but nike has done a great job. and it has been a success. you have to be careful and pick your poison here >> i think walmart -- why do i need to be careful >> i think a walmart needs to be careful and we talked about it on the show $91 bucks a share and be very cautious going into earnings and although it's a laggard i would say for good reason because people are interesting -- >> you brought up nike and i agree with john. nike is one that a lot of people looked at and they suddenly got all freaked out. the reality is the growth that they're seeing internationally a lot of that can change over time because we know how the dollar is working over everything else and that's where the growth has been and they've absolutely delivered when you talk about china o

names like tj maxx, tjx, ross stores of the those are names hitting all-time highs. technology, the nasdaq has been the best of the bunch since the election but look at some names, techs hitting higher, nvidia and sales force and adp. these are the tech type names hitting highs. while the dow is not at the record there are dow stocks in that dow 30 also hitting highs today and a lot of folks have these in their portfolios. unitedhealth, visa, and american express are the ones. i'll toss it back to you. last thing we got today which was good news on durable goods. while the headline number was weaker-than-expected. non-defense goods excluding aircraft, that is the business spending that did better than expected. looks like we'll lock in another winning week here on wall street. dow, winning week for six out of seven weeks. cheryl: thank you, nicole petallides on floor of new york stock exchange. now we want to bring you this news today that senator john mccain has chosen to discontinue medical treatment for brain cancer. the arizona is battling aggressive form of the

the only other one i like is tj maxx. i agree in the macroperspective, with the tax cuts and deregulation. people want to get out there and spend money. david: guys, stay with us. markets surging on the back of strong economic growth as well. white house economic advisor larry kudlow says this fact can not be underestimated or ignored. here is exactly what he said at the white house this afternoon. take a listen. >> the single biggest story this year is an economic boom that is durable and lasting and that most people thought was impossible and they were wrong. david: gary, i think he cut right to the chase. the point historically, 10 years from now, 20 years from now as we're looking back at this period, people will not pay attention to little hiccups and so forth. they will look at the overall economic growth which is booming. >> exactly. wasn't it just a year or so ago, someone in the obama administration said days of 3% gdp growth are over. we'll have to live with malaise in eternity. trump comes into office. warts an

tj maxx, increasing. we have other winners we've been watching.reat quarterly results overall for retail. you see macy's and lowe's. look at the gap. we'll watch for that after the bell. up a quarter of a percent at this time. it is one of laggard. revenue expected to grow 5 1/2% neil, we noticed couple things. people are going to the stores. they are going to the stores more often and spending more when they're there. after the belle we'll see how it broke down, old navy, banana republic, namesake brands. old navy always seems to be the bright spot. neil? stuart: neil: thank you very much. annual big fed summit going on in jackson hole, wyoming. fed chair jay powell is under scrutiny especially with the president say he is not a fan of rate hikes. telling a fund-raising group in morning, i didn't know that about this guy. had i known what he was going to do, maybe i wouldn't have picked him. edward lawrence with all the details. reporter: neil, federal reserve chairman jerome powell doesn't speak until tomorrow morning. all eyes on him because of

i think you were expecting a good quarter even tj maxx turned higher, what does that say to you >> i think it gets back to the point the consumer does drive the economy. and if the economy is doing well then the market should do well also wages growing, unemployment at 20-year lows the consumer is feeling very confident here, so they are spending more and that will help push our economy into high gear as we head into the second half of the year. >> rick, any thoughts from your front there particularly as it relates to rates and impact on the market snipt. >> well, it's a big down day for the dollar index everyone needs to pay attention because there's two big forces at work, the residual effects on the emerging market, concerns that arose a week ago, the catalyst being turkey, and the bullish on the index before it ran up despite that deep trade it's down 1 point and almost 0.3% today it you recall we settle around 92 at the end of last year, stow nice gains in terms of interest rates it certainly seems as though there is no fire to be set on higher rates at this point. you can see i

helping the s&p 500 on the day, some of the top movers including medtronic, discovery, charter, and tj maxx very strong quarter. analysts are bullish. upgraded at jefferies to a buy with the analyst thinking there is opportunities to boost free cash flow that is helping charter communications. t.j. maxx had a strong quarter. coming up 6% above the estimate of 2%. it is not just limited to the stocks are let's take a look at the homebuilders. those shares shoring up 15.13 signs than contract expected. plus, strong backflow bringing up the whole space of homebuilders. finally, let's take a look at a four-day chart of the bloomberg dollar index. take a look at the bloomberg 1.5 percent. down its worst four days since march. perhaps this has something to do with the bloomberg scoop yesterday on the report that president trump thinks the fed has not pumped easy money enough. that is criticizing that rate hike -- rate hike. lisa: let's get the first word news with mark crumpton. reportingnews is michael cohen, president trump's attorney has reached a plea deal with present -- federal prosecutors.

where will you go shopping at walmart, costco, tj maxx. neil: what do you think of that argument, better things look for shoppers, the better things look for party in power who wants the shopper? tim? >> well, i think it speaks very well. look at walmart's numbers. that showed a very, very nice increase. it goes to what's going on in the economy. people feel better. whether it's businesses, business confidence still running at near all-time high or consumers. and absolutely if you're spending more money, it shows you're more confident. it is not just the economy. it is the market. people are seeing their 401(k) balances go up. they feel a little bit more flush. we've seen wages go up on nominal basis if not real, but we've seen take-home pay go up because of the tax cuts. there are a lot of positive things going on economically. sure you can quibble with the housing numbers, you can quibble with this part of the economy or that part of the economy but the reality is we're operating on a much higher level than we were. it is showing up in t

we heard this from tj maxx and kohl's. foot traffic is picking up.ricks and mortar are not done out of it yet. that is a sign of strong economy, consumer confidence, tax reform kicking in, low unemployment all that combined, people are going physically into stores. stuart: what was that word target used to describe, thanks, producer, unprecedented gain in foot traffic at target stores. ashley: that is remarkable. stuart: retail ice age. susan: walmart biggest sales in a decade. people are eating out of restaurants. hot, hot market. consumer in full swing. stuart: well-said. hold on. hold on. jumping the gun there, liz. back to the political turmoil. this is where you come in. headline from cohen's lawyer, lanny davis on tv this morning. he says mr., cohen, michael cohen does not want and would not accept a pardon from president trump. now let's bring in liz peek. how bad is this for mr. trump politically? >> politically is the big question. legally not even clear how bad this is for president trump, legality of making payoffs to women is unclear. was

this half an hour a big week for retail we saw strongly results, from target, kohl's parent company tj maxxngs raising annual profit forecast as well joining me terry lundgren former ceo of macy's thank you for being here how would you characterize backdrop in terms of retails consumer spending. >> would i say encouraging consumers spending confident feeling good about buying discretionary items almost across the board retail rebound is here, and they have not only we have seen good comp store sales great earnings forecasts that have been raised in terms of expectations going forward so i think a really good picture. >> interesting because earlier this year we were worried about consumer, consumer feeling pressure this is really important, that is going to slow down the economy we didn't see that at all we are seeing pretty good back to school season too. >> for sure, you know i think what we saw maria we saw a monthh number of things consumer enhancinging habits baby boomers replaced in numbers by millennials spent differently so had to deal with that in your forecast, number one, number t

we have seen that with tj maxx. this index for consumer confidence a blowout number. 133.4.is a very big deal, isn't it? >> even greater than expected. and july was revised slightly higher as well. to larry kudlow's point, the economy is getting growthier of all time. stuart: at the top of the 9:00 hour, larry kudlow, chief economic advisor to the president, he was on the show. he used the word growthier. of course there's no such word. it was a pretty good one to use anyway. >> i'm going to use it anyway. stuart: i will take his word. [laughter] stuart: look at this, record highs on wall street. the s&p 500, the nasdaq composite, amazon stock, apple stock, all of them record highs. apple's pretty close to $220 a share. and then you've got caterpillar. today it's one of the biggest gainers in the dow. why? because trade tensions are easing. okay, it is now up just 85 cents. but up nonetheless. how about tiffany? they raised their outlook. that always helps the stock, and they have got higher same-store sales. lots of jewelry sold in north america and asia pacific. the stock