romaine: talk a bit about tjx again.sn't posted a drop in same-store sales going back to 2009. i want to know what this branch, what its brands are doing so well to continue that growth streak. >> it is not just tjx come burlington, ross, what is appealing is the treasure hunt concept. consumers love going to the stores and finding that deal, something exciting and something new. that is really what has been fueling the growth across all of those prices, including tjx. we think that will continue to be a trend for the future and the long-term. >> trade is bound to affect retailers to come up with a source their materials, they are discounters to. >> they are discounters but it is different because they buy inventory. there will always be excess inventory, especially today when online is growing and the returns there have trouble finding a new home. >> does online, can any of the kohl's and what with their strategy online? >> online continues to be a strength for retailers, penetration is rising at department stores, 20%

>> two big names in retail tjx and kohls are moving in opposite directions we're going to discuss whynd whether retail is a new leader in this market. >> yes. >> all right we don't need to talk about it anymore. >> no. the s&p heading into today's session 16 points off a record high that's less than .06 meantime, there's focus on comments from the president who told reuters yesterday in an interview he's not thrilled with the fed's rate hikes adding he doesn't expect much progress from this week's low-level trade talks with china going to be meeting with some of his opposite numbers we'll see how things evolve from there, jim. >> it's exhausting. >> it's exhausting but it is not unimportant. >> no, no. look, it's important it's just that you hear the low level talks. they're low level. he's going to try to be a little -- >> the idea is to pave the way for another series of talks. then gets you to november when xi and trump, i think, are scheduled to a sit down. can try to put something together you're dubious. >> we don't know estee lauder was about the 25% tariff on cosmetics. there'

remain strong throughout the end of the year and he also hiked the profit forecast for 18, shares of tjx06.46. kohl's decision scale back promotions seemings to be working and the retailer sold more merchandise at full-price this quarter and that helped overall earnings top estimates and the company also raised its profit outlook all year, but the new figure was shyf wall street expectations and shares climbed more than1.5%, nonetheless, to $80.20 and j.mr smuc topped profit estimates end missed on ref nigh as demand for its c products like jif peanut butter and folger's coffee. the company cut its sales guidance for the full year. shares of j.m. smirk off more than 6% on the session to 108.20 and the medical device maker nddtronics that arrives in sales for its diabeteseart product, helped edge expectations and the company had the organic revenue growth output for 2019 and shares finished up 6 force 95.17. >>> if earnings results from toll brothers are anyn indicat and the housing market in america is alive and kicking 379 the luxury home builder sent the stock up 13% in today's session

. >> tj maxx, tjx, one of the most incredible business stories over the last decade.ade investors a ton of money. >> yes >> particularly through homegoods. do they continue to outperform >> absolutely. another one for the teen and millennial customer. one of their first choices when we talked to them is they're shopping at tj maxx. they 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 t

tjx you have the international aspect of it and ross doesn't have as much presence in the midwest.r 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. have fun be safe. we'll see you monday i'm a small business, but i have... big dreams... and big plans. so how do i make the efforts of 8 employees... feel like 50? how can i share new plans virtually? how can i download an e-file? virtual tours? zip-file? really big files? in seconds, not minutes... just like that. like everything... the answer is simple. i'll do what i've always done... dream more, dream faster, and above all... n

i know the gaming chips look good i'm interested in something like tjx.o have a 2% comp and it's 6% it's related to apparel. apparel is strong. people just -- this is an extraordinary retail quarter it's the best i've ever seen. >> yep. >> you know we got a possible nafta deal and it's august but, i mean, there are many things coming along here, jim we don't necessarily affect politics but the manafort thing won't go on forever. >> no. what will is the tax reform. >> is it >> yeah. i think people don't get the money is not being just given in dividends. companies are hiring companies want to build. i think that there is a sense that it didn't matter on wall street or results in buybacks. that's complete wrong theory and, you know, they always on any tariff story, they can find five or six small businesses that are hurt. they don't realize there's a larger picture if we can make it so the chinese stop with the joint ventures, the chinese have no -- get rid of the tariffs if the chinese stop with intellectual property, it's going to be a better world for us

today, sharesings of tjx gaining.esults were good, but shares are trading down because they are almost double from where they were last year. investors have probably built in higher expectations. tjx, 7% was just fantastic. a two-yeartop of stack of low to mid single digits. the strength there is the region for this movement we are seeing in the shares today. reportingand lowe's better than estimated earnings. target, really impressive numbers on the same store sales front, 6.5% gain. is it a one-off? >> i don't think so. we have seen them building towards this for some time now. they have then remodeling stores , better lighting, displays, and they are getting to present to 4% lift in sales where they have done that. their e-commerce operation is improving two. >> this year's best performing airline is qantas, but shares of down by the most in a year despite posting record annual profits. the carrier is planning to return as much as 500 million nausea dollars to shareholders -- aussie dollars to shareholders. >> when

are seeing much better spending >> well, they aren't department stores but mall based on khols and tjx as well. discovery communications quite higher today actually. the reason at least it would seem they went from a buy to whole, raise price target from 24 to 26, noting a number of opportunities here they can could boost the company's free price flow, script synergies, recent buy backs sooner than expected but no doubt they're happy to see that stock after a poor reversal last year up 32% now for 2018 >> have the media stocks survived in general? >> yes, even the distributors are starting to show some life the programs themselves have not had a bad year other than cbs, which is somewhat of a different story. >> drama onto itself >> distributor companies all down other than verizon if you want to consider them. time now for a news update let's check in with sue herrera. >>> david, thank you very much here's what's happening at this hour, everyone nbc news reporting president trump's former personal attorney, michael cohen, has reached a guilty plea deal with federal prosecutors in new

>> when i think of tjx all it does is it goes to higher highs. that's something they're building on and that's not what tjx is all about and people are wanting to go there for thosz discounts and the treasures. it's the hunt, right but the targets of the world and the walmarts of the world have found a way toe compete well and at the game of the online side of it and the bricks and mortar side which amazon doesn't have they bought into it somewhat and they don't have the bricks and mortar side. >> that's why i say it's a tech company because it's a tech company all because of awm >> let's bring it back to retail and let's not forget toys "r" us which employee 30,000 people in america. it doesn't exist anymore it went poof, right? maybe the target and the walmart wera -- automatic just worried if amazon, and it's going to have a deep effect do we need macy's? do we need nordstrom's or dillard's? think, we do >> i thought -- and the other thing i want to say is toys "r" us are out of business and toys "r" us are poorly run and a terrible job of inv

beating on earnings and revenue in premarket trading tjx earnings 1.17 a share versus estimate 1.05h earnings and revenue, also raised guidance, the stock, has been trading up going into the numbers, and is down this morning, despite the strong report. down 2%, it is a muscle watch buying ford gt super car get a custom watch i will check it out from behind the soothe in a bit, top news this half an hour trump economy, the but willrun record week futures pointing to gains up 40 points dow industrials as unemployment rate is 3.9% and economic growth in second quarter, hit 4.1% big question, what are the risks to the economy are we looking at slowdown on horizontally joining us former achieve economic advisory under george w. bush, ed thanks for joining us. >> thank you al fun to be with you thank you. >> what are you expecting because there is this -- this narrative out there that things are going to slow down go 2020 as fed raises interest rates even if it doesn't feel so right now what is your take? >> well, i think we are still not at the peak we are still growing, and probable the

tjx, 7% was just fantastic. that is on top of a two-year stack of low to mid single digits.pected that. the strength there is the region -- the reason for this movement we are seeing in the shares today. >> target and lowe's reporting better than estimated earnings. target, really impressive numbers on the same store sales front, 6.5% gain. the best growth for the company in 13 years. is it a one-off? >> i don't think so. we have seen them building towards this for some time now. they have then remodeling stores, better lighting, displays, and they are getting 2% to 4% lift in sales where they have done that. their e-commerce operation is improving as well. >> this year's best performing airline is qantas, but shares of -- shares are down by the most in a year despite posting record annual profits. the carrier is planning to return as much as 500 million aussie dollars to shareholders. >> when you look at the cash flow position of the company, generating $3.4 billion of operating cash flows, spend $2 billion on new product and aircraft, there is a strong net free cash flow,

tjx, parent company t.j. maxx and homegoods, up. target up. it's what could push the market to new highs and beyond this year bob pisani who no doubt, went to a number of bee gees shows back in the day on roller skates joins us now from the nyse >> no, neil young and nuwave, blondie, talking heads and no, not the bee gees, sorry, brian >> they hit an all-time high and the xrt is up 13% and the last three months hit an all-time high today that's important because the xrt is equal weighted index of about 90 retailers you don't have one big name and you don't have a walmart and amazon pushing it around too much i like this action amazon is on fire this year, but the big retail names like kohl's and abercrombie and 5 below, they're all soaring 30% to 50% this year. what's going on? first, the second-quarter earnings and i don't mean in general. the 108 retailers that retail metrics track are seeing earnings gains of 18% and that's almost as good as the whole s&p 500 gain of 22% so the retailers are making money why is this happening? well, the big

now seen -- let's tick them off -- incredible results from target, lowe's, urban outfitters, kohl's, tjxalong with stellar earnings from walmart, nordstrom, and home depot. and just now, just this very night, williams-sonoma, home goods, which had a colossal earnings beat and is soaring in after-hours trading, which i think you should have known from when we had the company on the show not that long ago what a story now, target's typical. and i'm also expecting about a 4.1% same-store sales growth, uh-uh, 6.5%. what a beat! traffic was strong both in store and online sales trends accelerated in all five of the core merchandising categories, up 41% online. as ceo brian cornell told us on the conference call -- and i quote -- comp growth in our home category was amazingly strong, up nearly 10%. headlines also -- hard lines also saw high single-digit comp growth driven by strength in both toys and electronics, end quote. guys, these are incredible numbers. i don't even -- i've never seen anything like it the source of this strength, cornell pointed out that, i quote, like others, we're curr

. >> these world-class retailers, the targets, the walmarts and tjx, it doesn't happen overnight andt free and it takes time. it took amazon 15 years to scale and amazon still spends a lot of money. the brick and mortar guys are in, we're still in th early stages of rolling out our strategy. so next year you'll see more of what we' sewing this year. >> it's far from the only retailer to turn in a strong quarter, the strength of the u.s. consumer and broer economy is a large factor. >> it'sealthy consumer environment. i've been doing this for a long time and it's the healthiest sector i've seen. we're building market share in every cat gore. >> when it announced its investment plan early next yeare inors were skeptical and while the most recent results may quiet critics today the question remains wther the strength were both target and the u.s. consur is sustainable. for "nightly business report," i'm out me reagan. >> the number of retail stocks hit all-time intrad high, shares like nike, best buy, kohl's and costco. william's sonoma's results impressed the street. after the bell, th

julie: tjx. 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 is around the same level for some time. give us your sense of where they are? steve: the consumer is in great shape. retail sales, first half of the year, north of 5%. that would come out of the mastercard numbers. you are seeing a consumer that is seeing best results since 2012. it is a healthy consumer. they are shopping, buying. results second-quarter reflect that. first quarter results reflect, for six months reflect a strong earnings report. julie: one of the limiting factors for retailers has been cost. t

tjx, the consumer spending it is a remarkable moment.isible of the companies i follow. >> yeah. yeah. >> we are in the middle of back to school and all those inventory purchasing decisions are being made now. >> yes. >> denim and outlook though, i wouldn't -- just curious the way they decided to car of this up >> i've always said pvh, stuff like that. manny turico, he's made so much money. these are the slowest growing. biggest cash cows. it will be like netanyahwco, thl generate a good yield. vf used to be famous the rest will be a fast grower if the stock comes down it may be a great opportunity because of how well this company is matched. >> you said we're going to get macy's this week we'll get cisco which today is up 4%. >> cisco syy, if you want to look at how the stock has been done, it's been remarkable they have very good organic growth that's the food service one. cisco's important as sysco memo to chuck robbins besides the fact that your falcons are going to be beat opening day on nbc, you do have to be careful because everyon

it's incredible numbers from urban outfitters tjx multiple price increases today.ncluding a lot of bears who were saying, listen, you know, i got it wrong. >> this after yesterday. and kohls which turned around. >> yeah. >> listen to what cornell had to say about the consumer. >> okay. >> incredible impressive, david. it's a healthy consumer environment. i've been doing this for a long time i think it's the healthiest environment i've ever seen importantly for us, we're building market share in virtually every category. >> all right. >> listen to that. remember they do a lot of like cat and jack when you buy it, you know that's made by them. >> it is >> cat and jack is theirs. >> i didn't know that. >> see. >> i didn't know what it is. >> they have a lot of private label stuff that sells well. they've been the most forward in trying other than j crew trying to get people to design things for them. it's an incubator, david. >> second gross margin 30.3% compared with 30.4% from a year ago. sgna 21.7 over 21.6 a year ago and their tax rate fell. >> aren't you a rain o

on retail while omega seized opportunities green light took new positions in gap, dollar general and tjxhe parent company of tj max, marshals and head good it also owned 350,000 shares of citi into the stake and lennar apple where they sold about 500,000. for emega there was some significant selling in pharmaceutical companies, shire and bristol-myers. >> okay, leslie, we'll let you get back to that and we look forward to hearing the headlines when you come out of it. back to our guests in terms of the news from those hedge fund investors, carrie, what's your take in terms of how they're doing of late? david einhorn we know has been struggling with performance. shouldn't they be performing quite strongly >> well, they're often very concentrated so it depends where they've made the big bets. if we look at what's going on right now einhorn brought retail, out of favor retailers not tjx, we owned it until just very recently. i think he's making a bet these are categories that are going to benefit from consumers spending more and omega, i think that's a reasonable bet energy stocks have not

the asian markets for growth. >> so you'd rather have names like that than more of domestic plays, tjxnd kohl's? >> yeah. the stock was at 80, goes and buys -- he buys tommy hilfiger and then he buys calvin klein. klein in different pieces in asia next thing you know the stock has doubled. tapestry has a very good look. remember, that's the old coach very good look at back to school $800 million men's business going to -- a huge amount of money being spent online for advertising. it was up 12% yesterday. think of the stocks that have done really well i know that people want -- they see the futures down wow, i guess i'm not thinking about turkey no, you are. you are thinking about turkey, that's why the market is down. it's got to test itself. but unicredit has some exposure. i'm surprised that the spanish banks have been better lenders than this. if you think unicredit can bring down italy, the eu is going to bail that out. >> one thing we haven't mentioned the whole turkey story happened just as we tried to retest the january highs >> yes. >> now people are putting up charts island to

tjx, kohl's both reporting better than expected numbers now nike and costco at new highs.ohl's has come off a little, about ut still, it's been a good day for them >> i'm morgan brennan. let's get to bob pisani for more on the record-setting bull run hey, bob >> and the important thing is it's the longest one unless we drop 20% going into tomorrow starting tomorrow this will be the longest bull run ever here is this really worth celebrating? i think it is, but just bear in mind there's different interpretations of it. first, there's no standard definition of what constitutes a bull market overall. there's that 20% rule, but there's nothing magical about that it says a bull market begins once we rise 20% from the bear market low, but there's amount ti ways of looking at it one simple way of looking at a bull market, you got to pass the old highs. look at this remember we hit the historic highs? that was way back in 2007. october 2007 some people say that's a good way to judge the bull market it begins once we pass the old highs. again, different ways to look at it for the a

tjx, look at that stock., these companies are horses >> that's true target, some of these others, have been amazing. >> target looks great. people are oh, cramer said buy target no, i'm saying is you have an amazing confluence of momentum money going into retail and nobody wants to go against it. target is not expensive. coal's, not eggs spencive. nordstrom is a controversy if they miss again, it will be -- i think they will called into question about whether they know how to run the store. >> you said the gang couldn't shoot straight in the air. >>> like their shirts. >> interesting news in restaurants. brinker, 119 matches revenues a little bit of a miss comps flat for the rtd quchl we were looking for 1%. mcdonald's today sort of reiterates what they have said about their investments in domestic restaurants but a few billion dollars to recreate the look of mcdonald's. >> i like that yesterday scott wapner -- some clown says all you do is pump scott wapner i pumped him four times instead of three what happe

tjx is growing its market share with millennial shoppers. that is impressive.enney andcy's kohl's losing out? >> their format does not have as much of an appeal is the t.j. maxx are marshals format. we are finding that shoppers love the treasure hunt we are finding that shoppers love the treasure hunt experience where you don't know what you're going to get and you have to hunt through the racks to find the one dress left in your size. macy's and jcpenney have not been as good at replicating that. t.j. maxx has some of the best buyers in a retail business. they have strong merchants who know how to identify the right inventory and get it on shelves quickly. rolling have not been as fast as the federal reserve would like. the discount stores are cheaper than calls and other stores. is that the reason? >> i don't think it is. here is a reason. been seeing growing market share among the 100,000 household income and above bracket. they have really been connecting with a more affluent shopper who likes the labels and has been finding the shopping experience subpar.s

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

monopolistic >> next week, also big moment of truth for the retailers with quarterly results from kohl's, t tjx and foot locker. what we've seen this week is the ones that traded well into the earnings report sold off on good results. the ones that traded badly, walmart, into the results, did really well. >> so it would make you understand why people were protecting in the case of target, mel, because it's a huge outperformer in the quarter. tgt. my brother, pete, he's all over this one of course brian cornell, his friend over there that runs target this one is one to watch next week along with loews. >> i like to watch foot locker not a stock you normally think of as a big performer. the reason i want to watch it, it gives you great insights. nike and under armour said things are going fairly well they've become such a big distribution that i think you have to look at other companies. i think that's a smart way to look at other investments. >> nasdaq and retail, they're up the same amount so far this year so if you had to choose, would you rather on these two, what would you say? >> i've voted

doing well because the economy is doing well consumer is super strong look at walmart, macy's, kohl's, tjxcross the board, these companies are saying good things, traffic is strong. inspid of amazon which continues to grow andly. this year, next year, they'll be dougt digits market xwifs you looks at stocks because of the reactions those are the times when you take advantage as you buy. today i was buying chevron goldman sachs. kohl's, across the board k there are names i find i think the market b continues to go higher because i think there's value there. >> not trying put words in your mouth, but you named macy's. it had a great start then stuttered ten days ago and fell from 41 to 35. is that one of the ones you'd look at now after the adjustment >> kohl's and macy's are up for the year, so expectations are really, really high. i think you pick one in this space and the one i'm going with would be kohl's. i think they have a game plan of fighting amazon and getting traffic and growing sales. you pick the one you like. the strong management teams, the good balance sheet, but i think the

. >> and i used tjx as a measuring stick on that as well because i see a lot of under armour in there is that where you want to see it >> weiss, what do you make of this young china report? >> i think bell house, they are a real firm. they've been in that area of the world for a long time. supposedly, young china turned down i think where there's smoke, there's fire in this one private equity is really accelerating in that part of the world. >> box having its worst day in nearly six months. >> dude, you know how hard you have to look for a technology stock with a chart this terrible you have to really sort through like 1,000 stocks to find anything in software that's not working. this isn't working and drop box isn't either by the way. i gave you the name this this group. service now. pull that chart up instead >> you were in box >> for like ten minutes. >> just saying, you were in it >> i took a break even on it soon after the box ipo there are companies -- >> don't let scott interrupt you again. go ahead >> it was six months ago >> you have a great memory >> it goes back longer than

tjx is the stock symbol. the stock up 4 1/2%, nice gain there.owever at kohl's they came out lukewarm forecast what they're seeing in the future. when you do that, the stock tends to go down. kohl's is down 2%. >>> we have nabisco animal crackers getting a makeover. welcome back, susan. tell me all about it. susan: same great cracker, more than a century behind bars. apparently the animals are let lose in front of barnum animal crackers made by mondelez. they were lobbied by peta in 2016, wrote a letter, maybe we should change the packaging to reflect modern taste and modern expectations. 100 years. i love animal crackers as a kid. i never noticed the bar. i don't know what this video either. ashley: that is peta. stuart: animals used to behind a cage this circus. peta doesn't like cages. ashley: as long as they taste the same, i'm okay with it. stuart: as long as they, let's get serious, the trump administration rolls back restrictions on coal-fired power plants. president trump tweeting about that. big rally tonight in west virginia. patrick mo

tjx, these are some of the best performers.e taking market share away from traditional market stores. this was a good sign for nordstrom and its long-term future. alix: if we come inside the bloomberg, amazon, the white line is the retail srt, and the red line is the s&p etf. srt.n growing 1.3% of the what are the opportunities in retail? shannon: if you go back to the narrative of last year, regular retail was dead. amazon was going to take over all of our shopping experiences. what we are seeing is companies really think about what ways they can compete in a global environment. walmart is a great example. they have a distribution network through their store that allows them to do perishables and compete with amazon in that space. ross stores is another great example. they are not trying to compete with amazon. they are trying to create a differentiated shopping experience for consumers. the story that retail is that, i think retailers need to work harder and fine-tune their go to market strategy for consumers in this day and

the week has been the strength of the consumer overall we've talked about it so many times, whether tjx kohl's, yesterday target or even lowe's but l brands i guess -- i mean ventures into territory i'm not that familiar with because i don't shop for bras. apparently there was a good margin on them and they don't sell as many of them anymore at a high price >> in an interview a few years ago, 99% of the customers are women. it is just valentine's day, christmas it gets some men i'm very troubled. they lowered the four-year guidance for the second time this year. pink, which been on fire, now negative, senior management switching people from are bath and body which has been the good part to other ends victoria's secret decline in bras was partially offset by panties and sleepwear. merchant margin decline bad. david, to say that they're in trouble is to be a little bit -- >> run by one of the greatest merchants of all time. >> absolutely. >> 80 years old. but here is the problem. the problem is that you have to keep up with the times you have to spend a fortune like laura alpert, a fortun

back over to you >> the expectations only got higher than tjx reported, and this pull back is the stock it back to where it was two weeks ago. >>> shareoffs alibaba reporting lower. on comments from president trump saying there needs to be focused on trade and crack down on china. >> joining us now to discuss it all the chief equity strategist at zacks investment research john, there was also some talk before the president's comments today that the company itself was sort of saying there's going to be heavier investments, concerns about margins with alibaba there's often a bit of juteany about the financial numbers themselves so where does this report leave you and has the big pull back in the stock been a warning or an opportunity? >> first of all, michael, i would say it's an opportunity. i've got $210 price target on the range, back to the june highs by the end of the year and i've got $250 of my target at the end of 2019 that's a 20% growth target now, why do i like that because i see the 20% earnings growth in their numbers. what you've got to understand about alibaba is that peopl

during the course of the week for retail whether it was target or children's place or lowe's or kohls or tjx think the big question is the comment from the head of target it's the best environment i've ever seen in my career. whether that gets people just too convinced it's going to get better heading into the holiday. on the nasdaq i think a dozen names in the red overall there's a discussion today about whether or not we have a breadth problem. as we have the new highs the number of individual names at new highs is maybe less than you might expect. >> it is less than you might exec and certainly less than january. it fell apart quickly and repaired itself. but stocks have been left behind this is a lower momentum return to the old levels. it's pretty textbook in that way. there's enough of the bulls and bears in there the bulls say that's what happened you have the momentum peak but the market can make progress on the own merits after that once it corrects. and the bears will say, look, this is 2000 2007 you had the return to the high index level when you didn't have the strength underneat

not to forget whether it was children's place, kohls or tjx or lowe's or target it was a positive week bigger names but l brands and gap >> we talked about it, you know, with regard to gap last night, sara, it's kind of -- it isn't necessarily the one you want to own to benefit from a consumer boom they're kind of a retailer for bad times. it's basics. it's value and there's too many stores. and the gap brand, like you said, is the one that acted as this anchor. they focussed on lots of cash flow it's not an expensive stock. but not a lot of growth leverage. >> so beyond some of those movers, everybody is talking about jackson hole we are expecting fed chairman jay powell to speak top of the hour about 20 minutes is the economy is the strength we're seeing durable? because of the fiscal policies stimulus injection we've seen. steve liesman has been having conversations with regional fed presidents all morning here is loretta mester. >> it could be a risk to the forecast that's the way i view it at this point. we don't free judge things we come in looking at what the data is telling us

and names at all-time highs tjx alta on the back earnings report microsoft and. >>> gas prices hitting level since 2014 the average price over the labor day weekend specked to be $2.84. sorry, drivers united airlines is immediately hiking checked bag fees for flights within north america the cash even and central america. paying more there. the first checked bag rice $5. and second will rice to $40 each way. and lyft is in talks with an adviser for a targeted march or april 2019 ipo the company is currently valued at $$15.1 billion. over two ty. >> we begin with the developing story out of washington. will we get a trade deal with canada negotiations still under way but they seem to be burpee ladies and gentlemen let's go live to eamon javers at the white house eamon. >> they are sweating it out here in washington on this very humid day. at the end of the summer here in d.c. and we are expecting developments to be posted to us and updated to us as they happen throughout the appropriate afternoon thp chrystia freeland updated reporters not saying a whole lot. but the negotiations in aft

i mean, we're at some sort of renaissance here whether it be tjx, walmart, which has come down and theers call is another one. circle back and home depot vers versus lowe's. they're trying to clean the joint up i've never seen anything like this it's overshadowed by a lot of things maybe this is something we should think about instead of cohen and manafort the "washington post" tells you good luck. maybe put pressure on the midterm elections. maybe xi said i can wait out this guy i don't know what xi is thinking wow! >> i saw you last night. this is unbelievable. >> i saw your show last night. they opened a new one by us. it's perfect i would say the target this weekend. i was supposed to be there for five minutes to get one thing. my wife is like where is he? i'm going aisle by aisle. >> $480 dollars later you walk out. >> i used to -- -- the self-check it was a gorgeous target the cvs was amazing. everyone was helpful i didn't want to leave i left because i know my colleague david faber is not a big shopper and i shopped for both of us [ laughter ] >> he's not. >> he doesn't even kno

spending more, if the fashion is right, the fit is right, the price is right, as you reported yesterday, tjxrshall's, winning across the board. burlington, macy's, back stage, et cetera. stuart: who would have thought. we have not a story like this in a long time. target turned it around. burt, you have to retire the retail ice age slogan. >> i keep it 80/20. 80 suffering from the darwinian destruction, and 20% are going, benefiting. stuart: darwinian destruction, doesn't make a good banner. darwinian destruction. we turned south, not much, down 19 point. 25,800 is holding as of now. >>> new york governor andrew cuomo says america was never that great. campus reform hit the streets, asked young people if they agree. you will hear their answers after this. ♪ you shouldn't be rushed into booking a hotel. with expedia's add-on advantage, booking a flight unlocks discounts on select hotels until the day you leave for your trip. add-on advantage. only when you book with expedia. stuart: by the way, today marks the day when we are in, taking part in the longest bull run in market history, how abou

trading generational low may gosy's falling 20% last week as we'll -- earnings later on today gap, tjxwatch out for another week, another roller-coaster ride for tesla down from 7%, in the premarket, and this is j.p. morgan slashed their target price, on the stock, and they don't think funding is secured back to you maria. maria: susan thanks very much susan li on the floor this morning joining to us weigh in host of "varney & company" stuart varney, stu good morning to you new day new worries this morning for tesla. >> you know, i am beginning to think it could be the end game for elon musk as ceo of tesla. the end game for him in his current role. i am sure you are aware that over the weekend, huffington post saying come on elon calm down the country the world needs you, calm down. well he reapplied said i can't change my work habitats at the same time i understand that the relationship with grimes his girlfriend on the rocks not sure i understand that apparently on the rocks, so his personal life his professional life being challenged, and then goldman sachs lowering the price on th