and tony dwyer.ncerned others are about negative trial it he changes. -- net neutrality changes. citye is opening a seven european tour imager it yesterday and is gathering viewpoints on a ruling that opposes -- said it opposes requiring it to gather information. sprint announces it will take smartphone trade-ins. that is today's company news from the files of bloomberg west. 2011, what is of that, three years ago? think $2 billion forward. gamers go crazy. it is mine craft. once they developed it, it is an keene on in the teen -- household. turn that off now. do your homework. microsoft may buy mine craft. once again, that is speculation. >> $2 billion for something your kids are addicted to sounds cheap. has cracked craft something with the audience. profitablecredibly company and microsoft believe they can turn it into a franchise. we will just has to -- have to see. i'm curious what their strategy is more generally. because --y especially because xbox was supposed to be part of their that form. -

tony dwyer over there at canacor dishgsa. and what do we make of that, 20 more points on the s&p 500 by the end of the year? >> well, crazier things have happened. >> i am not saying it can't happen, and not that tony was ever bearish, but there are bear s who have capitulated and bulls growing more bullish, and at some point al a long the curve or the four points of the bull market, and do you start to worry that we enter fourth phase of euphoria? >> well, you always worry, and everyone is bullish at this point. there aren't any bears left on the street at main stream shops. maybe you could throw in albert edwins, but even he has given up. and what are the targets based on? most of them on the multiple expansio expansion, and scott, that is nice, but i think that it is going to be much tougher when we are going to get closer and closer to the rate hike cycle than it used to be. so maybe you are going to be getting the multiple expansion, but you should guard that the growth in the multiple is going to be slowing down, and on

to get more on that, let's brick in tony dwyer. ny, m&a has been one of the factors that has been providing a boost to u.s. stocks. word about the white house might try to push back on these tax inversion deals. what do you think that will do to broader sentiment around the u.s.? >> it may have a temporary impact. but ultimately, it comes down to the credit markets. is credit available? what is creating this m&a, the stock buybacks which help earnings per share. all of that is coming from corporate credit. as long as companies are able to borrow from investors and borrow from banks, that's why i'm so bullish. as long as money is flowing, you ultimately have a better economy and better earnings. >> you mentioned share buybacks, even though it's something by chief capital. surely that's knot not sustainable. it's false increased roes and it's not going to continue. >> and it's typical of every part of the cycle. in the first part, rates are low, companies want to borrow. they borrow a lot of money, buyback stock, do a lot of m&a and e

what was interesting, what people are saying here you heard tony dwyer this morning putting out his targethe s&p of 2185. when you talk with traders, they still say the path of least resistance is to the upside. you talked about energy right here on the floor show, and with that, liz, we've seen the transportation index hitting a high today, that would be the truckers, the shippers, the airlines. cheaper gasoline does well for those types of companies. so that's the environment we're in. as far as what we're seeing going forward, everybody continues to look to all the economic reports. don't forget the jobs report we got on friday was terrible. and everybody would start to say, well, what would the fed do? maybe they won't raise rates so quickly. but it wasn't as bad as they could have been, so maybe they will raise rates. that leaves everybody in that uncertain area as to what the fed may or may not do. that being said, though, the trends still seem to be the upside until we start to hear otherwise. we've got intel and microsoft hitting new highs. liz: well, see, we've talked about this,

we'll ask tony dwyer. and we have your apple playbook just ahead. the three things you need to know ahead of today's event which kicks off in a little more than an hour. plus, what is going on with mcdonald's? are you loving it? some of our traders are not. we have a fast food debate on deck all straight ahead. jon fortt, we'll see you in a bit. >> thanks. while we a wait the big announcement from apple, a couple of announcements coming out of at&t this morning as they unveil they will carry the phillip 2 watch time x, iron map data and intel bracelet exclusively. so what does the future hold for wireless carriers and wearables? i'm here with glenn lurie, at&t mobility. first interview if your title. congratulations. >> thank you. appreciate it. thanks for having me. >> you also go way back with apple. i believe it was 2005 when you first started talking to them about the possibility of the iphone. you are in charge of that relationship. how much has apple changed over those nine years and how important is today's announcement to them? >> well, firs

for more on currencies check outed online show speaking to tony dwyer one of the bullish analysts out there and he's got an interesting way to play september. that's at 1:00 p.m. "futures now."cnbc.com. back to you, scott. >>> nike holds on to one of its well-known spokesman, but underarmaire has another trick up its sleeve. didn't see that coming. >>> we help you make sense of ifrg going on apple today, plus speaking with gene munster about his price target. that and more ahead. ♪ when the world moves, futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with paper money to test-drive the market. all on thinkorswim from td ameritrade. >>> welcome back. do our trader blitz. three trades on three stocks making news. first up, dunkin don't, opening first location in southern california today. plans to open as many as 200 more in the state over the next several years. >> the opportunity for dunkin' brands to expand west cannot be overstated. starbucks, 11,000 locations in the u.s. dunkin over 7,500 and almost nothing in that loca