. >> very good afternoon i'm wilfred frost. let's look at what's driving the action the latest read on consumer prices showed a jump of half a percent which was larger in line with expectations. more inflation up 4.3% decelerating slightly from june. caterpillar, home depot and honeywell are helping boost the

welcome to "closing bell" i'm wilfred frost, all green on the market today let's look at what is driving the action leading the nasdaq after a brutal stretch here we go again, surging laid in the session airbnb says it will temporarily house 20,000 afghan refugees brian chesky will join us, a first on cnbc. chipotle has been on a tear lately >> with record closes in site, and yet we almost got there. joining us with the bubble warning, with richard bernstein. first, mike, what are you watching amid the rally. >> sara, today a more of a rotational feel for this little extension. we have kind of clicked back into gear, if you look at the s&p 500, right back on this very persistent rally path. we pointed out for months on end, the market tends to hug the upper rail of this pathway, a bit much more from here. wouldn't take a lot more to look overextended, but i want to underscore the persistence of this. >> that's been the give-and-take, also really detaching from the rest of the world. over the last performance, of the s&p 500 versus equity markets from the rest of the world. everything in

. >>> welcome to the "closing bell," i'm wilfred frost the major averages are mixed to kick off a new trading week. the dow is down fractionally as we head into the final hour of trade, but the nasdaq is holding on to slight gains. >> i'm courtney reagan in for sara eisen energy is the worst-performing sector in the s&p 500, as oil prices retreat on global growth fears. but also having an impact on reopening stocks cruise names, airlines pulling back while vaccine makers are getting a boost. crypto is another bright spot, crossing above $46,000 for bit bitcoin. 59 minutes left to go in the session today. >>> coming up on today's show, we will speak with the ceo of ticketing company eventbrite, about rising concerns of the virus, and new orleans scraps its event and new york's auto show is scrapped >>> getting a nice lift today. mike santoli is back, tracking all of today ace market action and ylan mui has the latest on the infrastructure bill as it makes its way through the senate michael, welcome back. >> courtney, thank you very much the market holding near record highs, it's loot t

that's your question, wilfred.with the battery industry but not a huge risk >> talk about the growth trajectory sales are expected to grow from $12 million to roughly $75 million next year. you are expecting that to ramp to $1 million by 2025. how does that happen and how does that enable profitability >> our unit operations are unit profitab aable on a unit econom basis. our business scales with tons. the more tons we recycle, the more we make revenue in ebitda the ultimate example one factory they have already being constructed at the tail end in ohio. that facility and others, these giga factories of scrap really fills our first larger scale facility in rochester, new york. that's the contracted part of our revenue. as they are scaling, we need to keep up. general motors, a 30 ev models they have already a ohio giga factory. they've announced three more we are continuing to try and keep up and that's where we are. we're scaling in lockstep with our customers, and it's really proliferating more of what we're doin

i'm wilfred frost along with sara eisen and mike santoli, senior markets commentator record close for so energy, the best-performing sector, utilities the worst, down 1.3%. bitcoin rallied more than 50%. coming up -- as he get ready to -- initiates coverage of roy i want with a buy rating joining the conversation as well tom, i come to you -- the record close. a lot of the clients were very concerned about the economic outlook, as one that it was surging, and there's a lot of questions about how effective vaccines are i think in the past few days we're getting what things are called more half full. it looks like covid is rolling over florida pretty decisively the formal approval for the vaccine is great, because it allows private institutions and governments to kind ofmandate vac vaccines. >> a lot of people look to your photos for some of these covid charts, especially ones that indicate we're near some sort of peak you've been looking to the bright side at some point, hopefully we'll get back to some sort of new normal at the same time we have a lot of still his helping the market.

i'm wilfred frost. health care is eneleading, ener is lagging >> jumped in july in the latest read rising 1% versus estimates of 0.6%, jobless claims meantime i falling in the right direction, falling to 375,000. reopening traits are weak today. we have 59 minutes left to go in the session. >>> coming up on today's show, an action-packed lineup. a rare interview with billionaire lawrence stroll. we'll talk about his turnaround plan for the luxury brand. it's a busy afc with several reporting. as usual, we have an all-start lineup >>> michael yee from jeffries is here, but mock san told ir, they hit -- despite the fact it's a very narrow trading range. there's always been an intraday fate it's not all stocks moving as one. a the lo of this stuff is holding indexes in place >> a look at the nasdaq 100, actually an outperformer today >> see it never got sloppy, so to speak we had this break out above the prior high today's low is a couple -- it's part of the rotational action. semiconductors are struggling

great to be here, wilfred. slipping i know there's some stellar numbers there when looking year over year. of course, the share price as well over the long term has been fantastically well as for this quarter and that 9% share price reduction, is that because you think investors are focusing more on the streaming hours decline than the rpu increase quarter over quarter? >> our stock is notoriously volatile we had a great quarter it was a record revenue quarter in terms of growth revenue has grown the fastest it's ever grown driven primarily by superstrong monetization. our platform segment passed $500 million in the quarter, which is a huge milestone for us. and if you look at active accounts, we add 1d.5 million net actist accounts which is more than we added in q22019, the last pre-pandemic quarter. so i think our active account growth is also good. if you look at streaming hours, you know, people are watching less tv than they were a year ago because of the changes in things opening up and the pandemic lesse

wilfred? it's time to go into the market zone now, with, what, just 11 minutes or 10 minutes of the trading session remaining. >> stephanie, is it right to shrug this off, given we've seen places come down like in the uk? >> there's still a lot of liquidity in the system. i don't think the fed will change anything at jackson hole. i think we'll probably hear that in the fourth quarter of this year you have more fourth quarter stimulus, so all of that boils into a tailwind for the market i think there's a tug of war that's going on in the markets with investors you have delta cases on the rise in the u.s., peak growth concerns in the u.s. that's the negative. on the positive, you've got very strong economic data we have very good initials claims today they have actually were up at 16, that's for the 13th consecutive month, so good data on the economy that's not sustainable, but you have good guidance, very broad-based earnings, and this continued stimulus, so all of that boils into, you know, o

i'm morgan brennan, along with wilfred frost, also mike san toldi. from wilf, but record closes for the dow and the s&p. the dow finishing up about half a percent, for 162 points. s&p squeaking out a record close, 4436 is the level there very narrow trading range today. we saw interest rates ticking higher, cyclicals outperforming, tech and some of those growth names underperforming day. the reason the nasdaq finished the day, down 0.5% as well the dow transports also higher on the day investors now counting down to coinbase's results speaking of an earlier investor about the stock's outlook. plus national economic council director brian deese on the senate's package of the infrastructure deal, and what is next on president biden's economic agenda. charlie is still with us, as is xi pou >> the pendulum has swung back in the last week or so, as we got decent jobs, trying to look through the covid surge, we had the earnings base as being rebuilt, projections looking pretty good. i think it speaks to a market that continues to rotate in this very kind o

. >>> it does indeed tyler, kelly, thank you very much i'm wilfred frost, stocks are volatile, ending on a high note. >> happy friday. let's look at what's driving the action technology among the top sectors today. nvidia, microsoft, adobe, all standout winners right now >>> the energy sector down around 7% just this week, with big weekly drops and crypto is popping today. bitcoin and ethereum moving higher, with bitcoin moves higher >>> we have a big show coming up shares of footlocker are jumping today after earnings doubled wall street's estimates. we'll talk to the ceo about what drove the strong quarter for them. >>> plus wwe hosting its slam this weekend in vegas. we'll discuss their efforts to keep attendees safe. >>> and let's focus on the stories we're watching bob, start us off. >> low volume fairly typical, sudden spikes in volume activities in the middle of the week what we've got here is utilities tending to outperform. here's what's going on in a way, i said this is a typical august volume has been light. volatility, you get the random spikes only into october, you get r

>> certainly will play a role, wilfred. let's think about it, if we're going into tapering, in the future, now, we get this language, it's a bit about timing of the tapering, how fast it will go i think the dollar itself can gain strength, because i think it means that the fed has said the pandemic is -- the economy has more room to recover that should fuel the dollar. also there's the safe haven idea that we do have to keep in mind there are dangers out there, so that too i think is an opportunity, really the currency has lacked really over the last year or so it's going to have a prospect, or specifically th reconciliationcouple spending will ultimately mean for the economy, but all the other items that's mentioned is not. so i think we'll go to several steps to the house first to get a better sense of how large the package will be, but looks like, at least on the infrastructure spending side, that's coming there, so i think that's priced. >> if we look at the market performance for this quarter over essentially two month

nvidia is double the market cap of intel more than $500 billion wil wilfred?ddles if people were loorking at the average p/e of the sector as well >> yeah, for sure. it's vastly more expensive than the rest massive divergence in this sector a whole chunk of chips considered more legacy and old tech in general, it's never typically been sort of a group to buy just on a pure p/e basis. a lot of the companies so cyclical within it but right now nvidia is more the exception than the rule to what's driving the overall sector >> lindsey, what's your take on the smh more broadly and whether this is a good time to be buying into it. >> look, i think when you think about semiconductors, they are becoming so much more integral to everything we do in our everyday lives from our home to our cars to our mobile devices and gaming all these different things so i think there's really this secular story there behind semiconductors i know the etf can be really volatile over different periods of time. but, you know, i just think the longer term story for semiconductors really is

i've got to say wilfred, it was a strong close and a strong week for stocks but there was a lot of caution out there the dollar was up a percent. those things don't happen when things are all great have a great weekend sorry. i didn't leave you much time there. >> gm is down 2.5% as well >> we'll follow that after the recall on the bolt fires have a good weekend everyone that does it for us on "closing bell." "fast money" begins now. >>> live from the nasdaq overlooking times square, this is "fast money." tonight's trader lineup, tim, brian, and pete najarian, cofounder of marketrebellion.com. we're counting down to another big week of earnings with names like salesforce and peloton and more getting ready to report how should you be looking at these stocks ahead of the key results. plus going global, what the surging dollar means for overseas markets and where you should be putting your money and stick around for a bonus our of "fast" focusing on technology that will impact your life "the next" is live tonight at 6:00 p.m. eastern time >>> but we start with late breaking news out of genera

the couple — who also have a one—year—old son, wilfred — are expecting their new arrival around christmasit can only be helpful to open up the conversation about miscarriage. to understand, actually to know some of the facts, but also to understand the whole range of feelings that people have which are so often to do with who they are but also what this pregnancy means for them. this is bbc news. part two of the weekend is looking pretty similar to how we sell conditions yesterday, mainly dry with some sunshine but also some showers and they are likely to pop up around more and southern parts of england and further market should be drier. further north it should tend to be drier but with our winds coming down from the north it's not going to feel particularly warm for the time of year, but it's this whether front moves towards the south of britain which is going to generate these showers through the afternoon. again, some of them could be heavy and thundery so as we move through the morning, these showers will get going pretty quickly. you see the bright colours indicating some heavy show

the couple — who also have a one—year—old son, wilfred — are expecting their new arrival around christmasa bad afternoon. we have plenty of dry weather today with some good spells of sunshine, but this weak weather front in the south will bring further showers and some of them could be quite heavy. northerly winds across much of the country making it feel rather cool for early august, particularly around the north sea coast. variable cloud in the north with sunny spells, most of the showers in southern england and some could be heavy and thundery. temperatures range from 1a to 20 degrees in the south. into monday, we have the ridge of high pressure bringing some sunshine but there were still be showers also, particularly northern ireland and england and wales into the afternoon could see heavy and thundery showers. it's mainly drier than others with variable cloud and sunny spells. it looks pretty similar on tuesday and wednesday, sunshine and heavy showers, but by the end of the week it turns very unsettled with some wet and windy weather. hello this is bbc news with lukwesa burak. the h

. >> if wilfred were here, i'm sure he would have a big reaction to say. >>> ahead on the show, krishnahy he said powell was dovish >>> and bonds, a bit lower following the remarks. ten-year yielding just around 1.31% that is a dovish interpretation of fed chair jay powell we'll be right back. you have the best pizza in town and the worst wait times. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire >>> higher across the board, near session highs, s&p is up almost a percent 1.5% for the s&p, almost 3% for the nasdaq this week, and more that 5% for the small caps when we come back, china could be proposing new rules that would make it harder for tech companies to go public in the u.s. we'll break down the details with gary dvorchak we'll be right back. [wrestling bell rings] [music: “you're the best” by joe esposito] ♪ try to be best 'cause you're only a man ♪ ♪ and a man's gotta learn to take it ♪ ♪ try to believe though the going gets rough ♪ ♪ that you gotta hang tough to make

that's pretty good, aren't we always to expect it to plateau inch wilfred, a couple different things have happened that are in motion right now for example, we went from a couple millions people a day vaccinating. we went down to around 250,000 then when things started to really go bad, a certain segment started to realize, you know, that we're in trouble. we're not, the last few days, have gone up to like a million people so we peaked up, we went down, and now we're back up. next thing is that as soon as the vaccines get fully approved by the fda, which we hope will be very soon, two things are going to happen. people are going to say, well, i was waiting all along to get the full approval. now that it is, i'll get vaccinated i think you will have a certain proportion of the people who were not vaccinated that will do that next, what will happen is you will find enterprises, organizations, empowered to start mandating vaccines u. such as universities and colleges saying, if you want to attend in person, you have to be vaccinated you'll have places of employment, particularly big org

the couple, who also have a one—year—old son, wilfred, are expecting their new arrival around christmasscarriage, to understand, actually do know some of the facts that also to understand the whole range of feelings that people have which are so often to do with who they are but also what this pregnancy means for them. . , also what this pregnancy means for them. ., , ., ., , them. that is it from me for this houn them. that is it from me for this hour. i them. that is it from me for this hour- i will _ them. that is it from me for this hour. i will be _ them. that is it from me for this hour. i will be back— them. that is it from me for this hour. i will be back with - them. that is it from me for this hour. i will be back with the - hour. i will be back with the headlines injust hour. i will be back with the headlines in just a hour. i will be back with the headlines injust a couple hour. i will be back with the headlines in just a couple of minutes' time. meanwhile, get me on twitter at elboya jones. i'm lewis vaughanjones. this is bbc news. —— good morning. part two of the weekend i

the couple — who also have a one—year—old son, wilfred — are expecting their new arrival around christmas. to understand, actually to know some of the facts, but also to understand the whole range of feelings that people have which are so often to do with who they are but also what this pregnancy means for them. and we'll be taking an in—depth look at the papers with our reviewersjessica elgot, deputy political editor at the guardian, and martin lipton, chief sports reporter at the sun. that's coming up after the latest headlines and a full sport update. now it's time for a look at the weather with stav. not a bad afternoon. we have plenty of dry weather today with some good spells of sunshine, but this weak weather front in the south will bring further showers and some of them could be quite heavy. motherly winds across much of the country making it feel rather cool for early others, particularly around the north sea coast. variable cloud in the north with sunny spells, most of the north with sunny spells, most of the showers in southern england and some could be heavy and thundery. temp

. >> good to see you, wilfred. let's look at what is driving the action right now economic data coming in worse than expected. retail sales growing 8.5%. manufacturing also missed. slowdown energy the worst-performing sector of the market shares of tesla are weighing on the nasdaq, down sharply on the news of a formal investigation from u.s. regulatorsinto the company's autopilot system we have 59 minutes left to go in the session, and we are positive >>> coming up on today's show, boston fed at the present time eric rosengren will join us. he talk about very much more. >>> plus the ceo of hyatt. we'll have why is now the right time to bet on luxury travel >>> but, first, focus on the big stories we are watching. phil lebeau with the latest on the investigations into tesla. bob pisani is here on the broader market. >> the federal government wants to know exactly what caused 11 crashes where teslas, that were in autopilot mode, hit emergency vehicles on the highway. this is one of the accidents being looked into. th

>> no, i'm not, wilfred.ake sure that production gets returned much more quickly first of all, gulf of mexico production used to be about 25% or so of u.s. output now it's maybe 15%, so a lot of it has tilted toward shale secondarily, a lot of equipment has been put into the infrastructure there, so that it can be restarted very quickly. i'm alternates surprised that we're finding production, particularly gasoline, hasn't moved higher, but we have plenty of time for that it will be measured in days, in terms of restoring offshore oil production >> good point there with the refineries i'm wondering if you're a consumer, if you're looking at prices at the pump and how that may have a trickle impact, i know walmart pays close attention to gas prices. what do you expect are we looking at a big gatt lien -- gasoline spike >> i think they were spared from the price, and they may gravitate toward the $3 number, but i don't expect a super-spike or anything like that. it may be a wobble higher, and may take place this

. >> very good afternoon i'm wilfred frost.driving the action the latest read on consumer prices showed a jump of half a percent which was larger in line with expectations. more inflation up 4.3% decelerating slightly from june. caterpillar, home depot and

. >>> welcome to the "closing bell," i'm wilfred frost the major averages are mixed to kick off a newe head into the final hour of trade, but the nasdaq is holding on to slight gains. >> i'm courtney reagan in for sara eisen energy is the worst-performing sector in the s&p 500, as oil prices retreat on global growth fears. but also having an

i'm wilfred frost, happy friday. any close on the dow would be a record >> we're almost there.s look at what's driving the action disney, after strong earnings yesterday, though that stock has lost some of its years oldier gains. consumer sentiment coming in at the lowest level in ten years. consumer staples are the

. >> i'm wilfred frost let's have a look at what is driving the action today financials are in the lead rates move higher ahead of the fed's jackson hole meeting. the 10-year

professor wilfred reilly. professor, great to have you back.rel hubbard did not do so well in the competition. someone tweeting "the trans-athlete was eliminated from competition after not performing as well as the athletes will be competing in the lipid finals?" how is she going to grab all of the gold medals with her unfair advantage? >> it's an interesting one. both sides are going to try to exploit it politically. the argument for many will be she didn't win. this trans panic stuff is overhyped. the reality is that there is an advantage. hubbard is 43. was out of competition for months if not years. was able to qualify for the olympics for a pretty major nation, new zealand. she just didn't take home the gold. the only real question is how common this will become. will it ever swing a major event? i was interesting in seeing whether it would here. i think when it does, we are going to see some real reaction, real conversation around this, no doubt. >> shannon: people said hubbard didn't look ready physically and the technique wasn't there.

i'm wilfred frost.re is eneleading, ener is lagging >> jumped in july in the latest read rising 1% versus estimates of 0.6%, jobless claims meantime i fallin

. >> and i'm wilfred frost a much weaker than expected adp jobs number hurting sentiment.jobs added in july versus estimates of more than 650,000. though ism services did top

welcome to "closing bell" i'm wilfred frost, all green on the market today let's look at what is drivingnasdaq after a brutal stretch

. >> i'm david faber in for wilfred frost. energy and stock caps. let's get to the pentagon for a briefing on what is happening. >> can you hear me okay? >> john, i can see you and hear you fine. >> the general will have some brief opening remarks, will address the events today, an

i'm wilfred free throwsed, a mixed session with the down -- white the nasdaq pulls back. >> and i'm morgannnan in no sara eisen first of all, the senate passes a infrastructure bill which includes $550 billion in new spending that's boosting construction plays like steel energy stocks names like marathon, and treasury yields

i'm scott wapner in for wilfred frost. investors digest the fed minutes. small caps a bright spot as we head toward the close. hi, sara >> i'm sara eisen. let's look at what's driving the action the federal reserve releasing minutes from the july meeting just last hour as the taper conversation ramps up. most participants saw tapering this year. the delta variant does pose a down side risk to the outlook. more retail earnings out today target and lowe's topping estimates with lowe's surging on those results. and soft economic data point housing starts falling 7% in july, and mortgage applications declined as well 59 minutes left to go in the session. dow is down about 128 points or so >> and we have a big show coming up today blackrock's jeff rosenberg will join us with his first reaction to the fed minutes, when he thinks the tapering will start plus the ceo of imax and box offices. and robinhood. a meme stock gearing up for its first report since going public. an analyst and early shareholder will join us to break down those results. >> stock up 7.5% int

i'm scott wapner in for wilfred frost. investors digest the fed minutes.a bright spot as we head toward the close. hi, sara >> i'm sara eisen. let's look at what's driving the action the federal reserve releasing minutes from the july meeting just last hour as the taper conversation ramps up. most participants saw tapering this year. the delta variant does pose a down side risk to the outlook. more retail earnings out today target and lowe's topping estimates with lowe's surging on those results. and soft economic data point

their son wilfred was born that spring. she called her second time a rainbow berry.cknowledge a miscarriage. she also mentioned earlier this year. now back to. dateline >> >> imagine for a minute you're dalia dippolito. homicide effectives in the police interrogation room are accusing you of plotting your husband's murder. dalia didn't know it then, but her husband, mike dippolito, was still very much a life. and was about to come face to face with his wife of six months, who seemed to want him dead. >> i'm thinking in my head, i'm lucky, i'm lucky. i am like, i'm so screwed right now. the worst day in the world. >> before waking up that day, michael dippolito was clueless police thought his wife of six months had hired-y hitman to kill him. instead, he believed he and dalia had begun a loving new chapter together. they were about to start a family. she told him she was pregnant. was dalia at the gym when those tv cameras for the reality show "cops" captured the moment police knocked on my front door. >> police department. open your door. i'm sorry. and with the poli

good to have you back, mike, wilfred, see you tomorrow. >> "fast money" begins right now. >> overlooking new york city's times square, this is "fast money. today's line of dan nathan, guy adami, we've got our eyes on big after hours moves in palo alto network, we're listening in on the earnings call, plus a bitcoin breakthrough the crypto briefly crossing the key $50,000 mark since may we'll break down where the digital coin is going next crypto punk nfts are rocking out in a big way what is behind the craze can it last. we start off with a big green light for the markets. the s&p and dow jumping today, the na z da nasdaq setting a new record close. the move opening the door for broad vaccine mandates president biden today calling on more private employers to require workers to get a shot, that after new york city public schools and the pentagon made similar calls for their staff. what will vaccine mandates mean for the reopening trade. they were on fire today, guy, for good reason. >> hi, mel, how are you? >> it's interesting, obviously that's the news, that's the headline we're talking

. >> good to see you, wilfred.ook at what is driving the action right now economic data coming in worse than expected. retail sales growing 8.5%. manufacturing also missed. slowdown energy the worst-performing sector of the market shares of tesla are weighing o

. >>> it does indeed tyler, kelly, thank you very much i'm wilfred frost, stocks are volatile, endinglook at what's driving the action technology among the top sectors today. nvidia, microsoft, adobe, all standout winners right now >>> the energy sector down around 7% just this week, with big weekly

if you are just joining us to "closing bell," i'm sara eisner here with scott wapner today, in for wilfredn 900,000 jobs added revirus higher, wages shot up. the unemployment rate goes down to 5.4%. the do you rallied jpmorgan and gold man sax the bigger contributions the biggest drag was amgen and p & g. it was the financials that led the charge today, for a change, i would say. materials, industries all rallied. higher rates was a big theme today. consumer discretionary, real estate and technology were the worst performing sectors nothing extreme in terms of the valuation correction, but you saw pressure on tesla, amazon, apple, nvidia, all the hot tech stocks, google and net flex, the russell 2000 ending up about half a%. all the major averages closed higher for the week. the nasdaq even gaining a percent on the week. >>> coming up, we discuss the much better than expected jobs report and how the covid spread could affect the economy, when we're joined by cecilia rouse, council of economic advisers chair. el elena hernandez, first to you. the big jump in rates, rally in financials, alon

. >> i'm david faber in for wilfred frost. energy and stock caps. let's get to the pentagon for a briefing on what is happening. >> can you hear me okay? >> john, i can see you and hear you fine. >> the general will have some brief opening remarks, will address the events today, and then we'll take questions. i will moderated questions police, before you ask your question, identify yourselves and your outlet so the general has an idea of, and a reminder we have 30 minutes and a hard stop at 3:30, so general mckenzie, over to you. >> john, thanks. two sue i'd bombers, ace saysed to have been isis fighters detonated in the vicinity of the abbey gate, and the baron hotel, immediately ajdjadjacent at this time we know that 12 u.s. service members have been killed in the attack and 15 more service members have been injured. a number of afghan civilians were also injured and killed in the attack we're treating some of these at hkia, and some are at local hospitals. their loss weighs heavily on us all, and we'll talk about that more we continue to focus on

i'm wilfred frost, happy friday. any close on the dow would be a record >> we're almost there. we'll see if we can do it. let's look at what's driving the action disney, after strong earnings yesterday, though that stock has lost some of its years oldier gains. consumer sentiment coming in at the lowest level in ten years. consumer staples are the best-performing sector in the s&p 500 today. >>> dan niles will help us wrap up a big week of earnings. how he is adjusting 4th portfolio. >> mike santoli is tracking the market action, and jessica you recallic urlich is here. >> there are calm fridays in the summer, and then very calm ones. and in low drama ways. the market to be a bit of a his steep angle, so we're hugging that line. right now it's mostly more defensive in growthy stocks. i would also point out, this was last all, remember mid august into september 1st, we have this height surge, a jumpy, grabby market now like this one right now. it's a different path and pace some subthemes, buyback-related stocks have started to gain traction to a year-to-date basis, stability, q

consumer right, you can get growth and earnings right you add on on top of that, wilfred, how accommodativeancial conditions are and with what we know now about what we're seeing in delta variant cases, we would agree with jerome powell, what he said, that the u.s. economy is resilient to each additional weight, so all of that of stocks versus bonds in the portfolio. you're not worried about financial conditions changing, phil, if the fed continues to taper in the coming months >> i love this question. i harkin back to 2013. tapering isn't tightening. unless we're wrong about inflation not being transitory and inflation having a five handle next year as well as this year, and if the fed moves up the tightening regime -- not tapering, but tightening -- financial conditions will stale very, very accommodative we're trying to delineate with tapering, which is priced in and we're distinguishes that from which we still believer is a nice runway for financial conditions >> quite a big jump in the vix today. what do you make of volatility levels >> of course from a technical perspective, you do te

i'm sara eisen with wilfred frost in london. from a deficit, the dow was down 123 this morning, closed near the highs of the session. up 279 a strong day united healthcare biggest positive contribution on the dow with home depot, amgen and boeing s&p 500 closing at a record high, first time we saw that since i don't know a week and a half last week of july. the last record close. and it was led by a variety of sectors. energy, industrials, healthcare, financials, all of those sectors and materials closing up more than 1%. consumer discretionary strong too. communication services were lower on the day media companies a little under pressure the nasdaq closed up bymore than half a percent. apple the leader there moderna, strong day. some other healthcare names, amazon, microsoft in rebound mode google, good day facebook was down, so is netflix. overall strong day for tech. small caps rallied .4% as well the russell 2000, we reversed a decline from yesterday little lower than average volumes and not a lot on the news tape. but over