scott wren of wells fargo advisors predicts an uptick to 1700 in the s&p by the end of the year. "i think that the fundamentals are in place: we're in a modest-growth, modest-inflation environment, and earnings are coming in ok, so valuations are what the market is helping us here. they're below the long- term average, which allows a little bit of upside here, and i think the confidence on a business and consumer level will improve as we move through the year. we'll see the market finish a little higher than where we are right now." wren plans to invest in sectors tied to the recovery, such consumer discretionary, materials and technology. he's staying away from safe-haven plays. close attention will be paid to manufacturing data coming into the market. there are concerns of a possible slump in business activity following the release of the chicago ism index friday. the business barometer showed 51.6. a number above 50 indicates business is expanding. however, it's down substantially from the chicago reading of 58.7 in may, and below economist predictions of 55. economists expect

joining us right now is scott wren. good to see you again, scott. >> hi, bill. >> on a day where we saw really pretty poor retail sales figures for june. the stock market continued hire. why the disconnect right now, do you think? >> i think right now, for some of this data, what's bad is good, and what i mean by that, is bad economic data means the fed is less likely to taper, which i don't think they're going to do anyway, until 2014, probably. that's the way the market's reading some of these indicators now, bad economic news is good, because the fed's not going to make too many moves, at least soon, to reduce the amount of qe they're doing every month. >> what's not surprising, is that we're having slow growth, we've known that all along, i think the concern is, how slow is this growth going to be, and in some cases, what if it is negative. would that derail the stock rally that we've been seeing? >> well, suzie, certainly based on our projections, if we saw negative gdp growth, our target would be in question. our

maurice levy and john wren will share the role.ing after a press conference in paris yesterday, maurice levy told cnbc the deal would benefit everybody involved. >> there is no one weak partner, and there is no one who that is financial difficulties or anything. we believe that this will be a great operation for all our people, our clients and our shareholders. >> publicis shares are currently closed on the paris market. they'll open at 1530 cet. havas trading higher on the news as it could attract clients of the two companies. >> the m.o.e. doesn't make much sense, and of course it's counterstrategic because publicis, the combined company, will have a lower proportion of digital and a lower proportion of fast-growth markets. as omnicom has said for years that they didn't want to get involved in scrum, and now in one fell swoop, they are. having said all that, i think it's a tremendous deal for publicis, and all credit and bouquets to maurice levy for having engineered this. >> and the coo of havas, david jones, told me he's got no

wren food was brought in at 9:00 it was a sign it would be a long night. they came back to the table because two new high level mediators called them back. governor brown had appointed the mediators working all night but at 3:00 this morning, they decided to call it a night. >> as you can see it is late now. we decided to make more progress if we get some sleep and we worked hard together, both parties, along with the fine mediators assigned by the governor. we have been asked fought to speak to the press other than make that single comment. thank you for your coverage. i wish you a good night. >> really, it is morning. this was an hour ago. she is the only person we saw walk out. no one from bart came out the front door. no comment from that side. the strike continues. they plan to go back to the table. this is just a recess. that is scheduled for 1:00 o'clock this afternoon. we have a little light of good news. there is a tentative deal with bart in a smaller union involving 200 workers, office workers and middle managers who have not released details. >

joining me now, scott wren, wells fargo advisors senior equity strategist.ng us. are you telling your clients this is a buying opportunity right now? >> ashley, i would love to see a little bit more actually..3 we had a 7 or 8% pullback a little while ago. i would who have to see another one of those. that is where the opportunity comes in. i think we'll see more volatility. we're dealing with retail clients here and a couple of percent here or there, that is not when they want to move. they need more than that. i think we have a chance to get more than that because certainly over the course of the next 18 months or so i think the market will do pretty well. ashley: that is interesting, we talked about a great rotation out of bond into the market but if you look a the numbers, the money come out of bond largely gone into the money market fund which is a very safe play. investors are still very gun-shy. how can you convince them that this is the market to play? >> they are really are and certainly our clients the money that has come out of bond has not come i

thing that has happened, and even some of the outbreaks we have seen, is that there is a sense refer wrens for this system. when you have a police department who investigated and you have a district attorney's office who investigated and they made a decision that the evidence is not there -- remember most of the time if they are going to prosecute they don't prosecute for probable cause. they prosecute for conviction. they looked at this. then we had the civil rights movement. i understand. i get this. we all get the fact that this is a problem in our country. you have to respect the independence of the offices that they made it decision and then to be candid with you, as bad as it would have been if they wouldn't have prosecuted, now even when they did prosecute and put it in front of a jury it still isn't enough. i don't know what will ever make the civil rights leaders, and i say that respectfully, ever satisfied unless there is a conviction, and that's not the way the system works. >> nicole, if politics were a a driving force behind this george zimmerman trial, would that lead you to

. >> i am just glad somebody as do decisive as jimmy carter 1k3* wren letters to hamas is saying somethingbout the united states. we have our problems in america. we are not perfect. but our elections run a little better than the banana republic that the carter center goes and monitors their election for. >> bill, you once ran your own bough banana republic. no, you just folded shirts. there was no functioning democracy or a functioning toilet. but you didn't mind. you poop wherever. >> and then i pulled them in. i don't think that he was criticized. i think the guy is a glen beck fan. if you notice during the press conference he was using food props. there was a blackboard behind him. >> i can't tell the difference between right wingers and left wingers anymore. he is saying the same thing as right wingers. >> i guess. i lost him with the horrible southern accept. accent. it trails off. >> you trail off. yes, i would like you to trail off. >> no. i will skip off. i will pop off. >> prince off. >> prince off, prince on. i like this idea. we should do a whole show on prancing prancing and f

somehow, the combined entity can wren f better terms from the online ad world.econd deal is kind of a puzzle, frankly. it's a head scratcher. irish drug company for 8.6 billion in cash. perrigo is a maker of knock off store brands, over the counter drugs. they can manufacture these products cheaply and charge less than the competition to make much more money than they do when they offer products of big name players like johnson & johnson and proctor and gamble. it's basically a royalty stream for a bunch of pharmaceuticals. the ms drug made by biogen. that's not like the perrigo we know. this deal allows the company to shift its status to ireland, changing the tax rate to a much lower rate. while i wish there were more to it than that, the combined company will have higher after tax earnings. for more people, that is what matters. the third deal is the one that makes the most sense to me. hudson bay, canadian department store chain buying saks. for 2.4 billion for $16 a share. i know given that the stock went out at 15 and change friday, that's hardly a home run

wren when the final piece trades, all these buyers converge. they end up overwhelming that last piece t. stock goes higher. that's what happens time and time again. look, sometimes the stock's performance doesn't matter the underlying business. i know that can shock you. it can take a while for the two to sync up. if you get a bargain, please be patient. wait, your rewards will beckon. "mad money" will be right back. . . >> welcome back to tonight's ezegs of "mad money." stocks often diverge from the fundamental also of the companies they purport to represent. i though this confuses you mightily. i see this on jim cramer on twitter. i talked about the need for investors to get familiar with how stocks trade. you need to learn more about the traders and watch short-term moves and stock prices, but to take advantage yearn retrend e pretending the short-term gyrations in stock prices are beneath their notice and somehow pollute your gains. may we never be so important or self ar gant to think that entrance points don't matter. they control your ab

stanford students take a close lock at birds in flight to help build the next wren ration of robot.s video. stanford video with ultra high speed camera shooting 3300 frames per sec. in the true speed the image obviously just so quick our eye would say miss them. can't catch it. students hope this research will help them design a flapping winged robot that is as similar nimble as bird and maneuverable than current robot. they hope to learn something about birds in the process. but pretty wild. >> the skill and talent of professional athletes is always so inspiring but tonight one former football player is motivating people in a very unique and powerful way. abc anchor josh elliott filed this report for the network america strong series. >> steve once player for saints is beloved figure and city that has defined resilience. he was just one year after hurricane katrina had devastated new orleans. when this singular play by gleason that's him. number 37. rushing from the middle. made him a cult hero. >> 2011. flee son was diagnosed with als. lou gehrig disease. today ravage by the disea

approval to banning, quote, tools of violence during protests and demonstrations including hammers, wren paint, and slingshots. a final vote is scheduled for september. the vote wasn't the concontentious issue discussed. christie smith live with a look at heated debate over a plan to install more surveillance cameras city wide. >> reporter: good morning. the center that we're talking about is expected to be a hub for gunfire detection systems, cameras surveillanceu images coming into one location from places like port of oakland and the streets around oakland. in the end, the city council decided to tweak this because there was so much outcry about privacy. >> shame, shame, shame. >> reporter: the city council voted to accept a $2 million federal grant for a dough plain awareness center. that's what they're calling it. pictures and data would be consolidated into one center with big television screens that would help with emergencies and potentially help police identify criminals. council membersjñ agreed footag privacy protocols are put in place and established.p"iÑ many worry the surv

as you come through san already wren sew, in the 40s.can get over to the middle and get a break. over here, you jam down below ten miles per hour. once you pass whipple you're okay. heading over the san mateo bridge, also okay, a smooth drive. a slower drive coming through the altamont pass. no big drama. livermore jamming as you typically expect. the blue here, you might have puddles. 580 looking pretty good. watch the off-ramps, might be slick conditions there. 101 starting to building the volume. >>> at 6:51, we have an update to breaking news we've been following all morning long. homicide detectives investigating the death of a 7-month-old baby boy found in a south san jose home. "today in the bay's" bob redell live at the scene with what we's so tragic, bob. >> reporter: good morning, laura. sjpd has assigned its homicide unit to this case which they point out is standard when you have the death of a baby, especially a 7-month-old baby boy who died overnight at the terrace villas apartment complex in san jose. someone called 911 ar

republicans, many who have been elected just in this last cycle who are as frustrated as their con stitch wren situate they represent and they can see above the need to -- they understand that it is about results, and are impatient and we want to be able to get things done. >> you are the youngest woman member of the house. >> yes. >> and when you came to the house, were your expectations to do what? what were your expectations and how do they differ are the reality? >> a lot of huge and important issues that i wanted to jump on and tackle but i knew immediately coming in that front door that the most important thing that i would have to do first before i could even go down that road was to build relationships, and talking earlier of how do you overcome the gridlock? how do you breakthrough that? and for me i looked back to some of our predecessors in hawaii, senator enoy, fantastic hero, not just for hawaii but for the country. >> rose: military hero, lost his -- >> medal of honor recipient, just a larger than life personality, and the friendship that he built with senator stevens from alaska

and number three, any european who wants to go out and wren their garments with regard to internationalok first and find out what their own governments are doing. martha: very interesting, and strong words from general michael hayden there. farooqukt mcfarland is our fox news analyst. everybody is doing it. >> i think part of what this is that an outrage that a government has to have on behalf of its people. martha: in all of our diplomatic officers overseas do we assume that the europeans are bugging us? >> totally. every american president who goes every seas the only place thought to be safe is in the plane, in air force one. that's where they go to have their most secret meetings. martha: which is why, if i'm correct we carry physically the limousines from here to there. >> absolutely. martha: it was determined back in the 70s they were being bugged back in the liam seen. >> that is a dirty little secret that there are no secrets. we have to all understand that. it brings us a a second question. what has edward snowden done. when the said said some 28-year-old hacker i can't be both

. >> reporter: wren dan mbrendan mkcdonough read the hotshots prayer. >> bless my hotshot crew my familyt arena while others watched outside in 90-degree heat. >> you came here all the way from wisconsin. >> yes. >> reporter: why did you want to be here? >> these guys are my brothers. to see 19 go at one time is such a loss. >> reporter: the firefighters rang a bell three times, the final alarm, symbolizing the end of duty. prescott fire chief dan. >> if i could fulfill my wish it would be that my final tears walsh wash away the pain we all feel. >> reporter: the wind sundayly changed direction and the firefighters found themselves trapped on a ridge. many of them left behind young wives and children. vice president joe biden who lost his first wife and his daughter in a car crash tried to give the families hope. >> that the day will come when the memory of your husband, your son, your dad, your brother will bring a smile to your lips before it brings a tear to your eye. >> reporter: the yarnell wildfire is now fully contained. while the full amount of damage is still unknown -- ♪ >> tra

wren food was brought in at 9:00 it was a sign it would be a long night.ed the mediators working all night but at 3:00 this morning, they decided to call it a night. >> as you can see it is late now. we decided to make more progress if we get some sleep and we worked hard together both parties, along with the fine mediators assigned by the governor. we have been asked fought to speak to the press other than make that single comment. thank you for your coverage. i wish you a good night. >> really, it is morning. this was an hour ago. she is the only person we saw walk out. no one from bart came out the front door.

john wren president and ceo of omnicom and maurice levy chairman and ceo of publicis. welcome.> thank you. >> joking about how you kept this quiet. it's written this started as a joke, true. >> as a joke? yes, it did it started as a joke. on the terrace of the publicis building and john said, it's a priceless view. i said you can get it. >> over time and other social occasions we went, are you really kidding? and escalated and we started having more private serious conversations. and it turned out that it was actually possible to accomplish. and we have. >> what are the like strategic circumstances that led you to even think of this? you've been doing this for a quarter century, right? did you ever see -- >> that was nice. he's been doing it longer. >> i'm in the industry 40 years. i'm leading publicis in a quarter century and we've done a lot of deal but this has a lot of reason to exist. the most important one is that it's an excellent combination for our clients. we have to think first about the clients. what the new world is creating as issues for our client and we believe

in for a landing skauz construction has made glide slopes unavailable on two of the airport's main wrennext month. >>> the man accused of beating and killing another man inside the great mall shopping center is in court today. nathaniel manlangit is expected to enter a plea in connection with the murder of carlos caloca. surveillance showed the two men entering the sports authority at the same time. at some point they separated and manlangit got a baseball bat and used it allegedly to kill caloca. >>> speaking of weather, let's move on to that. christina loren has a couple words to explain the weather. crispy and cool. >> crispy and cool. we have a sgrat dgreat day shap. the west early wind will transport the cool air making for comfortable conditions. wait till i show you your highs. here we go. temperatures 75 in san jose, 70 in fremont. 83 degrees in livermore today. much cooler than average and the only bad part is san francisco is going to be cool at 58 degrees. we stay steady through wednesday. let's check the drive with mike. >> eastshore freeway better for berkeley. all lanes cl