wynn, we sort of had a cold, remember, we talked about it after the steve wynn episode happened and we said the 165, 170 level is a gift that will trade it back to 200 that's the good news the bad news is it failed at 200 which is where it topped out earlier this year in january if you think this is a one-off quarter and macao will re-accelerate. 150 was the low in the beginning of the month and it holds right there. >> you to to ask yourself, what's more important than ma qaa owe. >> if you go with las vegas, both of them have had head wins reit now it's got to be macao, you're sticking to the wen that says wynn or las vegas sands is down year to date and looking for a laggard to karch up is going blue in the face. >>y asked you. >> that's a question that you can ask. >> no show would be complete without bitcoin. don't worry. wall street's queen of crypto will be here to explain yet sell-off could be a good thing and in the meantime, here's what else is coming up on fast. >> and remember, my friends, future, ven future events such as these will affect you in the future. >> and the man

wynn had a tough day today.lowing caesar's plummet. >> thank you very much. caesar's dragged the whole sector down. this is an additional eight percent decline. >> caesars was more about vegas. this really is strictly on the gaming side. i'm looking at below the line. in other words, it wasn't bookings for lodging and non-gaming revenue. i don't know if that is a larger china consumer story or what it is. clearly that seems to be the pain point for this report. >> how are these stocks in general looking? >> they trade a little bit like china plus u.s. consumer plays. they are very streaky and people get infatuated with the story. i think we are in backup mode here. >>> we have another earnings report, this one on trip advi r adviser. >> i would like to point your attention to shares on trip advisers. trade earnings beat 41 cents. revenue missed wall street expectations $433 million. one key metric to watch is its nonhotel revenue coming in at $120 million. that was an increase of $22 million or 22% year over yea

us what went wrong at wynn?lot of disappointment over the numbers from macau misses on the top and bottom line and the stock took a dive wif wynn macau, the operating revenue was down 18% casino revenue, property ebita, 18% down wynn palace in macau and vegas revenues grew but not enough to offset the losses. on the call, the ceo blamed the world cup which took attention away from gambling but also other operators. >> our competitors neglected the vip market during the downturn many of them got back into the game in the last six months with new rooms, more credit, creating competition. >> though maddox did not mention then by name, las vegas sands reported strength on vip gambling wynn stock rebounded somewhat on the outlook for the third quarter macau numbers. caesars is another company that got hammered yesterday by investors following remarks predicting flat to slow growth in las vegas because of competitive pressure on room rates. then wynn's ceo mirrored those comments, the expectation that revenue per avai

anthony wynn is visiting from out ofwn. he grabbed his cell phone and recorded this video. >> we heard commotion. we looked over at the corner and saw literally over 100 bikers, atvs, motorcyclists just joyriding basically and speeding through town and popping wheelies and doing all kinds of crazy stuff. >> reporter: now, we did reach out to d.c. and arlingtounty police. so far, we have not gotten any commen w hopefullyll hear from them tomorrow. erika, back to you. >> darcy, live in logan circle, thank you. >>> d.c. police are trying to find a person who shot and killed a man. somebody d flagged officern to report the shooting on southern avenue in southeast early this morning. first responders rushed keith douglas to the hospital where we're told he later died. recovering fros a gunshot wound. the boyashort in northeast near kennel worth afternoon. no word on a potential suspect or even a motive in this case.

you can look at where they get most of the revenue from, and most is from the wynn macau and wynn palaceow and green. we saw steep declines at the original casino. revenue fell by 15%. they cited in a decline by betting by highrollers. the palace jumped 57%. while the headline seems good, it seems the new a casino may be cannibalizing the older one. as we look at the sector more acau missed estimates at 11.5%. caroline: caesars also took a hit. vonnie: vegas is suffering a little, too. emma: we are looking at the gaming index falling 4.5% earlier. a number of casino stocks are down. -- ones little caesars is caesars. it closed at 15% down after they said that third quarter would be tough, especially when it came to vegas. they said they would see little to no growth in hotel revenue in the current quarter. we also heard from mgm, the biggest owner on the vegas strip, and they had revenues million.hort by $19 analysts say the third quarter of 2018 could shape up to be incredibly soft. vonnie: emma chandra with their stock of the hour, thank you -- with our stock of the hour, thank you. ch

we are tracking the trader's trades you bought caterpillar, sold wynn and world caribbean >> wynn i hado sell because it reached the threshold of pain. royal caribbean was a good trade that i took off because it had moved enough one balanced tout other. caterpillar the interesting. i just look at what they've done recently and what they've reported over the last few quarters you know what, i don't think this is over for them. i think there are a lot of different names right now. i could have gone boeing caterpill caterpillar, which i did there's multiple other names out there, but it seems to me like caterpillar still has plenty of upside >> another china play. sx >> and a bit of a china play >> you sold both wynn and both royal caribbean, what's hard err to sell? >> loser >> why >> for me. >> there are disciplines i try to put upon myself the stock in this case if it drops a specific percentage i have to be out that's what i did with wynn. it was painful i didn't want to sell it i still believe in the company the dependence they've got on mccow can be a good thing. >> all roads lead to

wynn has missed here because this was execution issues >> wynn's back to november levels we did dipbriefly. morning, bob >> 4-1 declining to advancing stocks yes, trade's back but frankly we knew this whole story yesterday. look at the usual sectors hit by trade concerns material stocks weak, industrial stocks weak. on the earnings front, jim mentioned this, it is about higher costs today all of the big companies, dow dupont talked about higher raw material costs, higher freight costs. kellogg talked about transportation and packaging costs. royal caribbean talked about higher fuel rates. clorox talks about higher commodity and transportation costs though they are up a little bit here. this is all the stuff -- the thing about the consumer companies all throughout this quarter we've heard pricing from them mostly flat clorox tried to raise prices they did packaging material costs have been higher. organic growth has generally been pressured gross margins have been pressured, too brand value has been eroding overall. it's been a tough time no wonder. look at consumer staples this year

. >> tough to be in these stocks >> still in wynn long wynn. not very happy about seeing it now.here's been a lot of news we know about steve wynn's issues the combination of that and slowdown, at least numbers aren't as good as people are hoping for or expecting. >> the seiceaser rs's ceo, i'm o at my stock screen, is going to be on "power lunch" just after us so you want to stay tuned to find out exactly what that ceo has to say about how it relates to the other stocks in the business doc, you own anything in this space we're on the market. >> what caused the volatility? right? halted due to volatility next thing, just die of a heart attack what caused the heart attack i don't know if that's the real thing. >> all right, up next, unusual activity with jon and pete we'll find out the stocks they're watching the stocks that could move in the options market but first, tyler has a look at what's coming up on "power lunch. >> thanks very much. coming up, we'll follow the ceaser's story and more. we're 90 minutes away pr the fed's decision on interest rates. investors will play close

we will talk to a gaming guru and big changes at wynn resorts.ne soybean farmer says a $12 billion aid package is a red flag that the president's policy is not working he joins us liver to explain and the last to report big earnings retail. it's iorntmpta we have courtney right there. >> yes, be ready. >> just a few minutes. had a coach in high school. really helped me up my game. i had a coach. math. ooh. so, why don't traders have coaches? who says they don't? coach mcadoo! you know, at td ameritrade, we offer free access to coaches and a full education curriculum- just to help you improve your skills. boom! mad skills. education to take your trading to the next level. only with td ameritrade. are you ready to take your then you need xfinity xfi.? a more powerful way to stay connected. it gives you super fast speeds for all your devices, provides the most wifi coverage for your home, and lets you control your network with the xfi app. it's the ultimate wifi experience. xfinity xfi, simple, easy, awesome. >>> shares of. wirn resorts down more th

wynn resorts settled with elaine who, the wife of steve wynn inherited and got a lot of shares.tigation going on following the divorce. they established the successors. the former -- a former executive, phil satre. this does not resolve ongoing investigations following allegations of sexual misconduct from steve wynn. but his wife has now settled with the company. agreement, sheis will not significantly increase part of this page she owns just under 9%. she will not join groups seeking a takeover until 2020. david: it at least bring some quietude to that company, which could use it. let's get an update on what is making headlines outside of that business news. the u.s.na is warning that it is ready to end your a projected trade war. beijing responded through state media after weekend claims by the president that he has the upper hand in the trade dispute. an editorial says that china does not see it sacrificing its short-term economic interests. president trump changed positions on his son's meeting with a russian lawyer. the president tweeted that the purpose of the meeting was

i -- look, steve wynn, hate him or like him, was amazing operator he was incredibly hands on you goence calls. he often talked about the way the table should be laid out, the art. i mean, he was a manager to end all managers anyone -- i think wynn is down not just because of china because because when you lose one of these ceos who literally determined how a casino worked by the way, his casinos, all remarkable you always felt what great places to play you get rid of him and you replace him with -- i mean, i don't know, whoever is running it the guy seems like a good guy. he ought to be on the tesla board. >> the other note is urban today over at barird. >> the management team there said we are in a six-year fashion cycle. i am not going to go against them they are hitting on all cylinders. that's a valuation call. every valuation call on the retailers that are smoking, they fail you have got to have more than a valuation call because look at five below one of david's favorite stores he thinks it is recreational equipment. they have a lot of warm clothes. five below look at that sto

wynn resorts, a subpar quarter remember all the work former ceo steve wynn did to stay ahead of his peersnts it this quarter. particularly in the multi-billion roller vip market and why there was a shortfall. when things got tougher, steve put on the gas and took share. now that things are better market share gains are waning and so are the earnings and frankly, i could argue, so is the inspiration. >> what about young china and starbucks? when young broke itself up you were supposed to go for the starbucks and china, looks like it's just plain ugly kfc, a former beloved place in china, a place couples go to get married. i remember numbers in the double digits and meanwhile, starbucks announcing partnership with alla baba and all sorts of ways to get your coffee without standing in line. the necessity of these moves is why? the competition had caught up with them, as you will hear later in the show when we talk to starbucks ceo, kevin johnson. you never want to hear that about competition, unlike young china starbucks has a plan to get back red robin's stock plunged 3% it is showing a 3%

wynn is accused of killing a husband anned wife and their son back in 2015. a judge will decide how the case moves forward at a hearing tomorrow. n> detectives in north virginia are looking for the gunman who killed a man last night in prince william county. detectives said the man walked into a home on arizona avenue in woodbridge, shot man to deat and then ran off. news 4's mark segraves is asking neighbors a sut what they and what they heard. >> reporter: it was about 10:30 last night when neighbors hourd the of gunfire coming from inside this home just off featherstone road. >> she heard something, pop, pop. i said that's probably what it wa >> we were sitting in there watching tv. it was about 10:27 and h werd five loud pops. >> reporter: after hearing the gunshots next door to his house, into his ran out driveway to see what was happening. >> as soon as i came out, camew out b the truck and trailer, and i saw this guy running up the street fast. about that time all the cops showed up. >> reporter: when weesponded we located an adult male who we believed

and elaine wynn will not seek a takeover this goes back to 2015. >>> and the trade war implications for.tea wk alley" afr quk ea i woke up in memphis and told... (harmonica interrupts) ...and told people about geico... (harmonica interrupts) how they could save 15% or more by... (harmonica interrupts) ...by just calling or going online to geico.com. (harmonica interrupts) (sighs and chuckles) sorry, are you gonna... (harmonica interrupts) everytime. geico. 15 minutes could save you 15% or more on car insurance. designed to save you money. wireless network whether you use your phone to get fit. to find meaningful, thoughtful, slightly-weird gifts. or just to know which way you're facing right now. however you use it, your wireless bill is about to cost a whole lot less. ask how you get xfinity mobile included with your xfinity internet. so you just pay for data -- by the gig or unlimited. saving you hundreds of dollars a year. plus, get $300 back when you buy a new smartphone. xfinity mobile. it's simple. easy. awesome. click, call or visit a store today. >>> welcome back shifting our fo

wynn resort stock took a dive.operating revenue, all down 18%, much lower than expectations. ceo matt maddox blames the world cup, which took activity away from gambling but he also pointed his finger at his competition. las vegas sands last week reported earnings that surpassed expectations mainly on the strengths of the renewed efforts of the c.i.p. performance. >> the best years for wynn are yet to come. looking at july, we are actually experiencing much better trends in july with our year over year and monthly subsequentlial growth up over 20%, significantly outperforming the market. >> they saw some upward movement in the stock when they said that. caesar's is another casino company that got hammered by investors. closed off almost 15% yesterday. he's highlighting a lack of scheduled events that draw visitors to las vegas in july and august. maddox mirrored those comments for wynn and you're really going to want to watch mgm shares. they ended down 9% yesterday. and mgm reports earnings before the bell this mo

had results after the bell you bought wynn after the results. >> i think pete bought it better than did i'll take it it was down 11 or $12 in the after hours yesterday, judge that was after the hammering that went done during the day. so more or less a shot of picking up something that was overdone that's what i thought. >> pete, you bought lvs? >> i did an insider, the president of the company just bought 10,000 shares of this stock at 71 well off the highs i like when i see the insiders buy. >> perk and elmer? >> great earnings report beat on the top and bottom line. raised the guidance. this is a great way to get into medical exposure >>> we'll take a quick break and bk and do final trades. ific oc. we're the most isolated population on the planet. ♪ hawaii is the first state in the u.s. to have 100% renewable energy goal. we're a very small electric utility. but, if we don't make this move we're going to have changes in our environment, and have a negative impact to hawaii's economy. ♪ verizon provided us a solution using smart sensors on their network that lets us collect near

coming up in the next hour, wynn resorts a board member. this is bloomberg.your bloomberg business flash. riteaid and outward since agreed to scrap a merger that would reshape the health care industry in the u.s. one proxy advisor says rite aid shareholders would not have ownership interests in the combined company. a company going private and a deal per -- valued at $6.5 billion, including the following firms. a boost from the soccer world cup. a german athletic wear maker had beatts at the estimates -- estimates. they sold a record number of soccer jerseys. that is your bloomberg business flash. beat,time for wall street three things wall street is buzzing about. indexty bets on zero fee funds. how can they afford it? gross' want fund falters. investors pulled a record on redemptions in july. and new york approves a cap on uber and lyft. us.d: jason kelly joins welcome. two new funds announced on august 1, and they said they will charge a zero for the funds. jason: if it was some sort of johnny-come-lately trying to make a hold, but this is star manager put

. >> i'm vicki wynn. four killed and dozen injured after a gun moon opens fire inside a video game tournament in jacksonville, florida. >> it was video game from e-sports from the base in the bay area. we are live outside the ea headquarters with more on the developing story, and i understand authorities released the name of the suspect in the shooting. >> reporter: yes, i have. we do know that the suspect was one of the people that was killed, also, 11 people were taken to the hospital, and you're right, this was all happening at an nfl sports tournament going on in jacksonville, florida. what happened was they were all playing the madden '19 game, developed by electronic arts headquartered here in redwood city behind me. in the middle of the live stream competiti competition, the shooting started, sheriff deputies converged on the scene, a popular entertainment complex along jacksonville's river front. they blocked off that area. >> we have one suspect in this case. he is deceased at the scene at this p

. >>> wynn resorts was cut in gus from buy to hold o concerns of gaming revenue growth in macao and it also lowered its earnings outlook for th this year and next when shares climbed just a fractio to 123.29. and merrill lynch lowered its rating from zillow from buy to neutral citing concerns over the business model shift over the purchase of mortgage lenders of america. the analysts say that could hurt zillow's profits and it couldwe lor from 60 to 70. it closed down 49.40 down 16%. >>> coming up, trying to contain what has rncome cali's largest wildfire ever. ♪ ♪ >>> i firefighters california continue to battle what has turned into that state's largest fire in i history. eight major blazes are ravaging california's ldscape and have caused seven deaths and thousands of evacuations. aditi r joins us tonight fromfo ukaya, caia. >> that's right, we are at the staging area for theno mendo complex fire. it is, as you mentioned, the largest wildfire in californist y, nearly the size of the city of los angeles and it is growing at unprecedented rate. it's combined of two fires, tri ver fire

newly renamed project struggling to emerge from the shadow of a me too scandal engufrlilfing ito steve wynn the gaming licensend its president expects a high return on investment made on the diversity initiative. >> i think we'll wind up with a better work environment and a better place for our guests to enjoy because they'll look tound and see tha we are really reflective of today's society. >> the recruitment effort also focused on hiring workers of color and veterans. >> as a journey worker, once they reach that level they can make $90,000 a year. so it can be a life-changing experience. not only for the individual, but the community, and ito leads t economic stability and security for everybody. >> ten years ago, fabi was making minimum wage and living with her father. today -- >> i just bought a house. >> would you have ever been able to do that on what you were earning? >> not at all. no. >> the statewide campaign aims o see 20% women employed in construction by 2020, a lofty goal, but the windsha ofe are blowing in massachusetts. in everett, conssa brewer, "nightly business report".

. >> i'm vicki wynn.r killed and dozen injured after a gun moon opens fire inside a video game tournament in jacksonville, florida. >> it was video game from e-sports from the base in the bay area. we are live outside the ea

of the $.90 -- we will speak to the ceo in caesar's in just a moment and wynn resorts is down almostrevenue overall for the company in the second quarter was $1.61 billion read the estimate $1.67 billion --. -- billion. the estimate was $1.67 billion joe: looking at commodities it was a red day across the board. gold futures are selling off a little bit. haven there. some of the -- no safe haven they are. 3% and copperwn is down 3.3%. scarlet: "what'd you miss?" let's get more insight into the markets and how global economies -- i should say the mobile has ay -- global economy few moves. benjamin, our next guest, welcome. we're still waiting for tesla results in the next 15 or 20 minutes. give us your impression of the earnings season so far. we expected double-digit increases in eps and there have been bigger misses an even bigger outside reactions. -- isof this justified all of this justified? benjamin: i think the in doozy is him around capex, robust currency, and low tax rates are a positive. there's a little bit of a wait-and-see attitude regarding what is happening overseas for

happened to wynn?most recent development is the best that the guy who hired me and a guy of tremendous integrity is now the chairman of the company and it looks as if the different shareholder groups have come to some peace about it. the company has a lot to offer. it has tremendous assets and i think its been an unpleasant road but its come to a better place. >> are you steve wynn or elaine wynn person? >> i knew both of them. elaine is more gentile of the two. >> never mind. thank you. >>> coming up this mniorng, "squawk box" is coming right back after a short break. xfinity mobile is a new wireless network designed to save you money. even when you've got serious binging to do. wherever your phone takes you, your wireless bill is about to cost a whole lot less. use less data with a network that has the most wifi hotspots where you need them and the best 4g lte everywhere else. saving you hundreds of dollars a year. and ask how you get xfinity mobile included with your internet. plus, get $300 back wh

ter the bell, wynn resort it is said weakness in its macao hotel andasos offset strength in other areasverall earnings to ms e mark. shares of the casino operator fell after hours extending a4% loss from earlier in the day when shares closed at $159.99. >>> gambling is a multibillion-dollar business. one of the bigger names in the industry sent a chill in the sector. caesar's entertainment warned of tough cditions in las vegas. the stock plunged more than 20% before paring some of those losses and it sent the other gaming stocks lower, as well.br contessa you er has more. >> t ceo was delivering hisfe earnings cnce call. why the diss? caesar's told analysts that suffering from competitive pressure on room rates and the skilleded, vents inags having a compared to the previous year when the mayweather fight happened. that sent stocks skidding. such intense volatility and trading was halted three times and there's no reason to panic. >> we had some cautionary comments that you upon, we'd seen some softness not due to vegas being soft, but due to the window in the third quarter softer than

wynn did not see decline until this quarter.a risk of cannibalization to really call it that. certainly something, a point to look for. ramy: thank you very much. bracing for only modest results when toyota results later on friday. the carmakers likely to be hit with recent swings in the yen. it is also facing the threat of u.s. tariffs, crippling demand and its biggest market. through what could be in store for toyota. said, this quarter should be reasonably strong. although there is a bit of a hit expected from the yen. it is about to yen's stronger than the dollar compared to a year ago. at the same time, the yen is headed in the right direction now. from the end of march, when it was 1.06, it is now 1.11. that is only good news for the japanese automakers to include it. really, the question is with the u.s. in particular, which is still toyotas biggest market -- toyota's biggest market by a longshot. demand has been volatile. we had a very good june for the industry overall in the u.s. and then a really smack in the face in

that includes the wynn. coo is being interviewed by a reporter who wanted to force him to say that and he never did. other stocks that surged today, after the close cbs posted higher than expected earnings. the ceo would not address the controversies surrounding him and the company. several women tell the new yorker that moonves physically assaulted prime minister. and meanwhile moonves continues to deny the allegations. to soothe and moisturize a dry mouth. plus, it freshens breath. biotène. immediate and long lasting dry mouth symptom relief. it's a high-tech sleep revolution. the sleep number 360 smart bed intelligently senses your movement and automatically adjusts. so you wake up ready to run the world. the new sleep number 360 smart bed, from $999. it's a high-tech revolution in sleep. the new sleep number 360 smart bed. it intelligently senses your movement and automatically adjusts on each side to keep you both comfortable. and snoring? how smart is that? smarter sleep. to help you lose your dad bod,

. >> vicky wynn joins us now with what the family's doing to prosecretary others. >> he is devastatedughter is gone. as we first told you, the tow company responsible had already wracked up millions of dollars in fines and safety violations. >> the family is taking action to get the trucks off the road. >> listen, she's a very smart girl. and i guess it's hard to explain to a 2-year-old. >> her father is now raising his granddaughter alina. >> i told her her mom went to bed and woke up in heaven. >> her mother died after being pinned in a ditch. the gaping hole left by her loss felt every day by her family. >> it's tough. walking in the house, you know everything reminds me of her. >> what you know now, how do you feel about that company? >> i'm upset. i'm upset at them, i'm upset at why they're still in business, why they're still operating. >> the investigative unit first uncovered irvine auto towing goes by the name strive, pride and modesto. was operating without a permit the day ileana was killed. two months earlier, state regulators had already suspended irvine's permit, after f

this is all during a storm that hit yesterday, this was at the wynn star casino and resort about 80 miles north of glass. about 50 people ignored warnings to seek shelter. a metal structure collapsed and at's how the people got hurt. police evacuated the area and t thy eventually cancelled the concert. >>> a scandal surrounding the university of maryland's football program swirls around, the school held a meeting to address concerns about the death of a player. plays, parents and the university president met yesterday. d.j. durkin was not there. offensive lineman jordan mcnair died in june, two wks after he reportedly suffered a heat stroke during practice. on tafriday, the board of regents announced an investigation into that incident. parents that we talked to say they support coach durkin, but they will also supporthe outcome of this investigation. >>> the suspected russian agent accused of using sex and deception to make connections in th u.s. has a new home. maria butina has been moved from a d.c. swrjail to an alexandria work. prosecutors say that butina worked tool infiltrateical o

resorts, sands, wynn mgm all down rather substantially for reasons we don't fully understand yet, butontinue to looking in -- continue looking into as we learn more. live from new york, this is bloomberg. ♪ shery: this is "bloomberg markets: balance of power." david: where we are on the credit cycle is something people are talking about a lot these days. may be howtor investors are treating some of the riskiest municipal debt. that is according to a piece out of the bloomberg today by matt winkler, who we welcome. it is a fascinating piece. explain to us why this makes sense, the people are going to some of the riskiest munis. a lowhave been in interest rate environment, in fact, you could say record low. these offer very big coupons. thatmes are good, meaning everybody is flush with cash from tax receipts and so forth, and unemployment is at record lows, these are very attractive yield investments. david: provided you get paid back. reporter: provided you get paid --k, and when times are good and we are in the second longest expansion, and maybe longest expansion -- then they look ve

it is a big play phzer, i think money will continue >> i am with you, wynn resort. >>> my mission isoney i'm here to level the playing field for all investors. there is always a bull market somewhere, and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to make you some money. it's my job not just to entertain but to teach and educate. so call me at 1-800-743-cnbc or tweet me @jimcramer. this market has gone into forgive and forget mode. on a day where the dow inched up 40 point s&

. >> the ghost ship warehouse fire -- exposed other problems and at 10:30 pm candace wynn has inspection records still causing concerns. >>> a three-day music and art festival features dozens of artists including janet jackson, the weekend and back -- the weeknd and back -- beck. >> crews are working until the last minute to make sure the music festival doesn't hit a sour note. with the 11 year history the show has always been about music and more -- that all starts with a show -- at san francisco's golden gate park. >> we start with a backdrop that is staggeringly beautiful -- and then what we've done is added a lifestyle activity. we are a multigenerational festival. >> the lineup includes dozens of acts, food and wine and new this year -- grassland, a cannabis information clearinghouse. no sales or use but it does include a smell wall to sniff the various varieties and also new this year, bag restrictions -- in the interest of security organizers are limiting what can -- people can and cannot bring inside outside lands.>> reporter: basically we are only allowing clear bags -- if you h

hi, i'm dee wynn and this is the waffle bus.hes such as smoked salmon, creme brulee, s'mores waffles. we do a fry and a slider. we use waffle fries as a substitute for a bun. baking is like chemistry. every little degree you put in there makes a big difference. the waffle itself is my own recipe. it took months and months to make it. hundreds of recipes. i love to see the satisfaction of people's faces when they come by. you make something and they think it's that great. chicken fryer. spicy mayo. i always want to be an entrepreneur. promotion. i started small business selling things i found on the internet. sometimes things don't pan out but you learn from your failures to do something successful. waffle bus turned out to be the one. >> start small think big brought to you by benjamin moore. with tripadvisor, finding your perfect hotel at the lowest price... is as easy as dates, deals, done! simply enter your destination and dates... and see all the hotels for your stay! tripadvisor searches over 200 booking sites... to show yo

and welcome back to jack wynn. gentlemen, i have questions for you. paul starting with you here. on the motivation of don mcgahn to cooperate with the mueller team. according to the times, in this breath taking piece over the weekend it seemed to be the fear of trump setting mcgahn up to take the blame for any possible wrongdoing. so if you are don mcgahn isn't it a no brainer to cooperate? >> i think it is a no brainer and it is a no brainer for a more fundamental reason, which is that in the end he doesn't have that much of a choice. as you said in the opening, he works for the people the united states. and there's a very limited scope to the confidentiality of his agreement of his discussions with the president, especially when they involve conduct that might be legitimately the subject of criminal investigation. so far from -- beyond being afraid of taking the fall, full, he simply has that obligation as a servant of the american people who works for us in effect. >> uh-huh. to the point of that, very important dliniation, and jack you know all about this as white house couns

the past one week important to note, stocks leading the nasdaq not just faang names, we're seeing wynn resorts, chip stocks and jd.com. back to chips, look at the philadelphia semiconductor index, up 2% today as well as the nasdaq biotech index we're seeing broad level participation in tech stocks, biotech and chips. and that's helping the nasdaq continue its run, now above 8,000. up 1% in today's trade back to you. >> thanks for wrapping that up for us from the nasdaq seemamodi. thank you. i saw a few different notes from market watchers over the weekend, eliciting comparisons to '99, 2000 what do you think? >> overconfidence everywhere, seeing it across the public markets and private sector we're in an 8 year bull market on the public, nine year on the public, and there's never been more capital coming into the asset class. people are euphoric. lots of billion dollar plus companies and ipos coming this year, but it is a lot of overconfidence it goes back to the economic cycle we're in i think you'll see a downturn, not sure whether over supply and confidence will require a pull back.

so during this, me and cuban are at a nightclub called tryst at wynn and he's there, and you know, weon the stools and kind of start going at each other. - harvey: for real? - oh, yeah. so we get into it at tryst. and then the whole court case happens, we win. august 19, 2010, i get an email out of the blue from mark cuban. it says, uh, just write you a check for a million dollars so we can get past this. so then i respond to him, "2 million is what-- " ( laughs ) i said, "2 million is what you cost me." ( harvey laughs ) and? so cuban, we ended doing a deal for 2 million bucks and not only did we start doing business with cuban, but cuban has become a good friend of mine and i like and respect him very much. so, you once said, "you want to be my friend, i'm the best friend you could ever have. you wanna go the other way? i'm for sure, the worst enemy you could ever have." that is true. i am very good to the people that are good to me. and, uh, yeah-- i can go the other way, too. if you don't want to be my friend, then we can definitely be enemies. i'm good with that too. on the frien

it is a big play phzer, i think money will continue >> i am with you, wynn resort. >>> my mission is simple, to make you money i'm here to level the playing field for all investors. there is always a bull market somewhere, and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to make you some money. it's my job not just to entertain but to teach and educate. so call me at 1-800-743-cnbc or tweet me @jimcramer. this market has gone into forgive and forget mode. on a day where the dow inched up 40 point s&p advanced .35%. the nasdaq gained .61%. people are desperate to make moves so they can buy them before they take off, because so many other stocks have already taken off. consider what worked today let's start with, well, what may be the most obvious. lets start with disin. the company reports tomorrow and the market already likes what it sees haven't even seen it and it likes what it cease. how is that possible for years people have been lasered on the fact that disney

m mary ann wynn is one of the originals.t who is the executive director of rosie the riftor trust. you're one of the many women who worked in factory or ship yards during world war ii. talk about what you did. >> i was a pipe welder. i came from minnesota, 1944 after i graduated from high school and i just turned 18 years old. i was a pipe welder and the men would set up the pipes and we would weld them together and when we got them all welded, they'd take them to the ship and they were already welded in place, welded so they could put them right in place. >> that is incredible. you actually brought a picture here. do we have this picture to show where she's 18? any way, you are here in this picture with all these other women. this is so incredible and you've noticed a greater awareness actually of an appreciation of rosies in the past few years, haven't you? >> yes, more all the time. >> what is that like for you? >> it's wonderful. it's nice to see all these young girls going to work. >> and talk a little bit more about wh

wynn resorts was lower after it's disappointing numbers and rio tinto following that downward pressure in london this did shares yesterday and in the adrs, first-half profit and dividend disappointing to the market. anna: thank you. a competence of wrapper for you need to know in the equity session. reporting first-half numbers of operating profit 1.4 billion pounds. the company also says it is still on track to achieve its financial target. joining us now is aviva's ceo mark wilson. good to have you with us. give us the highlights from the first half set of earnings and why you have the confidence to pay out this dividend this morning. >> we have had trump tweets with trade wars and concerns every day, and i think aspite that aviva has been pillar of stability in those choppy seas. we have seen eps up 4%, that is a clear beat, about 7% ahead of analyst expectations, that is looking pretty good. that gave us confidence in the dividend, that is up 10% and the last interim, dividend is up by double digits each time and what all of that has allowed us to do is we have reconfirmed our expe

. >>> joining us now, head of strategy at wynn brothers. great to have you with us.there a contagion transmission mechanism to the united states? >> i think that's what the good news is. at this point, there is not. the reason i say that, look at the five worst performers this year argentin argentina, turkey, brazil, russia, they have a huge amount of baggage as seema pointed out, political risks. malaysia, thai, thailand bear market is focused on the countries that have the worst fundamentals any kind of warts out there will be found if you have your house in order, things are going okay, you'll hold up relatively well. >> in terms of china's move just this week, i want to say, as this week is flying by, in order to prop up its currency, support its currency, does that help the emerging markets vastly, the fact that china has stepped in and supported its own currency >> china was basically sending a signal that they don't want any sort of unintended consequences. i think it was a good move on their part again, you know, i go back this whole overall backdrop rising u

wynn resorts down 10%. coming up next six minutes left of trade we'll be back with the closing count down >>> and we are counting you down to the cbs conference call that will begin 4:30 eastern time will ceo les moonves join this call and will he areddss the sexual misconduct allegations against him? we're monitoring all the action for you. "the closing bell" will be right back so they won't be used by anyone but you. the ibm cloud. the cloud for smarter business. but prevagen helps your brain with an ingredient originally discovered... in jellyfish. in clinical trials, prevagen has been shown to improve short-term memory. prevagen. healthier brain. better life. introducing e*trade personalized investments professionally managed portfolios customized to help meet your financial goals. you'll know what you're invested in and how it's performing. so you can spend more time floating about on your inflatable swan. [ding] >>> welcome back to "the closing bell." a couple minutes left of trade let's start with th

i'm on the earnings calls listening to the ceos of mgm, wynn and caesar's talking about he seeing a slowdownr, maybe a bounceback but there has been -- >> apparently we're having an audio problem now. do you have me now, mayor? no, you know we have to take a break and see if we can reconnect this and come back hopefully to mayor goodman when we get the technical issues resolved. >> meantime, frozen foods are heating up and - that you can trust they're 100% authentic? ibm blockchain. a smart way to track every step, ensuring this coffee did indeed come from 6,000 feet above sea level. and not a foot lower. ♪ ♪ at&t provides edge-to-edge intelligence, covering virtually every part of your manufacturing business. & so this won't happen. because you've made sure this sensor and this machine are integrated. & she can talk to him, & yes... atta, boy. some people assign genders to machines. and you can be sure you won't have any problems. except for the daily theft of your danish. not cool! at&t provides edge to edge intelligence. it can do so much for your business, the list goes on and on. that's

so they included the likes of wynn resorts and morgan stanley, citigroup largely because those companiesexposure to brazil and russia and india and china. but isn't it a bit of a leap? >> yeah, i think so. there is no doubt that these tariffs hit specific companies, specific industries and the consumers in those industries as well. when i look at this, i back off and look at the macro economy. if you look at the tariffs, and a pair when you compare them to the size of the corporate tax cut. one of the things that is hurting the rest of the world is the united states the united states has not reduced its corporate tax rates to levels that are competitive. we allowed other countries for other years to grow at our expense and now by cutting regulations, cutting taxes, putting pressure with tariffs on them, we are hurting them more than we are being hurt. in the end, what will happen is okay, tariffs around the world will come down and i look at the end result of all of this even though people are fearful today has been a real positive not just for the, but the global economy. sure into what

her name is sianni wynn and she's here with her dad and her coach. come on, sianni, give it up.e it is. congratulations. you didn't even know that you broke a record. when did you find out? >> i found out when i went to the -- when i went -- >> back in the stand. >> went back in the stand and my coach's wife told me. >> they said, what did you feel like when they said you just shattered this record that was held by an olympian? >> i was happy. i was really excited. >> yeah. i bet you were. how about you, dad? >> it was a big moment. we -- she was really close in the regionals but it's a lot of pressure to put on a team so told her to go out and do her thing. >> i hear you say as great a runner she is, she is an even better person. >> that's one of the things i'm most proud of. the parents would often come up to me and say your daughter is wonderful. she helped my daughter relax before the race and she always congratulates the people she runs against? that's wonderful. i love she doesn't trash talk. she says others trash talk her but you don't trash talk, right? >> no. >> catch m

a problem that we're seeing in macaw, and that's where -- it's interesting to see the sell-off in wynn, for example, or melco, companies that operate out of macaw and all of those are being taken down with it and the weakness with caesars has nothing to do with macaw they don't operate in macaw. >> when you say that the company was blaming other competitors out there, it sounds like they're suggesting that we're dealing with some kind of price war or they were going to have to match lower prices from other hotels, and that would suggest it's a vegas problem >> yeah, the implication was that it was -- their biggest competitor, mgm, cutting pricing. i think at the end of the summer it was fairly clear that there wasn't great -- a great deal of pricing power in vegas but based on some of the work that we've done, we haven't seen any significant more than usual pricing power across the vegas market. >> so you would cut prices because demand isn't there, right? that would be bookings, right? >> yeah. in the summer, remember -- >> it's hot. >> yeah, it's hot. and when you can cook an egg on

winds lashat vegas casinos are down 6% -- wynn's las vegas casinos are down 6%.ling the united states, at least that is how it is perceived. englanda of the bank of coming up with francine's conversation with the governor. the bank of japan is assassinating economic financial experience. table on this the original experiment. how does japan extricate themselves from this given their demographics and culture? daniel: i think it is not something they are too worried about at this point. they are thinking how to expand, how to get liquidity into the economy and system to keep inflation up and support economic growth. in contrast to the u.s. and europe, you have had slowing economic growth in japan and disappointments. for them, that is a problem for day.er it is trying to come up with as many tools as they can to give more life to qe to keep this going for longer, even if you are tightening in the u.s. and eventually tightening in europe. tom: it is about the embedded debt within their society. how do they clear that market? daniel: that is a question we have been a

sales and profit fell short at wynn, the gaming company of course. less money from macau.next guest who is clearly no fan of tesla's founder elon musk. our guest calls him a jerk, that is his word and he says he shouldn't be the ceo. jeremy owens is with us, market watch san francisco bureau chief and technology editor. big smile on his face. now then, jeremy -- >> thank you for having me, stuart. stuart: he wasn't a jerk own the call yesterday. far from it. he was apologetic. he was somewhat contrite. have you changed your opinion of him? >> well i think he did a really good job yesterday of coming back. we called him a jerk after the may earnings call where he was very mean to analysts. he took the time last night to apologize individually to each analyst he was mean to in the last earnings call. that goes a long way to re-establishing credibility with wall street. stuart: jeremy, are you so thin-skinned that you can't take a little agro mr. musk? you are thin-skinned? >> i'm not thin-skinned. he didn't come right at me but he was very mean to everybody on that call. and

you just named two wynn women. a point she was making as well that people do come after her more because of her gender. their attacks are more aggressive. they pick on things that they wouldn't necessarily pick on on a man. how you look, how you talk, how you walk, all of that we have had the sexism debate before. i think she makes valid points there we will see a leadership challenge. people should vote and it should be fair and i think she would want that as well. she has been a prolific fundraiser for us. right now healthcare is the number one issue in this country. nancy pelosi was the one that ushered through obamacare. premiums are up, whatever. democrats positive on healthcare. republicans -- ainsley: kayleigh, go ahead. >> blame this on sexism. something every democratic commentator does patently ridiculous. we were against clinton because of the clinton foundation, corruption and benghazi. we were against nancy pelosi because she calls tax cuts armageddon and giving the american people $1,000 more of their

you'll be competing against wynn resorts next year if that all goes as plans.competition and make this the destination? >> we're used to competitive markets and we have a track record. its almost unfair for people to compete against us. because we're the biggest entertainment company. we're the market leader every we go, market leader in atlantic city, very competitive, market leader in detroit. >> reporter: are you overextended on the east coas analysts have said to me that mgm is overextending itself on the east coast. >> we don't feel that way. the ability to cross market between these properties is very high. the data we have in this market from our database shows that these customers are not going to our other properties today. we believe that with our regional jet service that we have, we'll be able to move people all around the northeast. in fact, the yonkers casino you're referring to once sports betting is approved both in new york and in massachusetts would be a great linkage between these two properties. >> reporter: joe, you want to jump in? >> i do