sometimes you get -- lou: whether it's yellen, you know, whomever it is at the fed, they always have to have that first rate to learn their lesson. the good news about yellen is she had learned her lesson about what happened when the fed raises rates in the absence of inflation. and it's scirlless. it really is, on the part of the fed toe move on rates in the absence of inflation. >> the fed believes growth cases inflation. it's not true. if the economy produces more apples, the price of apples falls, it doesn't rise. go to walmart and tell me the prices are rising. they're not. lou: i'm note going ti'm not go. bring me apples and we'll talk. the president is doing important work. he's the man who set the global agenda, not just the u.s. agenda. >> he sure has. lou: he understood immediately that we need a balanced global trading system and that the united states had suffered far too much, had squandered far too much wealth. they were free to everyone except the middle class, working men open women who lost their jobs to either outsourcing or a foreign competition. this is a presiden

janet yellen yellen wrote a speech called inflation dynamics that concluded that inflation expectationsor pickup in inflation next year because people don't believe there will be a pickup. if there was one, the fed would react to it. where do you see the most value in bonds outside treasuries? europe? further afield? this year many asset classes fell and returns were low or negative. next year could be different. 3.5% of the bonds yielding . that could be the return next year. next year could be a coupon clipping year. the expansions will be ongoing and interest rates will be topping out. that, soo believe yields returns decent across the fixed income spectrum, but up in capital cash, and structure, the final word would theontinue to expect liquidity premium. focus on risk factors, not simply data. that game is over. tom: we will talk to tony and look at cash later. he is with pimco. coming up, a congressman from flint, michigan. that is all you need to know. we talk about the automaking heritage within his horizon. we will speak of gm and president trump. worldwide, stay with us, this

coming out in a day jj and janet yellen services has. russia's innocent is may twenty and the area of them that would it would all go as soon as they leave calling another other attend criminal there is something on the little bit. say a name they to leave the city said a on an island made last modified code calling on that on that question. legislation. italiani really cannot cannot easily residents on the front but made. a complaint way. in a three three to five all right here in. sales in the late eighties well well. ships stopped at a truck truck a. coccyx lately as well as other women going against. my mind is open for board and along the gulf coast [inaudible] yeah [inaudible] the i don't know i mean i'm very has gone on no no. and i'm calling because you could make it will consider going around i'm. from two to ten ten being the thousands. in the ibm. two problems and spend their limited. this jesus you. top russian situation president on to on on online is a national also ajcc and a little size police the separation cross from ol

taller you are the higher interest rates you are paul volcker, 6.7, his fund raised 11% and janet yellen near zero percent for most of her four years as fed chair so if trump wants lower rates which he says multiple times and has criticized powell, he should have picked her because she was short. >> that chart works and chairman powell taller than the rates have been hiking. >> had a slight height difference between us. >> who would be the better fit well, 6'5", or sara at 5'3". >> same as yellen. >> you can vote on twitter right now. we'll reveal the results at the end of the show and, of course, mike santoli is going to weigh in with your >> with the deciding vote, you mean >> not the deciding vote. >> the deciding volt. >> don't forget the criteria of this is my main point to people who haven't voted yet. it's all about height, so that can really be -- so there can real only be one winner. >> one winner. >> and the president is definitely right about that. >> because nothing else matters. >> right, still to come, former economic adviser jason furman and frederic mishkin tell us whethe

i'm not even a little bit happy with his choice of jay, jay being jerome powell. >> he said janet yellen was too short for the job. her ph.d. from yale and the time she was teaching at the london school of economics and harvard, that would put her at about 7'0". you asked the president about a meeting with putin in argentina. he said this "maybe i won't have the meeting, maybe i won't even have the meeting, we're going to see." he then said this about russia seizing the ukrainian ships. he said "i don't like that aggression at all, absolutely, and by the way europe shouldn't like that aggression and germany shouldn't like that aggression. you know, they're paying 1% and they're supposed to be paying much more than 1%." walk us through how -- hopefully you weren't playing a drinking game when he said aggression. >> there was no drinking game. i was surprised about what he had to say about putin. trump has been so reluctant to criticize putin, he's complimented his leadership and strength and military moves. yet he said he did not like the aggression in the black sea over the weekend. he w

should be higher and now going higher he likes the fact they were low and would have liked janet yellen don't believe that there's any reason to think that janet yellen's 5'3" stature impaired the ability to run the fed and got raise for. >> she was well regarded. >> she did many of the same things that jerome powell did and is doing. >> and she would have got in the same trouble. good do see you my tall friend. cnbc friend. he's taller than me. >>> it's called a segregation tax. homes are undervalued by billions of dollars and having an affect on american families. >>> house democratic leadership elections are under way. nancy pelosi is expected to be nominated as speaker any time now. she's unopposed and is expected to easily win the vote on the nomination. some two disease democrats oppose her arguing that the party needs leadership and nobody's put up a candidate. the vote on the speakership takes place in january. >>> hakeem jeffries won the position of democratic caucus chair. the 48-year-old argued for a shift in the democratic party to reflect america's diversity. you are watchi

. >> this is the president who said janet yellen was too short to be fed chair. hard to take him seriously >> scott, the reason i would say it's absolutely the two parts, did you take a look at the vix right now? we're up 400 plus points where is the volatility index? >> you tell me >> call it 19. >> what does that mean >> it hasn't moved it's all green it tells me how important the g20 is coming up >> people are still betting. >> very large groups of people if trade really matters. does it matter >> i think it matters a lot. >> the yield is on the two year and five year are moving most lower and that's what you want >> if you put up -- is the chairman going >> there is jay powell the fed chair. let's listen in. >> thank you very much it's great to be back at the economic club of new york. great to see many old and new friends and family as well i'm going to begin by briefly reviewing the outlook for the economy and then turn to a discussion of financial stability. my main subject will be the profound transformation since the global financial crisis in the federa

connected in washington but a gun to the federal reserve's head where there's ben bernanke here janet yellen or alan greenspan and saying print fifteen trillion dollars or you know the country's going to get whacked in two shots to the back to you know. we get it we get the image but you know the fact is they will perhaps in the next headline find some hope for their own stock price defense contractors unfazed by democratic gains as republican deficit hawks lose influence the companies that make jets bombs an aircraft carriers for the u.s. military are telling investors that the defense business will still be booming under a democrat controlled house of representatives even as a split congress threatens a return to partisan gridlock the defense contractors namely raytheon chief executive officer this past week was telling shareholders that it's great news that the democrats are in congress because that the money spigot will be open for them they'll be getting a lot of money of course you know in most parts of the world it's not considered progressive or liberal sort of economics and politics

there were rate hikes under janet yellen, his predecessor. we came from zero to range of two, 2.25% on overnight lending rate which banks lend to each other. we're looking at another quarter-point range, to 2.50%. if we accept some of this sentiment out of his proposed remarks, he seems to say that might be the sweet spot, that is sweet for the market. should it be? >> should it be if we look at the chart, historically, neil, we're still historically low levels. even with the eight increases since the year 2015, if you look at that chart, what we've seen over generations we're still pretty low. there are a lot of concerns that even the fed itself has telegraphed, right? it is monitoring asset prices. it is also monitoring corporate borrowing. that seems to be something that we're seeing in a lot of different language. also monitoring "brexit." monitoring what is going on in italy. monitoring trade tensions between the u.s. and china. so neutral, it is a hard number to find. i think that is very much the challenge ahead of the fed. neil? neil:

involved warren yellen lies every trail what lies behind britain voting to drop sanctions against the red sea coast nations has said larger than life his discourse was so full of not get some extraordinary insights that when i go back to london after that ten days with the goal my life seems so small. newly jokes painting. going underground. i've been saying the numbers mean something they matter the us is over one trillion dollars in debt more than ten white collar crimes happen each day. eighty five percent of global wealth if you want to be ultra rich eight point six percent market saw thirty percent rise last year some with four hundred to five hundred three per second per second and bitcoin rose to twenty thousand dollars. china's building two point one billion dollars a i industrial park but don't let the numbers overwhelm. the only numbers you need. remember it was one you know for the mid one and only. welcome back the u.k. has for years in forced sanctions against what is being one of the fastest growing economies in the world but within the past few days a british drafted re

could possibly look like because they do believe in the greenspan put the bernanke he put the janet yellen put and now the power they do believe that the fed can come to the rescue because that has happened over and over because you mentioned the things that have happened like the one thousand nine hundred four bond market sell off and then what happened the fed came to the rescue didn't they because things resumed interest rates resumed down you could always roll over your debt you could always accumulate more debt and remember that mantra is always that it doesn't matter how much debt we all have because it's our servicing how much it costs a service that debt and that servicing the debt keeps on going down other than for the u.s. government remember we showed that a few weeks ago where because they accumulate so much debt even despite low interest rates they're servicing costs are going up every airline servicing cars for us just a half a trillion and rising and if their interest rates rise by one or two percent then america technically is insolvent and block a man the predictions of a

it he's never spoken out about it he's never said anything is never said down greenspan or janet yellen or ben bernanke or powell has never said look do your job raise rates right now to five percent do it now of course know why because you see there are complicit stupid or both ok well he can't and he did leave the federal reserve in one thousand nine hundred seven so it's been quite a few decades since he's been there but we're going to talk about another story now and that is over fish increasingly likely as countries began using military force to protect critical commodity so there are similarities between the world's reliance on oil and a comparable dependence on fish oil is a very conflict ridden sector yohann burgan us senior director of public policy at the washington d.c. based technology from vulcan he says i believe there are some numbers that say twenty five to fifty percent of all conflicts in one way or another and different by lack of or access to oil they're saying basically the concentration. fish especially tuna is in the pacific it's something sixty percent of all big

he has inherited communication strategy from janet yellen, act every quarter and signal well in advanceat you will do. it is working for him. he is going to keep raising the funds rate gradually to the neighborhood of the neutral funds rate. he also hopes that once he is in that neighborhood that it will become more obvious. that sums i 3% to 3.25%. to 3% to 3.25%. joe: does that create volatility in the pace of expected rate hikes? ok, maybe we could have six more easily just because it is not a bigger leap to have them more than one a quarter. >> that is right. the one thing you immediately notice is the slippage in communication policy. when the fomc issued a statement on february 4, 1994, it was two sentences and they thought it was the only time they would do it. for every action, then they had to start issuing it every time. press conferences -- next thing you know press conferences create orphan meetings. it creates an optionality. obvious that there is a distinction between a meeting that is dead because you can explain in a press conference to one that is live. they probably wa

yellen says she is sympathetic to the financial industry's concerns it is being overregulated, pushesed about the pendulum swinging back to far. she spoke at the new economy performance singapore. >> i do see the sentiment and -- and the going push is not going in the direction of the regulation. we think buffers are reducing authority and i'm worried about where this is going. it is only than a decade since the financial crisis. it is really too soon to be moving in that direction. bank: the european central made its choice for the new head of its bank supervision unit. it will be the current chief of the european banking authority. he beat out the irish central rry.er shannon donova global news 20 hours a day on-air and a tictoc on twitter powered by more than 2700 analysts and analysts in more than 120 countries. this is bloomberg. guy: thank you. i wonder what the last three means going forward at the ecb. we have a divided congress. ,e are joined by marc lotter special former assistant to president trump. a 2020 trump advisory board member. the polls predicted gridlock. we have g

i think than the yellen fed would have been.one of the things in addition to the market selloff that i've been listening to them very closely talk about. powell talks about it. clarida is talking about it. i got to ask him about that directly and i know randy quarles is open to that. >> thank you mohamed had a lot of questions for you. we are getting a lot of questions for mohamed from our viewers. mohamed el-erian is our guest host today i want to start with a different one than i told you in the control room matthew bri will asks can he comment on the stock prices and move higher together they always seem to be in odds in one way or another. >> look at europe. the differential between the 10-year here and the 10-year in germany is now 270 basis points. if pt you want to have a long view on rates, you're taking a long view on europe. >> that will be what holds us? >> correct and that's really important. you're not taking a view about the correlation with u.s. stocks, et cetera. you're taking view with the ecb. and it's a surpri

vonnie: the dollar is softer now in the session, but even the likes of janet yellen was drawing attentionstronger u.s. dollar. what's the intermediate outlook? they are all hawkish in one way or another but i am waiting for fed chair powell tomorrow and on thursday. we also have cpi. the pair it do with is trading against. withuro is extremely weak the italy and eu showdown. brexit hasn't had any positive notes, so when you look at the currency it is all about the pair it is against. cpi tomorrow will be crucial in confirming this movement in the dollar. andill see what tomorrow is if it closes above 97, it is arguably going to be higher for the next 30 days until the fed meeting. vonnie: bill of blue line futures from the cme. guy: let's talk about the stock of the hour, it is vodafone. today,eading in europe our media and telecoms reporter joins us. income investors pretty hast the -- pretty happy. >> the concern going into these results we see a cut and that has not happened. guessept it flat and so i the worry for that is the acquisition of the deal would really stretch vodafone's lev

. >> this is in reference to president trump talking about yellen's hieight. >> she was short and he- other people if she s short. >> there is nothing you can do about it you can do a lot about right here but you can't do anything -- i used to tell my kids that but both of them will end up being taller than me. >> my late dad, now i am my dad's height i would qualify a lot of positions under president trump and those would be taken away now. >> nvidia and dell >> we got a piece today that says advance micro it had been kept down by the crypto craze >> i do think the crypto craze is over. i think advance micro is a great situation and nvidia can run sales force was as remarkable display. you got to stop thinking of the cloud, cyclical and the digitalization of the world. this is its center driving it. >> we want to talk more of sales force which is up 7% your friend mr. benioff had positive things to say of the overall economy. i am reading here from the call. he may have said different things on "mad money." i am not sure where he we'll get all the people that we need to hire it is a

. >> this is what yellen has talked about there's financial conditions and then there's trade and larryout that with andrew ross sorkin. take a listen. >> if the path remains the same in the next few weeks. then we'll have a full-fledged trade war. >> what does that look like? >> the tariffs the president proposed i think china is a very strong, very proud nation. i would have -- i think they are going to stand pretty firm i think privately they will negotiate but i don't believe it's worked for them at the moment so we had similar problems with negotiations with mexico and canada. that was stalled and stalled until we came to a resolution. so let's hope i'm wrong. let's hope china and the u.s. comes to an agreement. >> so we have the lightest ism since april. prices paid went to 71 can this go on how much longer can this go on >> we had already got an glimpse of that with the flash market pmi this week. we saw input costs are going up. companies are talking about in the third quarter earnings season as well i think the question for 2019 is how much do costs get passed on to the consume

talkinganet yellen about seeing three to four hikes in the next year. >> they are staying on the same mande, they do a mandate to -- they are on the same mandates, they are working on unemployment and we are at the lowest, inflation what that number being close to 2% and as long as those mandates are met i don't expect chairman powell's mandate to change. i think they will be on track for a hike next year. what the language might change to say is that they will be more cautious about any downward trend in any of the economic data, which is not much different than what we have seen before, but that is what the market is looking for going forward. >> one of the things we are hearing a lot about is infrastructure. most of this seems positive on that front. this could provide -- to the economy. >> the good news is that with the democrats taking the house, republicans holding on to the house of representatives, the middle ground could be some sort of infrastructure plan. whether they come to the middle said, but yet to be we are fairly optimistic that there is some sort of plan that will g

and we heard janet yellen make comments that it is for that reason that the trade deficit is wideningot for other reasons. gnm, we are looking at the micro movers. gas and oil. you can see the commodities complex, that is really interesting today. natural gas up another five points, 2%. not all-time highs, but moving higher quite strongly. and some of the currency is moving as well. the mexican peso is down. but some of the asian currencies are longer on the idea that there may be a restart to talks between china and the u.s. guy: we continue to monitor what is happening with brexit. we now understand, this is of the last couple minutes, that there will be a brexit cabinet meeting on wednesday. we understand the text has come back into without earlier reporting that the text has come back from brussels to the u.k. the pound making headway on the back of this. up trading north of 1.30, around 1.3%. let's get analysis on what we know and what we are trying to figure out. emma ross thomas is joining us. we also joined by iain stealey, portfolio manager at jpmorgan asset management. what

they don't mind a big all yellen population in the united states because they send money home to theirome country. they can do a lot more and i hope they do. trish: tom, thank you so much for being here. another caravan is making its way towards the border. this is the fourth group of migrants now en route from the capital of el salvador. police officials estimate their ranks to be as large as 2,000. we have seen a lot of these caravans grow as they make their way to the u.s. the president talking about the caravan and saying we are prepared. watch him. >> we are toucher than anybody. we are tougher than any force. and we are probably going to have to be, unfortunately. i tell them, turn back, and they are not going to be released. it's called catch, but we take the word release out. we are not releasing anyone. >> the president vowing to send up to 15,000 troops to secure our border. joining us, nigel farage. this has turned into something. we have reports of people in the u.s. creating their own militias. they want to be armed so they can fight this assault as they call it. nigel, is

janet yellen was very explicit about, i am looking at the labor markets particularly.a capacity still to absorb in the labor markets? but we are not getting a clear sense from the fed. do you think the fed is doing as good of a job as its predecessors in communicating about what the narrative is and what they are looking at? doug: i think that depends on the chair. jay powell is developing his narrative. i do not think it is crystal clear to markets yet because so relatively new in the job. even just saying, we will focus on labor market, i think most people would have thought that suggested the rate down to 4.5%. it is well below that. even if you know the red indicator, it is hard to identify the stopping point. i think that is what they are going through now. inflation has not picked up the way they expected. what is the right stopping point? it is a tough thing to convey. i think they have been hurt by a comparable difficulty over on the trade side where the market is looking at trade negotiations, does not know with knowndpoint is, does not what data would suggest

janet yellen has been pretty vocal about -- guest: i think right now earnings are strong. 50 year lows unemployment rate gdp is going well. i think that all continues. we went back and studied all the rate recessions going back to world war ii. 75% of the time, the recession begins one year after the fed stops tightening interest rates, when they tighten from 200 basis points or more. will be more than 250 basis points in the last tightening next september, bringing a recession one your hands. i am more third-quarter 2020 if i had to pinpoint a time, but certainly not next year. probably the following year. vonnie: you believe it is the rating agencies that will start this, and then a cascade? guest: i believe it is weaker gdp, higher interest rates, exhausted economic policy that starts it. number two, i believe there's an enormous amount of overleveraged companies, a record number that exist today in the marketplace, rated at way to i have a rating. when they fall, because they are deleveraging, it becomes more apparent when earnings turnover that they are going to get crushed. right

for some reason, these globalists all tend to be jewish finance years, blank fine, yellen, george soros, gary cohn. given these smears, one can conclude that elements of the republican party are clueless or encouraging it. america has a history of paranoid politics infused with the belief there is some conspiracy to betray the public. these voices used to be peripheral voiced by marginal figures. when they seemed to be growing as with the john birch society in the 1960s, those like buckley denounced them. today, senior republicans emulate them. president trump has given a ringing endorsement to alex jones the country's most influential and extreme conspiracy theorist. trump said in a 2015 interview with jones, your reputation is amazing. i will not let you down. the republican party has many good people and good ideas. none of them married while it feeds conspiracies and paranoia i think theed with bigotry and anti-semiticism. until that cancer excised it should not be entrusted with power. for more, go to the website and read my "washington post" column for this week. let's get started

it is an independent agency -- i should point out that the president criticized janet yellen when she the fed chief. he said that she was given a gift to obama and being politically too helpful to obama in keeping interest rates low. now that he's president he'd like the same thing, too. >> found the boogieman in powell. >>> one critic is not impressed with the president's gut. >> what he said today that his gut and his opinion is a lot smarter than most people's brains. [ laughter ] i mean, literally you can't make this stuff up. i mean, it's -- you know, a dozen times ape day, your head is spinning. >> hillary clinton in toronto with former president clinton kicking off a paid month-long speaking tour on tuesday. they plan to hit 13 cities. when secretary clinton was asked if she will run for president in 2020, she joked that she was thinking about standing for parliament in canada. got a big laugh for that. >>> republican cindy hyde-smith will keep her senate seat holding off a democratic challenge in mississippi. cnn projects hyde-smith will defeat democrat mike espy in the runoff

focused your speech on the subject of financial stability, although the federal reserve, under janet yellen, was concerned about the capital of banks and liquidity. she said that monetary policy should focus on inflation and unemployment. the financial stability was not a responsibility of monetary policy. do you think that monetary policy, interest-rate policy, should take financial stability into account as well as unemployment and inflation? >> thank you, marty. the question of whether monetary policy should be used to address financial stability is one in which there are two schools of thought. is what martyiew articulated. monetary policy has goals. stable prices, maximum unemployme -- maximum employment, how best to use regulatory policy. i would agree that monetary policy is not a great tool to address that concern, and it is preferable to use supervision regulatory tools to address financial stability to the extent we can. it is not ideal to add a third objective. it is not a tool that fits tightly with objective of financial stability. on the other hand, it is hard not to keep in m

we had for last nine years yellen, bernanke low interest rates.ney flooding into the housing market. lowest new housing starts per population, last nine years were lowest nine years in history. now we have rates coming up, which will attack capital to the market. i think powell is doing a great job. paul: okay. >> i am worried about trade and spending. but i always worry about stuff, paul. paul: no you don't, art. you're the most optimistic man in the world. >> i am, i am. we have the tax cuts behind us. that is the best bill ever. that tax bill had almost no mistakes at all. deregulation is just fantastic. monetary policy, i think trump and larry kudlow are doing a great job getting some trade negotiations. if the president meets with xi in argentina i can't help but think this will be huge plus for america and china. paul: how much is at risk if there is change in the congress? obviously president trump has the veto pen, so he can veto anything he will do. there will not be big enough margins to overrule him on that. but on other hand the democr

commensurate with a combination of inflation and productivity growth, that's not seen as inflationary janet yellen i am pretty sure jay powell agrees, if you had wage growth 3 and 4%, take 2% inflation, 1% productivity, that's not inflationary. they'll watch that labor force participation but that's not an absolute trigger >> steve liesman, thank you. >> pleasure. >>> closer look at faang stocks and where silicon valley is hiring mark may joins us here at post 9. mark, happy friday >> happy friday. thanks for having me. >> you put out a report looking at hiring data among the tech sector what data are you analyzing, what's the read through for investors? >> we're scraping the job sites of all companies in the internet sector for a sense of pace of job openings through the year. business units in which they're hiring and to get a sense, it is a predictor of expense growth which is an important theme within the internet sector this year, right? facebook hiring tens of thousands of people to scour the site, to protect the community on that site obviously amazon preparing for the holiday season is hir

it reminds me of late 2015 we had the big selloff in august, and yellen was determined to hike for theirst time in the cycle december that year and we got it in. and the market was up off lows, wasn't in a distress spot, you got it in and that was it for a year in terms of fed rate hikes. not saying we're there again, but it is familiar. >> small cap biotech >> that's right. >> mike, thanks. look at the faang names, apple is the big laggard today, down almost 3%. some of the others are coming back in the green. bring in former twitter ceo to talk about the selloff the past several weeks. welcome back always good to see you z. >> good to see you as well. >> curious to know your thoughts on not the selloff itself, how changes in credit and equity valuations the past few weeks are changing the way business is getting done in silicon valley the way budgets have to be changed, hiring plans need to be changed, if at all >> i would say it is probably less magnified, less amplified than you might think it is largely in the financial sense here, the perspective has been that everything was full

some people who think they are but jay powell is trying to follow in the careful footsteps of janet yellenit so there is not inflation which hasn't been a problem in a very long time because the fed has gotten good at that. in terms of yanking subsidies from general motors, you want to yank subsidies from everybody but to punished general motors by taking away their subsidies that sounds like crony capitalism in their worst, the same thing that republicans and conservatives are supposed to hate more than anyone else. >> bret: not a traditional action, mentioning specific companies in this action in this way. yet, again, does he have a point about u.s. subsidies for a company that's choosing to close plants in the u.s. and not close them in china and mexico? >> tweets gave me flashbacks of 2008 which when he talks about the american people have given gm and other companies a lot. that goes back to the argument that we should never have bailed out those companies in the first place, they should've come back on their own rather than being propped up for years. they are continuing to sell cars

fed past, greenspan, yellen, they take longer time to adjust some of those nuanced changes.owell and his crew already commented, hey we'll slow down a little bit, given slow down in investment, shows we're really in turn how the market is behaving here. >> i think only reason companies are holding back on because of business investment because of trade issues, charles. when you look at the trade deal, potential of the g20, potential president trump and president xi of china coming to the table, with a new agreement or new deal. that may be what some companies are waiting for, because the tariffs hurt companies here and the u.s. charles: dollar has done a lot more damage. michael kors stock down 17%, because of strong dollar. google to 3m. let me ask you about today's session, heather. a lot of bright spots including retail, ulta beauty which i'm in, subscribers are n it will be down 11 bucks. 15 bucks. remember crocs. you must remember crocs. >> i didn't wear them. charles: someone is wearing them. the stock is up 183% in last 52 weeks. these retailers building a head of ste