the data will flow fast and furious, will it change anything for janet yellin and the feds. a new prognosis for two of the nation's biggest entitlement programs. medicare and social security. merger monday, $12 billion in deals helping to lift spirits on wall street. we'll tell you who is in a buying mood and why. all that and more tonight on nightly business report for monday july 28th. >>> good night, everyone. the week started with a hint of optimism, thanks to a dual of deals. there was greater caution as investors paused ahead of a number of high profile earnings this week. the white house says it expects the european union to impose new sanctions this week against russia, and that the u.s. will impose additional measures as well. and deal news which saw dollar tree and family dollar get together offset discouraging pending home sales for june. more on that in a moment. at the close, the dow industrials were up 22 points to 16,982 and change. the nasdaq, though inched lower, falling four and the s&p 500 rose fractionally to 1978. attention now turns to some very importa

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peter barnes is on capitol hill to break down yellin's testimony.right when i say it was not one comment about stretch evaluation and some companies that affects the market? >> it was. it was buried in the fine print of this official report that a coming yellin's testimony to congress. it reads quote signs of risk-taking have increased in some asset classes. equity valuations of smaller firms as well as social media and biotechnology firms appear to be stretched with ratios of prices to forward earnings remaining high relative to historical norms. but for asset classes in general she didn't sound the alarm. here's what she said. >> prices of real estate equities and corporate bonds have risen appreciably and valuation metrics have increased. they remain generally in line with historical north. reporter: she also repeated that she would not in the fed would not try to top any emerging market bubbles by raising interest rates, rather it would try to do that through relation. liz: i'm quickly checking social media stocks, we have facebook and when i ha

>> now, because i knew with yellin speaking it would go with every word.wn a lot of social media stock and i wasn't concerned. intel, we talked about-- charles: in a minute. i'm really more concerned about the action and market today because i think people watching this show will start to get with sought. a lot of people probably so bill social media stocks probably at a loss and i think they will regret it. >> i think it's a long-term investment. you can't watch day today action the market especially intraday because get ask yourself reinvesting for a long-term? what happens on one day should not be a long-term decision. charles: although the pain eventually there will be significant pain, it will be associated with bad action and we don't know the time stamp. how did you react when he saw the market pullback? >> if you look at the 52 week highs and lows in the fundamentals we talk wet all the time. i'm not a day trading all time, but when you are looking at the stocks you have to look at what matt said long-term and-- charles: yada piÑa colada and a mart

janet yellin has heard warnings that valuations of stocks and bonds are too high but prices are in line with what she has seen in the past. >> the federal reserve doesn't take a view as to what the right level of account or asset prices should be but we try to monitor to see if they are rising outside of levels consistent with historic norms. >> yellin testified before the house of representatives financial services committee. she and her colleagues have kept the key interest rate near zero. she addressed concerns that it could lead to an asset bubble where prices of stocks and bonds become overinflated but said she and her staff are looking out for investors taking too many risks. >>> and the dow jones industrial average finished at another record high. the positive momentum carried to tokyo. it is still in the positive. analysts say the upside may be limited. investors are waiting to see business results for japanese -- the euro is at a five-month low against the yen. people who check the markets say traders are selling the euro against major currencies. the outlook for the region's e

i encouraged you to own one biotech stock even if you agreed with janet yellin they are stretched. honestly, puma's success is so startling. oh, fed chief yellin, i am so glad you knocked only more capital media companies, because facebook, a very big capitalized social media company is roaring in after hours because of some astonishing good numbers reported this very evening the bottom lean, i know the conventional wisdom now says it's impossible to make money in individual stocks with any regularity. it's accepted gospel. but as you stroll down the supermarket aisle past lay's, frito's, pepsi, gator aid, quaker cereals, think, was it all that hard to find the stock of pepsico? sure, maybe you're more likely to own puma if you went to a dick's sportling good rather than the lab. the company was opt mick about the drug. you could have been too, how about pat in new york? >> caller: pat from staten island. >> good to have you on the show. >> caller: boo-yah! a get rich capital, it's great info. >> thank you, man. we had a lot of the stocks of the ceos who have been knocked. stocks a

and volatility returns and janet yellin dips herb toes into the stocks. >> and a smart move for shareholders? what's the buzz in the world of coffee? why prices are going up. and whether the little guys can take on the starbucks of the world. >>> and a way to save for retirement that you don't know about. a roth ira, how does it work and is it write for you? "on the money" starts right now. >>> here's a look at what's making news as we head into a new week. >>> air nervous week for markets because of global events. the dow had its worst day in more than two months on thursday falling below 17,000 after the malaysian plane tragedy in ukraine and israel's ground invasion of gaza. and the s&p had its worst day in more than three months and the volatility index spiking more than 30%. but the markets recovered on friday. we're in the thick of earnings's season and so far big financial companies are doing well. jp morgan and goldman sachs and morgan stanley all beat analyst expectations. in the tech work, intel, ebay, google and ibm came in better than expected. yahoo! fell short. and a massive me

janelle yellin continues to demonstrate genuine horse sense in her desire not to use higher interest rates to combat financial risk taking. with the dow climbing 90 points. nasdaq decline d .02%, i think it's worth explaining why i believe this bull can actually keep running. even though you could get garden variety pullbacks along the way. here's the thing. sometimes you need to sit back and try to wrap your head around why a stock that's been a terrific performer could still go higher. i say sit back. when we see a stock that had a huge run, our natural inclination is say too late. you look at the market's winners -- winners keep powering higher. why don't we take a moment to go over the winners. defined as stocks that have moved up the most since we hit dow 6,000. i will show you how to buy these stocks. it's still imminently reasonable. let me take the other side of the trade. tell yourself you missed each one of these moves and move on. let me take the other side of that trade for a second. let me explain how these five winners can keep climbing. we have katcaterpillar up 30% se

as we mentioned, we have yellin's testimony and it wrapped up today largely a non- event in my opinionreiterated some acute occasions recently. you mentioned we have good data out of china. we had earnings so far that has been good as well and we really haven't seen anything new as far as that next leg up. we are hanging onto any size from a couple weeks ago and i think the longer the s&p is here, the more susceptible it will be to a port to 5% correction of the next two weeks and that's a indication that it looks like it could be in the cards and it's not much, but it would take us from those 1980 levels beneath 1900 and it is certainly sunday we have an ion and it break any higher. i think that is the next course of action is the one 1980, that was a good ear. the s&p right now seen again about seven points. general, thank you very much for joining us on the floor show. we are 38 minutes away from the closing bell. 21st century fox, time warner talks have got the whole of wall street buzzing , not just the media analyst. coming up we have two very unique perspective on what could hap

also on tuesday, federal reserve chair janette yellin will testify before congress on monetary policy. then on thursday we'll get housing starts. also on thursday general motors' ceo mary barra returns to capitol hill to testify about the company's massive car recall. >>> according to a recent survey, three in four americans are planning to take a vacation this summer. that's a big number compared to 59% in 2012. hitting the road or flying the friendly skies doesn't have to wipe out your wallet, however. travel and leisure's international editor mark orwall has websites and destinations that can save you big-time money on your next get away. good to see you, mark. thank you for being here. >> sure. >> so the july 4th weekend we saw the cost of domestic airfares up 3.5% or so from last year. hotels were also up. so now that we're into summer, is it too late to get a good deal? >> no, and i'm going to tell you some, give you some websites, some apps that are really going to help you and everybody else. let's start with airfare. you know that if you can be a little flexible you can get b

yesterday yellin told lawmakers that the economy is improving but slowly. she did leave door opened to raising interest rates sooner then expect if the job market picks up and that sent stocks lower, the closing bell, dow jones was up five points, nasdaq lost 24. >>> former rivals apple and ibm are now working together. two tech companies are creating 100 symptom use mobile apps, they are targeted at ibm's corporate customers. this exclusive partnership looks to bring more iphones and ipad in the business world. company say the apps could be used for wide range oftories that would help companies, save money. >>> that afternoon check late fix just got more expensive, hershey's is raising prices on its kisses, recess, mounds bars and other candy by 8 percent. the nation's top candy producer blames rising cost of food like cocoa, plus increasing utility and transportation costs. and, fit band are fashionable. torey birch is out with the fit fit, activity track their look like jewelry. is there a gold bracelet that cost $200, pendant that cost 175 and less expe

also on tuesday, federal reserve chair, janet yellin will testify before congress on monetary policy and on thursday, housing starts. on thursday, also, general motors ceo returns to capitol hill to testify about the company's massive car recall. >>> according to a recent survey, 3 in 4 americans are planning to take a vacation this summer. a big number compared to 59% in 2012 hitting the road or flying the friendly sky doesn't have to wipe out your wallet. our international editor has the websites and destinations that can you big-time and money on your next get-away. good to see you again, mark. >> thank you, sue. >> thanks for being here. so, july 4th weekend we saw the cost of domestic air fare was up 3.5% or so from last year and hotels were also up. now that we're into summer is it too late to get a goode deal? >> no. and i'm going to give you some websites and some apps that i think will help you. and everybody else. 'll start with air fare. if you can be flexible you can get better airfare. it's called adios. you can see europe, sometime in the fall for ten days and it will g

we'll also hear from fed chair janet yellin who testifies in front of congress about the committee. >d the u.s. justice department are expected to announce a settlement today. the nation's third largest bank has absolved to a probe. $2.5 billion in consumer relief, and citi will likely have homeowners modify their mortgages. >>> the owners of the trump plaza casino will send out notices to workers today warning them they may close in mid-september. it would be the fourth atlantic city casino set to closes this year. dara, back to you. >> thank you, mary. >>> just ahead, it was a busy weekend for -- there have been more than 200,000 games in the history of major league baseball. we'll tell you about something that has never been done until last night. can take days.tion relieving the itch.... can happen instantly. vagisil max strength anti-itch wipes relieve itch and odor instantly as they cleanse. so why wait to feel comfortable? trust vagisil. the number one wipe for itch. now, drench lips with glossy wet color. new revlon colorstay isture stain™ weightless, creamy lipstain saturates

. >> janet yellin when she talked about monetary policy somewhere along the way, she said, monetary policy engines the effect on financial vulnerabilities, you know, such as excessive leverage, et set remarks et cetera, she means derivatives, i'm concerned about the derivatives, i always have been, warren buffet called those weapons of mass destruction, but we still have them. >> yep. >> that's because you have the cycle we're in and she says, so she says, the effect on the financial vulnerabilities the monetary policy, such as stuff like that, are not understood. now she's saying they're not understood. don't you worry a little bit when, i mean, i think bernacki was great. i think the fed did a great thing in saving this country and they did. who got us into it? wall street got us into it. let not pull punches. wall street got us into the mess. they pulled us out. why they kept some of the management on wall street, i sure wouldn't have. if i had been the secretary of treasury, you woompb see the same management in some of these investment banks. some are very good again. some aren't. bei

fed chair yellin mentioned at one point six months or something like six months to quote her exactly. but we do think it's a bit longer period than that and more data-dependent. but again, the focus will be very much on what is next out of the fed. when when at the moment, they're continuing to ease. >> let's look at some of the stock sectors in which you're expect fog interest rest of the year. for this first part, utilities, energy, health care. they were the big gainers. what sectors do you think will do well and which won't do well over the next six months? >> well, we saw a backing off of long-term interest rates in the first half of the year that we would not expect to be repeated in the second half. there have been good reasons why we've not seen unrelenting risers in interest rates, including the fact that u.s. yields are double german yields. so i think interest-sensitive sectors of the market will have a difficult time repeating their first half performance. the energy sector is interesting in the sense that global risks to oil supplies have picked up with the events both in

shopping comes to a complete halt you know george osborne to be on the lecture circuit with janet yellin for two hundred thousand you know for lunch dollars if you are talking about how they save the british economy when in fact he jammed it up his frank frank by looking through his teeth day and you say oh but here but if you look at the budget budget deficit and the public sector borrowing for june just take that number year on year ok that's up about forty percent so they had a it was eleven point four billion which is about right you know you know how does boring i want to move on to my next point listen to this arc and then you know our style your charts are all for get a base they get it out there were moving around i never got a minute left i'm going to this is the other this is the proof of osborne's law ok running for prime minister so it's you can ask the question ok income tax on revenue the treasury went up three percent still is up forty percent. i didn't that points out in no uncertain terms of black and white the law it's all based on real estate speculation not on a real

we started the top of the show, yellin knows exactly who this guy is.he federal reserve i mean they're probably naming his name quite a bit. it matters. >> in the paper, you were pretty circumspect act not describing the policy, the macroeconomic policy that implications for the fed of your conclusion being on the margins are not affecting the outlook for labor market there is a lot of labor slack. it should be much tighter. is that the policy you should draw? >> you said they're fine, they're not behind the curve. >> i have been kaurks i'll tell you why, there are a lot of factors. some of the shocks have been on the upside which have been raising inflation like we seen with energy and food. the fed thinks their transits, they may be right. they may not be right. i would focus more on clear signs of inflation i tried to stay focused on the economy to stay away from the policy because i knew the paper would be controversial. and i also think the fed has mr. inflation worked for so long, we have been below 23% for so long. it's okay to be a bit asymmetri

you have to mention janet yellin's off the market cuff, whatever she was thinking, totally inappropriateace not stretched for valuation at all. i think they put out a letter the next day. this pace is not exaggerated and the companies that are the retically bioteches that trade like big cat pharma, celgene being one. there are solid companies here that got call in the malstrom of what she said. shouldn't have said it. i like the space, still in there josh has been listening in on the conference call, what itself the latest? >> reporter: the apple conference call here, ceo tim cook talking about the quarter the company's execution in the quarter. here's what he's telling an a lists. take a listen. >> we had earnings per share up 20% year over year, our high effort growth rate in seven quarters. we sold over 35 million iphones setting a few third quarter record. we 16 rated healthy growth in our entry price, mid-tier and lead icategory him i'm especially happy about our progress in the brick country. >> reporter: yeah, brick iphone sales up about 55%. also talking about ipads. the sale is

i don't know if it was so beaten up with the yellin sell last week or maybe facebook is going to rallyverything with it. >> lots more couple lus. i like i.t. has not done anything different, i like it here. >> negotiator. >> yes. i like schlumberger. >> i'm melissa lee, thanks for watching. see you tomorrow for more "fast.""fast." "mad money" with jim cramer starts now. >>> my mission is simple. to make you money. i'm here to level the playing field for all investors. there's 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 a little money. my job, entertain, educate, teach. call me, 1-800-743-cnbc. or tweet me nicely @jimcramer. why didn't this market get absolutely crushed from all the global worries today

. >> janet yellin made some comments yesterday.ed to me it was almost and i rational exuberance moment where she was saying some areas of the market junk bonds, technology stocks, biotech, it looked look they're overvalued. what do you think when you hear that? >> what i think is what does janet yellin know about valuation? there are pockets of overvaluation, but in the broad market we are talking about a 16 multiple, a 2% yield, fed funds, as evidenceing that. if i said to you the economy is growing 2, 2.5%. you wouldn't think the market multiple would be 16. i'm not exuberantly bullish. i think the market is basically in a zone of okay. what would make me negative is one that if we start to see evidence of recessionary conditions and we are seeing quite the reverse. i have 18 partners and associates covering a thousand companies, i'm bound, things are getting a little better in the economy. so recession would make me bearish, fiwas smart enough to see one coming. second, i think it would make you bearish. if we went up clearly 10

yellin had an interview later on and it didn't do much for the market, but when people see the data tog they start to get worried. >> adp generally overshoots the government number, so i'm a bit weary of the adp number, but with that said consumer staple stocks are up. this means as employment people start if you're better about the implement numbers and they start buying more. charles: that triggers a virtuous cycle. the mac 17000, the more thought about it threat the day it will mean something. it doesn't mean anything to me, but as tracy mentioned it gets people excited again especially if we go into a long holiday. >> i wonder if the traders are creating this because it's like are we there yet? you and i quite now all of a sudden there is bam we are there in that everyone hates this rally. and the great tree. if you think we are in okay shape because the stock market wait till the fed stopped printing money. the mac is that real? >> yes. charles: we will be back. i think that is what makes this rally so amazing there are a lot of chuck woolery's out there and people are like i don'

the data will flow fast and furious, will it change anything for janet yellin and the feds. a new prognosis for two of the nation'sentitlement programs. medicare and social security. merger monday, $12 billion in deals helping to lift spirits on wall street. we'll tell you who is in a buying mood and why. all that and more tonight on nightly business report for monday july 28th. >>> good night, everyone. the week started with a hint of

shorts have accumulated over the last couple weeks and few days when janet yellin started about the qe in april. the gold was looking like a decent short play up until this morning, up until last night. so i didn't see a whole lot of new buyers come in certainlily that can change. >> hey, anthony, it's bk. if you came in this morning and somebody told you there was going to be a gaza offensive, a plane shut down, how high would you say gold would be? would you say up 17 to $20 was the right price? >> absolutely. i would, i'm almost looking to fade this rally here. it doesn't matter so much as the gold market goes. let face it, the israelis and gaza, we have done this dance before. we have seen it over the last five years certainly the downing of the plane crash makes a lot of difference. can you see this open $10 lower tomorrow if there wassome other reason it crashed if there wasn't some kind of military action. >> i think i would have thought it would be up anywhere from 75 to $80. >> i don't think so, as i said, this is a very orderly move, it was more shorts covering the market. >>

and mess of his sight how his neighbor are coming together to help find a cure for his i'm sheldon yellind i started my career rebuilding homes for one family at a time. today, our companies help build something more. for 28 years, belfor has been restoring homes and businesses destroyed by fire, flood, or any disaster. and even though we've grown to over 6,000 dedicated people around the world, for me, it's still about helping one family or business at a time. at belfor, we're restoring more than property. ocan you fix it, dad?. yeah, i can fix that. (dad) i wanted a car that could handle anything. i fixed it! (dad) that's why i got a subaru legacy. (vo) symmetrical all-wheel drive plus 36 mpg. i gotta break more toys. (vo) introducing the all-new subaru legacy. it's not just a sedan. it's a subaru. >>> all right. well, we have to say good bye to the weekend at least for now but by the end of this weather, we will be talking about next weekend because that is what we do in the seven day forecast. so the the temperature trend over the past five days has in the been too extreme. we have in

a look at today's market drivers, nasdaq ending the day in the red after that reserve chair janet yellinoncern in some corners of the market. healthcare and consumer staples lead today's the client. oil falling below a hundred dollars a barrel . a supply disruption concerns eased with libyan output gains. crude ending the day trading down nearly 1% at $99..96 per barrel. retail sales increased late last month coming .2%. the report by the commerce department shows sales were held back by a sharp drop in building and garden supply stores and 80 client restaurants and auto dealers. liz: david, shares of intel extending their gains moment by moment after hours, up more than 3% on a strong second-quarter earnings report. intel showing a beat on both earnings per share and revenue, we will get into what is driving at. the chip giant trading out at 10 year highs and riding the wave of enterprise pc demands. pg-- pc demand from businesses. dreaming now stacy smith intel chief financial officer. welcome. great numbers anyway you slice it and i guess the top headline for me as the pc death has be

third, this contingent is losing faith in fed chief janet yellin and they're growing negative on thele stock market because of that. you often hear people articulated in this fuel and they're strident that the fed has become a joke and they're giving you the manifesto of this angry person crowd. i consider them old yellers. people who care about the individual earnings of individual companies because after all, it's earnings season i'm a throwback to this group. these people take group action, buying entire sectors when they see good earnings from one of the group's members. so, for example, amgen, big biotech just reported a terrific number which sent up gilead, celgene, regeneron benefitting from positive data showing its anticholesterol drug could help prevent heart attacks and strokes should be taken in conjunction with anti-cholesterols and could be huge or american tower reported the cell phone antenna coming and it was a massively fabulous quarter and the whole equipment complex surged and the big telco players must be spending. sometimes these stock focus guys really do go ev

two weeks ago, the oh, so smart grizzlies were chuckling at janet yellin for calling the inflation data noisy. since then, oil and gasoline have been down for ten straight days. natural gas giving up its gains. catch a couple of days of rain in california and come up with a good piglet vaccine, pretty soon you'll be talking about deflation in this country. i'm not advising that you elect to get some surgery to beat the european blues, even elective surgery of the allergen kind. i'm not saying that our country isn't prone to shock, due to a president that's focused on a lot of non-business issues, although that may not be all that bad for the stock market. here's my bottom line, negative european news is no longer a reason to dump american stocks. it's a reason to buy shares in u.s. businesses that aren't prone to the cronyism, indecision, or invelens of an increasingly irrelevant europe. let's just hope that europe wins the world cup. that will keep their minds off the fact that they are screwing up a recovery that seemed so in the cards just a few short months ago. dave in nebraska. da

. >> i have to tell you, i think janet yellin's job is hard.is morning and best in many years. so many sectors are good, but you guys are the most consistent company i've dealt with in the last decade. i don't get it. you've got trends, some great, some bad. what's going on? >> well, we do have some great and some bad. >> right. >> we have over 1 million customers and we're in all these different session ams and sectors and for the last two years all of our modeling has become disconnected. >> give me a trend and give me something. >> i can give you one trend that we hope is beginning to materialize. about 20% of our hard goods business which is a 35% of our sales so 20% of that is a capital equipment purchase buy the consumer. >> by the consumer. >> right. we sell the capital purchase by the customer and historically for years and years and years that was our leading indicator as to what was going to happen to the rest of our hard goods business which was much more directly related to production. >> okay. and finally, for the last two quarters

the data will flow fast and furious, will it change anything for janet yellin and the feds.w prognosis for two of the nation's biggest entitlement programs. medicare and social security. merger monday, $12 billion in deals helping to lift spirits on wall street. we'll tell you who is in a buying mood and why. all that and more tonight on nightly business report for monday july 28th. >>> good night, everyone. the week started with a hint of optimism, thanks to a dual of

talking stocks mixd day for the markets after federal reserve chairman janet yellin expressed concernbout the evaluation of stocks. futures are higher this morning. lays will test a cappuccino clip. the company is rolling out for new flavors giving shoppers a chance to vote on which one to keep. other players bang go salsa bacon mac and cheese and wasabi ginger. there's no coffee in the chips but if you like that taste -- >> you know what, why can't we just have chips. thank you maribel. why does everything la be to be reinvented. clips are clips and they're good. >> i would try the cappuccino. >> reporter:. >> i would not. it's weird. storm tracker 6 live double scan and with our live double scan radar we can see why the national weather service has postd that flood advisory for parts of burlington, cumberland, ocean and atlantic counties in new jersey. getting some heavier rain. let's go in a little closer to this because once again detecting a lightning strike. you can see there on the screen with our live radar. getting pounded with heavy rain by red and yellow. you see that in th

speaker tomorrow could have an impact here and the risk is more hawkish than the conversation that yellinin recent weeks. what are you expecting here? >> well, everybody has their chances taken out, carved out. i think the important one is to see modi if he reflects a sentiment in the more hawkish direction, but the truth is here in the states we are about to enter earnings season. it is starting to accelerate beginning today, give or take. and alcoa reports today with others later this week. what ultimately depends for investors is earnings. it is not charlie evans or these fed presidents, it's earnings. and we are entering another earnings season and expect it to be pretty decent and ultimately for investor that is going to drive the stock prices higher. >> analysts are expecting to see double-digit growth in earnings in q3 and q4 of this year. does that actually make the outlook that these ceos talk about in this earnings season perhaps more than important than the underlying data? >> well, yeah, the outlook is always important. and we say this every earnings season to some degree the

i'm sheldon yellin, and i started my career rebuilding homes for one family at a time. today, our companies help build something more. for 28 years, belfor has been restoring homes and businesses destroyed by fire, flood, or any disaster. and even though we've grown to over 6,000 dedicated people around the world, for me, it's still about helping one family or business at a time. at belfor, we're restoring more than property. >> live bush kills fall, pocono mountain. sue, with her singing voice, now. >> no, but i said hosting an event tonight, where we'll hear a loft great singing voice, not bub to the buddy, still trying to enter the vocalist, at the media theater for the performing arts tonight at 7:00. it is right here state street media. says dining with the stars in media, where you can eat outside, real nice, so, hopefully we'll see. we have everybody from the original competition, we haven't eliminated anyone, so you get to hear everybody sink tonight. amazed how many talent there is locally, a lot of young people, make us optimistic about the future. that's toni

and instead of handshaking somebody today like i just did with the commissioner, you i'm sheldon yellin, and i started my career rebuilding homes for one family at a time. today, our companies help build something more. for 28 years, belfor has been restoring homes and businesses destroyed by fire, flood, or any disaster. and even though we've grown to over 6,000 dedicated people around the world, for me, it's still about helping one family or business at a time. at belfor, we're restoring more than property. or business at a time. box! now at h.h. gregg, you can save up to 25% off store-wide. plus, get another 5% off instantly with your h.h. gregg card. get this whirlpool stainless steel three door refrigerator now only $1499. or a samsung 55" smart tv for just $788. for these amazing deals, and the boxes they come in, hurry to h.h. gregg, and fill your home with happy. >>> all of my love. it's tainted love. you know the dating website that's called okcupid.com? they have come clean yesterday. they say they've been missing around with our heads and messing around with our love lives. k

. >>> and the federal reserve chairman janet yellin testifying on capitol hill, giving pressure perspective on where the economy is headed. she'll be talking about interest rates and the economy. the unemployment rate has fallen theto the lowest rate in six years. she's testifying for the banking committee. she just said the u.s. is on the way to recovery but still has a long way to go. the financial house committee is where she'll be testifying tomorrow. >> a customer doesn't back down when a man comes at him with a knife at a restaurant. we'll tell you what happened. >>> coming up, it's my ongoing series on the trashing of san francisco's federal park. >> just how bad is it? i will show you in the next edition of people behaving ♪ 737. 737. right there? you guessed it. how do we save on operational costs? with the world's largest fleet of boeing 737's. one of the many ways we bring you $69 airfares. limited time sale fares starting as low as $69 one-way. if it matters to you, it matters to us. book now at southwest.com. ♪ [ female announcer ] the internet gets more exciting the faster it

i'm sheldon yellin, and i started my career rebuilding homes for one family at a time.mpanies help build something more. for 28 years, belfor has been restoring homes and businesses destroyed by fire, flood, or any disaster. and even though we've grown to over 6,000 dedicated people around the world, for me, it's still about helping one family or business at a time. at belfor, we're restoring more than property. >> beautiful. >> right? >> ♪ >>> good day philadelphia. that is a beautiful scene behind me, by the way, bush kill falls up in the poconos. start with the bad news, though, rain, can throw a wren. in the weekend forecast, especially down the shore. we are looking at the potential for possible heavy rain early on saturday. that's what the mod rest saying now. time could change. location could change. off shore system brinking in a lot of moisture from the atlantic. that's why. of the high range potential saturday. still storms in the forecast sunday. not raining all weaken but could make for a dreary specially first half of the weekend. fox future cast showing a

yellin today perpetuated that, basically, said it's about the pragmatic oversight of markets and regulators

i'm sheldon yellin, and i started my career rebuilding homes for one family at a time. today, our companies help build something more. for 28 years, belfor has been restoring homes and businesses destroyed by fire, flood, or any disaster. and even though we've grown to over 6,000 dedicated people around the world, for me, it's still about helping one family or business at a time. at belfor, we're restoring more than property. >>> it really hasn't been that extreme of a summer. we have had heat and humidity but then we will get relief like today, so bus stop buddy, big smile on his face as he enjoys his summer down the shore. temperatures were in the 50's for most of the morning but now they are inching in the 60's, no 07's just yet but how about a ten out of ten in weather by the numbers. sunny, warm today, low humidity. absolutely in weather complaints. the rest of the day is up to you. there is a nice breeze out of the north northwest and relative humidity is down to 59 percent right new and current temperature in the city is 67 degrees. we've got 59 degrees in the po

>> janet yellin will be speaking next week.ch how europe opposite, obviously very important. so watching some of the data out of europe and also some of those banks trades. i mean, they got hit across the board. >> deutsche bank, we were talking about this earlier. as we assess what's happening in portugal. just to read you a line in barclays here, they say these two, finding themselves with large placements of paper, looking increasingly unlikely to play. they are under a program until two months ago. a lot of people are wondering why this wasn't dealt with sooner and a lot of people are looking at deutsche bank and the financials. >> i think stifel nicolaus again, they haven't raised a lot of capital. they sold some assets to raise capital, they actually haven't raised a lot of capital, itself. so, again the banks if europe are hand strung because they are the only financing mechanism for the corporations. he knows that. that's why draghi basically said, we will give you as much money as you need as long as you need it to unl

we will wrap up today'd headlines, janet yellin, yahoo, that's all next. at what's ahead tomorrow. we'll be right back. saved 760 bucks. love this guy. so sorry. okay, does it bother anybody else that the mime is talking? frrreeeeaky! [ male announcer ] savings worth talking about. state farm. frrreeeeaky! in a we believe outshining the competition tomorrow quires challenging your business inside and out today. at cognizant, we help forward-looking companies run better and run different - to give your customers every reason to keep looking for you. so if you're ready to see opportunities and see them through, we say: let's get to work. because the future belongs to those who challenge the present. >>> looking back, let's quickly show some of the movers here. intel after hours, see how that company is moving. we just discussed yahoo, obviously, we have the news from apple and ibm as well. intel, after hours moving significantly higher. we talked to the cfoc.c. smith on this show. he told us the margins, de

janet yellin is doing i think a fine job of trying to absorb the labor slack that remains in the economyate staying low for a while. inflation is not a threat. she's doing the right thing. >> apple is growing again, thanks for juan for woking through this, pos tiver cash flow over $10 billion returning 8 billion to shareholders. >> kelly, i'm expecting differed increases, stock buy backs, i'm expecting wonderful things from this company. the only thing you would own it, everybody is detailing. this quarter is very boring. it's very listless, for me, the only reason i own it, it's declared a dividend after jobs left us. they have to keep me a value investor interested. >> a busy hour, a lot going on, "fast money" is coming up in a few seconds, melissa lee, will you get details from microsoft and apple in the calls. >> we are trading the details. also we got a big move in herbal life shares today. one trade is from $60 a share. we will get an update on how he is managing that. a lot of other people are on the boat at this point. >> i hope he is doing fine. >> "fast money" starts right now.

and, in fact, when yellin or i saw somebody else talking about the highest flyers, they tend to thrownecessarily with the social networking and the biotech, that's one where anything cloud-related has done very well steve sing ceo of concur joins us now and kramer, steve, you are on kramer's watchlist at one of the super momentum stocks. i think he said that as recently, he thinks it will be a great quarter starting now and he throws you in with these other names like work day, service now an sales force.com. it's a pretty big company. >> good morning. yeah, you know, we have a great company and we have been, you know, building our business for about 21 years now. the last 14 or so, we had about 25% and so it's a fantastic business, a fantastic opportunity and, obviously, very appreciative of jim's views on us. >> and the way, you know the story. so you've got an employee, russ, our ski instructor. at beaver creek, russ reiner, have you seen him skate, steve? >> he's great. >> he was if colorado. he's unreal. >> anyway. >> he's fantastic. after you e-mailed me, i talked to him about i