Fears about trade, growth and rates. New phones, new watches and a big bet in tv. Your next trade on apple and the stocks in its universe shares of costco soaring 45 this year. But is a pullback coming its our call of the day Halftime Report starts right now. Good to have you with us on this wednesday, 9 11, as we remember and always will your Investment Committee today, joe, steven, jon and pete na, welcome, everybody stocks are higher this hour. The dow trying for its sixth straight day of gains. Not bad. But we begin with the big trade happening now in the overall market momentum apparently is out and socalled value apparently is back jpmorgans quantity grew who called the rotation about two months ago says the flight from momentum has only begun. Id like to start the show, guys, the hour with a stat i pulled out of fax this morning i think kind of will highlight better how big this shift has been 58 of the top 62 stocks in the s p 500 this week, theyve gained an average of 9 . Been on fire this week theyre also all down over the past year with a loss on average of 25 in other words, the worst of the 12 month stocks, the worst of the worst, has been the best of the best this week why . And do you think this can continue okay, well good question. And i would say it feels to us like a quant driven trade so the market hit up 20 . The s p for the year last week and it felt as if someone hit a button and all of the Top Performing names began to come down growth names like paypal these some of facebook, stocks that are up 40 to 70, 80 . Starting to come down and the worst perform, energy, the big banks, retailers, started to come, it felt like bottom fishing to us. I know people will feel otherwise. But i think this sort of trade can work for a while its hard to see it lasting for long unless those groups really perform fundamentally. Joe, ill give you a couple of examples. Macys, down ta 35i , its up this week. The gap, down 33 in a year. Up 13 this week an oil related company, slummer jay, theyre up double digits this week. Okay, so if youre a trader, you get excited about Something Like that. On monday, i thought that the despairty between leaders and laggards gave great opportunity. Leaders that are up 3 a day an on the other side, you have the Software Technology names that are down 5 . As a trader, thats great. As ay dynamic. Exactly what you want to see its indicative. It is its an indicative of a market thats going to move higher the advance decline line for the New York Stock Exchange reached a high today so finally, you have financials. You have energy. You have small caps participating once again thats a very Good Environment the other thing ill take exception to is momentum is out. No momentum is not out. Youve had a strong move for the tenyear yield up about 30 base i point frs that 144 low okay we dont want the to walk too far wii way from thiyield rs gog to get out of control. You still want those technology napes that hanames that have th organic growth ill push back a little bit, joe, politely of course. Which is this. Unless you have new money coming into the market, you have to sell something to raise the money to buy something else. It appears from just the numbers that people are selling some of the momentum stocks to buy the other stuff. So how do you say momentum is not out . To carries point, momentum will come back once again. Listen, momentums tart iing starting to come back again as were speaking to carries point, i dont know that its people making this dra mountainic shift shes right. Its the quants recognizing near term momentum in financials, in energy, in small caps. Look at the move in the iwm. I shared with you materials. Etfs look at the move in the iwn i shared with you. Grasso i cant, im knnot jim cramer give me a break. My job is to make you look smart, not make me look smart. Work with me here. Well try harder its an hour show i shared with you last week i had bought some calls in iwm look at the dramatic move in that thats quant driven. I think its about the speed of these rotations. Today, to joes point, look at today. Going into today, just an hour ago, were look iing at a flat market now its up 100 points. Why . Wow, all the momentum names are back take a look at lululemon b where is that stock trading . Under 200 a share apple, that was the one that was holing everybody then look at technology itself all of those names are suddenly stating to pick up again today so yes, these things happen, brian, and theres always rotation in the market, but the speed and velocity is extraordinary sometimes. And look at the vix itself which was 21 about eight or ten days ago and now its trading 15 it gives you a little bit of a sense of people are getting more comfortable. They understand the time frames and Everything Else. So theyre look iing to october osks but in between, now and when we get towards october, people are looking at different names saying yosay ing you know what, i still believe in system of these momentum names because they have value and during earnings season, they crushed it. Theres been a slight back up in race. People are reading to say maybe the economys better youre going to some of the more industrial names i see some of the laggards moving higher. Banks moved higher because of rates. Oil. That was moving higher because same thing but also there are some value buyers that i would say are not liqu liquidating growth names but adding to the market as well as new money coming in. Healthy. Broadens out the base for the move higher. Today x we have positive news out of china in terms of moving tariffs from some goods. Not critical good. Positi positive so i continue to see a market trending higher until we get to the talks with china then it can go higher from there in terms of the fed though, i still see no reason for the fed to ease next week. I think its 64 the if they do if they dont, its a knee jerk reaction in the market and does nothing for the longer term outlook. So what do we do, jon how do we make money where it seems like everything is up, even the tlt even the bond etf is hire. Lots of money coming into the market from pretty much everywhere well, just a couple of, well, ten days ago, brian, we saw a lot of the Industrial Metals starting to move up again. We saw services and number of these sectors that have been moving up over the past week one name, freeport, i put that one up on the show for unusual activity i was mocked went for that particular call, but its been dead on. Its up 12 in a week. And industrial met daals are bak many of the industrial Goods Companies were back. Were they thrown out babies with the bath water yes, they were along the energy banks have suffered an we know why because Interest Rates were down there and jamie dimon was saying can weven ma even make h as the low end of our range if we push these rates towards zero he says they still can i believe they still can but i think that Industrial Metals services, those goods are really where you want to be. Shaking their head. Some of the cheap ones. Shaking her head at you is she going to mock me, too . I wouldnt dare but we know that Interest Rates were there going lower makes it harder r for banks. Doesnt make it easier Energy Prices where they are were going lower unless somebody cuts supply or theres more demand hard to make more money. Its really hard if youre in the traditional Retail Business to do better unless you have a heart transplant or something tra plantransplant the its fine if these stocks move because they were so cheap because people have been selling them all year. You buy something that looks to you as if its you know, ten times earnings, nine time, even if its really only 14 like macys the valuation is below the real estate but heres whats weird. This is a weird market today because utilities, which have been on fire any way, are a best performing sector today. Thats a fear trade. Nervous, safe haven. But not the share. Utilities and real estate were among the highest performing groups of the year with technology so this is a return right now like right as we speak and i think theres a danger into reading specific sectors. I add to cloud again, your favorite stock i bought a company cyou, similar to the Taylor Family ha ripped off shareholders where conjunction with sea trip. Whats happening 10 bid on the table from so h hu which owns basically all the voting stock and mostly und underlying stocks. Trading at nine. Thats what its worth based on the battle sheet alone either they raise the bid or you make the r 10 plus i added to well i bought global blood. Gbt. Had approval from the fed. The fda. It didnt reflect fully in the stock trade. Semis were first kind of leading the market higher a couple of weeks ago. You have to watch the semis. Last 48 hours, theyve been very stable in an environment where to your point, momentum is being sold lamb verresearch, high today, 2. Sky work is back. I think the semis very important in that. Were going to continue this discussion because whats happen ng the last couple of hours today, momentum is starting to come back just in the last hour or so. Well see if that can continue right now though, lets get a market flash with dominic chu whos talking about oil. Thats right because oil prices were decent lly higher today then took massive leg lower now down by 2 it was a precipitous drop and the reason why was because of bloomberg headlines coming out on a story they were say iing according to sources familiar that President Trump had discussed a possible easing of iran sanctions to help secure a meeting between the u. S. Delegation and iranian president rouhani for later this month now to connect the dots over the past couple of days, the reason why ambassador john bolton was fired resigned, however you want to view it, is possibly because accord iing to the story, that there was an Oval Office Meeting where this was discussed and bolton pushed back against the idea in a very strong fashion. So some of headlines from yesterday melding into some of the headlines from today i will also point out Energy Stocks were the best performing sector today on a daily bases on some of that that rotation into some value sectors, but now e youre seeing stocks like apache, marathon oil, halliburton, devin all go from solid gains to losses at one point intraday so some market moving headlines coming out oil, the very, very center of it back to you. An interesting headline there. Oil moving a little bit, which i find a little odd only because iran has been selling oil around the world. We know that from guys doing great work like tanker trackers and some of the other ones marinetraffic to t marinetraffic. Com. I dont know how much more oil is going to come on. Oils biggest problem b has been two countries. Three. Russia, iraq, probably near five Million Barrels a day and right here in the good old us of a. Theres been so many fits and starts pete and jon have had unusual options activity, but theres been fits and starts in where you get your starts in equities. The name i would suggest is one oak. Find me an Energy Equity name at an all time high, thats where oke was yesterday. About 74. Im long it. Staying with it. I believe that it is completelyy in the fundamental sweet spot of this confusing oil story ive not had energy expo hur for a while. I dont think you necessarily need it. Youre historically an Energy Investor i have in the past, but i think i can make, do well enough in the mark without owning Energy Stocks when energy is only analyzable because so many geo political factors as well as also supply demand fakctors that you cant add on you got to, we got to separate the stocks from oil okay because stocks and we look at the xop an etf weve talked a about a lot. Its valuation on some levs, guys, is trading at the same level as when oil was at 15 and 20 a barrel because the stocks have been left for dead and one reason i dont think weve talked about, a lot of these esg movementings among Institutional Investors, environmental social responsibility and government, theyre not buying fossil fuel companies and i wonder in fact actively selling them i wonder if thats an opportunity for our audience if they want to do it because the big boys are selling because theyre now not allowed to own them right i mean there might be opportunities out there, but waiting for that flush to happen you need the flush to happen. Everybodys selling out billions of trillioning of dolla dollars. Absolutely. I think to steves point, we have to see a little bit of that start of that turn we really havent seen that for the most part. Joe brings up a really interest ing name, but he brought up one name and hes our energy guy he had one name. So it just gives you a little idea for a guy who spent his life in the energy space that he can obl only come up with one name there will be a time, brian, just probably isnt right now and i dont think the flush has completely happen. The average return of the seven Companies Operating the heaviest of the back et in north dakota over 12 months is down 61 . Thats the average the Institutional Investor in energy is not making money in the equity names theyre making anytime the debt market they made a ton of money coming off 2016 and they continue to do so and if you talk to a lot of hedge funds, thats where the opportunitys been im working on a big, i dont want to give too much away a big oil debt piece little tease the maturity wall is coming. Lets move on, shall we . I just want to mention that if were talking about the market as a whole, one thing we havent yet mentioned is the china trade dispute. I mentioned it. Oh, sorry ill go slower next time. I heard you thank you. The market isnt isnt moving anywhere in a strong direction higher for sure unless we resolve that to some extent. Weve gone back and forth across 20ten, 12 times and to get above 3,000, we need to have a deal. I know that but energy was 20 or whatever percent of the market then ten now four and a half. By the way wharks we havent mentioned was the fact there are some politicians, its not a political show by the way, today should be a politics free holiday nationally because its 9 11, but there are some politicians who have mentioned either banning oil and gas fracking or banning oil and gas all together and yet oil still hasnt caught a bid, but thats for a different show. Maybe on a Different NetworkPresident Trump also firing off on the fed again saying policymakers should cut Interest Rates down to zero or less he also said quote the u. S. Should always be play paying the lowest rate. No inflation only jay powell and the Federal Reserve that do not allows to do what other countries are already doing. Once in a lifetime opportunity that we are missing because of joe, bone heads. And also have Jpmorgan Chase here jamie dimon says he does not think well see zero rates in america, but the bank is prepared if they happen. Are we getting zero rates . Zwl im going to go to a lot of different places on this i had a conversation with a three billion plus team of advisers on the west coast about a month ago and they said to me, hey, were in trouble right here, we gave up our taxable fixed income exposure. Listen, jamie dimon, one of the smartest guys out there, was talking about a 4 tenyear, potentially higher okay, now were going to other way. So i think unfortunately, predicting where yields are going to go is a losing proposition. I, i dont think you give up that ball last of your portfolio. As it relate to the president s tweet today, bottom line on zero rates in the president s tweet, first of all, i agree with you today should not be business as usual. But more importantly, when youre looking at the composition of this economy and gdp, its all about con sunlgs not government spebd spending. And in the u. S. Is as strong as its been in many years and it stands out above the rest of the world. So no. I want to be, i love that youre out of the west coast though and no throwing shade at jamie dimon. The guys great. However, the west coast guys, the three smartest names probably in fixed income who have been right are all on the west coast the west coast, not new york controls the bond market okay whoa, whoa. Rick reeder hes a mart guy, too. Substantially more fixed income asset than gun lock theres gugen heim and it would argue. Still, put them together. Pimco. Okay. So by the way, doesnt actively manage money, but did at tcw he called this just saying p you want to know the bond market is going, go west, young weiss. Lets take a, back to trump. I like that conversation better. No offense worked up when i slammed the west coast no, my daughters on the west coast. I go out there quite a bit its fine. If you take a look at trumps business, who stands to benefit the most from negative rates his real estate. Right . Thats what it is. No surprise there its a conflict and by the way, look what negative rates have done for all the countries that have it look at where they are which economy do you want to be in ours or that what do you want to do with the retirees that have seen their incomes go down every single year with rates going down so id say theres only one bonehead in that conversation and its not powell. Who is is it . Leave it to lets move on. Got a lot more to do. Good discussion to far, guys heres whats coming up on the rest of the Halftime Report. Costco shares rallying more than 40 this year but is most of the upside already done the desk debates it in our call of the day plus, we want to hear from you the Investment Committee will be answering a few of your e lfmeons ahead. Thhati report is back in two minutes. Welcome back costco shares are rallying more than 40 this year theyve done great outperforming the xrt as well as the Broader Market in general, but that could be coming to an end. Oppenheimer says the upside ahead in costco may be limited so they cut the stock to a market perform rating today b e basically a neutral. It is our call of the day and carrie, once again, you are shaking your head. Youre not having it we like costco. Still, now the stock is up 50 in fact, not 40 and its been one of the best performers, one of the only in retail as target is, too, but theyve got all the momentum behind them because they keep their cost down. Their employees are are happy. Theyre at the highend of what they pay theyve got growth that will exceed that of the Retail Sector generally, but of course the stocks been strong. It sells for plus 30 multiple. I once why you might want to make that call their argument. Valuation. Oppenheimer isnt saying dump costco they still view it as a core i read the report very positive except for the top line maybe the house is looking to target and seeing it sell at a 50 discount to its costco yet it has tremendous momentum and you know, as weve seen the last quarters with the ceo, petes friend, whos done unbelievably well. In changing that company around. I think anytime an analyst has a bio on it, theres nothing wrong with that. Its a great call because when you look at costco, the fact it trades 35 times, at some point, isnt there room, any hiccup will cause this stock to pull back significantly. Sxwl i think theres a view on costco maybe a few. Theres like a walmart that this is a recession Proof Company in a sense because if things turn down, you try to save money. Buy in bulk. Buy the necessities we hope. Thats i think part of the theme. That is part of the thesis, but i think tha wrong because when it comes down to it, under circumstances where we would be under pressure, would you rather own a company that has 18times with better growth or be at 35 times with very good growth and they have a subscription model and Everything Else which is great, but which would you ber in in. I think the product acquisition cost is the key. Thats why its recessionary its about the consumer, but also about the business model. Goldman sachs, jpmorgan and ubs. Each one of them in the last week has raised their price target 320, 330. So this oppenheimer note stands distipgt to what were seeing from the other wire houses if theres a pullback, im sure saying time to buy. Ringing the to your point, it was a positive note. They were just saying dont be aggressively buy iing the stock. Really limited price target of 300 by the way, the target and costco consumer are the same person Different Companies entirely but two ways to target. We got to go. Okay. You go ahead save that ill be back tomorrow. Apple shares higher after their big event yesterday. Were going to trade that and other stocks and that sort of apple halo coming up, but first, your s p sector check, energy and real estate, the only sectors down the other nine, theyre higher utilities, communication, health care, they are leading it. The dow is up 81 pntois. Trying to make it six in a row we are back after this it was sophies big day. By the way, shes the next mozart. As usual we were behind schedule. But sophies enthusiasm cannot be dampened. Not even by a runaway donut. We powered through it in our toyota prius. Because a stars got to shine, no matter what. Its unbelievable what you can do in the prius. Toyota lets go places. Have you lost weight . Of course i have ever since i started renting from national. Because national lets me lose the wait at the counter. And choose any car in the aisle. And i dont wait when i return, thanks to drop go. At national, i can lose the wait. And keep it off. Looking good, patrick. I know. vo go national. Go like a pro. For farmers here, this is our lifes work. But when a recall happens, perfectly good food goes to waste. Now, weve got away around that. Looks good. Were on target. Blockchain on the ibm cloud helps pinpoint a problem anywhere from farm to shelf. Its used by some of the biggest retailers everywhere. A nice wedge. So more food ends up on your table, is that daddys lettuce . Yeah. And less food goes to waste. Welcome back heres your cnbc news update members of congress gathered on the u. S. Capitol hill steps this morning to observe a moment of silence marking the 18th anniversary of the september 11th attacks and right afterwards, the lawmakers began singing god blez america. General motoers announce in its recalling pick up trucks and suvs to fix a brake problem that involves a vacuum pump issue. It comes after federal safety regulators began an investigation november vehicles covered include silverados, sierra from 2014 through 2018 Justin Trudeau has officially launched his campaign for reelection, but the vote on october 21st is expected to be a nail biter polls indicate the Opposition Conservative Party is run ining close to trudeaus liberals and we finish with some play time lends. The toy hall of fame in new york announcing this years finalists. Among them, care bears, jenga, matcich is still a favorite. Thats the news update this hour, brian. Back to you. Those are all four good toy but youve got young kids. Which is the most painful to step on in the middle of the night with bare feet jenga match boxcar. A close second. Like an Indiana Jones track the only thing thats worse is legos what if my little pony is laying on its back. You dont want to step in there either its rubber just kind of collapses jenga, legos, match box. There you go. Legos though yeah trap for dads in the middle of the night. Thank you very much. Apple is one of the leading stocks on the dow today following the companys big event where it announced new products and pricing for its streaming service. A lot lower than many thought. 4. 99 a month back above the 1 trillion mark. Steve, you own apple, but youre concerned. Not concerned if i were, id sell nothing great there. The observation is that theyre cutting price. So what theyre saying is theyre premium price, they cant do it on brand alone so they have to lower the price the make more attractive it was typical not a lot of innovation. I own the stock because i like the market if the market moves, thats going to move and number two, i think the free pass until the major upgrade cycle, 5g, next year what do you mean, a free pass i dont think iphone sales. So its not going to hurt the stock because were waiting for the 5g expectation is it wont come in good. Not enough there whos going to upgrade 11 from the 10 anybody . I dont know. On monday, scott had a you know listen in San Francisco with jason. Now jason is an investor, pundit, maybe hes got the hot take, but he suggested tim cook need to step aside or quit or r be fired disagree. That made some headlines with scotts great interview. What do you think . Hold on travel 3,000 miles to go there because ive been saying that for a year after. But go ahead look at the performance stocks up 150 under this i think the idea was theyre looking for growth Going Forward and jason theyre going to get i. Jason told scott he wanted apple to make a deal your growth is going to slow unless you make a big, bold acquisition. Disagree. At these prices listen. Lets play a game. Heres how i look at it great company. Its up. I look at t like the patriots. Doing great. But what do they do . They enhance their leading position by bringing in a receiver forget about his personal issues, but clearly, the guy is still a trophy receiver. Thats what i think apple should do bring in somebody who can innovate extend that to a degree. Im going to call an audible. Aaron rodgers style. Joe, if apple was going to buy anybody, who would you like to see them buy weve played that game so many times in the past i dont watch this show every day. I get up at 2 45. Nap time 4. 99 for the streaming service. I think that took everyone by surprise i think its only nine shows right now, but and free if you buy apple tv. The development of content, i think thats fascinating to see apple there. Roku is obviously a clear beneficiary of the streaming competition were seeing whether its disney, netflix or now apple. Im wondering if it would be somewhere in the streaming theyve got their video Game Subscription Service i will play crossy road through apple tv with my daughter, using the apple tv remote or my phone. I wonder if theres a massive video game opportunity people are overlooking . Sure, there would be zblsh ea or take two. I like that much better quite frankly. And i thought that the presentation yesterday was just exactly what we thought it would be and should be and i thought that the multiple cameras and the new versions of video that theyll be able to off with that, that all puts more storage on that device that means youve got to have cloud. That goes up to 9 and past that depending how much storage you need thats genius. These guys are going to be killing it with services brian, i got to jump in real quick. Innovation their watch, what theyre doing with the watch is extraordinary. For 499 and what it brings them into the health world. People didnt really understand it, but as they start to understand it, i think thats whats push thg hire and where do their profits come from not just the fs services, but wearables. Youre a he wialthy guy. Always posting pictures of yourself why dont you own the apple watch . Id rather when you talk, how many people over 60 now have the apple watch . That number continues to go up its a new buyer people want to charge something every day. Except for the fact the battery life is much better than it was in the past he uses a mirror. Thats good enough more now on the tug of war between dwrout and value theres a lot going on bob pisani is at the New York Stock Exchange with more on this shift. What are they saying downtown, bob . Great to see you. Its time for etf edge you were talking about this at the top with all the guys rotation the story etfs are benefitting from that a lot of volume down here. Take a look at value outperforming growth the largest value etf. Ive is the symbol. In the last week, growth, you see it doing nothing its flat. Value sectors are right now, retail, banks, energy and industrials, theyre also outperform ng the last week. No surprise there, so whats going on here . Nick, chris, now an etf consultant joins me now to discuss. This corresponded with the bottom in yields wednesday or thursday last week weve turned around. Whats the story is it because of optimism on trade talks . Because we dont believe theres a recession in 2020 . Why the bottom of the yields if you even draw a line between that 90 chance everybody thought we were going to have a recession with the end of august to now maybe a 65 chance of a recession, thats really helped. First european financials. Theyve rallied over 8 in the last week. Thats helped u. S. Financials and that helps value because that ive is 22 financials. So the rally in financials has driven the rally in value. Yeah and that kbe, that bank etf has been doing really in the last week. I guess the problem is do we want to own banks here still in a low rate environment and even if no recession, slow growth economy are we supposed to buy bank stocks . I dont get that you need to take a step back for a second this deviation from what the norm has been of growth over value is still very new. We used to say on wall street we still continue to say is the trend is is your flend im not sure two or threeday gap of value over growth is necessarily going to be something you want to necessarily bet on just yet. I expect growth to continue to be you know, a safe place to put your money and you know, well see from there when you want to play the value growth differential, you have i shares, russell value growth and really dimpblt issuers that offer different ways to gear it. I get the fact that retail, another valg sector has been beaten up badly, but does that meano buy it gap is a value stock these days. So xrt has been rallying as well same story with the banks just like that. That doesnt mean theyre necessarily going to be great buys just because theyve been overbought and heavily shorted weve had Short Covering isnt it it is youve seen a pendulum swing back from the excessive. Peter michigpessimism from d of august. You buy value when things are b horrible financials, Auto Companies rails. All those things at the bottom and wait for a rally chris and nick. Thanks much for joining me today, for more on etfs, our live online show starts at 1 00 p. M. Eastern time. Well talk to the man behind the bitcoin etf making its way up the ladder at the sec. Thats jan van eck thank you very much good to see you as well. Jon and pete seeing some unusual activity in the Options Market its what they do best the bullish trades on retail and transports straight ahead. Plus, the Investment Committee is ready to answer your question you can reach us cnbc. Com halftime. Halftime is back in 30 seconds some comments are from President Trump concerning e cigarettes and vaping. The president is in an Office Meeting right now with health and Human Services alex azar and he says basically there has to be something done on vaping. He says that the administration is study iing the issue of e cigarettes very closely. Health and Human Services secretary says that the u. S. Will start enforcing the fda action on vaping products once it is finalized and he also says that he will take action if companies are marketing flavored e cigarettes to children the president making some strong comments in the oval office and we are seeing stock reaction to that altria a sharp drop there earlier on it has a better than 30 stake in juul. The stock has since recovered. Phillip mor ris took a kooif to the downside then came back. This is in the Oval Office Call ed a spray and when the tae comes in, well replay those headlines for you, but obviously the president saying that hes taking this very seriously hes going to be looking at the issue of e cigarettes. Brian, back to you all right, sue, thank you very much. Market moving news there for a minute or so steven weiss, to sues point, altria fell, cape right back thats what or theyre working on a deal, but thats got people excited because look, growth has been slowing for a long, long time. Talk b about esg, environmental, sustainability and governance. This is on the do not buy, do not hold list. So look, im not a fan swrus because of how they make their money and im not a fan of the vaping stocks either i think to avoid it, theres other stuff to buy here. Vaping should be highly regulated. All right shares o traders are betting on more ahead. Pete, what are you seeing . Its interesting because this stock has had liklike you said,g move to the upside somebody who bought the september 82 calls is rolling that into the october. When this originally stock was trading about a dollar lower stock was trading about 89. 20 at the time, but look at this for 275, they were paying for these calls. These october 90 calls theyre in the money stock sarting to move to the upside i love what were seeing here. Probably be in this for about a month, but a nice move already in the stock really rapid it looks like it wants to break out to the upside. I got a quick update fedex. This was trading about 150 the day we talked about it right dang near right there and literally, it shot up. The september 162 calls, they were 1. 50. Took them off yesterday for a little over 10. Out of that trade now, but want to keep people updated 150 to 172, that happened almost overnight. Nice big move to the upside. Jon, what about you take a look at this one coming up right here, weve got Vistra Energy corp just shy of 26 up about 32 cents. What did they step in and buy . Upside calls not puts here. Theyre buying calls out in january. So take a look at this january 27s with a stock just below 26 love that. You get a lot of time to be right in this one. And they werent trading for a lot of money ill be this these probably for three to four months second one real quick. Take a look at this one. Weve got a tech stock this one, viav this one has been moving to the upside nicely from this level where it was ten beginning of the year to now october 15s. I love that. Ill be in these about a month and thats a lot of volume when you look ate it and it was a cheap shot they put a little money on the table. You can turn this into a lot pretty quick quick update take a look at what was going on when we talk ed about this one. For instance the update gosh was the tapestry tpr. This one we talk ed about it whn it was 20. 88. Today, almost 26. Thats a nice move out of the stock. But take a look at the options we were talk iing about. The october 25s. Were up 300 in other words, tripled your money on that play wow not a bad thing thanks very much all right, more serious note, hard to believe that its been 18 years since tragedy struck on this very day. Many people gather ng new york to remember all those who lost their lives. Nearly 3,000 canter fitzgerald and affiliates have been raising money every year since 2002 for its relief fund in 150 different charities. One of the firms hit hardest kate is on site at cantor with what is always a sad day, but a good day because theyre doing good work. Hi, brian right, they lost so many of its own on that day so it uses september 11th as day to remember those lost but also to do good by raising money for its own relief fund. 150 other charities. They do that by enlisting some help from ambassadors who have been on the floor today. We saw supermodel, Cindy Crawford and nick switsher of yankees. 159 million has raise d, 12 million last year alone. In your own private way, you might honor this day where ever you are, but to be able to be here at Cantor Fitzgerald, who had such an incredible loss 18 years ago but then to be giving back in such a great way, it makes it i dont know, just feels like a positive way to mark this day. Im here for Cantor Fitzgerald on behalf of my foundation and also remembering september 11th and being here remembering all those even though people that we lost on this day and doing things back for a good cause i always try and sign up for this early slot so i can pump this place up. You have great energy i got my trading jacket so brian, you saw it. Theres been great energy here all day today and once again, the whole idea is turning that tragic day into something positive and raising a lot of money. Back to you. Which they have done for years now going on almost two decades. Hard b to believe. Thanks for being there today see you soon well, dollar near its highs of f the year. Your trade rs straight ahead first, but kelly evans, what is coming up on the exchange . Hi, first of all, going to follow this story on this vaping meeting happening in the oval office ill have the latest on that and what it means for the stocks and everything affected. Also well taub about global hot spots from pakistan to uk and hong kong. Neil ferguson will join us and talk about how to navigate the uncertainty and the ipos bikes, brace, buildings, well look at everything coming down the pike and whether the value shifts in markets this week could be a head wind for that and a a pea allergy fix. A red hot retailer and what romney said may have prompted these moves today. Well see you for that the Halftime Report is back after this money should always be working harder. Thats why, your cash automatically goes into a Money Market Fund when you open a new account. And fidelitys rate is higher than etrades, td ameritrades, even 10 times more than schwabs. Plus only fidelity has zero account fees and zero minimums for retail brokerage and retirement accounts. Just another reminder of the value youll only find at fidelity. Open an account today. Youll only find at fidelity. Thats what happens in golf nothiand in life. Ily. Im very fortunate i can lean on people, and that for me is what teamwork is all about. You cant do everything yourself. You need someone to guide you and help you make those tough decisions, thats Morgan Stanley. Theyre industry leaders, but the most important thing is they want to do it the right way. Im really excited to be part of the Morgan Stanley team. Im justin rose. We are Morgan Stanley. In the human brain, billions of nefor people with parkinsons, some neurons change their tune, causing uncontrollable tremors. Now, abbott technology can target those exact neurons. Restoring control and harmony, once thought to belost forever. The most personal technology is technology with the power to change your life. Welcome back to the Halftime Report. Check out the u. S. Dollar climbing right back up to twoyear highs ahead of tomorrows big European Central bank policy meeting. Lets bring in our traders, scott nations and Anthony Grisanti scott, if mario draghi cuts rates deeper into negative territory, whats that mean for the dollar its going to be great for the dollar just in the past ten days, weve seen the tenyear yield here increase by 30 basis points, 1. 73 . Thats not a whole lot, but its a whole lot better than investing or putting your money into europe and paying them for the privilege of doing so, and the ecb looks like its ready to unleash another smorgasbord of easing tomorrow. Its a good point and anthony, the euro has fallen about 1 since the last ecb meeting in july. How much lower can it go well, seema, below 1. 10 to me is very bearish for the year so im looking for 1. 05 to push the dow up higher. 9860 is the moving day average in the dollar. Theres your support right there. 99. 340 is a recent high. I think it gets through that. Thanks for breaking down the trade. The ecb policy meeting is out tomorrow at 7 45 a. M. Eastern. Head to futures. Cnbc. Com for my full preview this is my headquarters. This is where i trade and manage my portfolio. Since i added futures, i have access to the oil markets and gold markets. Okay. Im plugged into equities trade confirmed and i have Global Access 24 7. Meaning i can do what i need to do, then i can focus on what i want to do. Visit learnfuturestoday. Com to see what adding futures can do for you. All right, dont miss that lets hit our trader blitz. First up, zscaler plunging after a sizable earnings miss. The outlook was not favorable here for the cybersecurity listen, whats going on in the smallcap space is software and cybersecurity are being sold off. So zscaler, outlook not good, valuation manners, clamoring negatively toward this name. Wouldnt step in with this, nor crowdstrike, which is falling with it. Micron hitting a new 52week high today looking good as Longbow Research upgraded them to a buy, steven. Yeah, so this is the point of the year, what analysts were talking about earlier in the year, when memory prices would firm up. Thats responding to, look, stock always looks cheap so its part of a momentum story. Its still going i own skyworks. Amazon reportedly being probed by antitrust officials. Is it scaring you off . Its not scaring us off this is something we talked about and we expect it amazon is a stock thats been flat for the last six months weve seen other retailers pick up the pace. If the consumer remains strong through the rest of the year, she tha should be good for amazon and a trade deal would be great. Ge is selling about 3 billion of baker hughes stock. Pete, you own ge puts. Yes, exactly right. And as a matter of fact, this thing has been nothing but a gift the whole way down, and we have this big move to the up side they have to sell assets we knew theyd move assets, giving the stock a little bit of a lift today this is a stock i have in january. I think by january, i think the puts come back into play. Okay. So, we have asked, as always, good listener, for your questions, and now we are answering them joe, are you ready i am. Okay. Paul in upper saddle river, new jersey, far better than just saddle river, asks whats happening with mastercard . Down 7 this week. Is this rotation we talked about . Yes, staying within its Global Payments leader growth story, great Capital Allocation story im long stay with it. Okay. Next up, cedric in washington asks, if theres a green light on caterpillar ahead of that planned october meeting between the United States and china on trade. I guess planned is the key word, steven. Right it is the key word so, what youre talking about primarily is a trade, because the fundamentals of caterpillar still are not good in my opinion and i think there are other stocks to play weve already seen a move up in this, not a bad move, about 10 . But keep in mind, youre playing for a trade. To f it goes against you, the stock goes down, but after the meeting, what are you left with . Youre left with still slowing global economy, and i would not own the stock. All right so, ahmad in new york asks if he should hold or sell crowdstrike . It is one of the bestperforming ipos this year notice he didnt say buy ahmads wondering if he holds it or dumps it . Id hold it zscalers probab putting the pressure on these guys, too, joe, in themu better. I like this one versus zscaler and i would hold it for that reason i think somewhere between 64, brian, and where it is now, 70, is a great area. So, i would be a buyer or a holder. All right so, here you go, pete. Gdx, goldminer etf, is that still a buy or is the run over that question from dan in florida. You own gdx. Ive sold 70 of most of these positions slb, gdx, those. I still want to hold onto it because that hedge has worked fantastic when the moves have been to the down side. Most of the moves have been to up side. Sal writes, whats the outlook for sales force, crm i think the stocks at a critical point its really flat for the last year theyve had integration, problems, that the market perceived with tebb loe. I think that, in fact, is going well theyre still the leader theyre taking market share from oracle and i think that its a good one here. So, why dont you launch us off on final trades . Okay. So, final trade is sibb, Silicon Valley bank. Sells for ten times earnings stock was cut in half. I think its a great one right here. Joe when we think of streaming, we think of roku dont forget akamai. Love that name. I bought mastercard. Jd john. Pete . Ready to break out. Going after the jci ill be back with you tomorrow and friday as well that does it for us. The exchange with kelly evans begins right now thank you, brian hi, everybody. Heres whats ahead. The rush to market peloton, smile direct club and cloudfair all on deck ipo even as investors have been rotating out of growth and into value names this week. Will that hurt demand for the next crop of offerings well ask. Plus, what lies beneath . Walmart is on the surface lately there are major shifts under way. Well talk about what they are and what they mean for your money. And falling Interest Rates are now costing people their jobs another beat and raise by one surprisingly strong retailer, and the major name in washington calling for a recall of ecigarettes thats all ahead in rapid fire. We begin with todays markets an