Also at all time levels. Nasdaq composite at 13year high, at 3,578. Dow saving fire works for july. Bob pisani, which led to todays record . A lot of people said, gee, mr. Bernanke didnt say anything different after the close. Maria, a lot of people think he must have said something different. I will try to give you the simple version. The highly accommodated comment that bernanke made essentially took the edge off of the tapered talk and fear off of the taper talk. Tapering can still occur. Everybody realizes that fed remains highly accommodative near a 0 Interest Rate policy. And i think thats the way it understand it. Look at companies and sectors that have had the stuffing knocked out of them recently, all rallying today. Interest rates sense tifs, these are a mess for the whole month there with big movers. Take a look at dow intraday. This is a Straight Line and move again. Highs of the day just prior to 3 00 eastern time. A lot of that is because tech stocks have been up all day. Microsoft reorganization. Helping microsoft but all stocks up in the 3 00 hour close near the highs for the day. Commodity stocks led. U. S. Dollar retreated. Gold, copper, silver, great day. Here are commodity days. They will not record great earnings numbers but were big stars today. Best day for some of the Home Builders since good heavens, you have to go back to october 2012. Bernanke calming fears of rising Interest Rates. And emerging markets, we have talked about how thailand, philippines, turkey, down 20 in the second quarter. This is the best day theyve had in many, many months. Finally, the banks earnings tomorrow. Wells fargo and jpmorgan down today. Yields curve flattening. And sell into Bank Earnings is one of the old traits and old play books. It works, happens virtually every quarter. I wasnt surprised to see the modest declines today. Guys, record highs. Back to you. All right, bob. Thank you so much. Good to see everybody, ben pace, let me kick this off with you. Would you put money to work on this record day . I think you might want to be cautious here at higher levels, maria, but we are thinking, if this is a price earnings expansion, only matter if they are positive and we have a 12month target of 1750. Not as great of a return when markets were lower. Maybe caution now but definitely put money to work in equities. We are seeing a rotation out of bond market now. Maybe it was pretty broadbased pod. What struck you about this market . Yeah, no, i think youre right. It was broadbased today. I think what is very interesting is we have seen this before, right . We have seen these record runs. Hit the record highs. Done the specials on cnbc time after time. I know you were hoping but what would push us through records sustainably and convincingly. I think thats what people are concerned about. To what got us here, you could argue all day. Is it 40 fundamentals. Is it 80 fed . From now on it needs to be way more on the fundamentals. It looks like the fundamentals are stepping up to the plate. Economy does seem to get better. Lets hope that continues. But if the fed pulls back, eventually, then we need fundamentales it keep things stronger. Thats what im focussing on at the momt. Maria . Thats the question. Will the economy be strong enough. When the economy is upset, nervous and volatile over the last couple of weeks, i questioned whether or not september was the month. It just seems the economy growing is still at an anemic pace. I think the fact of the matter is, maria, that they didnt taper yesterday. They are not tapering tomorrow. That money still has to go somewhere. The bank of japan is still very easy. Ecb came out with very positive statements. China might reserve the ratio requirements. I think they are going forward. Bernanke basically said he would be there until we see it in data. Initial claims going up to 360,000 does not help, right . So thats another thing. The fact of the matter is, he said that employment might have been overstated 7. 6 . So the situation that theyre missing on both sides of the mandate means for a while, 2015, 2016, when he made his comments i think the market did misunderstand him. The financial conditions tightened up a lot. Emerging market liquidity dried up very quickly. Bond spreads blew out. We did see if you are holding bonds, you have a problem. We did see 75 basis points that we talked about earlier. The fact that that was the decline in yield due to fed buying of bonds, that is now out of the market. We i think the bond market will calm down. Imf just reduced growth forecast. So we need to see better growth before the fed does anything. Yeah. Well, let me ask you about earnings, john. How do you want to reposition going to the jpmorgan and wells numbers tomorrow . Just as yesterday, 8 out of 10 people wanting to go home short because during the fed minutes, the marketed declined that much. We said take me over. I think the same thing here. Everybody tries to put jpmorgan into the red today due to the fact they are announcing tomorrow. We think the financials and Home Builders and lumber was up two days in a row. Things fundamentally are changing. And forecasters at a new low, we have formations picking up again. Things are positive for the banks. Longer term. Only thing banks have to worry about is how restrictive the covenants are on their capital. Thats probably one thing jamie dimon will address tomorrow on your show. He will be on squawk on the street tomorrow. But is that an esh issue regulation for the Banking Sector . Where are the groups that you think will lead the market higher an what are the groups you want to avoid . I think in this environment you want to be in the more growth oriented areas. I think we got a cheap lesson as to what sectors were so reliant on fed ease even we got a whiff of fed tapering. They really collapse so with equity Asset Classes like electric u utilities. So i think you move back home to the u. S. It looks like better fundamentals there. U. S. Large. U. S. Small. I think Japanese Equities with qe on steroids type of approach that they are taking now makes sense. Particularly if the yen weakens from here. Those are areas we are cons tra tra concentrating to moving capitol to here. Obviously japan is on fire because it has its own Printing Presses moving full bore. The economy there is in trouble. I dont want to say it is coming apart at the seams but fraying at seams. That might benefit the u. S. Market. Because all of the Chinese People that want to take their money out and put it some place safe, where will they go . They will come here and put it into housing. I think the market closing at a high here. And john, what would this tell you about how we open tomorrow morning . Is it all about the earnings in the morning . I think you know, again everybody is saying we are at this great big high. We are flat for 13 years. We are not up that much over where weve been the last 13 years. Here is about 15 merging markets about 12 and if you look in europe there are about 9. So the markets, equity in the markets are not in a bubble. Were just coming out of a 13year base if you want to call it that. So basically, you know, as long as the fed is behind our back and the numbers continually print goldilocks where there is low inflation and descent growth, i think were okay. So ben face, in that scenario, what do you need to see in order to feel this market can go higher . Sounds like you have some concerns over evaluation . Valuation it a certain extent just near term. But i agree with john in we think we will get multiple expansion here equity markets relatively cheap especially relative to Interest Rates now. So we are comfortable with our current positioning. Again, i still think it is a matter of moving back into the strongest economy. Thats the United States. And also talking about some of the sectors within the u. S. Equity markets that have trailed like technology. Like industrials. I would like to see Capital Spending pick up as we rush through the year. But i think those are probably cheapest sectors right now. What about emerging markets. We are seeing stabilization there. Emerging markets, what we have done here, if they came down so much, we did decrease waiting but if we get a. Here, mandy made the point before, little bit after problem as far as near term growth rates and core countries like china and brazil. We might use that to take advantage and go to an under weight for the first time in years in that asset class. And the reason behind it t is growth levels slowing. Yeah. Slowing growth. Trouble with the transition from fixed Asset Investment led growth to consumer led growth. I think thats going to take a while. So i think it might take about a year or two to get back into a more Sustainable Growth mode for some of those emerging economies. Good point. And mandy you mentioned japan. A lot of debate about those printi Printing Presses in japan. And yet, it hasnt been investable in 20 years so no wonder any new Economic Policy has people looking toward those exporters. I remember they called it the lost decade for japan then joke oh, okay i guess thats lost two decades. They needed someone to really just turn spigots. So i guess they did what bernanke did back in qe and even though it is a volatile market, we have seen it run up incredibly and took a run back down. I think run up and incredibly rundown 20 . This is market trying to findity feet but i think a lot of people are starting to say this could be for real. If the economy shows the positive impact of the Printing Presses then it is hopefully going to be a sustainable run. Right. Really, you talk about trading. We will bring in gordon. He just finished up his trading. Gordon, tell me about the end of the day here. Maria, strong. Lets face the facts, very simple. Bernanke came out and gave something to worry about thp. The correction is done. We felt that last week when we chatted. It just felt that way today. He said we would stay the course. Do what is necessary. It is like we have talked about in the past. Going to be Monetary Policy following, not leading, the economy. And he will stay the course and now investors that were skeptical are buying in. Direction is complete. We have gotten back to the levels and can you feel it. What do you think happens tomorrow . On a day that market closed at the high, two you expect a strength in Opening Hours tomorrow . Or is it all about Bank Earnings that weve got . That will play into it. But listen, we havent been shocked by earnings yet. Expectation is low on that. I think we will be okay on that front too. So i dont see any reason to derail it. The correction of momentum, everybody should carry to the end of the woke, maria. Who is jumping in here, john . The correction was 6. 3 that we had. I think that everybody keeps we had many corrections but nobody wants it boy tuy the dip. We were down on the dow and people were panicked that we were down so much. With lower numbers, now 1 move said 150 point. I think thats what we have to recognize. Is once we get bigger and bigger numbers, market is fluctuating more. We arent moving so much you have to be concerned we are in this bubble like territory. As gordon said, 6. 5 to 1 in terms of earnings expectations being lowered, i think the bar is very low. And i think they will probably be again. What we need is lower unemployment rate. And we need top line growth to get the bowls and get individual investors back in and have these guys moving money out of bonds and into cash back into the market. So we havent seen that rotation yet. Right. We will be watching the Earnings Period as a result of that and looking to revenue. Thanks, appreciate your time tonight. See you soon. Bulls on the run. Not just in spain where the annual run continues through sunday, by wait. Wall street too. How can anybody say a bear in this environment. The debate is next. On the words of ben bernanke, causing a war of words among fed bau watchers. Youre watching cnbc,. Welcome back. Plenty of movement as we hit record highs today. Josh lipton is reviewing activity. Josh, over to you. Check out and, saying this one is a buy expecting strong performances as it begins to transition away from reliance on pc demand. Price target here is 5 bucks. Then the Home Builders, dhi, lennar, enjoying bounce back and positive news regarding flag ship cancer drug for celg. And the dow, gainers including intel, microsoft, which announced that long awaited restructuring, and disney. Finally nasdaq, your biggest gainer randal resources. As dollar dropped, you saw some of the miners not joy big gains and amazon poked above 300 for the First Time Ever today. Up 19 this year. And gap reporting june sales. Same store sales up 7 , best in estimate. Maria, back to you. Thanks so much. Another record day on wall street. Lpl financials says stocks keep on running. But harry of survive and prosper has a different view. Both joining me to make the case, jeff you say the run in stocks continues. What do you see driving the market higher from here . If you look at the private sector of this economy, it is growing rapidly. The government position is sinking to the lower level in ten years. It is in recession. Private sector gdp in first quarter, ex government, 2. 7 . Probably as high as 3. 5 in second quarter. Maybe accelerate the secretaondf of this year. This is better revenue performance. The earnings numbers are what will push stocks higher. Harry, what about you . Youre on the bearish side of this. You are expecting a crash. Im expecting a crash. Not quite yet. I think the economy is doing foin fine. I think it looks like late 2007. Economic growth, stock creations like 2007. What happened is we had sub prime crisis emerge. And george said several months ago that real estate thing and china looks just like that. And i agree. Theyve bp overbuilding for a decade. Itll take something to trigger. I dont think itll be the economy being weak. I think jeff is right. Earnings will continue to go up. I think something goes wrong in Southern Europe and something goes wrong in china. And china is most likely a trigger. With this system of debt around the world, just like 2007, all it takes is a trigger. Four states trigger a whole worldwide stock collapse and break down. Im not looking at the economy causing this. Just something goes wrong somewhere in highly stretched world with four to five times the debt. Thats just not sustainable. Oh come on, harry. You cant Say Something goes wrong somewhere some day. The market has been focussing on the fed. Focussing on earnings. You dont think either of those things caused socalled crash that youre looking for . No. Well well, yeah, basically when something goes wrong, like in 2007. Market hasnt been dominated by europe for over a year. Until someone has it exit the euro or someone doesnt qualify for bailout. I am worried about a vicious cycle commodities falling, emerging countries underperforming. They are trying to move hundreds of millions of people to cities. They will put people off farms into high rises and they wont have anything to do at some point. Thats what im worried about. I dont see a problem with the u. S. Economy near term. Longer term, demographic trend only get worse. And they get especially worse in europe in the next few years and especially germany, switzerland and austria. Those are the stone walls of europe. What do you say it harrys concerns . Harry is right. There is a tremendous amount of debt but not concentrated among businesses and consumers. They look to be pretty good from a Balance Sheet standpoint. I think they are in a better position to with stand any pressure that may come on foreign governments as a result of their indebtedly or banking system. While there may be spot around the world where there is likely to be challenges, europe has ways to work its way through and china has bumps in the road as well. I think we are far more insulated from that, given the change in Balance Sheet positions from where we were five, six, seven years ago. So where would you put money right now, jeff . You have to buy the buyers here. The stock doing the best are ones where people are buying most shares. Thats obvious. But the companies themselves that are doing the boying. The buy backs that are lifting this market. In fact if you look at the 100 stocks in s p 500 seeing the most buy backs, they are over 25 this year. Huge gains. So you want to focus on the consumer care. And listen for that this earning system. And really enacting their buy back programs while a little bit after short term sugar high it has added to upper buys in the market. So final word here harry, what is your strategy then. If you are expecting the market to come down, crash is the word you use. How do i protect my assets . Im telling people, the u. S. Dollar, is one of the best hedges when things crash and good down. All assets go down like this 2008. U. S. Dollar index and high quality bond were the good thing. Im telling people, you cant be out of this market. Like jeff said, it is mostly going up an went up in the Great Depression frankly. Went up more years than it went down. But there are time periods i think the first half of next year is the time to be def dedefensive, january through april. If we dont see a crisis by then, i will be like, maybe this is a while. But i am sensing the bubbleness. Im seeing factories in china and europe that worry me so i think we are getting close to something going wrong. Be out for a short period of time in case things crash and if they start to crash, stay out and buy when it crashes. All right. Just like in 2009. Gentlemen, thank you very much. We will watch this market. We have breaking news in washington from the senate. Eamon javers has more. Over to you eamon. Elizabeth warren and john mccain, two senators joining forces today to introduce a bill that would reinstate glassstagall. That has been reformed since the late 1990s. Again they are introducing the bill saying they want it put glasssteagall back into practice. Since core provisions were revealed under 1999 shattering the walls of investment banks a culture of dangerous greed and excessive risk tanging has taken route into t in the banking world. That the news from here, maria. Little chance that this point that this bill will pass. But lobbyists in town will keep an eye on it. They understand it represent a populist upwell of angest about b big banks and their role in the collapse. They dont expect this will pass in ooeither the senate or house. We will see if they do that more in the future. Thank you. Market hitting an alltime high on the words of ben bernanke last night. But a word of potential replacement has concern and the impact on the market. The story coming up. Plus, despite numbers, this is a trust of wall street, are you making the same mistake . Back in a moment. Welcome back. Battle for dell once again heats up. Josh lip top with the details. Josh . Yeah, maria, a headline making brawl about the few tour of dell. Michael dell want to take the company pry private for a price that iicahn opposes. Tune in to squawk box for more on that bid. Remember, july 17, the day before voting, shareholders will be at a alpha conference. Thank thank you. Ben bernanke is leaving in january and that do have a dramatic impact on the market. Former treasury second Larry Summers may land that job after months of lobbying president obama. Summers is flash point for many off and on wall street. Ed butchy, former speechwriter for Larry Summers, said he would be an excellent choice. He joins us right few for geneva. Jim does not agree. Good to see you both. So jim, let me kick it off with you. What do you think the Market Reaction would be if Larry Summers got the fed chairmanship . I think if president obama wants a market rattling circus after confirmation hearing, then by all means he should pick Larry Summers. I think that is a theory he would be easily confirmable. Because of his intellect. Because of his time in the clinton administration. I think republicans would use this to put obamaites on trouble. And for housing bubble. And im not sure if he is confirmable and if he is, he is a weakened fed chairman when i think you need a strong fed chairman. Ed, what about you . Whats your take . I disagree with jim on that. I think if there is any problem for Larry Summers in terms of confirmation it would be from the left by people like elizabeth warren. Who today said glasssteagall should be reinstated. But i dont think there would be that much of a problem. He is neither seen as a hawk nor a dove. He is seen as a centrist. Hes not been controversial with republicans in the way that democratic economic figures have been. Ed, given his track record, what are the chances he would continue bernankes policy. Such as tapering, for example. I think very good chances. I say he doesnt have a reputation as a dove and janet does, but the fact is he does tend more towards dovishness. He has been in support of extraordinary measures to deal with this crisis. There are questions raised about his ability to manage people. And know that that comes up frequently. But there th is a chairmanship of the fed. He wouldnt be asked to mediate the iz israeliarab dispute here. Well, if you let those last fed minutes, i dont know if it is there is quite a bit of conflict. And i respect him a lot and he is a fantastic columnist but he is really overestimating summers ability to slide past republicanets. Yes he will have trouble on the left but i can tell you from the people i talk to, if the Obama Administration thinks that summers will squkate through wi republicans, they are mistaken. The fed is highly unpopular among republicans. They are going to make that very clear to Larry Summers. And if you want if you want a strong fed chairman who will continue as i think the fed should monetary easing, i think having a weakened fed chairman after a bruising confirmation hearing is not the way to do it. Jim, youre an fan of Larry Summers in this role. I see that. But what damage might he do . What is the real problem . Well, first of all, so lets say we get by the confirmation hearing and he is the fed chairman . Maybe eds right. Maybe he would continue the extraordinary measures. There is confidence for the measures. I think it would be a fantastic choice would be Christina Roemer who both has some washington experience. Christina roemer is like the democratic bernanke. She is a depression expert. She understands we need to close the output gap of do domestic product. She would be a great pick. Ben . I think it is interesting how deep and rich the bench is. There is a lot of good choices there. Janet yellen, Stanley Fisher from the bank of israel, don and Larry Summers of course. And i think theres a key difference here between Larry Summers and the rest. That is the president worked with Larry Summers. He knows haiLarry Summers. He trust hem. Him he has a record with the president. He may be choosing someone he knows and trusts. So i think that will count in his favor. All right, we will leave it there. Thank you very much, gentlemen. We will see what happens there. We appreciate your time tonight. After a big decline in the month of june, dow and s p 500 are back to alltime highs, battling back. But nearly half of allamericans missed out on the rally because they dont even own stocks. Jeff cox says thats because they dont know wall street. And we have special coverage of alltime highs tonight. We have man managers and strategists. It all kicks off tonight at 7 00 p. M. Join us. The most Free Research reports, customizable charts, powerful screening tools, and guaranteed 1second trades. And at the center of it all is a surprisingly low price just 7. 95. In fact, fidelity gives you lower trade commissions than schwab, td ameritrade, and etrade. Im monica santiago of fidelity investments, and low fees and commissions are another reason serious investors are choosing fidelity. Now get 200 free trades when you open an account. Welcome back. According to a recent gallup poll, americans are invested in markets in some way. This is a big difference from the 67 in june of 02. So why the big shift in our own jeff cox says it is all about trust and investors dont believe they will get a fair shake in this market. Marty sees this differently. Good to see you both. Jeff, kick us off. Is the distrust in wall street keeping investors out of this market and what is it going to take to get Retail Investors to believe again . Just a couple things to throw at you, maria. 54 said the recent runup in a stock market either helped them a little or not at all in their portfolios. An even bigger number, 87 said they are not going to change their portfolio allocations regardless of their runup. I think chuck schwab, laid out the reasons very well, of what the problems are. It is all of the old suspects. The High Frequency trading, flash crashes. I think this is my third reason is the fed. We are in a crisis policy now. The average investors thinks if the fed pulls the plug on this money printing operation that we are going to go right back down the rabbit hole as far as the market goes. We saw 13 years of the market with basically no gain. You cant blame investors for being a little skiddish here. You dont think it is trust at all . I dont think it is trust at all. Then what is it . Historically it is not uncommon for investor judgment to suffer from painful memories of the most recent bear market. And in particular 2008. How is that different from trust in sounds like the same thing. Not if client are listening carefully to their adviser. We are constantly handholding our clients. Talking them through the trust. But most of active managers actually underperformed the indexes. So i dont know about listening to my adviser, if the adviser knows more than anybody else. I have a problem with that. Not all advisers know more than individuals. I dont always agree with that. I think most advisers are sound on what is going on in these markets. Historically in early and middle phases after bull market. This investor judgment suffers. And right now, because of the winds, head winds that include direction of fed policy, sovereign debt, budget deficits, all of this comes together and effects the Investors Trust somewhat in the market. The adviser has to step in and take a disciplined approach and have an investment solution. So coming back to the simple question, how come Retail Investors are not in this market . I believe they do trust their advisers. I well start it see more investors confidence come into the market. And in the final phase of this bull market rally. That has historically always been the case. In the final phase and i do believe like rich bernstein says, we are in the middle innings. We are in this bull market as the fourth and fifth you can talk about that until the cows come home about where we are with the bull market. But the investors out there believe at some point we are going to go were probably in some type of a bubble. Or if were not in a bubble, they just dont feel like they get a fair shake. I think it is what i said before. If you want to look at what do you do, we have been waiting so long for real reform. The High Frequency trading issues to get addressed and they never get addressed. Why . Because there is too much money involved. And the regular investor feels that the game is rigged and controlled by people at the top. Jeff, i agree with some of those points, but not all of them. I believe for the doityourselfers, they have challenges and issues because they dont want to listen to advisers so they may lack 20 of those outperform advisers, like one in four. That may be true. But there are still advisers out there that are doing the right no doubt about it. Great conversations, guys. Thank you very much. See you soon. Thank you, mark, thank you, jeff. Stocks closing at alltime highs today. Hopefully youre in it. Up next, throw wall street pros that tell us what could happen with this rally tomorrow. Stay with us. [ babies crying ] surprise your house was built on an ancient burial ground. [ ghosts moaning ] surprise your car needs a new transmission. 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But at cocacola, we know when people come together, good things happen. To learn more, visit coke. Com comingtogether when you do what i do, iyou think about risk. I dont like the ups and downs of the market, but i cant just sit on my cash. I want to be prepared for the long haul. Ishares minimum volatility etfs. Investments designed for a smoother ride. Find out why 9 out of 10 large professional investors choose ishares for their etfs. Ishares by blackrock. Call 1800ishares for a prospectus, which includes investment objectives, risks, charges and expenses. Read and consider it carefully before investing. Risk includes possible loss of principal. Welcome back. Dow and s p 500 closing at alltime highs tonight. 30 seconds on the clock for each guest. Weber security. Steven rosen. So hawk, youre up. 30 seconds. What do you want to look at tomorrow . Thank you. One Economic Data point we will watch tomorrow morning, university of michigan confidence. Confidence levels at multiyear highets affecting Consumer Expectations and attitudes. Broader markets have been strong with this move higher. The quarter end weakness we saw a couple weeks ago is a distant memory. Stair cycle out performing rated 120 price target. Fundamental backdrop remains solid. We like the stock here. We will leave it there. Thank you. Steven youre up. Po second on the clock. What do you want to be repaired for . We are going it watch the financial earnings tomorrow. We have both jpmorgan and wells fargo. Even with the recent bullish comment by bernanke about extending qe, i think there is still a lot of head winds in the mortgage space and housing sector. Jpmorgan will probably be rosier on their call. I think trading has a positive outlook and i think even with regulations and further leverage ratios tightened, i think it is a bullish outlook. So you should see the rally continue tomorrow. Well be watching. Thank you guys. Up next, one of the most popular die dietary is up lesupplements on market could lead to higher cancer risks. Washingmachine hoses every five years . What if you didnt know that you might need extra coverage for more expensive items . And what if you didnt know that teen drivers are four times more likely to get into an accident . sup the more you know, the better you can plan for whats ahead. Talk to farmers and get smarter about your insurance. We are farmers bum pa dum, bum bum bum bum this is greta. She works in quality control. She makes a nifty living sleeping on mattresses pioneered by engineers whose singluar devotion is not stopping until they have given her the best sleep of her life. Thats not greta. Save up to 500 on the tempurergo collection and get your best sleep possible. Visit tempurpedic. Com to find a store near you. Welcome back. Health supplements have welcome le memgs is untd fire today. A new study by the Cancer Research center shows men with high concentrations of omega three fatty acids in their bodies increase their risk of Prostate Cancer by 71 . Those are found in many diet pills. One of the co authors of the study is with me now to explain the detail of the findings. Good to have you on the program, sir. Thanks for joining us. Thank you. Millions of men and women buy and take Fish Oil Tablets every day. They were supposed to be so good for us. Point blank question, should they stop it as of this minute . Men of a certain age and probably over 50 probably should stop taking them. Ill tell you why. The reason is we know of no benefits and now we have some evidence of harm. What is the evidence of harm . The evidence of harm comes from a study actually it comes from several studies. Our is the Third Largest one that has found that high levels of omega fatty acids in the flood are associated with the increased risk of prostrate cancer. A 71 increase of high grade pros tut cancer which is the cancer that is serious and will kill you. Over 2,000 men participated in this study including 834 who had Prostate Cancer. How does that factor into the conclusions that it increases their risk of Prostate Cancer by 71 . The study had over 5,000 men. Its based on a much larger number. They actually measure the fatty acids in the blood. Its a special study. But you save the money but not doing it. So there are over 800 cases of cancer which is a pretty large number actually. Cancer is a rare disease. So i think the combined with the previous study that we published two years ago and a very long study that was published in europe before that, the evidence is consistent. Wow, is there any understanding of why the omega fatty acids increase the risk of cancer . I wish there were. We know that inflammation is involved in cancer and particularly its involved in Prostate Cancer and also oh, me3 fatty acids is perplexing. But they have been touted as so beneficial. I used to think they were beneficial for Heart Disease but two years ago there was a publication that combined of data from all the trials of fatty acids and cardio vascular disease and they found absolutely no effect. I think from a stop of science were moving along and understanding things better and i think the other part is the information thats fed to the American Public and actually the International Public by supplement manufacturers. Its not skin tiff clee based. You say to be safe stop taking omega 3 acids immediately . I would be willing to say that for men age 50 and older. Theres no benefit and it could be harmful . Exactly. Thank you, sir. Good to have you on the program. Thank you. Take a short break. The dow and s p 500 closing on a new high. My observation on Global Equities is next. Tune in tonight at 7 00 p. M. Whl Bill Griffith and i bring you special coverage of this historic rally. Were back in a moment. Stay with us. 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Cars and parts, fuel and steel, peas and rice, hey thats nice Norfolk Southern whats your function . Helping this big country move ahead as one Norfolk Southern hows that function . Finally tonight my observation on the heavy outflow from emerging markets when the u. S. Economy hits all time highs. The values have gone down double digits. For a while they were the hot story, the big story. From the lows of 2009 those funds were up 130 . By april of 2011 as billions had flown into these regions on the expectation and the hope that growth levels were higher there than the rest of the world but the growth levels have reversed while the u. S. Story has stabilized. For the past six months ive been talking about money moving into mexico for example. The latin american region is critical to companies who are betting that people are rising from poverty, moving up the income ladder and will spend money on kmumer goods. Growth levels have come down from ten years ago. More importantly, the security and the crime part of the story. That has had no change if any. Thats not good because there is a cost to that. Investors have gun to price it into their models. While growth rates are still rising in places like mexico and there is still an expectation of growth resuming at higher levels in places like brazil, investors are realizing that valuing these growth hot spots must conclude crime, the drug traed in mexico, the kidnapping in brazil alive and well. Money has flowed out of those areas and found a home in safer places like the United States where the rule of law is clearcut. So whether emerging markets come back . I think so. In fact, we could be seeing the beginnings much a bottom. Right now investors are looking at the u. S. As the best house in a tough neighborhood. Theyre looking for safety and stability. Where rates are still at record low levels even with a tick up recently and the fed continuing to back this market, well see evidence that rates will move up fast or an economy that will move down before this train reverses in the u. S. As far as emerging markets as the next round of money moves into it, investors will valuing those growth spots differently including the crime and security unless there is a change in that part of the story. Meanwhile the story of the u. S. Today, big gains. The Dow Jones Industrial average finishing at the highs of the day at a all time high of 15,460. Volume picked up as well. S p and the nasdaq higher today. S p up 22. New high there. The nasdaq on a 13year high of 57. Have a great night. Join me tonight for special coverage of the market all time high. Fast money begins right now. Arent we call Shiny Happy People today because we are live from the nasdaq markets sight New York Times square. Im bryan sullivan, melissa lee still on a beach somewhere. Guy adami, tim seymour, michael kho khouw