Reuters reporting he was a member of the u. S. Army reserve. Authorities say there was no connection to international terrorism. Dallas police chief david brown says it appeared the shooters plan to injure and kill as many officers as they could. The bloodshed unfolded blocks from where president john f. Kennedy was slain in 1963. We will have more as the situation unfolds. Again, were waiting for the attorney general to take the podium. Now lets send it over to scott wapner for the Halftime Report. Thanks so much. Sue herera. Welcome to the Halftime Report. I am scott wapner. 2 top trade this hour, saving stocks . At the highs of the day. With us for the hour today, jim lebenthal, jim brown, sarat sethi, and Steve Liesman here onset as well. We do begin with the markets. I said, session highs today, a strong rally following that blockbuster jobs number. 287,000 jobs added last month. Way better than expected. A number of class asset, not only stocks. Bonds selling off today. Gold as well. Equity market seems to like that. The question today, does todays jobs report give the green light to buy stocks . Josh brown, id love your take. Stocks at session highs. Seems this is exactly what the doctor ordered. The fed cant go in july. After last months terrible jobs report. Concerns about the brexit. The economy maybe isnt as bad as some people thought it was going to get. Is now the green light to buy stocks . You never lost the green light, i think. If you have an adviser whos not lost his sanity through things like the may jobs report and reminded himself, or herself, that its a onemonth number, doesnt change the world. Doesnt change everything for policymakers, these types of affirmations along the way kept you from doing the wrong things with your portfolio. By the way, the real headline its not just a rally today. You are at an alltime record high for the s p total return index. Meaning including dividends. This is whats important to most investors. Vnq, vanguard reit etf, same thing. Look at vig, widely held depreciation and look at internals confirming, advanc advancedecline, 50day crosses back above the 2 opinion day. Theyre moving in the right direction. They are. Not about one days job report. Jon, two weeks ago yesterday we were looking into the abyss. If felt like. Because of the brexit vote and fallout in the equity market. Now the s p is ten points away from a new alltime high. Yep. Whats this signal for investors today . Ah, the signal was, of course, the dip buyers are right, yet again. And last two weeks ago, just as you were jetting over to europe, judge, the, what was happening in the markets was a oneday upheaval and it didnt last the whole session. Yeah, closed out on the lows that day, but people in the afterhours werent running around thinking that they had to find protection after that 600point drop. Instead they were buying, in particular, they started over in asia, and all of these folks that basically need to be in the market, to joshs point, if youve been on the sidelines, youve been missing an awful lot. I havent been fully as committed as i want to be, because i havent found as many good opportunities. Seems now, paul, the market is set up, today, almost sets you up for a summer rally. As i said, the feds not going this month. What else you got . You got concerns overseas. Gives an excuse for money to come here. You have a jobs report that confirms that the economy isnt going off the cliff, that some thought it might be after the last jobs report. Why not buy u. S. Stocks . I totally agree. This was the day you had to get right. Look actually at what preceded us in the past couple of days, bond yields and record lows and stocks coming off. That was the Investment Community saying, okay. I cant go into europe, and im getting worried about the u. S. , because they were worried about a repeat. And then a blowout number, trend of 147 k, weth iryou like it or not, thats what the fed likes. Youve got the fed pro pectti prospectively. The hike in the equation, probably not until december minimum pap complete relief rally and its real. Sorry. You said its real. Look what treasuries had done up until today. Real fear that bond market was the one that was getting it right. That the plunging yields was telly a story that the u. S. Economy was maybe heading towards recession. Or at least something sinister was out there. Scott, youre absolutely right. I dont think we can still ignore what the bond market is telling us. The question, whether what its telling us is the u. S. Economy isnt going so great or is it simply responding to negative interests rates through most of the developed world . The u. S. Economy has to be strong, my opinion to get the Global Economy going. The real test is earnings coming up over the next few weeks. Im looking to see what ceos and cfos are saying about particularry the international and european exposure they have to sales. Seeing any dropoff postbrexit, and they dont. Dont see convinced. Forced buying. The move today yeah, but the bond market is because people are hiding out in yields and want to find something. What youll see, to joshs point, the highs on dividend producing stocks. No alternative for people to go other than buy bonds. Youll see a rotation in the market. Youre seeing it today. Cyclicals doing better because people are finally back to why arent you seeing more selling in treasuries today . Because people are hiding out. Not putting money into negative Interest Rate bonds. Well telling people you dont need to hide out. Its safe to buy stocks. A summer rally. El low kuw allocated to bond still not an anomaly its rising. Number one. Number two, one job report doesnt change anyones entire viewpoint. Disinflationary, call it, pressures coming from the large part of the developed world. That doesnt change because 35,000 verizon workers came back in june. I dont think that todays jobs report is a green light, red light, yellow light, and i dont think anyones convinced or changing their mind that the economy is different than they thought yesterday. Depends what you thought the light was. Right . If you thought it was green, you know, theres a reason for caution in this number. If you thought it was red, theres a reason for optimism. Look, the way most economists are looking at this number is, forget the 11,000 dmoun may. Forget the 287 reported today. Take the average. The threemonth average is the way people look at it. Extraordinary volatility and what else were learning here, and we got on this earlier. A notion that every time weve been on the abyss of the end of the world as we know it. Right. Its not happened, scott. And and every you can trace that back to last summer in august. Just to winter. Yeah. Let me remind you we are waiting for the attorney general, loretta lynch, at the Justice Department to make a statement. We believe it will be a statement only. No questions taken. That can certainly change, on the shootings in dallas. Well take you live there and we expect that to happen immentally and well go there. Finish your thought while we wait for the attorney general with the understand i have to interrupt you, anyway. You interrupt may, anyway, scott, so it does really matter. Theres a case to be made we are doing this, unfortunately, but, you know, the opposite is worse. This idea were doing a 2 growth. And very little has shaken us from this and its been a pretty good bet that when the data gets volatile, weak q1s. Sometimes do 4 and 0, sometimes 3, 5 and 1, 5, but end up at 2 inexorably. And had job growth. The fed, i think, will not make a mistake and the market hasnt times ed traded as if it was going to. We dont think the fed will go this month. People dont think the feds going to go in september because its closer to the election. Right. Maybe that moves it until december. So youve got a period of time where the greatest decider of maybe whether stocks can be supported at higher levels are earnings . That starts next week with the banks. Do we think that earnings will support stocks at higher levels. Another thing to consider on banks, i would add is that Global Investors are looking at the italian Bank Situation and european banks. What if you get a recapital asian sto ization story and draghi is good at times like this. Look at banks, look at the Global Scenario and europe is what are the odds that germany will say, we are not willing to throw out the entire easy project over something so trivial as letting the Italian Government and its private partnership just put 300 billion into the banks . What are the odds, would you say, of Something Like that happens . Can i stake a step back from that question, which is this should we ever have been betting on a serious downturn in either u. S. Corporate profits or the u. S. Economy from whatever happened over there . That has always even systemic, its always struck me as overblown, and a lacking of a sense of proportion of the risks and the upside catalyst, though. I know. But just saying always does that. Last august, thought china was going into the abyss and the market sold off the dramatically and came back. The end of the world happens only once. Its a trade you have to time carefully. Steve, if i can rephrase your question. Starting now, though. About earnings going down. Thats actually not what the problem has been as i see it. Earnings have been flat the last two years. An issue. If we knew that going in two years we would have been despondent about that. The question, whats going to happen in the second half of this year and whats the momentum in terms of earnings going to be in 2017 . A lot of people are expecting earnings will pick up on the back of a, weaker dollar, compared to last year. Right. And Higher Energy prices. Interrupt you. Here is the attorney general loretta lynch. Good afternoon, everyone. Thank you all for being here today. Last night at least five Police Officers were shot and killed. Several more were injured, along with two civilians, as they sought to protect a peaceful protest in dallas, texas. Our thoughts and our prayers and condolences go out to the families of those who have lost loved ones. The department of justice including the fbi, atf, the u. S. Marshal service and the u. S. Attorneys office on the scene is working closely with our state and local counterparts, and we intend to provide any assistance that we can to investigate this attack, and also to help heal a community that has been severely shaken and deeply scarred by an unfathomable tragedy. This is an unfolding situation. We will be providing Additional Information when it is available and appropriate. More so, this has been a week of profound grief and heartbreaking loss. The peaceful protest that was planned in dallas last night was organized in response to the tragic deaths of alton sterling in louisiana and philando casti castile. We are feeling the death of Brant Thompson and four others fallen officers whose names await release as we await notification to all families. After the events of this week, americans across our country are feeling a sense of helplessness, of uncertainty and a fear. These feelings are understandable and they are justified, but the answer must not be violence. The answer is never violence. Rather, the answer, our answer, all our answer, must be action. Calm, peaceful, collaborative and determined action. We must continue working to build trust between communities and Law Enforcement. We must continue working to guarantee every person in this country equal justice under the law. And we must take a hard look at the ease with which wrongdoers can get their hands on Deadly Weapons and the frequency with which they use them, and we must reflect on the kind of country that we want to build and the kind of society that we are choosing to pass on to our children. And above all, we must reject the easy imuss of bitterness and rancor and embrace the difficult work, but the important work, the vital work, of finding a path forward together. And above everything, we must remind ourselves that were all americans, and that as americans, we share not just a common land but a common life. Not just common goals, but a common heart and soul. And those weve lost this week have come from different backgrounds, different neighborhoods, but today theyre mourned by officers, by residents, by family and friends, by men and women and children who loved them, who needed them and who will miss them always. They are mourned by all of us. To the families of all who have lost their lives in this series of tragedies, we share your pain and your loss. To our brothers and sisters who wear the badge, ewant you to know that i am deeply grateful for the difficult and dangerous work that you do every day to keep our streets safe and our nation secure. Our hearts are broken by this loss. And the department of justice will do all that we can to support you in the days ahead e. And to those who seek to improve our country through peaceful protest and protected speech, i want you to know that your voice is important. Do not be discouraged by those who would use your lawful actions as a cover foretheir heinous violence. We will continue to safeguard your Constitutional Rights and work with you in the Difficult Mission of bidding a better nation and a brighter future, and to all americans, i ask you, i implore you, do not let this week precipitate a new normal in this country. I ask you to turn to each other not against each other as we move forward. Let us support one another. Let us help heal one another. And i urge you to remember, today and every day that we are one nation. We are one people, and we stand together. May god bless the families and the loved ones of all who were taken from us this week, and comfort their grief with his everlasting grace, and may god bless the United States of america. Thank you. Will you take questions . That is the attorney general of the United States, loretta lynch, calling the shootings in dallas last night an unfathomable tragedy. One that left five officers killed, seven more wounded. Two civilians wounded as well. The deadliest attack on Law Enforcement since 9 11. Ms. Lynch also saying its been a week of profound grief pointing to those shootings in minnesota and in louisiana as well. Well take a quick break on the other side get back to our market coverage here on cnbc, right after this. As a supervisor at pg e, its my job to protect public safety, keeping the power lines clear, while also protecting the environment. The Natural World is a beautiful thing, the work that we do helps us protect it. Public education is definitely a big part of our job, to teach our customers about the best type of trees to plant around the power lines. We want to keep the power on for our customers. We want to keep our community safe. This is our community, this is where we live. We need to make sure that we have a beautiful place for our children to live. Together, were building a better california. Sflo. Back with the trader blitz. First up, etna and human na under pressure. Duj raising keshs over that particular deal. Not a surprise over what weve seen in similar deals but a profound impact on the stocks Going Forward, doc . Yeah. And i think we would probably agree, judge, if we discussed it, this would be something that could be pretty negative for consumers getting these two giants together. Certainly the Justice Department throwing up these red flags about it is something thats caused basically to run away from this. Not trying to support it at all. Just saying, this is going to break it up. Josh, twitter apparently looking to take a bigger plunge into pro sports. Looks like theyre having success. A natural fit for their platform, if positioning themselves as the place for live events. Whats more live than a sporting event . Rsi a little getting into that territory. To be a temporary pullback but probably double bottomened and hits a rock. Gap should be saying, thank you old navy . One of these unexpected things. A lot of Short Covering here. Stocks still down 5 for the year. Id look for a trend instead of chasing it. If you own it, time to take some money off. And this note, top ranked analyst, we think intel is unlikely to miss. We upgrade. Yeah. Do you upgrade . No. But i hold it, scott, and strongly hold it. Look, its pretty much praised we get theyre not going to miss. Having said that, stock trades around 13, 14 times this years earnings. 3 dividend yield. Call it like it is. A cyclical economy now. Not a hightech juggernaut. If you believe like i do the u. S. Economy will power the rest of the world with it the Data Center Group for intel should propel strongly through these earnings. Coming up, amazon, up over 70 over the past year and hitting another alltime high this week. Too rich . Or can you still buy in . Plus, new reports say espn may be getting ready to offer a streechling package that wont require a cable subscription. What does that mean for disney . Well discuss, next. Ah the freedom to watch your directv with unlimited dat from at t. E steady stream entertainment. Your favorite shows. Reaming on. You can just keep streaming. And streaming. Hello jim. So much streaming, but id really like to go home now. My arms are very tired. Seize the data get our best unlimited plan ever so you can stream and surf all you want with unmited data fr at approaching medicareigibility . You may think yocan puoff checking out your Medicare Options until youre sixtyfive, but now is a good time to get the ball rolling. Keep in mind, medicare only covers about eightyercent of part b medical costs. The rest is up to you. Thats where aarp Medicare Supplement insurance plans insured by unitedhealthcare suranccoany come in. Ke all standardized medire supplement insurance plans, they could help pay some of what medicare doesnt, saving you in tofpocket medil costs. Youve learned that taking informed steps along the way really makes a difference later. 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Annual 24hour shopping event for prime members. Can the stock continue its run . Lets debate. Josh brown the only one that se says yes with a buy . A difference. Im not saying, sell it. Im saying i wouldnt buy it. I know. Not saying anybodys selling it. Momentum place. A question of riding it as opposed to ill actually say sell it. Ill say sell it, because oh got a debate now, scott. Yeah. It just got real. I dare you to sell it. It is on should i leave now . Boom on the calendar, that says, the 12th of july is their prime day. 100,000 items for prime members only. Right . Sure. Because thats on the calendar, and only because of that, judge, i think the ramp that goes into it, that gives you your opportunity. You take your profits, you get short for days, josh, not for weeks and months. You know, so in december when people say, oh, jon was the jerk that said sell at 474, whatever it is and now its 847. Watch it between, you know, right like i say. What if prime day adds a bunch of prime members . I think it will. What amazon wants to do were anticipating that. You think thats why the stocks gone up . To docs point, i concede that. What ends up happening with prime day, it pulls forward growth from the next quarter. Agreed, yep. Analysts know that. Actually, last year you had a, a pretty brutal, doesnt really matter now, but a pretty brutal selloff late july into august as enthusiasm waned after prime day. To docs point, maybe a slightly better entry. However, i think if you want to be long on this thing, you can use the trailing 50 day. Its rising. Youll raise your stop each week with it. If wrong, youll know quickly, but if youre right, you could be probably inarguably the best company in the world right now. Mkm partner, continue to view amazon sorry the best longterm business. Key word. Long term. Take profits july 12th, youll make money. I i agree with josh. Going into prime day should, mark really proud of this segment. Nobody says the word pe ratio. Thats key. Stock up 38,000 in 19 years and it has never sold at a market pe. Never sold at a reasonable pe. Im really proud we got through this segment and didnt go there. Dont ruin it. Thats the convenient excuse that Value Investors like jim lebenthal. A parodyne. Should not be in the stock. You agree on that a. Number of different ways to make money in the stock market. This is a good momentum, growth stock. Not a value stock, never has been never will be. Sarat and i sit on the sidelines. Well make money in other areas. Thaws of stocks. I applaud everybody who made money in amazon, i hope you continue to make money. Ill make money elsewhere. Agreed. Lets all hug it out. Come around the table. Come on. I tried to get out of this chair once. Next time theyre going to yell at me. Sue herera has the latest headlines. Sue, whats happening . Hi, scott and guys. Whats happening at this hour, we begin in dallas where five Police Officers were killed and seven wounded in the deadliest attack on u. S. Law enforcement since the 9 11 terrorist attacks. Three suspects were taken into custody while a fourth was killed by a police robot equipped with a bomb after a standoff in the parking garage with police. He was identified as 25yearold micah johnson. President obama, who condemned the attack, greeting other World Leaders this morning at the nato summit in poland. Heading the agenda, the uks recent stroet separate from the european union. University professors and students gathering for a vigil to mark the death of u. S. Student beau solomon. The vigil held at a church near romes John Cabot University where solomon was planning to study. It is getting harder for elder workers to get or keep jobs according to the aarp. By 2022, about 35 of the u. S. Labor force will be over 50. Up from 25 in 2002. The aarp says in a recovering economy, some companies try and edge out Older Workers and hire paid workers in favor of younger, less experienced ones. That is the news update at this hour. Scott, back to you. Sue, thanks so much. Show you the heat map as well. We came on the air today and stocks were at the highs of the day. Take you to the wall in a second and show you whats leading the way. A material kind of day. The s p 500. Just shy of 10 points away from its alltime intraday high. Boy, who would have thought wed be here . Guys . Considering where we were two weeks ago yesterday. I dont know if anybody i dont know. You tell me. I was gone a little while. Anybody on the desk thought wed have that kind of rebound and in the rebound, its overdone because more brexit pain to come . I think we did say it. The way the market reacts to this binary events, freaks out six months in advance and as the event gets closer, the market gets more and more comfortable with whichever outcome happens, and thats exactly what happened with brexit. It happened with 20 different catalysts i can think of from the postcrisis period. Uniquely, this show got that aspect of it right. Having said that, on this show half dozen times talked aapproaching that on the s p 500 and failing. May fail again this time. Half a percent away from it. If we get that breakout that would confirm the rally add bring money off the sidelines. One thing that worries me, ten dwrooer fre tenyear treasury yield, negative everywhere, 1. 4 is fine. What if not saying anything gentleman that Central Banks around the world by decree are buying bonds, and thats pushing down yields . I think its not the judgment of individual people making a declaration by buying the tenyear. Its programmatic. A competition of that and the fed saying were sitting on the sidelines. Why would you not own the bond, because you know that rates arent going to rise according to the fed, as fast as possible . So you can hide out in there. And judge, the brexit and all of the investments based on that, yeah. This is one. Things cameron did a terrible job, and any of the bremain people did a terrible job selling. London, all about it, could lose finance jobs. Back office jobs. Arent the same jobs as big, highprofile jobs where theyre getting paid tons of money and theyre not going to lose all of those jobs. That is what the market is telling you. To leave is not as bad for Great Britain. We all know its going to take years anyway, but it is not as bad for Great Britain and not the end of the world. That was the fear side of the trade. Everybody accuses the people that wanted to leave, using fear, saying this is why we got to get out, all antiimmigrant and this and that. The state side didnt make their case, and clearly the markets are telling them, that the stay side was wrong. Well, the stay side is making its case today in the market. S p 500, about ten points away from alltime intraday high. Coming up, all that glitters, both medals up in double digits. Does that rally continue . Well have the ceo of silver wheat wheaton, joining us with what to expect next. Enis really built into theat foundation of the company. Whole foods market is engaged with pg e on many levels, to really reduce energy and reduce our environmental footprint. For a customer like whole foods, saving energy means helping our environment, and we can be a part of that. Helping Customers Save Energy is a very important part of what pg e does. We can pass those savings on to the environment, the business, and the community. Pg e really is an expert in saving energy, and that partnership is extremely exciting. Together, were building a better california. Gold and sillier outperforming major averages this year. Can the flight to save Precious Metals continue . Our next guest has a strong read on the state of the metals in mining industry. Randy smallwood, president and ceo of silver wheaton. Appreciate the opportunity. Thank you, scott. Do you think these gains in precious metal have room to run . Well, you know, i think when i look and the world at brexit and the path of that setting for other european eu members and such Going Forward and i look around, yeah. I do feel very confident about the continued flight to safety. Theres all sorts of challenges around the world right now, and, boy, gold and silver look pretty good now. Youre not alone in thinking that. Very big and smart and wellseason the investors urging people to get into those trades. I just wonder if todays jobs report we havent seen the end of that. I mean, you look at the pension funds, the theyre just not havent stepped into the space yet. So theres still lots of capacity out there to come into the precious metal space. Randy, its josh brown. Ive been an admirer are your Business Model uniquely amongst all of the mining plays for a long time now. Why do you think you still have this idea of streaming meti also yourself, seems like that from the outside looking in. Going a brilliant thing essentially locking um the stream of the metals coming out of these mines without having to actually own the mines, which only a lunatic would really want to do. Why arent other people doing this . Well, and we are seeing competition in the space. You know, we have focused on good, highquality assets. So you know, it is definitely a very strong Business Model. It definitely represent as much lower risk profile than the traditional mining investments. I think thats the big appeal. We have had other Companies Step into the space. The traditional Royalty Companies shifted to the streaming model business now. No doubt a bit of competition. You cant have as much suction and n success and not bring in competition. A good portfolio giving a Great Foundation to keep Going Forward. What happens if the Global Environment remains a little more uncertainly and maybe im speaking specifically of europe and perhaps in part of asia, but the u. S. Economy starts to pick up more than people think, and it just leads me to todays story of the day, which is the jobs report. Does that send money into u. S. Equities and out of some of these safe haven riskoff assets like gold, like silver, like treasuries . Yeah. I mean, id say that one of the things that makes me feel comfortable about Precious Metals is how well its performed relative to the u. S. Dollar. When i look around the world, the u. S. Dollar it is what we measure gold and silver in. The u. S. Dollar is definitely the strongest currency in the world. My belief, though, is, i just dont see the fiscal sense in terms of maintaining the strongest currency in the world and even making it stronger. So i think the world is getting smaller and smaller every year. Every day. In terms of trade and movement around the world and such, and having the strongest currently is the world, i dont think its a path to success. I think that makes it challenging to keep growth going. So as we see the pressures to try and drive that into the u. S. Dollar i this gold and silver will wreak benefits. A positive view of both. Targets, where you think gold and silver can go . Well [ laughter ] higher. The one thing i have learned. If i was good at predicting targets, ive called a bottom a couple of years and have been wrong, but i do think we have seen a bottom now in january, in terms of precious metal prices. Look at fundamentals around the world. The combination of demand, of flight to safety combined with the fact on a production side, seen peak Gold Production and silver production. The prices havent supported making the industry sustainable. Mines shut down and such. That drop in production, combined with that increase in demand, you know, i definitely see strength. I dont have any problem envisioning silver at 35, 40 again. Or a problem gold getting up to 15, 16. I think well see a couple thousand dollars, easy. That fundamental strength and flight to safety. You cant print it, and thats a real positive to Precious Metals. Wow. You did good there. You talked yourself into giving me targets. Appreciate it. Catch up with you soon. I didnt put time frames on the targets, but those are the targets. Fair enough. The key. Randy, thank you for coming on cnbc. Thank you. Randy smallwood, ceo of silver wheaton. You like these trades . I do. Petes been in silver bigger than i, judge, but i like gdxj and this morning, gold was down i think 24. Now its flipped, and weve got gdxj up against to 48, up from 40 just seven or eight trading sessions ago. Yeah, im sticking with them. Stay with commodities. Crude oil bouncing in and out of negative territory after yesterdays selloff. Cnbcs Jackie Deangelis at the nymex. Crude turned positive. Not a big gain for the day trying to recover from the biggest loss its seen in the last two months. Now, the next level of support on its charts, jim muirio, 43. Yesterday you told me you think we could see it. Do you still think that . Doesnt look like we have jims audio. Lets go to jeff. Let me jump in. Cats got his tongue. Here we are, jackie, in a range. 45 to 50. The range quite some time. Stick with, stocks and crude oil, playing cat and mouse. At the s p 500 is going to alltime highs i think oil will elevate back up, more importantly, getting very comfortable in the wake of brexit. Uncertainty globally, moving that away. The Global Growth crude oil is, comfortable. Watch for the back up to 50 range. If thats the case, jobs number this morning. Wouldnt that push up oil prices more today . The initial reaction was all about the dollar. People got excited with a very strong jobs number, but the fed will not move. Talked a lot on futures about the fed not moving at all in 2016. Trying to parse in the wake of brexit. And with whats going on in china. That component keeps the dollar anchored at 95 allowing crude oil to elevate between 45 and 50. Jim back on next time. Scott, for more on fumpers, head to the website. See you on the show tuesday. Yep. Jackie, have a great weekend. Coming up, espn a la carte. The disney owned Network Planning to ocher a skinny bundle to viewers. Who else but Julia Boorstin has those details coming up next when Halftime Report comes back after a quick break. Halftime report with scott wapner is the place for marketmoving interviews. You dont call a company a sewer because the company made a mistake. Announcer real money. We are short both tesla and solar city. Announcer real debates. People think globalization hurt businesses. Its not. It is technology thats hurt businesses. Competition is a good thing. I dont want to go back to a single marketplace. Announcer the most profitable hour of the trading day. I love this show. All i do is get to tweet about this show im on the show. The greatest moment of my life announcer the Halftime Report. Weekdays at noon eastern. A big change could be ahead for espn. Sources say the disneyowned channel plans unveil a skinny package for viewers. Julia boorstin joins us with that story. Explain this. Reporter were hearing disney is looking for ways to bring different kinds of sports content directly to consumers outside the tv bundle. All the decisionmakers, the ones negotiating such content deals are here in sun valley at the conference. Espn chief john skipper as well as disneys ceo bob iger, and Casey Wasserman tells us inevitable sports will be offered outside traditional tad pv and disney working on options including strategic investment in streaming technology bam as well as more niche offerings. Obviously theyre not going to do anything to affect the value of their cable and sdrishgs contracts, but no question they can start in certain areas and focus on going direct to consumers, whether its a soccerspecific product, im making it up, but you know, a specific project around a specific set of sports or rights, as opposed to a broad offering that looks a lot like espn today. Reporter we reached out to espn for comment. No comment yet on either the bam deal or any of those skinnier offerings. Now, folks here also have talked about what a good job twitter did streaming wimbledon. Lots of talk of how twitter is likely looking to make more sports content deals as it prepares for its nfl content deal that starts this fall. Now, the nfl, nba and nhl commissioners are all here as well as many team owners, but theyre not talking. Back over to you. Of course theyre not. Julia, thanks. Julia with us live from sun valley. Already talked about the twitter thing, but what about this espn story . Love it. Long talked about, long rumored about. Uhhuh. Implications for disney stock, i think just shy of 100. If they can get directly with the consumer on a more regular basis, just good for any media player. Whether its network or disney. I think thats a real positive, judge, and if they want to offer that skinny bundle, as long as their contracts with the Cable Networks let them do that, they should do it, everybody should. I dont think its an espn story anymore. Go back a year ago, people were first worried about the espnews, subscriber accounts. What is it . Thats why stock went from a 22 multiple to a 15 times multiple today. Youre supposed to Pay Attention to the studios. Whether the animate series like findy dory, whether its star wars, marvel. A huge studio franchise where the earnings pow letter come from for disney. Seems more experimental than somebody that could move the needle to me. Smart to experiment, when you look at what properties are involved, nobody wants a skinny package. Right. I dont think its going to be a mass market thing. I think its just smart for them to see what they can play with and maybe figure things out. Heres the thing. Jim hits on an interesting topic. Should you view disney as an investor by svirtue of the studo or espn . When you look at their forget the niceties, you can discuss and debate this. Getting my haymaker ready. Look at the liabilities of espn. Theyve paid out many years for all of this content. The question is, if they now go back to their consumers, what do the cable companies, what will they say . Its Live Entertainment people want to pay for. I agree. They have to experiment in this way. Way. Right. I dont think theyre going to get it right right away. Could it be an option to buy it now . I think youre going to get it a little cheaper, but value on the studio, great value there. This is the uncertain part that could cause more uncertainty for the valuation. What if theres more pain for espn . Youre saying does it matter . Thats exactly what im saying. Because the market doesnt agree with you. No, i think the market does agree with me that for the last year the stock has come down from the 120s to the 90s, and its based here over the last year. Obviously theres been some variation but its really been in the high 90s for most of the last year. Thats been the market getting comfortable with whats going on with espn. But in that period of time disney has knocked it out of the park with the studio, the very thing youre talking about. And the stock went from 120 to 90 or whatever. But my point is, scott, its taken that long for the market to get comfortable with espn not being the growth driver it was or was assumed to be two years ago. And now i think the market is fully comfortable with that. I dont expect espn to move the needle for disney one way or the other, but i do expect the studio to. Talking Going Forward. I hear you. Appreciate you making your case. Coming up on Halftime Report, more friday trades. But we mean so much more. We mean how cawe help . We mean what can we do . We mean its our turn. To do r part. To serve you, for all youve done to serve us. Thank you. Ordering chinese food is a very predictable experience. I order b14. I get b14. No surprises. Buying business internet, on the other hand, can be a roller coaster White Knuckle thrill ride. Youre promised one speed. But do you consistently get it . Yyou do with comcast business. Its reliable. Just like kung pao fish. Thank you, ping. Reliably fast internet starts at 59. 95 a month. Comcast business. Built for business. Lets show you the leaderboard now in our halftime portfolio competition. Jim leebenthal is in firs place. Jon najarian, joe and we have some trades being made today. Josh. You see im threatening to go green right there. Yes, you are. Yes, you are. Maybe today. You got a big second half of the year coming. What are you doing today . I sold i bought toro, trying to corner the market in lawn mowers. Look, this is a textbook breakout. Stock looks incredible. Its involved in a lot more than the riding mowers. Thats what theyre known for. But all kinds of maintenance and other surrounding businesses. And i think the stock goes to 100. Jimmy, you didnt already own General Motors . Because youve certainly made the case for that stock more times than i can remember. I have to say its a repeat in the portfolio. I owned it earlier and i sold it earlier this year. But i put both gm and citi group in. I actually did it yesterday, scott. I thought the tea leaves were clearly indicating a blowout jobs report, and i wanted to get some cyclicals in there. Obviously gm is responding very well. Citi group, financials weve talked about so long theyve all been beaten down to the point where any good news like a jobs report today should lift those stocks higher. I love it. Both jon and jim not resting near the top. Doc, youre making moves as well. Yeah, took some profits on u. S. Steel, judge. And sofun, and added hologic. You can follow all the action go to cnbc. Com pro. Three hours left in the trading day. Were going to take a quick break. On the other side were going to set you up for the first week of earnings and a big one it is with the banks. 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Sleep number beds with Sleepiq Technology give you the knowledge to adjust for the best sleep ever. Its the final days of the lowest prices of the season sale, with the our best buy rated c2 Queen Mattress now only 699. 99. Ow better sleep. Only at a sleep number store. All right. Were goipg to get you set up for final trades in just a moment. But first, we want to bid ado to someone special around here, there she is. Our executive producer, lydia, its her last day on the show. We want to wish her the very best. Shes going to head off and pursue a new and exciting schei challenge. Were going to miss her drive and determination. Shes helped make the show the destination it is for many of you at noon. Were grateful for that. We wish you nothing but the best. We know youre going to be a great success. You better keep in touch. Thank you, lydia. Thank you. All that, second. All right. So lets talk about [ applause ] a lot of applause around the newsroom. J. P. Morgan, i know its not the start, alcoa kicks it off, lets talk about thursday. J. P. Morgan, what do we expect . Not much, right . No. Bond yields have been in the tank. Right. Youre really not. I think the only thing for j. P. Morgan and citi group is youre looking to see if they have in insight they want to give us as far as whats going on in europe and the uk. Thats the only thing im watching for there is what theyre saying forward. You just added citi. I did. But again, that was very much a macro call. That was my way of saying i thought the tea leaves were saying were going to have a good jobs report. I wanted some names that could outperform today, and they are. What do you think . Banks, j. P. Morgan, citi, wells, thursday, friday. People talking about what the Housing Market is doing, lending market, are you seeing cracks in credit. All right. Guys, have a great weekend. Lyd, were going to miss you. Welcome to power lunch. Happy friday. Im melissa lee along with michelle carusocabrera, tyler mathisen. Brian is off today. Strong jobs report and strong rally on our hands today. Major averages in fact back above their prebrexit levels. Take a look at where we stand right now in the markets dow is higher by more than 1 . As for the s p 500 this is very important, were just about half a percent from our highs here up 1. 25 with strength in leadership and materials as well as financials today. And the nasdaq the best gainer of the three up 1. 4 . Todays rally putting all the majorve