Still positive on stocks and short bonds. Tepper telling me of the markets, quote, any comparison to past overheated markets are ridiculous look at where multiples and rates were in 1999 im not saying stocks are screaming cheap, but youre nowhere near an overheated market, he said. Tepper calling his short of bonds a hedge, a trade that is not working now, but that hopefully will tepper citing strong Global Growth and low bond yields as two of the principle reasons he sees more opportunity ahead in stocks telling me, quote, because world growth will continue to be good, earnings will be better and stocks are relatively cheap to Interest Rates asked where rates would begin to become concerning for him, tepper telling me, if rates go up a lot, the market would have trouble with that, but 50 basis points is not going to make a difference, he said. I asked him about his portfolio, his 13f revealing yet that he continues to like tech tepper owning positions in names like alibaba, afl belphabet and facebook, which he added two over the past few months tepper saying he still owns all of those stocks, saying the multiples are still low. They just look cheaper than any other part of the market, even though theyve moved he also like micron and Western Digital telling me he still owns them quote, the market got too negative on those names. There can be incredible increases in dram and flash capacity asked about the risks that david pepper sees, he sees north korea as the principle one, noting that it might not go away, but as long as the risks get tamped down and dont hurt the economy, his view remains upbeat on stocks hearing from a gundlach, hearing from a howard marks, a cooperman, and now you hear from one of the greatest investors of all time, david tepper so as i take a look at it, i think daves record is better than any of them hes more crossasset than anybody else, or he looks through that lens, while Jeff Gundlach does go crossasset, primarily. Hes a bond guy. Primarily, howard marks is the stress guy dave is laooking across the world, and its consistent with the view that hes had for a while now. And if you go out, because weve talked about this at length, he and i, as you go out and look at a facebook or look at an alibaba and look at their growth rates and youre going to have two to three years, theyre extraordinarily inexpensive. So, so, yeah, so its a consistent view. I think his equity portfolio, based upon that, should do quite well this year and bonds are still historically low. So its a short that can hurt, but it is a nice hedge he was adamant, too, that if you look at where things were in 1999, both from a Global Growth standpoint, both from an Interest Rate standpoint, that theres absolutely no comparison to 1999 and today. And even as some take a look at say, where, the big and most Popular Technology stocks are today, even though they moved, he said, yeah, but theyre still opportunistic, because of the growth that weiss suggested is ahead. And their multiples are not outrageous and no disrespect to howard marks or Jeffrey Gundlach or anyone else, lee cooperman, who have offered an opinion on the markets. But these are the most relevant comments i have heard about the market i think one of the things thats really fascinating if you think back to the monday before the election, its pretty obvious he wasnt a fan of the president. There is nothing in the commentary right now about the administration thats why hes legendary. Because hes able to remove himself from a narrative or a predetermined bias and look at the world as it is earnings, the things we talk about on thedesk, earnings, Global Growth, and a market that over the last week sold off, came back quickly, and is giving the paerappearance right now, s, go back into those fang names once again i wouldnt use the word that hes a raging bull on the stock market by any stretch of the imagination, but he is pretty bullish on what the Global Growth picture, doc, looks like today, certainly relative to past periods but he is positive on where the u. S. And the rest of the world seems to be growing. I am, as well we said it the day after that huge decline, last week, judge, that that created some opportunity. Not as large as, for instance, after Election Night and after brexit and things like that. But nonetheless, it was an opportunity. And the volatility was so extended and so forth, i think mr. Tepper is just as steve said, and theyre good friends, a very wise investor and hes looking across those asset classes. Bonds, i dont think they go very far from here, judge. And you know, for months now, weve collectively on the desk been saying that high end for bonds, maybe you get to 260 this year maybe. I dont know if we can even sustain it at that level, depending on what goes on the ecb. So kevin oleary, what do you make of the comments from david tepper youre a little more cautious based on our play in volatility lately you want to rethink it no, the tepper call is on credit and tepper is a credit guy no, thats wrong, kevin empathies kevin, im going to disagree with you he started as a stress guy the portion of his equity portfolio dwarfs thats exactly my point heres the point i want to make. People forget that a credit is senior to the equity of a company. And if youre willing to take the risk of owning a credit, youre doing so with the understanding that in a stress situation, youre senior so every single shareholder so in some ways, credit to me is the same as equity. The majority of companies that issue credit are lowgrowth, and in many cases, industrial, or in the energy sector, and when youre getting negative about it, its because the overall sector doesnt produce much i want to read you again what he said. Im going to quote, any comparison to past overheated markets are ridiculous look at where multiples and rates were in 1999 im not saying stocks are screaming cheap, but youre nowhere near an overheated market hes talking about the stock market i understand that, but if you look at what hes done in the past, at least i dont know what his strategies are day to day, this is a guy that he has a lot of respect for, because he looks at the senior debt or credit of a company and makes a call based on that. Hes taking far more risk, because in many cases, theres no liquidity there kevin, i know you guys dont know each other that well, and ive got tremendous respect for you, but thats just not true. What makes dave the best investor that ever has been is that he goes where the pucks going to go. He finds the opportunity for example, on airlines, at one point, he owned 5 , as much as he could, of the equity of each airline, when they were selling at one times earnings. The banks, he owned the banks. So if theres money to be made in equities, hes going there. If money is the to be made in distress, hes going there thats what differs, frankly, from a gundlach or from a howard marcus, where theyre looking at frit a credit standpoint, which is differently, you know, not that they cant have an educated view i understand. I understand your point. My point is its a mistake but when youre shorting as a credit investor, only but when you start shorting when you short debt, you start shorting bonds, when the range has been 2. 2 to 2. 6, youre basically making a call its interesting to say youre bullish stocks and then you short debt at the end of the day, if theres enhanced Economic Activity and companies are able to have price inflation, wage inflation, because rates are going up, and youre short bonds, you are bullish i agree with you but at the end of the day, the credit and my point is look at tesla hes shorting bonds as a hedge. And would be the first to say, it hasnt worked yet, but im hopeful that it will but its a heckldge. I get it. I am not shorting bonds, because having done it for almost seven years, i have never been rewarded and i have to carry the negative interest 2. 2 to 2. 6 on the tenyear i dont like tlahe trade i think we were having this debate about volatility only six weeks ago and the vsx became the number one return in my portfolio in a 48hour period. Every time that happens, its because we trace back to 2. 2 on the tenyear theres an underlying noise out there and a debate going on between tepper and every other manager in what the next direction is the fact that volatility is returning tells you nothing is assured. And buying a little insurance is not a bad thing at this point. So thats the argument im making so pete, when you look at, like, mr. Tepper does, alphabet, alibaba, and facebook and says, quote, the multiples are still l low, they just look cheaper than any other part of the market, even though theyve moved. People are absolutely sort of looking at the move that the f. A. N. G. Stocks have had theyve been the place to be tepper obviously thinks that theyre going to continue to work do you yeah, i do. Theres no reason when i look at the growth what we just came out of, we talk about it all the time facts and fundamentals the story coming out of earnings on facebook, across the board into google, was nothing but strong youre still seeing that growth. And its interesting, because most of what tepper is picking out here, hes looking at valuations, clearly. When you look at he mentions micron look at the valuation of that. Single digits. Western digital, Single Digits facebook, because of growth. Hes willing to actually expand up a little bbttle bit more in e p es i stood on the Trading Floor in 1999 when we saw these overheated markets this is nothing like that. With cisco trading at a 90 p e versus cisco trading now, this is a different environment and weve got an environment where there is extreme growth and some of the valuations are stretched. Not everything is cheap, but theres a lot of great opportunities. For one second, lets talk about the facts of what has actually happened here over the last week. Where is apple today where is apple and what has it done over the last week. Pete helped me out tremendously. I had the puts on. We put the other side on and brought the apple. You have nvidia, you have apple, they have all come back strongly over the last weak this h this has been a growth f. A. N. G. Strategy i heard so many talking about, move away from it, get out of it, it looks like to me today were actually resurrecting that momentum once again. According to a bank of america fund survey, a record high of respondents say equity markets are overvalued and youve got a great investor like david tepper almost scoffing at a notion like that, relative to where growth is, where earnings are, and where rates are. You know, if you take a look going back to what pete was talking about, nobody thought it was overvalued whatd the nasdaq peak at, like 200 times p e. People are leaving their jobs to work at these companies that havent made money, that will never make money its good to have that touch of realism there, because you want some not to use a trite phrase again, some wall of worry. Once everybody is in full agreement, thats when you get the decline. Last week, everybody started to get concerned, the volatility came back, kevin made a lot of money, gundlach made money on the greatest conviction he had right then was a pop in volatility but here we are, with a stay the course kind of a point of view, right . Thing are good, realize how good they possibly could be, relative to growth rates being where they are and earnings improving to the level that they are. And dont get out too early. Well, the other issue even with the risks that the other issue that joe points out, theres nothing about politics in there. Heres whats interesting. I look before, which where the market did the best under what president s. I think it would be fair to say that under obamas regime, it was impressive to business there was nothing getting done yet that far outperformed reagans markets clinton outperformed reagans markets. How much can a president actually impact it my feeling is, from the conversation we actually had, i dont think its a stretch to say we had Great Expectations nobody has any. For the white house or whats happening thats a potential upside hes really not changing his world view on where the markets are. Hes got visibility, hes got clarity on Global Growth and on earnings, which continue to be good we talked about last week, look, last week was a trading opportunity. Kevin made a lot of money in the vix, thats a derivative strategy Jeffrey Gundlach, vix. Pete and john talking about options that fully rewarded those that listened. This week, thats a derivative strategy overall, i dont think you made any draurmatic changes last wee, you shouldnt have based on the fundamentals but the noise, kevin oleary, got a lot louder last week and we had a great start to this week now were reminded by david tepper sort of where we are in the real world and it doesnt sort of change your point of view on where we are . You wouldnt lighten up your caution. No, my thesis is this every time we have a shock to the system, like a 40 move in the vsx, which is a derivative, but gives you an understanding that is a pentup concern about volatility my theory is, and i could be wrong, it will not go back to the new lows it is a noise coming into the universe that will increasingly get noisier. If youre taking a position and using a derivative like the vsx to protect your portfolio. And i agree, protecting portfolios and insuring them are very expensive but heres a way, and there are many other ways, but my point is, the noise in the universe will continue to rise, because at this point, the majority of the gains in the indices have been made for this year. This is my opinion so were going to see more volatility into the back end of the year and i am not willing to throw out the potential of a true move into tax reform that should appear until q1 or 2 in my opinion, the best place to be will be in the russell 2000 which did not participate at all in the increases but they will get the best benefit of more cash fllotheash. Im going there. Im an optimist about the president s agenda on tax. Nothing else has been done, but i think tax is a bipartisan issue and i think were going to get some action in the next 60 to 90 days on this i dont know if anything is a bipartisan issue these days in d. C. , but your point is welltaken do you agree with what he said i agree with the call on small caps certainly, the russell has been a place where you have not seen the performance relative to other areas of the market. If you get a higher dollar, certainly, the russell, and tax reform like kevin is suggesting, thats a great place to be but i would not look past the forgotten fang for a second, and understand what were seeing here in the last week, when you look at names like nvidia and the names ive mentioned before, eventually, even a google or an amazon might come back again those have been relatively depressed since earnings dollar hasnt been this week, judge i mean, it is so oversold right now and as we discussed yesterday, we get any kind of move with the ecb, and i think our dollar starts o gain strength very quickly, after this oversold condition. I agree and i think thats why you sort of have to favor the s p for now, because 40 , 50 come from International Earnings if that does change, with tax, and theres zero expectation from anybody that i talk to, aside from kevin, that anything will happen. Thats a potential upside. So you look there. However, if youre the leastbit cautious on the market, history tells us that small caps lead you up, and small caps lead you down people were worried about the lack of participation from small caps and from that should be the tell, though if youre bearish, go back to dow theory, go back to anything and look at it and say, small caps, transportations are confirming youve got to be worried. I dont think that matters now i think those are old days, not current days hey, kevin, good to have you, thanks for being here. Take care thanks all right well see you back here soon up next on half, trading todays retail wreck the earnings breakdown on the mixed result plus, the najarians are tracking options actions in the sector. Theyre bullish bets are coming up alimrertisacinwo minutes. Ritrade trader offices. Steve, other than making me move stuff, what are you working on . Let me show you. Okay. Our thinkorswim Trading Platform aggregates all the options data you need in one place and lets you visualize that information for any options series. Okay, cool. Hang on a second. You can even see the anticipated range of a stock expecting earnings. Impressive. Whats up, tim. See options data like never before. With thinkorswim only at td ameritrade. Whether its connecting one of or bringing wifi to 65,000 fans. Campuses. Businesses count on communication, and communication counts on centurylink. For years, centurylink has been promising fast internet to small businesses. But for many businesses, its out of reach. Why promise something you cant deliver . Comcast business is different. We deliver superfast internet with speeds of 250 megabits per second across our entire network, to more companies, in more locations, than centurylink. We do business where you do business. Welcome back to halftime u. S. Retail sales rising in july, the biggest gain in seven months however, this is doing little to help Retail Stocks today look at the names on your board. Coach getting hammered dicks sporting goods, as well home depot what is the deal tjx, that was like the outlier people have loved that stock coach, dicks sporting goods, even dpepot its getting sold off. Everyones talking about amazon. And the conversation over at cnbc for the last couple of days theyve beat and theyve raised thats exactly what im talking about. Weve seen this happen before. Unexplainable to me, but i think that creates the opportunity you put names on your list and look for opportunities this was 160, down to 155. Now here it is under 150 i think thats the opportunity at 23 times, maybe it was a little rich. But given the fact theyve got the growth rate theyve got, i think thats the best opportunity of the names youve we raised the point yesterday as to what in the world is going on with home depot it was a loved stock and yeartodate, granted, its up 11. 5 . But its done nothing recently nothing to show the love that people had for it before all i can imagine is that the marginal buy verse dissipaers h to get to the next level people have made so much, they think something is going on and and they want to book some profits and retails. To me, Service Surprising that the stock was done it was a great quarter i think more money would have come out of that the effect of amazon, though . When that amazon news broke, i think in late june, you saw home depot roll over and whirlpool the only one that stayed resilient, john and i talked about buying best buy at the time what about coach and dks . Horrendous. Coach, obviously, we see why they made that acquisition, because you have to grow through acquisition. Retail is still a troubled group. We had one theorist on the panel saying, its gratz youeat beca youll shrink these Department Stores and it will be better for all the others we see thats not the case you realize the stocks been cut in half this year. Yeah. Right, right coach has had a nice come back now, does this cause you to sort of question it takes a lot longer than the short amount of time theyve had to integrate kate spade into this, judge. In my opinion. I usually give them six months, farce the impact of no matter how accretive they say its going to be, it takes a while to integrate before you cut the people youre not going to need because of the overlap and so forth. I think you take a lot of charges in this first little bit after whats interesting, coach is your unusual activity today and theres a lot of call buying there is a lot of call buying and i was one of them. I was buying, judge, because somebody jumped in and bought 5,000 calls came down today after it came down today. November 45 calls. Take a look at that. Thats about 5,000 of those traded i jumped in, a number of other folks have been buying in here, too. They were basically trading judge, between 90 cents and 105, somewhere in that range nape bought them aggressively and sodium higher strikes against it i get that theyre cutting their exposure because of that. But i think this is the way you buy a stock thats, you know, the falling knife. You either need is a 10 move in a few months you need a teflon glove or you need options because youre risking 95 cents. Thats what i paid for these calls. 95 cents i like it a lot better on that risk than buying the stock in the 40s. Youve got lulu another retailer if you go back a decade or skpo look at what people are getting per square foot, now theyre getting 325. Lulu makes 1,500 a square foot from their stores. Theyre doing things right and competing well against amazon. A little more expensive that johns it gives you that potential for the upside this is a name ive been in multiple times a year ago from todays date, this stock was at 81, the 52week highs. It was down in the upper 40s about two months ago its moving to the upside. I agree with lulu that is like a miniexperience going those stores and theyre expanding in multiple different ways. Whether its in the mens category, which they think will be 25 of the revenue by 2020. Whether its ecommerce or childrens, all kinds of different areas and the markets. The highest quality product in my view and the price differential between a pair of nike shorts and lulu i would argue that lulu is cheaper when you buy with the compression shorts inside. So youve lost that. To me, lulu and theres that other guy who has replaced in dicks, second skin, i think they call it these are the guys who are eating a lot of the lunch of people like mr. Plank with compression clothing that is what a lot of the performance athletes want right now. Just ahead, were tracking more stocks on the move in the blitz. Well give you the trades of r corning, snap, wind, pandora, maybe a few more back after this. Your brain is an amazing thing. But as you get older, it naturally begins to change, causing a lack of sharpness, or even trouble with recall. Thankfully, the breakthrough in prevagen helps your brain and actually improves memory. The secret is an ingredient originally discovered. In jellyfish. In clinical trials, prevagen has been shown to improve shortterm memory. Prevagen. The name to remember. Times up, insufficient were on prenatal care. Es. And administrative paperwork. Your days of drowning people are numbered. Same goes for you, budget overruns. And rising costs, wipe that smile off your face. Were coming for you, too. For those who wont rest until the world is healthier, neither will we. Optum. How well gets done. The cnbc iq100, leading the Broader Market over one year up 17 . Some of todays leaders include bank of america, metlife and ci citigroup. Now back to the Halftime Report with scott wapner. Thats right we are back on halftime. I want to talk about a stock we mentioned at the top of the program, alibaba it has also been added to the select list at stifelweis. You bought more. So the stocks had a great run, right . We suggested on this Program Numerous time, its the bestperforming big cap tech stock nobodys talking about but now everybodys talking about it i bought more last week, i had gotten rid of some of my lower conviction names and added to the highquality names that got sold off it was baba and it was apple look, stocks cheap. Its primarily going to be at a discount because of governance issues and lack of transparency, because its a Chinese Company and the biggest fear is you wake up one day and wheres jack ma you know, whered he go . Hes hidden somewhere. Thats a concern having said that, with i dont think thats going to happen and theyre going to report, when we walk in thursday morning, theyll have a report, i think the chinese economy has been improving also. So i see, however, that as i was going through 13fs, so many big names are there. Whether its dan lobe or dave across the board, that doesnt mean we cant keep going up. Some Hedge Fund Hotels do well but when you take a look at some of those stories, whether its a valiant or an alta source or some of the others, there were issues with the Business Model ths that they were looking past and trying to change in some cases facebook had as many hedge funds in it as otherwise so i dont mind that a cheaper valuation of an amazon with web services under an 80 price target 15 upside from here at least. At least all right sue herrera has the latest headlines for us hi, scott indeed, i do heres whats happening at this hour, everyone another resignation from the president S Manufacturing council. Scott paul, the head of the alliance for American Manufacturing says hes leaving the council, because it is the right thing to do. He joins the ceos of merck, under armour, and intel in resigning from that grew north Korean State News Agency says that kim jongun has reviewed a previously announced plan to fire four missiles towards guam, but decided not to go ahead with that proposal, for now. It says kim is opting to wait and see what the u. S. Does next. Joseph dunceford and his chinese counterpart signing an agreement in beijing to work towards improving communications between the two countries. I think we have to be honest, we had many, many difficult issues where we dont necessarily share the same perspective. But from our meetings in washington, d. C. And from the very productive meeting we just completed, i know we share one thing. We share a commitment to work through these difficult issues and youre up to date thats the news update this hour Brian Sullivan has whats coming up on power lunch. Sue, thank. Coming up, a Record Number of Fund Managers think the stock market may be overvalued but as david tepper told scott, he says, its not. Whos right . Well debate plus, vegan nails, avocado smoothies, and the assault room. Well speak with the president of saks about their new offerings to try to bring people into the stores. And take out targets one analyst naming his top five Semiconductor Stocks well name those names much more ahead on power lunch well see you guys in just a bit. Up next, the trader blitz. But first, lets give you a check on the dow the dow is up 7. 5 points american express, the best performer out of the dow today were back after this. Were drowning in information. Where, in all of this, is the stuff that matters . The stakes are so high, your finances, your future. How do you solve this . You dont. You partner with a firm that advises governments and the fortune 500, and, can deliver insight person to person, on what matters to you. Morgan stanley. Walter . Hmm . Is that the rest of our food . What . No. How come you have cheese in your beard . Because switching to geico could save you 15 or more on Car Insurance. Oh ok. Geico. Because saving 15 or more on Car Insurance is always a great answer. Whoa gross and im an arborist with ipg e in the sierras. The drought in california has killed trees on a massive scale. Any of those trees that fail into power lines could cause a wildfire or a power outage. Public safety is the main goal of our program. Thats why were out removing these hundreds of thousands of hazard trees. Having tools and Technology Gives us a huge edge to identify hazard trees. My hope is that the work were performing allows that these forests can be sustained and enjoyed by the community in the future. Together, were building a better california. Welcome back to the half Julia Boorstin has the market flash for us were seeing the Movie Theater chains, their stocks moved lower after the announcement that movie pass, the fee has been lowered to 10 a month. Movie pass is like a Monthly Subscription service for Movie Theater chains that if you pay a monthly fee, you can get tickets to access theaters including at amc entertainment, regan, and cinemark now you see those stocks move lowered. And this has now been lowered to 9. 95 monthly fee. The previous pricing plan had been from 15 to have nearly 50 a month. So now making it much less expensive to have this subscription access to Movie Theaters this comes to a summer where the box office is down the total u. S. Box office this summer is down over 12 . The Movie Theater chains have already been suffering julia, thank you so much. Throw up shares of netflix, which seems to be moving a bit on this news, as well. Do we have netflix in the back i dont know if youre invested into Movie Theater chains or not. Nope. Not a massive move, obviously, but maybe feeling a little bit of the news that julia was just bringing us these passes like this arent necessarily the end of the world for theaters, though, judge. Theyre making their money on the popcorn at 8 and 10 on slices of pizza, hot dogs, all the rest anything that you sell at the counter is where they really make their money but it already has been a sort of questionable Summer Season for the movies. And for the theaters youre talking about an industry thats in a secular decline. You want to pay 10 for a popcorn, youve got to have the people to come in and want to experience that to buy the popcorn. Thats the problem and youre right to point out netflix. Thats the grand chabnnel for al of it. Im surprised you have not seen significant activism in this space. Through its consolidation or coming in and trying to recreate the specious, something needs to be done, it is in a secular decline. Its like buffalo wild wings. Youve got to get attendance up and they cant control that if the film speculate is as polates its been. Lets do the trader blitz corning was downgraded to sell at Goldman Sachs do you want to take a look at that one goldmans price target, from 29 down to 26. Said supply chain said oversupply, basically, is one of the things driving the stock lower. And the fact that a lot of the lcd, the screens for those tvs are just not being ordered in big numbers anymore. Weiss, what do you make of this snap upgrade overweight at cantor youve been selling your puts today. Well, i was selling them before today and i got cute with the price yesterday. Should have done a shout out a lifeline to the nah jajarian brothers for the right price i have a small position left usually you do. Absolutely, i do. January 2018s, 20s. Try to get a nice trade out of it and it doesnt work the bottom line is the company is going in the wrong direction, thats the fundamentals. Im comfortable staying short it the main thing theyre talking about, the acceleration in terms of the win palace but the same analyst raised the earnings going out 2017, 2018, lifting those numbers up pretty high when you look at that, and i agree with that, we talk about unusual activity, not too many people in front of that board. I dont think anyone is out of close for reach for that stock new ceo for pandora i keep getting this stock i think its a reminder of how much money i lost today. I was this in name 13, 14, i thought it was going to 17 or 18. Clearly, that has not happened its wallowing between 8 and 9 some significant changes need to be made for this company the last reported earnings, okay guidance was all right revenue up 10 but they knead need to really gh subscriber base. Up next, Consumer Staples underperforming the Broader Markets. Well break down the winners and losers first, an s p sector check there you go s p is flat. Halftime back after this you always pay your insurance on time. Tap one little bumper, and up go your rates. What good is having insurance if you get punished for using it . News flash nobodys perfect. For drivers with accident forgiveness, Liberty Mutual wont raise your rates due to your first accident. Switch and you could save 782 on home and auto insurance. Call for a free quote today. Liberty stands with you™ Liberty Mutual insurance. Finding the best hotel price is whoooo. Now a safe bet. Because tripadvisor searches. Over 200 booking sites so you save up to 30 on the. Hotelock it in. Tripadvisor. Welcome back to halftime. Consumer staples underperforming the s p today. Landon dowdy is breaking down the winners and losers at the wall today hey, landon. Thats right, Consumer Staples havent kept up with the overall market, up about 7 compared to the s p, up 10 . But there are some clear winners and losers here. So whats winning yeartodate well, whole foods taking the top spot, up 36 on the heels of a 14 billion offer from amazon. Estee lauder, up 32 Constellation Brands, up 28 and wells fargos bonnie herzog, who covers both firms, attributes lauders Strong Performance to growth in china and retail performance constellation benefiting from persistent Strong Performance with its two core brands but while grocer whole foods is running pretty high on amazon acquisition, others like kroger dont have others quite as hungry the stock has tanked 32 yeartodate attributing the decline to food deflation and pricing pressures. Conagra sliding 11 as the firm faces weaker sales strengths and as consumers change their eating habits scott welcome back over you. Pete, you own a lot of thaez stocks, even though we dont talk about them all that often pepsi, coke, look at some of these names. Procter gamble keeps moving to the upside we see option paper consistently thats one of those names, its a scary name, procter gamble, because its so stretched. Look at the valuation, youre like, i cant do that. Pepsi, coke, and you can turn those into buy rights. Create something across the dividend yield youre already getting. And the fact that both of them needed something else, they needed to get themselves out of just the carbonated world and theyve done that in a big way and done a really good job with that Constellation Brands would be the one i go after its a huge winner. Its beer and wine. And its not the highest end, its not the bad stuff, either, ca casa noble and some decent tequilas arepart of this brand i like what theyre doing and all of us collectively the the consumption level is pretty high. Is that where youre going . Thats where im taking i was going through my emails and lacki inglooking fo heads up about these stocks. I dont see it its not a sector im involved in i have been involved in the past, because the top line is not growing that much. I think the valuation is a product of the market rather than a valuation of the companies. Kudos to you guys. Thanks for the heads up. Stamos in general broadly and coke, specifically. I think we talk a lot about emerging markets on this show. And i think its important not to have country exposure, but country exposure and two names that stand out, drk diaggio, and nestle, thats another name that has worked really well. Make sure on the consumer staple an activist in it, by the way. And with that consumer staple theme, make sure you go beyond the u. S. You mentioned, joe, apple earlier, asking rhetorically, whats apple doing its hitting an alltime high, right . It is it is. And not being mentioned every day well, listen. And were going to go back and talk about this. We were at the Stock Exchange last week. I had a qqq put position on, that gentleman over there completely bailed me out, because he walked me into the august 25 calls on apple and that literal slave esaved t entire position. I can tell you from watching the options in apple, it has been incredible, the amount of buying interest and clearly that people use the pullback on the correction as an opportunity to get in it looks to me like institutional buying i dont think its retail buying, but it is significant. Almost 162 bucks, guys. It is definitely institutional buying the buying were seeing is massive. That is not just mom and pop retail coming in there, taking shots on apple but the story has not changed for apple. Even when it sold off. You look at it and think, it comes off five or six or eight or ten bucks and look at it and think, which has really changed in this story. Creates opportunity all the time as youre getting closer to the launch in september, expect to see the stock or october. Could be delayed. Could be, but the point is that clearly doesnt make a difference to investors, right as long as they know its happening although this watch without having to be connected with the phone, thats a big plus, youre in the grace period where the quarter doesnt matter and you know, this quarter, it just doesnt matter at all so what kind own it . Theyre bidding it up again alltime high for shares of apple. Speaking of moving higher, the dollar is, well head to the future pits next and your earnings game plans on the companies who haveeto y t rural rou report this week, including target, cisco, deere and more. Halftimes back right after this because, when you really, really want to be there, but you cant. At cognizant, were helping todays leading Media Companies create more immersive ways to experience entertainment with new Digital Systems and technologies. Get ready, because were helping leading companies see it and see it throughwith digital. Were back watching the u. S. Dollar index rising to a threeweek high. Crew for more on that jackie. Good afternoon. The green back getting a little boost today from better than expected Economic Data this morning. Jeff, we did see the dollar react to the strong retail sales but what else is contributing to the strength were seeing today. It was nice to see tick above 94 in the u. S. Dollar it was a onetwo punch stronger than expected data it takes a temperature of 200 manufacturers in the state of new york, thats the strongest its been in two years the second quota with a fred dudley, he talked about he expects one more rate hike thats that stark contrast to the cme fed watch tool lastly, jackly, lets look tomorrow well comb over fmoc minutes we want to understand thats going to determine the direction of the dollar what were saying about reducing the Balance Sheet which is imminent. Looking at the charts, the Technical Levels youre watching, 93 and change, were relatively low. Thats right, jackie. When you look at the chart, 92. 5, 92. 60. We built a nice base there now were above the 21day moving average above 93. So technically the dollar looks like it has turned around a bit. I think retail sales number will go a long way in driving the market thats been the laggard as far as the recovery goes, retail sales. Meantime, futures now, well be breaking down trade ideas for crude oil and gold and joined by bill stone to discuss why even a Market Correction wouldnt be a warning sign to flee stocks. Back to you, scott. Thanks so much. Three hours until the close that means final trades are coming up next on halftime. Up 8 points, still above 22,000, all be it, barely. This is where i trade andrs. 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. Hey dad, come meet the new guy. The new guy . What new guy . I hired some help. He really knows his wine. This is the new guy . Hello, my name is watson. You know wine, huh . I know that you should check vineyard block 12. Block 12 . My analysis of satellite imagery shows it would benefit from decreased irrigation. I was wondering about that. Easy boy. Nice doggy. What do you think . Not bad. I still like walmart. Target i wouldnt throw i know that pete is friends with the ceo and likes that company but i love walmart because of jet acquisition and others. The jet acquisition is why you want to like walmart that has helped them be in the cart guy of being able to compete with amazon. I agree with these guys from earlier, best buy is going right after him. Has been for years and is winning against amazon so it can be done. Its just about the commitment. What do you feel about foot locker knowing what you know about dicks sporting guys and nike and amazon and Everything Else going on in that space . For me, i know how expensive it is, karen was just talking about it the other day it is very inexpensive however, its amazing because that is a stock that very difficult to compete in the amazon world. Certainly is getting more inexpensive today. Yeah. And it was inexpensive before the last quarter i used to be bullish on it i see no point to roll the dice on these names. I did notice estee lauder was on the list and that was on a list of staple stocks that have done well. Jim was doing channel checks so im going to defer to him on that. 32 year to date. Lets do find trades in the time we have left. That was moving along well leave it to weiss to kill a segment. Hes consistent good thing we didnt get to l brands go ahead. I think what you want to do, look at equity names and how they perform last week relative to the i like facebook to resume higher. I think it continues with apple and im sticking with that if it sells off, ill buy more. Big fan boy there. Remember the passion i dont understand the whole thing. I hear you. He had hate, no doubt about that. He likes money though. Youre right about that. Let me quote kevin oleary, the only thing i see is green. You like money. I like money. Mow sayic, judge. Stocks you do that well. The stock is slammed, i like it to rebound from here. Upside call buying you started the segment in retail ill go back to it j. C. Penney, 50,000 of the puts, somebody feels theres nor downside. That does it for us power starts now. Welcome to power lunch. Nine out of ten doctors recommend power lunch for your daily fix. Heres whats on the menu, folks, three ceos quit president trumpS Manufacturing council and another key executive has dropped out. Is this the beginning of an exodus, what will it mean for getting mr. Trumps cheeconomic agenda off the ground . The chip sector up 20 , stocks could be ripe for a take over. Sat rooms,ness
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