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Transcripts For CNBC Power Lunch 20140623

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A driverless car. One could be on your screen within six months. Simon is joining me today. On friday we hit fresh alltime highs, taking a bit of a breather so far, today at least, as we embark on the afternoon session. Its interesting, of course, the s p 500 is up about 6 year to date underperforming, the dow is up about 2 . One of the major reasons to that is 23 of the dow 30 stocks have hit 52week highs, seven have not. So are they now poised to catch up . And can you make money from them . Dom chu is on the case. So, simon, yeah, those seven stocks have not made 52week highs so far, but we looked at them to see what the stars are. Is there a way to help thing out . Because all seven of them, none have gained value since the dow first 4i9 16,000 back in november of last year. Number seven here, which is nike, year to day shares are still down 4. 5 . Theres concern right now. Obvious lir the world cup is kicking out of. Adidas versus nike, but for nike shares they have been a laggard. Number six is general electric. Theyre trying to by for Energy Assets in france, now the question is, did they pay too much . This stock is still down, and its down from the last time dow hit 16,000. Walmart, these shares have been a big laggard for the dow ever since the dow hit 16,000, and continue to be laggards so far this year down 34 , despite the fact that the dow is still making record highs. You can see there ibm, those shares have been the single biggest drag on the dow for quite some time. The reason why theyre one of the most heavily weighted stocks in the dow. Theyre still down 3 year to date. Number two is procter gamble, the Consumer Products giant and theres a concern here that perhaps some staples stocks may not be doing so well. Number one is an interesting one here. You dont often think about it as one of the best performers, verizon again im sorry i lost track. Number two is verizon. Number one, and this is the one i really want to get to, because it tells an interesting story. Cisco systems, a stock you dont think about as leading the dow higher, one of the best performers, up about 15 just over the last three ponce. Gin these a stock thats been doing great. The question becomes whether or not it can continue the next leg higher. Remember, the only run is that with cisco, microsoft, intel, theyre lower priced stocks. Even if they dont great, they dont have an much of an impact on the overall index. Dom, thank you. How should you play those seven stocks . Kristina hooper is at alliance. If you look at each of the individual names, i think whats going on here for a lot of them are fundamental stories, whether its with walmart or nikes. There are fundamental reasons why ibm is sort of doing poorly. By the same token, i think cisco did poorly last year, has given investors more confidence on the ability to transition and perhaps thats why its doing so well. For some of the other companies, there are fundamental reasons that are driving the underperformance. I know you dont talk individual stocks, but i do like the large cap. If a stock has been lagging in underperforming, but its a large cap, would that fit your criteria . Absolutely. A lot has to do with the investment time horizon. They should have adequate exposure to large caps. It looks like small caps will continue to outperform this year, and thats largely because of Monetary Policy back drop, but at a certain point, that will go away, the fed will become less accommodative, and the investing landscape may return to a more normal environment. Weigh in on why the individual investor still seems to be favoring fixed income versus going into the equity side of the equation. I think if you look at the equity market i would disagree with the last speaker. I think actually if you look at the russell 2000, the average stock is down i really do believe that as the u. S. Economy continues to pick up steam and Interest Rates move higher, the smaller and mid caps will start to gain on the larger cap for the better economy with the better economic improving. I do think, though, for the average investor, since 2008, theres just been almost posttraumatic stress disorder, so bonds and bondlike equities have been the source of funds. A lot of that has been helped by quantitative easing. They accumulated nearly a trillion of mortgages and treasuries, and theres a whole bunch of securities that get priced off that. The problem is the fed is pulling back. As the economy improves, that yield curve will move higher, then there would be a shift in money, but right now if you look at the utilities up 16 this year, that should be a source of funds in terms of. Are you worried about the scenario . There are something who think rates may move too far too fast. Were certainly concerned about the Interest Rate scenario, from the perspective that the fed has monl moved the goal post, but changed it when it comes to a trigger for raising the fed funds rate. Now its a mosaic, so that does create a level of confusion in the marketplace, and there are those thinking that inflation could hasten the feds reaction, and could hasting the rise in rates, and there are those that believe Something Like housing could be something that post ponce the feds raising of rates. So there are a lot of questions out there, theres a lot of confusion, and that only adds to the environment right now, but recently we have seen those bigcap names start to underperform. That is likely because of the feds more dovish comments that its made, certainly more dovish than expectations recently. All right. We have to leave it there. Thank you both very much. Weve been talking about big caps. Were going to ask you about a big cap coming up. Its ibm, the stock is down 7 in a year, down 5 in just two months. Do you think big blue is a good stock to buy at these levels. . You can go vote at cnbc. Com vote, and well give you the results. A bad situation may be getting much worse in the middle east. Michelle carusocabrera is our chief international correspondent. She just literally got off the plane from northern iraq. Shes back with us. And theres more to tell you about. John kerry arriving in besieged iraq today to meet with nuri al malaki, as they talk more are falling to the Al Qaedalinked sunni group, and moving closer to baghdad. Take a look at your screen. This is a border checkpoint between iraq and jordan. Intelligence sources say sunni tribes this seized control of that border after armies pulled out of the area. This video presumably shot by the sunni rebels. It could not be immediately authenticated. They have vowed to kill king abdullah, the leader of jordan. Yesterday an antitank missile hit a water truck killing a 13 years old bon. The Israeli Air Force struck back hitting targets on the sir yarn side of the border. Hamas is vowing a third intefad intefadah. Sue, back to you. Sue, thank you very much. Given what michelle just laid out, how should the oil market react . Peter, you know, michelle just laid out a very compelling case that normally would put oil higher, but you think it may by going lower, why . I think a lot of the fear has subsided. As far as the ports in basra go, they have always been secure and they are secure right now. I think thats starting to simp into the market a bit. The brent wti spread started out around 5 when it first started. Its moved out to almost 10, and weve had a pretty good run in the brent, in the products, and it only makes sense that now that some of the fear has subsided that it quieted up like that. So whats your targets near term for oil . Theres no real target to the up side. It just depends on how the news comes out and if these ports are affected. Peter, thank you very much. Youre welcome. Over to dominic chu for a mark flash. Utility stocks are the single worstperforming sector in the s p 500. Despite a huge boost from integris, the sector is down about 0. 7 . Its siring on the latest m a move of the summer, so simon, utilities down big, but at least one stock with a nice day. Dom, thank you, another day of key housing data is out. Existing home sales posting big gains. Diana . Reporter home sales took a larger than expected bump up. That was just because there was so much more on sale on the market, the trend is continuing. You could see this neighborhood in northwest d. C. Was positively littered with open houses. Inventory bumped up 6 from a year ago, which also helped to ease those price gains we have been seeing. Thats the slowest jump since march of 2012. The sales gains, though, were not seen nationally the sales way up in the midwest, possibly that pentup demand from the bad winter, but in the west sales were barely up 1 , and were down 11 from a year ago. Now, realtors reported a drop in distressed sales, the lowest level since the realtors began tracking this number, just 11 , were distressed sales. Investors made up just 16 of the market, again very low. All eyes, of course are on Interest Rates. Interest rates today are actually the lowest theyre down from a year ago that was the first iltime in a year. Well be watching thats correct and of course theres always more online. Simon . Diana, thank you very much for that. Diana olick with the latest. Lets turn to the ipo surge, which is on down here at the big board. It will be one of the biggest judges in 14 years. Heres a few things to point t out. Remember that . They did 500 each year. So its half of what it was in the last real bubble, and its not as frothy as the return, so in that year, 50 gains on the first day. Remember that . This year its more like 10 , 15 gains, much more modest. The ipo market will follow equities. If equities are doing well, the ipo market will usually do well. Look at the ipo etf. Thats how you track them. This is a basket of about 60 ipos thats when we frothyness ipo slowed down, and now they have come back a bit in june, up about they do term i next, the Termite Company as well as home services, and michaels, we will have a chinese internet company. So a whole basket of different kinds of companies coming this week. Frothy, maybe a bit up there, but i dont see the prices running away. I like the use of the word real bubble. We seeked that. Were not seeing those kinds of numbers. And everybody thought they were so clever at the time. Thank you very much, bob. Meantime, were getting a major announcement thats up next, plug meg on two pharma stories. Thats right. Next up, a stock that could jump to 100 a share or drop like a rock. It all depends on one single event. Which more power lunch in two minutes. In todays market, a lot can happen in a second. With fidelitys guaranteed onesecond trade execution, we route your order to up to 75 Market Centers to look for the best possible price, maybe even better than you expected. Its all part of our goal to execute your trade in one second. Im derrick chan of Fidelity Investments. Our onesecond trade execution is one more innovative reason serious investors are choosing fidelity. Call or click to open your fidelity account today. Welcome back. Lu lu lemon is soareding on reports that he may even form a team to take the retailer private. They gave back much of their gains midmorning. Theyre up about 3. 5 , simon, on todays session. Fire season is on in southern california. This blakz popped up yesterday in glendale in los angeles county. More than 200 firefighters are working to put it out. No evacuation, sue, as of yesterday. Fire season came early this season, though. Pharma is in focus today. More and more Companies Using a combination of drugs to battle disease from multiple angles. Thats creating one of the biggest recent events. So set your google alerts. Meg tirrell has more. Theyre report on a combination of drugs for cystic fibros fibrosis. Cf is a rare inherited disease that causes lung infections and other problems and can be fat albie 40. Heres what you need to know. Cystic phi browse is caused by mutation to a gene. When the gene is defective, the protein it creates cant help fluoride escape the cell. That leads to the production of thick might be us. The first medicine to address the was kalydeco. Only about 2,000 patients with cf have mutation that kalydeco can currently help. The bigger problem is the protitian cant get to the d. Vertex is testing a new drug. The combination of both dug could help more than 14 times as many people. That bigger Patient Population also means bigger business. With positive data, it would be a huge driver for vertexs stock. Its currently trading around 67. Analysts say positive results could drive the stock past 100, whereas negative data could plunge it boo the 40s. Either way its a risky bet. Why Cystic Fibrosis affects few patients. Its priced at 250,000 a year, all together, analysts estimate vertexs Cystic Fibrosis medicines could bring in more than 5 billion. Before we go, you mentioned pricing, but theres a lot of pricing pressure, so the industry is trying to rein in its costs, about you what Companies Stand to lose the most as that process continues . Thats an important question, one of the biggest issues on the industry. From diabetes to as ma to hepatitisc, one area in particular, drugs for macular degeneration. Its the most common cause in blindness in the elderly, and theres competing drugs, and they each drew almost 2 billion in sales last year, but another drug that doctors are using avastin, its approved for cancer, and words in the same way, but in a dose eye doctors would use, it costs a fraction of much. Instead of about 2,000, its about 50 a dose. Regen ron stock took a hit last week, as pressure from insurers to use lowercost options mount. Its just one example in many on the increasing pressure on drug prices. Back to you, sue. Thank you so much, meg. Simon, down to you. Check out shares of parkers vision, after a judge threw out the 173 million patent suit division that parker had won against qualcomm over wireless networking. Parkervision says it will appeal the ruling. Meritor also taking a hit, it agreed to settle the lawsuit much less than previously expected. That could possibly explode. Takata also thinks it replied to bmw, chrysler and ford. Mean time, our partners breaking a big story, a company call cruise, with just eight employees, will adapt cars for driverless technology. They, the first customer should have everything installed, therefore, by early next year, according to cruises kit is for the audi brand of car and costs about 10 thousands. The kit is programmed for automated driving on highways in the San Francisco bay area, but they say thats likely to expand. Only 50 kits will be offered at first. Nbc nightly news will have more on this tonight, but you can read more right now on cnbc. Com. Joe if i would ever use one of those, simon. Well see. Lets check out the energy stocks. On a steady up march. Will they continue to be a good bet . Well talk about that. We want you to vote. Is ibm a good stock to buy right now . [ male announcer ] if you cant stand the heat, get off the test track. Get the mercedesbenz youve been burning for at the summer event, going on now at your authorized mercedesbenz dealer. Hurry, before this opportunity cools off. We have only a modest move to the up side today, and the biggest move around the date is copper. Which is better than 1 . So youre up to date. We are just 90 points shy of dow 17,000. The first time we flirted with that was last friday. Rising more than 14 . Can it abigail, can it keep the top spot . Well, simon, theres no doubt that 2014 has a tres year, and this seemed likely. On rising crude owl. If the dow goes above 18,000, energy will clearly have that top spot, but i think it will be shortlived. A lot of the names look frothy, if not overbought. And it may by time to start taking profits. Conoco phillips, chef roll and Royal Dutch Shell are particularly vulnerable. Even if oil guy a be heighter. I think similar to what we saw earlier this year. Cloud are to seven or eight, bill barrett corp, thats a great name to take a look at. I think it could rise if natural gas dose higher, which seems likely. We happen to like chevron, and we like the oil Services Space as well market vector oil services, oih, is a agreed way to get exposure to some of oil services companies. If we see oil stay around the current levels, Capital Spending will pick up and those companies could do well. Thank you both for the advice. Were going to check Interest Rates today. Rick san telle is tracking the action at the cme. Hi, sue. Even though the world is focused on different aspects, it doesnt like to be watched, apparently, because its hunkered down. Look at a twodays chart. It says it all. Youve had a bit of an up tick on yield, but for the most part, since then weeb ebb weve been doing a lot of work under yesterday fridays yield range. You can definitely see the etfs are having a strong day with regard to things that might not be as solid as treasuries from a credit perspective, hovering at the highest yield since may of last year, and speaks of currencies, if you look at a ten year, it would been associated with a dollar yen. As sue is, to the Interest Rate complex. Back to you, sue. Thank you very much, rick. A closer look at the ipo tsunami. Second half trades, and whether the dow stocks not hitting 52week highs this year are a good investment. Thats all straight ahead. Plus we zero if on ibm. Do you think big blue is a buy . Go vote, cnbc. Com vote. And can you guess where this video was shot . Before you go swimming this summer, you need to know the answer. Back in a moment. Shes still the one for you. And cialis for daily use helps you be Ready Anytime the moment is right. Cialis is also the only daily ed tablet approved to treat symptoms of bph, like needing to go frequently. 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So what im saying is, people like options. When you take geico, you can call them anytime you feel like saving money. It dont matter, day or night. Use your computer, your smartphone, your tablet, whatever. The point is, you have options. Oh, how convenient. Hey. Crab cakes, what are you looking at . Geico. Fifteen minutes could save you fifteen percent or more on car insurance. Welcome to the jersey shore. Remember the movie jaws was base odd a series of shark attacks on the jersey shore. They are actually trying to tag a great white in order as to track it. I think theyre going to need a bigger boat. I know this do, and im not going in the water. I dont thinkd dom chu would, either. My wife is from the jersey shore, so i probably will stay away from there as well. Traitor preeltr Pete Najarian set hiss long the call options. You can see just off session highs, but a nice move. These tooks can be very volatile. And i think he had a short position in it, too. Time for the power lunch countdown. Jim iuorio and jeff kil berg. The likes of ibm, verizon. Ge. Nikes, wag mart. I biismt m incidentally is our live vote question. Lets zero in, though, on the others. Were going to start with verizon. Jim, do you like it at these levels or no . I do, but a caveat. There will be a theme to my theory here. Okay. I like big caps in general. If you look at the european bond mark, verizon gives you a 4. 2 yield. Where would you rather put your money . It goes above 50. Technically, i think thats where the answering point would be. Jeff, what about you . Well, it is jimmy ace birthday. He turned 85 earlier. Honestly. Im opposed. I think theres great names to talk about here, but i want to buy it as a better price. Unless you come down to 16,000 verse 17,000. Jim, what do you think sniismts namee is the one i like the least. Were reminded of somer and nike is not that big in soccer. Adidas beats them in europe. I would hold it if i had it. Im going to hop in. 24 is the oneyear performance. I think its a great stock, but again, you have to buy this lower. Walmart, what do you think . Walmart is one of the stocks where you want to get in. But i think when you see the correction, if it ever comes, sue, i think walmart will outperform. I just cant buy it up here. I think its its a small, midterm downtrend, but i like what theyre doing as far as online, so i would be a buyer of walmart in the 74 region. Now, jim, im going to give you p g, and jeff, cisco. P g is the poster child for a little bit of risk. As a matter of fact, i had a position on recently that expired, because it was a call position, which, by the way, another calvia, most of these positions i would replicate with cheap calls. Youre going to limit your risk and calls are cheaper than they have ever been. And cisco, jeff . Cisco has been a huge momentum, so i think cisco, again, i hate to beat a dead horse, ill just beat up iuorio, but honestly you need a better entrance price on these names. And ibm is underperforming the overall dow 30, can big blue power ahead . Jim, you first. No, actually the mac has not forgiven them. I think if it trades 180, 170, its a perfect sell candidate. The market thinking this price is too high. Jeff, do you agree or more . I think all these dow big dogs are exhausted up here, but i actually like it. What have they do . Theyve been crushed. When you see them moving that cloud computing, i like the fact. However, the experiment of replacing revenue with higher market business, thats yet to be seen. I think for some reason its the whipping boy for the market right now iismts i like it ten dollars lower. Lets see what the viewers think. Bell, 43 said yes, it is a buy. Oh, the birthday boy. Thats right. Thats right. We have a tsunami, 18 Companies Set to price this week. If all price, well have 38 ipos for june, busiest since june of 2000. Are you staying all august tore . Jeff, you first. Well, i like go pro this week. It kind of jumps off the page. Its just a fantastic company. The only thing i dont like about ipos in gen, you dont know and half of those proceeds are going to inside sharers. So do your home work, wait for it to sell, because theres a lot of emotion on the first day. There sure is. Jim . I like fundamental analysis, but i like technical analysis, too, and you cant gauge sentiment when it has no chart. That it has no option market, either. That being said, t. A. G. , you a stay around from the ones i think are probably hyped too much. The one that involves winemaking, apples and real estate in the pacific northwest, im interested in that. As all 85yearolds are. It sounds radio mantic, doesnt it . But i like the notion of it, but i want to see how it trades first. Finally, one trade each. Whats your best bet for the second half . Im going to go with gold. I think when you have two out of the big three central banks, adding liquidity at break neck pace, you want to be long gold. I think you want to own volatility. Its an unnatural. Go long vol. Thanks, guys. Happy birthday, jim. Appreciate it, sue. The french government is finally backing general electrics deal to buy, but it comes at a cost. Plus the what hardline extremists in iraqer now attempting to do, and what the rich fear the most. Its not losing their wealth. The power rundown is next. Just take a closer look. It works how you want to work. With a Fidelity Investment professional. Or managing your investments on your own. Helping you find new ways to plan for retirement. And save on taxes where you can. So you can invest in the life that you want today. Tap into the full power of your fidelity greenline. Call or come in today for a free oneonone review. Its power rundown time. A study says one in seven multimill yor nair or billionaires worries that their wealth is im not too surprised by that. The richer they are, the more concerned they become. You know, i i guess obviously you say youre not goods to pass your fortune onto year children, but to be honest, but if youve got the best education, the best advice, the best career ideas that youll get from good parents, they probably can be afford to be less motivated slightly. What do you think, julia . This isnt the first time weve heard this concern. It was Warren Buffett who said he wanted to leave his children that they could do anything, but not that they could do nothing. It was okay to open doors, but that hi kids shouldnt be able to loaf around. Talk about rich peoples problems, certainly not something the rest of the 99 have to worry about. But it seems to be a concern. Lets move on to i. S. I. S. Julia, its very frightening to me. Social media is being used as a weapon, and it seems to be being done that twitter couldnt, but being done very intelligently. The Iraqi Government has been trying to block twitter in order to make sure that people cant access this, but twit ser one of these servicesing that very useful in revolutions of all kin kinds. I think thats one of the big dangers with social media, that you can spread lies and inflame situations without being checked, which is why so Many Companies have social media teams monitoring whats being said. If hitler were alive today, he would be a prolific tweeter. The question is how do you stop that . You cant, i dont think you can. Our last topic, the french government striking a deal to purchase alston. Do you think it was a good idea to strike that partnership with france. You have to wonder, ultimately theyre happy to have france as a partner, but i dont know. Cmon, if you want to do maximize profits theyve had a relationship with the french government for years. Thats true. The other thing you should realize, when you see Jeffrey Immelt in paris, theres a woman with him. Shes about as establishment as you can possibly good. Shes married to one of the senior conservative politicians. Ge is in thick, but it always has been. Thats absolutely right, but if you look at the concessions they had to make in order to get the deal done, it means lower cost savings, smaller boost. But working with the french government, they dont make it that easy. I lived in franceiers, and i would say its a great place to visit, but a harter place to do business. The poll, is it a good idea for ge to partner with france . 53 said no, so, you know, narrow, but unless the knonoes e it. Nvidia is cutting its losses after a ratings drop this morning citing less desk stop demand and higher nfb torrie. They have chopped the loss in half. Nvidia now trading near the highs of the day, so the chip stocks on the move. Dom, were calling the consumer. Consumer discretionary is still the worst performing sector. Might that be about to change . What do you think, seema . Sue, its all about the economy. In fact, experts say theres two Economic Data points that could potential provide a lift to Consumer Discretionary stocks. I have that report and toddata, next. Weekdays are for rising to the challenge. Theyre the days to take care of business. When possibilities become reality. With centurylink as your trusted partner, our visionary Cloud Infrastructure and Global Broadband network free you to focus on what matters. With Custom Communications solutions and responsive, dedicated support, we constantly evolve to meet your needs. Every day of the week. Centurylink® your link to whats next. [ female announcer ] we love our smartphones. And now telcos using hp Big Data Solutions are feeling the love, too. By offering things like onthespot data upgrades an idea that reduced overcharge complaints by 98 . No matter how fast your Business Needs to adapt, if hp Big Data Solutions can keep wireless customers smiling, imagine what they can do for yours. Make it matter. Imagine what they can do for yours. Could help your business didavoid hours of delaynd test caused by slow internet from the phone company . Thats enough time to record a memo. Idea for sales giveaway. Return a call. Sign a contract. Pick a tie. Take a break with mr. Duck. Practice up for the business trip. Fly to florida. Win an award. Close a deal. Hire an intern. And still have time to spare. Check your speed. See how fast your internet can be. Switch now and add voice and tv for 34. 90. Comcast business. Built for business. Consumers dregiaries stocks have been rising, but still the worstperforms s p sector this year. Will that change in the second half of the year . Thats the big question. Can you make money on a rebound . Seema mody, what do the experts say . Harsh weather and weaker than expected growth in the u. S. Has kept american from spending, dragging down the consumer discretionacy sector, the only sector trading lower this year. On whether the group can play catchup, experts say it depends on the economy. Morningstar says keep an eye on beige growth and home prices to see if consumers have more money to spend. Julian emanuel doesnt see stocks in this sector being a screaming outperformer. Now, third car earning will asp be watched close will you as first and Second Quarter records were clouded by bath we are. In fact, i think we have an exclusive with carnivals ceo tomorrow. How do you play it . Todd joins us from s p capital i. Q. It was a rough winter. Thats got a lot to do with it, todd. Yeah, so the First Quarter from an earnings standpoint was relatively weak. Weaker than expectations, and we saw the retailers have to cut prizes in order to get inventory out the door. As you mentioned, housing has been relatively weak as well. Those two things have provided a bit of an offset. We think there are good opportunities. What would they be, todd . Disney is one of our buy recommended stocks, you have a highquality company, consistent earnings. The theme parks have started to see traffic, and were not expecting that well see disney be able to return some of that cash to shareholders in an increasing way. So thats one of the stocks that we like. I see ford and dollar tree is the other one . Yes. We have to leave it there. Good to see you. Sue . Okay. Where in the world is scott cohn . His getting ready town vail the eighth annual ranks of the states. He joined us from the mystery state with a preview. Hi, scott. 30plus years in television, this is a first, going live from a canoe. Im told there are a lot of locations very similar to this in americas top state for business. Were going to have one of our first our first diabolical hint later on during closing bell. We do have fun with this, but this is a very serious study, something we start early on in the year. 56 metrics of all 50 states, in ten categories of competitiveness, which i will try to recite from memoli. They are the cost of dos business, economy, infrastructure, quality of live, work force, as well as technology and innovation. Lets see. Access to capital, cost of doing business. I think im business. We weight the categories based on how much the states cite them in the marketing materials. Basically were testing all of the states claims well reveal it tomorrow, and lots more about our methodology. We want as to hear from you. You can tweet us, go on our special website. And well see if i get out of this canoe alive. Back to you. I know you will, but put on sunscreen in the meantime, my dear. Well see you later. And dont rock the boat. Definitely dont rock the boat. Three big winners next on cnbc. First, lets see whats on street signs. If you own a house you probably hope the price just goes up and occupy without falling into another bubble trap. We have an experience trying to tell us what is happening and whether or not we are moving into double territory. Plus retail founders are kicking of a stink. What does it means for the stocks . And create your over driverless car . With a kit . Get what, youll soon be able to do that. Make sure you join us on street signs. [ male announcer ] the mercedesbenz summer event is here. Now get the unmistakable thrill. And the incredible rush. Of the mercedesbenz youve always wanted. But you better get here fast. [ daughter ] yay, daddys here here you go, honey. Thank you. [ male announcer ]. Because a good thing like this. Phew [ male announcer ]. Wont last forever. See your authorized dealer for an incredible offer on the exhilarating c250 sport sedan. But hurry, offers end soon. 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[ female announcer ] over 100,000 businesses have already used zip recruiter and now you can use zip recruiter for free at a special site for tv viewers; go to ziprecruiter. Com offer2. Welcome back. The nasdaq slightly lower on the days. Which have been a bright spot for the nasdaq, are underperforming today. In fact, Pacific Crest downgraded and nvidia to underperform. The analyst writing that a recent asia trip revealed that all may not bess as peachy as it seems it pc land. Micron tech shares have been hitting fresh multiyear highs over the past weeks. Were looking at shares higher today, ahead of the earnings report. Investors have been taking note, but Goldman Sachs put out a note saying theyre in dangerous territory and the market is overemphasizing the good news, ignoring the bad news. Back over to you. Thank you, seema. In many senses, that sums up where we are. Very cognizant of the good news, ignoring the bad. Its called bull territory, im told. We are 87 points shy of dows 17,000, and heading to, sue, in the wrong direction. Three winners before we hand you back. Thank you. Integris, petsmart and vertex. Iming, always a pleasure. Lets do it it against tomorrow. Why not . Thank you very much. Simon and i will sue you tomorrow afternoon. Sgro a slurredle on the road do dow. Welcome to street signs, stocks are stalled. Plus, is it your town . We look at some of the bigger and the driverless car is here. A tine,startup may beat google at its own game. Hi there, mandy. Come take a walk with me here, very minor moving today, but this is something to chew on. Up our down, we are looking at the 46th consecutive day that the s p has failed to register a daily percentage gain of 1 mrz or more. That ihe

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