With the sail boats going by. Its okay. Well be fine. Actually, we have a pretty good it real i mean go ahead. Bill, the shot behind me is real. It is absolutely spectacular. It is an picture. Its not memorex. It is the real deal. I have no doubt thats a real picture. What is interesting is because what is behind me is real too, right now. And what is going on i know that. And the rally on wall street. Been doing this a long time. Yesterday, ben bernanke spoke zippo. Nothing happened in the market. Today we spoke and we are off to the races. Alltime high territory. We will talk more about that coming up. Also we await earnings from microsoft and google. They will be up next hour. That will definitely help set the tone for tomorrow as well, maria. So the question is, what happens from here . Do you want to get into this market right here at these alltime high levels . We will talk with black box ceo larry fink. He was the first to call this market, a bull market. Remember he came on the closing bell. And later a 5 pull back we saw earlier this summer. We will talk it larry and see what he sees in the market. By the way, his stock today soaring on strong earnings, because we continue to see lots of money flows. We will talk with larry fink coming up on the closing bell. A lot of financials doing well. Huge bomb shells at yesterdays delivering alpha conference. You will remember here on this show, it was activist investor nelson pushing pepsi to change its business. Even as that stock continues to trade near new highs, we hear from someone who says peltz is dead wrong. And he is an authority on this. That should be interesting. Coming up in a little bit, maria. And bill, we should say that larry fink is the largest in blackrock. We will get larrys take on that as well. We have the final close, final hour of trading with the market in record uncharted territory. Dow industrial up another 80 points today. Sitting at 15,551, alltime highs. S p and nasdaq strong today. Nasdaq right around 13year high that we saw earlier this week. Up 4 1 4 point. Financials really leading this market here. And check s p 500. We are once again in uncharted territory. Gain of 9 1 4 points. All right. So about an hour to go before the close. Will the s p finish at alltime highs . And where we go from here. We have mullencamp funds. Eugene from profit management. Yesterday, ben bernanke spoke and nothing happened. Today, spoke to the Senate Banking committee. Said the same thing, and we are off to the races. I would argue hes been saying the same thing for the past few months. Yes. Saying we are dependent. Almost feels like the market is up on fumes today. You dont think the market is Strong Enough to support a rally like this. If people are cutting estimates before earnings and you are surprised on the upside, you are not where you were in april. Bigger problem is the latter part of the year. Earning estimates are just too high and they have to come down. You know, you also have the Philadelphia Federal Reserve survey out today. But if you are looking for value in a market trading near alltime highs or in uncharted territory, where is the value right now, you would say . Well, you have to pick your shots. We do think there is value in some of the financials. We think that what played earlier this year is people were looking for yield. And we have been telling people the last several months, we would rather have a 3 yield with low payout than 6 yield where the payout is very high. And you have seen a big pull back in the bond market, of course, and in direct yield dependent stocks. Frankly, we think it is pretty healthy. Everybody knows Interest Rates have go up and the 10year went up about a percent and the stock market absorbed that pretty well. We think that is a sign of strength. But did you hear anything different . Im sorry . Sorry, bill. Go ahead. No, good ahead, maria. What ways going to say, is did you hear anything different from bernanke today opposed to any other day in the mark set looking at commentary day in and day out. Are you hearing anything different other than, yes, rates go up at some point. Yes, tapering beginning at some point. But we are still in an anemic situation and unemployment is underestimating the real situation. No, he hasnt said anything different. What we think is interesting a couple weeks ago was he didnt say anything different then either. But it hurt him on an afternoon. Any time anything, anybody says anything of importance, the markets initial reaction, market is just investors. But our initial reaction either as investors or portfolio managers, is how can that hurt me . If you get something in the middle of the day, the initial response is always negative. How can that hurt me . Once you go through and say, okay, i dont think it will hurt me, then look for the opportunities on the upside. And what bothers me a little bit is the fed looked that and said, gee, the market is down. We will back pedal from that. Im not so sure thats true. Thats just a natural reaction it investors. Any time anybody says something of consequence. And eugene, i think you agree with that. The feds in this intervention with easy money to a period of where we are left on our own devices. I think they are, bill. But i think today you are getting help from earnings. I think on the micro level you see Companies Come through. Actually they have operated margins. And revenue tends to be light it seems, but i think across the board, you are seeing a slight bit of economic improvement and fact that the Federal Reserve is coming in and taking off the table a little bit, that they are going to reduce easing right now and take later, i think it is helpful. Are you investing as though you are anticipating the fed to begin tapering by the end of this year . Im investing more more the 3year period and say, i know the fed is coming out of the market at some point. So i will look at a sit like like with intel today. They are down pretty aggressively. But the consolidated number, you see pc shipments going up a little bit so that would be a surprise. So im looking to get paid to 12 to 18 months when the macro news is in the market. So tobias, are you surprised this market is at alltime highs here . Do you want it short this market at this level . I would definitely get a little bit off. Back in december of 2011, a raging bull thesis report said we would enter a new bull market in 2013. I over the next two, three months, we have to get through whatever tapering issue occurs. We have to get through kind of this transition from quote, unquote, defensive deep cyclicals at the same time that they are seeing it weaken. Our analysts put out a report on Mining Companies and Mining Equipment companies, seeing pricing breaking down on equipment to the first time very early in the turn. And youre going to have order cancellations. So the combination will be a little bit challenged in some of these materials, industrial stories. Thats where everybody wants to go. So that adjustment may not be as smooth as everybody would like it to go. Do you see trades going much higher from here . We are looking at 2 3 4 by the end of the year and moving forward. Contracts are at 4. 35 . They arent really talking about the surge in rates over a short period of time here. You agree . I do. I think that Interest Rates wont be a major factor here for some time. We have pretty easy money has been for some time. I think more importantly, because companies have become so efficient as a result of the downturn, as long as they get Pricing Power and get revenue come back into ethe equation, te markets will continue to spin. Interest rates have done nice things for retirees and pension plans. It is getting there is the tough part though, thats the problem. But the market is acting neutral. With low expectations, stocks are priced up. With bad news, getting priced down. So the markets, i think is more rationally than just headlines saying we are hitting new highs. Thank you, gentlemen. Good to see you all. Thanks, everybody. By the way, off of the best levels of the afternoon, but nonetheless, still in record territory, josh lipton looking at what stocks are fuelling this rally today. Over to you, josh. Maria, heading into the close. Big movers were watching. Start with banks. Morgan stanley reports better than expected adjusted profit. Regulators also green light the repurchase of 500 million of its stock. Goldman, city, bank of america all higher as well. Boeing rising today. British regulators looking into the 787 fire. Now saying it was the emergency locator beacon. Regulators saying it should be turned off. Stock moving higher. Now up some 40 just this year. Health group, another gainer, beating the Health Insurer and enrolling more people. Well Care Health Plans also along for the ride. And herbalife, delivering alpha conference. Carl icahn saying they havent sold a share and the subject after billionaire brawl, icahn is long and ackman is short. Maria, back to you. Josh, thanks so much. And through the day of trading, 45 minutes before the closing bell sounds. Off at the highs, we have been up 118 earlier, the dow up 76, bill . Meanwhile, pepsi shares hitting a new high today, maria, after pushing for changes at the company during our alpha conference. But not everyone agrees with nelson pelts. We will get to the other side of the argument and if pepsi belongs in your portfolio. Thats after the break. And later in the program i will talk with blackrock ceo larry fink. What does he say in the next leg for this market . We will talk about that and a lot more. Also coming up next, sir Charles Barkley is here. He joins me in lake tahoe. He is the long shot to win the American Century classic here in tahoe. We will talk strategy with him moments before he tees off. Plus, did you know he watches the market everyday . That and more coming up on closing bell. Stay with us. Charles barkley, next. Before Global Opportunities were part of their investment strategy. Before they funded scholarships to the schools that gave them scholarships. Before they planned for their parents future needs and their sons future. They chose a partner to help manage their wealth, one whose insights, solutions and approach have been relied on for over 200 years. Thats the value of trusted connections. Thats u. S. Trust. [ male announcer ] you wait all year for summer. This summer was definitely worth the wait. Summers best event from cadillac. Let summer try and pass you by. Lease this allnew cadillac ats for around 299 per month or purchase for 0 apr for 60 months. Come in now for the best offers of the model year. [ male announcer ] how do you do a Summer Clearance the dodge way . First wait till summer. Then get the cars ready. Now add the dodge part. The dodge Summer Clearance event. Right now get 0 financing for up to 72 months and no payments for 90 days on all dodge vehicles. Welcome back. There are two things in the stocks right now. Mr. Bernanke tamed the bond market for the moment. For better or worse, thats the key to the story. Second earnings coming in to expectations. I said a few weeks ago, could end up at 6 . Right now at 4 . Im sticking with those projections. We are getting all of the financials in and they are generally pretty good. Modest loan growth, still enough to get earnings above expectations, by and large. And it is not regionals versus big banks. They are all on the up side. Everybody says, oh, it is just financials. No, thats wrong. Put up the screen here. Tech stocks, ibm. United healthcare. Johnson controls, dover, and industrials, dover up the outlook at a historic high. Johnson controls narrowed the guidance. This is not just financial stocks. Generally news comes in bet are than expected. We did have a little bit of disappointment today, bill. That is ucp. We have another home builder go public today at 15. This is the third one that happened this year and as you can see, little bit of a disappointment. Getting a late day bounce but about a dollar below where it priced overnight. Take a look at the interest and quote from the ceo, i spoke with him this morning. I asked whether higher Interest Rates would hurt the housing recovery. Household formation and job growth trump Interest Rates. Very important point to bear in mind. Back to you. Thank you so much. We are continuing our special coverage from American Century celebrity championship Golf Tournament today in lake tahoe, nevada. Our guest guest is 500 to 1 shot to win the tournament. The always outspoken nba hall of famer, sir Charles Barkley joins me right now. Emmy Award Winning studio analyst for nba on tnt. Can you believe they give us troughies for being on television . First of all, i cant believe they paid me to watch lebron play, now they are give meningococcal trophies . America is great. Im sayin. So 500 to 1 odds, how did you gain these days . Im looking forward to the weekend. Im hoping i play better, but im not going to sweat it. It is hot as hell everywhere else in the country. It is perfect weather here. Walking among the trees. Fans are fantastic. But 500 to 1, i probably wouldnt bet on myself. But thats how you win money. I have no chance of winning this thing. Thats how you can be successful. You were so generous with everybody, buying everybody drinks. They were just crazy for you. Because you are so generous with your time. Well, maria, no disrespect to you. Theres only five real jobs in the world pb policeman, fireman, doctores with someone in the armed service. Everyone else just shut the hell up and enjoy life. I think those five jobs are important and significant. If you dont have one of those jobs, you shouldnt take yourself that serious. I enjoy meeting the fans. I meet cool people in my life. Good for you. Wonderful to hear you say that, charles. What is going on in professional sports . What would you headlines . I think in the nba, everybody is trying to catch up with the miami heat. What brooklyn has done off season. What Dwight Howard has done. Everybody is trying to catch up with the heat. The allstar game was awesome. It was awesome. I got a chance to meet mariano rivera. That was probably the closest chance i have of getting to heaven. But that was it meeting mr. Rivera. So you have money in the market. Well, im not bragging, but blessed to have money. And about 70 of professional athletes go broke. That is amazing. I feel like the more money you have, the more risk you are to lose it. The more free loaders you have, actually. You just have to learn to tell your family and friends no. Once you start give willing people money, they never stop. You become an enabler. Once you start giving people money, they never stop. It is not like you say, here, let me give you money, but they keep coming back. You have to learn the magic word, no, im not giving you money. You have to put your money in the market for longterm investment games. Well the key is singles and doubles. Most of the time, you probably get a hundred investment plans and opportunities a week. Most of them say start out saying, i have a way to make a lot of money. Very seldom do you have an investment to make a lot of money. Not very often do you hit a home run. Just a lot of singles and doubles. Ive been blessed to make a lot of money for a long period of time. I just want singles an doubles. You got to hold on to it. Yeah. You just got protect it. Last time we spoke, a couple years ago, here. You said, anyone who tweets is an idiot. Do you still think that . Yes. I would never tweet. The thing about being in the lime light, youre like the homecoming queen. All of the ugly girls hate you. When you are successful, there is animosity toward you. It doesnt matter what you say. Half of the people like it and half of the people dislike it. I choose not to give those that have that dent like me ammunition. Then you get the haters . And that was the toughest thing to learn for me to first and going back to 84 when i first got into the nba and became some what known. There is good and bad animosity toward people who are successful. When way necessary high school, me and my friend hated the smart kids because we were dumb. We didnt know we were idiots for being dumb. We should have appreciated those kids for being smart and being successful. And like i say, there is dumb people dont like smart people. Poor people dont like rich people. Ugly people dont like good looking people. Psychologically, theres a disadvantage. So i choose to, i dont need the haters. Just because you are not tweeting, doesnt mean you are not opinion ated in some of your thoughts. I want it get paid to be opinionated. You were in support of Jason Collins coming out as the first openly guy player in the nba. Yes. You said players are more ready than they have been. We have all played with guy pl gay players. You work with gay people. You might not know it. But who cares. Exactly. Who cares. First of all, im black. Im against any form of discrimination. I learned from the great bill russell, one of my mentors, being black, you have to want to be inclusive. If someone is gay, god bless them. Any thoughts on the George Zimmerman verdict. I agree with the verdict. Im sorry that young kid got killed. But they didnt have enough evidence to charge them. Something clearly went wrong that night. Clearly something went wrong. I feel bad for anyone losing a kid. But if you looked at the case and you dont make it there was racial profiling, no question about it. But something happened that changed the dynamic of that night. And i know thats probably not a popular opinion among most people. But looking at the evidence i agree with the verdict. I feel bad because i dont like when race gets out in the media. I dont think media has a pure heart, as i call it. Very few people have a pure heart when it comes to race. Racism is wrong in any, shape, form. A lot of black people are racist too. I think sometimes when people talk about racism, they say only white people are racist. But i think black people are too. I dont think the media has clean hand. Im sorry the young kid got killed but judging by the evidence, i dont think that guy should have went to jail the rest of his life. Something happened bad. I like what the juror said, they both should have walked away. An