Will august, a traditionally difficult month for stocks bring more record highs . Were on dow 22,000 watch. White house says new chief of staff has Anthony Scaramucci out. Under armour, well look at the stock and the competition. All three indices saw a record like the dow and the nasdaq, s p posted eighth positive month in the past nine. Its been quite a run. A lot of that, though in dows case, has been boeing. Boeing is the new thing its really incredible y had some laughs this week where i read boeing, sell to hold this was, to me, the biggest cap stock that had sales on it not netflix, not tesla, but boeing there was a moment where one of the analysts said is it as really as good as the cash flow real not only is it real but its spectacular. I really do think there was kind of a misdirection play a lot of people felt boeing could be like, say, some of the like a ge and it wasnt. How do you miss boeing, though seems to me their business is one that you contract very well. They missed the dreamliner. They missed the share from airbus, they missed orders from all different parts of the world. Those guys really have to rethink. A couple of guys had it but oh, my, that thing is up on the back of shorts. Nrg, short squeeze they got it together scripps was a takeover freeport and netflix, i dont know, combination of house of cards, stranger things, some of that foreign stuff. Some wondered what earnings season would feel like if google reported before netflix or amazon i have been going over that google quarter and ruth barrett, who i have a financial crush on, theyre doing, what is it, sand energy yes. They do they were not conforming to the recognition that it cost too much. If i had to do that Conference Call over, orchestrate that, i would have done i would not have said i would have talked data center, client take, just like amazon. I would have talked wainwright. Thats your Side BusinessConference Call corps ychoreogr absolutely. Jerome prince from the old days. Im surprised these guys dont orchestrate it the way i do. I have a bernstein score im partial to bernstein scores. These guys are all learner and love they think its camelot or something. Theres a law passed who says they cant be disappointed. Rogers and hammerstein were pretty good. Hammerstein had a house near me. Did he really yeah. Huge influence. Probably the reason that hes a composer now weve got greenspan, jim, with comments saying stagflation is about to emerge to a level not seen since the 1970s, exiting period of stagnant growth will mean not an acceleration of growth but higher prices. Im let down by that. One thing we dont have is inflation. Thats been the feds biggest problem. I do think amazon increased a level of deflation thats rather extraordinary, as has the sprint versus verizon versus att. Versus tmobile. Im talking about major bills. Natural gas incredible low, thats heating even though its 108 degrees today in oregon. Recordbreaking temperatures in the pacific northwest. Did you see had an . People are frying eggs on the sidewalk, not the burner toast. I dont think thats particularly healthy to eat your egg off the sidewalk. Portland is so clean. You dont buy greenspans caution on a bond bubble no. You dont buy howard marks saying its time to increase our reduced risk in investments . Look, its never a great time people want to get ahead of september, which is not a good month. I see things that i dont like there are cracks micron is going down 14 since early june. Yeah. Just the opposite, i think, of greenspan is our president , in there cheerleading for dow 22,000 you dont Pay Attention because youre mainstream. I dont Pay Attention to the dow either. No. And now the s p is trying to assert itself. I think its just not as bad a lot of boeings are out there waiting to happen. Give us some names there. You want names . Yeah, i want names. You want me to name names i want you to name a name. Allison transition is a boeing waiting to happen. Maybe thats too narrow for you. Cummings that guide up was good people look at the short term. You want me to really just name names . Intel. Intel people just that stock is incredibly cheap so intel i could have gone shopify. Im not doing shopify. Intel. The intel Conference Call read like a novel stern, those are really hard, those books. In the end it did say everybody is too conservative about us. That was a good quarter that was a good quarter. Your point, really quick before we move on to under armour, seasonality in august, past four years, major indices down we know about september. August that second to last week and last week in august in 1987, which people dont realize. That was the first real crack. Thats when the dow was sorry, the s p thats when you had the first crack and really had to look at yourself and say you know what this market, the mercks, coca colas have come too far. Now theyre what i like of stocks that have done nothing and may be poised. Poised starbucks and the times. Kind of bullish. What johnson already said to us last week, china may be a bigger market. Will be a bigger market. Yeah. So, you know, hey, hope springs eternal, mr. Frapuccino. Why not stick with whats worked, facebook, google, amazon these multiples are not that high. Amazon . Not amazon. Facebook, google. 2019 is very low. Google is inexpensive. Cash flow machines. Eating up the world. To your first point, theyre generating so much cash theyre going to be able to continue to invest in the Growth Industries of the future, conceivably, unless they miss it, of course. They have enough cash to be able to buy sales force. Theyre going to create an ai machine that eats us all anyway. Ai number three, trust the process. Musk has some tweets that indicate its time to see the doctor. The doctor . He has some existential tweets about how hes up and down and up. Maybe its mood stabilization time. Speaking of down and up, lets talk some under armour this morning, fullyear guidance below expectations, announcing a restructuring that will include job cuts and narrower than expected loss. Its been pointed out weve had job cuts at under armour, nike adidas is the one thing of beauty nike has made a comeback look at nike im dating myself. Nike, vf, columbia sportswear, pvh, all suppliers and theyre all doing quite well under armour, i thought that the i know that the kohls initiative is working for them im not against buying under armour here. It wasnt the kitchen sink a lot of people wanted. Twoyear on under armour. Its been house of pain. It has been a house of pain. Under armour. You could have called it a house of cards. Love this thing. Ever since he issued that bottle, liquor, did the rye, his own line, just the opposite of what happened with clooney, melman that was a good buy. That was. Revenue 911 versus 1112. Everyone was looking for a downgrade. Made what, 980 million too much . Consolation brands bought for 20 million. Youre upset, as you should be because, of course, youve been rung a restaurant that serves tequila and you were not smart enough to launch your own brand. Thats true i want to do a monster let me tell you something, mr. Negative if there was a movie made about kind of me, i bet you clooney would play me. I think he would play me i think thats who would play me. You got that one on me, without a doubt. And so many other things, too. We both wear brioni i dont know if he wears brioni. You cant take that away from you. Clooney played you in a movie. He did . It wasnt that bad. Didnt treat you that bad. My wife said dont see it you have enough you had some rough spots. Did i you came out okay. How did i look, though . Unbelievable. You know what, thats all that matters you can judge a book by its cover. Thats right. Not all of us can pull off a suit like that. Who would play faber . Say again who would play faber . Nobody. Isnt that interesting . Obnoxious short guy. The guy who played the brotherinlaw of in breaking bad of that guy . Thats who would play you. I like him. Harvard trained more bad news for snap this morning. Well fill you in on what it is. Shakeup at the white house olympics coming back to the u. S. Well talk about that. Premarket, dow up five, four Straight Record closes brings it to a total of 30 for the year. Do you think the president me noticed that orsquawk on the street in a minute. Experience advanced Safety Technology at the lexus golden opportunity sales event before it ends. Choose from the is turbo, es 350 or nx turbo for 299 a month for 36 months if you lease now. Experience amazing at your lexus dealer. 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. Were getting auto sales today. Ford is first up phil lebeau is in chicago. Reporting sales declining 7. 5 , weaker than the estimate according to edmonds. Com the theme from automakers, pull back in fleet sales. This is all an effort to do a better job of bringing down overall inventory numbers which, by the way, will still remain elevated at the end of the month. One other number to keep in mind, Fiat Chrysler down 10. 7 , weaker than expected the decline was expected to be down 7 . Guys, we will get General Motors in about 15 minutes. It will be interesting to see as these numbers come in, if they are weaker than expected, is the industry possibly going to get close to 17 million for the month of july as some have predicted . Im not sure thats going to happen if we continue to see these weaker than expected numbers. Back to you. Thank you very much phil lebeau. Here we go again, right . Thats what those railroads were saying on those Conference Calls, saying this is going to be the problem for the second half of the year autos. Whats going on what is going on a lot of people feel that everybody has an automobile that what you dont want to hear is layoffs. Layoff production. They take inventories are high im concerned because i was really hoping that Union Pacific was being too negative in Norfolk Southern but what phil just said is that there will be no recovery in transports of cars, such an important part. Transports have come way down. Oh, my. Few weeks ago. We did get an upgrade of united that Conference Call was spirit where they talked about how everybody else is cutting prices that was very bad. A negative call. Well get gm in a few minutes. Meantime s p will begin excluding companies that issue multiple share classes that takes effect today and does not impact existing members like alphabet and Berkshire One company that will be affected is snap, class of stock with no voting rights, hit a record low in yesterdays trading. Our friend josh brown said sometimes these interesting classes have consequences. Look, i think that andrew, sorkin was saying this morning, the most buying group imaginable cfos and ceos who say i wish i werent in the s p a lot of what i do is being shot down by s p selling. So its a mixed blessing its true, you want that buying power. But if you really excel, you could be brought down so quickly by, say, flash cash that happened in august two years ago. Which, by the way, i am concerned about. Remember that friday yes, i do of course, people made fun of me because i was like i have to figure out whats going on verizon was down 12 points. Friday sunday. Two years ago when bullard said he wasnt worried about china. All the stocks gapping down for no reason. There was a moment where david said listen, i have to figure out whats going on priceless. Yeah. Priceless, right . Some things are priceless. It was wrong. Something went wrong. Ge. Verizon was down 20 at one point, something ridiculous. If you look at the charts i dont think that being in the s p is that being excluded is not nearly as bad. Look index funds, of course, control so many of the votes end up being the keys and proxy fights. Look, their proxy is going to be worth an election, right . Right. If they had a proxy fight speaking of proxy fights, by the way, p gs proxy is out in their first what we call fight letter, their reason for saying do not give a board seat to nelson peltz still pretty tame. This will really get going in a month or so. How much does it cost i detailed all the different advisers p g has theyre paying minimal fees to those advisers that will be something to try to make some point of they hired four investment banks, two law firms, two proxy advisory firms. Meanwhile a plan to try to get stock higher, trion. They would have to pay nothing to get him on the board. Sales growth by more than a percentage point in a market that decelerated more than a percentage point. Thats true. Equal to our original fiscal 2017 target, improvements, we continue to make strong progress on productivity initiatives. True. Making meaningful head way on our next cost savings program. True. Take that, trion. Thank you because zbl yesterday you were attacking the activists. I was only saying there are some bringing credit they just dont really want andrew livers involved. I think thats what the right. Thats what the activists are saying they love breen. They do love breen. Like you. I love breen. You made that clear yesterday. You know i was doing how much tyco is up its like ten times the s p. Hes amazing a miracle man. Thats all i was really talking about. When we come back, cramers mad dash, count down to the opening bell and take another look at the premarket. Nasdaq hasnt fallen for four Straight Days since october november last year enhtvo tt tet e th op im here at the Td Ameritrade 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. When this bell rings. It starts a chain reaction. Thats heard throughout the connected business world. At t Network Security helps protect business, from the largest Financial Markets to the smallest transactions, by sensing cyberattacks in near real time and automatically deploying countermeasures. Keeping the world of business connected and protected. Thats the power of and. Last week saying dont worry t rams, flash, theres still going to be restraint. Equipment spending not up that much citi says you must recognize that it isnt over pricing can still go good. Why is this important . Seagate the other day reported a hideous number for disk drives Western Digital did not break out flash and disk drive people have been selling that stock. This has been this has been going up and down. People are starting to say, wait a second oldtime tech, dont give up on it and my take is that why has there been no response to what you say have been two consecutive strong quarters everybody feels were only one dram chip away from being out of equilibrium people are not as worried about flash but dram pricing has spiked and it looks like the channel i dont know. Its a very controversial thing to say that the channel is full. This is citi saying dont give up the ship. Stock is up, to be fair. One of the best performing stocks of s p after being one of the worst performing the ultimate boom bust story. Weve got the opening bell. Sprint earnings from that companys ceo in terms of whats going on in rmtes of consolidation. When we come back. Were facing n security events every day. Ddos campaigns, ransomware, malware attacks. Actually, we just handled all the priority threats. You did that . We did that. Really. We analyzed millions of articles and reports. We can identify threats 50 faster. You can do that . We can do that. Then do that. Can we do that . We can do that. Thank you so much. Thank you so were a go . Yes we got a yes what does that mean for purchasing . Purchase. Lets do this. Got it. Book the flights hai si si ya ya ya what does that mean for us . We can get stuff. Whats it mean for shipping . Ship the goods. Youre a go you got the green light. That means go oh, yeah. Start saying yes to your companys best ideas. Were gonna hit our launch date scream thank you goodbye let us help with money and knowhow, so you can get business done. American express open. Youre watching cnbc squawk on the street. Opening bell in just over a minutes time. Auto sales mostly a miss so far on the fiat and ford personal income was a goose egg. That was a miss. Well open awfully close to 22k. Yeah. There an under current of new money coming in. Tuesday they will rally. I think theyre making a stand here be careful a lot of the retailers have gone up here, but i actually think if you wanted to start buying some amazon, you probably start today. Its down, straight down i dont think its so bad. At the big board, celebrating its name change from desoro is andeavor and at the nasdaq, First Financial northwest. Banks held really well yesterday. Watch those. Overseas is strong. Were getting a lot of the Foreign Companies doing so well here im watching the banks and Simon Properties the worry about retail, again, shopping mall, simon expecting that brick and mortar to roll over its not. Simon has the highest end, many of them toutman and simon have the highest stores, get the highest per square foot. Right. Even if you have those same stores move out of another mall thats b class they wont move out of their high malls. They have same occupancy. Its incredible when a sears leaves, they can fill it up with some higher rent then again, gm sales oh, my what value traps those seem to be extraordinary. We do have gm out. Youre not joking about it not matching the sentiment on the street general motor sales down 14 , edmonds decline of 10. 8 it is due in part of General Motors pulling back on its fleet sales particularly to rental companies. But you look at the other side of the ledger, retail si