Transcripts For CNBC Fast Money Halftime Report 20160916

For the portfolios we manage. We are, instead, putting on a one by two trade right here approximately at the 115 level in the stock. Thats what we started to do yesterday. We thought that the stock has still more room to run. Weve only heard what weve heard, of course, from sprint and t mobile. Apple isnt going to tell us anything for quite a while, and i think well hear more from at t and verizon. I think its all going to be good news. Everybody on the desk likes the stock. Do you think this move is justified . Sort of in the velocity of it . Yeah, i do. I think it was also very underowned. I went and looked at the weightings of apple in the s p 500. 3. 4 . I would venture to guess that many Portfolio Managers under underweight. You could have been underweight for most of the year, right . It it was the right call. For them just to get to market weight in this position i think thats what you are seeing here, and in addition, we are getting Interesting Data points. Less bad. Maybe even some good. Samsung has their woes. If you look at the valuation, you know, 14 times, 12 times excash with a decent yield, you could make a case to own it and actually to go overweight. Analysts today, josh, a number of them raising the price target. A ballpark, 140. Thats where many of these at least the majority seemed to be today in that general ballpark. Has the tide turned now . Feels like sentiment has changed. At least how its viewed towards the stock itself. Maybe there are still fundamental questions about apple, but the stock seems to have a rebirth here. Yeah. Thats my favorite game when the sell side raises their targets after a 15 or 18 run. We dont do victory lap on this show. We get as many wrong as we get right. This is what stephanie and i had been saying, and pete too, pretty much the entire year. Through all of the ups and downs. At the end of the day the stock tends to eventually run up once the new product comes out, even if you missed the run, if you wait until the day its released, you dont know when that run is going to start, and apple is strong when its got a new series out versus the in between series. Think about how powerful this move has been, scott. 11 in one week. But its beyond that. What says this stocks rally done for the overall market . This week, although it doesnt feel that way, the s p 500 is up. 4 . However, the average stock is actually down. The medium stock is actually down. Apple has been moving the chains for the other 490 some odd stocks in the index. I think thats really important. Bigger picture, its happening in the context of tech outperformance. I believe thats the key to this market. Youre looking at cisco trade and since february 2001. You look at intel at a high it hasnt seen since september of 2000. That is the context in which apple is doing this. It is not a one stock story. Sarat . Opine on that. Its an interesting view, and i think a good one to discuss. I think the whole sector has been doing well, to joshs point. We have breaking news related to wells fargo. Sue herrera doing that for us. Hello, so. Thank you, scott. We want to let you know basically that the Senate Banking committee has called for a hearing into wells fargos practices for next week and now the Financial Services committee, which is chaired by jeff henserling is calling for the release of alpertinent documents from wells fargo about the opening of those accounts that customers did not know about it. They are calling for a hearing. They want the ceo to testify and once again, this comes on the heels of the senate asking for that hearing next week. I believe its on the 20th. Everybody is piling on right now. It is a hot topic in washington, as you know, scott, and well see whether or not the stock starts to react to it. I think its down a little bit more than 1 on the trading day. The House Committee is going to call wells fargos ceo to testify. Okay. He was grilled by cramer. Yep. And then maybe now he is going to head to capitol hill for some similar grilling. For several hearings. Yeah. Thank you so much. Sue herrera with the latest. John, you bought the stock. I sold puts. Sold puts to similar sort of situations. Im selling insurance to people at the 44 strike. Josh and i discussed it the other day as far as josh being more of a technician which was saying if it breaks 44, then it can see significantly greater down side to perhaps 40. Im not trying to put words in his mouth, but that was about what it was. I was comfortable, judge, taking on the responsibility of owning stock if it breaks 44, and i still like it here. Its down those put says are actually down even with the stock down because it rose up. You think theyre going to have a good week next week . I do. He is going to be in front of Elizabeth Warren. Do you think thats going to go well . These are all good questions. What would you make you believe . Our socially responsible our socially responsible investors adding wells fargo. The other part of your thipg is i like it, josh, because im from the Warren Buffett school that i buy when theres blood in the streets. There is blood in the streets here. Will i get another chance next week to take a nibble at a better price . Perhaps. What if i miss it . What if this is the exact crap storm that gives you that whoosh to the down side. Look at the underperformance. I totally agree. I think its very early and, i think this is not going to outperform the group ifle this Group Rallies or if it sells off. It was a defensive stock. It has very low beta relative to the other banks. Relative to a goldman or bank of america for that example. Its one times book or below. Not that you wont be right, but all im saying is 44 was supported in february. It breaks 44, i collected about 1 for those push. I think you have time. Right now its the weakest stock. Here we are having a conversation almost daily about whether the financials are the place to be, and even with rates having ticked up around the tenyear at 170, 1 68, 69, somewhere in that range. It only seems to raise further questions about the financials as a group. The everhang next week, as you said, Elizabeth Warren calling out wall street, calling out the banks again. Deutsche bank, people worried about that. 14 billion fine there. Well, like i said this all good news for the space . No, its not good news. Again, if you want good news and if you want to buy stocks on good news, youre chasing them. I am buying them on dips. This is that dip. Does it go through 43 like i say, which is approximately where ill own the stock . If it breaks 44 and stays beneath there, well, then ill load up a little more lower. I mean, i think wells fargo still a good company. The people that did what they did werent doing it for bonuses, scott, and they werent flipping those credit cards and charging things on those credit cards. They were opening accounts, which they shouldnt have done. All right. Theres wells fargo. Were continuing to watch that. By the way, new at noon, just now the fed releasing new information on the state of the consumer. Senior economics reporter Steve Liesman has that for us. Steve. Hey, scott. Second quarter Household Net Worth in the United States rose by a decent 1. 1 trillion to stand at 89. 1 trillion. Thats a new record. It also showed that Household Debt rose 4. 4 . Thats the second highest since 2008. Inside that Home Mortgage debt rose by 56 billion. Thats the biggest jump since 2008. If before you get excited about that, consider that household real estate value has risen by almost half a trillion. 408 billion or 1. 8 . You have somewhat rising debt, and much rising higher rising equity. Owner Real Estate Equity inched up to 57. 1 . Thats the highest since 2006 as americans claim more of the equity in their own homes. Speaking of equities, household equity or stock values by 471 billion in the Second Quarter to 21. 2 trillion. Go ahead and trade that, scott. Lets cut to the chase, though, steve. What happens next week . I think were going to talk about that after the break. Were going to do it now. Were going to talk about that now. I think they have to stay on hold. I dont think the sum adds up to the parts. I have a lot of fed guys and gals that are ready for the hike, but i dont think the committee is ready to push the button. Amazing your own opinion in the span of a handful of days feels like its really come back. I mean, this Economic Data that we got earlier in the week luke warm. Was a miss, miss, miss almost across the board. That was the problem. The big thursday data dump broke down the middle. Look, if they want to look past that and decide they dont need to be at emergency rate anymore, they can do that. Theyre also not getting the inflation they wanted, and theres a bigger question about whether or not we could go further in terms of getting the full employment rate and more of the people have dropped out back to work. Some of the fed folks seem to want to explore that. I think that theres my list the case for the hike and the case for the hold. Im siding on the hold, and i will be the first to admit, scott, that i have changed my mind a couple of times. I have changed it with the data as its come in. Do you feel like the fed is on the same page as you . Especially when i look at the market. When you look at the fed funds fut futures, we follow the reuters numbers, and theyre down to 11 for september. Thats where im siding. I dont know if anybody at this particular table the market would not be ready for it. The market would clearly not be ready, and wouldnt be happy. A lot of eyeballs. Stay with us. Were going to kick this around the desk now. Who wants first crack . Well, how about that medical expense part of the cpi, judge . The highest since 1984 . Running out of control. This precisely what aca, the Affordable Care act was supposed to address. It is exploding. Peoples premiums and so forth are going through the roof. This is bad news. Just unequivocal bad news. Meantime, Goldman Sachs says go negative on the s p. Theyre underweight the s p now. You agree with that, carl . I dont agree with that. We dont really know. It depends on whats going to happen over the next few weeks, and the shortterm market could ride. Look at the they say short run. Oh, by the way, they say 12 months also. I think you get some uncertainty. You go through the elections. I dont think things are as bad. Were talking about the fed looking we are not talking about things getting really bad. Were thinking about keeping them on hold and potentially doing rates. Not were going to be cutting rates. I get the asia call, skps i get the buying of europe because you have that aggressive stimulus happening. By the way, chooiina, the data coming out of china is okay. I get why theyre going there versus here, but here i want to be involved. I think its going to be definitely volatile in the next week. Especially the next week. I want to have some cash. Just raising a little bit. I want to buy into that. Once we get through the elections to sarats point, i think thats a great data point to get through, and i think thats when we go higher. One more yeah, go ahead, steve. One more side of this. I cant think of a reason why the fed would want to surprise the market. You see instances where the fed has felt like the market was too much one way. You felt like there was something to be gained. I cant see a reason why. Heres the conundrum here. What does a telegraph sound like . I sure as heck thought we were getting one a handful of days ago, and then that sort of evaporated, right . There were the comments about if you dont hike rates now, were talking about bubbles. Zroo call it my chart, and you youre slightly right. Yellen gets up in jackson hole and says the case is strengthening for a hike. There it is right there. Bill dudley seemed to side with it. Then the data came in luke warm, and the market reacted. The market did what it processed the data the way it thought the fed would process it. He is looking more towards a december hike. Were talking about literally a week ago. The market closed down 400, the dow did, didnt it . On the expectation that the fed was going to and the market was getting ready, and then all of a sudden it went the other way as the data came in and maybe were misprocessing the data. One thing is maybe were overrating the isms and the data thats come in recently, and the feds desire to hike despite the recent luke warm data. Joe this morning says he thinks the fed doesnt look that great by really reacting to the High Frequency data and not taking the view the way stephanie does, which is this longer run view of the overall economy. You were saying . I think you have to kind of say if the fed goes through with this and actually raises rates, were going to have a market thats going to say we dont understand the fed at all. Today i think the fed has to say if people really believe us, weve now sing signalled in the last week were not going to do anything. If the fed does raise rates next week, remember, steven weiss sitting on the desk here saying its a done deal. Then he backed away off of this after the data came in a little squirrely and soft. What do stocks do if the fed is just intent on doing it next week for the sake of doing it . If theyre intent on doing it, it does exactly i think, judge 10 probability. Nobody expects now its going to happen. Right. Well, so i said it will introduce a lot more volatility, and i said then you double up. Lets just say the fed does the 10 percent thing and hikes. The question i think investors have to ask certainly in the longterm how does that change your overall output for the half of rates . I dont know that it changes it very much. We are talking about whether or not a quarter point comes in september or december. Clearly the market would get freaked out. I dont know the number in terms of the correction, but it would be very volatile. You want to buy that because rates are going to stay lower for longer. Theyre going to gradually go up, and theyre still low. Especially by historical comparisons. I think its something that sarat alluded to. If they did go next week, it would seem to me that the market may second guess its ability to read the fed. The mark has been leading the show here. Not only that. Is the fed not want that clash . The fed sees the marketed as an instrument of its policy. I believe if you ask your average fed person, they would say that the reaction they want from the market on the day of the announcement is zero. They dont want to it up. They dont want it down. They would like the market to perfectly price in its own reaction. If they dont go next week, would it surprise anybody if the stock market, you know, goes higher . Right. But the idea that somehow the stock market is acting as a unified entity in this game and somehow expressing its views monolithically is wrong. The market is reacting the way its reacting as a result of gazillion different buys and sells, and thats how they arrive at that reaction. John would be happy if they did go. They would do really well next week. Buy the vix today at below 16 . I think to stephs point, yes, you do. You put on vix call spreads here just in case because that 10 is actually, i think, a bigger chance than 10 . I think you look at the financials that are showing really, really strong relative strength and positive price action because those are stocks that are rallying even as the odds of the rate hike have been decreasing. Go and take a look at cme. This stock is a monster. 40 off its 52week low. 17 above its 200 day. Got an rsi of 69. This is where all these rate bets are being placed. You get a vix with a lower risk play. Even a few more dollars in your pocket at the end of the day the vix the other one 110. First, the vix is going to end up mean reverting. Second, the products that are made based on the vix, you cant actually buy the vix itself are in my opinion subpar products. Certainly not good for investors. Although a handful are good for traders. I wouldnt even look at those at all, period. I think the interesting point that you are also that im also going to make, that coincides what you are saying make it quick. Its going to see rotation out of the bond subtutstitutess. Thats what you are seeing now. We have to pay some bills. Were going to get back to the apple. That morphed into banks. That morphed into the fed. That morphed into the market. Yes, when we come back, the apple sfoer, the other names you can play on the back of its big rally will do it next on the Halftime Report. Whats the value of capital . Whats Critical Thinking like . A basketball costs 14. Whats team spirit worth . cheers whats it worth to talk to your mom . Whats the value of a walk in the woods . The value of capital is to create, not just wealth, but things that matter. Morgan stanley experience the thrill of the lexus is f sport. Because the ultimate expression of power, is control. This is the pursuit of perfection. Were back on the Halftime Report. Were back to one of our top stories today, and that is this incredible run that apple has had. On pace for its best week if some five years. We were saying it was up week to september 11th 1 , and the prevailing thought appears to be on this set today that its justified, its not too far too fast, and that it can continue. Thats from everybody who has some sort of ownership stake either through options or equity. I worry that at some point its going to hit the 120, 125 wall like we had before. I think all the news will be baked into that point, and then people are going to look forward. Once you get all the news out, as to the samsung getting back to some type of normalcy, where do you take the next leg, and where do you break through . You really think samsung will get back to that normalcy any time soon . Right . A million phones recalled. Talking about this at the very time the 7 goes on sale . Today. Not everybody buys an iphone. Not everybody can afford an iphone. Theres only a certain market where you can spend 600 or 25 a month. Now you have the carriers doing the subsidies again. Its here. Its big news. If you own that market, its a good market. I think when they look at india, they understand that. Theyre not going into a 700 phones. I agree with you that theres only a certain market, but, hey, what if you got 80 of that market . Its pretty good. It is very hard to move this big needle. We will get that rally because you have a lot of investors coming in again, but how do you grow 600 billion company . Important to point out, though, that stocks flat over a year, and its down going back to christmas time 2014, so its not like were talking about an 18 move from an alltime high. If you actually look at, lets say, threeyear performance grapple, basically its like a dividend, and nothing else. Yeah. The apple supply chain has been ripping as well. Its not just apple shares that have been in rally mode. Dom has a look. You have a lot of names on your list. We do. There are so many suppliers that apple discloses on its own website that really contribute to its whole product ecosystem. Here are some of the names that are perhaps more levered and maybe not so much to the apple iphone. If you look at sky works solutions, big part of the chip picture, they make the radio frequency, the rf chips that go into many of these mobile phones. Up 14 . Apple up big. Up 11. Theyre up 14. Sirus logic does the audio chips. These two companies have a lot of business with apple. Then you talk about contract, service makers, those manufacturers like Jabil Circuit i nvesense does the motion sensors that gets it to flip your screens and what not. All of these stocks are part of that apple ecosystem, and i will point out again, guys, that skyworks and sirus logic stand out big because they are the ones more levered to the whole apple product cycle. Theyre the ones that get a lot of business from apple themselves, guys. Back to you. You hang with us while we discuss. You own invidia, and you have been hitting in a one hard. Im just going to say, first of all, semiconductor holders, etf, smh is up 6 this week, and there are a lot more components that have nothing to do with the iphone. Its a bigger story than at the top. Im not so excited about the cell phone ecosystem. Sfwlool you have number of names in this supply Chain Universe . Avago or broadcom, thats the one i own. They only have 10 exposure to apple. Its nice, but its not a needle mover. I just like the combination between avago and broadcom. The synergies and the sfakt that the stock trades when the group trades at 19 times, i dont think thats justified. I like it for the apple exposure, but i also like it for other things as well, and so thats one of my you have been adding to avago. Yeah. Sarat, you own a number of tech names. You like invidia. I like it for all the reasons he said. Its a different play. It has the 3d computing. Sflie worry this retreat coming could be faster than people expect . Sky works . Yep. Both of those, and we aggressively wrote calls at the Double Nickel 55 strike at the 75 strike. I think in skyworks. You were collecting about a 10 premium. Many of the folks on twitter are asking, judge, which strikes telling you specifically which strikes. Im telling you if you are collecting 7 on a 75 stock, thats buying 10 down side protection. Youre still in the particular stock, and extending out the game into 2017. In other words, youre not paying the tax on it now. Taxable or nontaxable accounts like iras, 401ks and the like. Those you dont have to worry, but the others we worry. We push it tout 27. Dom was looking at week to date performance. Theres some sweet moves even longer than that. Oh, no. If you look quarter to date, you got sky works up 19. Cirus 38. Avago 9. 5. Intel is nice. Invida 33. 5. Sky works you can talk about a stock thats pulled back and then kind of gained off those lows. Sirus logic is rup 82 yeartodate. Its been a steady climb. Theyre the audio side of things. If you are talking about the no headphone jack, the air pods,ing is that what theyre called right now . The things you stick in your ear for the iphone . Thats a big beneficiary. Just to point out, guys, for a lot of these companies, theyre their own management will tell you its not just about apple. Even though we know that for a company like cirrus logic, twothirds, threequarters of their revenue comes from apple. For sky works its a large chunk, but they will always try to say its other businesses that will help drive us in the future. Theyre specifically talking about things like internet of things, the iot where everything needs a wireless device to connect it to something else, and thats where sky works thinks that a lot of the future growth can come from for them. For these guys we talk about them as apple suppliers because they are. They get a good chunk of business, but overall some of these guys are trying to diversify at least a little bit away from apple. Ina 90 over the period. Amd. Apple is doing a lot of its own chips, and theyve publicly stated they want to do even more. You better be talking about diversifying. Thats like thats like the mvp of the new phone. Thats an apple chip. All right, guys. Good stuff. Approaching 12 30 on the east corey. About 30 seconds away. Heres where the markets stand. S p 500 down nearly nine points. The Dow Jones Industrials are off 76. That sits at 18,136. Nasdaq is under a little bit of pressure today as well. Albeit light. 7 points to the down side. 5242. Lets do our trader blitz. Go pro initiated with a buy rating, and that is at bank of america. 19 price target. Yeah. With the market doing a 72 point swoon, but an easing of what fourtenths or half a percent, seeing this move by 60, 70 cents or holding on to it, pretty interesting. Good for them. Josh, Credit Suisse outperform. The stock has been a horse. Its been caught up in the updraft with all the other Consumer Staples names. Its now a 20 multiple. Probably too expensive to be a p. E. Target. Not a big enough yield here. Ill pass, but congratulations to people who have been long for a couple of years. Steph, lets talk amazon. Evercore goes to 1 1,015. Rbc, mark mahaney goes to 1,000 on the price target. Whats stephanie links price target . Its going up. I dont know. I dont have a price target. I still dont 2,000. Sure. That sounds good. I thought marks note was very interesting because he has done some survey work, and its showing that theyre actually gaining momentum. Not only in the u. S. , but internationally. Remember, they have been really focused on prime growth here in the United States. Around 49 last year. Thats now starting to take traction overseas, and prime members spend double or triple the amount versus a regular customer. Then, of course, you have the cloud store story. I still like it. I do think its going higher. We touched on this earlier. This Deutsche Bank penalty asked to pay 14 billion to resolve the u. S. Probe into mortgage securities. As if this needed another hammer. You needed to put, you know, oil on the fire. What does it mean . It means you stay away. Especially the european banks. There is so Much Negative news coming out. They have their Brexit Issues to deal with and the european issues to deal with. All of them are here in the mortgage mess. You stay away. The government is going to have to do something in germany. Doc, give me school me on no no novavax. They were rolling out to the nine strike, i believe, in october. I bought those nine calls. Sold the september nines against it. They had two clinical trials, judge, that just did not meet the end point for that reason. The stock just slammed to the down side. Thats today . You tried to get out today, and you couldnt. Cant even get out because theres not a bid for the nine calls out in october, and its understandable. Right . It happened last night. After hours last night this thing was getting crushed. And its basically still on its back right there. Thats one of the reasons you trade options, though. Guys. Not because hold on one sec. Sell all of my novavax. Okay . You do it, scott, because you lose 1. 30. That was the net price that i paid for that spread. It would have been 35,000 if i held the stock instead. An interesting call from goldman on a Regional Bank thats been under fire on this very program. A month after a quick 10 rally, the stock loses steam. The s p 500 even worse. The lesson . Beware. For more on all things apple, go to cnbc. Com pro. More halftime with scott wapner coming up. When whirlpool builds an appliance, they put everything they know into it. But once its sold, there usually isnt a way to keep improving that product. Today, whirlpool can analyze iot sensor data from connected appliances on the ibm cloud. So they can continuously learn how customers are using their products. And how the machines respond. Harnessing data to make great products better thats what the ibm cloud is built for. Remember here at ally, nothing stops us from doing right by our customers. Whos with me . Im in. Im in. Im in. Im in. One, two, wait, wait. Wait wheres tina . Doing the hand thing . Yep we are all in for our customers. Ally. Do it right. We are back on the Halftime Report. Comerica has been on a tear of double digits yeartodate. Now Goldman Sachs sees an upside. Weve made it our call of the day. You like the stock, but you recently sold it. It had a nice run, as you just mentioned. I swapped it into zions, and thats a name i like an awful lot. Both of these stories are similar, by the way, and that they have a lot of cost cutting they can go. Theres a lot of overhead and fat in the system. With comerica, you have potential for m a. He actually thinks the ceo any kind of change there might also be a positive im not so sure about that, but theres a lot that you can get right here for the stock to work. He has a 53 price target. They, goldman, on the conviction buy list has a 52 price target. They both like the stock for Different Reasons perhaps. What about you guys . I mean, i dont own that stock, but i own a bunch of the regionals. I think this is an area if you like certain banks, these guys do, theres a lot of potential. He this all trade below market multiples and in line with book compared to where they were five years ago. If the market does go the way of the financialfinancials, and yoe type of improvement in housing and increasing in housing where you see rates move. This is an area you want to be. You just want to pick your spots. Overall its where from football to Business School to broadway to asset management. Were speaking with fourtime pro bowler and heisman winner eddie george about mastering life after football and why he chose to get into finance. Plus, an under the radar energy stock option traders are betting big on today, but, first, my man Tyler Matheson with a look at power. Coming up at the top of the hour on power financials under fire. Wells fargo shares taking a hit yet again. Will other banks get caught up in if the mess . Apple cooking again. Iphone 7 fever full effect today. Has the tech giant got its mojo back . And talking about football, scott. New york jet wide receiver Brandon Marshall is in the house. Football business and beyond. More halftime after this. Guys, whats happening here . Hey nicole, this is my new alert system for whenever anything happens in the market. Kids a natural. But thinkorswim already lets you create custom alerts for all the things that are important to you. Shhh. Alerts on anything at all . Not only that, you can act on that opportunity with just one tap right from the alert. Wow, i guess we dont need the kid anymore. Custom alerts on thinkorswim. Only at td ameritrade. Now that fedex has helped us we could focus on bigger issues, like our passive aggressive environment. Were not passive aggressive. Hey, hey, hey, there are no bad suggestions here. No matter how lame they are. Well said, ann. Ive always admired how you just say whats in your head, without thinking. Very brave. Good point ted. Youre living proof that looks arent everything. Thank you. Welcome. So, fedex helped simplify our ecommerce business and this is not a passive aggressive environment. I just wanted to say, you guys are doing a great job. Whats that supposed to mean . Fedex. Helping Small Business simplify ecommerce. Its a very specific moment, the launch window. We have to be very precise. If were not ready when the planets are perfectly aligned, thats it. We need really tight temperature controls. Engineering, aerodynamics a split second too long could mean scrapping it all and starting over. Propulsion, Structural Analysis Maple Bourbon caramel. Thats what were working on right now. From design through production, Siemens Technology helps manufacturers meet critical deadlines. I think thisll be our biggest flavor yet. When you only have one shot, you need a whole lot of ingenuity. But your time is over. Had a good long run. Its time for something new, something simple. Grown right here in california with absolutely no antibiotics ever. Food were comfortable eating, making, serving. This is the new comfort food. And it starts with foster farms simply raised chicken. California grown with no antibiotics ever. Lets get comfortable with our food again. Im sue herrera. At a Campaign Event at his new hotel in washington d. C. Donald trump publicly admitting for the first time that president obama was born in the United States. Heres the president s response when asked about the issue at the white house. Im shocked that a question like that would come up at a time when we got so many other things to do. Im not that shocked, actually. Its fairly typical. We got other business to attend to. I was pretty confident about where i was born. Two palestinians rammed their vehicle into a bus stop in the west bank today wounding three israeli civilians. Israeli forces killed one, wu wounded the other. A jourdardanian national was ki after he tried to stab police officers. The duke of cambridge jumping to the rescue of an elderly dignitary after he slipped on wet pavement, toppled over backwards during a royal visit at Stewards Academy hall in harlow. The dignitary was unhurt. All right. Thats the news update this hour. More Halftime Report in just a minute. Americans are buying more and more of everything online. And so many businesses rely on the United States Postal Service to get it there. Because when you ship with us, your business becomes our business. Thats why we make more ecommerce deliveries to homes than anyone else in the country. The United States Postal Service. Priority you whmade plastics that tmake them lighter . Rs the lubricants that improved fuel economy. Even technology to make engines more efficient. What company does all this . Exxonmobil, thats who. Were working on all these things to make cars better and use less fuel. Helping you save money and reduce emissions. And you thought we just made the gas. Energy lives here. Sometimes they just drop in. Always obvious. Cme group can help you navigate risks and capture opportunities. We enable you to reach Global Markets and drive forward with broader possibilities. Cme group how the world advances. Am. Welcome back to the Halftime Report. Im jackie deangeles. Talking oil today. Down about a buck. Sitting just under 43 a barrel. Jim, why the negative sentiment today . Well, the supply story is pretty broad and specific. Its iran. Its libya. Its nigeria. Thats weighing on things. Now, we also had the e. I. A. Talking about the man taking down last week. Thats the part that im suspect of. I think currently we are predicting demand. The market is pricing in demand to tail off. We dont have a lot of proof that thats happening. The thing that concerns me the most, though, is i think when we get to the low 40s, thats what the saudis could potentially jawbone again because thats where they feel the heat. I move my objective from 31 to 48. Want to get your take on how low it can go. Do you feel the 30s in the future . Well, jackie, with that nice little haircut euro has going, i think he is right. We go down and test that august low level. That 40. Right now this is a process, jackie. This glut, this excess supply we have, this is the process. Were roung bound from 40 to 50. We have the ability to go right back up. Us traders in chicago, as well as across the world are enjoying the volatility in the crude oil space. Loo in the meantime, for more on futures, head to the website futures now. Cnbc. Com. Were back with a live show at 1 00 p. M. Eastern. Over to you. Well be there on tuesday. I like jackies hair too, by the way. He was talking about urios hair. I like jims hair. You do like kilburgs hair . Sure. Can we get off the hair . You got unusual activity . Nothing to do with hair. Parsley energy. P. E. Is the symbol here. They were aggressively buying calls to permeon on the fracking side. Theyre aggressively buying calls at the october 35 strike. About seven times the open interest. Theyre betting on it going up. I bought them today. All right. Ahead on the Halftime Report, former nfl running back turned money manager eddie george has moved from football to finance is next. Opportunities arent always obvious. Sometimes they just drop in. Cme group can help you navigate risks and capture opportunities. We enable you to reach Global Markets and drive forward with broader possibilities. Cme group how the world advances. Hey hows it going, hotcakes . Hotcakes. This place has hotcakes. So why arent they selling like hotcakes . With comcast Business Internet and wifi pro, they could be. Just add a customized message to your wifi pro splash page and youll reach your customers where their eyes are already on their devices. Order up. Its more than just wifi, it can help grow your business. You dont see that every day. Introducing wifi pro, wifi that helps grow your business. Comcast business. Built for business. Welcome back to the Halftime Report. Former nfl running back eddie george may be best known for his nine seasons as a top running back in the nfl, but now hes making a run at his newest passion, in his life after football, being a Financial Adviser. Hes the managing partner of Edward George Wealth Management. He is here live with us. It is great to see you. Thanks for coming on the halftime show. A Beautiful Day in new york. I watch you guys every day. We appreciate that. How do you go from football to broadway to Wealth Management . Well youre a diversified portfolio in and of yourself. It was actually about two years ago, i left commentating for a while to watch my older son finish High School Career and during that period, was courted by a couple of guys that wanted me to join their firm and to do the head of their athlete division. I found out what it entailed and getting your license and everything and how much time i have to put into it. And i said, well, you know, let me look at tit. I talked to my partner, and i told him about it, i said, i think im up to the business. He said, okay, lets do it. The firm sponsored me, got my series 776 license while studying for chicago to go on broadway. Did all of that last year. My brain was fried. But now it is a wonderful business to be in because if i do it right, i could have the quality of life, i see my sons play, build a business and leverage my network. Was any of the motivation due to your own personal experiences as a player dealing with your own finances or whoever dealt with your money . Absolutely. I mean, it really spurs a lot from that. When i went to Business School, one of the things i learned is you follow your passion. If you follow your passion, the money will support that in terms of your career. So i wanted to help other athletes, you know, find their Financial Stability from the beginning, the middle and the end because ive been through a lot, made a lot of mistakes. I through my money, business deals that never that never show any return, didnt get my principle back. I want to help those guys eliminate a lot of the mistakes and certainly after the game, manage their financial careers but also help them support them as they try to find themselves after the game. You describe what is happening among athletes as the blind leading the blind. You find it in the locker room, a lot of guys are talking to each other, asking for each other for various for financial advice, some guys dont even know the difference between a Financial Adviser and agent. And their cpa. And how you should have chinese barriers set up between all of them. You dont necessarily want your agent in your financial business. Do you watch ballers on hbo. Yeah, yeah, the exact thing. You should be on the show. I am. So you have to watch the last episode, but it really it really is something that young kids coming out of college that are at the schools, they may go professionally, that they need to understand and know this stuff. So thats the main reason why im in it. And im not just dealing with athletes. Im dealing with other fine institutions, High Net Worth individuals, people with money, you know, so it all kind of worked itself out. Im really excited about it. Were going to take a quick break. Stay with us. More on the other side. More coming up with eddie george on the Halftime Report and final trades before we get out of here for the weekend as well. Its scary when the lights go out. People get anxious and my office gets flooded with calls. So many things can go wrong. Its my worst nightmare. Every second that power is out, my citys at risk. Siemens digital grid manages and reroutes power, so service can be restored within seconds. Priority number one is keeping those lights on. It takes ingenuity to defeat the monsters that live in the dark. Remember here at ally, nothing stops us from doing right by our customers. Whos with me . Im in. Im in. Im in. Im in. One, two, wait, wait. Wait wheres tina . Doing the hand thing . Yep we are all in for our customers. Ally. Do it right. We are all in for our customers. Tell me, how do you like to learn . Songs are my favorite ooh elmo likes songs puzzles me love puzzles. Well. Puzzles are a great memorization too dinosaurs yess puppies ooh i love puppies so do, i. Actual. Pets can teach important lessons abou dancing elmo loves to dance. Okay then, lets dance. everybody cheers yeah baby were back on the Halftime Report with eddie jrnlg tageor talking about his transformation from football to the market. How closely do you follow the market . I follow 40 different stocks from the different sectors, following maybe under armour or apple, whoever seems appealing at that moment. But just really get my eyes used to seeing the stocks, the numbers, stay informed, watch cnbc, watch the experts on this panel. And try to make intelligent decisions. I didnt put two and two together until you mentioned it yesterday. You went to high school with kevin plank. Yes, we went to fork military academy. Funny story, he always got in trouble for one. Always marching, doing tours and everything, he went quite the entrepreneur he was back then. So he goes and starts under armour in 1997. And i get a phone call from him, and he says, would you be willing to wear my shirt. I said, sure, absolutely. It was 97, we played the Oakland Raiders opening day in memphis. Long story short, i rush for opening day record, 216 yards, and i wore that same shirt ever since. He asked me for a personal investment and i said, you know what, ill wear your short, but im endorsed by adidas, during the commercials, good luck with your business. And now we see where he is today, yeah. So, no, hes a phenomenal man. Really good friends with him today. And im just really impressed with what hes done with his company. Hes been amazing. Yeah. For sure. We cover it all the time. What did you think of the twitter broadcast of the nfl game last night . Is that the future . You know what, it may be the we talked about it at dinner last night. I was at the subway going back to my hotel, got online, i said, i cant find the game, it was on cbs. Twitter, twitter, on the subway on the e going down im watching the game. Im, like, this is a winner. It is great. I like it. The clarity was good. The quality was impeccable, great. The broadcast was good. We had some dialogue in terms of, you know, how it could be enhanced with, you know, athletes, current athletes commenting on the game. But i think it can do really well in the market. I really do. It has been great having you. Man, over that fast . I know. Youve done tv. Clock ticks twice as fast. I know. Its good. Thank you for having me. Have a great weekend. Thank you. Thank you very much. Congrats on your success. Appreciate it. Keep us informed en what youre doing as well. Eddie george with us. Following the markets now, everybody, have a great weekend, thank you for watching the program. Power lunch begins right now. Im brian sullivan. Buckeyes going 18 the rest of the season. Im kidding. Here whats on the menu. Big banks under fire. Wells fargo investors losing money again today as the stock slides. The question is, will other big banks also get caught up in their own scandals . Twitters touchdown, shares surging after last nights nfl streaming debut. Should the rest of the tv world be afraid or a one hit wonder . Speaking of touchdowns, were talking about the new marshall plan. New york jet wide receiver Brandon Marshall is in the house. Coming up, their big win in buffalo last night. Power lunch kicks off right now