Choice. Will be so good for detroit. We will also give our police and Law Enforcement the funds and support they need to restore law and order to this country. Law and order. [ cheers and applause ] thank you. Thank you. Without security, there can be no prosperity. Without security, there could be no prosperity. We must have law and order. We must have law and order. [ applause ] and by the way, our police in this country are really unrecognized for the incredible job they do. Thank you. [ applause ] in the coming days, we will be rolling out plans on all of these items. One of my first acts as president will be to repeal and replace disastrous obamacare, saving another 2 million american jobs. [ applause ] we will also rebuild our military and get our allies to pay their fair share for the protection we provide to them, saving us countless more, billions of dollars, to invest in our own country. [ applause ] we also have a plan on our web site for a complete reform of the veterans administration. This is something so desperately needed to make sure our vets are fully supported and get the care they deserve, which they have not been getting, not even close. Detroit, the motor city, will come roaring back roaring back. [ cheers and applause ] we will offer a new future, not the same old failed policies of the past. Our party has chosen to make new history by selecting a nominee from the outside and thats outside of the very, very already proven rigged system. The other party has reached backwards into the past to choose a nominee from yesterday, who offers only the rhetoric of yesterday and the policies of yesterday, just take a look at what happened to new York State Manufacturing and take a look at her promises before this happened. A disaster. There will be no change under Hillary Clinton, only four more years of weakness and president obama. But we are going to look boldly into the future. We will build the next generation of roads, bridges, railways, tunnels, seaports and airports. That, believe me, folks, is what our country deserves. American cars american cars, will travel the roads, american planes will connect our cities and american ships will patrol the seas. American steel steel, american steal, wiel will send skyscrapers across the country, well put new American Metal into the spine of this nation. It will be american hands that rebuild this country and it will be American Energy mined from american sources that powers this country. It will be American Workers who are hired to do the job. American workers. Americanism, not globalism, will be our new credo. Our country will reach amazing new heights. Maybe heights never attained before. All we have to do is stop relying on the tired voices of the past. We can fix a rigged system by relying on the people who and just remember this, so important we are reliant on people that rigged this system in the past. We cant fix it if were going to rely on those people again. We cant solve that problem. [ applause ] so we cant solve our problems if were going to just go back and rely on these politicians because thats what weve been doing. Only by changing to new leadership and new solutions will we get new and great results. We need thank you we need to stop believing in politicians and start believing in our great country. [ applause ] before everything great that has happened, the doubters have always said it couldnt be done, they said it right now, it couldnt be done. They actually said it when i ran for political office. Not going to happen. Heres never done it before. It happened. America is ready to prove the doubters wrong. They want you to think small. I am asking to you think big. We are ready to dream great things for our country once again. We are ready to show the world that america is back bigger and better and stronger than ever before. Thank you very much, god bless you, thank you. Thank you very much. [ applause ] thank you. Donald trump concluding what was roughly a onehour long speech laying out his economic plan in front of the detroit Economic Club. Lets get to john harwood, who is on the ground in detroit. John, the four themes were tax, trade, energy, and regulation. And this was a speech that was interrupted multiple times by apparently wellcoordinated demonstrator demonstrators. Reporter yes and donald trump showed good discipline in not letting him throw off his speech. He paused, the demonstrators were then moved aside or quieted in some fashion. I couldnt see exactly because were outside the hall of course. But yeah, he went on and the ov overarching themes was America First and not globalism. He talked about american hands building the cars and airplanes and roads and americans being hired to do those jobs, familiar prescriptio prescriptions, rewrite trade deals. He said we cant be isolated, im for trade, but we will pull out of nafta if it wasnt substantially brought up, and feels very strongly. The news we got in the speech were two things. One, he said there was going to be as we previewed early this morning, ductability for childcare expenses. He said it would be a families would be able to deduct the average cost of childcare. Didnt give details, didnt say its refundable of people who dont owe income tax. Thats a big spending item. On the other hand, he moderated the deficit tax plan by raising rates from the 25 excuse me 15 and 25 in his previous plan, and he raised those to the House Republican rates of 12, 25, and 33. So donald trump has revised upward, his top tax break to limit the deficit impact, estimated at 10 trillion over ten years. One of the things you point out thats very interesting on the ductability of what he described as average childcare expenses, that would affect only the minority of individuals who deduct expenses on their taxes to begin with, right, john . Reporter well, my we dont have details. I suspect he would make that a universal deduction thats available for people even who are not itemizers but we dont have the details on that. Yeah, okay. Reporter the biggest news was, as larry kudlow said, his new top rate is no longer 25 , its up to 33 , which matches the paul ryankevin brady plan. I expect to hear from larry later, maybe well ask him that question about how that deduction would work to the extent it has been figured out. John harwood in detroit, thanks. Lets bring in Steve Liesman on this. What is the deviation between what trump is saying and what the consensus economists believes the impact could be . Before he changed the tax number, it was about a 10 trillion gap in the expectations they expanded the deficit by 10 trillion over ten years. This moved from 25 to 33. My guess is all of these places are now costing it out, but they have to add in the cost of infrastructure, which donald trump has said he was going to double it. It looked like he backed off that a little bit, in terms of talking about building roads and bridges but also the expense or the cost of the childcare that hes talking about, that would be added to it. And i dont know that public is going to vote on deficits this time around. Certainly the democrats dont have a lot of leg to stand on. Obama would add a lot of the deficit was created by the downturn, but certainly they have a large exception and whether that matters to the public, what the economists are saying it adds 10 trillion. One group said it costs the recession, the other doesnt. I was struck by the imm acura listic vision. I did a search, the word internet is not in there, neither is the word technolo technolo technology, and he said Hillary Clinton is the candidate of yester year, theres the visiting past of the economy and people talking about, well, really this is a postindustrial economy in the u. S. And that cat is well out of the bag here. But hes speaking to the people there, in ohio, and in pennsylvania. Fair enough. Hes not you can sell them that vision. Yes, but thats what thats what you have to do. Hes not speaking to us. And i dont know that its powerful. What i if its politically powerful or going to work politically, i do know a lot of economists would roll their eyes at going back to that and if you want, you can put the tariffs on that put the Japanese Cars from coming in or the cars from mexico which guys like zandy would say that creates huge economic disskprecrepancy. Maybe something over time. Im speaking over somebody who has goes to the Upper Peninsula of michigan. I know a lot of people from michigan. I spend a lot of time in warren, ohio, and these types of places. Hes speaking more, i think, to Companies Moving the ford cars being made in mexico, the dodge dart being made in mexico now. Right. The foreign auto makers have created a tremendous number of jobs in the united states. Exactly. Alabama is almost a new but theyre nonunion. Thats a separate issue from what Donald Trumps talking about. Also, donald trump spoke to docthe talked about 160,000 jobs being lost in detroit since 1993, and over the time has created some 30 million jobs. But not in michigan. But not in michigan. Youre right and im right essentially. This speech was directed at michigan, and pennsylvania, and wisconsin. And ohio. And ohio, and those are the four states that are probably going to remember did the election. Right. Thats what this speech was all about. And he talked about coal, as weve done a lot of reporting in energy, the coal business is hurt by regulation, but its more hurt by lownatural exactly. Energy prices which is an offset of fracking. More Oil Production that hurts coal. That was a nail in the coffin for coal. One other point, which is were waiting for these details. I thought it was interesting. He had an awful lot of time and i thought maybe at least half the speech very detailed what he believes to be the shortcomings of the current economy, but really lacking in detail for his own policies and plans. Theres some stuff out on his web site. Its been scored. But in terms of the greater detail on closing the gap and other aspects of the plan we dont have it. Id like to know if there were more protesters or more uses of the word disaster. Disaster did come up a lot. It did. You are looking right now at right now youre looking at us. Hi. That is trumps economic team. One of his members of his team, Peter Navarro joins us now, a professor of economics at california irvine. You heard steves points this was in some ways, even though he criticized clinton as politics and ideas of the past some, of this seemed to be directed at the economic past of the united states, your response . I dont think Steve Liesman quite gets it. Lets talk about detroit and lets talk about mexico. Heres whats going on. The last couple years weve had gm and ford send about 5 billion worth of new investment down to mexico. Assembly plants, creating thousands of jobs in mexico. Should those jobs have stayed in michigan . Yes. Why didnt they . Well, for a couple reasons donald trump identified right in his speech today. Weve got a very high tax Corporate Tax rate, highest in the world, so that pushes these corporations offshore to china, or down south to mexico. Donald trump lowers the Corporate Tax rate, thats an incentive to bring them home. More subtly i get that. Steve, i didnt interrupt you. Youre correct. I just want to make sure that i get that. Youre living in a world where youre not seeing the big picture. This was a major speech. This was the reagan revolution in the 21st century, four points of the compass speech on energy, regulatory policies, taxes and trade. Lets do something subtle, cnbc style. That tax, export rebates. When the nafta and bill clinton and hillary lobbied, they created a vat tax, which allowed them to rebate their export their cars into this country. We cant do that because of the unequal treatment because we used Corporate Taxes. Now, why do you guys think we actually have an auto trade deficit with mexico of 52 billion . In other words, we ship 52 billion less cars to mexico than they ship to us. Those are jobs that could be here in michigan if we were sensible about tax policy, tariff policy, trade policies. Fair enough, peter. This is the vision here let me make one other point here. Im going to interrupt you because we cant filibuster the segment. Youve got a good chance to respond to steve. Sure. I think its fair to allow it. I thought it was steve. Ill be the bad guy. I dont really have much to disagree with peter. I think everybody thinks the Corporate Tax system in this country is needs to be vastly reformed and democrats and republicans both agree on that. It is a measure of the sclerosis in our system, one party saying 28, and one saying 25, and i know donald trump is much lower than that at 15. In any event, youre blaming the Corporate Tax system, not nast a not free trade. Its one part of the puzzle here. Whats the question . My question is how do you fix this in a way it doesnt fastva disrupt trade on the one hand and dont americans benefit from the products that benefit in ways that create other jobs and its part of the Creative Destruction and the process and we get a huge benefit even though it does obviously create some pain in having open borders. And i just want to add, peter, i lived in russia for six years that had closed borders and you could see what happens to a society that closes its borders from outside competition and if theres going to be a mistake, id rather see it made on open borders rather than closed ones. Lets start on principles, right . Donald trumps a free trader. He said no isolationism. Ronald reagan slapped 100 tariff on japanese semiconductors because they were cheating, okay . And what happened to that . Wait a minute, but lets talk about whats going on here. Let me answer the question, steve. Okay. What we have here, lets take the south korean free trade agreement. Hillary clinton lobbied ford in 2012, said it was going to create 70,000 jobs and it was going to be trade deficit neutral. Instead we lost close to 100,000 jobs and we doubled our trade deficit with south korea. Now a lot of the stuff that we doubled our trade deficit with was auto that hit michigan directly. You cant tell me thats beneficial to the American Workers, american domestic manufacturers, and it also depresses tax revenue when is we try to fund our government. What Donald Trumps trying to do, steve, its very simple, its trying to cut fair deals. And heres the rule, the trump trade doctrine is no trade deal unless it decreases the gdp and tax rate and if we go to the table with those principles, the threat of tariffs its not an end game; its a negotiating tool. And were gutted here. For the last 15 years weve been growing at half the way we should. If we double that rate with the trump plan, well have all the tax revenues we need to more than offset any tax cuts, wages will once again resume and life will be great again in america. This last 15 years, steve, it hasnt been pretty. Peter, we have to respectful respectfully, peter, i give you the last word. That you havnk you very much. We have to leave it there. Take care. Were joined by larry kudlow, cnbc senior contributor, and informal advisor to the campaign, and jared bernstein, cnbc contributor, and Economic Advisor to Vice President joe biden. Larry, tax, trade, energy, regulation, it was a fourpoint the the themeatic press that felt like it was out of the play book. Reporter right. Let me answer that. Right out of the reagan play book. Thats why its always mystifying to me where many of my dearest friends on the conservative movement somehow dont believe it. Hes following in reagans footsteps. By the way on taxes and so fourth, hes following in jfks footsteps, as well. One of the key points of this speech was to reaffirm his position on these key economic issues, particularly taxes and regulations and as Peter Navarro said, we saw it here, he favors open trade. He seeing the benefits but he wants to have write good deals that help america and he got a standing ovation. The two biggest standing os, the 15 of large and Small Businesses and number two, i favor free trade, i favor trade, but they have to be good deals for america. Those of his two biggest standing ovations. Larry, i heard your favorite word grow or growth multiple times in his speech. It was from your lips to his basically. The other word i heard multiple times was disaster, disaster, disaster. Is the American Economy a disaster . Reporter well, i think i dont know whether we call it disaster. The American Economy has done very, very poorly frankly for the last 15 years under republicans and democrats. This recovery is the worst since world war ii. So as a disaster, i dont know what that word means. Its done poorly. People have not done well particularly middle income people. So i think its quite fair for him to criticize whats been going on. The guy wants change in policies and want to the go back to the reagan model. That worked awfully well under reagan, bush, and bill clinton. When we abandoned it in the last 15 years, we have not done well, thats a key point trump is making. Let me turn to you, jared, i might. We just had a spirited discussion about the south korean trade deal, heavily backed by the g. O. P. , as i recall. Am i right on that, jared . You may not recall it was under bob king and the idea there was they would be able to sell more cars to south korea so Steve Liesman made some good points. I didnt like Peter Navarro saying 100 tariffs, that worked out terribly, and when you hear donald trump talk about 25 and 35 , thats still terrible. Can i say a couple words about the speech and larrys comments . Sure. I get to argue with larry kudlow. The bad news is were going to have the same argument weve been having for so long about the effectiveness of the reagan model or supply side trickledown economics. Its not anything like what bill clinton did. And the problem with what a lot of what i heard today is the numbers just dont add up. Now they dont add up a little bit better than they did before. What im saying is that he takes his top rate on taxable income on the personal side from 25 up to 33. So that instead of losing 10 trillion, hell lose less than that, but hell still lose trillions of dollars over ten years. On top of that now, theres this duct abiliability of childcare, least as i understand, unless he caps by income, its going to let rich people deduct the cost of their opares. Under ronald reagan, the National Debt went from Something Like 25 to 40 and were already north of 70 . We cant do that again. Larry, let me come back to jareds point. We have to leave it here, but i want to drill down to the extent that you know on the deductibility of childcare expenses, is it a deduction that would then how does it work . Reporter as it is currently constr construct constructed, its a deduction and it will be capped by income thats important whats the cap . I cant tell that you because the details have not been worked out. Okay. My good friend jared is wrong. Trump is no longer talking about these tariffs, he said that clearly today, and number three, regarding those bad old reagan years, reagan and clinton and clintons last four or five years were very reaganesque, gave us fabulous prosperity, lets face it. You really dont have the house to tell me about deficits and debt for heaven sakes. My point is this, youre going to create with these tax cuts particularly the business tax cuts for large and small companies, they are going to raise the Economic Growth rate by two to three Percentage Points and the biggest beneficia beneficiary will be the middleincome wage earners and he said hes going to closely with the Republican Congress to get this done. We need to revisit this. And indeed we will. It never works and its exactly what brought us the recession. I want to revisit 30 with larry. I have a feeling were going to be talking about this for a little bit. Gentleman, gre gentlemen, great to see both of you power returns in two. For decades, investors have used a 60 40 stock and bond model, with little in alternatives. Yet alternatives can tap opportunities that traditional assets cant. And even though theyre called alternatives, theyre actually designed to help meet very traditional goals. Thats why invesco believes people should look past conventional models and make alternatives a core part of their portfolios. Translation . Goodbye 60 40, hello 50 30 20. This is my new alert system for whenever anything happens in the market. But thinkorswim already lets you create custom alerts for all the things that are important to you. I guess we dont need the kid anymore. Custom alerts on thinkorswim. Only at td ameritrade. All right. Welcome back to power lunch. 31 minutes after the hour. On bonds, the benchmark treasure, yielding 1. 85 , tyler, very low. Very, very low. Very, very high, you would have to say has been nasdaq. New highs in recent days, but guess what, the most valuable stock in the index, apple has really nothing to do with it. The four tech names you should be keeping an eye on next as nasdaq gives back a little bit today after fridays alltime high. You both have a perfect driving record. Until one of you clips a food truck. Then your rates go through the roof. Perfect. For drivers with accident forgiveness, Liberty Mutual wont raise your rates due to your first accident. And if you do have an accident, our claims centers are available to assist you twentyfour seven. Call for a free quote today. Liberty stands with youâ„¢. Liberty mutual insurance. Hi, everyone, im sue her her. Brushfires continue burning in San Bernardino national forest. More than seven square miles have burned. Some 300 firefighters are fighting that blaze, which Officials Say is only 5 contained. Mud slides triggered in eastern mexico killed 40 people over the weekend. The governor of one of the affected states says k nine of searching for the missing but the number of unaccounted residents remains unclear. Syrias military releasing footage of war planes pounding rubbleheld positions on aleppo after insurgents broke the siege of aleppo. The Syrian Government is trying to repel their advance. And a justreleased study, allowing pharmacists to offer flu vaccines could help prevent the spread of the virus. It found those who lived where pharmacists administered the vaccines were more likely to be vaccinated than those who did not. Thats the news update. Ty, back to you. Thank you very much, sue. For the past couple weeks markets couldnt seem to have broken out of a pretty narrow trading range, dom chooseman looking at the numbers. Its been about 18, 19 trading days that weve traded between a 2 range that means the lowest weve ever gotten and the highest weve ever gotten in those two and a half week span is 2 . As we struggle for direction, heres how the bull bare debate is shaping up to the overall stock market. Why is it important tech financials lead the way . Because theyre the two biggest sectors in the market and were seeing some weight being putted by them at least in the past one month period. Shorter medium turn there. Also improving earnings momentum were not as bad as we thought we were going to be. Well see what happens later on. Junk bonds, high yield Credit Holding up relatively well despite the fact people are moving back. Weve seen outflow from those investments and you contrast that to the bearish side of the equation, youve got q3 earnings, the expectations there is theyre going to be negative again this time around, so perhaps earnings not as buoyant as we thought they were going to be. The lowest stock market volatility, may be too much complacency in the marketplace, thats also a bearish i understand cindicator, and all f this just part of the overall picture. Theres not enough space to go over the entire bullbear debate. As we struggle in the marketplace, some of these items will be huge going forward. Back to you. Thank you, dom. The tech heavy nasdaq slightly lower. Lets bring in doug mckay, president and cia of broad leave partners, and jason ware, ceo. We have seen in the past month is sort of a broadening in terms of the leaders of nasdaq. Weve seen apple pick up at 12 , and biotech also participate at this point. What has changed in your view and does what has changed, does that have staying power in order to make tech investors a little bit more optimistic . I think a lot of it has been frankly the reversal in Energy Prices for whatever reason, as Energy Prices have come back down, its a sign perhaps the more cyclical areas, the caterpillar tractors arent as healthy and money is kind of rotated back to the areas that can grow regardless of the economy or the political environment. Jason, your thoughts on whats changed and why theres been sort of an expansion of leadership . I think the rally weve seen has been grounded in betterthan expected q2 earnings reports. Weve had a string of technology bell Weather Companies like microsoft, amazon, facebook and google that reported earnings better than expected and gave pretty decent outlooks, as well. After the first half of the year where tech under performed the broader market, investors may be getting a little bit weary. They moved to other sectors in a more defensive posture and what weve seen with q2 is maybe things are a little bit better than the street and investors at large expected. Thats interesting. I think thats whats ignite today. And we have seen money flowing in to some of the big tech stocks that have dividend yields, so perhaps this may be viewed as fullypriced yielding stocks and tech stocks. I found you yourself are getting more bullish of apple which could fall into the category of quote unquote value with the dividend in the tech sector. Apple was kind of neutrally rated in the last year so theyve gone threw these product transitions but the quarter was pretty telling for two reasons. One, tim cook stressed the fact that services business, the app store, was a significant, almost fortune 100like type Company Growing at a significant pace and that suggests their business is becoming more software oriented than hardware, and are two they showed an ability to generate good profits in spite of revenues being down. And that i think keeps the value guys interested ahead of what will certainly be a good product cycle. Jason, you and doug both like facebook but you also like a stock that may not necessarily be viewed directly as a tech stock and that would be visa. Why doe you think visa falls ino this category and what is it that you like about this stock . Visa is an assettechnology company when you think about the beach heads they basically put into the market to diagram naom cash to cashonly society. With regards to this technology se segment is we want secular businesses with great crash flow, theyre basically operating in a did yuopoly with mastercard, from a Crash Society to an Electronic Payments whether its mobile, credit cards, et cetera, and visas executing and performing against that back drop in a way that certainly makes a compelling investment. We think the integration with visa europe will be a creddive to their margins the next 12 to 18 months. Its a lot to like. All right, good to see you. Doug mckay, jason ware. Lets get a check on your markets and your money. Bob down at the stock exchange. Reporter and intra day highs, weve got two things helping the market, number one, follow through for the jobs report more importantly, crudes up almost 9 and thats when the market started turning around. Energy stocks are a new market Leadership Group up about 4 1 2 , overall part of the s p 500 and look at these energy names, two, three, four moves like a patchy and conoco, and slumber j, and also on the upside, drillers have been particularly strong in the last couple days so atwood, or seadrill, or ensco, up 7 or 8 . The other thing helping the market, you mentioned the technology stocks. Its important four of the five biggest names in the s p 500 are all tech names by market capization exxon is number five right now. Facebook had almost bigger market cap than exxon. You could have said all five of the Biggest Companies in the s p 500 were tech companies. You know what were miss something weing . What we need to see is to get 300, 400, even 500 new highs. Right now were in a range being helped by those tech names, as well as the small group of owl companies, back to you. Robert thank you very much. Up next were going to talk about oil, botox and massive flight failure. The good, the bad, and the ugly, when power lunch returns. Where we explore. Protecting biodiversity. Everywhere we work. Defeating malaria. Improving energy efficiency. Developing more clean burning natural gas. My job . My job at exxonmobil . Turning algae into biofuels. Reducing Energy Poverty in the developing world. Making cars go further with less. Fueling the global economy. And you thought we just made the gas. Energy lives here. Welcome back to power lunch. It is official walmart will buy jet. Com for 3. 3 billion. Well have much more on this deal during tomorrows cnbc exclusive interview with walmarts ceo, doug mcmillon. He will be on squawk box, as will brian sullivan. Mcmillon will be there at 7 00 a. M. , bryan will be there at 6 00 a. M. Ill be there for make up. Saddle up, its time to hit the good, the bad, and the ugly. Murphy oil, one of the best performers in the s p 500, up by more than 3 . The stock has gained nearly 30 this year alone. As for the bad, shares of allergan and its an ugly day for delta, not the stock only down by. 4 , but for its passengers grounding thousands of flights worldwide. Theyre slowly coming back online. Well have a live report in just minutes, bri. As you probably know, if you dont, here you go. Short tellers make money when a stock falls but when a stock starts to do well, it can send short sellers buying back the stocks sending those stocks soaring. Case and poiin point today, mat firm, more than doubling up at 114 after being bought out by a South African company, no doubt many short sellers got creamed and are under their desks crying right now. But this is not only the heavily shorted stock doing well lately, mallinkrout, and helmerich and payne, almost up 20 this year. Is short selling as may macro strategy all but dead, i floated that question on squawk box this morning and for some reason, Herb Greenberg maybe never went to bed coming back from a rave wrote this, memo to my pal, sully, your questions dead because of firm, no, hint, the stock have been halved over 12 months, and herb joins us to discuss. The first question is, herb, what were you doing up . It was 6 30 eastern when i said that. I was up at fo4 00, you know that. I get up just to see you. Marriott, thats done well. Do you think its one of the most difficult shortselling environments that you can remember . I think there are others that were probably more difficult than this. If you talk to any short seller theyll tell you as long as Interest Rates are low, you can have the one thing thats sort of the wild card that can get in the way of the fundamental thesis and that is an acquisition. I like to think maybe everything from ali back a and Concordia Health can be acquired. I also look at these things. You mention mattress firm. Someone made a lot of money all the way down. Mallankrout, we were pointing out issues when the stock was 1117. We stopped covering when it was down 50 or so. There are issues in there, and but i have always said, ever since questcore was acquired by mallankrout, a variety of issues around their stock, and then Green Mountain, which we had red flagged, which had come down 50 , which we felt was even worse when it was lower, got acquire at a Super Premium like this mattress firm. Drop some knowledge at the audience. Lets say you hate a stock at 100 and you listen to the Herb Greenbergs of the world and you short the stock at 100, you borrow it, your carrying costs arent too high. The stock loses what percent before you realize, dont get greedy. When a stock goes down in value also is the cost to acquire those companies. Theyre a lesson in Green Mountain and mattress firm. Theres risk in shorting. Anyone will tell you shorting is extra ordinarily difficult as a pair trade or against something else, thats just of the risk out there and you have to accept that if youre going to do it. Bryan, is your assertion being short a stock is more risky than being long a stock . It is yes, it is because your losses if youre short are theoretically unlimited. Infinite, because a stock could go from 1 to 1 million. But in terms of the initial pop listen on, youre on fast money, 5 00 p. M. Traeastern. I hear from all of them, theres a lot of crummy companies out there, i cant find the shares to borrow, or its expensive. People are moneying aaning, and. And i hate the fact, betting against it, doesnt seem very american and all that, however, the guys that we used to talk to, the david rockers, jim chanos, they were doing good accounting and undercovering fraudulent companies. There is a value to it. Theres a tremendous value to it and we try to find companies there are plenty of companies out there fundamentally flawed or pushing it or aggressive. They have busy models that are not very good. Take a look at sterocycle. The Business Model appears to be broken, and then you find there are not all of them have the eyes of wall street, not all of them are popular names, not all of them are headline grabbers. Yeah. Thats where the opportunity is, bryan. Is there one company you were advising your clients we should watch out for . Im not telling you. We have a few of them. He says in tweets, my pal, sully. And then he refuses to disclose when it comes to show your love, wheres the love . He doesnt show love. Ooh, thats mean. Ali baba remains a name thats very high on our list as weve mentioned, sterocycle, there are a number of names on the list but those are first subscribers. Thank you. Herb greenberg out there, san diego, ali baba, thank you very much, buddy, were still pals. Up next, were headed to rid o with a che rio. We always play this. Any way, were down, weve got the medal count and more on the fight against zika from rio with carl coming up. He macabre. I enjoy keeping people up at night. My Analysis Shows your stories are actually about human connection, even love. Great storytelling needs drama and empathy. My cognitive apis can help any business Better Connect with its audience. You should try writing a book. Find a remote hotel. Bring the family. I do not think that is a good idea. Day three of the rio olympic underway. The u. S. Leading the medal count with three gold, five silver, and four bronze for a total of 12. Italy and china in second place with eight medals each followed by japan with seven medals, some nice swimming results for japan. Bryan . Can we just talk about how great Katie Ledecky is. She was celebrating her victory before any other swimmer was done. She was out of the like, yay. It was a second and a half difference. Shes never lost an individual race in i think its the last five years or maybe longer. A powerhouse. A pride of willis, north dakota. Her grandmother was a friend of mines doctor. Zika is another battle theyre fighting. Carl quintanilla, with a look at what the athletes are doing to protect themselves. Reporter to address zika concerns, under armour, which is providing uniforms for 250 olympians including gymnasts, boxing and rugby players all of our teams and athletes will get a variety of gear that includes multiple longsleeve pant options, but long sleeves are just the start. The u. S. Soccer team has received over 600 bottles of bug spray from floridabased sawyer products. While the u. S. Rowing team is working with North Carolina company Insect Shield to treat the teams competition and casual clothe with the mosquito repalant th repellant that lasts through 70 washers. Reporter long contaminated with sewage and trash. Theyll be outfitted with 50 of coverage over their bodies and a finish of my crobial to protect them from invested waters, that spent nine months developing with athletes. And that was carl quintanilla. Deltas power outage worldwide, well head live to La Guardia Airport for the latest. Power lunch is back in two. This car is traveling over 200 miles per hour. To win, every millisecond matters. Both on the track and thousands of miles away. With the help of at t, Red Bull Racing can share critical information about every inch of the car from virtually anywhere. Brakes are getting warm. Confirmed, daniel you need to cool your brakes. Understood, brake bias back 2 clicks. Giving them the agility to have speed precision. Because no one knows like at t. Heres whats on the power lunch menu this hour, deltas big mess. Why do these big glitches keep happening . Are the airlines underinvesting . Oil is surging up, and gdp versus jobs, which one is right . The second hour of power lunch begins right now. Melissa, thank you very much, im tyler math soeson. Two hours now until the closing bell as we enter the second week of august. Stocks are lower by 18 points on the douw at 18,000 fiv524, and healthcare the biggest lagger there. Melissa did mention oil, crude soaring 3 this hour as you will see in just a sec, up 1. 56 at 43 and change, the closing trades in the oil market right ahead. Hi, brian sullivan. Donald trump laying out his economic plan in detroit, proposing a moratorium on regulations and cutting the code down to just three tax rates. He was also repeatedly interrupted by hecklers. Well have more coming up. Hulu ending its free adsupportive service and will move to an all prescription model and Delta Airlines lifting its ground stop following a massive computer glitch, but that does not mean everything is back to normal. Our own susan lee, live at La Guardia Airport, susan. Reporter hi, bryan. As 1 30 p. M. Eastern time, 450 flights have been canceled but delta points out 1,700 out of the scheduled 6,000 flights have taken off and just in the last 20 minutes, deltas ceo is posting a video saying its all hands on deck. I apologize for the challenges this has created for you. The delta team is working very, very hard to restore and get these systems back as quickly as possible. Reporter and this is after the Atlanta Power outage that basically crashed deltas global system so flights were delayed, passengers were stranded. We got to talk to a few passengers that finally got off their delta flights and heres what they experienced this morning at the airport. I heard it from the news and they told us they dont know what is going on, they are waiting for the supervisor to tell them. Waiting in line, so theyre like everything like they had to do everything manually and couldnt get any of the computers to work so there was no checking your bag like on the street or anything. It was just it was a hassle, but i got here so thats all that really matters. Reporter whats the best way to make the bft out est out of situation . My favorite anecdotal story from shawn carson from kona, hawaii, to los angeles airport and he was on a delta flight that was stuck on the tarmac when the systems glitch was taking place. The captain called up the pizza joint and ordered in stacks of pizzas to make sure the passengers were fed. They werent hungry and they were a little bit taken care of. Thats from la guardia back to you guys. Some Great Customer service im sure. We want to head to rio. Weve got a power lunch exclusive with the former ceo of jetblue, currently the ceo of azul. Well get to the olympics, which is why youre there in rio in a minute. I want to get your reaction from delta. This is not the first time. Southwest had an outage and American Airlines had a massive outage, as well, in 2013. Whats going on in the Airline Industry that causes these glitches . Are they underinvesting . I think you have to have back up systems and in this case, youre hearing a power outage. They should have had enough generators to be able to handle it. If it was just that, then it was probably a glitch of a generator and they are back up to a back up. Software systems are complicated. You move millions and millions of people every day. In this case, you know, i think there is a lot of investing to be done and this is the heart of the airlines. If something goes wrong, they stop completely. Theres a lot of talking going on with it peop. T. People makin the same thing doesnt happen to other airlines. Certainly the most important thing is have i. T. Systems. And im sure that has happened after every single outage in the past few years, david, and yet the outages still happen, and maybe thats just its bound to happen but at some point, doesnt this also become a security issue if these systems were able to be taken down nationally and perhaps internationally . Yeah, absolutely. You know, its all about redundan redundancy. You need a backup to the backup. Thats what i. T. Systems are built for, to have double, and quadruple systems. You have to have a salt lake place or cincinnati. Theyve got to have redundancy to be able to pick up backup systems. I picked up a company that does reservation systems years ago so i focus a lot on that and its the system we used it at azul. It can help, but you need to limit the damage when it does happen. Lets switch gears, david. I want to talk about the olympics. Has it been a party in terms of azuls bousiness. Its great because more people are coming and traveling to brazil and you have a partnership with tap portugal, which serves europe and brazil. At the same time, its sort of puts a damp er on business traveletravel how does it shape up for a company like azul . Its absolutely unbelievable. I came to the opening ceremonies as a guest from one of our the companies we do business with and then my wife and i stayed for a few more days and were just regular spectators coming to all the events. I saw Michael Phelps swim right over there about a half an hour ago, im going to watch judo over there in the next 30 minutes, and i think a lot of people are seeing this, theyre booking flights on azul and coming to rio and havent seen a mosquito. Were just having a great time. Were going home tonight and i kind of wish we could stay some more days and enjoy this great hospitality. Talk to me a little bit. Maybe were more worried about people than the people in brazil are. Id like to hear you address that and you started this company a couple years ago, your timing in term was hardly ausfiau auspicio auspicious, in terms of what has confronted brazil and its politics in those two years. How were you weathering those cross currents . Good question. Let me address zika first. Weve got 10,000 people. I havent heard of anyone that has zika. Obviously theres concern if a womans pregnant because theyve had some cases way up north, but other than that, its only one in five have a symptom of it, and whoever has symptoms that last a couple days, i think it is way overblown when youre worried about pregnant mothers, thats a problem. But other than that, it really isnt it really isnt a problem. I come to brazil often. Like i said, i dont know a Single Person that has got it yet, so i think its more in the u. S. Press, its a little bit more than it should be. Now, as far as doing business in bra brazil, this olympics was decided seven years ago. It wasnt great timing to have it now. The brazilians have made the best of it. As for our business we were doing great until the crisis hit brazil. It was kind of a perfect storm where you had some political corruption, you had the and you lost confidence from the investors so the Exchange Rate went crazy, so that really hurt us but weve got a lot of loyal customers and weve got pay great busine a great business and we just closed a deal, hinon invested 450 billion, a china hna group in china. We made it through the Exchange Rate, and now has come down, fuel is down still, and coming up a little bit today, but were kind of back were back again. Were very excited. People are going on International Flights and we fly to orlando and 40 laudfort laud. Were feeling really good about things and topping it all off with a good experience at the olympics. David, thank you. Good to see you, David Neeleman ceo of azul. Great, thanks for having me on down. We would if we could ask have a great party. Planes, trains and automobiles, a great movie, but also pretty good investment lately. Transports are up 3 , better than the overall market, and comes after a long period of underperforming. So, what is next for the transports . Morgan brennan joining us with more on that. Reporter 3 increase in the past month for the transports but if you take a look at, this up 5 so for this quarter, meaning that dow transports are outperforming both the s p and the dow industrial since july. Thats a big difference from earlier this year when the transportation average was trading down almost 30 from its november high. So your we seeing this reversional now . Commodity prices are beginning to pick back up, weve got recession fears receding. Take the rails. Union pacific, csx, norfolk certain, all of those have rallied as rail traffic is starting to slowly pick up. You can get a feel for that from these numbers. Similar story for the truckers, hit by high inventories, too many capacity, and sluggish Economic Growth. Now as truck tonnage has started to move more goods, assist, knight, old dominion, those prices have jumped this quarter. Crude oil shipping, tanker fleets had a record 2015 as they were used to store and move excess oil but according to poet innocent partners, as demands for markets like china, a slew of new ships has been added to supply on the global tank market pl plunging from 100,000 a day in january, to under 20,000 a day now, you can see that move right there. Its been a mixed bag for the tanker stocks, like shift financial and Nordic International tankers. Nice way to end it. From planes i have a feeling it wasnt an accident, from trains and autos and maybe Global Insight into the economy and that is oil tankers. Ceo of the aforementioned nordic, they got 30 suez, the big ships that can go on the canal. Herb, thank you for joining us. My pleasure to be with you. There has been a supply and demand in oil for a number of years. I would imagine youre kind of an oil expert, given thats the primary focus of your ships. Is the supply demand imbalance getting smaller . Generally speaking, yes. Ive been dealing with this since 1972, and have gathered some insight, i hope. The thing is, what we are working for are two things, total return, that is if 1 becomes 1 ten plus o. 10 plus o have the total return of about 11 over 20 years. And the second point we are working for is dividend yield. We may dividend every quarter. But you can only play a dividend herbbjorn if youre hauling around the world to give your investors when theres too much of something and people are chartering old ships to store it off the coast of iran or the united states, how do you make money in that environment . I cant tell you. You seem to you should have been a ship owner yourself, you know. He watches where all the ships i actually do look at the marine reports. I will tell you thank you. I will tell you, the fleet must increase more than under shares and that has happened with us for a long time. Some innocent analysts say our stocks are too expensive and i say we can live with an expensive stock because theyre using the net asset value. Thats generally accepted accounting principle. What the is value of microsoft . They have such nice furniture i hear and curtains. We are not a scrap dealer. We are a competent organization and they is how we make money because the fleet is increasing more than the number of stock, and what does that mean . Percentage growth in your fleet is going up faster than the the share count . Absolutely. That is really the gist of it, which ive tried to and thats property because for those who dont under like me yes. Why is that important . It is important what does that tell you . Because then each stock makes more money. Each share . Each share makes more money cash flow wise and earnings wise. If those ships are profitable, right . They have to be profitable. They must profitable over time and we have been able to do so. At this time we have 30 ships, which are collectively very profitable. Sure. We do business with exxon, and bp. Important to understand the 30 ships there havent been many advances in ship technologies. They can keep going until the cows come up. Herb herbbjorn in early its of what youve and youve been seeing when oil was down at 25 versus where it is you right now . Does that matter at some point . The cheap oil is good for the world economy. It is just like a tax rebate in america, you know, at the gas station. And generally speaking, there is a relationship between the price of oil and gnp. When the price of oil is coming down, thats good for the world gnp. How about n. A. T. . Also do you make more monwey when the price is high or low or doesnt matter . No generally speaking when the price is low because then people consume more oil and we transport more oil. Whats the average length of a charter . For us, its maybe 40 days, or could be shorter. Okay. But we do business in china, we do business to america, we do business to europe. And what we are trying to do, is that is to understand the world because we must try to understand the stage on which we are working. Theyre going to tell us to wrap it up here, how many people do you have on one of those ships . About 23. Not many. Its shocking. Shocking how few they are. Hello. They are highly automated. Right. And you know and how bigger they . Theyre about 285 meters. So 1,000 feet roughly. 155 deadweight tons for a suez. Excellent ship, excellent quality. 23 people. To your point the biggest oil tanker, the vlcc, and the ulcc, the biggest oil tanker i think ever built was built in like 78. 79. I was one year off. Right. I think it would end up breaking in half. But ours are up to 1918, yes, and theyre doing excellently because we had three objectives, safety for crew, safety for the environment, and safety for the vessels and thats herbbjorn im trying to make shareholders rich. I dont know how to say thank you in norwigeon. Its great to see you. We want you back. Okay. I promise to come if you invite me. There we are, done. Well take a ride on one of your ships. The gdp thats how we got here, 30 days. The jobs report, the jobs number, which double . Which is providing a better reading, the gdp or the jobs report . The true state of the economy, well take a look at which tells the correct story on power lunch. Yep. Stirred it. Mmhmm. Drowned it again. Mmhmm. And now just feel if its cold. Yeah. Cool. [camera shutter clicks] [whistling a tune] smokey just gave me a bear hug. I know. I already posted it. All right. If you believe fridays jobs reports, the economy is doing just fine, if you believe the gdp numbers earlier last week, not so much. Which numbers should we believe . Heres Steve Liesman and bob funk, ceo of express employment professionals, one of the top Staffing Firms and former chair of the kansas city federal reserve. Mr. Funk, welcomwelcome, and mr funky, who plays funky music, like last night. What is your im not asking what the numbers are telling you because the gdp numbers or the unemployment numbers, what is your business telling you about the health of your employment . Were basically on main street, in much smaller companies. We deal primarily with medium and small sized companies, and its really somewhat soft. Its been flat now for three quarters in terms of employment demand. Now we really are in the tale of two economies. Weve got the skilled economy thats in demand and weve got the unskilled that is not in demand and of course 43 of those who are not looking for work anymore are on the unskilled area. So, were trying to encourage many of those unskilled to go back and get educations so they can get skills and they can be employed. Of those who have stopped looking for work, the people who have pulled out of the labor force, what percentage of them do you think are doing that voluntarily and what percentage have done it because they just figure, i cant get a job . In other words, how much is demography playing, is another way of asking this question . Probably in the 50 that have too much Government Support so they can make more on the government doll than on the job. Hold on, bob. You said people who are retiring because they reach 6, s is that not the retirees. What of the tot percent of e leave something. Probably 50 or 60 because they get more doll. We have some state by state. I think its in california, you have to make Something Like 60,000 to over committee benefits program. Oklahomas less than that. Were at 38,000, i think, in order to overcome it, so are people lets talk about this a little bit more. Yeah. Are people making too much of the decline in Labor Force Participation . Because if you show a 20 year chart, it looks terrible. No ones working anymore. If you show a 40 year chart were going back to the mean of where we were. Childcare is stupidly expensive. It drives people out of the workforce. Are we making too much as necessarily negative on the economy . Not really. When youre trying to recruit people and good people, of course we interview all of our people, trying to recruit good individuals to go to good jobs, they just arent there. They just just dont have the skill level that we need in order to fill those skill jobs. I think were not, bryan, in the sense that if its fact that people are leaving the workforce, because government is set at a Level Advisors work, thats a problem. I will say in general, the Convention Wisdom is and i dont know your data but the idea is about a half of the people are leaving because theyre retiring. That was kind of where i was going and the other half perhaps are discouraged. But you emphasized idea i think what you really need to know, as many of the retirees are coming back into the workforce because they have the skill level. Some are. That is needed for the skilled jobs. Some are. This trend skews a lot of the data. Yes, if you had two, now you have one, your Household Income is going to decline. So this trend, i think could be one of the defining trends the last decade and it seems like we take it as a negative. Is it necessarily one though or is it just going back to the way we were . If you talked to people voluntary or not, guys. In our areas, you do the math if you dont make 50,000, income, local, and childcare means you break even. If youre trying to recruit people why work if all your costs mitigate they takeaway all your money after taxes, commuting and childcare. Youve got nothing left. Why work . Stay home and take and thats what people are choosing to do. But we are hiring 200,000 people a month. Im not saying things are bad. However bad it is, theyre finding these people and wages are up, but up only a bit. So a lot of what youre talking about is not necessarily showing up in tmacro data. I think you need to look at the numbers themselves. In the month of may, there was 40,000 new jobs and 500,000 quit looking. Where did that number come from . The numbers arent necessarily in may . Let me put it this way, one month there was 40,000 new jobs and we had 49,000 new jobs in our company alone. Now the staffing industry last year, employed 16 million people. Staffing industry. 16 million. We only employed 500,000 of those. So 16 million new people and many of them would be new people coming into the market, new coming in to new jobs so you would undoubtedly see a great number in our industry that are new people that then, eventually go to work personal femanently companies we send them to. All right. Those numbers will certainly tell you if you can find the good people that have integrity, have good work ethic and of course if you can pass the drug tests, it makes a big difference on the quality of people. Bob funk, appreciate you being with us. Thank you. Steve liesman, as well. Power lunch returns in two minutes. Im sharon epperson. Heres your cnn update. In a speech before the Economic Club in detroit, donald trump laying out the vision for americas future, unleashing a blistering attack on Hillary Clintons economic policies saying the common feature of every one of her ideas punishes you for working and doing business in the united states. Delta canceling 450 flights due to a power outage that grounded all planes worldwide this morning. Flights are resuming and delays are continuing. Thousands of travelers have been stranded. Government forces in indian administered cashmere using teargas to disburse an ongoing kerf y confer you against the dikillin of a popular rebel commander. And according to new Data Collected by the Research Firm npd group, sales of portable power packs for charging smart phones and tablets doubled in the two weeks following the pokemon launch. Thats the cnbc news update, back to you, melissa. What have we come to . Thank you, sharon epperson. A big gain to oil. Lets get to jackie. Reporter oil prices closed just over 43 a barrel. Reports of more talks by opec regarding a production freeze. Opec was pretty much quiet as prices went up to about 50 a barrel, but now potentially worried about this leg lower that we could see because there still are worries about an oil gut out ther glut. We had those talks and thisspec enough to get the market moving. Power lunch will be back right after the break. Where we explore. Protecting biodiversity. Everywhere we work. Defeating malaria. Improving energy efficiency. Developing more clean burning natural gas. My job . My job at exxonmobil . Turning algae into biofuels. Reducing Energy Poverty in the developing world. Making cars go further with less. Fueling the global economy. And you thought we just made the gas. Energy lives here. With usaa is awesome. Homeowners insurance Life Insurance automobile insurance i spent 20 years active duty they still refer to me as Gunnery Sergeant when i call being a usaa member because of my service in the military to pass that on to my kids something that makes me happy my name is roger zapata and im a usaa member for life. Usaa. We know what it means to serve. Get an insurance quote and see why 92 of our members plan to stay for life. All right. What do small and midsized Business Owners think of the economy . David martin, martin and sons in green bay, wisconsin, and griner gmc and buick and victorville, of california, and were joined by mark shupan and sons a middle man recycling Company Based out of kalamazoo. Well start with you. Youre in michigan, and donald trump was in michigan. He was saying disaster about 40 times. Youre a business and weve talked in the past, do you think the u. S. Economy and your business is a quote disaster right now . No, i wouldnt say that at all. And first of all, thanks for having me on again. I appreciate it. How is your business . Were pretty fortune good. Basically, were very diversified and i think were in a good area. Our Northern Indiana business, which is not michigan, is a recreational vehicle, recycling, thats been very busy. Our manufacturing has grown almost 20 in the last year. Our service center, as far as distributiing ill im numuminun plastics, thats gone up a little bit. Depending on what business youre in, theyre pretty definite skpu difficult and weve been fortune of recent. When i went into your store in green bay to buy some calk, and got to talking, the retail business, which youre exposed to had been turning down. Youve obviously come back up. Youve grown. Are you able to find something we just talked to in the previous segment enough workers to meet the growing demand for your business . Thank you, bryan. That was one of the best sales weve had ever had. It was the best 4. 99 sale weve had. Our installers are part of the company weve been focused on. What weve been doing, the labor shortage, is partnering with the nwtc, fox valley tech. Weve had Great Success with hiring veterans and our local veterans agency. We have partnered with the chamber of commerce and their Youth Apprenticeship Program and then we have a culture of low turnover, so when someone enters the company, we want them on a career path. We dont want them to just get a job and we have a law youvy of these are longterm jobs. If i had to ask you to finish this question, the biggest problem or the biggest Thing Holding the economy back right now is blank . I would say the unknown in the government right now. Everyone needs to in together. David griner, lets go out to you. Obviously the car business, victorville, outside of los angeles, which has become somewhat of a suburb of los angeles, shockingly, david, you are exposed to income, youre exposed to credit trends. How do you see the economy right now . Well, for us, i mean, its back beyond the prerecession levels but its largely fueled by leverage and Automotive Financing is wide open and so essentially a lot of what were seeing and a lot of how were surviving is based on getting people approved. Thats the trick of the trade when youre in our business right now and thats getting people to afford the cars. Theyve gotten quite expensive and terms have gotten longer and longer to get them bought, so wages in our area is its a doubleedge sword as an employer, but wages is probably the biggest inhibitor to us growing our business right now. And what is the average length of a car loan on the used side . On the used side, i mean to be frank with you, were over 66 months on average, and we can on a used car . On a used car. A five and a half year loan. We can even get 84 months on a used car because its wide open and that area is very hungry for paper so were constantly having to do those things to get people to be able to afford the car because theyre very payment conscious right now. Guys we have to leave it there. Were going to do this again though. All the time as we head up to the election, the pulse of real american business. David, david, mark, michigan, wisconsin, california, thank you very much. Thank you for having me. The car wont be anything. Does the car last 84 months . Coming up, millennial in money, a new study showing some attitudes on money and what they really want from a career. Power lunch right after this. This car is traveling over 200 miles per hour. To win, every millisecond matters. Both on the track and thousands of miles away. With the help of at t, Red Bull Racing can share critical information about every inch of the car from virtually anywhere. Brakes are getting warm. Confirmed, daniel you need to cool your brakes. Understood, brake bias back 2 clicks. Giving them the agility to have speed precision. Because no one knows like at t. Forget becoming a tech millionaire straight out of college, a new study minds millennial overwhelmingly say they more crash strapped than ever, let alone saving for retirement. And the report for wells fargo, joe, great to have you with us. What is the overall picture we are to walk away with when it comes to millennials and money . They want to retire earlier. What should we understand about them . Thats interesting dynamic. Millennial said they wanted to retire at 59, which is really aspirational, but t2 3 rds don believe they could make a Million Dollars. We want to debunk that myth. About 2 3 rds were saving about 5 , with only 6 saving the amount, about 2 3 rds were saving 5 , and 28 were saving the suggested 10 . Its definitely doable, and have the power of time, which is what were trying to emphasize. Wells fargo did this study for a reason. What are the longerterm financial insspugzs having thin money. Theyve good some head winds so about a third of millennial have student debt, median amount about 20,000 and were trying to show them, for as little as 26 a week, if they start saving at age 25 and put away 5 of their salary, they can reach that Million Dollar threshold. So theres a lot of competing priorities. We say take a personal inventory, look at your money coming in, money going out and try and save that 26 at age 25. All right, joe, some great advice. Thanks so much for joining us. Appreciate t. Joe ready, wells fargo. Thank you, melissa. As Older Americans build up their nest eggs, our next guest as different messages for millennial. Drain that bank account, live for the future. John leafy, ceo of influencers, john welcome, good to see you. Really drain the bank account experience . Im not saying totally drain it, but what i would advocate is that millennial and people my Social Circle have really redefined or redirected their goals, right . Weve gone from a culture where were always trying to work and make lots of money to where weve reprioritize experience so travel more, experience more and spend our money on things that impact the quality of our life. That sounds great. But you have to make money to be able to have those experiences, dont you, and then, if you have not set aside a certain amount, youre not going to be able to have those experiences later in life when you stop making money. Thats without a doubt. I think theres also a difference in the definition of retirement. When you look at people in from my generation, i dont think its so much stopping as slowing down. Its continuing to do what were passionate about, because overwhelmingly, when theres less stability in the workforce available, people arent working for the same company for 20, 30, 40 years, that means weve become more entrepreneurial, weve approached from a passionate perspective and there by its those things where committed to. Were seeing a population thats far more driven towards making an impact from a social perspective. It falls on us to really make a difference in the world as a generation and as a byproduct, were working really hard towards that. Do you feel comfortable at age 65 or 60 or whatever you want to retire, quote unquote, retire, that youll be able to support yourself and or your family at this point, if youve had that sort of view towards money for all of these decades. Do you have kids . I have no kids. Dont thinks change when you have family . Without a doubt. The people in my Social Circles and my generation in general, were getting married a lot later, so whereas our parents generations were having kids in their midand early 20s, were having kids in our early and mid30s so the financial requirements are a lot less stringent. Are we overly worried about retirement . Not at all. Its a really important top and i can its essential we learn great habits. Millennial are doing something right. Theyre saving. Jon we have to leave it there. Jon levy, happy travels. The last two months whatever it is, thank you. 2 00 a. M. Principle, hes the author. And what we talk about on power launch, its street talk and trading nation and theyre up next the markets hot. Sync your platform on any device with thinkorswim. Only at td ameritrade. Announcer dont let salmonella get funky with your chicken. On average, one in 6 americans will get a foodborne illness this year. So, learn the right temperature to cook each type of meat. Keep your family safe at foodsafety. Gov. Lets do street talk, stock number one, go daddy, and 38 target, thats about 13 upside, the optimism, all about international. International. The new cfo indicated to double the size through growth of developing nations. The analyst at piper sees india, china, brazil, thinks they could add 14 million to 16 million more domains to the portfolio. A wellloved stock. The average rating is strong buy. Wow. Second stock here, invidia top pick. Keeping the buy rating on the name. Citing product momentum and stronger than expected pc market strength. Earnings should be on target and the Analyst Thinks guide on sequential Revenue Growth will be too conservative and perhaps raised there. Invidia up 77 year to date. Most loved stock in the world it seems. Third stock is cube smart. Upgrading it to a buy from a hold. This despite admitting growth in the storage sectors likely to slow next year. However, analyst steve says slowdowns are already priced into the stock and after a recent drop, he thinks its undervalued. He did drop the dollar down to 32 from 33. The target. Still about 14 upside for cube. Boise cascade with a downgrade to a market perform. Bmo sticking with the 30 price target. But the cut is driven by concerns in the second half about new capacity centering the u. S. Plywood market and evidence of tough competition. The stock had quite a recovery from the low in february. The stock up more than 100 since then. Tough day today. Random shot of an empty computer desk. It was down 6 . Finally, under the radar stock, viewers likely know the name. U. S. Concrete. We had it recommended by a fund manager last year. Suntrust outpositive on the company. They start coverage at 75 target, about 30 upside. The company is called rock solid by the love analysts humor. They note that its a number one and two Market Share Company in market like new york, San Francisco and dallas. Thinks the stock undervalued. Thinks the company is a smart deal maker. U. S. Concrete rock solid. Thats a joke that you would make. Ill just leave it at that. I would have said the road to riches. Street talk thankfully over. Crude oil rising 2 today. Trading nation team is tim seymour. Ari wald with oppenheimer. Tim is all happy because i screwed up. No. No what do you team player. On fast money. Come on, brian. Keep it going. Good buy at these levels . Great buy. Bounced 8 off the lows. Sentiment strong. Staring at the rig counts. I dont think thats thats a lagging indicator ultimately. Opec thinks the market is correcting itself and i think oil stays above 50 on brent. Yeah. They also, by the way, if you havent heard this, tim, but for the audience, opec talking about a mysterious casual meetings to talk about production again in september. I went to doha for the last one. You think anyone can come and opec gets the act snogt. Im not sure they have. Its all about what saudi wants to do and concerned about Chinese Market share right now. Irans back to presanction levels and a lot priced in here and make no mistake. Theres massive cutbacks of producers. Seen oil rigs up. Its the sixth or seventh week in a row. This is a lagging indicator. The market is correcting itself. Oil is interesting as a buy because sentiment, remember, last week as low as its been since the lows. Ari, we are moving the emotion. Charts. Interesting as a buy says tim. Do the charts agree with that . Taking out the emotion, the charts do agree with that. Youre having a most significant buy signal since oil started the decline in june and that buy signal a key reversal week last week and oil traded below support at the 200day moving average. Bears had all the reason to press the sell buttons there. They couldnt do it. Bulls came back. You had a strong rally into the close there. I think thats marking an exhaustion of selling pressure and turning point. Oil is setting up for a rally back to the upper end of the range at 51 resistance. A positive bias on the charts there. Tim seymour, ari wald, thank you. Thank you. Head to our website. Up next, the final thoughts on a segment of check please. Were back right after this. I like what our guest said about millennials wanting experiences over things. I agree with that. On a philosophical basis. Thats what im about. Im getting rid of my things as much as i can and i spend on experiences as much as i can. But your life changes when you get married and you have a kid. Let me tell you, jon. You do that, youre going to have a lot of things and most of them are going to be petroleum products, plastic. Thats sounded kind of weird. But ill take your word for it. Fisherprice by exxon. Im continuing to watch what was going on the long vaseline. Vaseline. In the big what kind of experiences . Oh my gosh, im moving on. Watching shares of merck today giving up some of the 10 gain we saw them gain on friday on the back of bristolmyers woes. Remember, the optiva immuno therapy cancer drug failed to meet a trial approval. Citigroup says the gains are short learned. Nothing changes about the drug of merck. You are watching the other side of this story. Bristolmyers. Disappointing lung cancer trial data. People hoped for a bounce. You buy the bounce. Didnt happen. Brist bristolmier down another 4 today and the longterm chart is a money maker for investors and a very difficult couple of days for bmw. Lost 20 million in capital. Buyers will want to see what happens with the therapy. Bad timing. Building a giant new Headquarters Building and almost done. Spectacular and probably not the time for a brand new building. Definitely stocks to watch. Thank you for watching us here. Closing bell starts right now. Welcome to the closing bell. Im Kayla Tausche at the new york stock exchange. Afternoon to you. Good afternoon to you, as well. Welcome abore. Im bill griffeth. Walmart looks to give the ecommerce business a jolt. We have new comments of walmart ceo in a moment here. And tesla under pressure as the automaker discloses it will need more than a billion dollars in cash for the third quarter. Well look at how the company is spending its money after just having to issue stock. A nightmare for travelers today. Delta delays. The companys computer system