Critically helping sentiment, china stocks recording their biggest twoday gain in seven years. A number of stocks there are still halted. Weve got the Portfolio Manager for fidelitys 2 billion china fund coming up. He says there are a lot of opportunities in the china market right now. Well tell you where. The latest data show the pc market is just getting clobbered. Its dying yet again. Could microsoft have a plan to revitalize that sector . Thats coming up. Also a new bill that could help patients get their treatments faster but at what cost . Well break down the fight brewing between Pharma Companies and doctors coming up. Troubling reports out today. Lets begin with greeces bailout and reaction from germany. Our reporters are still on the scene. Chief International Correspondent michelle cruisae a carusocabrera live in athens and Steve Liesman in frankfurt. There is new controversy around greeces former finance minister. He cannot stay out of the headlines even though he is no longer the finance minister of the country. This started when he tweeted out earlier today, i will not be in parliament tonight voting in person due to family reasons. This is to fend off other interpretations. Even though he is not the finance minister he is still a member of parliament and should be in the building behind me debating the proposal and voting later tonight. He will not be there. He wanted everybody to know, i support the proposal. A local reporter all coverage of the parliament stops to show photos of yani getting on a ferry out to an island in his mini coop were his family and looks like he is going on vacation. A toll journalist takes photos of him. His security detail attacks him. There is drama there. Then he tweets out again thankfully, there are people who respect what it means for me to wish to spend my saturday and sunday with my young daughter before she returns to australia where she lives. Which then sets off a firestorm on twitter. People were critical. There are supporters too. He is very much a rock star to some people in this country. One member in parliament stood up to say, we all have family obligations. We are all here. Its been interesting to watch. Even though he is no longer the finance minister hes still at the front of the news frequently. The media frenzy intensifying there. Well switch out to Steve Liesman in frankfurt. The latest on germanys reaction to greeces latest bailout plan here. We dont have any drama like that. What they are waiting for here is for the greeks to approve the proposal put to the Greek Parliament in front of them. Theres a lot of glaring silence. That proposal was received. They acknowledged they have it. They acknowledge there will be a meeting sunday in brussels to approve or discuss it. Really what it comes down to is the german dilemma. Will they deal on the greek debt or not . They have a public that is pretty overwhelmingly opposed to any additional greek concessions. On the other hand german chancellor Angela Merkel has tons of i guess youd call it persuasion on the part of the United States imf and france to make a deal here. She faces this prospect. On the one hand they fear the greek example could be one that others follow. On the other hand, she is concerned she doesnt want to be the leader that presides over the dismantling of the european monetary union. We dont know how she thinks. Saturday with finance ministers meeting in brussel, well get some sense of that. Some form of a greek write down or write down of Interest Rates. Most have been recommended by the imf. Michelle much is made of the debt restructuring that greece wanted germany didnt want them to have because they felt like theyve been given too many passes in the past. As steve is suggesting maybe they were negotiating not just with greece but future countries that might want some sort of a debt restructuring. What do you make of whats on the table right now that Greek Parliament will be voting on tonight . The whole issue of debt restructuring, i find it to be much ado about nothing. The greeks have always been told its actually been put in print, stick to the reforms, do what you want and guess what . We will consider extending maturities and lowering the interest rate. This has always been an option. They never complied with the quote unquote prior actions, things to do to get their bailout money, et cetera et cetera. The full write down. Bill, if you are given 200 years to pay back your mortgage at 0 interest rate, its better than 30 years at 4 right . Everybody gets that. They could have gotten one all along here but theyve been difficult all along here. Steve, whats this all come down to then . It comes down to this issue of what kind of European Union is it going to be . One that as one analyst said is it a union or a club . Is it one you can come into and go out when your economics dictate it . On the other hand it comes down to one of from this country standpoint to the extent to which german should be paying for what they believe is the largess of the greeks. The idea of a retirement age. Thats on the table. At the end of the day, and i think michelle would agree with this, it comes down to trust. Greeks propose anything they want. Germans feel like its been done over a long period of time. There is no basis of trust for the promises made. All right. Well find out. A lot to come. The vote in the Greek Parliament tonight and of course the big meeting on sunday in brussels. Great job, guys as always. Well be talking to you. Thanks. Joining us now as we bring it back home again here with an eye to overseas john manley from wells fargo funds is with us. Peter costa and Rick Santelli joining us. Peter costa, after all the volatility, we arent going to finish with big gains this week but we are still beholden to a great degree whats happening overseas. The chinese stock market has been dictating our direction this week. It has. Well probably see that for the next couple of days. One of the things we need to start focusing on is the externals are are very important. The internals, whats going on in the u. S. Economy. Earnings season is starting up. Next week there will be several financials reporting. We should start focusing on that and the growth going on in this country. Granted, you cant, we dont live we live in a Global Economy and not just this u. S. Centric economy. We need to start looking at and watching whats happening here. I think next week we will. Rick we did just hear from janet yellen. She gave a speech and answered some questions. Analysts are saying maybe she was more hawkish, insisting in only the way a yellen we might read her as insisting, they are going to raise rates this year. Are markets buying it . No activity in the marketplace i see can confirm or deny that the fed is going this year. If you look at some of the yield curve spreads, they certainly do seem to be steepening not flattening, 10s to 2s comes to mind. Granted, the curve is flattening with all Interest Rates moving up. I think thats just a different dynamic. Its an easy one. If you look at low yield yesterday to high yield in bunds, the difference was 22 basis points. Our low yesterday was 2. 18. We are up about 24 basis points in terms of the range. We closed at 2. 38 last week up three on the week. All maturities up three on the week. If you want to know whats going on with rates, keep an eye on the curve and bund land. The spread has been 150 basis points. Constant for the last five weeks. The more amazing story is and we could debate a lot of issues but the euro who avoided a close under 1. 10 it didnt close under it yesterday, here we are today flying well above that getting close to a 1. 12 handle. The real story is no matter how it turns out with Greece Germany likes that euro. It would be cheaper. Keep an eye on the money. Follow the money. Follow the money. Never forget that. John manly you long advocated staying the course. Youre bullish on this market. You try to ignore the headline risk as much as you can. Invest in what you see as quality stocks. I assume you are still doing that as we head into earnings season. Where are you putting somebody to work here . We are still buying technology. Still buying financials and we are actually needling at big energy stocks. U. S. Market is fair or fully valued. The fed may raise rates this year. They are not going to tighten. They may raise rates if the economy is stronger but they are not going to try to slow the economy. That keeps the bull market going. You want to go with those sectors that are going to be not as susceptible to a rate increase . They have offsets. In theory the fed will raise rates because the economy is stronger. That makes sense. If its not stronger, they wont raise rates. What do you get with a stronger economy . In theory you should get better corporate profits from those companies leveraged to that. You mentioned buying energy names. Oil is down 8 on the week. Does it have to go back up . The ones i focus on are the big integrated. They are nod crude sensitive. If you look at the 1980s, the only exxon outperformed s p. Terrible oil market wonderful stock market. You have down stream operations. Thats how i try to get my exposure indirectly. What a week on the floor of the New York Stock Exchange. Thank you very much. About 50 minutes till the close. Markets at the highs of the session. Dow up 236 points. S p higher by 28. Nasdaq higher by 80 points today. Stocks in shanghai cap their biggest twoday gain since 2008. How long can Government Intervention keep this market going . Seemingly in a strong fashion. Most stocks are halted right now in china. A top fund manager from china takes us to where he sees the best opportunity to make money in china. Coming up next. Also ahead, find out whats lighting up cablevision stock. One of the best performers on the s p today. Closing bell is back in two. When the moments spontaneous, why pause to take a pill . Or stop to find a bathroom . Cialis for daily use is approved to treat both erectile dysfunction and the urinary symptoms of bph, like needing to go frequently, day or night. Tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. 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A one, a two, a three percent cash back dow up 247, almost 248 points right now. S p is up 30. Once again the nasdaq up 1. 7 a gain of 83 points. Costco boosted up 15 above yesterdays closing price. He says the stocks recent weakness represents a rare opportunity to buy one of the worlds best retailers as he sees it. No word whether you have to buy a large number of shares when you buy the stock. Its too easy. Lets check out other movers in the final hour of this trading week. Cablevision spiking on a wall street journal page one article highlighting french billionaire patrick drahis interest. Cablevision provides tv broadband and phone service to customers in the tristate area and pennsylvania. Shares up 7 today. American airlines popping. Recording nearly a 3 rise in traffic last month. It did lower Capacity Growth guidance from the year to 1 from 2 . Shares up 1. 3 . China is on the move this week. Shanghai composite seeing its best twoday gain today and yesterday in seven years after some intense selling earlier in the week. Pretty much the month before that as well. Despite the volatility. Fidelity investments remains confident in that market. Booby bow joins us now. His china retail fund up 4 this year. People have come straight to you. Im thrilled to have you on. Rare tv interview. Is this your first tv interview . My first with cnbc. The question everybody has on their minds is the china bubble over . Are we witnessing the back slide . I think first off, i wouldnt call that a bubble. The market did go up a lot but has come from oversold territory last summer summer 14. Its up 115 . Any time you have a sharp rise in any stock indices, you expect some shortterm correction. I wouldnt call that a possible. I wouldnt be too worried the bubble burst. It will cause damage to the underlying. I was looking at a longer term chart of the shanghai index. We look at this recent rally the index had this year. With awe. When you look back at 2007 before the financial crisis that was a bigger move higher. We are making much out of a smaller rally here. Each bull market have different starting points and valuation and whats going on around the world. Right now, after the selloff china is trading at 13 times pe. This is the shanghai composite. The hong kong the hshare Index Trading at eight times pe. I wouldnt call that a bubble. If regulators basically halted shares of most listed companies, banned short selling, pulling everything out of their hat to keep this market up i guess that can work short term. How does it give you confidence and how are your investors reacting when they say we could be locked in this market far longer than we are comfortable with . Good question. Only time will tell whether these measures are going to be effective or not. These are some pretty unorthodox, unprecedented moves. What we do know is we have a regulator. We have a government that is highly alert. Thats determined to bring stability into the marketplace. As long0 term investors in the equity market that gives them the confidence you have the government on your side to ensure things dont blow up. Before this selloff much was made we were wondering exactly how fast is the chinese economy growing . What is its inflation rate . Give us your assessment of the economy over there right now. I think the economy is probably growing mid single digit. Im not an economist but what we have been observing its gone from mid teens growth rate to mid single digit growth rate. Longer term this is a sustainable rate of growth. By our research we are seeing stabilization signs in the economy as we speak. We think second half of the year will bring positive surprises to investors in terms of cyclical upturn in the economy. Inflation . Inflation is benign. The official number is like 1 . Bear in mind china has one of the highest real Interest Rates in the world. I will argue that the central bank in china has plenty of room to loosen monetary policies. Weve got to leave it here but you have to be invested in china. Investors should get that. Knowing that what are your couple of top plays for the Chinese Market you think would work here for investors Going Forward . I cant speak to specific stocks, but i can say that the amount of innovation thats taking place in china, that is unprecedented. We are finding a lot of ideas in sectors such as Health Care Internet and consumer. Thats very exciting. We are looking at your portfolio weighting by far financials outweigh everything else. Financials are the largest component in my index which is the Golden Dragon index. Financials mostly insurance and banks, especially insurance. Huge protection gap. Decent valuation. Will this market be higher year end versus its most recent peak . Are we going back . I really dont know in terms of shortterm volatility in the market. Its like me asking you is it going to rain next wednesday in new york . I dont know. Im not committing 3 billion to that outcome. Thats why im not a weatherman. What we do know based on research we are still finding good value in the market and risk reward is on our side. Thanks for being here. Come back. Thank you. Manager of fidelitys china region portfolio fund. 30 minutes left. Holding steady. Dow up 243 points. New warnings on painkillers raising the risk of heart attacks. New data showing antidepressants can cause birth defects. What you need to know. [ female announcer ] who are we . We are the thinkers. The job jugglers. The up allnighters. And the ones who turn ideas into action. Weve made our passions our lifes work. We strive for the moments where we can say, i did it we are entrepreneurs who started it all. With a signature. 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Yeah, give me a problem and ive got the solution. Well, we have 30 years of customer records. Our cloud can keep them safe and accessible anywhere. My drivers dont have time to fill out forms. Tablets. Keep them all digital. Were looking to double our deliveries. Our fleet apps will find the fastest route. Oh, and your boysenberyy apple scones smell about done. Ahh, youre good. I like to bake. With at t get up to 400 dollars in total savings on tools to manage your business. Some important and in some cases troubling headlines out today by wellknown drugs taken by millions of us that could have serious side effects. Meg terrell joins us. Start us off with the new warning of ibuprofen. They include aleve, motrin. Advil as well and celebrex. These are used by millions of people. There had been warnings about heart attacks and strokes with these drugs. What the fda is doing is strengthening the warnings. After new evidence of observational studies, they have seen this increased risk. They say the risk of heart attack and stroke can occur as early in the first few weeks with these drugs. The risks are greater at higher doses and people who already had a heart attack. What doctors are telling us they shouldnt stress people out too much. There are always risks associated with taking drugs. You should take these drugs at the lowest possible dose for the shortest amount of time. No more than that. They are saying doctors knew about these risks. They shouldnt be prescribing them in the ways its already known to be dangerous. Its not always what we were told playing college sports. That was you max that out. Around the news room people were freaked out about it. We shouldnt take drugs that way. There is new study showing antidepressant prozac and paxil linked to possible birth defects . This sounds scary. Everybody heard of prozac. This was a study the cdc of about 28,000 mothers. There is a link between increased birth defects and two of these popular antidepressants ssris prozac and paxil. What it also found is there isnt a link seen with zoloft which was the most commonly used in the study, about 40 of mothers. The study is saying that is reassuring. We have a better understanding which drugs have risks associated with them. They havent establish causality here. Its still a small risk, however it is increased seen with these antidepressants. This is one a doctor will pay more attention to than their patients. Theyll know who is more likely when prescribing prozac. Absolutely. This will hope with treatment decisions. The house voting on a controversial bill that could lead to faster cures. That sailed through the house today. Proponents and the house being one of them say this modernizes drug development, will speed drugs to market. But there are critics of the bill. If these provisions weakening fda Authority Pass it could have serious consequences on the health of the public. So it is risky and there are real dangers in this bill Going Forward as its currently written. What he and other critics are worried about, this lowers the standards of efficacy prohibits the fda from regulating safety. Proponents say that is not true. This keeps the standards just as high. One thing everybody agrees it would increase nih funding by almost 9 billion over five years. Some analysts said it could impact stocks specifically tools and Testing Companies like illumina Thermo Fisher and bruker. Maybe those tools may be directly affected here. That was strong language. I was surprised. Steve nissan is a well respected cardiologist. He was strong about this. Thank you so much. Time for a cnbc news update with sue herera. Here is whats happening at this hour. There is a report mexico city could become the first city in the world to put a limit on the number of uber cars. Reuters says the company would have to use cars that cost more than 250,000 pesos or 16,000 and be no more than seven years ago. Mexico city is reportedly one of ubers Fastest Growing markets. J. Crew will launch a new retail division. It will be called j. Crew mercantile and will sell valuedriven merchandise with classic j. Crew style for men, women and children. The first location is planned to open in late july at the shops at park lane in delays. President obama scheduled to visit a federal prison in oklahoma next week as part of an hbo special on americas criminal justice system. It will be the first time a sitting president has done that. The president will tour the facility and meet with prisoners and staff. It is a medium security facility and houses 1,300 prisoners. Today the president announced he is designating new National Monuments in california texas and nevada covering more than a million acres. This makes 19 National Monuments president obama established or expanded while in office. Thats more than any other president. That is your cnbc news update this hour. Lots more places to visit on the summer vacation. Yes. More than teddy roosevelt. Absolutely. It is. Its remarkable. Now weve just got to keep the government open. There is that. Appreciate it. Sue herera. 30 minutes to go until the close. Dow up 230 points on this friday afternoon. Up next a top wall street traders tells us what hes focusing on. We are going into the most important half hour. Not of the day but the week, as well. Personal computer sales falling off a cliff. Can microsofts new windows 10 save them . I take these out. To put in dr. Scholls active series insoles. They help reduce wear and tear on my legs, becuase they have triple zone protection. And reduce shock by 40 . So i feel like im ready to take on anything. Welcome back. Maybe its the reflation trade. The tenyear moving up 2. 4 after being below 2. 2 a session ago. Nevertheless stocks performing well. Even as janet yellen this afternoon saying the fed is still looking to raise rates. Dow is up 224 points. We have steve grasso joining us here. You are watching greece obviously and china. Do those give you pause or do you want to get in here anticipating a resolution . Definitely the market has shown that the shorts are covering ahead of the weekend. The risk is basically for them is unlimited to the up side. We have been trading at a lower, little lower trend line now. We have to live with that level 2044 in the s p cash. That was this weeks low. Thats the level you want to key in on. Im not all in on this rally yet. You are still hanging back here a little bit here. I would think if you go into the weekend, people have that risk. Its still a summer week. A little bit of a slower week but we had so much to digest this week. People are happy. Look at it as a whole. China is still down 25 from june 12th. How do you feel incredibly confident about that . For a time everybody was so keyed on the 10year yield and using that as a seesaw. Nobody is talking about right now. Are you . I dont think anyone is talking about that. If you remember used to ask the question, what level is the level where it breaks the markets back . You get a lot of different opinions. When was the last time we talked about ukraine. Iran was backstage for a long period of time as well. Youve got greece and china. Those are the two main concerns. Neither one is resolved yet. I wouldnt exactly call this chapter at a close just yet. I think i would agree on that one. Have a great weekend. You, too. I guess we cant call the reflation trade because crude oil did plunge this week. It was down 8 right Courtney Reagan . Thats right. For this session we saw early strength in wti crude down at the nymex. Then we began to slide, recovering a bit, but not before breaking below that key technical 52 a barrel level. We broke below that to 51. 96. Trenched back higher. Just below the flat line down. For the week crude oil having a week to the down side. Down 7 8 when you look at the chart, its a negative trend. There are four things going on that are quite bearish for crude oil. I want to detail some of them. These arent going to end when the weekend ends or when this weekends. The first is the potential deal with iran to lift those sanctions. One trader told me if there is no deal we probably wont see movement if there is a deal watch for crude oil prices to continue to fall. We got that report from the International Energy agency iea saying in next years demand is going to be below what we are seeing this year for crude oil. That is going to be bearish. Discounting what weve seen the last two days in china, the fall in chinese equity prices has been a worry for crude oil down here because so much of the demand comes from that region of the world. Remember its peak summer driving season but we are not seeing gasoline prices move higher. Those expectations have fallen a little bit short. Those are all reasons why many traders are bearish when looking at the price of crude oil going into the weekend and beyond that. Back to you. Great stuff. Thank you so much. Secretary of state john kerry yesterday saying the Nuclear Talks in iran will not be rushed. And talks will continue beyond the latest imposed deadline. Questions still surround a potential deal amidst concerns on its impact on geo politics in the middle east, funding of terrorism and jolt to the oil market. And joining us to talk about it all, dr. Jim walsh, Research Associate at Securities Studies Program at m. I. T. Thank you for joining us today. Good to be with you. Are you hopeful we get a deal any time soon . They set for themselves a new deadline monday. We had a couple deadlines that have come and gone. Many. I feel some what optimistic about this today. Today secretary kerry met with reporters and told them they had resolved some of the outstanding issues, mad made progress. They are not done but that seems to indicate Movement Towards completion. I think which are going to get something on monday. Do you think that oil is like a falling knife right now . We plunged monday on some of these chinese and greece concerns, even though there is talk at times that broke down about reaching a potential deal last week. Didnt see much traction. How much is oil responding to these iran talks . I think they are watching it. If there is a deal clearly iran will move to export more oil to recoup some of the losses that it has suffered under these constraints and sanctions, but maybe this is why people arent overreacting to it. But that is going to take time. You dont wave a wand and make all the sanctions disappear. Its easier toim pose sanctions an unwind them. Conservative lawyers and Business People and bankers arent going to jump in until they are sure this deal is going to stick and then begin to take the legal steps necessary to be able to play. We can get a deal. You can have both sides shaking hands on camera monday saying they have a deal then youve got to implement that. This is by no means a done deal once they are shaking hands. You are absolutely right. This is a point most people overlook. That marks the beginning, not the end. Implementation requires effort by everyone. They are going to have to devote new resources. Possibly doubling inspectors on the ground. There is a tremendous amount of legal and other work nittygritty work that needs to get done. Then an investor has to say how quick do i want to get in . If i get in quick, there is a first mover advantage. If i move in quick and this falls on top of me thats going to make some folks cautious. Thanks for your thoughts. Appreciate it. 19 minutes left in the trading session. Dow is still up 225 points. In less than three weeks, it says microsoft will release windows 10. Some industry watchers believe it may be the last best hope for the pc industry which saw year over year sales fall 10 this week. The fate of the pc coming up next. Shaping up to be a bigger fight. Facebook and youtube are at it again. Battleground is in the music industry. What they are tussling over later on the closing bell. That reminds me. Anyone have occasional constipation, diarrhea. Gas, bloating . Yes one Phillips Colon Health probiotic cap each day helps defend against occasional digestive issues. With three types of good bacteria. Live the regular life. Phillips. Verizon say neversettle. Tmobile agrees. Never settle for verizons overpriced gimmicks. Try the uncarrier riskfree for 14 days youll love it, or well pay for you to go back. New data on pc sales showing a year on year drop of 10 . In less than three weeks, microsoft will be releasing its new and highly anticipated operating system windows 10. Some believe could be a panacea for these slumping sales. For more we are joined by our colleague john fortt. Dont count the pc out quite yet. Windows 10 might give a boost with a major assist from new chips from intel. Analysts are bearish how big an impact either will have on demand because windows 10 will be a free upgrade and sky link chips wont come cheap. Here is another possibility that pcs will actually get a lift but not until the very end of the year. Yes, windows upgrade is free to windows 7 and 8 users. That will remind people the most ancient windows 7 machines that it is time for a new machine. Sleek new boxes are going to arrive with thinner designs and longer battery life around the september time frame. Should provide their early buzz on consumer interest in 10. There is still hope for a pc christmas. I am confused. Pc sales are going down. Tablet sales are flattening. So what are we using . S to do the heavy lifting, what are people using . They are using their old pcs. They arent buying new ones. The question is whether there will be enough features in newer pcs to make people realize this pc is getting old. I want to do some of the latest stuff. Sky link is fast and has a thin design. If you want to upgrade that desktop or laptop. If the price is right and some prices will be pretty good this Holiday Season that might entice people to upgrade. They seem to have worked that out from analyst reviews on windows 10. Im willing to beg our i. T. Department. Maybe enough disgruntled employees. Beware the software upgrade. 13 minutes left. The dow holding steady. Up 228 points. To call it a wild week would be an understatement. Earnings getting under way in earnest next week. 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Start your Business Today with legalzoom. We just got word from art cashin the imbalance is to the buy side to the tune of 300 million. Wouldnt be a huge amount but is something to keep an eye on. That would be ken mahoney on the right there and independent Investment Consultant david darst. We were just saying what happened to the quiet week. Grease, china, its all there. Its like the perfect storm. We gap up and are holding that gap. You brought up puerto rico. Its on your mind . They are a country thats got the same debt as venezuela with 1 3 the number of people. My best guess is things will be kicked down the road until after the 2016 national elections. Youve had talks about restructuring. You had this report done by the people at imf and world bank. It is not a country. It is an obligation that needs to be met. I do believe it will be kept on ice. It will not be as important to the markets as the greece and china situation. This week tells us we are the beneficiary, look at china. The markets manipulated. You dont know how to trade that market. Japan in a 30year recession. We think the beneficiary will be largecap stocks. At the end you look around the world and the risk reward level in the u. S. Seems to be the best case at the moment. Janet was neutrally dovish again today. How can you trade the Chinese Market up 8 one day, down 8 the next . Its a yoyo. People trust the u. S. Market better. Global Money Managers included. Im with ken mahoney but keep buying japanese equities. Shinzo abe restructuring. Valuation half the book value of the United States 2. 6 to 1. 3 . Youve got the Earnings Growth story and fourth is the Asset Allocation shift story. The government Pension Insurance fund, 1. 3 trillion. Japanese equities announced they are going to 25 . Europe 34 , japan 10 . We think they will follow that. Its up 13 or 0 so in dollars. You can buy in hedge. Stay with japan, as well. Its a good way to get exposure out there. If china plans to become a special drawing right currency. Theres four the pound, yen, dollar and the euro. I find it interesting. Nobody made this link. Their market peaked out june 12th. June 9th we talked about it here. Msci said they are not going to go in the index. All that money was flooding in hoping that the index funds would follow. It did not happen. Buy japan and buy the u. S. Buy ken mahoney. Thank you, david. Bye, gentlemen. Byebye. Well come back with the closing countdown. Stay with us. The latest on greece and signs they may be capitulating to demands. Can you tell what makes them so different . Did you hear that sound . Of course you didnt. Youre not using ge Software Like the rig on the right. Its listening and learning how to prevent equipment failures, predict maintenance needs, and avoid problems before they happen. You dont even need a cerebral cortex to understand which is better. 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Bob pisani with me. The best performing sector for the week Consumer Staples with a gain of 2. 1 . Utilities made a comeback. Up 1. 8 for the week and Consumer Discretionary up 0. 62 . Boast defensive names. Very much so. Materials. The worst performer for the week followed by telecom and energy. I would have thought energy would be the bottom of the list there. Again, commodities on the drop in oil and the drop in the china issue. There you see the whole issue reflected in china. This is a weekly chart for the shanghai index. For the week down 8. 5 . Had its best twoday rally since 2008. The big etf here in the United States that represents the 300 biggest stocks on the shanghai had a move 20 down then rallied back. Its insane. Watch this trading chart. The pattern here. This is shanghai. Now here comes germany. Dax index. Very similar. A late week rally and for the week, the German Market up 2. 3 . Our own Dow Jones Industrial average, look at the volatility there. Unbelievable. This is a 250 to 300 point range four days in a row. On a normal day the dow will move 125 points. This is twice the normal volatility youll see in the stock market. We were up 0. 25 . We are not far from where we started. But we had fun along the way. Lets do it again. Thats it. Well close out of the 200 plus point gain on the dow and look to see what the Greek Parliament does with the offering on the table. That could happen in the next hour. Now the second hour of closing bell with kelly evans and company. Have a good weekend, kell. Thank you, bill. Welcome to the closing bell. Im kelly evans. What a week here at the New York Stock Exchange. Lets begin with where we are finishing today. A strong bounceback session. Hopes for a deal with greece are high as we head into the weekend. The dow up 211 points off the highs of the session but a Strong Performance nevertheless. Shares of apple yesterday were down hard. Rebounding today, leaving the index up 1. 2 . S p up 25. Nasdaq adding 1. 50 and up 750. Evan new mark sara eisen and guy adami. Welcome. Impressive stocks did this even though the 10year yield jumped back up. What if there is no deal this weekend . There is going to be a deal. Well talked about it the other way. Its not cooler heads will prevail. As i said before if i owe kelly evans 10, thats my problem. If i owe you 100 million, thats your problem. There has to be some negotiation. There has to be some sort of outcome. It doesnt mean its a good one but will be a resolution one way or another. Technicals matter. We talked about 2050 in the s p being support. Guess where we stopped at the last couple of days . Right there. We talked about 121 on the iwm being support. Look where we stopped. We said in terms of rates, 10year, 2. 25 was resistance on the up side. Look where we stopped as yields went lower. Effectively 2. 25. Technicals held up. Doesnt mean i believe in a rally for the fundamental reasons. I believe the s p is going to go higher because thats what its done the last six years. It shrugged off every potential piece of bad news. We actually had a string of earnings as we start to get an early look at this season that looked okay, whether its alcoa, pepsi, walgreens. Next year we get into full swing. Are those fundamentals going to kick in . Probably not. Companies have become quite expert of massaging earnings expectation. Revenue was higher in alcoa. Plus or minus, analysts havent been that far off. Two lessons this week. You want to hear them . Lesson number one is sometimes investor, you are better off doing nothing. The last few weeks, if you tried to follow every single headline over the last couple of weeks, you almost certainly lost money and didnt know what you were doing. The second lesson is sometimes the safety trade is not that safe. If you go back two days look at the tlt, the proxy for the long bonds. You would have been buying that over 120. It was trading in 115 and closed about 115. Safe trade lost you about 3. 5 to 4 in two days. All those people running for safety congratulations, you managed to lose 4 on your money in two days. The u. S. Stock market is maybe the place to be. We are seeing some investors maybe respond to that. I think retail inflows last week finally picked up. And you had what classically is called a relief rally. You had importantly two backtoback gains on the chinese stock market which is starting to look scary especially in the face of everything, chinese policy makers were doing to stop the slide. You have what looks to be a deal and capitulation by greece going back on some of its earlier negativity around some of the programs its going to implement, around pensions. We got through a trading glitch unscathed. The market traded functionally. To your point, the dow is off 50 points on the week. During the week for 3,000 point round trip. One thing i know you are always down on me, you never want to do anything. I want you to know oh did you a make a trade . Tiny. Nibbling. Chinese stocks . No. Thats a gamblers market. Energy sector is looking interesting. You bought that before the 8 drop in crude this week . No. I bought it this week. Nibbling. A contrarian play. Michelle carusocabrera is in athens with the latest. Any indication when this vote may happen . Oh its getting later and later by the minute. Theres been a procedural snafu we learned about. Historically when it comes tole greek measures parliament votes at midnight. We expected the voting to start in about 55 minutes. Something happened with the procedure. I dont understand the process, but theres been a delay. Its going to happen some time well after midnight we are told. Could be 6 00 a. M. Local time. That doesnt change any of the political tine ammics. It is expected Alexis Tsipras will get the vote he needs. It will be more delayed than anyone expected. Thisses supposed to be the first down payment from the greeks to prove to everyone and their creditors that they are serious about implementing the measures in this proposal. I cant believe anybody watching this thinks that by monday this is the last we are going to hear about this. Im all for the greeks coming to an agreement. I think its terrific whatever. Realistically, this thing is going to be a continuing saga. Its just going to go off the front pages for a while. Dave serbo echoed your point saying from a purely markets point of view, he preferred the greeks leave the euro zone because it could be absorbed. Its been talked about, priced in to some extent already. Now it does drag on the uncertainty for quite some time doesnt it . Yes. The issue at least for this weekend is do they move the ball forward enough that they can, the ecb can loosen up on the greek banks in any way . Can any cash start to return to the system . At least thats how they are seeing it on the ground. You are right. Is this done done done by monday . Probably not. Is it good enough that they get somewhere with the ecb bottom line . Michelle thank you so much. In athens live for us still today. A wild week for the market absorbing this and other things including the worst outage of the New York Stock Exchange in its history. That was the coda on the week. One wild week in the u. S. Europe and in china. Here in the u. S. Look at the dow. Dow industrials moved 250 to 300 points range from the high to the low every day since tuesday. Thats twice the usual volatility. In china, forget about it. Just look at this is the ashr. It moved down 20 in two days earlier in the week. Then rallied all the way back. This etf represents roughly 300 largest stocks on the shenzhen. Its like the dow moving down almost 4,000 points two days and going all the way back. Its been really volatile in europe. Germany swung from the lows on wednesday when it looked like there would be no deal to the close on friday when it looked like it closed at the highs for the month. Weve got another busy news week. Janet yellen will give her semi annual twoday testimony to Congress Beginning on wednesday. Other central bankers will be busy. European Central Bank Bank of japan meeting. Everyone will want to know what mario draghi has to say about any deal with greece. Finally, weve got earnings season Jpmorgan Bank of america will be reporting. It will be another wild week. I love it when its like this. We can see it. You light up. I know. Im lonely and need a real life. You love this stuff and being right in the thick of it. Bob pisani appreciate it. Guy, what trades do you put on amid all this . Evan talked about energy and we talked about the refiners for quite some time. Look at tso. Look what valoro did Given Crude Oil and the way spreads are moving it lines up for the refiners. They traded well this week on what was at times a lousy tape. I think you stay with those names. If you look at some of the things, mcdonalds is finally starting to peak its head up. Maybe thats ready for a turn. The way mcdonalds traded was interesting. Even ibm traded up today, which is pretty startling given that performance. I think the thing people are not focused on and what could be the bugaboo, coming into earnings season. You need to finally see Revenue Growth that you havent seen now for years. Fair enough. You want to elaborate on those energy plays you were making . No. Im a contrarian. Generally speaking im a contrarian. If you look at versus the highs towards the end of last year look at the Energy Sector look at one of the etfs broadly speaking youre down 30 , 35 , exxon, chevron, big oil names. Do oil prices have to stabilize for trades to work . As long as they dont take a precipitous downward dive and dividends they are paying you are looking at a 3 dividend yield. Easy multiples to hit, assuming the World Economy doesnt completely come off the track. Sara one more trade everyone is talking about again is the u. S. Dollar. Are we seeing after it kind of halting in its tracks after that strength, maybe some renewed interest . The euro was bought on hopes of a greek deal and resolution. You are right that we heard from janet yellen. It was a nonevent compared to whats happening in greece. She did take questions and was clear they are on track to raise Interest Rates. She reiterated her message which is its not about the first rate hike but about the path. She doesnt see why you shouldnt keep accommodative policy throughout. There wasnt a strong reaction but yes, if you have a better u. S. Economy, an outperforming u. S. Economy and Federal Reserve even as easy as the fed is as a first mover, that would bode well for the u. S. Dollar and it could resume this uptrend, which could be unhelpful for u. S. Stocks and earnings. Well see what happens. Should be less of a headache in the earnings season this quarter as it was the first quarter. Obviously, it factors into guidance and overseas sales. I bet well hear more next week. Guy adami, thank you so much. Appreciate it. There will be more with guy and the fast money team at 5 00. Chinas recent stock plunge may slam the brakes on auto sales in that country. How worried should auto investors be about sales recovering in the Worlds Largest car market . Facebook taking aim at youtube and google. It took Tim Morehouse years to master the perfect lunge. But only one attempt to master depositing checks at chase atms. Technology designed for you. So you can easily master the way you bank. Welcome back. Auto sales may be redhot here in the u. S. They are getting cold in china. Phil lebeau joins us with the details on this slowdown. At this point its not terrible. Any time you have a slowdown of the largest auto market the place driving the profits for so many automakers around the world, there is genuine concern there. Take a look at the latest numbers from the china auto manufacturer association. June retails sales were down 3. 5 . The 2015 sales estimate 20 million vehicles and they are lowering the expectation for sales this year cutting it from growing 7 to growing 3 . A lot of people who may have been in the chinese stock market got margin calls and are saying i dont have the money to buy a new vehicle that. With restrictions on congestion and falling Consumer Confidence has people saying perhaps we see the end of high singledigit, if not doubledigit sales in china. Look at the sales over the last four years. Estimate for 2015 is for sales to grow at 3 and go over 20 million in terms of light vehicles there. There you see over the last three years, its been up 9 15 , 7 . Volkswagen and General Motors. These are the two largest automakers in china among the foreign automakers. They have the biggest share of that market. They certainly have the most exposure. We should point out, when i talked to people in china, analysts, those in the industry almost everybody says the same thing, their exposure is different. Vw has more exposure and more at risk if things slow down continually versus General Motors. Gm is doing much better inner china, western china, especially with lower priced suvs and sedans. You dont want to see that market slow down. Is the chinese auto market all reliant on financing or a cash market . Financing is coming on but not like over here where most people are are outright financing a vehicle they are buying or leasing a vehicle. We are starting to see it in china. Its primarily in your larger cities like shanghai and beijing and some of the other cities. How much of this is because of recent sentiment hit from the market . It only paid down june 12th. Was does this tell us about chinas economy . The big concern is that its more than just people who have a margin call who have decide it cant buy a vehicle. There is concern about the congestion restrictions in larger cities. People who might have ordinarily if they were in the United States said we want a second vehicle. Over there they cant do that. You cant do that in shanghai or beijing or larger cities along the coast. Theres concern as you look at the sales over there, you are seeing growth in these chinese automakers especially away from the big cities. Thats going to put further pressure on the larger automakers outside the country. Keep in mind youve got so much capacity in that country thats already there, and more is coming online. Hyundai has two plants opening up. A number of other automakers want to ramp up production. Isnt volkswagen the big one over there . Volkswagen is the larger one to have exposure. In part because it has so much production and capacity. Gm has production and capacity. For the most part many believe that they are going to be okay if theres a slow down there. They are not overcapacityized. I love the gm fiat talks. How much might this actually add to the case fiat is making for gm . Everybody agrees the case for the cost in this industry is ridiculous. It needs to be changed. They dont agree with his proposed solution that General Motors and Fiat Chrysler merging. Oh by the way, he was up in canada today making a speech in toronto and said there is too much fascination with the gm chrysler deal. I wonder where thats coming from . Perhaps his open letter . Thanks, phil. Appreciate it. Phil lebeau covering the automakers. Im surprised you didnt ask about the driverless car market. You used to have to watch mtv for music videos. Googles youtube long since has become the goto place. Facebook trying to muscle in on googles turf. Details in a moment. It could be worth more than a trillion dollars for the health care. A special edition of the spark, just for evan with the cofounder of the largest incubator of digital out companies. Youre driving along, having a perfectly nice day, when out of nowhere a pickup truck slams into your brand new car. One second it wasnt there and the next second. Boom youve had your first accident. Now you have to make your first claim. So you talk to your Insurance Company and. Boom youre blindsided for a second time. They wont give you enough money to replace your brand new car. Dont those people know youre already shaken up . Liberty mutuals new car replacement will pay for the entire value of your car plus depreciation. Call and for drivers with accident forgiveness, Liberty Mutual wont raise your rates due to your first accident. Switch to Liberty Mutual insurance and you could save up to 423 dollars. Call Liberty Mutual for a free quote today at see Car Insurance in a whole new light. Liberty mutual insurance. Hello. I am here to offer sophisticated investing strategies. My technology can help you choose the right portfolio. Monitor it. And automatically rebalance it. All without charging advisory fees, account service fees or commissions. That may be hard to compute. But im a computer. So trust me. It computes. Say hello at intelligent. Schwab. Com welcome back. Facebook is trying to catch up to youtube and reaping the profits of music videos online. Joining us is kurt wagner. Welcome to you. Just how much of an jechlt would facebook have to make to really take down the titan youtube here . I think obviously youtube has a pretty big head start right now. Thats why facebook is making the initial reach out to a lot of these Music Production companies. They realize in a year or two years, as some of these existing deals that the music labels have with vivo and youtube and others facebook wants to be there. Thats why they are clearly interested in this. I have a question for you. I use youtube a lot and i dont have a facebook account. We discussed this a number of times. For me i love youtube. I do watch a lot of music videos especially old music videos. Taylor swift. What percent of youtubes traffic comes from lets call it distributorsourced videos or standard Traditional Companies trying to distribute videos . What percentage is off the beaten track stuff . I dont have those numbers off the top of my head. Im sorry. Youtube is great because you dont need an to check out these videos. If you want to search for something from 30 years ago you dont have to have a login credential to do that. That is what facebook creates an issue around. People dont have Facebook Accounts or they dont use them regularly that this is a convenient issue for them. That is something they have to deal with. Not necessarily facebook but content creators have to decide is it worth sharing their video with facebook where not everyone will reach it without an account. I feel like i read an article every week for the last two months watch out, youtube, facebook is coming hot on its heels, making moves to go after video ad dollars. How big is the pie they are fighting for . How competitive is it for those video ads . I think its very competitive and getting more competitive when you throw twitter in the mix and what i would imagine is snapchat is also getting into the mix. Weve seen at snapchat which is a much smaller platform than youtube or facebook and probably twitter, what weve seen is those video ads can go for hundreds of thousands of dollars for a 24hour period. I think there is real serious money to be had here. Thats why facebook has been doing things like auto play video to try to get its user base familiar with video so when they put ads in front of them it feels natural. They are trying to do Little Things to butter its user base up for video. They know the most lucrative ads are video ads. If its not pleased with youtubes compensation model, youtube isnt just going to let this business go to facebook. How much more lucrative could these deals get . Sure. Thats going to be interesting to see. Facebook started to do revenue share around video not specific to music video but big brand video. They did the same 55 45 revenue split youtube has been doing all along. You bring up a good point. If im a content creator, im probably going to go to the place that will pay me the most money. Facebook argued we have 1. 4 billion people we can put your content in front of more people, but if they are not willing to pay as much as youtube is that doesnt matter. Ultimately these artists, these folks want to get paid for that. I agree. There very well could be a bidding war as these two start to come headtohead more. Who knew the music video . Its death was premature. I dont think so. You know what im saying back with mtv. The stuff i use on youtube and i will probably never have a facebook account is stuff thats hard to find. Its not the obvious lady gaga. You like lady gaga. I really dont, actually. Kurt thank you so much. Time for a cnbc news update with sue herera. Here is what happening. The fbi director says Charleston Shooting suspect dylann roof was able to purchase a gun because of a flaw in the system. He says a loophole and error by the fbi allowed roof to buy a. 45 caliber hand gun despite having previously admitted to drug possession. He used that gun last month to kill nine people in a historically black church in south carolina. Director comey says the bureau is sick about what happened and wishes they could turn back time. Delta Airlines Pilots voted against a tentative agreement approved by their union and Airline Management and that leaves the Company Without a new contract. No word what the next step will be. Us airways last flight will take place october 17th. The company will be a red eye from San Francisco to philadelphia. It is scheduled to land 6 00 a. M. The next morning when the us airways website will be turned off and all airport kiosks and signs will change to american airlines. This merged in 2015. This monkey escaped from a zoo in memphis and is holed up in a storm drain. Officials are waiting out the standoff with nets. Officials say he isnt dangerous. Maybe he just wanted to join the circus or go out on a beautiful day. Who knows . Theyll get him. They are going to get their monkey. He almost looked like a panther there. Its a big monkey. There you go. Way to go buddy. Sue herera thank you so much. The clock is ticking on greeces future in the eu. We are still waiting for the Greek Parliament to vote on the new bailout proposal. We will head out live to athens for the latest. Disney betting a tiny superhero can bring big bucks to the box office. Is ant man the beginning of the end for comic book movies . Thats why i have the spark cash card from capital one. I earn unlimited 2 cash back on everything i buy for my studio. And that unlimited 2 cash back from spark means thousands of dollars each year going back into my business. Thats huge for my bottom line. Whats in your wallet . Mornings. Wonderful, crazy mornings. We figure you probably dont have time to wait on hold. Thats why at xfinity were hard at work building new apps like this one that lets you choose a time for us to call you. So instead of waiting on hold, well call you when things are just as wonderful. [phone rings] but a little less crazy. Were doing everything we can to give you the best experience possible. Because we should fit into your life. Not the other way around. Welcome back. Lets take a look how we finished the day on wall street. A strong session to finish out the week. Take a look at the s p 500 closing at 2076. Thats where it closed last friday. Pretty much a round trip. Apparently investors not worried about the crisis in greece or expecting a positive outcome, pouring money into u. S. Stock funds in a rate we havent seen all year. Brian sullivan with those details. Investors have been getting back into the stock market and in a big way, at least through the middle of this week. According to the latest data stock funds took in the most money of any week this year. In fact as of wednesday, stock mutual funds and etfs had taken in a total of 14. 1 billion. Taxable bond funds took in around 3. 1 billion. Inflows dominated by etfs over funds, etfs taking in the most money by far. Investors bet big on the overall market. The s p etf called a spdr took in 6. 7 billion of those dollars. Making it the single biggest winner. That was followed by the select sector financial spdr etf which took it around 2 billion. We are going to leave with you this interesting nugget. Despite all the turmoil around china and greece the data showed mutual funds geared towards International Investing had inflows of 2. 4 billion. That was actually far more than domestic u. S. Stock. If you are betting on a fund you are probably betting overseas. An interesting trend. Thank you so much. Have a great weekend. The deadline looming for greece to come to an agreement with creditors. No word whether the eu will accept the greek bailout offer. Elan joining us from athens. Werent we expecting the vote by now to begin . Its about 11 30 our time. The vote is scheduled for 3 00 in the morning. Its going to be a late night over here. The open question is how much members of Prime Minister Alexis Tsipras own party might vote against the deal . He abandoned the eded the hard left to come to this concession with europe. There are members that say grexit is the only way to go without a rally. They were handing out fliers chanting carrying signs that said no bailout, old or new. I talked to one young man who said he felt like continuing the austerity measures that have been in place was the equivalent of committing economic suicide. There are still people here very opposed to any type of deal. Ylan what would happen if this vote isnt passed . How likely based on where we stand at this hour does that outcome seem to you . It is likely the vote will be passed but what is unclear is how popular it will be within the party. There are some thoughts if he does not get a majority of his own party to vote in favor of a deal, that could jeopardize his ability to govern after a decision by euro leaders is made on sunday. Really, you see the first test here in athens for any hope of a proposal. The second test will come tomorrow when that euro Group Association of finance ministers meets. Its sara. I wanted to ask about public opinion. Even though the greeks did vote no, there was always this feeling in the sense they wanted to stay in the euro zone and didnt want to compromise on that. Is that still the feeling given the fact the Banking System in the economy there is shut to a halt and the cash squeeze gets worse by the day . Yeah. Absolutely. I think there is a very difficult line a lot of the opponents of the austerity measures are walking, which is there was a cry of pain to say, hey, our economy has been in free fall for several years now. This is really hurt us. These programs hurt us. The same time they feel europe is their home. This is where they belong. Alexis tsipras says he feels he is choosing between a bad choice and a catastrophe. I was curious where the exminister of finance was today. He kind of took a leave of absence for his family. I noted that in the paper. I was wondering if he has reappeared and is he going to come out and Say Something publically . He said he will not be voting, but there was some pictures in greek media of him on a boat headed toward what looked like a villa. He said hes had family issues he has to deal with. No doubt in a tight tshirt as he usually is in sometimes on a motorcycle. Its fascinating. Its a weird situation there. Really are two terrible choices. As far as im concerned, i dont think greece really matters in the scheme of things. For at least the last few weeks, the rest of the world disagrees. It matters to the 11 Million People who live there good luck tonight. 3 00 a. M. Local time the latest vote. Fitbits massive post post office rally how the internet of things and health care are creating enormous new business potential. Up next, meet the man behind the largest incubator of Digital Health companies. Have you seen apples new iphone Marketing Campaign . Yelp. When you design the whole phone, all the parts Work Together as one amazing part. If its not an iphone, its not an iphone. 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New york state is reinventing how we do business by leading the way on tax cuts. We cut the rates on personal income taxes. We enacted the lowest Corporate Tax rate since 1968. We eliminated the income tax on manufacturers altogether. With startupny, qualified businesses that start, expand or relocate to new york state pay no taxes for 10 years. All to grow our economy and create jobs. See how new york can give your business the opportunity to grow at ny. Gov business at a time more and more entrepreneurs want to get in the health care space, joining us now to give as break from greece for a moment in todays edition of the spark is the cofounder of startup health. We hear trillion dollars going into this space. Give us early examples. Weve seen a couple of companies go public fitbit have really opened up investors mind to the potential what is a multitrillion industry. Over the last several years, really the investors have taken notice of this enormous opportunity that entrepreneurs have to reimagine every aspect of health care. Fitbit i get. Tracking devices, consolidating that data. Apple is doing the same. But beyond wearables, what about the hospital level, doctor offices . It feels like there is so much more happening. There is. We Just Announced a Big Partnership and investment from Aurora Health care in wisconsin. The ceo nick turkle recognized the big power embracing external innovation to solve some of their Biggest Challenges to transform care delivery and lower costs. What are those challenges . When you think about care coordination, when you think about Behavioral Health you think about every aspect of our own experiences as patients in hospitals from being diagnosed all the way through to treatments, there is nothing that has truly been embraced by Technology Like this moment in time. Every other sector has been transformed. Health care has not yet seen that moment. What is it you do that the traditional Silicon Valley community doesnt do . Do you do biotech . What do you stay away from . What do you like . We love Digital Health and wellness. We dont do pharmaceuticals or Life Sciences yet. We see enormous opportunity to bring all the entrepreneurs and all the stakeholders together. Our portfolio of what is now 105 entrepreneurs meet every 90 days to actually spend time working on figuring out what works and what doesnt work. When you start to layer on Angel Investors to that community, you see an army of entrepreneurs and stakeholders trying to figure out over the next decade we can really Reimagine Health care together. Is there too much capital chasing these opportunities . Not enough. 105 people. Ive got vcs falling over themselves to find the next opportunity, the next fitbit whatever. Is capital the limiting factor . Actually not the limiting factor. Theres 2. 8 billion flowed in the first half of the year. What is face nating it feels like 1995 internet. Ive been an entrepreneur 20 years, start made First Company in 1995. Health care hasnt had that moment yet. Its that Creative Destruction moment where everything gets reimagined. The biggest limiting factor are big organizations, health care organizations, the hospitals having leaders, ceos like nick turkle organizations like ge having jeff immelt. We are just getting started. Some of the companies that bought some of your Portfolio Companies include under armour intel, web md and gene by gene. Which companys are on the forefront of Digital Trends when it comes to acquirers . Under armour has done a fantastic job starting to build very forwardthinking communities around patients or people who are engaging with their devices in a very unique way. I think under armour has. One of the things we saw in the last few quarters is corporate venture capital, ge qualcomm and others leaning in and understanding they need to get involved early in the whole ecosystem game. Instead of waiting for these companies to mature, they are getting in early. What ge has done is nothing short of phenomenal. Large organization like that truly embracing early stage innovation. Great point. I was going to ask who the uber is. Sounds like we dont have the netscape yet. A lot in the pipeline. Very early. Thank you so much. Thank you for having me. You can check more around the spark at cnbc. Com thespark. There you are. The hand on the hip. I was waiting for it. Comic book movies have been huge hits for movies. Could this genre be at trouble with the release of ant man . Its back. Alpha conference where some of the biggest names gather to share their best ideas. It takes place july 15th. Ill speak with bill mueller and jeff gundlach. Welcome back. It has been a fairytale ride for disney investors. The stock hitting an alltime high today. Ant man hits theaters next week. Its projected to hit 60 million next week. Still the era of the comic book movie could be in jeopardy. Eric, is ant man the beginning of the end . It has to be. This is coming off the bench. Its not a starting lineup type of guy. This is not spdrman or superman. Weve seen the peak in the number of comic book peak in the number of comic book movies that are out there. It was 2011 when we saw over a dozen movies. Now its only about a handful. And if you go back the last couple years none of them had an r. O. I. Over 100 but 13 movies from 2000 until 2012 had r. O. I. S over 100 . Sought numbers are getting worse in quantity, theyre getting worse in profits, and if you look at the sequels they get worse and worse every single time. So i know we have a couple charts on that just showing that look at that 1 . They keep doing these spidermans up to the point that theyre not even making a profit anymore. Think about econ 101, supply and demand and if theres some demand people just keep flooding supply until the numbers come down to the point where no ones making a profit anymore. Thats what were getting to. Why are disney investors so bullish, then . Its the bubble top. Everyones bullish at the top. Bob iger even said we know we spent 4 billion buying marvel. Were not concerned that d. C. s going to go into the movie business too. They just have this confidence that you see when these types of bubbles happen. In fact, jane wells even said at comiccon a lot of the real interest isnt in the movies anymore, its about putting it on television. So if you look at amc, cw all the comic book action happening on im on a website called den of geek right now. I like the realtime research. 54 upcoming comic book movies. And when to expect them. There are 54 but not next year. They can take a decade. These are all tier 2 and tier 3 things. Banana man. Does the ant man eat the banana man . Flying banana. The thing i find staggering is theyre developing comic book movies and the comic book industry has basically disappeared. Its for people like you. People who grew up reading comic books. Nobody reads comic books anymore. For people like you who grew up reading comic books and a generation later they want to watch the movie. Who grew up reading antman . My dad grew up reading antman. But hes not here on the panel. Antman was never a tv or film franchise right from the start. It seems like todays success in movies is an iteration of content we already had as opposed to ripping something out of a comic book evan which to your point were not seeing new stuff coming on board. These were already tv movies or tv series and movies over the years. I think as long as there are good characters, whether or not theyre superheroes or not, good characters with good stories, good back story there will always be opportunity. The question is when the characters, you start recycling them what is the ant man back story . Did they ever make austinie movie . I cant keep up with it. Its like the tech stocks from 2000. Were seeing a bubble here. Something to watch. This movie might do well. But if they start doing an antman 2 where is that going to go . Hes calling the top. Im calling the top right now. Only you would do a story about comic books and data. Its news driven. I think antman just looks so ridiculous to some extent. You said it. I want you to talk to your father later. Hes not going to be happy. Youre down on antman. Apple commercials have always shown consumers how the device can make their lives better but apple doing an aboutface on their advertising now launching a new campaign that has many peopling scratching their heads. Well show it to you next. This is a great place to work. Not because they have yoga meetings and a juice bar. Because theyre getting comcast business internet. Comcast business offers convenient installation appointments that work around your schedule. And it takes done. About an hour. Get reliable internet thats up to five times faster than dsl from the phone company. Call 8005016000 to switch today. Perks are nice. But the best thing you can give your business is comcast business. Comcast business. Built for business. Its been a rough week for apple. The stock did rally today with the Broader Market but still down about 3 on the week. And today we got a glimpse of a new apple ad. The company uploading two new iphone commercials to its youtube page in which it debuts a new slogan at the end. This is an iphone. And it comes with something different. 99 of people who have an iphone love their iphone. If its not an iphone its not an iphone. What do you guys think . People on the internet think its a little strange that they would do this that they would separate themselves from everyone else. Its arrogant. But you know people love their iphones. So i think its okay. I dont get it. I dont get it. By the way, and again, my disclosure, my wife works for google. Yep. I dont understand what the point of the piece is. I think theyre trying to fight the commodification thats happening as people referring to any mobile phone as an iphone. I get that. But its interesting because the thing is its one of those things, its like its better if you never say it. Its like understood. Like if youre a member of the club, kelly. You dont go around telling other people that youre a member of the club. Its understood that youre in the club. And thats like an iphone its like its an i6789phone. You shouldnt have to say were not like other people. The other interesting one they also launched is their software and their hardware work well together and i think that one was more interesting because it was a sort of direct hit at google which makes its Android Software and many other hardware makers make the phone. I think theyre trying to distinguish themselves as the premium brand that they are, that they do charge higher i miss the macpc ads. Those were great. The s p roundtripping pretty much this week. Are you going to correct yourself . I said a week ago it closed at 2076. Evan would like to point out, everybody, the markets closed on thursday of last week not friday. You like to be factbased. We like to be accurate here on closing bell. Seriously, though, now that weve done this does that mean were setting up to at least move decisively one direction or the other . Is it going to be more of the same . Weve got a lot of event risks coming up. I actually think sleepy summer. Maybe earnings will be very good. It hasnt been sleepy so far. But youre moving into mid to late july assuming this whole greece thing kind of moves on, assuming nothing super untoward happens in china, i think youre going to see kind of a sleepy summer where are people going to wait to see if the u. S. Economys actually continuing to grow like we think it is kelly . And then maybe you might see some positive action. At the top of the hour guy was suggesting we did test a lot of the lows and move up off them, sara. Perhaps to people looking for a reason like u. S. Stock investors to get in last week theyre seeing theyll see that and take some comfort it n. It. And the hope is the focus returns back to the positive u. S. Economic data that we have been getting which has taken a back seat to whats happening in greece and china. If we see stability in both of those places we can focus on that. U. S. Earnings are coming in full next week. The commentarys always good. Obviously, guys looking for Revenue Growth. But so far earnings have beaten even if its not driven by solid Revenue Growth just Margin Expansion and pricing and that sort of thing. And janet yellen is also giving her testimony next week. Thats right. Different clues to when the fed is going to move. Same day as theyre delivering alpha coverage. Thank you so much for riding along with us. That does it for us on closing bell. Have a great weekend. And fast money is coming up in just a few moments. Melissa lee, whats on tap . Hey there. Were awaiting at any minute the greece vote. Todays rally predicated on developments in greece. We want to see what happens here. Obviously thats going to have a big, big factor in terms of mondays trade. And elon moore was just telling us 3 00 a. M. Now, melissa. This thing could drag on. Thats true. Well want to here what michelle says out of athens because that vote is expected in just about a minute. Straight over to you guys. Fast money starts right now. Im melissa lee. Breaking news this hour, stocks surging into the close with more than 1 gains across the board. The dow soaring more than 200 points on hopes that i deal out of greece and the moment of truth for that deal is right now. Cnbcs got breaking Team Coverage across the globe with Michelle Carusocabrera live on the ground in athens where the Greek Parliament is set to vote in the next couple of hours on a new set of reform proposals. Steve liesman is in frankfurt with reaction from the germans. But michelle, we start off with you. What is the latest and why is there a delay in this vote here . So there was a procedural snafu we learned
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