The economy. Oil, should we forget all the forecasts and run for the hills when you see prices moving down . Thats brent. West texas even lower. Walls of water from the midwest to the east coast. Look at that. Major flooding, really intense storms this morning on the east coast, and through much of the central and eastern part of the u. S. This is from nebraska, a hospital getting absolutely washed out as water came rushing in. First, though, to sue at the nyse. Separate dramatic video, tyler. Were going to start with stocks. The Dow Jones Industrial average is on the up side now by almost 100 points. The s p is up 12. Nasdaq composite up 36 and the russell is with up modestly. Up 62 points. The tenyear u. S. Stocks here at home rising. So here are the and then falls, japan gmt dp for qit plumme plummets, and chinas money flow slows, u. S. Retail sales for july below expectations. That begs the question el we just the bestlooking markets among mediocre performing markets . Or why else are we you . I think this is a buy the dip day. We had a tough time throughout europe, japan, the whole month essentially. We have a global rally. There wasnt just anything one thing here. Gdp was disappointed, they were expected to be down 7 . It was a crumby gdp, so we bounce the in japan, korea bounced germany was strong throughout the day. So weve got some real stability now. The 3 1 advancing to declining stocks, momentum names, the old names you all know. All stable today. On the up side rallying nicely. Oil is at 13 month lows. Brent is a big positive for the consumer. The markets are overall. If you look at the vix the vix is down at 13 again, so the market is not expecting too much activity. Finally dont get too excited about all this. I dont normally show you. This is a way of showing i havent seen it in a long time, how stocks are performing volume on the up side versus volume on the down side, when its well over 1, it means not as much volume proportionately, in other words, this market isnt quite as strong as you actually think. Theres more declining volume in a lot of these stocks than it look like. Thank you bob. See you in a bit. To chicago now with breaking news. The tenyear notes up for auction. Were going to give it a cplus. A bit better than yesterdays auction. Lets go through the internals. Then it would trade and go back. So it didnt really price very tight in my opinion. Thats where a little of the downgrade comes in. But just the last auction we had a 288 so all Things Considered tomorrow well have 30year bonds. More breaking news this hour brazilian markets. Chief International CorrespondentMichelle Carusocabrera is tracking the news. Eduardo camp poos, and they e he died. We have video from local brazilian television, which shows the site. This has caused large disarray in the markets, and within the campaign for the presidency coming in october, because its unclear where Eduardo Campos votes will go. He had about 10 of the vote. Now he will not be part of the race, where do they go . And then mean that there would be no Runoff Election in october. You can see the trade here in the United States. The currency, all moving very sharply. A lot of investors do not like the current president of brazil. They would like her to lose. The more her polls suffer, the brilliant market improves. The question is as to what degree does it affect her ability to win. Back to you. With all bad news, is the u. S. The best place to buy stocks right now . The you tilts are down. Take a look at the chart, you can see its been a slow and steady move to the down side. We now are joined by ben willis, and michael farr is president of farr, miller and washington. Bob says its a buy the dip day, but what about the other indicators. On a dime we turned and gave it back. The question is whether we get back through 1950, is the next resistance level. But the argument about the bull market were seat right now seems to be arguing over the quality of the champagne. Things are good and when you look at when that news hit the tame, our future screen to the up side. So the rest of the World Economy is doing okay. But overall theres still pretty good pictures out there. I think, michael, you pretty much agree with most of that. Is that correct . I do. I just like the cleanest dirty shirt i hadnt heard that one. I like that. I think the u. S. Is in a good position this is really not a big deal. Up 32 last year, up another 5 or 6 so far this year. When we see this pullback that weve seen in the industrial stocks, when we have the yields falling on the tenyear treasury. When we have Energy Prices coming down, were getting clear message that is were not amid some robust economic recovery, but steady as she goes is not bad for these levels. Im agreeing with the champagne. All right. What would you be putting money into right now, michael . I think you always try, sue, hit them where they aint. I continue to like health care, i continue to like consumer staples. Pe multiples are high. The stock market is at an alltime high. While people are getting giddy about the returns, this is no time to tread to the thin branches. United tech nolgszs, one of the Industrial Companies i talked about earlier has pulled back. I like that company a lot. I like the emerging Natural Foods business. So whole foods down 40 . I think theyre here for the long term. I like the numbers, i like that stock and i like united Natural Foods as well. Ben, thank you. Micha michael, always good to see you. Dominic chu has a market flash. Theyre all moving higher, so yes, back over to you. Thank you very much. That never hurts the airline stocks, by the way. Is this the best Global Economic gauge . Thats the question. Could forecasters be wrong and oil right . In other words, is the is oil saying that the Global Economy is weakening market . Lets ask steve, chief economist at mizzuo security in the u. S. Is oil telling a story that we are missing . I think oil is reflecting the fact that a Global Economy is not as robust as it has been in the past few years. I think there is a bit of a concern, you know, that europe is losing a bit of momentum. China really isnt getting all that momentum despite the discussion about the product numbers. The reality is china is being stimulated very aggressively by its central bank and its government will continue to need to be so in order to maintain lower growth numbers. At the same time latin america is also not doing particularly well. Were just basically bumbling along, so the recall is demand side isnt there. I am concerned about getting overly worked up about the fact that Oil Prices Keep on sliding lower, because what we have in the United States right now is expensive energy. And if Oil Prices Keep on sliding, youre going to see a lot of shutdown of product, because its uneconomical. But supply is higher than it has been. Thats the other side of the equation here. Throws no doubt there is supply, but you also have to keen in mind that is a function of price. When it costs you to take it out of ground to produce it, once you get to a point where prices drop down, youll start to see some significant shutback of production to come in. That will limit the downward movement on prices. Thats part of the problem. We dont have energy renaissance. That complies bunden energy at very cheap prices. We wen see oil prices drift down, youre going thats from a person standpoint. But is that really going to drive the u. S. Economic recovery forward . The reality is most the causality goes from the energy to the economic, not as much from the economy back to energy. Even though the demand is there, a lot of it comes down to the pricing pow are being driven by the supply components. Thank you very much for being with is. I cant remember the last time i saw mayys react the way it has. The stock is falling after posting weaker than expected profits and cutting the fullyear outlook its down about 6 on the trade. All feeling the effects. Back over to you guys. Were going to talk more about that. If people are not shopping at macys where are they shopping or perhaps better said, how are they shopping . She just released a report today, and the only way that retailers can win is to conquer mobile. Good to have you with us. Thank for joining us. Thanks for having me on, sue. Who is taking market share if mobile is the way to go, and macys isnt managing to pull people in . We think they could be having market share taken away on both ends. J. , j. C. Penney was absolutely struggling. They basically walked away 6 billion of revenues under prior management you actually have some of the these walking away to israel over j. C. Penney. You wouldnt have thought that just a couple years ago, as you said. Exactly. But we are expecting them to post positive single digit or samestore gains. On the higher end you have folks like nordstrom. Right. Tell me what nordstrom is executing well on. I think whats so great about nordstrom is they are where the consumer is, and youre right, the consumers on their mobile phones are more apt to get on it before they get in a car. Nordstrom has been a van guard as far as making tech savvy investments as a retailer. They have done a long as to their mobile engagement. They have a fantastic mobile app. They were exactly where their customer is online. Thank you. Well leave it there. Very interesting report. A big mystery involving one of the worlds Top Luxury Hotel brands. This is a story you dont want to miss. It will shock you. And the truth behind americas broken tax system. How much do corporations really pay . Dom chu knows. In fiscal 2012, the government corrected about 2. 2 trillion in cabses, how much do you think is Corporate Taxes . The answer may surprise you. Well tell them when we come right back. There are no branche . 24 7 its just im a little reluctant to try new things. Whats wrong with trying new things . Feel that in your muscles . Yeah. I do. Try a new way to bank, where no branches equals great rates. In todays market, a lot can happen in a second. With fidelitys guaranteed onesecond trade execution, we route your order to up to 75 Market Centers to look for the best possible price, maybe even better than you expected. Its all part of our goal to execute your trade in one second. Im derrick chan of fidelity investments. Our onesecond trade execution is one more innovative reason serious investors are choosing fidelity. Call or click to open your fidelity account today. Welcome back. This on the record that theyre taking interests the stock is currently trading up about 14. 5 . Sue, back to you. Thanks, meg. Appreciate it very much. Sea world missing estimates. The theme park operator also forecasting a drop in revenue and earnings for this year. The stock is poised for the worst day on record. It is down 33. 5 . Southern company downyayed to underweight from equal weight. The firm also cutting the price target to 40 from 46. The stock is faring pretty well given that its off. And es, property upgrading, also raising a price target to 214 to 188. The stock is responding by moving up almost the lieu of recent socalled inversion deals put the spotlight on americas tax code. All day on cnbc, we take a closeup look at the u. S. Tax system. Dominic chu is back with us about the truth about Corporate Tax systems. Here in america its interesting. We went back to data back in 2012, fiscal year 2012. We found that they collected net taxes about 2. 2 trillion. Its interesting. Corporate taxes has been a huge subject, make up a decentsized chunk, but not the biggest. The big chunk a bigger chunk comes in the 36 from employment taxes that get taken out of paychecks, and the vast majority of it, the vast majority, 50 of all taxes collected comes from you and i, individual taxes, estate taxes, trust taxes, that sort of thing. Thats where the bulk of tax income comes from, about 10 cents out of every dollar. If you frame that with regard to other big countries around the oecd has its own estimates about 20 is it and what percentage of gdp, Economic Activity those tax dollars make up. You can see the u. S. Here, about a quarter of all tax revenue, then you have chile, 21 , south korea, 27 , germany, its almost 40 of its gdp in terms of taxes, and then detection mar is a big one. Nearly half of their gdp is collected in tax revenue. Just the Corporate Tax side alone, this is interesting. For the u. S. , about 2. 5 of gdp comes from Corporate Taxes, germany, only 1. 8 . Thats what a lot of people say, but look at canada. 3 comes from Corporate Taxes. All the way up to japan, and then on the far end of the spectrum. Norway, almost 10. 5 , tyler of their gdp is in just Corporate Taxes. What that does. Interesting numbers. Dom, thank you very much. Todays Yahoo Finance question of the day where do you stand . 13 say corporations should pay more. 19 says less. 53 say lose the loopholes. 15 say there should be zero Corporate Income tax. Sue . Ty, this is a really bizarre and very disturbing story. The body of an American Woman found stuffed inside a suitcase in the Luxury Resort the st. Regis in bali. What have you been able to dig up . 62yearold shielda von, a former aide to the late senator kennedy. She was staying at the posh resort with her daughter and daughter boyfriend, both of them are now under arrest. Macs body was found in a suitcase in the trunk of a taxi. According to local news reports, the taxi driver tells the police that the young couple had hailed him at the hotel, put the suitcase in the trunk, so two hours go by, the couple doesnt show up, the driver and thats when the bloody body is discovered. The couple later found at another hotel, reportedly claiming they had been abducted and escaped. The citi regis is a fivestar resort where rooms this time of year start at 800 a night. It will be interesting to see what we can find out about that story. Scott, thank you very much. Big news from facebook. Julia boorstin is in l. A. Hi, julia. Facebook unveiling a totally new way to measure house its ads work. Ill have the details after the break. Up next, lights, camera, power pitch. A cell phone case aiming for the picture perfect selfie. Will the panelists strike a pose or shut it down . 39. 95 mae strike some as steep. What stops someone like apple from doing the same thing . Are you in or are you out . Go to cnbc. Com vote right now. Get ready to start voting. Moderate to severe is tough, but ive managed. I got to be pretty good at managing my symptoms, except that managing my symptoms was all i was doing. When i finally told my doctor, he said my crohns was not under control. He said humira is for adults like me who have tried other medications but still experience the symptoms of moderate to severe crohns disease. And that in clinical studies, the majority of patients on humira saw significant symptom relief. And many achieved remission. Humira can lower your ability to fight infections, including tuberculosis. 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We have issie lapowsky, at wired before this she was at inc. Cricketing to the under30 list. And also joining us from San Francisco is Rebecca Caden founded by starbucks. And her investments include everlane. And also from the bay area. Patrick chung, where he focuses on consumer investing and seed investing, also the cofounder and partner of the Experiment Fund with early stage investments in consumer tech. Im wondering how you distribute it. Were starting on the internet. From there well be looking for distribution, other markets and perhaps retail. Inevitably when you go to markets, even with patents, you attract competitors. How do you think about creating the right brand . We want to be the first case out there. We hope that will give you an competitive advantage. What is going to stop apple from, for example, doing exactly the same thing . I think that apple is in the business of information sharing. Theyre not in the business of making you look good. If they