Pretty much across the board. Theyre doing particularly well, we should say, in spain, and finally, if you are buying wti crude by the barrel this morning, the price tag is going to cost you 46. 84 its 600 million for the right shoe, and 600 million for the left shoe. Have you ever bought these things how much do those cost, and my wife says 400 i say thats not bad per shoe i was going to say, that is a mass i sale at 400. This 1. 2 billion is really drars 600 million for one shoe and 600 million for the right one they are pretty cool. I mean, i dont theyre beautiful shoes. I dont want to think about them as a do you know about rent the runway no. Can you rent shoes . Thats a good idea. These things are so expensive, right, and then we have two german shepherds, which doesnt help, obviously. Are the dogs being walked in the no, you leave your shoes around i thought that 1. 2. Its a great name. It is. Very high. It can help michael kors. A lot of respect in my house. I have them in my bag you do . Are they jimmy choos . They have to be jimmy choos i dont own a pair. You . Not yet never say never exactly they dont make anything for us, do they . I dont think so. Maybe they do depends what you like they may all right. Japans soft bank has approached uber about taking a multibillion dollar steak in the company. According to the wall street journal the report say the talks were film, and any deal would likely need to wait for uber to hire a new ceo the uber report comes less than a day after soft bank teamed up to invest 2 billion into sing more Ride Sharing Company grab shares of softbank higher about. 75 on todays wall street agenda, the earnings reports are starting to come fast and furious. 3m, ka the pillary, eli lily, General Motors, mcdonalds, United Technologies are all out before the opening bell today. After the close, well hear from amgen, texas instruments, chipolte and u. S. Steel. Theres a pair of economic reports this morning the s p kay shiler home price index and july Consumer Confidence plus, the fed, of course, begins a twoday policy meeting the decision is due tomorrow at 2 00 eastern time. Theres earnings per share from continuing 7. Adjusted earnings per share is 1. 38. That is 9 cents above the estimate of 1. 29. Dupont Second Quarter sales 7. 4 billion. Thats above the 7. 292 billion that was expected. Still expecting a close. The merger with dow chemical by august the stock is basically not doing much on this news. I think this means something. Well see whether kayla thinks it means something john mccain returning to work today just in time for a Key Health Care vote kayla joins us now with more Huffington Post is shaking in its boots this morning saying that the indication mccain is coming back means that this might not be dead and mcconnell might have the votes the conventional wisdom, joe, would be that he wouldnt in the state that he is in right now after his diagnosis last week wouldnt be coming all the way back from arizona for a vote that would fail. It is worth noting that the statement his office gave yesterday, it gets more real estate to the defense and sanctions votes that he will be participating in as well it is true that his presence back in washington could end up being a galvanizing force for health care where several republicans are still at this stage noncommitmental. Senate leadership saying those concerns can be dealt with after the vote passes to proceed it means voting to proceed that will occur tomorrow so far senator Susan Collins is the only republican who is an outright no, but there are a half dozen more who are undecided saying they dont know what theyre voting for. While the finished product is unclear, the starting point will be the house bill from back in may. Then the senate will have 20 hours to debate and make their changes. A statement out yesterday from the Trump Administration saying its strongly encourages all senators to support it. This, an official word after the president used his bully pulpit to do so we as a party must fulfill that solemn promise to the voters of this country to repeal and replace. What theyve been saying for the last seven years but so far Senate Republicans have not done their job in ending the obama care nightmare. So far we still have a 12 45 lunch on the calendar for all Senate Republicans that happens nearly every day in the middle of the week when theyre in session President Trump four minutes ago, kayla thats on top of my twitter feed, and heres what he said. Eye cranian efforts to sabotage the Trump Campaign quietly working to boost clinton where is the investigation, a. G. There we go again with throwing down some shade on our buddy Jeff Sessions. It is curious that he chooses to do this in a public way, joe. I would imagine that he knows how to reach the attorney general directly if he had concerns about something that he believed are they talking . Apparently he went to the white house yesterday. He was at the west wing yesterday. Sarah sanders confirmed that general sessions was at the white house. He did not meet with the president. They are looking at their office and seeing whether it would make a sense to make a change not him then after they pulled back after juliani said its not him. By the way, he said its not him, and if he were Jeff Sessions, he would he said that. That doesnt mean it wont then ted cruz. Ted cruz floatation is interesting to me because he has won a lot of supporters throughout this health care process in the senate. He has tried to put some formative ideas on the table to try and reach a compromise, and people are saying, maybe this is a new ted cruz maybe this is ted cruz 2. 0 or 3. 0, and this signals that he wants, again, to run potentially to challenge trump in 2020 this could be a move to try and sideline any future ambitions that senator cruz has, but at this point all of this is just speculation. You know, just thinking about it the unmasking there are so many things that theoretically if you had your own guy in, and i think thats maybe thats what trump is frustrated about at this point too. You know, where is sessions on this he recused himself from russia it doesnt mean he cant look at those things certainly he feels that the fact that he tapped sessions for this job means that he believes he would receive some loyalty in return or some prioritization as of what the president feels should be at the top of the list for the department of justice to be investigating on the flip side, critics have said that sessions in his press Conference Last Week instead of saying that he is committed to the job, he should have come out and given a fullthroated defense to the work of the department of justice and the independence of the department and the work that it does saying that it is free from politicization and partisanship. Some others on the other side say because he didnt do that, he is bowing more to the president than others would like it is a unique situation, to say the least. Certainly the president feels that he has been slighted, as weve seen evidence again by this mornings tweet im down to where i follow three people, and i have three people following me, because i have blocked everybody else wrrng. Limiting the utility of twitter. Whats the point i dont know if there is a point. Okay. Show me what is the point to being on twitter close twitter, and dont use it for the next three hours. You know how much that tickles my fancy that those two heroes of the new age are they should really are they arguing . Thats great a little bit of argument dpood kayla, thank you. Its not about hair right . Shares of google parental fa bet under some pressure this morning. The tech giants results beat wall street expectations, but investors disappointed by key metric what the Firm Earnings in revenue per ad clicks. The company also saw its net profit decline by nearly 30 or as a result of that fine of nearly 3 billion from e. U. Regulators every bit of that re new comes at a lower margin than desk top search. Theres really no Better Business model than desk top search was youre not convinced that theres going to be a moment at which theyre going to figure out how to capture that same margin on a mobile device . Well, i think there are opportunities. If you look at the google pixel device they launched last year, that is an opened and operated piece of hardware where you were logged in google user, and they dont pay any traffic acquisition costs to the likes of apple and samsung i think you have Hardware Initiative that is are tied into better ad targeting as well as better Unit Economics. You have to scale that over the next couple of years i think sustained 20 3erz top line growth, 85 billion to scale, in terms of an advertising business, is something a lot of companies would envy i think at the end of the day the advertising ecosystem continues to surprise you in its strength, albeit at lower incremental margins. I thought you were going to tell me. What . Thats why i need to keep it. Can i just why what time is 6 14 . Why are we primetime for the president it is again, i mean, if you are following the sessions trump relationship, these are i needed to see it this is a modern day no, i mean this is a modern day reality show. Its very important the nasdaq is off the record close because of google. It matters to investors. Theres a Second Screen reality show going on right now out of washington this morning okay. Keep to twitter theres another reality show going on in europe, by the way, when it comes to alphabet and google, which is to say the e. U. How look at that fine and potentially future fines are we out of the woods . Zblie think we have two vepgs every investigations that are still ongoing. They try to explore why someone has a certain amount of market dominan dominance. It posted the last fine and decision we said that google would likely keep all options open. They said that on the Earnings Call last night to both appeal as well as to express some remedies to the e. C. Well have to see what that might change in terms of User Behavior or advertiser behavior. Thats a question mark, though, on the European Business lets be clear, right . 1 00 i think Going Forward regulation is Something Likely most of the large cap Internet Companies could face more of Going Forward than not when you look at their scale and their size however, whether it really changes the user economics or the Unit Economics and the business model, i still think its a low probability event at the end of the day do you buy google here . It seems like youre staying focused on the Revenue Growth overall as opposed to the individual metrics the forest through the trees instead of the treateds wheres we raised our price target overnight from 1,050 its very rare to see this combination of reasonable Free Cash Flow multiple on sustained 20 top line growth, especially when measured against a relatively low growth global gdp environment wrrks. Lets make it slightly more kplikd if you could buy google or alphabet in this case or buy facebook, what do you do we have a slight preference for alphabet over facebook because we think the computing utility elements of alphabet are very underestimated by investors. Facebook at its core is a Media Consumption property right alphabets mobile computing ecosystem is something you use every day. Okay. Final question were going to show it in just a little bit, but theres been a bit of a throwdown between elan musk and Mark Zuckerberg over a. I. My question is actually who is more advanced on the a. I. Front, Artificial Intelligence, between facebook and google . Alphabet is much further ahead on Artificial Intelligence and Machine Learning we believe on those topics alphabet is actually the Industry Leader by a wide margin today. The ceo of irobot wants to use rumba to sell information to Companies Like google and amazon he has his own views about a. I. Too wrrks mr. Roomba. Well tell you why after the break. Wheres jack . Hes on holiday. What do you need . I need the temperature for pipe five. Ask the new guy. The new guy . Jack trained him. Jacks guidance would be to maintain the temperature at negative 160 degrees celsius. That doesnt sound like jack. Actually, jack would say, hey mate, just cool it to minus 160 and were set. Good on ya. Oh yeah. Thats jack. Good on ya. We, the people, are tired of being surprised with extra monthly fees. We want hd. And every box and dvr. All included. Because we dont like surprises. Yeah. Like changing up the celebrity at the end to someone more handsome. And talented. Really. And british. Switch from cable to directv. Get an all included package for 25 a month. And for a limited time, get a 100 reward card. Call 1800directv. Yogigspeed internet. Me . You know whats not awesome . When only certain people can get it. Lets fix that. Lets give this guy gig really . And these kids. And these guys. Him. Ah. Oh hello that lady. These houses yes, yes and yes. And dont forget about them. Uh huh. Sure. Still yes you can get it too. Welcome to the party. Introducing gigspeed internet from xfinity. Finally, gig for your neighborhood too. Welcome back the company that makes roombas wants you to use the robotic vacuums to map your home and then sell the data to tech giants like google, apple, and amazon irobot ceo says that the data could help make the smart home smarter. The data could be used to improve dosound system acoustic to schedule air flow from air conditioners by room, and to adjust smart lighting by the position of windows. How does it know where windows are if its bumping boo walls . Is that worth 400 something . A. I when are you going to get to talk about your story with musk . 6 30. K on. I love that story hold the phone. K on. Hold the phone. People dont even say that anymore. Hold the phone no. Why would i hold the phone hold the phone at 6 30 were going to tell you about it a lot of things are becoming in the past. Where im currently living hold the line right, joe . Hold the line i know a lot of the old i dont like moving forward very much. Maybe you can tell no comment. Nasdaq set to come off its recordclosing high, and the fed begins its twoday policy meeting now. Lets talk to eric, multiasset chief Investment Officer 365 billion in assets under management chris russ, fund manager of needham small cap. Gentlemen, good morning to you both eric, ill start off with you. In terms of the nasdaq and the run that weve seen, obviously, record high yesterday. We have google posing a bit of a problem today. Are you concerned at all about the strength of the fang stocks as we enter the very heavy earnings week . Weve got facebook and amazon also on tap to report. Im concerned about the overall level of complace ecencn markets right now. Yesterday was the eighth straight day with vix closing below ten. Thats a rrd it looks like today will be the ninth. Weve had 270 days without a 5 correction in the s p 500. There is just a remarkable level of complacency right now as we go into kind of a challenging seasonal time in markets, though, at the asset class multiasset level, were not trying to take big directional bets on equities versus fixed income right now. That said, there are actually a lot of interesting opportunities to take advantage of divergences between markets where you can take advantage of valuation. Whatsoever divergences . In the United States we would rather be a Smaller Company stock. Thats something that chris is going to agree with than large cap stocks 18 times forward earnings. Not terribly overvalued, but you have to question where is earnings where are going to be the major drivers and large caps Going Forward, whereas in europe, parts of the emerging markets, you can get access to better marginal improvement in Economic Growth at better valuations. Chris, within small caps, whatsoever sectors are you looking at technological ini dont he vegas continues. You are just talking about the roomba what is the components that go into that, to collect that, the sensors, the storage . Whats behind all that irrespective of whats going on in d. C. Or what they approve or dont approve and when that occurs, technology continues to move forward were going to get a new iphone this fall at some point. You have component constraints whatsoever companies are you looking at some in ermz it of suppliers to the iphone that are in the small cap universe . He with like semicap equipment still, which is a part of the whole supply chain. Anything with a higher beta is going were not seeing a big market break, but we are seeing a rise in volatility Going Forward, and this environment in our global allocation or multiasset income funds, we would rather be capturing income now to be able to reinvest at higher Interest Rates. Were going to see peak qe rates that will be rising, we think, and at better valuations when you do see some volatility in emerging markets, were playing emerging market depth where you can take advantage of the dynamic, capture a higher yield, 5 , 6 . Are you investing in individual wonbonds or through the how are you allocated in you are on strategies were able to lessen the individual bonds we like high currency sovereigns we like some currency sovereigns we like shorter duration are you worried that the rus