Of edged up yesterday. Jamie dimon am i too early in that promote . Yes, you are permeant yesterday, you got me all confused. Im all over it theyre producing a lot, but theyre not but they dont have the pipelines. Lets get to the road map this morning. Well get to oil but for now, were going to talk markets. The dows win streak is at 10. You saw their futures are looking, at least for a lower open plus, Michael Koors and ralph lauren delivering some upbeat news you got that right, upbeat for the Retail Sector. Both of those Companies Beat the estimates of the analysts. Follow them. Koors up a lot cbs coming in better than expected but they lowered guidance, so the stock is down. Basketball, ad sales. Oh, i thought you meant cvs no. Oh, you have to say channel 2. All the time on the trading desk, you never use the term cbs. You say ive got 50,000 channel 2 to buy too many people bought cvs and that stock is down never use cbs for cbv. Okay. And Charlie Victor was not. It was down it not only posted a ninth Straight Record close, the s p 500, the important one finished monday with one of its own its now up in four of the last five sessions. And we have a very strong market on our hands yeah, we do a little bit at a time. And still that way for a long period of time yaed westerday was aerospacea and google has been strangely absent although of course it gets bold today because people dont like to see google down now its alphabet. They should change it back. Ill talk to ruth. It will will remain nothing, like everybody else i ask her about. But thats okay. Its business. One day to the next, i wouldnt assume your viewpoint has changed when it comes to the Broader Market no, with it hasnt. Those were the old days, david i do an intermediate term look at the market these days intermediate is how long . Six to nine months. So you are relatively positive yes, i am in the first year of a president , inaugural year, if youre upin the first six months, youre never down. Youre never down never down. Thats a stat for you. The Obama Presidency over the eight years, quite a bit he did come in right near the lows thats my friend ken fisher did that work. Im not going totake it myself i usually like to take it myself, but i like ken thats important because usually those stats are ee looes loosive. Is to so thats it, we dont have to worry for the next three years . No. The seven weeks now are the most lets say worrisome of the year as far as ive been in the business well, august and september are typically i listened yesterday, those statistics, theyre not good months is what i picked up. Exactly right theres a lot of mutual fund selling, you come back from europe tends to be weaker. That was the old days. But the dollar is different this year i dont want to go down that pooth. Too negative all right lets get to some specifics. You and i enjoy that yes, we do. Are you still going to script im going to stick with the script were going to talk about koors and ralph lauren you use tap and koors too many people have bought molson coors when they meant to buy kors sameso he will store sales were down 5. 5 thats all right. But at this point, anything like that is viewed as a positive ralph lauren is ahead in view of expectations despite a decline in comps, new management there look, gopro, okay what does that have to do with ralph lauren . Fit bit, ralph lauren where are you going im just trying to be dramatic michael kors, they were all supposed to be bad some stocks have gotten oversold here people have given up on companies. Ralph lauren shortened the supply time. Kors is merging with jimmy toecleavagechu you werent particularly happy about that but im saying the narrative is changing. After all this time weve been sitting here talking about the death of the mall and narrative these are all suppliers to the mall, okay and ralph lauren closed the stores and closed some of the jou jo outlets. These companies arent just sitting there getting their heads beat in. Theyre doing things what are you doing there . Its better when you do this to me. When the camera is off and youre talking to someone im on my phone trying to find things out typically. Oh, its research. Okay twoyear basis comps at kors improved sequentially, down 13. 3 from down 14. 4 . So this is where the market is yes, yes, it is. Okay. Okay it is but you believe its a turning point. Thats whey thought no, i am saying that the suppliers were driven down by amazon the kind of rubric of amazon and perhaps it did make sense. Some of these suppliers are doing great things on amazon pvh, look at that stock. That stock is red hot. Theyve tamed the channel. How have they done that what does that mean . They were very forward looking. They realized you cant just rely on macys maybe macys is oversold but you cant just rely on the Department Stores if youre a supplier pvh, look, no one is going to name their dog after pvh no, theyre not on kors again and the jimmy chu deal, they expect to be thats what i meant revenues in fiscal 19 numbers. New momentum at kors is what youre saying. I am saying new momentum. I am fought saying john is my idol i am saying you should start thinking about john idol the ceo. The chart the did tell you that, and i know youre a chartist you know i am a chartist. So what do we make of retail overall . Because i do feel as though the cloud is lifting. And bemoan the death of retail and the mall being in such a tough place then, of course, we look at Simon Property group, owner of all these malls, not too bad there are tenants continuing to pay high square rents. We have a kors or a lauren which has a decent number. Target had a decent number target is tougher youre not as i thought target was decent. No, im worried about food. If it has food, i am concerned costco, 6 , nobody cared target has food. So walmart, youve been all over positive on that. Walmart is being price competitive. They can afford to do so they have that Balance Sheet suppliers are doing better individual mall stores, childrens place doing fabulously because gymboree is failing. This morning, they say its time to buy foot locker because amazon is not eviscerating them. Thats the final it got crushed. Thats the final point. But you have to do some work during the break because i have time everyone has written off the nordstrom deal oh, yeah. Youve written it off, too . No. You know, the special committee is still waitinging. They got their special committee right away how special is it very special. Double special they got them together right away they have their advisers and theyre just sitting and waiting. Waiting for what the other shoe to drop in the Shoe Department . Theres like a million shoes in that Shoe Department i am watching from the Nordstrom Family who needs obviously some help, from pe to help fund that and its nowhere to be seen as of yet if i were in the Nordstrom Family, id be cashing out but whats really interesting is what you said about the mall operators. Property stock has been on fire. Because when a mall when a Department Store that has a long lease goes under, they reconfigure and they bring in a new guy. They pay more its only when you dont put up new stores lining tanger did concern me theyre not putting up new stores its hard to say its been on fire when its down this year. You just doused it. Its a slow burn hey, listen. The papers came out in favor of forest fires today in the science times. Yeah, makt, i did see that story. Mannequins fires are a very good short story yeah climate change, too, that doesnt seem particularly good just an obscure literary reference. No, im aware of that, actually its young men and fire. And they could not outrun the fire so what did they do they made a fire geez. Theres nothing i can stop doing other than shopping. You get me. You get me sometimes i can stop you with shopping. Planned, panama how about wyriki bakery the bakery doesnt exist yreka, basically, is a palindrome so i went to wyriki with my daughter palindrome is nonexistence still to come, intel is cleating its deal and calling it an acquisition to accelerate the future of autonomous driving which we have a lot of questions about. And were going to be able to ask a few of them of Brian Krzanich later this hour also ahead, Jp Morgan Chases chairman and ceo who has that interview is it you . Though. Is it me . No. Is it will terrorist . Yes. Ill jealous of everyone. Wilfred frost will have that exclusive interview. Another look at futures as we quickly head to another quick break. Were back on the other side with a lot more on media when this bell rings. It starts a chain reaction. Thats heard throughout the connected business world. At t Network Security helps protect business, from the largest Financial Markets to the smallest transactions, by sensing cyberattacks in near real time and automatically deploying countermeasures. Keeping the world of business connected and protected. Thats the power of and. For years, centurylink has been promising fast internet to small businesses. But for many businesses, its out of reach. Why promise something you cant deliver . Comcast business is different. We deliver superfast internet with speeds of 250 megabits per second across our entire network, to more companies, in more locations, than centurylink. We do business where you do business. Cbs, channel 2 here in the new york area, reporting better than expected Quarterly Results and sales were up led by the ncaa mens Basketball Championship cbs expanded its streaming services has 4 million now between cbsn and show time. Meantime, disney is going to release its Quarterly Results after the close today. And our good friend, bob iger is going to join cnbc at 4 00 eastern today. There he is. Interest i have to tell you, i was on that Conference Call. Les moonves, i call him more moonves. What a great quarter the mayweather versus mcgregor, price increases high single digits, 54 series, final four taking up 7 the thing that i really, really liked about this thing, this is a veiled netflix its got a netflix feel. 54 programs. I know they have transferred transformed to a certain extent the company from being the most reliant on advertising to so many other revenues. 60 40 nonads. And or air to the likes of a netflix and the other providers. Right this has become an enormous revenue source, of course, license and fees they get retrans, they get reverse comp theres so many different ways and now cbsn, 5. 99 a month, i think. I know. And you get showtime obviously. You mentioned this fight coming up, mcgregor, whatever i love showtime theyre going to offer that to nonshowtime subscribers over the top. One would expect that would help had them. Yes they didnt break it out. They have 4 million total between showtime streaming and the cbs and streaming network and they get to get it to eight over time. These over wreers. Yes but i think theyre ahead. Something youve been saying over and over again, which is ive been saying hey, listen, google, youtube, alphabet is going to come in and take sports programming. He dropped the bomb that i always forget. They have the ncaa mens finals until 2032, david. Right moonves thought about this issue with well in advance of everyone else. Ive got to tell you, im very impressed. Now, colbert has been very strong no m a, not going to buy cnn and it wasnt that long ago that there were at least they were being forced in a sense to consider possibly getting together with viacom moonves didnt really want to do it no. And Sherry Redstone backed away from having interest in it, as well. And, therefore, it didnt happen there was some research out last weaken curving it, given the scripts discovery deal what we know is this fastly changing landscape but one would assume, given how well cbs is doing, you can understand why they would make a decision and say, no yeah. They have something theyre buying and we believe we are obviously clearly more highly valued than viacom and were not willing to pay a premium but they have something theyre buying which is . Cbs stock david and i calculated 650 million shares five years ago. 410 now. And theyre buying this man puts his money where his mouth is thats true although the criticism of that and overall the media has been great Free Cash Flow againive businesses that are constantly reducing the flow and that is the only way they get the bottom line going up is a result of on a per share basis, jim, because the Growth Opportunities are not there. Do you remember how much stock i do. Brought back at such higher levels that didnt help anybody it depends on the franchise theres a great mrern, david, a Great American who bought that stock consistently and drove his stock up and it turned out to be his stock was undervalued. Do you know what that Great American was of course i do yes. Who jeffrey buchus. Yale graduate, i believe he would be the man disney after the bell, iger will be on, Julia Boorstin usually does that interview. We would love to have him back in the morning if he wants to join us. Yeah. But it was a couple of years ago, by the way, that espn thing started. That was two years ago they put up that release. Sometimes you have to speak softly and carry a big stick if they hadnt issued that release, i dont know that we would know about the decline it was a peak. They are going to bring the ocho, though he. Were going to have espn and the oshao at least for a short period of time are they dodge ball. Have you ever played trampoline dodge ball . No. But that sounds like a concussion waiting to happen you have to have real skill for that no kidding. Well see what disney reports and we will be all over it up next, well have jims mad dash as we count you down to the opening bell lets give another look at futures, as well it would seem for the lower open, that dow hasnt had that kind of streak isnt what is it , 1959, right . Eisenhower, great man. Were you even alive then . I guess you were important than your health. So if youre on medicare or will be soon, you may want more than parts a and b heres why. 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Remember, Medicare Supplement plans help cover some of what medicare doesnt pay. Youll be able to choose any doctor or hospital that accepts medicare patients. Whether youre on medicare now or turning 65 soon, its a good time to get your ducks in a row. Duck quack call to request your free decision guide now. Because the time to think about tomorrow is today. Time for a mad dash on this tuesday. We want to go back to the permian. Yeah. Pie your near, pxt, they reported a number, david, that shocked people i mean shocked people. It was at 169. It has not stopped falling i mean 163 it has gone down to 129. Today, Deutsche Bank gets out of the fallout shutter and says its significant hadly oversold. Steve fold puts his head up from the trench and says its significantly oversold david, if this stock turns, then the group can turn but right now, the group has had it i know. We talked about this yesterday and i haveto say afterwards i was trying to understand exactly what the argument for was for why its had it. Youve been speaking very positively about the permian for some time. Mainly because its the cheapest place to produce a lot of stories about how frankly theres that theres not as much oil because the shale that is true, but thats ridiculous. The problem is distribution. You cant get it to where it has to go because even though in texas theres a lot of pipelines here, here, here, but not all of them go here where it would be exported and not all of them will go to natural gas markets in mexico where it could be used meaning what . Theres a lot of backlog here, maybe more than anybody else but theres not pipes. What do you do you cant take the nat gas out of the ground without a pipe david, they are using trucks do you know how much that raises the price . Trucks theyre using anything they can, but they dont have pipes to where the refineries are so oklahoma right here, the panl panhandle in this is louisiana this is where my daughter lived. This is grand aisle where they did true detective you have so many talents. Yeah. Theres a tarpon Fishing Contest right there. Nice. Big prize so unclear whether we get the turn that youre talking about no. Today you have to watch. If they bounce, then everyone tomorrow comes out and says its time to buy eog. They had the best quarter. It was tainted by pioneer. So watch eog thats the tell. Lock pioneer they had a great quarter theres no reason for that stock to go down eog sfwlrchl eog all right eog. Did you like my california is here. I love your map i may frame one of them. The opening bell is just a few minutes away by the way, brian is gngoi to join us. Well have that after the bell hey gary, what are you doing . Oh hey john, im connecting our brains so we can share our amazing trading knowledge. Thats a great idea, but why dont