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tv   Power Lunch  CNBC  August 12, 2014 1:00pm-2:01pm EDT

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hello, everybody. we will take it. we start this hour with an exhaustive review of tesla. it comes from "consumer reports" one day after it hit an all-time high. down, but just a little bit. the review of tesla is pretty good, but there are some red flags. in the last six months, the stock is -- in three years more than 800%. sue is at the nyse, but first to phil in chicago, who's standing by with jake fisher, director of automotive testing at "consumer reports." >> jake, let's bring you in and get straight to this review. a lot of people are talking about at the present time overall you've owned the model s, you and others have driven it. what was your general take on the? >> overall, it drives, performs very well. it's fast, fuel efficient, in
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terms of the way it performs, it's been very impressive emplgts but problems in terms of quirky issues that would pop up, correct? >> that's absolutely true. this car we've owned for over a year, put over 15,000 miles on the car and we've stuck with it. this car, you know, has had more of its fair share of problems. we've seen all different types of issues, probably the most serious is that really large screen that the in the car, like the giant ipad, it went blank on us completely. they had to basically give it a hard reboot. >> so you make it very clear to your rerue, tesla honored the warranty, very quick with the service, but like the door handle not coming out. how frustrating with these problems? are they enough to make somebody think twice about buying a model s, or is it more in line with i'm not crazy about it, but it's not going to stop me from buying the vehicle?
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>> that's a very good question. when you look at the tesla model s, they've been innovative, so, for instance, the door handle issue, they fixed it over the air. the car didn't have to go to a dealership. they could hook into it right over the air through wifi network. then when you look at what they did with the larger problems we had, they came out, picked up the car, they will drop off a loaner for you, so it's not like you're bringing the car to the dealership. they're trying to do things innovatively, but the truth is, this is a new car, a new car company and there are some issues going on with it. you know, the indications are the owners of the car of city ecstatic about the car. >> tyler? >> i was just going to ask. i drove the car, and i loved it, around our campus. that screen is truly amazing. bigger than the original iteration of the ipad. when you need to get service,
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where do you take a tesla they're not picking it up for you? who repairs them? >> they come and pick them up. you are bringing them anywhere. in each of the cases, someone shows up on a flatbed and drops off a loaner car. to fix some of the issues that you address? some of these shies, we actually -- we have an automotive survey, and that showed up even last year, so it's obviously they know about?
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surtrying to find a dealership. they will come up, pick up the car for you. as long as they're honoring that, that's really not a bad deal. >> tyler and sue, i reached out to tesla. we asked them, my producer asked them, what's your comment about what "consumer reports" has to say. tesla considers service a top priority. we air on the side of being proactive to ensure the best driving experience possible. that mean we are particularly attentive, even if those -- or have a low likelihood of causing any future problems. >> my question for, jake, a few
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years ago, mercedes-benz had a real problem with a lot of technology being built in, but not always working. they were called ticky tack problems, not enough to hurt sales, but it really hurt the reputation at that time. is tesla in danger of having that same problem? >> yeah, absolutely. whether or not it's a small problem or big problem, it's an inconvenience, and you want to buy these cars these days, you almost expect it to be problem-free, and there's many cars you can buy that are like that. it will be interesting. right now it's something innovative, and something very exciting, but as type -- are going to plan to the satisfaction. >> very quickly, in some sense, are cars getting too smart for their own good? yes or no. >> maybe. maybe. >> they're too smart for me. >> all right.
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>> it's very true, it makes it hard driving these cars sometimes. that's right. >> folks, thank you very much. we asked the viewers whether they would consider buying a tesla. let's lock in the vote. a, 49% say yes, they are beautiful cars, let me tell you, and fast. yes, in a few years say 12%, and 21% say no, too expensive. 18% say no, they're concerned about reliability issues. tesla shares taking a bit of a stall today, still sitting near all-time highs. you'd love that in your portfolio, dominic chu. >> absolutely. as of late, $265, that was the record high price of tesla shares back on february 26th, then that slide back down to $195 bounce right off the 200-day moving average. so what is the outlook for tesla
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stock? it's already trading above where analysts have targeted to trade $257.50, that's where it is right now versus a target of $241 a share. that's probably why you can see there half of analysts have a hold or sell rating on tesla, but to be fair, the other half still has a buy rating to be. >> the price to earnings ratio. definitely better than gm, which has lost 17%, sue, in just 2014 alone. back over to you. >> ayeyikes, dom. rick santelli is at the cme. what does it look like? >> we gave this auction a
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c-minus. it's $27 billion three-year notes. the yield at auction 0.924. the one was offered at 92.5. here's where it lost its good grade. the bid to cover was just over three times over subscribe to. well over the ten auction average. the continue directs and directs were very close to the auction averages, but at a one-year low, since june of last year since it was that low, a c-minus to start out. tomorrow we go to the long ends, and we'll get more clues about the markets. tyler, sue, back to you. >> thank you, ricky. see you again in just a bit. realtors sending out today on the housing picture. hi, diana. hi, sue, prices too high too fast. we've been warning and now seeing the results. home sales are down and prices are finally taking a hit. the realtor are in request the
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q2 numbers. down 4.5% from a years ago inventories jumped up 6.5%, all of that is weighing on home prices. the realtors record that the median price rose to $212,400. that's up 4.4% annually, but that is just half of the 8.3% jump we saw in qd 1. 19 markets in q2 saw -- and around 43 last year. make no mistake, there are still pockets of bubble-like price gains due to really low inventories. and much of florida sees price jumps as investors are still strong there. investors overall are dropping out of the market, distressed sales made up just 12% in q2. interesting, though, when i treated the price numbers this morning, dc area realtor mike
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aubrey tweeted back -- it's just the tip of the iceberg. he said the spring season this year was barely a four-week blip. if you want to hear more, it's online. back to you. diana, thank you very much. big news in the casino world. rebel casino hotel says it would shut down in september after failing to find a buyer in bankruptcy court. morgan brennan is here with the fallout. this hotel debuted to massive fanfare. >> it did, including on this network. >> two years ago? >> two years ago, second bankruptcy in two years, now close down. this goes back to a conversation we were just having yesterday about casino saturation, so let me give you some details on rebel. rebel revel casino says it will close after no qualified bidder emerged to buy the property. when it opened its doors two years ago, the megaresort had
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been expected to help usher in a new era for struggling atlantic city. instead, the casino is now in bankruptcy, but here as the bigger issue. revel is now the fourth casino to shut down this year. the atlantic club closed in january, trump plaza is closing next month and caesar's showboat will go dark. that means atlantic city will come into the fall with 25% less casinos. a lot of this is thanks to falling gaming revenues. as statesnearby states are now competitors with casinos of their own. what's more, between revel, showboat and trump plaza, more than 6,200 workers are losing their jobs. a.c. already struggles with high unemployment. that's versus the state's 6.6%
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rate. so these closings will only add to that. the latest setback comes after moody's downgraded the muni bonds to junk status, and after caesars z -- just last night, as for revel, a.c.'s mayor, who has been trying to turn the city around, is looking to do that, says this might be revel's last chapter, but not the last one for the building. my administration remains committed to the workers, the business.and visitors who are impacted by today's news. we'll have to see whether he can move atlantaic city beyond gaming. >> that's a huge, huge property there on the boardwalk, so the list of buyers is very short, i would think, and no bidders at the auction that qualified. unfortunately we don't know the details about who came forward to bid, if anyone, obviously none of them were qualified to take on this property. last month the mayor -- i mean,
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it's going dark. a lot can happen in this bankruptcy proegsz moving forward. thanks very much. sue, down to you. >> thank, we're going to talk to bob pisani who's on the floor. we're looking at some of the big casino stocks. remember, that was a few years ago. i just want to show you what's going on with the casinos caesars -- las vegas isn't that hot. the company has a lot of debt, some individual problems, but las vegas sands and wynn, casinos separately very big in macau, and the growth has slowed there as well. this boyd gaming is up, you know why? because they own the borgata, atlantic city's other biggest casino. so that stock is trading up
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today. there's what's been going on recently, just this month. mgm down. the other group i want to talk about is energy stocks, as brent crude exploration production stocks have had a tough time by the way, schlumberger came out with a comment earlier saying the crisis in the ukraine would cost about three cents a share. you can see that stock also trading to the down side. sue, tyler, back to you. >> bob, thank you very much. let's go uptown to the nasdaq. seema? >> we've seen this market withstand geopolitical uncertainty, but today headlines specifically around the
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situation in ukraine weighing on stocks. just goes to show it is hard to decouple the markets from events around the world. stocks weighing on the nasdaq 100 today, including f5, applied materials, which does report earnings on thursday, western digital and facebook shares, plus tesla, up about 9%. tyler and sue? >> thank you very much, seema. a favorite of cowboys and rock stars for decades, but it looks like denim, denim is now suffering, just after i stocked my closets with it. major blues for denim, what it means for retailers. plus trying to grow in a slow growth world. dominic chu not in his denim today. >> no. >> in his beautiful soft plaid. >> nice suit you've got on there. what companies could be ripe for consolidatation? jim cramer has been talkic about it for a while.
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we'll see what companies could be potentially candidates for a possible -- >> you can't grow growth, you buy. >> just like you buy denim. >> we'll be back. ♪ time and sales data. split-second stats. ♪ its so close to the options floor, you'll bust your brain-box. all on thinkorswim, from td ameritrade.
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on "mad money", jim cramer said there's just one way for companies to expand in this environment. >> takeovers need to happen,
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they can spur the growth that is required to really ignite this stock market. so we thought we would look at some of the other sectors and companies that can be looking for growth through m & a. early this year disney bot a youtube channel for nearly a billion, and of course there's yahoo into blogging with its 1.1 billion purchase of tumblr. which other media companieses
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could be looking through growth this one potential pair of course is apple and netflix. netflix is huge, no doubt, but apple has a lot of cash. it's one of those dream scenarios possibly for a lot of media pundits out there. how about vice media, drawing interest from time warner. that's an interesting within. and then back to the youtube side of things, at&t is reportedly in talks to buy full screen which generation about 3.5 billion with a "b" monthly views. kinder morgan, if you remember, and at $70 billion. by acquiring other companies, which cramer floated as a possibility. the big question on the table is will that slow growth environment lead to more of these potential deals. these are some of the possible scenarios out there. but you've got to wonder whether
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growth is going to happen by. >> kinder has such scale now that an acquisition would certainly seem to be. >> and common currency in their shares. >> dom chu, thank you very much. to julia boorstin for a market flash. >> tyler, trader -- the company announcing promoted video ads in a blog, a huge potential money maker, with the demand for video ads, twitter noting it will only charge tiesers when users start playing a video. so marketers will make ads that are more compelling. twitter sharing currently trading more than 2% higher. sue, over to you. >> julia, thank you very much. more on the surge with m & a with the portfolio manager at advisers asset management, and jeff sout is with us, he's from raymond james. the m & a activity, basically it
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seems it comes down to if you can't grow organically you buy what you need. is it that simple, really? >> yeah, i think it is. i think it's cheaper to buy assets than it is to grow your own. i think it also puts footings underneath the market, because evidently some companies think some other companies are certainly cheap. >> we have court of appealss sitting on a bodelot of cash. interest rates are basically so low, why wouldn't you do acquisitions? >> true. well, it is a fertile environment and has been a fertile environment for some time. i think it will only continue. certainly there are some failed deals at least so far in the health care space of late but who knows. it certainly i think gives some underlying footing for the market and certainly underscores
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the fact there are some attractive valuations. >> talk about valuations, because that's the big debate with people that we have on "power lunch." it seems to glo down to a divide. some people feel like valuations are stretched, and other people feel that we're still undervalued, if you look at the broad market. where do you constituent? sit? >> i think where you stand is a function of where you sit. if you're using the case-shiller adjusted p.e., things like pretty expensive. i have made the argument because of aberrations we have on earnings, that that is not the proper metric to use in valuing these markets. we're trading at about 16 times this year's earnings, if they're anywhere near the market, and about 14 times next year's earnings. not as cheap as we were, but certainly not expensive. with europe looking like they're slowing down again, it looks to me like the u.s. is a pretty good attractor of capital. >> gene, you get the final word
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on valuations. >> i think this market's resiliency is an indication that the market is not overvalued. there are bargain hunters seeking to come in on any dip. even though the valuation is a bit high, the carrot is that earnings are growing. >> ty, up to you. sue, you know, just a few moments ago on halftime, you probably saw this. scott wapner taking the ice bucket challenge to raise money to fight a.l.s. watch. >> 3, 2, 1 -- whoo! >> you know what? >> i hope that was all right. it wasn't as bad as i expected. >> my friend scott is a brave, brave man. he is now in the newsroom, a little drier with a big update. >> you know, ty, the spirit of
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this movement, which it really has become a movement, is to do it yourself and then call somebody else out or pass it on to others. so i called out, knowing this has become a social media, dib costolo, and mark zuckerberg, and it took five minutes for costolo to accept the challenge. there it is. he says dick costolo has already accepted our challenge. i hope zuck does as well. this has become a social media spur the something that we think
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about, unfortunately more often than we'd like to. >> it's a wonderful cause, and i think all reporters should engage in it and have their producer deliver ice over their heads. how does that -- >> that sounds good. i'm out. i'm done. i still have to change my shirt. >> and meg tirrell did it. >> and that's how it all started. meg was up at biogen in massachusetts. they did it with the entire als team. kudos to meg as well. she deserves a lot of credit for doing it herself and the good folks add biogen for doing it. >> i hope cnbc wardrobe has sent her a change up there. >> they delivered me a dry golf shirt.
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>> mr. zuckerberg we're waiting, we're available. we've all got facebook pages, would love to hear from you. >> we'll see what he responds, if anything. >> fantastic. thank you very much. orange juice prices spiking this week. what's behind the big move? i know you've been wondering this. it has been an icon -- i have a closet full. are we see the death of denim? i'm probably the indicator. >> fashion is fickle, but this trend towards so-called at leisure is only gaining steam. some experts say it would be here to say. we'll tell you what the experts say and who might be most exposed, coming up on "power lunch." ohn's disease is tough, but i've 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 crohn's was not under control.
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he said humira is for adults like me who have tried other medications but still experience the symptoms of moderate to severe crohn's 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. serious, sometimes fatal infections and cancers, including lymphoma, have happened; as have blood, liver, and nervous system problems, serious allergic reactions, and new or worsening heart failure. before treatment, get tested for tb. tell your doctor if you've been to areas where certain fungal infections are common, and if you've had tb, hepatitis b, are prone to infections, or have flu-like symptoms or sores. don't start humira if you have an infection. if you're still just managing your symptoms, ask your gastroenterologist about humira. with humira, remission is possible.
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so ally bank really has no hidden fethat's right. accounts? it's just that i'm worried about you know "hidden things..." ok, why's that? no hidden fees, from the bank where no branches equals great rates. hi, jackie. >> good afternoon, sue. 1311 is where we look like we're going to settle out here.
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except a gee on political catalyst. down in the pits. basically because there haven't been any supply disruptions. i want to talk about brent crude close to 103, the spread between them coming in closer and closer. steven shork from the shork report saying we need to watch the key level of. if we break through that, we could be going lower. so putting those gee on political headlines aside, this is a supply and demand equation and we've got more than we needed.
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let's check back in on the bond market and interest rates and currencies, of course, rick santelli tracking the action. back to you, ricky. >> thanks, sue. this is the old three. you can see that we're virtually unchanged. you have to remember, look at the scale on the right-hand side. virtually sun changed. a nice rally, open the chart up. it's close to 11 months, on september 10th, since the dollar index has been this high, don't get too excited. it probably keeps going up, but it doesn't matter, the breakout continues. tyler, sue, back to you. >> rick, thank you very much. to mr. chu, market flash. tyler, a reversal of forting for kate spade, but it soon fell when the company warned gross margin would fall as it faces increased competition.
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ouch, off by about 23%. its rival michael kors tag in sympat sympathy. to talk about those margin pressures when it released its earnings earlier this month. coach is falling as well. here's how all three have fareed year to date. you can see a pretty decent move to the down side. tyler, back over to you. jeans have been a little for well over 100 years, are we now witnessing the death of denim? just after i have stocked my closet. i have an etf worth of denim in my close the. >> it we might be the only ones. >> a leading indicator of the end. >> well, back to school is supposed to be the holiday season for denim sales, but retailers are not expecting blockbuster results. teen preferences are telling the story.
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pip piper jaffray's, over the last two years they've moved after from denim gates and tore, lululemon and victoria's secret. and while many consumers are dressing down, sporting yoga wear beyond the gym, they're tired of the same old jeans as the go-to option. it's showing up in the major denim player results. particularly at the high end. lee, wrangler, and rocking republic. it has seen revenues fall 3%, vf corp acknowledges the trend, working to incorporate
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stretch-type inoy investigations. they say it's the key driver for the back half of the year. sew jeans are starting to look more like yoga pants, perhaps, because that's -- >> a little stretch in there never hurts, you know. >> thank you very much. that are following you may not be following a human. the fallout for the giant. plus robots for room service. one of the world's top hotel brands is making a bold move. it is a cnbc exclusive you have to see to believe. ♪ [ radio chatter ] ♪
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now we're to the down side, so how concerned should u.s. investors be over the slowdown in europe?
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kenny, we had a lot of bad news, and the market proved pretty volatile. >> but stabilized. >> you want here, but it stabilized around 1910-ish, didn't it? and in fact we've rallied off that a bit. i think the problem now is it's more than geopolitical stuff, but that's not proven toss a catalyst quite honestly i'm not so sure the slowdown will really derail what's happening here in the united states. i don't think it's going to get to the point where it's critical, right? almost like it feels here, it's slow here. >> thanks, kenny. good you have to you back. >> good to see back.
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>> we have a lot more coming up here. a new way to deliver at one of the world's total hotel brands. josh lipton is in live in cupertino, california. josh? >> there's a new way to deliver food. robots are catching on fast, but i'm going to put them to the test. trust me, i can be very demanding, as you well know, tyler. >> josh, we want to hear from you. what do you think of a hotel robot delivery system. you can vote, as you often do. "power lunch" will return and we'll see what you think of robots, after this. i make a lot of purchases for my business. and i get a lot in return with ink plus from chase. like 50,000 bonus points when i spent $5,000 in the first 3 months after i opened my account.
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does he have to pay you back? dad: nope. kid: why not? dad: it doesn't work that way. kid: why not? vo: are you asking enough questions about the way your wealth is managed? wealth management at charles schwab dovisit tripadvisor new york. with millions of reviews, tripadvisor makes any destination better.
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that stock is currently down, just off session lows by about 4.5%. sue, back over to you. dean foods upgraded to outperform from newt rumsfeld at credit suisse. that firm also increasing the price target to $18 from $15. amor chrome by and fitch at stifel nicolaus, that firm citing a favorable change in the tiesing mix. and choice hotels upgraded to mark performy underperform at wells fargo. right now the shares are up a bit. the next time you need something you i may here a beep beep beep, the robots are coming. before josh lipton tells us about it, we want to hear from you. what would you think if a robot delivered your room service or some amenity that you might
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need? go to now to joint the conversation. josh is in cupertino. >> well, tyler he's billed as sort of a combination of rosie the robot, wall-e and even r2-d2. he's the first butler, and the goal here is to free up hotel staff while ollo delivers amenities to guests. i got a firsthand look at how it all works. >> good morning, front desk, this is luisa speaking. >> i have a bit of an urge here. can i get a milky way and while you're after it, how about a toothbrush? >> we'll send it right up. thank you so much.
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[ beeping ] >> oh, hey, what do you got for me? nice, my milky way and my toothbrush. thank so much. now, maybe the best part of ollo, he only accepts tweets as tips. once the pilot program is green lighted, he will be working 24/7 starwood tells me the goal is to put these robots in about 100 properties around the world. >> how did he -- how did you know -- what is his name there?
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>> ollo. >> how did you know he was there? >> once he makes his way to the elevator, down the hallway. when he gets to your room, he knows to very quietly and politely give you a call. >> he calls you on the phone? he calls you? >> that's right. >> i don't know why i cal him a he. >> listen, tyler, he is a butler, so i think you're okay. >> a bot-ler. okay. 74% of you say it's great. 26% still prefer that human interaction. the brooklyn wants to host the 2016 democratic national convention. donald trump is making news in india. the ice bucket challenge for mr. trump. there you go. all of that when "power lunch" returns. ricity
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and i just figured that it's time i do something about it. what we're doing right now, along with ibm, is to actually transfer data through a satellite from our wind farms directly onto the cloud. i think we could create a far more efficient system across the whole network where we could actually draw down different kinds of energy based on when it's needed by the consumer. a smarter energy system is made with the ibm cloud. the ibm cloud is the cloud for business.
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power rundown time. jon fortt, seema mody are the victims today. first topic, fitch says samsung and apple are in trouble, and that not even new phones and wearable tech can help the
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companies, as rising competition enters emerging markets. jon fortt, did they overstate it? >> totally. they're wrong. the reason why is like arguing that a steakhouse is in trouble because of rising hamburger sales at fast-food restaurants. apple just isn't playing in that lower-end emerging markets space where these other companies are gaining share. for samsung, on the other hand they have to decide to be price competitive and lose plrgeen or try to reteeth to the high end. what do you think? >> i disagree, from the friends of mine who live in emerging markets there's a lot of local providers that offer morephones that are relatively competitive with what apple and samsung offer. apple just releasing a report, 70% of its employees are male, 30% female, a memo by tim cook say he's not satisfied with these numbers.
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seema, was -- forgive me for not knowing this. there you see a further breakdown, 55% caucasian, 11% his staining, 7% black, 2 are more than one ethnicity. had it been a point of concern in the marketplace or in the blogosphere about apple? >> i think in general this highlights the broader issue around the lack of diversity in tech corporations. i think what makes this so interesting is the fact that apple is a leader in the tech world, and this is really an issue, they have more than enough money on their books to promote gender and ethnic diversity. >> jon? >> actually apple has done a better job at this than any oy silicon valley company whose numbers i have seen. the gender numbers are send skewed. but in terms of ethnic diversity, apple doing really well, remember, more than half of their employees are in retail, even in tech, their numbers of blacks and his
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spannics that they have managed to bring in and recruit are by proportion dwight as high as some competitors, so very interesting that tim cook is the first silicon valley ceo on come out and make a business case for diversity. will this put pressure on torte to divulge their, you know, personnel makeup? >> they're divulging them, but it's a really tough problem. there's a pipe did not line issue that we talk about. they just don't have the number of engineering students coming out. the ones with different ethnic backgrounds are highly sought off. if they really want to affect change, if they think there's a business case, they're going to have to build that pipeline and make the case to their employees and their investors that it's worst it. >> barkley center in brooklyn hosting the convention committee, including a tour and lunch, all part of new york city's bid to hold the convention in 2016.
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brooklyn is hot. >> brooklyn has become a popular and i think the addition of bar clay's stadium has created this cool, hip vibe when it comes to brooklyn. >> jon? >> it's absolutely cool enough. the key is they want to make a dedicated lane to get from midtown out to brooklyn. they think they can make the trek in 15 minutes or less the that speed will be key to have it there rather than madison square garden, but hey, brooklyn is cool, that's the place to go. hopefully they figure it out. >> but you've got to go on the subway, man, you have to tail the d train. i used to ride it every day when i lived in park slope. i guess philadelphia may be a competitor, there's probably others who would love to have the democrats visit. twitter announced last month that many of its users weren't actually humans, they are bots? now we know that number is 23 million, nearly 9% of all its
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users. what to make of this? i'm not offended if i like what a bot has to say, that's okay. >> i think the real issue is social media firms are banking on strong user growth, so the fact that a select number of their audience are these bots and not real users might potentially be seen as a bit of a concern. >> bots in a way are real users. some are spending, but some are actually tweeting useful inform. even that hotel robot that josh lipton was showing off, accepting tips via twitter, so a different kind of bot perhaps connected to twitter. not all bad. finally, folks, donald trump eyeing expansion in a country you used to live in, india announcing the first and only trump tower, 75 stories, a curtain wall golden facade. is india ready for the donald? >> this isn't the first time he's shown interest in growing or expanding into india.
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he's not the only business leader also trying to enter this hot, emerging market. that mass a promising leader, promising change and higher growth. clearly there is a lot of interest from the business world to enter in market that has 1.3 billion people and a rising middle class. i will say, though, from having reported on the ground in india, real estate is a very tough market. a lot of corruption has been cited by developers that i've spoken to. so i think the concern is that will international corporations be able to effectively expand into this market. i think with modi in charge, the hope is they will be able to. >> thank you both for being with us for the rundown. sue? . let's see what's coming up on "street signs", guys. >> cramer will be jumping on the set with us, a very special treat. he'll say takeovers need to happen for companies for grow in the current environment. we're going to dig right you
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down and say which ones are ripe for it. also, herb is not at all nuanced on the stock and, and an update on small business from small business. we've got good things to say, too. it will end on a good notes. make sure you join us at the top of the hour. new car smell and the freedom of the open road? a card that gave you that "i'm 16 and just got my first car" feeling. presenting the buypower card from capital one. redeem earnings toward part or even all of a new chevrolet, buick, gmc or cadillac - with no limits. so every time you use it, you're not just shopping for goods. you're shopping for something great. learn more at
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let ate get you up to date on the market. the dow jones industrial average down about 18 points. we were down 25 points just a few minutes ago. s&p 500 is off almost four, that's less than a quarter of a percent. nasdaq on a percentage base, only off a third of a percent there, is faring the worst. down about 16 points on the trading session. and interest rates are ticking up just a bit. we're at 2.44%. three winners right now, newmont mines. so there are some big winners in the market today, but this may end up being the slowest day of the year, so there's not much volume on the market today, so that could exacerbate some of
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the moves. >> you took the words out of -- this for the first time in several days really feels to me like an august market day. >> yes. a summer day on the street. >> that will do it for this edition of "power lunch." thanks for watching. see you tomorrow. have a great afternoon. "street signs" begins right now. some people hate corporate buyouts, but can they actually be good? and the mad man jim cramer joins us for it. plus forget surveys. real small business owners are here to give their take on jobs and the economy. why another car review company coming out saying they cannot recommend a tesla, and we're going to celebrate the amazing life, of the great robin williams. >> we will, indeed. can you hear those crickets? it is


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