let's bring in scott wapner at hq who has a big show coming up. >> thanks. we're going to talk to bill ackman exclusively today it will be the first time we hear from the activist investor regarding his campaign at adp. we're obviously interested to hear from him, what he thinks he can do for the company, which has pretty much told him to talk to the hand. they have given him the heisman thus far in what he's trying to do he wants three seats on the board, including one for himself. it's gotten contentious already. carlos rodriguez, the ceo, has been on the network a couple of times. we have yet to hear from mr. ackman all of that, carl, will change in about 20 minutes time when we sit down with bill who is in house today. so he'll be on the set with me and we'll kick it around, find out what he thinks he can do at adp and be successful in the proxy fight. >> interesting seems to be really ramping up in terms of social media, in terms of what he can do on adp, launched a twitter handle adp rising, a video, interesting to see how he's playing it from all side

scott wapner and the traders are back in two minutes. she only had me by one grade. we bought our first home together in 2010. his family had used another insurance product but i was like well i've had usaa for a while, why don't we call and check the rates? it was an instant savings and i should've changed a long time ago. there's no point in looking elsewhere really. we're the tenneys and we're usaa members for life. usaa. get your insurance quote today. back in two minutes. >>> on friday, november soth, "the halftime report" is the hop oregon american veterans with a live show aboard the historic "uss intrepid. we want you to be part of the experience join scott wapner and the halftime traders for live trades and market anal simpts that's friday, november 10th. >> how cool is that. that looks so cool. >> hopefully we get that. >> hopefully we get a beautiful fall day i can't wait for that. legendary investorsare sharing their top picks for where to find fall in the market. did so at yesterday's seventh delivering alpha conference. leslie picker, you were there all

i'm scott wapner our top story, small caps and big gains. why the russell 2000 has outperformed its bigger brethren this month and whether its comeback is a sign of a more broadening and stronger rally. let's begin with the small-cap stocks the russell is up 6%, after lagging the dow and nasdaq you know what, steve, small caps lead on the way up and lead on the way down this has to be a great sign if you're bullish the market. >> i think it is a very good sign and if you look over 20 years, 30 years, 40 years, that actually happens they are playing catchup and that's a good thing. when investors, particularly index investors, are where they can still get some value and, of course, it's small caps. not only that, if you get these plans, and there's no expectation of market now, maybe some start to creeps in on tax, if you get infrastructure and tax in the u.s. the small caps will benefit tremendously for a lot of domestic issues trump is focused on i think they will do quite well. >> it helps keep the haters at bay. one of the arguments you c

i'm scott wapner semi surge chip stocks on fire. why the sector's breakout could keep the nasdaq's rally going. also joining us on set is jim cramer, the host of "mad money." the dow is coming off its best week of the year but it is the nasdaq that continues to be the outperformer index up 20%, showing no signs of slowing down. jim, these chip moves today, you called them breath taking. >> they really are, because what's happened is there's a recognition that perhaps there is a cycle dynamic that had been hung up. there are a couple of stocks that really did matter micron, lamb research, companies we thought they were going to peak and i was asked what do i have to do that we shouldn't be at 13 times earnings and how do i explain to people that the cycles should be longer and the reason why that's not the case is the data center i've had everyone from the real estate data trust investment centers to the people talking behind the sales at the sales forces, and the work days. i mean, the data center is real. the cloud adoption is real

i'm scott wapner where we are following a number of developing stories this hour. the sudden drop in disney shares plus two key calls on two widely held and closely followed stocks, amazon and general electric let's get the latest on hurricane irma as she bears down on florida let's go to kaylee dionne who's with us today. kaylee >> the latest update as of noon today. we have 175 mile per hour winds west northwest at 16 miles per hour for hurricane irma, category 5 storm still let's move on to another update for those of you in florida. added to the hurricane watch what this means is hurricane conditions could move into your area within the next 48 hours. a lot of you are preparing right now. if you haven't started, this is the time to do so. again, as of noon we are adding to the hurricane watch there has been some updates to the track. not much slightly off to the east but still the cone of uncertainty through the entire state of florida. i don't want you to focus on track. i want to show you why because if you're anywhere in florida, you're saying, oh, you know,

i'm scott wapner our top trade this hour is a big call on how far the s&p 500 could fall over the next 30 days a decline that would surely rattle investors but first, the storm that is rattling residents of florida. irma heading for what looks like a direct

i'm scott wapner our top trade this hour, the remarkably resilient most positively prolonged rally for stocks ever. how long the good times can really last. with us joe terranova, josh brown, john and pete najarian, carrie firestone is here also. we begin with the markets where stocks are winding down, a september to remember. the major averages have bucked history thus far and haven't had much volatility at all despite plenty of reasons to be volatile wondering what all of that says about where the rally goes from here pete, it's the least volatile september ever you guys are going to dive into that in a bit over at the telestrator to show us exactly how. but man, the stocks have been steady. >> yeah. and i think part of the story, scott, is just the fact that you mentioned steady we talked about rotation those all feed into this i heard bob pisani talking about lack of volumes. but it's not a lack of volumes in the derivatives world or options world where we are consistently trading close to just under 17 million contracts a day. this used to be a number in 2011 that was closer to 14

i'm scott wapner our top trade this hour, target 2,700. why one of wall street's top strategists say the market will hit that level this year with us, jon najarian, stephanie link and aaron brown with us as well and mike wilson here, investment analyst and chief executive officer. the russell 2000 is bucking the trend all the way on the right-hand side. mike, good to see you. welcome back. >> thanks. >> what do you make of the russell and what it says about where we are in this some rally? >> other than torturing people it's been a wild ride this year with the russell fortunately a couple weeks ago we doubled down on our small-cap call making the claim that we thought the tax had been priced out of the market which is really probably the most important thing that's driven the russell. i think you really have to go back to november and instead of looking at the year-to-date performance, you have to look at the russell prior to the election and if you look at it that way it's performed in line with the s&p 500 so we look at the last four mon

i'm scott wapner our top trade this hour, your september playbook with a notoriously rough month for stocks, will it hold true to form or surprise investors with another leg to this rally? with us for the hour today, joe terranova, stephanie link, jim lebenthal, josh brown. we do begin today with what else but the markets. stocks under pressure this hour. america heading back to work, back to school, and back to trying to figure out how long nighty bull market is going to last so joe, we come into september on friday. it is the worst month, traditionally, for stocks. dow is usually down more than 1% on average does that hold true to form this time >> listen, i don't know if history is your guide on this. i think the relevance of what's going to happen here in september is really about the tremendous amount of obstacles that the market faces right now. and what do you do with that do you allocate new money? do you expect a correction to be coming right now i think the best strategy, when you look, is to be defensive if hedge things out, if you have the ability to use options or the ab

i'm scott wapner our top trade this hour, your september playbook with a notoriously rough month for stocks, will it hold true to form or surprise investors with another leg to this rally? with us for the hour today, joe terranova, stephanie link, jim lebenthal, josh brown. we do begin today with what else but the markets. stocks under pressure this hour. america heading back to work, back to school, and back to trying to figure out how long nighty bull market is going to last so joe, we come into september on friday.

thank you to both of you and "the half" starts now at headquarters with scott wapner >>> all right, guys. thanks so much welcome to the "halftime report." i'm scott wapner our top trade this hour is a big call on how far the s&p 500 could fall over the next 30 days a decline that would surely rattle investors but first, the storm that is rattling residents of florida. irma heading for what looks like a direct hit on that state wmaq meteorologist in the house with us today. >> as of 12:00, category 4 hurricane, but still only a few miles away in terms of wind speeds from a category 5 still very strong and very dangerous storm. you can see it spinning here right off to the right the path it's going to take is west-northwest and go right in between the bahamas and cuba in very warm water. so i do not see this losing much intensity. i even think we could see it intensify a little bit more as we mover forward today and then it does look to make aim on south florida, as we go into really sunday early morning. so let's talk about the latest alerts that have just been issued the hurricane watche

i'm scott wapner we begin with a cnbc exclusive bill ackman live on his battle with adp, the activist investor here in studio to answer questions on his latest target, a target that has so far said no thank you. bill, welcome back good to see you. >> thanks very much. >> i think the question many people have is why adp a company whose stock has beaten the s&p 500 over the past five and ten years along with its chief competitor paychecks, a company with a 40% return on equity that's more than double the s&p. little debt on its balance sheet and pays out 60% of it earnings through difficult depds and has bought back stock on what people think are attractive prices. this does not sound like a company that need your help. >> it's a great company and a great business and the stock has done great for a long period of time the issue for shareholders is not how well the company has done over the past and how well it will do in the future bottom line is adp has underperformed relative to potential. you're judged relative to your potential, not relative to fat issus quo and this is a company wi

my colleague scott wapner said earlier today that 79% of the traders he talks to, people like you, think the market will go higher. but zero percent think stocks are cheap. >> i think that's a very fair statement. the question i'm asking myself is not will the stock market go higher, but why wouldn't it go higher. what would bring it down? when you think about all the bad news we've had, the storms, the missiles over japan, the talk of a nuclear war, for goodness sake, and nonetheless, there's a force pushing it up. and that's the strength of the economy, the strength of corporate earnings, and it just makes sense for prices to keep rising. >> now, october, which we're heading into, traditionally i mean, it gets a bad reputation, certainly, and for good reason, perhaps. but september also does not have a stellar reputation, and the market defied those odds. will it continue to do so in october? >> well, what's interesting is, october has obviously some bad days in there. september historically is the worst month for the market. what happens is the market actually rises, and rises strongl

i'm scott wapner our trade, the apple aftermath one day after rolling out its new iphone and watch why the stock is lower today amid predictions by some that an even bigger slide could be in the cards. with us for the hour is joe terranova and jon najarian what's your reaction

. >>> indeed it does i'm scott wapner in tonight for me will issa lee one of the bullish strategists says he's not do not worry yet, the chart master sees something hulu becomes the first streaming giant to take home the fold go the first drama series how big a win? >>> but first we start with the markets. the dow with a new record, s&p with a new record and check out the leadership as the rally broadens out financials industrials, all leading the markets higher, so do you chase stocks at these levels statistics a simple as just keep buying, pete >> i think in some names it is in other names it's more different. whether we talk about the potential, the earnings potential, even without the curve helping them out, i think the financials are way too cheap. all we have seen in the last week or so has been 10,000, 50,000, 70,000 calls being bought in bank of america, xlf, all different names, aggressively positions, then you look over at some of the industrials, but also the materials. paper has been very, very strong there as well. i this i the industrial names they feel stretched, so it

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i'm scott wapner we're live from the new york stock exchange, where a new ipo opened for trading today and could very well change the way you invest in the most promising tech companies of the future jamaf is the ceo behind that new venture which some are calling ipo 2.0. he's here for the hour today and congratulations on what i know is a big day for you. >> thank you. >> also here, john

i'm scott wapner we're live from the cnbc and institutional investors seventh annual delivering alpha conference here in new york city today the top mind in investing from julian robertson to ray dalio, sharing their best ideas, and other ones with us for the hour, investing legend james

i'm scott wapner semi surge chip stocks on fire. why the sector's breakout could keep the nasdaq's rally going. also joining us on set is jim cramer, the host of "mad money." the dow is coming off its best week of the year but it is the nasdaq that continues to be the outperformer index up 20%, showing no signs of slowing

i'm scott wapner top trade off and running. why stocks are surging today and whether calls for a coming correction are overblown with us for the hour today, joe terranova and the brothers najarian we do begin with stocks in rally mode each of the major averages up sharply at this hour and higher for month which has been historically unkind to investors. joe, as you know, a lot of people are off sides heading into today. >> look at that smile hon my face look at that mile. >> fits right into our narrative though this is not what a lot of investors expected. >> these three gentlemen are trying to make me feel better about my losses. >> i'm telling you how it is. >> oh, believe me. when i open up my account tomorrow, i'm going to see how much less it really is, yeah i mean, listen, trying to be active in the market, hedge out some of the risk obviously i took a very bad position in qqq puts that's an awful position to have this morning you take your loss, you move on, you add mitt your loss not the first time, not the last horribl

i'm scott wapner we're live from the cnbc and institutional investors seventh annual delivering alpha conference here in new york city today the top mind in investing from julian robertson to ray dalio, sharing their best ideas, and other ones with us for the hour, investing legend james chanos, always great, jim, to have you spend any time with us and talk about stocks. >> thanks for having me. >> and the markets and everything else in between steve weis and josh brown. you'll see them throughout the hour as well a great collection of investors on the stage stage behind us giving their views on the market which are at record highs as we're sitting here having this conversation give us your view on where you see the markets and where they are now. if it's justified or not in your mind. >> well, define justified. >> well, why to you think we're here >> i think we're here because basically the central banks have today'sy there's the general view that what's worked will continue to work monetary policy will stay easy, and -- and we'll live with the valuations, so i think that kind of sum

i'm scott wapner top trade off and running. why stocks are surging today and whether calls for a coming correction are overblown with us for the hour today, joe terranova and the brothers najarian we do begin with stocks in rally mode each of the major averages up sharpl

we want you to be part of the experience join scott wapner and the halftime traders for live trades and market analysis. the halftime report on the " "intrep "intrepid," e-mail cnbc.com. >>> welcome back to "fast money. a biotech battle is brewing between mylan and allergan after the epipen maker accused allergan of taking advantage of native americans meg terrell is in brooklyn for the story. >> reporter: we're here in brooklyn for the martin shkreli bail hearing, who people know for his actions around drug pricing. that wasn't of course what he was convicted of last month but some jurors were mistakenly thinking he raised the price of the epipen that was mylan an interesting case that allergan brought on friday if you recall, allergan announced it had transferred the patents to a native american tribe. that is because this tribe apparently has sovereign immunity against a certain kind of patent challenge. mylan is one of the parties challenging allergan's patents under that system. in a court filing mylan saying, essentially, desperate tactic by allergan that further demonstrates its

i'm scott wapner where we are following a number of developing stories this hour. the sudden drop in disney shares plus two key calls on two widely held and closely followed stocks, amazon and general electric let's get the latest on hurricane irma as she bears down on florida let's go to kaylee dionne who's with us today. kaylee >> the latest update as of noon today. we have 175 mile per hour winds west northwest at 16 miles per hour for hurricane irma,

i'm scott wapner our top story, small caps and big gains. why the russell 2000 has outperformed its bigger brethren this month and whether its comeback is a sign of a more broadening and stronger rally. let's begin with the small-cap stocks the russell is up 6%, after lagging the dow and nasdaq you know what, steve, small caps lead on the way up and lead on the way down this has to be a great sig

i'm melissa lee in today for scott wapner the dow crosses the 22,000 mark, we turn our focus to the final four months of the year. a lot for investors to digest today, from the jobs report to cnbc's exclusive interview with the chief white house economic adviser, gary cohn, talking about tax reform with us for the hour, jim lebenthal, josh brown, jon and pete najarian, also here with us on set, steve liesman. let's take a check of where the markets stand right now. we are seeing gains pretty much

join scott wapner and "half t e trader friday, november 10th. for free tickets, e-mail us at veteranstickets @cnbc.congress that com. >> one of the keynote speaker. line steve wynn's pockets. >> i hope i don't line them too much i want to line the charity pockets. steve has plenty of dough. brian, you're right. october 6th through the 8th traders for a cause. traders, the number 4, a cause at the wynn hotel in vegas a great time golf tournament. a lot of traders speaking about trading and investing and the proceeds go to charity whether it's wings over wall street or pediatric cancer, all of these very different great causes raised a lot of money for great causes. >> i'm going to try to make it out there. they don't know yet, unless they're watching final hours of trading, pete najarian, what do you got for us >> summit materials. a name august 30th, unusual activity here and extremely unusual because a name i'd never heard of before. suddenly, an explosive move. moved up towards 30. today up towards 32. taking that position off moving on. tryin

i'm scott wapner we're live from the new york stock exchange, where a new ipo opened for trading today and could very well change the way you invest in the most promising tech companies of the future jamaf is the ceo behind that new venture which some are calling ipo 2.0. he's here for the hour today and congratulations on what i know is a big day for you. >> thank you. >> also here, john najarian, jim laventhal, josh brown. jamoof has views on a whole number of popular companies and ones you might not have heard of yet but soon will. it's good to have you here did this go as you expected? >> it went way better than i thought it could go, quite honestly our whole goal was to fix a liquidity problem we see in silicon valley, which is employees are churning out of companies at faster and faster rates because they don't see a path on being compensated on what they believe is a fair mechanism. it's a bunch of issues with the traditional ipo process creating this log jam when we see that, as entrepreneurs tend to do, they try to unpack and fix it being able to reverse merge a lot of these c

i'm scott wapner our top trade this hour, the remarkably resilient most positively prolonged rally for stocks ever. how long the good times can really last. with us joe terranova, josh brown, john and pete najarian, carrie firestone is here also. we begin with the markets where stocks are winding down, a september to remember. the major averages have bucked history thus far and haven't had much volatility at all despite plenty of reasons to be volatile wondering what all of that says about where the rally goes from

i'm scott wapner our top trade this hour, target 2,700. why one of wall street's top strategists say the market will hit that level this year with us, jon

i'm melissa lee in today for scott wapner the dow crosses the 22,000 mark, we turn our focus to the final four months of the year. a lot for investors to digest today, from the jobs report to cnbc's exclusive interview with the chief white house economic adviser, gary cohn, talking about tax reform with us for the hour, jim lebenthal, josh brown, jon and pete najarian, also here with us on set, steve liesman. let's take a check of where the markets stand right now. we are seeing gains pretty much across the board for the major three indices. the dow, as i mentioned, above the 22,000 mark, higher by 53 points s&p up by a quarter of a percent. financials, the leading sector of the day no surprise given the steepening we're seeing of the yield curve and the nasdaq continues its leadership, higher by nine points where do we stand here how do you interpret the jobs report and mix this all together as we enter the final four months of the year >> i hope it's say when i'm saying i'm not putting too much importance on today's job report >> cut his mike. cut his micro. steve, get out of here >> th

tomorrow scott wapner has ackman they're out in force that will be a tough one for bill last thing we reported on adp, his decision not to convert his derivative position entirely to an 8.3 position in the common, still makes them a large holder, but only a 2% common holder. can only vote that 2%. he's got a tough battle ahead of him, mr. ackman. again, no surprise that he would want to try and put the pressure on to a certain extent >> very different in terms of much more general sherman march to the sea, rather than peltz. even though the peltz procter has gotten to the point where it's, let's just say, not convivial. >> that's for sure >> let's get to bob pisani see what's moving on the floor >> another day, another new high the s&p did go negative. teches have come back. it's been a laggard, healthcare, energy is back, oil is over $50, banks are okay today also a leadership group. it pays to look at major indices. we have to remind ourselves we are remaining at new highs on the s&p 500. the mid cap and the russell 2000, they are just slightly below their recent highs a lot of peop

. >>> indeed it does i'm scott wapner in tonight for me will issa lee one of the bullish strategists says he's not do not w