tv Fast Money Halftime Report CNBC May 26, 2016 12:00pm-1:01pm EDT
importance of these ceos dealing with technology and media. >> in media, he is able to say in the specific case, i will take them out. interesting. >> and strategic alternative skills like an act of desperation of facing up to someone with a net wealth of $2.7 billion. >> good luck with that. and that is it for us, and up next is wapner and the "half." >> all right. guys, thank you, and welcome to the "halftime report" i'm scott wapner, and getting ahead of the fed. what janet yellin is likely to say on friday and how to profit from it. with us is joe terranova, and josh brown, and jon and pete najarian, and let's go to the countdown of janet yellin speaking tomorrow. we have new data showing that the e kconomy is not as weak as feared, and so it is some indication of where investors should be if the fed does raise rates in june.
doc, you are on the island and you are saying that they won't go at all. >> well, no, i said that once this year, and i think it is december, and we will see whether or not they go, judge, because it is closer, and closer to the coin toss as to what janet yellen says tomorrow, and that is going to influence the markets. today a trade in the vix, and the reason i bring it up is that a lot of people were voting that the vix goes down lower and one of the reasons is that if ms. yellin is dovish tomorrow, and they bought a ton of the i think the 13 and the 14 puts with the vix right around the 15 level. >> let me stop you. the risk is that she is more hawkish tomorrow. >> well, i disagree. >> for some. >> well, i disagree, they don't move and tell the market that they are not data-dependent, and not serious about normalizing and lose the credibility of going than not going which is what happened last september frankly, so is they have gone
out of their way with the latest barrage of 900 speeches to tell people that yes, that i have the right to go, and they plan to go, and if they don't, it is probably worse than if they do. there are three stages of these things, first the initial shock when the first speech comes out and more hawkish and then the period of the market resetting the exp pecktation, and comfortable with it, and the third stage is to rally into the event, because everybody at that point says, all right, if it happens, it is not the end of the world, and people who have taken off the positions will put them back on, and that is where we are this week, and i'd much rather see them do something rather than nothing. >> is janet yellen going to be putting the icing on the cake that has been baked by others? >> yes, she has directed the guys quite frankly. and it seems like an all-out assault on all of us with the fed whether they are voting members or not coming out the tell us, look, everything is lining up, and it sure looks like june is going to be in the cards, and it is live. all of the different, you know the things that we hear every
single day, and bullard is the most recent but all of it is pointing to the idea that probably janet is leaning in the same direction right now. >> and ben, the whole premise of the conversation is to try to get ahead of that and if in fact it happens tomorrow, how do we get ahead of it? the financials are going to be doing better, and the banks are the best performerers since the february 11th bottom. >> and so did the 10-year yield bottom, and so it is not just the stocks, and to that point the market is sniffing it out, and the idea of a dovish hike, et cetera, et cetera, it is foolish, but they can come out to say, and we are in no rush to do the third hike. they do it all of the time. i don't understand why people feel like the market has not already gotten ready for this. >> and the whole host of people like dock who did not think, and continue to think that there no chance to go in june. so the risk is -- >> no chance? >> by the way, i never said no chance. i did not say no chance, i said that the ma jjority of, and tha
is true up until the last 24 hours. >> come on. >> and the majority, and even goldman two days ago -- >> what do i look like over here? you have been saying they won't go in june. >> i did say they won't go in june, but i did not say there is no chance. no chance means that i am saying 100% certainty, and i am saying, judge, in my opinion, i am more like goldman and it about a 70% chance that they go, but i am a contrarian, and i 'm betting gai against that. >> joe? >> you come into the year with three concerns, and concerns of the oil, and the federal reserve is going to talk about it, and they tell you it is transient, and concern number one is the devaluation of the currency, and concerns of the credit and the u.s. economy, and we have a report today with the u.s. initial jobless claims today, e below 300,000 for the 64th consecutive week, and that has not happened since 1973. inflation figures are moving back towards where the fed wants them to go, and oil has rallied to 50 and so we are removing a lot of the conditions that the
federal reserve is worried about, and that is largely a lot of the reasoning by hind why you are seeing this month, the changing away from the consumer staple-oriented names into the financials, and into technology. >> and do i want to keep buying financials and tech? >> yes, buy financials and tech, and oil is a fem nominal trade. i have talked about it. oil futures are up 8%, but we are not oil futures traders and i open that none of us watching the show are doing that, and the xle which is a great long-term investment is pod rating the rate of the appreciation, and it is basically unchanged on the month. what is happening now is that investors are recognizing that the yield curve is flattening and the economic data is beater, and the federal reserve want s o go, and the brexit is not as big of a risk as it once was, and the financial institutions and the technology are coming back again. >> for sure? >> and the trajectory of the oil already occurred and the
acceleration of the move from 45 to 50, and the slowdown that joe is talking about in terms of the xle, and the financials are a good place to be, and we know that, because we have watched them over the last week and a half or so as the fed speakers continue to come out to talk about june being potentially on the table, and live and all of the rest of it. and the other thing is that, you don't necessarily hide, but you look at something like the technology space. when you are looking for the growth, and the yield, and obviously, the yield is what we are talking about in this whole discussion, you will get yield, microsoft, and apple, and you won't get the same growth in apple, but that is why it is not $120 stock, and closer to $100 right now, where you have names like cisco where you are getting a 4% yield, and you can have growth and yield, and not a place to hide, but a place to be. >> i was talking to somebody yesterday managing a hedge fund and what has rebounded, and he basically identify ied the environment of the last three weeks the gift for the money manager.
why? because you want to stay with the mlp that has rebounded from the february lows and you are not sure what the forward looking certainty is surrounding that model, or do you want to now go back to the microsofts, and the old technology names that are performing once again, and apple is coming back again, and netflix coming back again, and jon had that one down around $90, and the names are coming back again, and it is a gift. you get back into the hedge fund vip trade that worked the last few years, and it is coming back around again. >> and we mentioned what oil is doing here topping 50 for a brief period of time for the first time since october. and dom chu is looking at the movers in the energy space for us. dom? >> we are giving up some gains after hitting the 50 dollar mark for the first time since october, and brent climbing to that level as well. if you are looking at the s&p energy sector, it is pulling back from the earlier climb on the crude fall that we have seen so far, and if you are looking at marathon petroleum, and chesapeake, and tesoro, and they are lagging today, but the
airline stock, jetblue and american and continental are trade ing trading to the downside and they are dragging the dow transports which is another market, and the transportation stocks are not participating as much in the last leg higher for stock. back over to you. >> dom, thank you so much. are we keeping you that interested over here that you are reduced to tracing your hand? is that what it is coming to? >> i am highly interested and creative person, and right-brain ed. >> i thought that you would hold it up. >> i tend to do my best thinking, no, listen, i have are come from the perspective that you have had this huge comeback in the energy name, and now you are seeing the rally broaden out, and i don't see why anybody would say, uh-huh, the oil stock s are down now, and the transports are down now, and everything that has come back, and you are seeing the rotation, and just beneath record highs. if you are punching through with the 70% of issues above their 200 day it is very positive, and
that is where we are right now, and i love the rotations from day to day. >> and what should we do now, joe, with the energy names. you told us to take some profits which we did after the nice gains, but what do we do? >> well, talking again specifically of the energy equities, and if you are holding the energy equities and doing it rightfully so, the investing for the long term, great. i know that josh holds the xle and a great trade. ask me where it is going to be in 12 months closer to $75 than $665, if you are trading around the energy names, i would tell you na in the near term, the majority of to appreciation has occurred and there is other areas of opportunity in technology, in financials where i believe that you could allocate money. >> so you don't want to buy say a pxd which said that, i think it is today that they'd add ten new horizontal drilling rigs at that $50 a barrel level. that 50 level is more than a psychological level. it is a real fundamental change
to the way that some of the ceos are going to view the landscape in which they are operating in. >> and i want to buy pxd because it is a shale winner, and trading at $162. and remember that $168, and $166 is the resistance level that got there three to four weeks ago, and on the longer term buy and hold mentality, pxd, and cxo and eog are shale winners burk again, we are talking about trading, and talking about what the near term opportunities are, and i don't see the near-term opportunities for the high beta energy names with one heck of a move. >> yeah, i don't think that we can look at, to joe's point, we can't look at the small and the mid cap names destroyed up the amps and the xle with the refiners and the integrated and the fundamental side is interest, because the draw is greater than expected but at the same time production fell greater than expect and that is
going to set you up for more support and energy price, and it does not want to turn you into a crude oil trader. >> and would not want to be the one to suggest it, but the murphy oil up since the february bottom, and devin up 711 are the places that the investors should look at and say, hey, they have run nearly 100%, and let's get in now after it has doubled. and the conocos that you own which are up 40% since the february 11th bottom, and more wildly held name. and what to you do in that situation? >> well, the way that the oil is trading, but the range, and higher lows, and the ranges are ratcheting higher, and we got over 50, and not over 50 now, and ratcheted back over 50, and the areas right now given what joe is talking about a second ago is how about the service names, and one of the names that we saw the activity is a name like halliburton and i have calls on them, and i like the
fact that maybe they will see some activity, where it was gone when the oil is under $40 and now all of the sudden over $40 and to $50 and maybe over $50 and those names pick up, and that could push to the upside. >> good discussion, and appreciate that. this is what is coming up on the "halftime report ". >> still ahead, starbucks still bet on china. our kelly evans is going to sit down with the ceo of starbucks howard schultz about the expansion plans. that is coming up next. and plus, making a fortune in the dollar stores. is your best bet to go cheap in retail? we will debate it. and fitbit, apple watch, garmin, and so many ways to track your fitness, but are they accurate? cnbc did a test run of the top brands, and those results are ahead. it is all coming up on the "halftime report." here at the td ameritrade trader group, they work all the time. sup jj, working hard? working 24/7 on mobile trader, rated #1 trading app on the app store.
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welcome back to fast money. governor jay powell becoming the first fed governor to speak in favor of raising the rates and saying that the rate hikes may be appropriately fairly soon and he is supporting the gradual rate hikes if the data confirms the forecast, and the forecast is growth around 2% or which is trend growth recently, but he creates a strong criteria here, and he wants to see the s significant strengthening in the
second quarter, because the growth is weak oz of late, and he wants to see it snap back, and the second quarter growth be significantly stronger. and on the overall economy, he says that it is starting to tighten, and wage firmness, and he is having concerns with consumer, an business spending, but he believes that the underlying growth is stronger than the recent gdp data has d indicate and he sees reduced global risks that we saw in the rekre recent minutes, and build-ouch the chinese debt, and ris rk from the brexit vote, and calls for things that the federal reserve can't do, and add another voice in that he is an important voice of the permanent board of governors there that is always voting as those who want to see a rate hike fairly soon. back to, you scott. >> and whether it is jup, july, it is certainly going to have a more hawkish tone to it. i am wondering, steve, what you think to the question that i asked the traders in front of me a little bit earlier if you think that the fed chair herself
is is going to be putting the icing on the cake that others like mr. powell and you could go down the list of the last ten days or so have been baking the cake to expect two to three rate hikes this year, and maybe it is june or july, but if the they do that road map, they have to act soon. >> first, i want to underscore something that you said in the beginning of the question is that powell does not give us a month, and he does not say june or july, but says "fairly soon." and for tomorrow, yellen's speech is an odd forum for the chair to make this kind of declaration, in that there is no speech or text as we understand it. it is a conversation. so you want to be a little bit careful as to whether or not she uses the that as the opportunity. it is going to be very hard for me to see if so many fed officials have spoken about the possibility of a rate hike so soon, and then see the fed chair cut them off at the knees. what she is going to be doing is
open in the middle, and hold open the possibility that the rates will rise in june or july if the data improves the way they expect. by the way, the durables number is neutral in regard to that with a 3.4% rise in the durable goods, but not the underlying business investment, and neutral, and rubbing 2.5, and goldman says 3%, and the atlanta fed says 2.3% gdp growth in the second quarter. >> but to your point, an odd forum for the chair to do this tomorrow, and how much of what the others have been doing are directly, because the fed chair herself has wanted that message to get out, and i bring up a name such as dudley which is seen to be a pretty significant move? >> look, it is hard for me to think that the guys are so far out on the limb away from where the chair is. i think that they have to be talking about this, and they have to be discussing it, and guys like dudley and rose engran
are not that far, and jay powell who is an appointee coming alongk and one of the more con s conser vative appointees appointed by president obama, and ultimately, he is not going to be far from where the chair is. >> interesting stuff. ste steve, interesting stuff as always. steve liesman with the breaking news. let's talk about starbucks here announcing a big move in china and the first international roastery and tasting room in shanghai, and our own kelly evans got a chance to speak with the starbucks' ceo. >> i know there are skeptics on china jim chanos, and so many others but not starbucks' ceo howard shuldz. they are opening up 500 stores there, and now opening up one of the showplace roasteries. orangeb nally oregon had one, and now china is getting one. >> i think it is possible that
the business in china is going to grow past the u.s. ax and the reason is that we have been so successful in china over many years, and we are just starting to get the morning day part where we are educating the local chinese to drink kcoffee in the morning. it is not possible to accelerate opening up one day store a day, but in speaking about china, shanghai and disney world is going to open up on the 16th, and the partnership with disney has been successful over the years, and i thank my good friend bob iger who gave us the pole position of us opening at the entrance of shanghai disney on the 16th which speaking to star brand and confidence that disney has in us. >> and it is the expansion into the world's second most populous country, as well. >> and india is a leading partn
partnership with tata, and we have hundreds of stores in multiple cities in india, and the growth is going to be slower there than china because of the infrastructure issues, but the growth in india is going to be paralleling the growth in china in terms of the number of stores that we will have over the long, long term. >> all right. so what about the u.s.? well, starbucks is is breaking ground on the previously announced roastery in a meat backing district, and the race is on to see who opens up first. and we will have howard schultz more on closing bell. >> and schultz knows how to strike a good partnership, tata and disney with the shanghai opening. >> oh, yes, and talking about the significant openings, and they have 2,000 in china, and he is saying that china could surpass the u.s. longer term, and adding india on top of that, and it is remarkable. >> and pete, it is upgrade for starbucks and the context is that it is a consumer staple. >> hmm. >> and we took a little bit of
the issue with, and you could make the debate back and forth. >> it is a addictive staple, and not a bad staple, but we talk about the growth in china, and he is addressing why the growth has not been there and how to get there, and he is talking about the morning day, and how about the fact that the pa partnership with him and iger, and who are some of the ceos that we put up there at the highest level? iger, schultz, jamie dimon, but you are in the right area right now, and it is making sense and why i own the starbucks right now. i like the name, and i think it is in the halftime portfolio and it is not performing well, but i believe it will. >> and it is amazing to think that it is back under $5, and so it is $10 off of the all-time high, and a little bit on the earnings miss on the last quarter, but that said, the comps, and the china comps used to be 22% on the year, and they have come down to rival the u.s., and the same-store sales for starbucks in the u.s. are incredibly strong. >> and bernstein calling that stock, and along with chipotle,
yum, and outperforming and others, and the restaurant stocks are widely talked about. joe? >> i know, but i don't want to consumer staple this company, because where the rates and am trying to beat, and what i am getting on the treasuries, and this is a company all about the growth. it is expanding the growth, and by the way, excellent capital allocation strategy. >> and we will look for the rest of the interview later, kelly. and kelly evans joining us here. and coming up, jon najarian is looking at the predictions market to see if the uk is going to push to leave the eu, and the latest numbers and what it means to your numbers. costco and the dollar is on the move. not much in retail, but they have picked up, and we will talk about it in the blitz.
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call one reverse mortgage right now to get the details, find out if you qualify and get your free information kit. all right. welcome back to the "halftime e report." and i want to call your attention to apple, and dr. j. is noticing big trades? >> yes, extremely large trades and one is 7.5 million shares and these are not options, folks, but straight out equity and somebody put it up on the midwest stock exchange and then at 99.16 and then a 5 million share block, and the same thing,
99.16, and that is an awful lot of billions, judge, that somebody plunked down, and now there is a buyer and a seller, and we know that, but this is the biggest trades i have seen in apple in a long time. >> and is that from the same person or the parties? h >> and we were wondering if it is a no-brainer which it could be. but in deed it is somebody la e large, and probably a hedge fund that -- i should not speculate who it is. >> my guess is that it is martin shkreli, and i would not put it past him. >> and people have been, you know, getting giddy about the fact that apple had rebounded to get near $100 a share within the last day or so, and so is too much being made with the recent move of the underlying fundamental questions still remain, correct? >> correct. >> and a move up by $7 or $8 back to $100 or so doesn't rerace the same questions asked over the last couple of weeks. >> true.
and mr. millonovich on the show that precedes us said that it is the apple 8 that is the real must-have new tech they will have the led scenes and that sort of thing, but we don't know what we don't know, and in september we will, judge, because that is when they are expected to announce the 7 at the musk-owned center, and that is what the buyer and the se seller, and they met at 99.16. >> and the blitz with four stocks making news today. and steel, with thoughts to tackle of supply in china. and doc, some calls yesterday? >> yes, this one popped 7% toda today, and the steelmakers, and this one being a focus, because it had come down rather severely from the rekrecent high, and it
looking like it wants to make another surge to the high, and bought it yesterday, and disclosed it here on the "halftime" yesterday, and still holding it. >> and now, josh, the comps of signet? >> yes, it had been acting well. it is a tough stock, i think. it is a niche business and really not my cup of tea, but they are not saying much different from what we heard from tiffany, and so i am not sure of why the big reaction and people are surprised. >> pete, the lowdown on costco? >> well, the earnings came out strong, and then up on the year over year, and missed on the revenues up also 2.7% or something like that, and so it is one of the things where the membership fees are going up as well, and everything looked great, and the same store sales are flat, and flat is the new up, and we have been talking about that on the show, but can you strip out the dollar headwinds and the gas being the other one, you are look at the same store sales up 3%, and that is why it is getting a boost. >> and we have not talked about
the paradigm of dollar general and dollar tree at all time highs on the earnings. >> yes, the dollar chains are doing well, and the foot traffic strong, and the prices ticked up and the expenses of the employee wages were kept at benign level, so the costs were good, and the pricing is strong, and surprising to the upside i think in the environment of retail right now which is so weak. i can't advice getting out of the stocks when analysts are raising the price targets up to the 90s. >> and gas prices hit the lowest levels in a decade. is cheap gas here to stay? we will go to the pits for that. and wilfred frost is covering the brexit vote for us. >> it is just four weeks ago, and the latest polls and what it means for markets coming up after the break.
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headlines. >> and the g7 leaders have gathered for a working dinner. earlier in the day president obama spoke about the north korean nuclear threat. >> north korea is a big worry for all of us. they are not at the point right now where they can effectively hit u.s. targets. but each time they test and even if the tests fail, ta learn something. >> four airmen have been rescued after two f-18s collided in midair off of the coast of north carolina. the airmen were in good shape, and one has a minor leg injury, and we will bring you more as that develops. and this video is from dixon county where numerous tornadoes were spotted in kansas, and 15 to 20 homes were damaged or destroyed. and according to a new surveys, more americans are l
likely to take a road trip than fly. they project that motorists have saved more than $58 billion in gas thiser year. and more americans will travel this weekend up since 2005. >> thank you. and the brexit count down clock has begun leaving one month for the uk to make the decision to leave or remain in the eu. and wilfred frost is joining us now with a look at where the odds aodd odds currently stand, and what it means for the money. >> yes, four weeks to go until the uk votes on whether or not to stay in the european union. the latest polls have the remain camp firmly in the lead. 46-40. while betting markets now imply that 20% chance of exit. inde indeed, the momentum behind the remain camp has increased over the last few weeks. and what does this mean for the markets? sterling has rallied recently in the remain momentum, and the
dollar gaiagainst the pound has dropped to 146.42 and close to the highs since the are referendum date was announced when sterling fell below 139. but for some context, we have a full year's chart, and you can see that june last year we were back at 1.58, and lot of of factors kipt up there including the rate height expectations. now, could the polls which point to remain at the moment, could they be wrong, and some crucials a spects to focus in on here, and the first is turnout. you have to remember that the passion behind the leave camp is stronger than the passion of the remain camp, so if enough voters of the leave camp come out more so than remain, that could swing the vote. and the online versus the telephone polls. the telephone polls give the remain camp the lead at the moment, and sterling, and betting markets are focusing on the telephone polls. and final ly, the secret brexiteer, and something i have been calling it over the last 24
hours is whether the people are publicly speaking to something on the pollsters or people on the street to say they are going to remain, because it is not trend si to say that you are going to exit and perhaps like voting for donald trump, and how many secret brexit voters are out there that the polls are not capturing. >> either way, it is close, and that is the point. wilfred is going to be making his way over here as we start the conversation on the desk. doc, you been focusing on this more than anybody else. >> yes, as you know, judge, i'm frequently a contrarian and i follow the fast money and the smart money i like to call it with the trades and the actual dollars are put on the table, but as far as polls as wilfred correctly named, the telephone polls, and i don't know who answers the phone, and answers and talks for free for several minu minutes with some pollster, because i would not, and that is why i like the online polls more, and they have a much closer poll going on. and could the pound continue to
drop? that is as he mentioned when it drops down the 139 and the high was close to 160, and so that is one of the worries, because if indeed that happens, and cameron has already negotiated that they don't have to go on the euro, they will stay with their own currency in britain, and regardless, this is not going to change that. in other words, right now the fx concern because the pound is separate from the ur row, but if they were to leave, and then all of the sudden this softened up, it is very bad for travel and business in the uk. you can only imagine, judge. then you throw it into something like glaston bury which i mentioned a couple of times, the big music festival, and hundreds of thousandses of young people go there and they are the most like ly voters according to the polls to vote to remain, and if they can indeed not vote, because it runs from the 22nd of june to 26th, and that is bracketing around the time, and
that wilfred is talking about and that close, it is going to make a difference. >> that is nice anecdote, and the issue that we are not addressing is the impact to global markets, and we know that the currency s wiies will be vo as a result, but the european markets and our own here at home, and how will the markets themselves take the news? >> well, the big factor of the last couple of weeks is that the fed meeting a couple of days ahead, and is it worth not moving the interest rates when there is a big global risk factor, and it is worth mentioning more than just the pound. if you are looking at the uk market markets the ftse is still international and commodity-based and the ftse 250 which is the next 250 company, the 100 plus the next 100, and that is similar to the pound movements, and another area to focus on as well as the euro is that it is on the pound movements alongside the polls, but this is a big, big risk for europe as well, both in the short term in terms of the liquidity moves on the day, and the following day, but also the political question moving
forward, because europe is very, very weak at the moment, and could it deal with one of the lead leading economies and the countries pulling out of the eurozone, european union, excuse me. and so that is much more future and not the immediate. >> and the unknown facer tomenttor. >> -- unknown factor. >> and if britain decides to leave, it would not be good n s news. >> well, it is a surprise given the expectations now sh, and th relevancy here going forward is the domestic economy, and what is going to happen, because the trade agreements when ta leave, they have to be re-negotiated over the next 24 month, and what do you agree to. >> and the polls were similar ri wide as they are now, and as you
got to the week of the vote, the polls had narrowed but more because we were closer to the vote itself, and right in front of us on the agenda, and we saw the pound sell off significantly, and the markets have a jitter around it, and that is just scotland leaving the uk, and this is the uk leaving the eu, and i expect though the pound has rallied from the low of 139 when the date was announced and the we weakness as we approach the date itself, and if you have an actual brexit vote, then much more on the downside. >> and i think that the maiden voyage on the "halftime report" went well. wilfred frost with us. >> thank you, sir. >> and now, the tech stocks are surging in a week for jon najarian. and also, the apple trade, and fitbit and apple and under armour and more, and we will look at the stocks as we take a break to look at the dow 30 heat map. the halftime report is back after this. >> and the halftime report with scott wapner is the place for market moving interviews. >> you don't call the company a
sewer because they made a mistake. >> real money -- >> we are short tesla and solarcity. >> real debate. >> people think that globalization has hurt business, but sut not. it is technology that has hurt the businesses. >> philippe dauman is going to go down as the worst ceo of modern time. >> and the most important trading show of the day. >> i usually get to tweet about it, and now i'm on the show. it is one of the most exciting day days of my life. is
coming up on "power lunch" the ceo of the buyer tillman r fertitta, and oil hits $50, and we will also talk about 3% down on the home mortgages. are the banks back to the old ways? >> and jackie deangelis is back to phi mex -- to the nymex. >> yes, and many people will be traveling to get away, and millions of americans, and 38 million according to aaa are going to be hitting the road. and now, let me ask you about gasoline and what it is telling us about the energy complex, and
is gasoline leading the crude higher? >> well, it is, jackie, and heading into the driving season, you can see the runup in gasoline, so it is not unexpected here, but what you are looking at here is a level that the gasoline has reached to make a nice run. we have the strikes going on in france that have cut the supply in terms of the refinery areas, but the demand picture has not been that great. i know that you said that a lot of americans are fwgoing to be hitting the road, but the demand numbers, the picture is not great, so we will get some consolidation in gasoline, and probably at where we r and i would be a buyer on below 1.60, or looking to trade up to 11. 0 11.7 -- 1.70. >> and scott nations, is there room left to run here? >> i would be dubious. gasoline has rallied at a tidy channel from the low that we saw in february, but it is nowt at the top of the channel, and if crude oil is of bought, and the index says it is, then i would be more worried about the
gasoline. and i this they the botful to channel is the 50-day moving which is 1.52 or nine cents below where we are right now. >> thank you. we have the online show in a few minutestime, and we will be talking to bob iaccino who is telling us why the sale is at 50, and christina hooper who is going to el us why the markets are up, but due for a pullback. that is coming up next online. and now, these days everybody is wearing a fitness tracker, and how accurate are they? our eric tchimi put them to the test. >> and joe terranova is still trading up. opportunities aren't always obvious. sometimes they just drop in. cme group can help you navigate risks and capture opportunities.
we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances. hey kevin. hey, fancy seeing you here. uh, i live right over there actually. you've been to my place. no, i wasn't...oh look, you dropped something. it's your resume with a 20 dollar bill taped to it. that's weird. you want to work for ge too. hahaha, what? well we're always looking for developers who are up for big world changing challenges like making planes, trains and hospitals run better. why don't you check your new watch and tell me what time i should be there. oh, i don't hire people. i'm a developer. i'm gonna need monday off. again, not my call.
. welcome back. we told you about headlines concerning gawker. i had hired bankers and to shop itself around, explore strategic alternatives. now, scott, guys, we have a statement from gawker. as gawker colorful fashion here in, that statement, they go on to say, everyone take a breath. we have had bankers engaged for quite some time given the need tore contingency planning around facebook board member peter thiel's revenge campaign. that's how the columbus nova
investment was arranged. we recently engaged mark patrickof to advice us and that seems to have stirred up some excitement when the fact is that nothing is new. that's the statement from gawker when they engaged with bankers. now it seems as though the engagem next. t of mark patrickooh.f is the new step. >> all right, dom clu. thank you. step counters and heart rate monitors surged in popularity recently. but are they as accurate as you think? well, we put them through the ringer. >> fitness trackers, everyone's wearing them. well, almost everyone. but how reliable are the stats? we garthed eight devices and put them to a very unscientific test. start with the most basic.
number of steps. i got a huge variation in the numbers. in just a small time frame, i saw ranges between 1500 and 2,000 steps. that's a big deal if the goal is to get 10,000 steps a day. while one app may say you got 10,000, another might say you're stick at 8,000. when i counted 5 hundr eed 500 , one of the two fit about it wases the most accurate coming in just above 500. whether it came to heart rate. i counted my pulgs at 140, all the devices had me less than. that come on, give me some credit. >> all right. getting a burn going. >> it was the apple watch, though that, did come the closest. and distance walked, some apps thought i walked over a michl others were low balling me by a good 20%. but it was the winning's tracker that gave me the most accurate results. >> all right. he joins us now. the latest edition of the chemy
report magazine. >> yes. i have some of them here. still not as much bling as my neighbor. but what's interesting is look at these stocks. they trade based on what we perceive as quality. but i'm wearing them at the same time. i'm getting different counters. if i'm a regular consumer and bought one or, two i may hate them or like them. i may think the stock is good or bad base ond something if i just had a different product, might be better for my stride length. you're toller than me. there may be a device that works better for your body frame than me. everyone is just making up what they think. i couldn't get these numbers to match. >> why don't just average them snaul. >> just wear them all. >> but think about a regular person. they're not going to buy ten and average one. they're going to pick one. >> you look like johnny depp right now. >> this isn't even all of them. >> you are telling us which actual brands you're wearing and which performed more accurately or is that not of this? >> that's what i want to know. >> whether you talk to the companies, they say this didn't
match up. they'll say it was the treadmill was wrong. it wasn't accurately giving you the half mile or one mile. or different companies will say if you move your hands too much, some people will give you steps credit but others won't. and each company will say, our device is set up not to count your arms and only to count steps. they all claim theret best. clearly if, all the numbers are different, only one of them can be right. >> how about, in other words, the most cost effective, which one would you have bought? >> most cost effective, that's a tricky one. it depends how much it masters. the ones good at steps are not as good as heart rate. do you care more about heart rate or steps? on the steps one, a basic fitdit may be fine. >> i wear a fit bit tracker around my waist, it's called a belt. it's not going well. >> i don't have a bias. i don't own any of them. i'm in the belt cat gorey.
who should apple buy. and last year i said they should buy viacom. turns out that financial times said they might have been in talks with time warner. well, that's helping netflix. that is one of the under the radar stocks for me because stocks surged all week long. went to 104 today on that release by the financial times. i think the short interest is -- >> fanning is working a little bit this year. >> this one more than any of the other parts. >> no, it is what it is. >> yep. >> facebook? >> facebook, absolutely. on tuesday everyone was talking about it rolling over. the stocks continue to move to the upside and so many have called the top for it. i think $120.56 is the high. >> let's talk about what we're watching closely tomorrow. we have this yellen speech can ch may not be the greatest forum
for her to speak on where she thinks the direction of interest rates are and the most near future. but what you are going to be watching tomorrow? want to see if apple gets over 100. want to see how the market finishes the week out after a pretty good week of gains? >> yeah. last week we snapped that losing streak. this will be a week where we actually start to make forward progress. and the closer we get towards the may and june 2015 highs on the major averages, the more critical the way the market acts can be. i think a lot of people will take the action from funnelthe fundmentals. today we're showing weakness. understandably so. but where did oes that put us? >> waiting for tomorrow and how does the market react tomorrow and do we see volatility continue to go lower? i'm not happy about the results yet. >> doc? >> well, i'm going to be watching primarily, judge, the
crude oil. same thing joe is watching. brent and regular contracts got pulled back. >> right, goes over $50 today as does crude, up for the first time since october g stuff. we'll see you tomorrow. >> all right. thank you for watching as well. send it over now. "power lunch" begins right now. >> thanks, scott. welcome to "power lunch" n less than one hour from now, donald trump is expected to unveil his big energy plan live from north dakota on a day when crude cracked above $50 for the first time since october. it pulled back just a touch right. there overall, the crude run is massive since oil's february bottom. crude gained nearly 90%. welcome, everyone. along with tyler mathisen, i'm melissa lee. we're drilling down ott big