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tv   Closing Bell  CNBC  June 28, 2016 3:00pm-5:01pm EDT

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19%. seeing citi, comerica and citizens. >> don't give it all away now because more of us. >> can never have too much. >> we have one other thing in common because virginians. we both hate beets. >> i love them. >> no worse food than a beet. >> thank you for watching. >> "closing bell" starts now. good afternoon, everybody. welcome to "the closing bell." i'm becky quick at the new york stock exchange. >> welcome aboard. >> thank you, bill. >> yes. don't adjust your sets. she is here when the sun is up today. >> been way too long. >> i'm bill griffeth. following that dismal two days for the market, following the brexit vote, is this rally for real or what they call a dead cat bounce that investors should
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be wary of? all things to talk about coming up here. plus, speaking to a top strategist for a take on which sectors could be big winners of the uk's move to leave the european union. and one industry really hurt by brexit has been the cruise lines. coming up, carnival ceo with us telling us how the uk's plunging pound could affect his company's bottom line in a little bit. also, nike set to report earnings after the bell and give investors a good read on the state of the consumer spending. we will have instant analysis of those results here on "the closing bell." >> let's start with rebound and whether it's a head fake or not. bob pisani, what say you? >> for the most we are doing well and going into the end of the quarter. just off the highs of the day. oil is moving up, as well, in the middle of the day. take a look at the sectors and
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tell l you what's important. most beaten up sectors in the quarter moving. bank stocks and retailers that are horrible and restaurants and that's the jets, the airlines. they have been terrible. some down 20%, 30% and some of the other groups overall on the upside include, for example, semiconductors on the bottom there doing better here. let's talk about the market in the last hour. the early gains are holding overall and that's the important thing. watch the dollar and the ten-year. 6 to 1 advancing to declining stocks. best of all day. volume on the heavy side. you want to see coming in trying to buy stocks and not who cares and the volume isn't doing much after declines in the last couple of days and the volatility, vix is dropping. we're at a three-day low and back below 20 where we were prior to the results of the brexit here. meantime, i'll show you the beaten up groups and tough for
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the banks and the stress test results are coming out tomorrow. bank of america still down 7% or 8% on the quarter. retailers, a horrible quarter. nor strom's probably down 32% 33%, 35%. it's up not a lot but at least it's a move going into the end of the quarter. come on over here. another horrible group. the airlines. here's delta. up 3% today. dell the's been down what? 30% on the quarter. all the airlines have been terrible. at least there's some buying interest going into it. even the restaurants have been doing very well and talking about the lackluster interest in them. mcdonald's up a little bit and probably down 6%, 7%, 8%. they're down even more than that. remember, it's the end of the quarter. thursday. and we'll be reviewing the next day or so and then the chance of a pop going into the quarter and also some pension rebalancings, as well. we'll talk about that tomorrow.
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right now, a rally going. back to you. >> we keep asking the question, is this a sign of a stabilization in the market? what would you have to think that things bottomed out here? >> volume watcher, heavy volume today. the dow up 200 points and below average volume. i would say, well, okay. at least the selling interest is exhausted for the moment but buyers are not very enthusiastic and getting good volume. the problem i've got, becky, is this thing could be blown apart again by the meeting going on in europe. if it comes out with the eu officials that they're being vindictive any way that could spook people again and too many x-factors to feel confident. on a normal situation, we should be modestly higher going into the close on thursday, the end of the quarter. >> thank you, bob. see you at the close today. bob pisani. we have been watching oil and gold and running in opposite
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tracks. bertha coombs at the nymex with the latest on that. >> hi, beckdy. energy today is definitely the winner. nice rebound on wti and the rest of the energy complex. a part of it is going along with that sort of folks coming in and buying from oversold conditions with the markets overall. however, we also have fundamentals. the inventory report from the government tomorrow. morning. the expectation is that we'll see a draw down over 2 million barrels and a bit supportive and then support out of europe, as well. norwegian oil workers are set to strike on july 1st so their contract expires the end of this week if they go off line. about 1.5 million barrels of production a day and that's supportive to the markets especially seeing some oil come back online in nigeria so it would balance that out. also, of course, with gasoline, taking a look at the energy
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board, gasoline is higher today, the peak of driving season. aaa's expecting us to see record travel this holiday weekend. and natgas is big gainer. futures off the books today and seen a refinery outage in mississippi. that due to a fire and that sent those futures higher today. big winner, in fact, for the quarter. finally, gold has come off of its highs. it did hit a new 52-week high earlier in the day and did come off and still up for the week and up for the quarter. back to you. >> all right. thank you. we'll be checking back there. let's get to the closing bell exchange for this tuesday. kick things around with joe from united capital. steven from deep values sitting next to me at post 9 and rick santelli checking in from chicago. sarge, little strength going into the afternoon now.
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>> 2021 was the 200 moving 2-day coming in. we got a strong move, about half an hour ago and blew through and above that. >> so is it for real today or just a relief? little bargain hunting? >> like bob pisani said, what comes out of the eu can change things but it's for real and because of the move that is we have seen in debt markets very recently, about $13 billion or $14 billion has to come into the u.s. equities today. it is expected to be pretty good. >> hey, joe, let's talk about oil prices. higher today. jim cramer has been saying that the stock market will go the direction of oil. do you buy into that? >> i think i'm more concerned about interest rates than oil, frankly. and what i'm seeing everywhere is that we're talking about this
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like it's a crisis. in fact, it is a choice and what the english people said is we don't want as much regulation, we don't want the central governments of europe telling the curvature of a bah in that. believe it or not that's a regulation. i don't think this is a vote against globalization. in fact, what i care about is what's happening for interest rates because that affects investors a lot. and so i think you want to see what's happening with financial institutions, what's happening with interest rates because when you have negative interest rates and almost $13 trillion around the world with negative interest rates invested, it's a distortion of factor has an impact on all investors and much concerned about than oil. i think what we're seeing everywhere is a penalty but i care more about interest rates. >> rick, where do you stand on today? i mean, the classic turn around tuesday. just a bounce or what do you see going on today? >> you know, if brexit never
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existed, i think that the markets would have these types of sessions in the last several days and not surprised that the market is stabilize somewhat. doesn't mean it can't get nasty again and this is unlike '87 and the credit crisis and the beast way i've been trying to look at it is, you know, if you're part of the euro sharing group and things go wrong, you're stuck with the euro. think about the plirght of greece, spain, portugal. if they lowered the price, things would have been better. look at a june month to date chart of the pound versus dollar and the euro versus dollar. okay? euro versus dollar from the top 1.14 to 1.10, a 3.5% move and the 149 to 132 on the pound, using closing levels about 12% move. okay? to me, "a," i think the brits
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can heal themselves better and they like to do exporting. they needing and i think the rest of the eurozone will be happy to comply and i don't think it's a horrible thing. what i do look at, pulling forward all the things that we have wallpapered over for a long time and to me that's the real story. >> yeah. that's a fair point, rick. earlier this morning we had former treasury secretary larry summers on talking about the concerns for the market. listen in to why he thinks stocks have been discounted recently. >> you have a system that i've been warning on this show for the last year half is more brittle than usual because central banks don't have room and you have brittleness and you have a bad shock. and that's a prescription for a quite difficult situation and i think that's what markets are
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discounting right now. >> rick, i know you don't see eye to eye with larry summers but the idea you'd been warning about this for a while, too. central banks don't have much they can do. do you agree with the analysis there? >> i agree with everything, except for the main thing. why it's brittle. and when i think brittle, i think of peanut butter brittle and the policies are nuts that put us in this condition. he's correct. but it's a self inflicted condition. negative rates were properhap waited by mario draghi. the list goes on and on. the regulations. all of it. see, i never have a problem with larry summers. he thinks we have a stagnant economy. i agree. where i never agree with larry summers is why. who caused it and how to fix it. because in the end, he's the same type of bureaucrat that brexit said, out of here!
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>> i'll tell you what markets are trying to price in. uncertainty because there's so much of it but to relieve it, our leaders, elected officials, on their game and probably are not, they would be calling cameron or whoever they think might be in charge in great britain and say join nafta. we have a nice little group over here that doesn't require border control. >> exactly. >> have your own money supply. control your own interest rates and trade amongst ourselves. >> i don't think donald trump will be calling to make that invitation. do you think monetary policy around the world xexacerbated te issues that are highlighted? >> i couldn't agree more with rick. you basically have countries in the world that have dual currencies like switzerland and norway and england with choices about how they're going to make decisions. and then you have the central banks corrupting the way the
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entire world systems work when you have negative interest rates. really making it impossible to get yield for anyone and who suffers? the consumer. who's retiring and cannot make a yield and has to now make choices beyond investing with no real good alternatives out there forced to go at the risk curve because the governments not helping the economies by keeping rates this low really making no positive impact other than causing people to have to take risk and push asset classes up and inflate asset values. >> right. >> that is not helpful to actual growth in gdp. i couldn't agree more. the good news is this is simply a tax on the way europeans do trade. it's not going to impact the long-term gdp. we need to be concerned with how central governments making choices and there's a message about trump and bernie sanders and the brexit. it's that the world consumers are frustrated with the way the
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governments are making choices. >> not alone in many cases. appreciate your thoughts on today's trading action and this bounce. whatever it is. we got 47 minutes left in the trading session here and the bounce continues. the dow up 245 points right now. we have much more to come today on whether the bounce we have been seeing a real rebound, a bottom or is it a fake-out for now? bill mccawley will be speaking with us exclusively and editor tina brown will weigh in on brexit's ramifications and the man that may become the uk's next prime minister. >> not a real fan either. up next, live to london and demonstrators protesting the outcome. that's on "clong bell." this is a game of yards and inches,
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welcome back. we are in the final hour of trading. you can see right now the dow industrials are up by about 231. near the highs of the day. >> nasdaq, the leader today. more than 2% gain right now.
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let's see what the gun 30 stocks are doing right now. the last i checked only a couple of stocks lower today and that's still the case right now. >> verizon, walmart and dupont among the laggards there. they're downgraded. jp morgan cutting the price targets saying that economic head winds in europe could hurt profit margins. dow chemical is seeking approval for a merger with dupont. well, while we're talking about dow chemical, let's highlight the company cutting 2,500 jobs, shutting plants in north carolina and japan. as it takes full control of the dow corning silicon joint venture. dow paid for full ownership and completed that deal earlier this month. that stock as we highlighted down 2.6%. meanwhile, lendingclub is trading higher. named acting ceo sanborn as the
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permanent chief executive and cutting 179 jobs and it expects to see revenues and earnings growth resume in the first half of next year. moody's weighing in on british banks. what are they saying now? >> bill, that is correct. moody's changed the outlook following the uk's decision to leave the european union. moody's rating agency has changed the outlooks at eight banks. to negative from stable. three of which include barclays, hsbc and two banks have been reduced to a stable outlook from positive, those two include lloyd's and principalities building society and moodies expects that the high degree of uncertainty over the uk future, trade relationship with the eu, leads to lower gdp growth in
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response to diminished confidence and lower spending. they say or expect reduced credit demand for banks for volumes of uk banks. nonetheless, the ratings changes. guys, for now, back to you. >> all right. thank you very much. i think it's all coming down to a lack of understanding of what's going to happen here. you know? when there's so much uncertainty, of course, you have an impact on the economy. right? >> it is something to sit up and pay attention to. when you see the massive drops on the stocks. what happened with all of this, it does suggest of concerns there. larry summers was on today. there's the point that there's money ingested in these. not a question of liquidity. >> it is not a financial issue. >> if you're an investor in the stocks, that's what you have to be on the lookout for. >> absolutely. now a test in london.
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sara eisen is following this. what can you tell us? >> reporter: thousands of people have come here, becky. we have moved locations. we followed the dmemonstrators o parliament. they're here to protest the brexit vote. they're here with the message, vote it down. that is a recuring chant. eu, we love you. we want in. those are the sort of messages hearing behind me right now. we should say that it's not representative of the whole country. we are in london which overwhelmingly did vote to remain inside the eu. also, as you can see behind me, the crowd is very young. there are a lot of students, a lot of young professionals who also voted to stay in. i've been talking to a lot of guys here talking with them asking them why now? the vote happened went against you. they say that the politicians don't have a plan and also here
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with a message against boris johnson, the former mayor of london, the current front-runner of the next prime minister. there have been numerous chants including boris is a liar. obviously, he was one of the leading voices that campaigned against the brexit vote. so, a number of messages. i'd sum it up. i've been here about a week and seeing behind me and speaking with dozens of people who voted out of the eu, the common thread above the economy, above immigration, which are all issues at the heart of the campaigns, it really is about the identity, a lot of people here say that they're europeans. they identify europeans. they want to be part of europe. they stand in solidarity with europeans and number of the vote out people we talked to say we're british. not europeans. we remember the way it was before. above all, i'd say that that's really what this is all about. the identity. and there is a clash and this country is divided and whoever
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does become the next prime minister in early september is going to have to face a country that clearly is split when it comes to their destiny. back to you guys. >> all right. sara, thank you very much. a demonstration of regret, obviously. >> yeah. for the people that lost. >> those pple that voted the other way. you know, united kingdom's decision to leave the european union goes without saying came as a surprise to many here in the u.s. and the uk. but scott at wells fargo says investors should look at it as a speed bump on the way to improving economic growth and to explain scott joins us now. he's the senior global equities strategist. scott, welcome back. >> thank you, bill. >> so much uncertainty. we're in unchartered territory. this has never happened before. the politicians pointing fingers right now to figure out what to do next. how is an investor to make sense of this and put money to work?
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>> it is pretty confusing, bill. you mentioned in the last segment 200-day moving average. sunday night and monday in the u.s. all day long yesterday was about breaking through that and running stops. today was about battling back and i think that's some keys, keys right there. but there is a lot of confusion out there. undoubtedly the eurozone, growth rate is hurt maybe by a couple of tenths or something like that. the uk probably more than that. our argument is that the domestic economy here in the u.s., the trajectory of that economy and really much of the world is going to be completely unchanged by the brexit vote. so we want our clients stepping in here, they're certainly sitting on cash like many retail investors are that's easier said than done but i think a year from now when you look back you will have said, you know, this is a buying opportunity. i mean, think of it from thursday's close until right now
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we're less than 3% lower. we're 5% lower than the all-time record high. right now, the market's acting the way it should. uncertainty but not total panic. >> scott, how do you come up with the idea it doesn't impact us at all economically? do you think we benefit from the investment money and the business spending not going to other places or -- i mean, how do we stand alone? >> you know, becky, i think there will be fits and starts in our economic growth. clearly, we do a lot of business by europe and affected by a tenth or two tenths or something in gdp and not the end of the world and i would argue with the stock market goes and bond market, money comes to the u.s. we have slow growth but it's dependable. the rest of the world knows that. i think you continue to see money flow to the u.s. because of this vote and for us, we have a 2190 to 2292 target out there.
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>> scott, i hate to interrupt you. stay with us for a moment. we have breaking news on possible explosions at the airport in istanbul. let's get over to sue herrera. >> thank you very much. indeed, several news agencies are reporting and nbc news is working to confirm two explosions that may have hit istanbul's airport, the main airport in istanbul. there are reports from reuters and associated press of multiple injuries. quoting a turkish official. nbc news is working to confirm that. we don't know how many people have been wounded. there are also reports that people are being transported by ferry and looks like associated press, two explosions hitting the main airport there in istanbul. we'll get back to you as soon as we can. >> sue, thank you very much. scott, clearly, i mean, goes without saying, we live in a dangerous world. you never know what's going to
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happen next here. but you still see opportunity. i guess what we're getting at is you're not ready to rush in yet to these european equities. you want to put a shopping list together at some point. is that the idea? >> i think you're going to see european equities. i mean, we are underweight emerging market and not that keen on developed international equities, not ready to jump in there yet and we are ready to leg in to u.s. large cap u.s. stocks. for instance, telling clients, you have money on the sidelines. right now step in with a third of it and no problem doing that. if the market trades lower, i don't think it will go a lot lower, put the rest of the money to work. we want to buy u.s. large cap stocks. that's what we like. some of the, you know, i mean, european banks and things like that, that's a catch the falling knife and not near those right now but as far as u.s. stocks, i
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think we'll look back an say that was a good buying opportunity. >> all right. scott, we want to thank you for joining us today. we'll continue to keep watch on it and talk to you soon. >> thanks, guys. >> see you later. heading to the last half hour of trading today. they took all our monitors away. the dow up 200 points. there we are with the s&p up 27. nasdaq still the best gainer right now, up 1.79%. up next, silicon valley widely seen as a bastion of democratic political support and imagine the eyebrows of tim cook hosting a republican breakfast fund-raiser. we'll get the story live. and then after the bell tonight, dow component nike expected to post results. we'll bring you those numbers the moment they hit the tape along with the instant analysis coming up. stay tuned.
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welcome back, everybody. apple ceo tim cook hosting a fund-raiser for house speaker paul ryan and raising eyebrows. josh lipton is live in menlo park, california. josh, good afternoon. >> reporter: well, becky, you know, if you run a big, multinational company, it helps to have friends in high places. and apple c eo tim cook is paking sure of that and hosted a private breakfast with house speaker paul ryan here in menlo
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park, california. he was raising cash for ryan and the committee to help elect other house republicans. of course, it is critical for cook to maintain close relations with the gop just given how tension that relationship has now become between apple and donald trump. in fact, it's because of trump that apple will not be donating technology to the gop's convention in cleveland. not everybody, though, is too happy about this fund-raiser out here. house minority leader nancy pelosi telling the san francisco chronicle, quote, poor tim. what a nice guy he is. but somebody gave him bad advice. he probably doesn't think that much about politics. now, apple declined to comment on pelosi's remarks and we should mention cook, though, gives money to both sides of the aisle. opening up that checkbook to both republicans and democrats. guys, back to you. >> all right. josh, thanks very much.
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josh lipton there in california. time for a news update now with sue herrera. >> hi, bill. donald trump out again blasting u.s. trade policies in a speech in pennsylvania today. he called the nafta trade deal signed by then president clinton the worst ever saying he would negotiate a new pact and withdraw if he couldn't get a better deal. >> nafta was the worst trade deal in the history -- it's like the history -- of this history. and china's entrance into the world trade organization has enabled the greatest job theft in the history of our country. the florida department of health has confirmed its first case of zika-related microencephaly. the mother contracted the virus in haiti and traveled to florida to have her baby. hoverboards, kiddie die pools and toy guns are among an analyst of hazardous summer toys.
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the massachusetts-based world against toys causing harm or w.a.t.c.h. presented the report at a children's hospital in boston. philadelphia home where grace kelly grew up is for sale. the 6-bedroom colonial could be yours listed for $1 million. the home is registered as a pennsylvania historical landmark. it was built in 1935 by kelly's father. that's the news update this hour. back down to you guys. bill, we are following the story in turkey, as well. >> very good. thank you, sue. see you later. we have 26 minutes left in the trading session here. bounce today after two days of big declines. dow up 210 right now. we'll have the latest on those possible explosions at that airport, as well. also ahead, wall street saved. we'll hear why cashin thinks the rally will evaporate as quickly as it came. people talk about "deals"
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welcome back. we have additional information on breaking news we've been following. sue herrera has the details on the explosions at istanbul's airport, sue. >> yes, indeed, becky.
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the associated press is quoting a turkish official saying it's two explosions that rocked istanbul's ataturk airport a short while ago. the official says numerous people have been wounded in the attack and unclear whether the explosionless were caused by bombs or a suicide attack. turkish media as we look at these pictures that we are getting in from trt world, this is their off air feed that basically there is reported although nbc has not confirmed the sound of gun fire at the scene and as you know, that part of turkey has been the subject of several attacks by state militant groups, islamic state militant groups, as well as kurdish groups. so, turkey, unfortunately, is no stranger to violence but there are reported to be two explosions at istanbul's main airport which is the ataturk airport and those feeds once again from trt world.
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we'll keep you posted. nbc is working to confirm the number of injuries and people who have been wounded. bill, i'll send it back to you. >> all right. >> sue, it may be worth pointing out just to mention turkey's no stranger to this. turkey is a neighbor of syria. >> yes. >> obviously, the conflict with isis is a huge issue that's been stepping up intentions in recent months. >> absolutely. absolutely. they have ratcheted up security at that particular airport. we have been reading about that lately. but they have been subject to several attacks, sometimes those attacks claimed by the islamic state. other times by kurdish militants and as you say security is tight. but apparently there have been two explosions. according to this turkish official, we have the foreign desk working this story and a nbc producer on the ground trying to get to the airport and making calls on it. we'll keep you posted on it.
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any news on that or nbc follows up with any confirmation on that. back to you guys. >> all right. thank you very much. again, that's the latest on those attacks or the bombs, explosions of istanbul and keep you updated. right now, over to bill. >> i'm here on the floor of new york stock exchange with arthur cashin of ubs. no market response to that that we're seeing? >> no, absolutely not. i think waiting for details. we have enough confusion, enough other fronts for what's going on. >> what do you make of today's rally? just a bounce or what do you see here? >> i think it has the aspects of a very heavily oversold bounce. the market got -- bulls bailed out in the afternoon by crude oil. crude had been up like 80 cents or something like that. now it's up over $1.50. that's taken the dow back to its highs. if crude had not moved up i think the dow would be up 80 points about now and given some of this back. >> following the pound for a
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couple of days and now back to oil again. >> the pound bounced and not very much and one of the reasons that makes me believe it may be just a little bit of an oversold rally. >> we were talking about this earlier. i'm trying to get my arms around what the markets do with the brexit process as it begins. does it embrace -- what will make the market go up or down, do you think? >> a little more certainty. right now they don't know who's in charge. cameron's in charge and announced himself to be a lame duck and not doing anything concerning brexit. so we'll look at weeks if not months of uncertainty. that's why i think by default the market went back to oil today and said, well, if i don't know what i'm looking for, let's look at something to count on. there's a lot of rumors apd data after the close to show a big drop. >> i'll let you go. you have to do the head count. thank you, arthur. see you later. becky? >> thank you. we have about 19 minutes before the closing bell today.
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as we have been watching, dow industrials sitting back up at about 238 points near the highs of the session. s&p up by about 32 and the nasdaq is biggest gainer up by 2% today. much more on the reported explosions at the istanbul airport and tracking that and while the brexit cost the markets $3 trillion, jeff cox say there is's a long game to be played that represents a historic investing dew poi inin. we'll explain for us next. we're good. okay... what if a million people download the new app? we're good. five million? good. we scale on demand. hybrid infrastructure, boom. ok. what if 30 million people download the app? we're not good. we're total heroes. scale on demand with the number one company in cloud infrastructure.
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welcome back, everybody. we are looking at a much better day for the markets for the bulls. of course not saying much with the last couple of sessions but it is the nasdaq boasting the best percentage gains. susan lee is at the nasdaq. >> hi, becky. we are closing in on session lows into the close today and convincing volume here. some people are looking to buy bargains at this point. but even with the gains of 2%, we are still in correction territory of yesterday and still down 10% from the 52-week highs and 100 largest companies and may not surprise anybody looking at the likes of facebook and
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amazon. microsoft and apple. technology names leading the advance. you can understand the bargains with facebook and amazon with stellar years so far and interesting that apple and microsoft are also picked up today. i guess lifted in this relief rally of sorts. they haven't had the best 2016 and i guess we are coming off oversold values and there we go. looking at the best day in a month's time for the nasdaq heading into the close. >> susan, thank you very much. while some looking at short-term brexit trades right now, our finance editor also the author of new book "30-minute millionaire," jeff cox is looking at how people play brexit for the long term. i have to hear this. >> everybody's talking about the trading the post-brexit atmosphere. i've been talking to guys in it for the long haul and basically three themes emerge. number one, is go small. a lot of folks are looking for small caps to lead us out of
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this. basically, as much as anything as a value play which is a real recuring theme, looking for value. >> domestic? >> not exporting? >> pretty much and a strong dollar play, too. with companies that do more of the business on shore here in the u.s. will benefit of a stronger dollar. >> got it. >> second thing is just worried about following the crowd and by that we mean everyone's trying to sell the cyclicals, the industrial stocks. if the economy will get better, those are the stocks to do well. three sectors in particular, energy, industrials and i know this is kind of counter intuitive and financials i'm hearing, especially as a value play that's just, again, a counter intuitive move that the banks -- >> u.s. financials, not european financials. >> correct. european financials, stay far awe. >> deep value. >> absolutely. and the third theme is cash is king. you should have been raising cash in this post-february rally that we had after we hit the february lows.
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if you have cash now, play it judicio judiciously. a company a great company before brexit is a great company after brexit happened. look for bargains but be very patient. don't try to chase anything here. >> we have a joke around here. i'm pounding table on the utilities because everybody thinks they're so boring. don't want do go there. but they continue to lead the market whenever things are defensive. >> boring is good. >> right? >> like buying a bond. if you want to buy a utility, same thing. looking for dividends, trying to buy a bond. if we see some type of counter strength, once the market is over there and i think the market will get over it. risk is going to come back into fashion and i think the safe plays might not be the best place to put your money. >> all right. good stuff. thank you. >> thank you. back to sue herrera for the latest out of turkey. >> we are getting comments of
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officials. they're not named but they're apparently turk irk officials saying that the suspects, two suspects, detonated explosives before passing through the x-ray security check. according to a turkish official. these are pictures that are coming in to us from the turkish media there. then we had the reports, bill and becky, of gun fire. well, this official is saying that police fired shots to neutralize the suspects at the international terminal entry point of the ataturk airport. new developments is apparently two suspects who blew themselves up, suicide bombers, before the x-ray security point and then police returned fire and neutralized the suspects according to the official. delta, right now we know that the airport is shut down understandably so, of course. and we have no claim of responsibility yet. we are watching for that.
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nbc's foreign desk is working the story. and we have a producer working the story, as well, normally based in turkey and in the uk and making calls to people that he knows on the ground at the airport. we should note that the person that this producer called is a contractor at the airport. we don't have a number in terms of wounded. we are going with a number of people wounded, dozens. there are conflicting reports as to how many people have been hurt in this particular incident. but we know from a turkish official two suicide bombers blowing themselves up before the security check point, the x-ray security check point and police returned fire. back to you. >> sue, still on the early going and hard not to notice the comparisons with the brussels attack, two. >> absolutely. >> before security like that. >> absolutely. and it is a soft target, of course. many americans might not think of it as a soft target with security at airports but, once
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again, the security checkpoints are inside and you have to go -- i've been in that airport. that's the reason i know it. you walk into the airport. and then, you walk a little bit further before you get to the security check point. there's usually a long line at that particular airport because it's serving not only domestic travel but international travel. it's a very busy airport and as a result, it is a soft target and number of people have been hurt. back to you guys. >> all right. thank you very much. see you later. folks, we still have just about 8:30 left to go before the closing bell today and watching the markets. higher through the session. to check it out right now, the dow up by about 246, the high of the session. s&p futures up by 33. nasdaq up by about 2%. >> art signaled the market on close orders pa s peared off. we'll be back after this. stuff,
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heading into the close. joining me is robert frost, co-founder of frost & frost wealth management. i don't envy you guys putting money to work for your compliants right now.
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i imagine the phone is ringing off the hook right now, too? >> yeah. the phones have been more quiet than i expected. we have been really been proactive communicating with the clients trying to let them know our thoughts on this. >> what is that? >> i think it's stay the course if you're a long-term investor, that's the rule number one. i think the second is to expect more volatility going forward. we don't necessarily think especially after what happened today is it's over. >> before the brexit vote we started to hear money managers coming through here starting to look at europe as a better value play than the united states. >> i was looking at numbers today and sure does look cheap. france, their adjusted earnings trading at 12 times. average is 20. italy's trading at eight times. the average is 20. spin's seven times. the average is 17. you can make a very strong argue. right now that europe's very cheap. >> but do you buy it yet? very quickly. >> i think if you're a long-term investor, you do buy. a short-term investor, i think
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you want to wait for more volatility. >> which i guess is guaranteed at this point. >> for sure. >> yeah. good to see you. >> thank you, bill. >> robert frost. we'll come back with the closing countdown in a moment with the dow up 263.
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all right. 90 seconds left heading toward the close. turnaround tuesday. but just for fun, let's look at the last three trading sessions
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for the dow and put this bounce into perspective. after the selloff on friday. and on monday. and now where we are today. not bad. up 1.5%. we have been seeing the vix lose altitude for a couple of sessions after being around 26. a level we last saw in february and august of last year. and we have nike earnings coming out little bit. we'll see how they did for that sector struggling here a little bit, bob pisani. >> the important thing is we have very good volume today. on a heavy side. bordering right there. very good. remember, markets up. you want to see buying interest in the form of volume. that indicates people trying to look for bargains. volume flat, i would say not a great sign for the markets overall. also the vix there. we're almost back to where the vix was on -- well, on thursday. >> right. >> remember? a complete round trip indicating
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that traders at least short term don't think volatility is that high. >> that's good. going out with that gain of 260 points. quanex at the new york stock exchange ringing the bell. get ready for the nike earnings and the latest of turkey. stay tuned. welcome to "the closing bell." i'm becky quick in for becky evans. look at how we're finishing on wall street. best day in four months for major averages. see the dow industrials picked up steam at the end of the session cloezing at the session highs. that's a gain over 1.5%. s&p closing up by 35 for a gain of 1.7% and the best percentage gainer is nasdanasdaq. we have nike earnings, they're
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due out at 4:15. the dow component athletic wear maker derives 20% of the revenue of europe and brexit could have a big impact on the bottom line. meantime, joining us is cnbc senior markets commentator and columnist mike santoli and former economist of pimco and fast money trader guy adami. mike, starting with you. we saw steam building up as we headed into the close. put it in perspective, not a huge move given the last few days of declines and the end you had a solid close. >> no. especially the last hour it really sort of added to the credentials of this bounce i think. we have regained one third of what was lost in terms of s&p in two days and the market responded to very oversold conditions in the short term. i don't think it's a matter of investors seeing single stock bargains. it was basically saying, look,
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the market down 5% in two days. not that much changed in terms of corporate picture. you have stocks yielding more than treasuries and maybe overdone in the short term. it is not usually a one-day event to have the smoke clear after you have had that kind of shock of last week. >> indeed. ironman, how do you assess this bounce for today at least? do you see more coming or what do you see today? >> it's interesting. nice to be with you and becky quick. >> i know. >> unbelievable. >> a unicorn on the trading floor today. >> fan -- i won't say it but i'm with becky tomorrow morning on her show tomorrowing morning. >> excellent! >> not in ten years and then twice. with that said, given the bounce we had in the s&p today, one would have thought incorrectly that the bond market sold off. it didn't. you have yields pushing lower and lower. on the encouraging side, you're talking about an explosion in istanbul that i know snog about and saying this.
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after a day of the market up big and sell first, ask questions later into an event like that. seemingly shrugged it off and talking to pete about that exact thing. so it's an impressive day. we'll see what happens rest of the week. let me say this quickly. thursday is month end. 2025 was low back in may. that's sort of a battleground over the next couple of days. i wouldn't be surprised if we didn't see the market go back and forth and see how it closes on thursday. >> mr. mcculley, brexit vote was a surprise to the markets. how do you feel about the general theme of the markets given this latest news jolt? >> given the fact that i'm retired from actively managing other people's money i don't have to explain or forecast every tick in the marketplace i find this whole issue of brexit to be profoundly important and fascinating to analyze as an analyst and also as a teacher,
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and i think it's going to have very long lasting consequences. and i don't think we can take too much from any given day right now because i think it's a perfect example of the difference between risk and uncertainty. markets handle risk pretty well. but we generally have uncertainty right now of what the map of europe looks like. it's like all of a sudden a card dealer says it's not 52 cards anymore. and you don't know how many cards in the deck. you really just pull back from the game and until you get a new sense of rhythm how to play with 53 or 52 or 27 versus 28. >> yeah. i know. paul, you do healthy there. that's -- in retirement. good to see you, my friend. let's get back to sue herrera with the latest out of turkey. sue? >> we have new developments. and turkish official saying and this turkish justice minister is
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saying ten people have been killed in the attack. he's naming as many as 40 wounded. nbc news has not confirmed that particular number. but the justice minister is saying ten people have been killed. two blasts. suicide bombers who blew themselves up before they hit the security check point. in istanbul, you have a check point when you come in to the airport. a little bit after you come in through the doors. and then you have another security checkpoint at the departure gate. they blew themselves up before reportedly before that first checkpoint. so that's what we know so far. these pictures coming to us from trt world. a turkish news media outlet. it's the ataturk airport in the heart of istanbul. domestic and international travel there. flight aware tells cnbc no u.s. airlines service that particular airport. however, a number of european
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airlines do. and turkish air has service between the u.s. and turkey. so, right now, we have justice minister saying ten people have been killed. he says 40 injured. we are working to confirm that particular number. the attackers detonated before entering the checkpoint. richard engel earlier said he talked to an eyewitness who reported three blasts. but the turkish justice minister citing two blasts. so that's what we're going to go with at this point. becky, still working the story. i'll turn it back to you. >> sue, thank you. again, sue herrera. reaction now from stephen cook from the council on foreign relations and joins us right now on the phone. steven, obviously still very early but what can you tell us about what you have heard so far? >> well, it seems two things are clear. one, turkish security worked
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pretty well as your lead-in suggested that these bombers were forced to take action before they got through the initial screening. and which would mean before they got into the departure hall so as many casualties as there are, might have been many more if they got into the actual arrivals hall like in brussels. the second thing is it strikes me as like brussels to be something that's inspired by or linked to the islamic state. the turks are, of course, battling the pkk, kurdistan workers party and an offshoot and attacked turkey in the course of the last year and has the hallmarks of an islamic state attack. >> why there? why today do you think? >> it's unclear why today. of course. but i think airports have become yet again targets of terrorists.
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even as hardened as the istanbul airport is, this is the main airport like jfk in new york. significant amount of security. attacking airports has an important psychological and economic impact on both the targeted country as well as those who might visit it. it makes sense for them, it makes sense for them to do it. it's i think we are living in a new era where airports are increasingly going to have to become more and more secure. this is something that could happen virtually anyone. >> right. guy, as you said, you know, we were discussing that on the floor here, as well. you really didn't see a market response. this time around where you might have otherwise. i mean, there's a lot going on for the markets to digest right now. >> no. it is impressive, right? obviously all the uncertainty of brexit, you have an s&p that rallied.
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one would have thought given the backdrop discussed, gibb the event, you would have seen it give back half the gains and the s&p, i think from sort of 2034 down to 2027 and now you see how it closed on a highs. rather impressive. as the news flow gets out, we'll see how the market reacts. the market is still extraordinarily skittish. what you saw today is people taking advantage of what, you know, the put positions they had on and the short positions they had on and then they don't want to be burned again. you try to play it from the short side to see the market making all-time highs and what you saw today, as well. >> mike santoli? >> yeah. you saw the hesitation. calculation to the extent of people making the calculation and not the trading systems themselves, looking at the med li headlines, a broader comprehensive attack?
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unfortunately, the market has calluses built up. >> steven cook, just in terms of what this means, how the globe reacts to it, have we heard from the eu? anything yet from the u.s. 0 authorities that give you any insight into this? >> i think it's way too early to hear anything from the european union or from washington. i'm sure washington's basically in touch with their turkish counterparts to assess what might have happened and not much more information than we do. but one thing. i think that this is part of a series of attacks looking at turkey over the course of the last eight, nine, ten months. and it's going -- it's had and will have profound impact on the turkish economy. especially the tourist sector. >> right. >> so this is -- there are consequences to this to continue to feel. >> we were just reminded here on the trading floor that israel and turkey normalized their
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relations, diplomatic relations today. benjamin netanyahu praising that and may be a connection to that and we haven't heard anybody taking credit for this latest attack. steven cook, thank you for joining us right now. >> thank you. all right. other things going on right now. we had uk prime minister david cameron in brusz sells today as the fear of britain's exit continues and with many moving parts. our will fred frost is there and joins us. a tense meeting there today. >> reporter: absolutely. the meeting is still going on, the first time all 28 gathered since the historic vote last week and david cameron's final appearance in the eu summit, here to soothe some of the wounds that have opened in recent days but i have to say the man that grabbed the limelight was a different uk
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politician. uk independence party nigel farage and pushed him if he feels responsible on the fall in prices. it seemed to ruffle his feather. the big share in fall prices is a scare that people of britain facing at the moment. >> please, can we end this complete rubbish. ftse up 3%. >> yeah, but fallen before this. >> it's 12% up from february. could we all grow up? stop this absolute scare mongering nonsense? >> reporter: so he tried to deny that area. i also asked him whether his own extraordinary victory in the brexit vote had implications for whether donald trump could win the u.s. presidential election. >> it's going to be, you know, a fascinating electoral contest in america. i sense he may well win it because he may get people voting and haven't voted for years.
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>> reporter: so, that was nigel farage and maybe secretary clinton needs to be worried about the gaps in the polls she's seen recently. back to you. >> all right. as always, a great job. thank you. wilfred frost there. there's a disconnect on the impact on the uk economy. what is your read on this as they begin the process, the long process, of disengaging themselves from this trade pact, this trade group? >> in the short run, i think it's got to be negative because it will chill economic activity. in the longer run, i'm not convinced that it is necessarily a negative at all. remember, the most important thing about the uk is they retained monetary sovereignty as part of the eu so it's different than everybody else who actually has the euro. they have their own currency.
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they borrow in the own currency. they have independent monetary and fiscal currency and the currency gone down and adjustment process will be tumultuous but i don't necessarily think it's a bad future for the uk as a result of this. it's unlike a case, you know, italy did it, they don't have their own currency. where the uk does and i think that's the most critical thing that people need to remember is they were very spatial status within the eu and they will have an adjustment process but they don't have to go back to the drawing board because they have their own monetary policy. >> really quickly, we had a guest on earlier suggesting that the united states economy isn't impacted by this at all. do you think that's the case? >> i mean, i think there will be some negative impact in the short run because an increase in uncertainty leads business people to say i will pull back a bit on investment so i think there's a negative probably in the short run.
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not so much from direct trade but from animal spirits if you will. but i don't think it's going to have a profound effect on the united states economy unless the dollar were to absolutely soar and then i'd have to do another assessment on that. but we're not an island. here. so we will be influenced but i think looking at the stock market reaction, the last couple of days until today is not a good indicator of the implications for the united states economy. >> guy, do you see any opportunities in either the uk or the continent yet? >> just -- there is opportunities every day but i'm not trying to skirt your question and to get to what this all means almost by definition of a slowdown of europe. collectively, i think the economy as large as the united states. maybe i'm wrong and not. it's pretty close. everything's going to get ratcheted down there and does have an effect. in my opinion, a profound
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effect. you have to wonder, china's been trying to play nice in the sand box for quite sometime. they see the sterling going from 150 to 133. devaluing that currency you can argue as to why it happened but it happened. one has to wonder, are they on the precipice of something massive there? what is the right multiple in the global environment for an s&p that may earn, i emphasize may earn, $120 or so a share? i would submit probably 16. ov other people would say higher. that's the equation. >> all right. very good, guys. everybody, paul, don't be a stranger. good to see you again. thank you for joining us. guy, see you and the rest of the crew coming up in a little bit. >> thank you, bill! thanks, beck! >> guys talking to a top hedge fund manager saying the brex it is a perfect opportunity for tech.
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that's at 5:00 p.m. eastern time. right here, investors are about to get a big read on the consumer economy. nike earnings due out any minute now and whether the dow component's results reverse the stock's 15% slide so far this year. carnival cruise shares rallying after lower costs and higher ticket prices helped them beat the wall street earnings estimates. will the brexit have an impact on the cruise line's operating going forward? the ceo joins us exclulsively coming up. you pay your car insurance premium like clockwork. month after month. year after year. then one night, you hydroplane into a ditch. yeah... surprise... your insurance company tells you to pay up again. why pay for insurance if you have to pay even more for using it? if you have liberty mutual deductible fund™, you could pay no deductible at all. sign up to immediately lower your deductible by $100.
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earnings of nike just out. courtney reagan has the read. >> a miss for revenues. slight miss at 8.24 billion. the street looking for 8.277 billion. also north america was actually a bit of a problem here. gross margin took a hit because of partially the clearance of excess inventory in north america. revenues, though, also light in the key north america region. 10% light in western europe the. central europe light.
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china a little bit above japan, above in line. we were expecting a bit of a mixed quarter. this is about what we got. shares are lower after hours by about 6% for nike. >> all right. courtney, thank you. that's a dow component down over 5% right now. let's get reaction with lindsay bell and mike santoli. lindsay, that's swift relax of the market. a decline of that much after the twaen beat expectations on the expectations. >> these guys usually beat on the bottom line. they have in the last 15 quarters and last two quarters they missed on the top line and not that big of a surprise i don't think and sentiment low going into this. the stock's down 16% year to dart so far and you kind of hoping to get at least a little pop today i think so -- >> this is a troubled category. >> absolutely has, bill. so if you look at it against underarmour, they traded closely
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together and not if the market is saying this is a market share gain. the category on the defensive right now. nike, a premium valued stock. a high growth pe and the market backing away from the global consumer brand. basketball shoes in particular have not been strong as a category. so it's a question of whether they work through this soft patch in the business. >> i think the key is really forward guidance for 2017. they really need to reconfirm what they said, top line growth in the low or the mid high single digits to low double digits. bottom line in the low teens growth sigh is that an easy thing to do right now with all the turmoil that the world's been facing? things thrown our way recently. >> i'm sure most management teams here to take a hedge and bring down guidance a little bit for their own protection for sure. >> i mean -- >> a lot of exposure to europe, too. not just by way of currency translation and because that's a big end market that hay sell
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into. not to say it's all gloom and doom and seems as if they're facing a new hurdles that they have to prove they get past. >> i know we all know what we've been hearing right now but were there specific areas you were looking for in terms of where the softness might be for when company and the problems they may face going forward sneer. >> the biggest point we wanted to look is future orders and mike told me ex-currency up 11% where i think the street was expecting and needed to get the revenue line expectation for 2017 growth. so that -- we want to hear what they say on china and how that could offset any weakness out of europe and we expect china to still be strong in the future because even though the luxury good market there is decelerating, nike is doing well and taking share. >> and the rio olympics are a question market right now, aren't they? >> yes. exactly. the stock doesn't so well in the
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quarter going into a major sporting event like the olympics or the euro cup or things like that. >> the other element to talk about facing the whole industry is sports authority. >> right? >> an amount of destock inventory and price pressures. a lot of things to do. >> right away under armour suffering and the sports authority was a huge part of their market but that helps dick's sporting goods i guess. >> up today on an upgrade and not as if people buy other things and promotional environment because of that one thing. >> all right. got to go. thank you for stopping by. >> thank you. >> lindsey bell. we have more to talk about. carnival beat wall street earnings expectations and the outlook fell short of exec tass. arnold donald will tell us how that has to do with the brexit fallo fallout. and whether the fallout of
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turkey will force them to change their itinerary in that country. comments of loretta lynch awaiting a brief on the blast at the airport in istanbul. headlines continue to come in. ♪ approaching medicare eligibility? you may think you can put off checking out your medicare options until you're sixty-five, but now is a good time to get the ball rolling. keep in mind, medicare only covers about eighty percent
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2016 earnings guidance. below wall street estimates. how much of that has to do with brexit? we welcome back carnival corporation ceo arnold donald joining us. good to see you again. welcome back. >> good afternoon. >> let me ask you first about a response to breaking news, those explosions at the istanbul airport. you have ports there. do you alter courses, future cruises, right now is what do you typically do after an event like this? >> we always get an assessment from the authorities in place, as well as other international security and, you know, services. and then we'll make our decisions based on that. we have a number of different brands and different lines that frequent istanbul. and we'll be looking at the data and doing the right thing for our gusts and safety for our guests is priority and we take care of that. >> is the world a less safe place? we have heard about a lot of
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different attacks that have happened just in the last year. >> well, you know, every year for the last several years there have been a number of issues from boston to sydney to paris to brussels and it's happened all over the world and for a number of years. normally what happens for us depending on where it is we'll see a source market of guests wanting to avoid a place for a short period of time. but usually they recover quickly. we'll see what happens in this case. i don't have the information to know exactly what's going on in istanbul right now. >> we're trying to analyze brexit. i'm curious. have you figured it out for you guys and business? the currency translations. the trade issues that are going to face europe and the uk going forward. what does it mean for your business do you think? >> well, for our business, the immediate impact, of course, is the currency, and that was reflected in our guidance going forward for the full year.
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we were able to maintain the midpoint of our guidance that we're given in march despite a 17-cent drag from currency and rising fuel prices for the full year so that means we were able to make that up largely through improved performance and with brexit right now, the currency to pay attention to. on the other hand, looking at the uk source business, for us, we price with our p & o brand. the ticket prices are in british sterling as well as for p & o on and board and for uk residents who take advantage of the p & o cruise opportunity, you know, the currency situation for them is in the local currency. similarly, the impact on the rest of the european union, whatever happens with that, for our european base brand, the denomination is typically the euro and again the individuals traveling will probably be largely unaffected. frl us as a company, we have
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lots of natural hedges. currencies go up, down. our mission to deliver return on capital. that's what we're focused on. we were accelerating towards that. business is stronger and we as indicated in the call our prices are up. our booking curves are further out. things are looking pretty bright. >> i was going to ask for your analysis of u.s. consumer core demand. should be in good shape. but the market is showing some concerns about a lot of the consumer linked stocks out there including yours perhaps. are you -- are you finding it's promotional? more of a value proposition? how's ordering, booking trends look? >> prices are higher. the bookings are strong. on-board revenues have grown every year in the history of the company except for one back in 2009ment so that's against all kinds of different economic environments and what have you.
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for us, the key for the cruise industry is important to realize is that we're largely underpenetrated. we have limited ability to expand very fast. we have a huge base of people who love to cruise and so the opportunity is always there for improvement. we're a much greater vacation value and, of course, we're a great vacation experience. so when you combine all that, the opportunity for us to continue to grow in lots of different environments is demonstrated over time and expect it to continue in the future. >> good to see you again. thank you for your time joining us today. >> thank you. be safe. >> arnold donald, ceo of carnival corporation. now back to sue herrera with the latest out of turkey. >> thank you, bill. two suicide bombers blew themselves up inside turkey's ataturk international airport just before they hit the first of many security checkpoints. it was at the international
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arrivals terminal and it's came just about the time that some planes were landing from either europe or canada or possibly the united states. on turkish airlines. the suspects were then neutralized reportedly. still trying to confirm this. by police. there have been ten confirmed dead by the turkish justice minister, about 20 wounded in the istanbul airport attack. right now, according to airport officials, those planes that are in the air will be allowed to land at ataturk airport. they have not determined exactly which morning flights will be canceled after the blast. keep in mind, there are two airports in turkey. ataturk airport is on the european side. turkey is divided. part of it is in asia. part of it is in europe. it is the bridge basically between asia and europe. the ataturk international airport is in the european side. they may be able to divert some of those flights to the other
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newer and slightly larger airport which is on the asian side of things. we do know according to the turkish justice minister that ten people are dead. about 20 wounded. u.s. attorney general lynch is awaiting a briefing on the situation and when she gets some comments to us, we'll get them to you. becky, back over to you. >> all right. sue, thank you again. sue herrera. when we come back, he is the former mayor of london and a key leader of the brexit movement. he could be the next british prime minister. tina brown explains why she thinks british voters should be wary of boris. we'll be right back.
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welcome back. a bounce and pretty good one in terms of volume, as well. when all was said and done, the dow up 1.5%. the s&p up 35, back to 2036. bouncing off the 200-day moving average. nasdaq was the lead tore the upside today, a gain of more than 2%. the question, of course, is, can it continue? that's for tomorrow.
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becky? the question for today continues to be all surrounding the future of the uk. at the top of the agenda in britain is who's going to succeed david cameron as prime minister. one leading candidate is boris johnson. our next guest calls him a cunning clown. >> yeah. she joins us now. former colleague still a friend, though. tina brown, founder of tina brown in the world. have you begun to process last thursday's vote? >> it is staggering. a lot of focused on the markets. i had din we are a leading international bank ceo a week or so before and said it couldn't happen because the markets would go wild. >> right? >> when they went wild, have to be another referendum. everyone focused on the economics. what i think we weren't as focused on is what the political fallout was going to be which is just been a pandora's box that the lid is open and look what's happened. the prime minister quits. scotland's talking about
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deinvolving again. you know, the labor party leader is a vote of no confidence. epic. disarray everywhere you turn and people are just wild. i mean, you know, as a brit, you know, born, my e-mail box and my twitter feed and my, you know, texting is like it's just insane. people are going out of their minds right now. >> tina, let's talk about boris johnson because he was one of the leading campaigners for the leave campaign. he's certainly being looked at a top contender for prime minister. you have a long history with us. maybe you can tell us the story about how you got to know him. he was a boyfriend of a girlfriend of yours. >> he was an undergraduate student at oxford university. i had gone to oxford as a major social scandal and the daughter of a guiness family, the brewing dynasty, died a drug overdose in a german count's room and the whole of the british tabloids
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went crazy about decadent youth. interesting story an i had lots to say about. went to oxford to report on it for "vanity fair." had a young researcher and knew all the deceased friends. she put together a group of students for me to meet and could not attend herself. one of the students was a mop haired blond guy and turned out to be a young man of boris johnson. we had an interesting lunch with all these students. imagine my amazement when a week later comes out a piece, a really rude and horrible piece about me signed by the girl who had been my researcher. >> who wasn't there. >> okay? then discovered that she was the girlfriend of the mop haired fellow, boris johnson. boris johnson had written this piece making up all the quotes. and then signed it with her name. and it was just a bunch of lies that i just -- >> you're no fan of him. >> why would he do that? >> do you think he has a shot as being the prime minister? >> i'm afraid i do.
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yes, i think he does have a shot. you know, the thing about boris is he is a cleaver guy. definitely has a ltd. of charm and we know he's a great campaigner but he is completely unserious and he's a fraud. i don't even think that boris johnson really thought for one minute that he was going to win. i really don't. this was for him politics and tilting at windmills, losing enhancing the credit with the right wing of his party and looks chagrinned the day after and no plan now. >> there's a sense that was perhaps not unique to boris johnson. that, in fact, the leader -- >> conceded, right? >> however, this stance seems to have resonated with a large percentage of people in the uk who voted for this. were they misled? dilluted? >> i think they were terribly misled. the leaders of the campaign,
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boris farage and others kept teling them that the big bunch of money to the eu could be diverted to the national health service and kind of like cut off the flow of immigrants and wasn't true also. there's two big fallacies and i also think what you are also seeing is, you know, six years of austerity in the uk and remain campaign of the establishment and every time they kept wheeling out a ceo like branson or beck ham, it was another rich celebrity guy to do with zero of how they were living. we don't want to hear from you. you live in virgin islands anyway. >> do you see political pa are lels here in the united states? >> i do, i do. i think some of the anger and pain and it is true, you know? a lot of voters in england, very similar to here, yes. i think a sense of being left out, left behind. the economy isn't for them. the elites aren't hearing them. definitely is an echo and
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hillary clinton should be aware of becoming the remain campaign. >> a leader that doesn't want the job? >> absolutely. >> yeah. parallels once again. tina, always good to see you. thank you for stopping by. >> thank you. up next, we are going to get the latest on the deadly attack at istanbul's airport and monitoring that. we'll be back in just a moment. life insurance automobile insurance i spent 20 years active duty they still refer to me as "gunnery sergeant" when i call being a usaa member because of my service in the military to pass that on to my kids something that makes me happy my name is roger zapata and i'm a usaa member for life. usaa. we know what it means to serve. get an insurance quote and see why 92% of our members plan to stay for life.
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breaking news out of istanbul, ten are reported dead
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after two blasts at major airport there. >> joining igt rye now is former fbi profiler clint van zandt. i know it's early but the reports suggest this is very similar to the attack in brussels that was carried out by isis. what do you think so far? >> well, that's what we're hearing as you suggest. that's a lot of information. we don't know what's true yet. we have some suggesting either one or two suicide bombers. obviously, one for sure with a kalashnikov rifle. perhaps using grenades and a suicide vest and key notwithstanding one or two is how it was carried out. in essence, it was done between the parking lot and between the area where you really start to check security. what some might refer to as the soft underbelly of airports. it looks like this may be the new targeting which is going to cause security officials to start to push that security
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cordon further and further away from the airport itself. >> you know, nobody's taken credit for this yet but we were reminded a little while ago that this is the day that israel and turkey normalized their diplomatic relations one again. you wonder what whether that has something to do with that, as well. >> well, you know, holidays or special events, whatever it is, on a calendar always means something to some groups. we're also reminded that it's been two years to the date since the establishment of the caliphate by isis, so there are a number of dates on the calendar that may be specific and this is, of course, what terrorism experts are looking for. what is the significance of this date as they try to figure out is this a kurdish militia group? isis or someone else? to this moment we don't know of anyone claiming credit.
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>> clint, you see attacks on soft targets like this, it raises all kinds of concerns. obviously, much tougher to protect these types of targets and leads us back to wondering how safe we are in this country. >> well, it does. of course, this is the -- one of the i think the 20th busiest airport in the entire world. and, again, there are groups watching. whether it be isis or some other group that are sitting watching how this was carried out. you and i and others going through u.s. and international airports, we know once we get inside that airport there are bomb dogs, there are security officers, we have to go through met call detectors and, yet, this is one step removed from that. so are the authorities going to have to keep making the bull's eye itself, of course, airliners or once you get through the
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magnometers and pushing out people and luggage as isis and other groups watch, look how this was carried out? of course, make plans against other airports in the world. >> right. former fbi profiler, the great clint van zandt, thank you for your thoughts. >> thank you. up next here on "the closing bell," former baseball star details his dramatic life both on and off the field. we'll be back in just a moment. ♪
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if you're just joining us, wall street after two big down days following the brexit vote ch the dow up 269 points today. the s&p was up 35.
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nasdaq, the standout among the three major averages with a gain of more than 2%. nike came out with earnings within the last hour. beat on the bottom line. not on the top line and the stock is suffering as a result. sfwl yeah, some people raised concerns about the north american margins for those. the stock actually taking a look now, you see that's a dow component down by 6.8% and mike, you pointed out it just raises all kinds of concerns. >> it's still 25 times the coming year's earnings. the trades at a premium valuation and i think when you have a lot of these issue, people don't feel like they're going to be resolved immediately. just kobt do it. no wrong from the best performers in the dow. i think you go through these phases, that process probably isn't done. >> one of the things we've been trying to fig yur out. you saw the dow u dow down by 26 points yesterday. down by over 600 points on
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friday. add those up and it gets you back to where we were just a few months ago. >> we've been stuck in this range for such a long time, we just basically took 1,000 points almost off the dow in a couple of days. got back almost a third of it. nothing has necessarily changed about the market environment. we've been teetering on the verge of a market and something maybe worse. i don't think that changes. one thing to keep in mind, if you were going to rotate back into stocks, it's going to happen today. that could have been some of the buying before the quarter end in a couple of days. >> bob was pointing out we have the end of the quarter coming up later this week and what kind of pressures does that add to the trading? >> i think it gets everybody focused on individual levels. i don't know that it's going to drive the action if here. one interesting thing, if you look at the playbook of big down fridays, what happens next, follow through downside on monday. cash is on friday. then a big bounce on tuesday. stabilize a little bit and go sideways.
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>> worked out. >> happening at 11:00 a.m. this morning. >> i agree. >> all right, we are pleased our next guest is with us now. >> he is. in fact, our guest is legendary baseball player who helped the mets play a world series back in 986. his kai kier ruz filled with a lot of low points and high points, too. he talks openly about some of those issues in a new book he has out. talks about drug use, steroid use and everything that went through. take a look at the book. >> lenny dykstra ijoins us now, the book, house of nails. that was your nickname all those years ago. why now? >> you guys brought me on the show, i love it. >> we're glad you're here, but you're ready to tell your story now. >> i told it and i told it in a big way. it was time to tell the whole story about from the beginning to the end and you know, i
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basically pointed the flag at mt. everest and sunk in the depths of death valley. >> do you blame the culture of baseball? steroids were not illegal when you were using them. were they looking the other direction? do you blame them for your use? >> i don't blame them. this is all about money. when money's involved, it makes people do things think wouldn't normally do, so when we're talkinging about making $30 million as opposed to getting a real job making 60,000 and the guy next to you is going to take them, if you're not, you're stupid. they're out. >> and they should be? >> yeah. of course. but again, that's a whole other issue about the hall of fame. it's funny that i'm on here because every talk show, everything education september my boy, cramer. cramer is a big advocate for me. i worked for him. and at the time that i wrote and
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he spoke, i was 110-0 on the money call u newsletter and i'm now 575-1. i mean, no. what i'm saying is like neil's investment is still going. been going for nine years, but yet cramer takes the heat for making, kind of a big call by him. 110-0. >> were they real results? >> i hope so. better be real. real as real gets. people don't want to hear the real, so i got to fight for cramer on that one. >> got it. >> and everybody's going to want to read the book, too, to read about what you have to say. >> good to be here. last time i was here, i was actually buying stocks. >> all right. well, maybe you will this time as well. >> actually -- >> new book is called house of nails. we'll have breaks news on hon
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honeywell when we come back after this. at both erectile dysfunction and the urinary symptoms of bph, like needing to go frequently, day or night. tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex do not take cialis if you take nitrates for chest pain, or adempas for pulmonary hypertension, as it may cause an unsafe drop in blood pressure. do not drink alcohol in excess. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term injury, get medical help right away for an erection lasting more than four hours. if you have any sudden decrease or loss in hearing or vision, or any symptoms of an allergic reaction, stop taking cialis and get medical help right away. ask your doctor about cialis and a $200 savings card
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update on honeywell's management team. there is adam will succeed david cody as ceo. adam check is the current chief
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operating officer and will take over as ceo in march, to 20 17. the stock is up about 240%. after hours not moving too much. back to you. >> thank you. well, that's it for us. >> that is. thank you for being here. great to be here with you today. >> tune in tonight, 7:00 p.m. eastern time, a cnbc special report on the market's wild ride. in the meantime, that does it for closing bell. "fast money" begins now. "fast money" does start now. live from the nasdaq markets, new york city, times square. traders are -- tonight, a story of the after hour's session. nike shares are tanking. what will the company say about the global economy? courtney reagan is on the call and kairy na freeman is monitoring that from the set. plus, the market is doing something it's only done three times since 2000. and

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