steve weiss makes more moves in his portfolio. we get you those names next and the reminder y couan watch and listen live on the go on the cnbc app we're back in two minutes. (vo) nobody dreams in conventional thinking. it didn't get us to the moon. it doesn't ring the bell on wall street. or disrupt the status quo. t-mobile for business uses unconventional thinking to help you realize new possibilities on america's largest, fastest, and most reliable 5g network. plus customer experience that finds solutions in the moment. and first-class benefits, like 5g with every plan. network, support and value-- without any tradeoffs. that's t-mobile for business. millions of vulnerable americans struggle to get reliable transportation to their medical appointments. that's why i started medhaul. citi launched the impact fund to invest in both women and entrepreneurs of color like me, so i can realize my vision and give everything i've got to my company, and my community. i got you. for the love of people. for the love of community. for the l

steve weiss, tom lee in a moment to talk about the everything rally. farmer jim is now mr. all-in, because yesterday he told us he is all in. and i wonder if weiss -- weiss is frozen. i thought maybe he was sleeping. it might be his nap time we have to the try and wake him up to get him back in the conversation so farmer jim, i guess you get it first today he is still sleeping mr. all-in are you up? >> well, it's hard to tell when steve is awake it's not that much different than when he is asleep but yes, i'm definitely all in >> i hope he can't hear this at the very least >> this is gold. i don't want to be blase okay the delta variant is something we have to pay attention to. we're going to talk about airlines in a second i don't want to steal the thunder. but clearly southwest is saying they're seeing an effect we can't ignore the delta variant. but at the same time you can't ignore the positives vaccine rates are picking up you've got infrastructure spending looking likely to come. and you know, if the delta variant is as concerning as maybe southwest is indicating, tha

jenny harrington steve weiss. steve weiss. jon najarian let's check the markets. nasdaq a new high. up five of the past six days we are talking about the new target for the s&p from david kostin however, more action from the committee on robinhood that we want to get to first now that options trading open for business pete opened for business yesterday. and you got some action on today. tell us. >> yeah, well i can tell you this the activity was unbelievably robust yesterday 325,000 contracts trading yesterday. obviously the stock, 172 million, well more than on the ipo closer to 100 million. a lot of very interesting activity coming in, scott. about 50/50 calls and puts but i think the most interesting part was the most active strike yesterday was the august 70s, now the august 70 calls traded $79,000 contracts alone yesterday. i've got done telling you 325,000 was the total. so you -- it gives you a little idea how busy this particular strike was they started low, early on in terms of the prices. that started to accelerate to the upside as the stock accelerated to the upside as we

. >> so, steve weiss, the red flags that we think we have, right, people talk about the ark funds and the pullback that we've seen over the last week. innovation's down 5% fintech down 4 genomic revolution is down 5 so that's one of the red flags that people point to cathie wood, who wasjust on tech check i hope everybody saw the interview, said, not so fast here's where she thinks we are let's listen we'll kick it around on the other side >> when i see such negative sentiment out there, especially when it comes to valuation and longer time horizons, investment time horizons, i actually feel a little more comfortable. i like bad news and maybe news that's not, the discounting is worse now than the news actually will be. i actually feel better in that kind of environment for our strategies i don't think we're in a bubble. >> steve weiss, you see a lot of ipos and spacs falling to earth. she said we couldn't be further from a bubble. she didn't seem too concerned about where the market is, so as we asked at the very top, are we overblowing these risks? >> well, cathie's great. got a lot

let me turn to you first, steve weiss, and get any thoughts you have about how what is going on in kabul affects the investment landscape, if at all >> tyler, good to have you back on the show. >> thank you >> i don't think it affects it at all we saw a knee-jerk reaction on new says of the first explosion. i think that would be typical. i can't tell you if it's the algos that read the news story that sold it down or worry any time you see geopolitical incidents t is always, and i repeat that, always a buying opportunity. this i would not put into that category because it just doesn't have any impact whatsoever on the markets. the human tragedy is, of course, another story. this just doesn't figure into thinking or figure into anybody else's we're out of there its a different part of the world. it's not affecting our commerce. not affecting our imports/exports, period. that's how i see it. >> rob, do you agree with what steve said, on the sage page with steve >> i'm on the same page. it is another thing to worry about. it's probably something you shouldn't worry about, to steve's point.

steve weiss, you have a lot to get through. so you sold buziks and julia i know a lot of people followed you into both and you've talked about them on several occasions. why did you sell them both >> right so i have been pretty clear these aren't stocks for this kind of market both because they're very highly -- valuation is very high in terms of multiple revenues. so i've been cutting back on my position substantially and it's left with a really small position and even though both companies are doing well, jumia in particular, vuzix has missed the last quarter but they'll make it up going forward they're small cap as well. small cap has done nothing since january and is rolling over. if you take out financials and energy it's really been an underperformer so that's why i did it i still have gains on these tag ends i was in a lot earlier as i mentioned. 350, roughly in vuzix and jumia about 13 and, look, like the companies, but you do two forms of analysis you analyze companies and stocks i like the companies i don't like the s

steve weiss, who says it's not all in time. i want not going to be an everything rally like some predict, steve >> yeah, well, look, you can call my foil i call me the voice of reason, outside the consensus thinker. that's how i like to think of it first of all we don't need strategist you got to be a real fool to say the market is not going up when it goes up 90% of the time how difficult a job is that? >> come on, now. i know you like to throw bombs around, feel better about yourself and all that. but come on. there's a difference between saying the market is going up and saying, well, i think the environment is pretty well set that between now and the end of the year you can have maybe a more substantial rally than some are thinking i think that's a fair way of characterizing the way that the tom lees of the world who have come on here and defended their positions on a regular basis can say things, without being all just bulled up >> first of all, i think you misunderstand my intentions. my intentions are to make you feel be

today we have short hills capital chief investment officer steve weiss with us as well. good afternoon to you, steve anything positive for either would be a report closing high nasdaq is up 0.2%. mike santoli, to you, first of all, do you think the marketis expecting these delta case to say roll over, if it got a glimpse of the possibility that wasn't a case, would we see a more meaningful correction >> i do think the market is working on the premise there's not going to be a big business or consumer spending impact. yes, travel-related stuff is suffering. it seem like there will be a softening up at the trends it's just a bit of a work from home, play at home type of flavor it seems as if the market is assuming within the next couple weeks, we may see a crest in this wave. in theory, if it really did accelerate, that might be a sort of downside risk, but it's not really lost that it bet when the economy was going to be able to persevere even in the face of these things. >> steve, what are you seeing in the market today energy down again, down more than a pertain, but we

for people - >> steve weiss has his leggings on, i know it's all about the pants for me. >> retail and the u.s. consumer, we have the ceo of nordstrom coming up on "closing bell" later on today so i'm sure we'll get some more insight aside from joe and steve wearing leggings from lululemon >>> coming up, war by parker files to go public that's coming up next. whether it's ensuring food arrives as fresh as when it departs. being first on the scene, when every second counts. or teaching biology without a lab. we are the leader in 5g. #1 in customer satisfaction. and a partner who includes 5g in every plan, so you get it all. without trade-offs. unconventional thinking. it's better for business. all the things, all around you... where you learn, work, and fly... we help make them healthier. we are the people of abm. for more than 100 years, we've been a leader in making spaces cleaner, from the things you touch to the air you breathe. today, more than 100,000 of us are innovating to ensure spaces are more efficient, healthier and safer. abm. making spaces healthier for you. ♪ ♪ i had

etf but i ask you the same question i asked steve weiss before we let him run. is today the day to buy more or to sell a little >> so i think the answer to that is, yes. first of all, this is unprecedented in terms of a trade distribution from a committee member in my opinion since i've been doing this show. it's unbelievable. but, scott, moderna was going to be added to the quality momentum index at the end of july on friday the 30thon the close it was added to the etf. i studied it because i think there's this massive misconception that moderna is one of these high-flying stocks similar to the ones in 2020 that we kind of associated whether it was a zoom video or peloton. it is not. this is a company that, yes, has positive momentum, but it has unbelievable fundamentals. strong revenue growth. strong return on equity. low debt to equity and they are buying back a billion dollars worth of shares over the next two years. so i just thinkthere's just dramatic misperception of what it is. and on a valuation basis, it's not that expensive basically trades at 50 time

jenny harrington steve weiss. steve weiss. jon najarian let's check the markets. nasdaq a new high. up five of the past six days we are talking about the new target for the s&p from david kostin however, more action from the committee on robinhood that we want to get to first now that options trading open for business pete opened for business yesterday. and you got some action on today. tells.

pick it up let us know who faxed in steve weiss, i'll say you're glass half empty but i'm not sure there's a glass because you think it is maybe not inevitable, but pretty close >> -- >> sounds like steve went to get the fax. >> just the facts. the fact is, steven, we can't hear you yet we'll get you back on. brenda, you're there as well do you think a correction is inevitable >> i don't think it's inevitable, but, you know, the market has been incredibly resilient more recently as we've seen, you know, companies that have very tough comparisons year over year. and we have an increase in geopolitical concerns. so there are some reasons to be cautious and certainly some reasons that could, you know, bubble up and cause some kind of correction but as joe alluded to, we have this incredibly strong fundamental backdrop right now, particularly with corporate earnings that really have just blown away expectations thus far. so what gives us some comfort is the fact that even though the stock market, the s&p, is up significantly this year, it's still trailing the overall pace of revisions, which i

we start there because steve weiss is playing in this sand box i was surprised to hear about this, steve. you bought it yesterday. you sold it. and then you bought it bac

weiss. but first, the s&p 500 hit new record tries, trying

. >> thank you steve weiss, what do you got >> ttec iota, they had a great quarter, great numbers who knows what happens in the future they've split the company. they've exalted, the fundamental is strong. i want to point out reports tonight and moderna tomorrow morning. >> thanks everybody. you as well. "the exchange" is now. >>> thanks scott i am jon fortt in for kelly evans and here's what's ahead on "the exchange. the nasdaq holding on to a small gain, but robinhood soars on the return of meme mania perhaps we'll talk to a five-star fund manager and is refusing to get the covid vaccine the new smoking. health services secretary is going to join us to discuss how insurers should handle the unvaccinated and doing the pandemic pivot we will talk to two different businesses who are evolving along a new normal we begin with the market action. >> thank you, jon. markets are reversing yesterday's gains when the s&p 500 closed at yet again another record high. the fed offering mixed messages about tapering, delta variants on the table along with a notable slowdown in june adp private payr

steve weiss, tom lee in a moment to talk about the everything rally. farmer jim is now mr. all-in, because yesterday he told us he is all in. and i wonder if weiss -- weiss is frozen. i thought maybhe

josh brown >> bristol-myers flirting with a new 52-week high, going higher >> steve weiss >> gxo analysts keep coming out they don't understand it but put buys on it this stock is the only stock like this trading in the market. logistics company. >> thank you "the exchange" is now. >>> and thank you, scott hi, everybody. i'm kelly evans. here's what's ahead this hour. new credit card spending data show even more of a slowdown than the retail sales report told us earlier this week. one portfolio manager said the consumer has never been healthier. he'll give his reopening pick that climbed 88% over the past year >>> plus, the march outage in crypto platform binance happened to coincide with a drop. we talk to the private equity firm bank rolling this lawsuit about what kind of precedent it could set. >>> and is the delta variant and new mask mandates in major cities bringing the rebound in restaurant visits to a screeching halt. we'll talk to the cfo of pf chang's about that >>> come take a walk with me as we check on markets this hour. you wouldn't know it was a big down day this morning.

jenny harrington, josh brown, steve weiss and jon najarian, the co-founder of market rebellion.com. good to see everybody today. let's check the markets. stocks are mixed the dow lower by let's call it 100 or so, thereabouts, s&p a from a fractional winner nasdaq higher than expected. inflation read higher than

joining me, bryn talkton, steve weiss and pete najarian. stocks are falling to start the week off the lows, though delta variant continues to spread our committee making all sorts of moves in their portfolios today. we're going to get

weiss would certainly not approve but boeing is my final trade. the airlines are coming back, traffic is pickingup frankly you just need new planes you do and there's only boeing and air bus. there's going to be more orders coming in. >> by the way, pete, your final trade? >> he will >> unique oil and gas company, a pennsylvania play. >> yeah, i'm going right in your backyard, man. i'm going to capital oil and gas. i think there's a lot of energy names that can work. i think this is one that can work in a hurry. >> operations entirely focused on the marcellus shale in the northeast corner of pennsylvania appreciate it all. thank you for watching "the halftime report. "the exchange" with kelly begins now. >>> thank you very much, brian and we'll see you in just a moment hi, everybody. here's what's ahead in the next hour as we make substantial further progress toward the weekend. the fed is ready to start tapering, but apart from taper talks today, he spent most of the time talking about how inflation will be transitory we'll dive into this paradox

. >> boeing certification flights in china >> steve weiss >> moderna of course >> of course joe t. >> best buy. >> all right good stuff thanks very much for watching. that does it for us. we'll give it to "the exchange" now. >>> thank you very much, scott and hi, everybody. welcome to "the exchange." and here's what's ahead this hour an exclusive interview with dallas fed president robert kaplan we'll speak to him about today's softer than expected cpi report. does it change his mind about the need to take sooner rather than later his thoughts plus we'll have instant reaction and it's not just home buying that's hot right now there are bidding wars for rentals. we'll bring you the sky-high numbers. plus coinbase, cathay and china. we're serving up all those in rapid-fire but first the markets this hour. record highs i think dom chu has the numbers. >> they are on fire. rapid-fire, those topics the markets are on fire right now. it's not a massive amount to the upside but as kelly pointed out we still do have gold stars for the dow industrials and the s&p 500. both of those stocks are