it could be amazon amazon has made a lot of enemies. there are a lot of complaints about they're blocking access to the marketplace, unfair picking of winners and losers when it comes to their marketplace. >> okay. >> day of the week it's what's been tweeted lately and which politician wants to pick on whom. >> we have to leave the conversation there it will continue though. thank you very much, guys. >>> still to come, the stagecoach is ready to roll. wells fargo results are next by the way, here are the futures right now. take a look at what's been happening after we've already heard from three dow components. dow futures picked up. we were in negative territory down by 25 points. this morning at 6:00 a.m we're indicated up by 35 points. s&p futures up by 2, the nasdaq up by 3 and "squawk box" will be back [ dogs barking ] what about him? let's do it. [ sniffing ] come on. this summer, add a new member to the family. hurry into the mercedes-benz summer event today for exceptional offers. lease the glc 300 suv for just $419 a month at

has amazon destroyed retail? the head of the online second quarter results, we will debate that very question stay tuned you are watching "squawk box" right here on -- cnbc these folks don't have time to go to the post office they use stamps.com all the services of the post office only cheaper get a 4-week trial plus postage and a digital scale go to stamps.com/tv and never go to the post office again. who used expedia to book the vacation rental that led to the ride ♪ which took them to the place where they discovered that sometimes a little down time can lift you right up. ♪ flights, hotels, cars, activities, vacation rentals. expedia. everything you need to go. >>> if you look at amazon, although there are benefits to it they've destroyed the retail industry across the united states there is no question they've limited competition. their areas where they've really hurt small businesses. >> that was secretary steven mnuchin right here on "squawk box" yesterday blaming amazon for the decline of american reta

amazon spent more on shipping to ramp up the amazon prime service. the first time in two years that the company has missed earnings expectations still, stock is only off by about 1.5% 19.44 is the last tick >>> google parent alphabet beating estimates on the top and bottom lines for the latest earnings report. that's giving the stock a big boost. it had continuing dominance of internet search and that stock is up by 8.2%. you heard what mark mahaney said here washington doesn't matter what comes into this. it's additional taxes they have to pay frankly, that's what the stock is reflecting. many of these stocks are reflecting that. they don't think -- >> the fine is now a tax >> where does it go though >> the money the tax? >> well, actually, i don't really know where taxes go either but the fines -- all these fines, where do they go? does it ever do any good >> they do a couple things they oftentimes pay for some of the enforcement action -- >> here's $5 billionto do an investigation -- >> if you have a department of justice, you have to pay these la

quickly, guy, your take a amazon >> the move to the downside i think was important. here we are right back to levels we saw again, joe will correctly say he's been doing the show for how many years, 47 years, and you've done really well we try to get to the ins and outs of trading. i think you stay into earnings and sell it again. i think you have another opportunity for another move toward the all-time high and you get out ahead of earnings on the 25th. >> my point before was do you think all of your participants on fast money have been sufficiently bullish and i do not think they've been sufficiently -- my only point was when i started the business is dow as 800 and it's now 27,000 so the way that these bears always stay in vogue when the market has gone from 800 to 27,000 -- i'm not saying they are, i'm saying in general it's much more el leks wael attractive to stay bearish and all you had to do was stay and you would be at 27,000 so your default position should be long stocks coming up, the dow crossing 27,000 >> be long, have a nice day. >> i'm not saying be lo

amazon has created this event. macy's played, nordstrom's played already, walmart and target will be huge players. all across the board, people say now i've got to have real product for july it can't just be clearance i'm going to compete i'm going to kick off back to school, and i'm going to do some business against amazon. everybody still loses market share to amazon at walmart and target because that's where the business goes, but everybody plays the game. >> is this new money that's being spent or are we just pulling forward money that would otherwise be spent >> are you always going to buy that go pro either way >> i was eventually going to -- i wanted to buy this go pro. right, if i'm the example, it's pulling it forward at a cheaper price. i would have probably gotten this go pro sometime in the fall, maybe for the holidays for the kids or whatever it is but now the go pro's on sale, and i want it. >> that's a fair point as to whether there's a potential kind of pull forward impact there is, but i think when

amazon's prime event we don't know how the full thing wrapped up it was the longest by 12 hours amazon has told us so far that worldwide sellers, predominantly small and medium sized businesses saw the biggest 24 hours sale day in amazon's history. amazon's first 24 hours of prime day sales were 79% higher than last year according to e-receipts adobe analytics says they saw a 64% increase in sales versus an average monday in july compared to last year's 54% growth on prime day. even the niche retailers saw a 30% increase on online sales based on an analysis of pain views, the echo show 5, fire tv stick with alexa remote and kindle paper weight were the top sellers. it makes sense because those were drastically discounted on amazon's sales day events. walmart during prime day, the page views there indicat instapot, the apple watch 3, the vizio 54 inch 4k tv were the big sellers. when you have a big peak and a swell of packages coming through the system at the same time, deliveries could be slower >> you need to tell sorkin about the exchange we did. >> the shoe store. >> you know about

amazon embraced her message of self-acceptance and of course this is a push by amazon to push further into cosmetics challenging alta and sephora. >> i don't know anythingabout makeup. >> what? you wear it every day. sure you do. >> try not to wear -- >> everybody wears makeup. >> i need as much help as i can get. >> really? its he hard to reveal the top states for business in the top of the hour. with a rundown of all of the diabolical hints we've had here's a look at yesterday's s& 500. through the at&t network, edge-to-edge intelligence gives you the power to see every corner of your growing business. from finding out what's selling best... to managing your fleet... to collaborating remotely with your teams. giving you a nice big edge over your competition. that's the power of edge-to-edge intelligence. >>> welcome back you're watching "squawk box" live from the nasdaq market site in times square. >>> good morning u.s. equities futures at this hour down 72 on the dow. those are some of the worst levels we've seen since we came in anyway this morning the s&p indicated down about 10.

amazon down 1. these are not meaningful downside moves in light of what could be otherwise ominous headlines. >> you don't believe that if the government really put pressure on amazon and said, you know, this marketplace of yours, we don't like it. or if they go to apple which is dependent on services long-term, they made that a strategic part of their strategy, if they said this app store, you have to open it up. those -- anything like that or any push in that direction i would think would have an impact >> certainly the app stores are an area of vulnerability across apple and google i think if we think through what has been the traditional framework by which the government pursued antitrust, it's been largely grounded in consumer price and choice. with the app stores, you have things that do demonstrate kind of common carrier characteristics which have been long regulated >> what is the lesson of the at&t/time warner transaction that was one transaction where most people who studied anti trust wou

>> we still like amazon because of the cloud, you know, focus they have where aws. as you know, they're the leader in infrastructure service. last quarter they grew that segment by about 41% we would expect amazon to continue to morph itself away from what we consider their core business as they kind of expand out into these other thing you guys have well documented their efforts into getting into the pharmaceutical distribution business they have gotten into all kinds of things. so to me the future for them is really the cloud because that is by far the most exciting aspect of their business. it actually encompasses a very small portion of their sales that is an area we feel very strongly about in regards to amazon going into the future i ask you that on a morning when apple got downgraded to a cell at rosen blat and they're talking about the fundamentals of the company deteriorating over the next 6 to 12 months >> i think you're right. apple is by far the company that will be under the most heat. you've had a couple of brokerage firms downgrade them as you mention

all along i think amazon should be more concerned than ulta. why? because mary dillon runs a tight ship in the best loyalty program in the world look out amazon, ulta is the real deal. harry in colorado, harry. >> caller: jimmy, boo, boo, boo-yah from the white peak mountains of colorado. wondering about your take on chewy the management, back up the truck or -- >> can't back up the truck because it's too expensivexpens. i was very impressed by management when we met very impressed i think they are doing a lot of things right some said how do we know amazon can't beat it? the guys, i actually once i asked pet owners what do they use? haven't found a sole that doesn't use chewy including us retail is back, etsy, lululemon and stitch fix found ways to win and charts can make you go higher much more "mad money." a company that works with visa, bank of america and you probably never heard of it. i'll reveal the name and what would have been pop's 97th birthday, i'm reflecting on things he taught me about business and your calls and rapid fire of to

amazon restaurants. immediately grub hub stock caught fire and multiple analyst told us this is a major positive they are looking for after all, if you can out last amazon, got to be in great shape. stands to reason not so fast. i think the buyers are getting ahead of themselves. they were never a major player to begin with. one less competitor, of course they still got plenty of other rivals and frankly, you can read amazon's decision not so much as they gave up but how about this? as an indictment of the whole industry you have to remember grub hub's margins are under serious pressure for sometime and spending a fortune to fend off door dash, post mates and everybody else that piled in the business that's not a good sign, people in april we stopped by grub hub's head quarters to give the ceo to tell his us side of the story and willing to talk. i asked him if all the ad spending was worth it. here is what he said. >> so you think about it this way. you know your ltv, lifetime value of your customer onc

you saw a statement come out from capital one where is amazon in this? what does this mean at a time when everybody is moving to the cloud. capital one has been very aggressive moving to the cloud when we talk about a firewall that was misconfigured on whose end, assuming from -- from the reporting it suggests this information was sitting on an amazon server, on an aws server does this become a larger story about aws? >> i think that's an interesting question to pose she is a former aws employee >> she's a former aws employee the data was sitting on an aws server unless i lost my mind, i would say, okay, does she know something about the way these servers are configured with clients that others don't? >> it was on an aws server she -- they didn't look to see whether i had done this, i can tell you that much you need some serious expertise to be able to do this, right she's got years spent working at aws. even though she's, you know, fatherly young fairly young, 33. i read they put up a flimsy firewall >> i'm trying to understand is that a flimsy firewall

exhibit a, amazon. it crossed the trillion dollar threshold this morning amazon didn't become this unstoppable behemoth because jeff bezos is brilliant, which he is. it got here by leveraging scale. amazon is dominant because it's so big they use that scale to get better price from the suppliers to pass on to you. we have antitrust law because when you get big enough, well, no one can compete against you bezos saw how he could use amazon's scale to dominate retail he didn't stop there he figured he could do the same thing by creating cloud computing. aws one of the largest businesses growing at a 40% clip we had the head on the show recently, he told us how the position scaled which is the dominant player in the cloud which is true. it allows them to innovate and keep prices down and compete with the competition i urge you to look at that interview. i thought it was mind blowing. i thought to myself, darn it, that guy is real smart amazon also knows the secret to maintaining scale is keeping work force

prime bring any good news to amazon stock >> i like amazon amazon and disney are charitable trust stocks forever i believe in both. i don't want to trade them yo you have to own them and that, ladies and gentlemen, is the conclusion of the lightning round. >> announcer: the lightning round is sponsored by t.d. america air america air ameritrade america air ♪♪ ameritrade >>> just because you love the product, it doesn't mean you should love the stock. i love levi strauss. you're dressed for a lack of success with it plummeting 12% today on hideous guidance. levis came public on march 21st. the first belig deal of the yea and primed the pump for the big ipo cycle. levi is the company has a storied history and kicking around since 1853. it has terrific management we had on the show chip burg, ceo seasoned executive so it made sense why the stock immediately went to a premium after pricing at $17 it spiked up to $22.20 at the open and closed at $23.66 big success. they were trading at 22 times earnings which was more expensive than the average apparel stock, not totally unhinged but this

amazon target, costco, home depot and i really like his thesis on target and costco. i'm not as enamored of walmart target is the best like he does so the charge is interpreted by bob lang and all three could have plenty of upside levels what can i say how about great minds think alike? stick with cramer. >>> it is time, it is time for the likening round buy, sell, buy, sell and then the lighting round is over are you ready? time for the lightning round rein ryan in illinois. >> caller: boo-yah, jim. i had range resources for awhile. >> natural gas lick wquidliquide weakest part of the entire chain. eric in california, eric >> caller: hey, jim, big boo-yah to you. >> boy -- what's up? >> caller: i'm a newlywed. my wife wants a house and i'm looking to get started with gh garden help. >> it's speculative but gene sequencing and i've been recommending all of those. let's go to sean in nebraska, sean >> caller: cramer, a big-time omaha, nebraska boo-yah to you. >> what's up >> caller: i got done playing warren buffet's paper wizard have you ever played that game >> wow.

next up is amazon. they have big brother and alexa and wiped out small business and have the power to steer their own goods but amazon also has friends. they have distribution centers all over the country that gives them influence and their platform is beloved by everyone who uses it and ceo jeff bezos owns "the washington post. that's one way to ensure you get publicity but he has not influenced the editorial if you're worried about corporate concentration, that's rifling. even though amazon spent years krau crushing smaller retailers, this is in the best shape it made a brilliant settlement nobody is talking about to appease sellers, the people that are on shopify like i talked about at the top of the show amazon knows how to play the game last but not least, there is facebook man, they sure didn't buy much with that $5 billion settlement. it's out of the frying pan and in the fire with them. the treasury department is not thrilled with the plan to launch the currency, lib ra if they bring in counsel,

brodin likes amazon and alphabet for now. much more "mad money" ahead. i'm sitting down with the ceo to find it and i'm on the grind to help your portfolio and all your calls of rapid fire in tonight's edition of the lightning round so stay with cramer. do you have concerns about mild memory loss related to aging? prevagen is the number one pharmacist-recommended memory support brand. you can find it in the vitamin aisle in stores everywhere. prevagen. healthier brain. better life. - when i see obstacles, i create opportunities. (soft music) - when i see adversity, i find a way. - when i hear never, i say now. - [announcer] southern new hampshire university is education made to fit your goals with over 200 degree programs, flexible class schedules, and some of the lowest online tuition rates in the nation. (cheering) - so when i face barriers, i can break through. - [announcer] breakthrough at snhu.edu. >>> you know me, i'm always telling you to have gold exposure if insurance against economic turmoil or inflation. in 2019 gold caught fire with the preci

we make the hardware data center look like amazon if you are amazon customer and they have 30, 35% market share number one in the market they are preferred top partner we can help customers and we have many customers we talked about that are adopting the vmware cloud in aws. for the customers who said we're not an amazon shop, we quoted walmart in our announcement using azure. they have an option because we announced a partnership with azure. there are some customers that have other clouds. aws will be first and preferred forev for us, we want every customer that has vmware, azure, alibaba, google, aws, all embraced vmware >> that answers the second question, too dependent on amazon, clearly not and we don't mind having a great relationship with amazon. red hat merged with ibm last week i was concerned about the impact on vmware. they were actually surprisingly quite positive about vmware because red hat seems to like you. >> listen, ibm is a great partner of vmware. we love their services business. ibm cloud has 2,000 plus customers so we're going to partner really well with the team we

they can go on to a portal and amazon will match them up. once the buyer closes, amazon home services steps in with as much as $5,000 in services with things like painting, hanging your tv and installing devices >> there are so many ways you can get low quality internet leads out there that realogy and amazon are delivering high-quality leads >> the program launches in 15 major markets today including l.a l.a., san francisco, dallas and washington, d.c. >> short interest is very high red fin is down 1.6% is its business threatened by this partnership in your view? >> absolutely. it has become a very, very competitive market they have very high-tech a platforms. realogy needed to step up its game we did ask the ceo if they expect to see the properties listed on amazon, which i got to believe will happen. he said they hadn't discussed that yet >> diana, thanks >>> coming up, jeffery epstein's deep ties to wall street insiders check out futures at this hour looking at triple digits squawk box will be right back. moving is hard. no kidding. but

some mangers like to buy the retail eft i think that's a mistake, though because 20% is amazon. home depot and walmart are 10% and costco is 5% you're getting a lot of good exposure and lower quality names in there, too. stick with the winners, don't you think? that's why i hate the sector efts stick with the ones i outlined if the job market stays strong, the stocks keep winning and winning and winning. stick with cramer. tell him we're flexible. don't worry. my dutch is ok. just ok? (in dutch) tell him we need this merger. (in dutch) it's happening..! just ok is not ok. especially when it comes to your network. at&t is america's best wireless network according to america's biggest test. now with 5g evolution. the first step to 5g. more for your thing. that's our thing. weveryone, looknk isn'tat your phones. the design thinking, the digital engineering, security, blockchain, and we will be first to market! yes. when we do we launch? unfortunately, in 2 or 3, hours. why the delay? cognizant is helping banks use digital technologies at scale to advance speed to market. >>> invest

>> have you ever tried to download a show on amazon prime, vs. netflix. we wouldn't have enough time relative to the second it takes on netflix technology is hard and netflix, that's all they do i think there is something to be said for the only thing netflix does is streaming video. all the other companies we can talk about they do many other things. i think that's a distraction or makes it hard to focus purely on streaming. look, it certainly argues, you think about sun valley, it argues, all of these companies need to get bigger i heard david on here yesterday, you asked him if he was for sale he said no way discovery is for sale. there may not be a buyer because companies like comcast and disney and via com, cbs haven't merged yet there will be consolidation. >> i was thinking 16 billion or so that's a big number. you'd have to take 30, wouldn't you? >> comcast is a pretty big company. disney is a big company, via koym and cbs. >> wouldn't you have to take 35 oring? >> the headwinds are not going o'way, i call the next five years the let in flicks era

they could get an amazon or google or facebook to go in with them and become another reseller on top of what they're doing across this system if you're t-mobile or sprint, you don't want that. you can only sell so much. you can only bring in so many partners dish is led by charlie, he's a strong negotiator. >> and he walked before. is there somebody behind him >> i think it hinges on him. >> making sure the doj is cool with this. >> if they see this creates a legitimate fourth carrier. you're combining these two but we need another one to support the system support the market around it >> do you think in this environment, this political environment that a google or an amazon would be ones to step in and make major investments >> i think they're not allowed to >> i think it's off-limits it's not possible. >> it's off-limits with the regulatory -- >> yeah. we talk about privacy all the time >> most people don't care. >> the public doesn't care if google offered a subsidized service where your phone service is cheaper -- >> how much do you pay for cell phone service? if that dropped by

i would bet on mary dylan if the stock gets hit, buy more the company knows how to handle even amazon, people, we're seeing a return to the 1980s growth today so stop complaining, and stop talking about the fed, and let's settle in to companies that are doing real good job winning in the supermarket, the grocery store. on "mad money" disney is powering more than the movie theater box office i'm sitting down with hazbaro and a snack attack on wall street which company could come out victorious because i'm focused on the 1980s group stocks and comparing hershey and one super star is teaming one chase to help young entrepreneurs jamie diamond is getting behind the guy. he told me himself stick with cramer. >> announcer: don't miss a second of "mad money." follow @jimcramer on twitter have a question? tweet cramer #madtweets. send jim an email to madmoney@cnbc.com or give us a call at 1-800-743-cnbc miss something head to madmoney.cnbc.com. moving is hard. no kidding. but moving your internet and tv? that's easy. easy?! easy? easy. because now xfinity lets you transfer your service online

these are big names, amooi crow soft, apple, amazon with huge market caps. the advances this year in the s&p 500 account for 20% of the advances. >> right. >> i usually thought when we think about how tech weighted it, i thought it might be more than 20%. >> right obviously that's more than those four companies waiting in the index. it says those four stocks are outperformed. >> right they're also all -- >> big gross stocks in general. >> we're getting used to using the t word, too. they're all coming. >> unless they don't -- >> large numbers you used to say. >> unless all these companies stocks stop bleeding the market. if they keep going up, then they can buy back stocks, too. >> last we got 2 above the trillion and then the market corrected. >>> joining us now, jim paulson. thinking about questions for him. hank smith, investment officer paulson, we go way back obviously. correct me if i'm wrong, but in 2018, you got less bullish and it ended up being a flat year, i think. now against the lot of the grain you have been really pretty positive in 2019 and y

why we didn't get amazon here. there were jobs lost there. >> that was -- as i've said a million times, i thought a terrible mistake and a political one but in a very different way than people think -- >> this is arizona and arizona, i don't think the governors of oregon or washington are going to -- are going to come down on the same side as arizona. >> so joe, andrew and becky, i would point out in one of the tweets in the string that governor ducey put out he did say that arizona and the city of goodyear, arizona, are well off enough without nike being there and that is one of the reasons why they're talking about taking some of the incentives and fee rebates away from that potential nike facility in goodyear, arizona. >> okay, dom, thanks. >> let's talk more about market and possible wild cards. joining us is david bianco from dws group. and tom tessorous from head of fixed income what do you see as far as the jobs numbers coming in and do we want a strong one or a weak one and are rates going lower? >> i don't

amazon there is a $4 trillion market for retail goods and amazon only has a small fraction netflix recognizeswhat you wan when you want it game changer. why do i still like this alpha bit? isn't that played out? no, no, no it dominates just the moment you want to buy something so the ad vertizers love it. there is a balance sheet of beauty and people working to avenge something new to plant or compliment search and maybe the autonomous driving vehicles, these are just examples. they are about growth. i know that it seems rather commercial to do what i want done here, but i also think that given how poor income growth has been for so many people in this country, it is important to augment the saving side. there is no time like the prese present. one thought i like, you know i believe gold and silver are terrific insurance components to any portfolio. we'll discuss this later in this show but a highly unusual yet totally blessed by me idea is to buy gold or silver coins for people or pieces of gold or silver, the actual i bought slivers of silver for my kids from a dealer and forget about them pret

he pull aed away from amazon. you own fedex because it's darn cheap and well run and come down too far, too fast. i like it. not for a takeover but because it's good. bill in new york, bill >> caller: hey, this is bill from new york. >> good to have you on the show. >> caller: i have a question people mutual funds, et cetera still buying stock when the company filed for bankruptcy, isn't paying dividends and being sued for $20 billion because the equipment caused many of these devastating multi year california fires thanks and keep up the great work. >> i think that -- thank you i think that's what happened here is that people are in disbelief there could be anything wrong i share the skepticism with you. mutual funds buying here, i mean, maybe they know something, maybe there are sources in government for heaven sake too risky. today is representative of this entire year. just when people think this market is going lower, it sores. the s&p 500 had the best half in two decades and going over the winners to tell yo

this off we trust amazon. we put our credit cards in there every day. regulators would be on them. it wouldn't be like this it wouldn't be like let's put them up in front of a panel andtary them apart because they lied about data and this and that >> i think you will face tough >> i think it's intriguing i think all of this is eventually good for bitcoin. i think libra is the on ramp the electronic wallet pulls us into this world. it shows us why it's so much better there is nobody in the middle. you don't have to trust anybody. >> the think i question is if they will question libra, how does that more tend? they have to think about any crypto currency if they say we have to put all these guard rails around and the structural peer-to-peer nature of bitcoin it may fundamentally be possible >> who do you pull in front of the congress >> that's what's interesting they can regulate how you buy and sell it. >> can they track down and figure out who is behind every transaction? because that's what the law enforcemen

it's sad for long island city that the amazon deal fell through. we would love to have them there. the reason i wrote the piece is there was a lot of depression, dejected folks saying tech had top ticked in new york that is not the case but building start-ups is a long game and it takes five, six, ten years even if we want to start now, we have to do it the old-fashioned way investing in companies there >> was it a mistake to offer the tax incentives to amazon >> not at all. it was a public partnership that fell through for sad reasons >> you think we will do it again? >> sure. >> is that where the focus should be? >> i think new york made an intention al decision to make itself into a tech hub. we should be using private partnerships and government money. we have 9,000, maybe 20,000, start-ups here in new york when i was a kid and the yankees started winning world series, we grew our own players and supplemented with folks from the outside. >> what does that look like? everybody is happy to sit on this island. this is a popular place to be. nobody is going to brooklyn. some are, b

and we know justice is going after big dogs and their ingenuity won't save them this time the fact amazon is doing the same thing online that walmart did offline doesn't matter it questions competitors when nobody cared about the stuff amazon web services lowers prices for everybody but yes, it can allow companies, for decades as long as they are pushing the prices down, regulators don't mind if they got blood thirsty it was good for you. if google is making life difficult for yelp, there is no immunity with apple building an incredible product by forces you to buy the apps from their store, does that really make them a monopoly? who says you have to buy the apps 40 years ago yes, this was textbook competitive behavior but unenforced so long i'm indignant on apple's behalf and the regulatory regime changes overnight from a republican president anti regulation and then there is facebook now, facebook is also being investigated by justice but today was about the suddenly very tough federal trade commission running rough shot over ceo mark zuckerberg for privacy violations the fdc has been a

but yet you have not seen apple, amazon, alphabet posting new highs. nvidia, netflix, still well below the highs they posted in 2018 there is dispersion in technology there's a defensively oriented sentiment that wants bond proxies. >> let's talk about our top corporate story. it is the one and only elon musk, tesla shares are soaring this morning on record deliveries he pulled through, phil lebeau >> he topped expectations on every level in terms of what people were looking for for the second quarter now already there are people who are saying, well, okay, at what price did you have to sell the model three? what will the margins look like? we won't know that until later this month and early next month when they report 2q finltals. they hadry dlefryes of 95 d 200. the model 3, 77,000 of those the model s and x, almost 18,000 when you look at the model 3 deliveries this has been the focus for so many people the estimate was for 74,100 vehicles to be delivered now with the 77,550, and the total number, they need to deliver about 200,000 vehicles in the s

do you think the government will be deciding any of those winners if they think about breaking off amazon web services or anything? >> i don't really worry about that i do think that the government will try to take a whack at everything here. it will be part of everybody's political campaign we heard some of it -- although tech wasn't specifically mentioned last night with the democratic candidates, there seems to be sort of a lot of anguish toward anything that is large and growing. but we depend upon innovation as the backbone of this country and we also do see every enterprise becoming a software company and looking at how they improve their digital experience with customers we do truly have a global digital transformation under way. and there are many benefactors in the enterprise software space including companies that are critical to the long term viability of every enterprise which are the cloud vendors themselves microsoft, google and amazon >> having said that, it is not just the democrats, it is the republicans at this point too who are not thrilled with big companies on any lev

amazon, yes, vulnerable. microsoft, after this run, vulnerable netflix, vulnerable. apple, potentially vulnerable. these are the big ones that could potentially get pummelled, especially if the trade war heats up against apple and gets caught in the cross fire however, i think the deal the president just made is a major win for these guys i wouldn't sell apple. still, when you look over the whole market, the idea that we're too bullish, it does not hold up under close scrutiny while there are some overvalued stocks, real people i think are descentable regardless of what polls say. bottom line, feel free to pull in your horns, because you think there's too much enthusiasm. i'm not seeing as far as i'm concerned, there's too much exuberance in one particular subset of expensive tech stocks. but other than that, you're boxing with phantoms stan in florida. stan >> caller: hey, jim. >> stan. >> caller: i'm an owner of the dow dew poiupont merger, spun ol three divisions. dow is doing okay. core teva looks like a rough year because of the midwest flooding and so forth. >>

amazon on the verge of new highs. apple not so much. so it is a very bifurcated group. as far as cyclicality goes, watching the semis and the software stocks i think will be a very telling barometer as to whether or not the economy picks up in the second half of the year we have started to see that inflect positively over the last couple of weeks. we started to see, i think importantly, discretionary outperform staples here, high beta outperforming low beta. those are the market tells that we want to look at. >> all right, keep an eye on them, thanks a lot >>> white house economic adviser larry kudlow, former jim cramer partner, speaking now in washington here's what he said earlier this hour about fed independence. >> operational sense, traditional sense, i support that independence. but i also believe in a democracy that the president has the right to make his views known. as do members of congress. and other interested parties. >> new york stock exchange, life after kudlow and cramer, tough for larry, for a while finally i think he's at least -- not quite matched his

amazon web services. while that 63% premium sounds like a hefty price tag, considering there were other potential bidders, they paid what they had to pay to get the job done it's a little misleading it seems like ibm paid through the nose for red hat if you measure where the price tag was before the announcement. at the time, $116 stock, ibm sold out 190 we've been supporting it for years when it was in the 50s, 60, 70s, 80s red hat, even a year before, the price seems a lot more reasonable in june of last year the stock was at $177. after getting clobbered for a suboptimal quarter if you think jim white hearst like i do can turn things around -- and i did -- then it wasn't going to stay down here for long it was going to start climbing with or without jenny. if you take red hat's price over the year before's ibm's take overbid, $142, ibm only paid a 34% premium. in other words, i don't think they overpaid versus what this business was really worth. then there's the qualitative argument for years ibm had

my theory is these analysts are the same gang that covers the stocks, facebook, amazon, netflix. apple is the slowest grower by far. if they grow at a 1 % clip, that's a disappointment. for the revenue stream, that's a loss my solution, you need to view every hardware sale as like a one-time game. hardware is cyclic l but the subscription business is like a cable company. follow with the tech analyst think about a cable company hits you up for more money every month. they have a 99% satisfaction rate they do no favors but saying there are 420 million paid subscriptions. we don't want that how many subscribers, not subscriptions. we need that we need to build models. what's the churn you can find out the lifetime value of the subinstructioscrip. i know this business here is the issue, a tech analyst who covers hardware or software companies won't understand any of this they might not recognize the lifetime value of a credit card holder you can do the streaming, let's say bang k of america if you have 1.4 million people owning it and you know the rate and churn, you can see the pri

big box spending continues unabated although amazon, after a big run up better than expected quarters, took a breather tonight because of heavy spending cycle i told you was going to kick in when we get the game plan. most recent mortgage application decline, low single digits housing is still pretty good the industrial economy is so weak j. powell has plenty ammo to justify cutting interest rates. if the president rolls out new tariffs on chinese import, 300 billion, one rate cut will not be enough. here's the bottom line, people arksz i've been saying, we have two economies in the country the manufacturing economy and consumer economy for the moment they are very out of step with each other. the former doing badly the latter doing well. this industrial weakness is a serious problem. it will not go away unless the fed steps on the accelerator only offset the weakness, along with the air pollution from china. >>> jeffrey in washington, jeffrey. >> caller: bouye i can't from seattle, jim home of jwn. >> that's right, i forgot, that was on the 52 week low i have to get a new address. wh

i thought it might be beneficiary to amazon. i got the fire stick for much more than i should of because i bought it last week. i'm an idiot of nothing. you can't take things personally anyway, i like roku. i like it. listen up, sure, no one got hurt taking profit and i'm sure many did today. this market is not worth running from i think when it goes down on certainly good individual stocks, it's worth running to. hey, on "mad money" tonight, i'm always looking for buyable pull backs. i'm diving to applebees and i hop to tell you if this company can get the groove back and serving up the dish and the ceo everyone is talking about and hey, maybe we should get cautious maybe someone whose not causous and bullish. i'm going off the charts to find out. stick with cramer. >> announcer: don't miss a second of "mad money." follow @jimcramer on twitter have a question? tweet cramer #madtweets. send jim an email to madmoney@cnbc.com or give us a call at 1-800-743-cnbc adss something he to madmoney.cnbc.com. moving is hard. no kidding. bu

projects in manhattan and new york city, including the long island city development that would have housed amazon's second headquarters. look, there are a lot of good projects out there currently on the slate, but the reporting requirements that were in the original legislation were mysteriously taken out right before it passed so there will be no reporting requirements on what's being built, how it's improving employment in these areas or whether it's helping housing values or the lives of people in these distressed areas. >> stay right here let's bring in two guests to talk about opportunity zones joining us is operation hopes founder, chairman and ceo john hope bryant. he's also the founder of promise homes. and heritage foundation senior policy analyst joins us from washington john, you're here on set with us obviously you want to see a lot of this economic development, but are you concerned about the way it's being monitored >> i'm always concerned about washington, d.c. but look, as long as -- first of all, the issue about some of these projects are in neighborhoods that are aspiring. if you