yourself. they will be awful in 2009. the caterpillar game is based on more positive comments about 2010 sales that should be notably better than 2009. me lisz a the bulls are going to seize on caterpillar way or another and if it's not what they want, you bet the bears will be squawking. >> interesting. what's going down on the bond floor? >> on a day with no supply outside of t bills and no real specific treasury news, we had a very big range in the treasury complex. a 10-year note closed around 364 yield on friday. today it reached up into the 370s, something we haven't seen in a month. it moderated dramatically into the 350s. let's look at what's going on. ben bernanke tomorrow and the cit news and the variety of ways that can impact the psyche of pushing rates up or pushing rates down, depending on not

necessarily the longevity or the business model, but the financing issues of the here and now and most notably today, we continue to see equities higher. whether that's a long-term positive or not, it has a somewhat soothing effect. >> rick santelli, let's check in with scott wapner. >> we are working on a nine-day winning streak. we are up about a half percent. the big story is cisco systems. getting the upgrade from neutral and they talked about improving business conditions. steady and modest is how credit suisse talks about improvement for cisco. they are measure and they do say they are not hearing about significant and robust improvement. at least on the order front seems to be helping a little bit with a slow down from overseas. they are watching for earnings.

yahoo, apple and key numbers that will come after the bell tomorrow. texas instruments are giving a good read and ebay is later in the week. clearly the ninth stray day technology is to the upside and much has to do with cisco up 3%. >> thanks so much. two things washington is talking about. first the new report from the t.a.r.p. inspector general saying government spending to cushion the effects of the financial crisis could reach $23.7 trillion. we will get you more details as soon as we get them, but the president is using this to try to keep reform on track. john is on that. . >> we hit turbulence with skepticism about the cross controls, but president obama is gunning the engine and came out

and talked to the press with the children's national medical center and always talked about health reform as something that would bend the cost curve and reduce cost and he means it. >> the billie sign must reflect commitment and commitment of congress to slow the growth of health care over the long run. that's how we can ensure that reform strengthens our nation's fiscal health at the same time. >> here's why the health care picture is say moving diagnosis. lots of things that are fluent and the house indicates they will trim those targeted by the sur tax to pay for health reform and push it over. secondly, some moderate democrats in the house and the senate are pushing back on the idea that this program bill is moving at inadequate cost control and bipartisan negotiations within the

committee of opinioninging and we expect it to be laid out later and the irony is this turbulence the president is encountering may end up pulling the legislation a little closer to that concern that he expressed for a long time towards curbing cost. >> okay. thanks so much. there is something new from the president from his own party on this front. john was talking about that. freshman democrats are balking at supporting tax increases. joining us is one democrat who signed the letter and the coalition represent friday virginia. thank you so much for joining us. what is your problem with the health care reform as it stands? is it the cost issue? >> it's good to be with you and we are here on capitol hill working hard to find a bill that many of us can support. i recognize as many do that we need to reform health care and get the cost under control. that is one of the principals the president laid out that i'm

supporting. i don't want the health care reform plan to burden unnecessarily the small businesses that are struggling right now and they are struggling with the cost of healing care which is one reason we need reform and we doend want to burden them to make it difficult to create jobs. that's what we need to do in terms of recovery. >> is that the part of the plan you don't like? would you leave the rest or how would you change things? >> i'm working on that question. how do we avoid this taxation of small businesses and make sure that the reform doesn't overburden small business owners and come up with a bill we think will work. this is all part of a deliberative process and we want to get to a billie can support and a bill that without overburdening small businesses helps us spend that cost curve and achieve the savings we are looking for in health care. >> forgive me if for staying on the point, but would you take

away the sur tax for people making over a certain amount and if you are a small business owner, you don't pay that. would you change the penalty? >> there a number of different ways we can do that. my principal i shared with a number of others was to avoid the double taxation on those that need to create jobs. i am working with other members to try to come up with the mechanisms and find ways to work together to solve this. like you said, a number of ways to do it, kreaing small business accounts that provide tax relief, but the bottom line is, we have to reform. we have to bend the cost curve down. we are struggling to create jobs. >> you are part of the group that spoke to us about this. >> that's right. >> what was his response? >> the president laid out his principal and think as you know, he hasn't associated himself with any of the different versions of the bills up on the hill right now. i think at the end of the day, what we need to do to work is

meet his principals. one was to find reform that does achieve that savings we are looking for and obviously we want to do that without overburdening. we have work to do on the bill, but we are working hard to find a bill that bring us the conclusions to work to reform health care and families in a way that doesn't overburden small businesses. >> if huh to choose between this or nothing, what would it be? >> we need it, but we have to get it right. we have to let smart reform drive instead of the other way around. i was elected to do work for the american people on the big issues facing my family in my district in the country. this is a big one. we have to keep working and get the details right. >> you don't think it is a choice between this or nothing so you don't want to answer? >> this is part of the deliberative process, but i am willing to get to a bill we can

support at the end of the day. >> thank you very much for coming on the program. >> so the president has been on the job for six months and seemingly has been on tv stumping for almost every day of the term. here to help us do that is the senior fellow and associate professor for public policy at the university of massachusetts boston. dan mitchell at the kato institute and coauthor of global tax revolution. thank you very much for joining us. let's start with health care. how do you think the president is doing on health care? >> the theme here is that he is showing how government can work and work well. so far the grade is incomplete because we don't have reform. he laid out a number of principals that people can get behind covering the uninsure and working very well with congress. he doesn't say this is what you have to approve. he said we are willing to work with you to find a solution we

can all live with. both parties can live with. that shows a smart approach to the large stale problem that is the economy faces and the country faces. >> i bet you don't agree that. >> i agree that the health care grade is incomplete, but if i'm the professor in the classroom and i peeked over obama's shoulder and i see what he is doing and working on a term paper that is going to get him an f if it passes. we tried big government under bush. we had a giant medicare drug entitlement. obama is going down the same path as more government control and more spending and higher taxes. it's not going to work any better for obama than it did for bush. >> there is a clear distinction between the bush approach and the obama approach. if you look at not just health care, but all policies, they sl shown they have a smart approach and that is it looks at things. >> wait.

let's move on to the next category not to get off base. >> it would be obama administration is looking for the cost controls and really addressing the core problem. the bush administration didn't address. >> what about the government control cost? every program costs three times more than they say it will. >> medicare and medicaid is more efficient. >> how about the economy. what grade would you give him? >> overall an a. the obama administration was handed a bad hand. they had to deal with massive financial panic in the worst recession since the great depression and a long-term structure problem that is lower growth. >> dan? >> we have certainly dealt with the financial panic issue and i think we are doing well under the recession and moving forward on the recovery and i think --

>> why don't you do the economy and housing together. >> the economy, i want to take classes under christian. if he gives obama an a, i can skip class every day and he will give me an a plus. obama came in and unemployment was lower and the deficit was lower and economy was stronger and obama pushed everything in the wrong degree by continuing bush's big government intervention. a definite f there. >> i'm amazed. in all seriousness, i don't think anyone would believe that obama flips a switch and the economy will change trajectory. >> how is bush? >> he's not. we have a temporary stimulus that is -- >> overall, bottom line, i think

we can see the trend with dan giving the president an f and give me your last best argument for the case for why you think he is failing. >> we shouldn't be partisan. i was giving bush bad grades for doing the same thing. i love christian, but i think he is being partisan and wants to support democrats and oppose republicans. we have to look at the policies and making government bigger and more expensive and bureaucratic is not a good recipe for the economy much . >> i think bush deserves a failing grade and that was different government that didn't find solutions to the problems we were facing. >> guys, i'm sure we'll continue. >> we are looking for things that work. we have a smart government now. >> thank you to both of you for joining us. we will continue on another day.

what grade would you give the president. write to us on "street signs" on cnbc.com. the marketings are on a roll. a trip to the commodities corner. 40 years ago neal armstrong thrilled the world when he walked on the moon. do we really need to spend $104 billion to go back to the moon? did we forget our keys? street signs is back. taking its rightful place in a long line of amazing performance machines. this is the new e-coupe. this is mercedes-benz.

earnings central. it's time for the earnings score card of the 59 s&p components that have reported 69% beaten estimates. 22% missed estimates and 8% were in line and that gives you a surprise factor of almost 11%. look at the beats. you heard the headlines and learn how to trade off of them. join us for the daily sense of street sense. an institutional services director and options action trader and also brian kelly, president of conundrum research.

thank you very much for joining us. your focus on the weak dollar trade. >> i am. we have been talking about tech, but the trade going on for five months is resumed. the dollar is trending lower and when that happens, the money starts slow and the commodities. the grs is what i'm look at. good revenue growth and good margins and good production on gold and silver. you get both of those, but anyone who trades in the space knows that none of that matters. what matters is if the dollar heads lower, you get more bang for the buck. they're over the last six months and seems to be something the money will flow through. we have little troubled days where everybody buys the dollar because we are scared at something and the weak dollar trade continues. >> what would make you take off the trade? i know dollar strength, but what is a signal that makes you think

it's here to stay? >> one of the oil, gold, silver and something to start heading in. oil usually happens first because oil has a demand coming & starts to take off a bit. that starts to happen. >> okay. cool. brian, you are looking at the m 1 multiplier that he loves to watch. you think that money hoarding may be ending. >> i do think it might be. if you look at leading indicators, that was up more than expected. if you dig deeper in there, you look at one of the components that was lower and that was the m 2 money supply. that was decreasing. if we look at the more money multiplier m 1 divided by the monetary base, last week it started to tick up above one for the first time since march. for every dollar that the fed

created, we are starting to create one two more and if we can start with the monetary base and m 1, eventually that leads into the money supply and which should help the market go higher. my trade is to buy sty. >> interesting. last i saw it was flat. i didn't realize it was dipping. >> the inflation is the real m 2. they have fallen a bit. if you look at the multipliers, it plunged. they are 3-2 to below one. in my opinion it's a disaster. they are coming back. >> thank you very much for coming on and don't forget to catch jim and the rest of the gang on friday at 11:30 p.m. eastern. just ahead on "street signs," will amazon's kindle be the final nail in the coffin for

newspapers? is it too late to find a way to survive on the web? a street fight when we return and apollo 11's moon walk riveted an entire planet. that was then and this is now. does the government need to spend billions on the space program or should we declare victory and move on. back after the break. [ engine revving ]

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commemorating giant step for mankind, the o polo 11's mission to the moon. president obama wants to return to the moon by 2020. are we on track? should we give out to the space program? we will debate that? n a moment. more on the o papollo anniversa. >> putting astronauts back on the moon and a possible journey to mars tops nasa's to do list and all costs big bucks. the program that put neal armstrong and another astronaut on the moon between 1969 through

1972 costs $25.4 billion and that translates to $150 billion in today's accounts. the morale boost for a nation mired in the vietnam war. 40 years later, the cancellation program is the centerpiece. it calls for a return to the moon, establishing a base there and setting the stage for a position mission to mars. to get there, that will replace the aging shuttle fleet. t estimated cost between 100 and $150 billion.he a journey to mars said the astronauts should include a plan to put settlers on the red planet. >> we think we are going to send them there for a year and bring them back.il then send another group. f i will tell you what washington will do. they will find another way to spend that money.

unless we have declared that our objective is an increasing perm nens. a settlement. >> a poll said on the anniversary of the moon, 58% of americans believe they brought enough benefits. the aftermath of the 1986 challenger generated the most support from nasa. a 76% approval rating. >> interesting. thanks so much. nasa plans to send astronauts to the moon by 2020 and to mars by 2030. nasa's budget is 17.2 billion and 18.7 billion. only 1% of the total budget. we are asking is it worth it? joining us is john longston and former director of the space policy institute at george washington university. we have the scholar at kato and author of space, the free market frontier. thanks for joining us. let me ask you the basic

question. why aren't they going back to the moon some. >> because we are human and an exploring species. there science and potential economic pay offs and long-term the idea of making humanity a multiplanet species. part of what the country does that defining our character. >> do you agree with that and i'm a little startled by the idea of settling mars. >> i agree in part. i think the ao landings were incredible achievements. the exploration i agree with is what humans do. it's the personal pronouns of what is the we. long ago nasa should have been getting out of the space business and let the private sector take over. only the private sector can

bring down the cost of goods and services, including access to space. i want to see us go to the moon and want to see us colonize mars and make it another habitat, but i want to see the private sector lead the way, the way private individuals let the way to other fun here. the american frontier being a good example. i agree with what buzz aldrin said, but not who should do it and the mix. >> the lens we are looking at it through is who will pay for it. that's what ed is saying. what's wrong with having private capital pay for this as opposed to the government at a time where we find the money for health care and the financial crisis. we have a lot of things to fund right now. this looks great, but i don't know how high it is on the list. >> the problem with private funding is that there is no immediate return on investments. any kind of time frame that would attract private capital.

louis and clark was not privately funded. that was a government. >> it paid off well. what do you think? >> that is the point. if the government blazes the path and created the highways and the private sector can build on it. >> my argument is the government doesn't do that very well. look at the space station. it was proposed in the mid 80s and be up in the early 90s. it will cost over $100 billion completed in 2010 and nasa is planning to deorbit it years later. when they were asked how much it costs to go to mars back 20 years ago on the 20th anniversary, $450 billion. a private guy working for them at the time, the actual scientist did a great book called the case for mars. he showed a different way of going to mars that might only cost 20 or 30 billion.

when private people put their own assets at risk, they do better. private doesn't just mean for profit business. it can mean microsoft and private entrepreneurs who get into it. it can be universities. i like the consortiums. >> is there anything wrong with that? >> if they wanted to spent the money, but bob had a less expensive solution for the government to spend money. there is one thing about doing it and who will pay the bills. >> we have to leave it there, guys. thanks for joining us. >> thank you. >> get ready to stop trading. jim cramer is here and ready to trade. the cite cite is helping networks control content on the web. can newspapers learn a lesson before? street signs is back in a moment. (announcer) this is nine generations

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welcome back to "street signs". down here at the nymex and the oil trade settles to the upside. a choppy day at trading and take a look at the charts. we are correlated with the s&p 500 and a weaker dollar for the most part is upset and we dipped into a negative territory and i want to point out something we call the crude curve. relative to the contract, pointing out to me we are in a steeper containingo. i know it's inside baseball, but the rate of the upside is greater in future months as he said we are in a bit of a bull run. he thinks that's short-term bullish because the demand is higher and the more you move out. not so much a premium. his statement on that is it could be a short run. you know about that stuff, but they had to stay on today. >> brian shackman, thank you so much. >> time to stop trading because

they are here speaking of oil. halliburton is on the list and it's interesting that they are everywhere. >> really interesting because it was all international. domestic is horrible. domestic natural gas is nothing good there. international with the drilling has not been cut back in international. this is one of the situations where they making more money than they thought. there a lot of situation where is we basically didn't think companies could make as much money as they are making. the rails are all up. no one can believe the cost containment because we are not used to seeing it. i would have expected them to be down huge. >> rt charts we have been looking at and the stock has gotten hammered because people have cut back on the number of oil services.

we are not going to stop using it. >> this was a gas company that tried very hard and looks like it's paying off. the amazing thing is they don't seem to care whether it's 60 or 140. they are going to drill because we are not as sensitive to the notion of cap and trade. no one seems to care about cap and trade. >> all of a sudden. >> they don't think it will happen. >> eaten. >> eaten is another example. >> i'm watching the release. i won't see any dutlerry. this is not that great. i'm talking about how business is tough. business is tough. he must have mentioned it a half dozen times. stock takes off. warmer structuring and orders were not good, but not disastrous. it's almost like it was being price and every short seller

said eaton would cut numbers and dividends are not at risk. they raised third quarter. the next thing you know they had nowhere to go. we are seeing this pattern. they have been short for two weeks. last week was an aberration. there was nothing that makes me want to pay up. >> i can't take it anymore. >> caterpillar. >> the guy upgrades ahead of the quarter. last week there was a downgrade and the substance was maybe the dividend can't be maintained. i don't know what they think, but what's happened is and will talk about this tonight on my show is nobody really cares right now whether business is strong or not. they feel the stocks got too hammered. bob dasani talk about the discount. it was at 80 and now at 30.

now of course i'm questioning whether that is what happened when you are at the top end of the range. there is tremendous euphoria. >> it seems like we are across the board. it's difficult to say based on the fundamentals why we are seeing this. >> retailers, how many times have you head there is no back to school season. i read that a half dozen times. >> they will wear the same clothes that they did last year. >> there is. thank you for sharing that. i do know that the companies have cut costs. again, this cost cutting theme should have ended and it's continuing and we get into the suddenlized numbers in another couple of months. the calendar turns into the fourth quarter. i wish i had more grounding. people were saying leap before

you look. i'm not against it. i have seen these rallies before and they work. >> where does the rubber meet the road? they say they spend nothing, but eventually you have to buy stuff. the shoes don't fit anymore. >> when they reported the last headquarter, they said things would get better only because inventories are low. that's 10 points. you missed the move if you waited for confirmation. >> it doesn't matter when the rubber hits the road. >> no one wants to believe the people do a lot of homework. >> if you wait, you will get crushed. i learned something. more of jim on "mad money" at 6:00 and 11:00 p.m. the newspaper industry made a lot of bad decisions and they are about to make their very last one. what it is and how to avoid it. you are watching cnbc first in

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boston globe workers are voting on more consegs to save the newspaper, but even if management gets back in session, will it be enough to save the globe or any other newspaper in trouble? that depends on whether they can find a future that includes the web. we have an idea. joining us today is a senior analyst and michael wolf, cnbc contributor. thanks for joining us. our idea is we love hulu and it has a great player and it's fantastic. is there a way for newspapers to embrace this model and go online and make money and fix their business model?

>> nope. it's not going to happen. not that they haven't tried. so far there is no example. there is no model to take newspapers in a profitable way or in a way -- let me be more precise, that replaces their off line business with an online business. >> do you accept the idea of incorporating the internet or is there another way to do it? >> i agree, but they haven't done it at the past and i think the key thing is who any internet is the aggregator. if you can become that, you can win. there is potentially an aggregator there for the newspapers. >> let me point out that i am an aggregator and i have a horse in this race. what we almost have never seen is one business which is you should undermined by a new

technology and becoming the people who adapt to that technology. the guys who run the trains. >> is there a way for them to come together and the newspapers or somebody else to do it? >> i think -- >> should they sell the kindle. >> you look at the advertising dollars are fundamentally not there. the newspaper business is the advertising business. it's always been there. that's what it's fun toed on and that's what it's about. in this new online world, what we have continuously seen is that a dollar of advertising off line becomes a dime online. that dime can't support newsrooms of several hundred or in some cases more than 1,000 people. >> i would say that the

newspapers, 90 cents and a bit more than that, aggregators like google. it's just that you are seeing the money go to different players. >> first thing, that's not true. the literal cps, it's not as if google is collecting a higher one. it is higher than the newspaper. it is in no way replacing the cpm that off line media is accustomed to getting. >> maybe it's a smaller business. do they have fewer reporters and try and use the charge for subscriptions online or is there a business model that way some. >> maybe it is and maybe they can't support things they had in the past and they donated the business model. they give away the next piece of the pie and they follow-through on a good example.

potentially the broadcasters are going to be mediated by the internet. they group together and made their own play and hulu is doing well. not as well as they would be doing getting all of the money themselves -- >> that wasn't really an option. >> broadcasters will be disintermediated and also, i think you have to go to a more central problem. all newspapers are proposing to do right now and with broadcasters, it's to take their content created for another medium and another context and move it online. nobody said hey, this is an entirely different medium. people want their new. >> online is fundamentally different. it's instant and they are posting stuff all day long. the journals you wouldn't see if you had the paper. huh the thing for doing it last night. >> absolutely. what they're doing is posting

the same kind of colors they would have written for the newspapers. people don't want that anymore. they want shorter articles and also on the journal, they don't just want the journal articles. people are not looking at brands the way they used to look. >> they use more blogging and really the whole medium is transforming. >> blogging is not news. it's not the same kind. >> it may not be news to you. >> true. >> that's a transformation into a new content. what that's going to be and where it ends. >> i know where this ends. it ends right here. thank you for joining us. up next, imagine a battery that is as thin as a piece of paper. a battery that is printed. you might be amazed at what it

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okay. imagine a bracelet that will tell emergency workers where their patients are. the next generation of batteries are so thin and flexible that they can fit inside a wristband or on a credit card. in today's "tech effect" we're joined by gary johnson, president and ceo blue spark technologies, a company powering radio frequency identification. and for the effect we're joined

by michael leard of abi research, who estimates the market will reach $5.5 billion this year. thanks so much for joining us. ga gary, tell us about the battery. >> well, the battery is printed. it's thin. it's flexible. and it's disposable. our battery technology is licensed from energizer and we are at the forefront of a revolution in printed electronics. and much of that printed electronics will need printed power sources. and that's where blue spark fits into the picture. >> give us some everyday examples of how this could be used. >> well, i think we have a couple that we can think of easily right off the bat. one of them is you might think of radio frequency identification, which will allow things to be tracked at a distance. and those could be people walking through portals, maybe at amusement parks or onto cruiseships. it could be goods in the logistics chain. it could be patients in

hospitals. there's also the possibility of putting the card -- of putting a battery in credit card-sized devices along with printed displays, in which case you would be able to know how much money is left on a loyalty card or be able to use it for secure internet transactions by generating one-time passwords. >> michael, are there a lot of applications for this? do you think that we're going to see a lot of use from something like this? >> yes. i think it's an exciting area of innovation for sure. and i think the possible applications are truly limitless when it comes to this type of technology. and blue spark and other organizations that are helping drive this initiative moving forward. >> from a cost perspective does it make sense? >> oh, absolutely. you know, cost is a primary concern with some of these new technologies. and what blue spark and other organizations are doing with these printed technologies is helping to reduce cost. and also, you know, take into account things like making them, you know, friendly for the environment, which is a key

consideration as well. so they're helping with cost and helping out with some environmental considerations. >> gary, i would imagine there's a lot of competition in this field. do you have a lot of contracts already, or how is the business running? >> well, frankly, we do have a lot of contracts right now. we're very enthusiastic about some large production rampup that we're getting ready to go through right now. from the standpoint of competition you might be surprised to learn that there isn't very much because the technology is relatively tied up in various patents and the specific knowledge of how to make the constituent components of a battery printable is a fairly new and difficult to master technology from a practical standpoint. >> michael, is that true? and if so, this sounds like a drug where it's great for a while and then the patent comes off. >> no, i think what's exciting, what's innovative with these type of printed batteries is that, you know, battery-assisted

passive tags in rfid for example they can be printed in high volumes using conventional printing processes. and blue spark and their competitors and peers are working with organizations to help facilitate that transition if need be or to accommodate and work with processes that are in place today. >> okay, guys, thank you so much. very interesting subject. we appreciate you coming on. >> thanks so much. >> coming up zblsh great to be with you. >> the white house finds a new economic indicator that fits these times. we'll be right back. this is "street signs." so, katy kicked off the conference call... but we missed the first half trying to download the docs. which turned out to be the old-new docs... rather than the new-new docs. then bob dialed in from home and his... dog starts barking. so jen jumped in with her "two cents"... which katy missed because she was buying shoes online. and then i hit mute... to talk timelines with my team. getting lots of dirty looks through the phone in the process. - overall... - a great call. - great call. yeah. introducing a better way. learn more at cisco.com/newways [ dog barks ]

feels kind of like knives. aleve works all day on my back pain. only two aleve liquid gels can stop pain all day. that would take twice as many advil or ibuprofen. aleve allows me to get through my work day.

okay. the white house is looking for good economic news wherever they can find it. economic adviser larry summers found it on the web. claiming that google searches for the phrase "economic depression" are down to normal levels, showing that consumer confidence is actually higher. so we thought we'd see what we could find out from google. and summers is right. searches are down from their

recent highs in march. but take a look at that line at the end. it's kind of ticking up. so i don't know. maybe the jury is still out. where are people doing all this searching? the top states. remember, they're searching for economic depression. are new mexico, washington, oregon, arizona, and idaho. interesting. i don't know what to make of that. all right. let's go on. we have just a few e-mails before we go. aaron writes, "i give the president a solid d. the only reason i don't give him an f is that he is not afraid to try." and also morris writes in that "obama deserves an a-plus if not for his bold policy we very well could be starting a '30s type depression." all right. that is it. thanks for watching "street signs." i'll see you tomorrow on the call. "closing bell" is next with maria bartiromo. toyota's north american president says he's hopeful the company will return to profitability next fiscal year p and that u.s. industry sales will return to a 12 to 13 million annual rate. the "wall street journal" says the st. regis monarch resort has been turned over to

lender citigroup. that follows weeks of negotiations between the two after the resort missed loan payments. bankrupt telecom equipment maker nortel networks has sold its enterprise solutions unit to avaya. that's cnbc.com "news now." i'm julia boorstin. and there's a live picture of the floor of the new york stock exchange. as we enter the final stretch on wall street for the day. stocks extending last week's big moves. as we approach the close. hi, everybody, welcome to "the closing bell." i'm maria bartiromo on the floor of the new york stock exchange. and we do have this market building on last week's big 7% rally for the major averages. a couple of stories in the news. number one, there are reports that cit group is doing that deal with bondholders to raise new capital. this is alleviating some pressure not only on cit but on the notion that so many small and mid-cap companies will be out of luck in terms of access to credit because cit is a leading lender in that part of

the economy. in particular the retail, the garment center. probably the company's biggest customer there. also, we have the lei out today, leading indicators up .7%. that also helping things here with the dow jones industrial average now up 70 points. at the highest level since november 5th. we're going to take a look at the banks and oil coming up in the program. many of the large center money center banks, by the way, are down today. like citigroup, jpmorgan. ge also weak. the investment banks doing well. goldman and morgan stanley higher. morgan reporting earnings this week. technology really a mixed bag here. the s&p 500 is higher. although you do have some big name tech names like ibm, google, apple and other mong others under selling pressure. bob pisani our eye on the floor of the nyse for all of the action as we approach this final stretch. >> you hit the head on the nail. highest level since november. up near the highs of today. up six days in a row. and the bulls are making a simple argue sxmt so far they're winning that p/e multiples are going to expand in the second half of the year as the top line grows and the cost c